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LEVIN WINDER, ESQUIRE, GOVERNOR.
number of shares to such an extent as shall be deemed sufficient to
accomplish the work, and receive subscriptions on original terms,
and demand the money subscribed for such shares in like manner
and under like penalties as are herein before provided for the
original subscriptions, or as shall be provided by their by-laws. |
1814.
CHAP. 71. |
23. AND BE IT ENACTED, That the court of inspection
aforesaid
shall, at the end of every third year from the date of this incorporation,
until two years next after the whole of the said road
shall be completed, lay before the general assembly an abstract of
the accounts of the said corporation, on the oath or affirmation of
the persons intrusted by the company with keeping of the said accounts,
shewing the whole amount of their capital expended in the
prosecution of the said work, and of the income and profits arising
from the said tolls, for and during the respective period, together
with an exact account of the costs and charges of keeping
the said road in repair, and all other contingent costs and charges,
so that the clear annual income and profits thereof may be ascertained
and known; and if at the end of two years after the said
road shall be completed from the beginning to the end thereof, it
shall appear from the average profits of the said two years, that
the said clear income and profits will not bear a dividend of ten per
centum per annum on the capital stock of the said company so expended,
then it shall and may be lawful to and for the said president,
managers and company, to increase the tolls therein before
allowed, so much upon each and every allowance thereof, as will
raise the dividends up to ten per centum per annum; and at the end
of three years thereafter, the said company shall, on the oath or
affirmation of the persons respectively employed to keep the accounts
of the said company, render such like statements to the
general assembly; and if at the end of any such triennial period
there shall be a surplus of tolls, over and above satisfying the aforesaid
ten per centum upon the said road, the said court of inspection
shall have power and is hereby authorised to receive such surplus,
and to employ the same in purchasing out the stock of the said
road. |
Accounts to be
rendered to the
general assembly
at the end of every
third year. |
24. AND BE IT ENACTED, That the said company
shall cause
posts to be erected and continued at the intersection of every public
road falling into and leading out of the said turnpike road,
with a board and index hand, pointing to the direction of such
road, on both sides whereof shall be inscribed in legible characters
the name of the town, village or place, to which such road
leads, and the distance thereof in computed miles; and the said
company shall cause mile-stones to be places at the side of the said
road, beginning at the distance of one mile from Boonsborough,
and extending thence to the termination of the said road, whereon
shall be marked in plain legible characters, the number of miles
which each stone is distant from Boonsborough aforesaid; and at
every gate or turnpike by them to be fixed on the said road, shall
cause the distance from Boonsborough, and the distance from the
nearest gate or turnpike in each direction, to be marked in legible
characters, designating the number of miles and fraction of a mile
on the said gates, or some other conspicuous place, for the information
of travellers and others using the said road; and if any
person shall wilfully destroy the said posts, boards, index hands or |
Posts and mile-stones
to be erected
—penalty for
destroying them. |
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