BENJAMIN OGLE, ESQUIRE,
GOVERNOR.
NOVEMBER. 1799.
case the owner thereof shall be a feme-covert, under age, non compos,
or out of the state, on applica-
tion to any two justices of the county in which such land shall lie,
the said justices shall issue their
warrant, under their hands, to the sheriff of their county, to summon
a jury of eighteen inhabitants
of his county, of property and reputation, not related to the parties,
nor in any manner interested;
to meet on the land to be valued, at a day to be expressed in the warrant,
not less than ten nor more
than twenty days thereafter; and the sheriff, upon receiving the said
warrant, shall forthwirth sum-
mon the said jury, and when met, shall administer an oath, or affirmation,
as the case may require,
to every juryman that shall appear, that he will faithfully and impartially
value the land, and all
damages the owner thereof shall sustain by the cutting the canal through
the said land, according to
the best of his skill and judgment, and that in such valuation he will
not favour any person, nor any
person aggrieve for hatred, malice or ill will; and the inquisition
thereupon taken shall be signed by
the sheriff, and some twelve or more of the jury, and returned by the
sheriff to the clerk of his
county, to be by him recorded; and upon every such valuation the jury
arehereby directed to de-
scribe and ascertain the bounds of the land by them valued, and their
valuation shall be conclusive
on all persons, and shall be paid by the said president and directors
to the owner of the land, or his
legal representative, before they shall take possession of said land,
and on the payment thereof the
said company shall be seized in fee of said land, as if conveyed by
the owner to them, and their suc-
cessors, in fee, by legal conveyance; provided nevertheless, that if
any further damage shall arise to
any proprietor of land in consequence of opening such canal, or in
erecting such works, than had been
before considered and valued, it shall and may be lawful for such proprietor,
as often as any such new
damage shall happen, by application to, and warrant from, any two justices
of the county where the
lands lie, to have such further damage valued by a jury in like manner,
and to receive and recover
the same of the said president and directors; but nothing herein shall
be construed or taken to entitle
the proprietor of any such land to recover compensation for any damages
which may happen to any
mills, forges, or other works or improvements, which shall be begun
or erected by such proprietor
after such valuation, unless the same damage is wilfully or maliciously
done by the said president and
directors, or by some person by their authority.
XIII. AND BE IT ENACTED, That the said president and directors, or a
majority of them, are
hereby authorised to agree with the proprietors for the purhcase of
a quantity of land, not exceeding
one acre, at or near each of the said places of receipt of tolls aforesaid,
for the purpose of erecting
necessary buildings, and in case of disagreement, or any of the disabilities
aforesaid, or the proprie-
tor being out of the state, then such land may be valued, condemned
and paid for, as aforesaid, for
the purpose aforesaid, and the said company shall, upon payment of
the valuation of the said land,
be seized thereof in fee-simple as aforesaid.
XIV. AND BE IT ENACTED, That it shall and may be lawful for every of
the said proprietors to
transfer his share or shares, by deed executed before two witnesses,
and registered, after proof of the
execution thereof, in the said company's books, and not otherwise,
except by devise, which devise
shall also be exhibited to the president and directors, and registered
in the said company's books, be-
fore the devisee or devisees shall be entitled to draw any part of
the profits from the said tolls; pro-
vided, that no transfer whatsoever shall be made, except for one or
more whole share or shares, and
not for part of such shares, and that no share shall at any time be
sold, conveyed, transferred or held
in trust, for the use and benefit, or in the name of another, whereby
the said president and directors,
or proprietors of the said company, or any of them, shall or may be
challenged or made to answer
concerning any such trust, but that every person appearing as aforesaid
to be a proprietor shalll, as to
the others of the said company, be to every intent taken aboslutely
as such, but as between any trus-
tee and the person for whose bnefit any trust shall be created, the
common remedy may be pursued.
XV. AND BE IT ENACTED, That if the said capital, and the other aids
already granted by this
act, shall prove insufficient, it shall and may be lawful for the said
company, from time to time, to
increase the said capital, by the addition of so many more whole shares
as shall be judged necessary
by the said proprietors, or a majority of them, holding at least five
hundred shares, present at any
general meeting of the said company; and the said president and directors,
or a majority of them,
are hereby empowered and required, after giving at least one month's
previous notice thereof in some
of the Maryland, Delaware and Pennsylvania news-papers, to open books
at such place or places as
shall be directed by said meeting, for receiving and entering such
additional subscriptions, in which
the proprietors of the said company for the time being shall and are
hereby declared to have the pre-
ference of all others for the first thirty days after the said books
shall be opened as aforesaid, of taking
and subscribing for so many whole shares as any of them shall choose;
and the said president and di-
rectors are hereby required to observe, in all other respects, the
same rules therein as are by this act
V v v v v
prescribed |
CHAP.
XVI.
And agree wtih
proprietors, &c.
Shares may be
transferred, &c.
Capital may be
increased, &c. |