GEORGE HOWARD, ESQ. GOVERNOR.

1831

sonal estate, and shall be exempt from the imposition of any

CHAP. 296.

tax or burthen by the state's assenting to this law, except

Personal estate

upon that portion of the permanent and fixed works of said

Exempt from tax,

company, which may lie within the state of Maryland; and

Except

that any tax which shall hereafter be levied upon saijd sec-

tion shall not exceed the rate of any general tax, which may

at the same time be imposed upon similar real or personal

property of this state for state purposes.

Sec. 20, And be it enacted. That the said president and

Dividends

directors shall, annually or semi-annually, declare and make

such dividend as they may deem proper, of the nett profits

arising from the resources of the said company, after de-

ducting the necessary current and probable contingent ex-

penses; and that they shall divide che same amongst the

stockholders of said company, in proper proportions to

their respective shares.

Sec. 21. And be it enacted, That if any person or persons

Penalty for injur-

shall wilfully, by any means whatsoever, injure, impair or

ing road, &c.

destroy any part of any rail road constructed by said com-

pany under this act, or any of their necessary works,

buildings, carriages, vehicles or machinery of said com-

pany, such person or persons so offending, shall, each of

them, for every such offence, forfeit and pay to the said

company, a sum not exceeding three hundred dollars, which

may be recovered in the name of the said company, by an

action of debt in the county court of the county wherein

the offence shall be committed, and shall also be subject to

indictment in said court, and upon conviction of such of-

fence, shall be punished by fine and imprisonment in the

discretion of the court.

Sec. 22. And be it enacted, That as soon as this act shall

Operation of this

have been passed by the legislature of Maryland, books

act.

may be opened, subscriptions received and the said compa-

ny organised; and that n hen organised, the said company,

and the president and directors of the same, shall have all

the powers, rights and privileges granted by this act, and

shall be subject to all its regulations, in construction or re-

pairing any of the said rail roads, or other necessary works

or buildings which can or may be constructed within the

limits of the state of Maryland, and in transporting persons,

goods, merchandise, or property of any description, along

any of said roads, and that the provisions of this act shall

be wholly in force as to all the property of the company,

which may be situated, or may be within the state of Ma-

ryland, and which said company is permitted to hold under

this act.

Sec. 23. And be it enacted, That full right and privilege

Right to connee

is hereby reserved to the citizens of this state, or any com-

reserved.