| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
of tolls at the several gates and turnpikes on the said road,
not exceeding one for every five miles, except it should turn out so
as to leave a fractional part of the said five miles at the extremity
of said road, and then at the same rate for said fractional part as
is herein before prescribed; when the said road shall be finished
from the beginning to the end thereof, or such part thereof from
time to time to be completed as aforesaid, shall make and declare
a divided of the clear profits and increase thereof, all contingent
costs and charges, and a reasonable fund for progressive improvement
and accomplishment of said work being first deducted and
reserved, among all the stock of the subscribers to the stock of the
said company, and shall on the first Monday of March and September
in every year, publish the half yearly dividend to be made
of the clear profits to be made among the stockholders, and the
time, place, and when and where the same will be paid, and cause
the said to be made accordingly. |
1815.
CHAP. 99.
|
23. AND BE IT ENACTED, That the said president
and managers
shall at the end of every third year from the date of this incorporation,
until two years next after the whole road shall be
finished, lay before the general assembly of this state an abstract
of their accounts, the whole amount of capital stock expended in
the prosecution of said road, and of the increase and profits arising
from said toll, for and during the respective periods, together
with an abstract of the costs and charges of keeping the said road
in repair, and all other costs and charges, to the end that the clear
annual increase and profits thereof may be ascertained and known;
and if in two years after the said road shall be completed from the
beginning thereof to the end, it shall appear from the average profits
that may be ascertained for the said two years, that it will not
bear a dividend of ten per cent. per annum on the capital stock
of the
said company so expended, it shall and may be lawful to and for
the president, managers and company, to increase the tolls herein
before allowed, in equal proportions upon each and every allowance
thereof, so as to raise the dividends up to ten per centum per annum;
and at the end of every three years thereafter they shall render to
the general assembly of this state a like abstract of their accounts
for the three preceding years; and if at the end of such period it
shall appear from such abstract, that the clear profits and increase
of the company will bear a dividend of more than ten per cent. per
annum, then the said tolls shall be so reduced as to reduce such
dividend down to ten per centum per annum. |
Abstract of accounts
to be laid
before the legislature. |
24. AND BE IT ENACTED, That the said company
shall cause
posts to be erected at the intersection of every road falling into or
leading out of said turnpike road, with boards and index hands
pointing to the direction of said roads, on both sides whereof shall
be inscribed in legible characters the same of the town or place
where said road leads to, and the distance thereof in measured or
computed miles; and also cause mile-stones to be placed on the sides
of said road to designate the distance to and from the principal places
thereon; and also shall cause to be affixed on the said toll-gates
to be erected, for the information of travellers and others using the
said road, a printed list of the rates of tolls that may from time to
time be lawfully demanded. |
Posts, index hands
and milestones. |
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