St. Mary's gazette., 1866-05-31
LAWS OF MARYLAND.
PUBLIC GENERAL
IorPICIAL.l |
CHAPTER 173.

canal Company
Whereas, 4 line Of Caaal, River and
Bay communication now exists from Ne~
York to the city of Annapolis, Of sufficient
capacity to pass boats Of about three hun
Sped tons blrthen, and it only requires a
link to be added, of about twenty miles,
to connect the city Of Washington, by ca
nal, With New York Therefore,
Section I. Be it enacted by the General
Assembly of Maryland, That Andrew ).
Hull, Wm E. Spaldiug, Henry D: Cook,
of Washington city, VIM d. Tuck, John
Coates, McHenry Grafton, JAS Higgins.
Anthony Reybold, VIM Thompson, OF
R., George F. Needham and fhos. Lands
dale. of the State of Maryland, Gideon l..
Walker and Samuel F. Dickinson, Of the
CITY of New York, and their successors,
4 nd each of their assigns. be and they are
hereby created body corporate and poll
tic, by the nane Of The Chesapeake Bay
and Potomac River Tide Water Canal
Company" and by that name have perpet-
ual succession, and shall be able to sue
and be sued, to pacad and be inpacaded, to
defend and be defended IN all courts OF law
or equity, in the State Of Maryland or the
United States, and may make and use .
common seal, to ordain and establish such
by laws, ordinances and regulatisns as may
appear necessary for regulating the con-
Germs of said company. not being inconsis-
tent or contrary to this act or the laws OF
the United States, or the State OF Mary
land said company shall also have power
to hold and convey real estate and other
property, to execute mortgages aid deeds
of trust upon iss property and franchises,
real personal and mixed property, and to
borrow money and negotiate loans upon
their franchises, bonds, mortgages, or
other securities:
Section 2. And be it enacted, That said
corporation is hereby authorized and en-
powered to survey, locate, lay out, con-
-truct, operate, use, collect tolls upon, and
enjoy continuous line of Canal with all
its appurtenances, between the waters OF
the Chesapeake Bay and its tributaries,
near the city of Annapolis, and the waters
| of the Anacosta River, at or near Bladens-
burg, in the county of Prince Georges
upon route to be surveyed and deslgna-
ted by n competent engineer appointed by
said company, for the purpose OF carrying
freight, and passing vessels, boats, rats
of timber, and crafts Of all kinds, capable
of navigating said Canal, which Canal
shall be cut at least ten feet deep and tor
ty feet wide at the bottom, with the usual
slope to the banks. and the same shall at
all times, be kept in good and navigabie
! condition.
Section g. And be it further enacted,
That the capital stock of the said Chesa-
peake Bay and Potomac River Tide Wa
ter Canal Company, shall be three millions
of dollars, and shall consist of thirty thous-
and shares, of one hundred dollars, each,
which shall be subscribed for on the books
of said company, and shall be transtera-
bic in such manner as the by laws of said
company shall prescribe the books shall
be opened at any place in the cities of " ash
ington, Annapolis. Baltimore, Phlladel-
ohia and New York, at such time and
place therein rs the said corporators or a
majority of them shall designate by public
notice Of ten days, published at least in
one daily paper in each of said cities, and
said books shall be kept open until the
whole amount of said stock shall be sub
scribed, or such amount as the corporation
shall deem sufficient to authorize the salo
company to commence the said work; a
cash payment of ten per cent on all sub
scrptions shall be paid at the time Of sub
scribing, to the persons or persons properly
authorized to receive the same, but no per-
son shall be liable for any amount more
than the amount of stock he holds.
Section T. And be it enated, That the
persons named in this act, their successors
or assigns shall be the Directors of said
Company one of whom shall be appoint
ed President of the Board of Directors,
one Vice President and one Treasurer,
each to be appointed by majority OF the
said Directors at a meeting Of the same at
some convenient place in the city Of w ash
ington, to be designated by at least seven
Of said Directors, and to be published IN
the city Of Washington, and also by letter
properly in the postoffice at the city of
Washington. and directed to any director
or corporator at his residence when he does
not reside in the city of Washington of
the time and place of said meeting, and
seven of whom shall constitute quorum,
and they at the time mentioned in said no.
tice, shall then in case a quorum be pres
ent, proceed to elect said President, Vice
President and Treasurer by ballot, first
having appointed two of their number as
inspectors of said elections, which two in
spcetors so designated, shall certify un-
der their hands, the names of the Presi-
dent and Treasurer, thus duly elected, and
shall if they are not present notify them
at once of their elections the proceedings
of said meeting, and of the election of
said officers shall be entered in the books
of the Company and the officers so cleo
ted shall hold their Office for two years.
and until others arc elected and qualified
to fill their places. but before the said Di-
rectors. or any of them, shall enter upon
their duties. they shall take and subscribe
the usual oath before some person author
lied to adm mister the same, to support
the constitution Of the United States, the
constitution of the State Of Maryland, and
faithfully to perform the duties of the of
|. j ha so