like manner, and to receive and recover the same of the said president
and directors;
but nothing herein contained shall be taken or construed 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 first valuation, unless
the same
damage is wilfully or maliciously done by the said president and directors,
or some
person by their authority.
X. 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 purchase
of a
quantity of land, not exceeding one acre, at or near the place or places
or receipt
of tolls, for the purpose of erecting necessary buildings, and in case
of
disagreement, or any of the disabilities aforesaid, or the proprietor
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.
XI. And,
whereas some of the places through which it may be necessary to
conduct the said canals may be convenient for erecting mills, forges
or other
waterworks, and the persons, possessors of such situation, may design
to improve
the same, and it is the intention of this act not to interfere with
private property
but for the purpose of improving and perfecting the said navigation,
Be it
enacted, That the water, or any
part thereof, conveyed through any canal or
cut made by the said company, shall not be used for any purpose but
navigation,
unless the consent of the proprietors of the land through which the
same shall
be led be first had; and the said president and directors, or a majority
of them,
are hereby empowered and directed, if it can be conveniently done to
answer
both the purposes of navigation and waterworks aforesaid, to enter
into reasonable
agreements with the proprietors of such situation, concerning the just
proportion
of the expences of making large canals or cuts, capable of carrying
such quantities
of water as may be sufficient for the purposes of navigation, and also
for
any such waterworks as aforesaid.
XII. 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 company's books, before
the devisee
or devisees shall be entitled to draw any part of the profits from
the said
tolls; provided that no transfer whatever shall be made, except for
one or more
whole share or shares, and nor 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 shall, as to the others of the said company, be
to every intent
taken absolutely as such, but as between any trustee and the person
for whose
benefit any trust shall be created, the common remedy may be pursued.
XIII. And, whereas
it hath been represented to this general assembly, that
sundry persons are willing and desirous, on account of the great pubic
advantages,
and the improvements their estates may receive thereby, to promote
and contribute
towards so useful an undertaking, and to subscribe sums of money towards
the completing the said works and carrying them into execution, but
do
not care to run any risk, or desire to have any property therein; therefore,
Be
it enacted, That the said president and directors shall be and are
hereby empowered
to receive and take in subscriptions for the purposes aforesaid, and
it is
the true intent and meaning of this act, that it shall and may be lawful
for the
said president and directors, or a majority of them, in case of refusal
or neglect
of payment, in the name of the company as aforesaid, to sue for and
recover of
the said subscribers, their heirs, executors or administrators, the
sums by them |
CHAP.
XVII.
And with the
proprietors,
&c.
Water not to
be used, &c.
Proprietors
may transfer,
&c.
President, &c.
to receive
subscriptions,
&c. |
