| DEC. 1813.
CHAP. 126. |
LAWS OF MARYLAND.
shall judge proper, provided the fine in no instance shall be less
than twenty nor exceeding one hundred dollars; and the fines so to
be imposed shall be recovered in the same manner as fines for misdemeanors
are usually recovered in the said county, and shall be
paid to the supervisors of the highways of the place wherein the
offence was committed, to be applied to repairing such highways
as the township or county is bound to repair at the public expense
thereof. |
Amount of monies
received and expended
to be kept. |
" Sec. 15. And be it further enacted by
the authority aforesaid,
That the president and managers of the said company shall keep
fair and just accounts of all monies which shall be received by them
from the said commissioners, and from the subscribers for the
stock of the said company, on account of their several subscriptions,
and of all penalties for the delay in the payment thereof, and of
the amount of the profit on the shares which may be forfeited as
aforesaid, and also of all monies by them to be expended in the
prosecution of their said work, and shall once at least in every
year, submit such accounts to a general meeting of the stockholders,
until the said road shall be completed, and until all the costs,
charges and expenses, of effecting the same, shall be fully paid and
discharged, and the aggregate amount of such expenses shall be
liquidated and ascertained, and if upon such liquidation, or whenever
the whole capital stock of the said company shall be nearly
expended, it shall be found that the said capital stock will not be
sufficient to complete the said road, according to the true intent
and meaning of this act, it shall and may be lawful for the said
president, managers and company, at a stated or special meeting
to be convened according to the provisions of this act, or their own
by-laws, to increase the number of shares to such extent as shall
be deemed sufficient to accomplish the work, and to demand and
receive the monies subscribed for such shares in like manner and
under the like penalties as are herein before provided for the original
subscriptions, or as shall be provided by their by-laws. |
Also of monies received
for tolls—
Dividends. |
" Sec. 16. And be it further enacted by
the authority aforesaid,
That the said president, managers and company, shall also keep a
just and true account of all and every the monies to be received by
their several and respective collectors of tolls at the several gates
or turnpikes on the said road, which shall not exceed one for
every five miles after the road is completed, from the beginning to
the end thereof, or such thereof as shall from time to time be completed
as aforesaid; and after the said road shall be completed, or
so much thereof as it may from time to time be deemed expedient
to make and finish, shall make and declare a dividend of the clear
profits and income thereof, (all contingent costs and charges and a
reasonable fund for repairs and for the progressive improvement
and accomplishment of the said work being first deducted and reserved,)
among all the subscribers to the stock of the said company,
and shall on the first Monday in December and June in every year,
publish the half yearly dividends to be made of the clear profits
among the stockholders, and of the time and place when and where
the same will be paid, and shall cause the same to be paid accordingly. |
Abstract of accounts
to be made
to legislatures every
third year. |
" Sec. 17. And be it further enacted by
the authority aforesaid,
That the said president and managers shall, at the end of every |
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