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Session Laws, 1831
Volume 213, Page 460   View pdf image (33K)
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Sec. 5. And be it enacted, That the amount of the addi-

CHAP. 350,

tional shares of stock which shall be subscribed, and paid

What shall consti-

as authorised and provided by this act the amount of stock

tute the capital of
this Co. defined—

which shall be paid by the corporations owning the turnpike

as to ensure divi-
dends &c.

road, between the cities of Baltimore and Washington, con-


formably to their subscription, in virtue of the act to which


this is a supplement; the amount of distinct and seperate


stock when elected, and taken by the state of Maryland as


provided by this act, or the act to which this is a supple-


ment, and the amount of funds which shall have been furnish-


ed by the Baltimore and Ohio Rail Road company to aid in


surveying and locating, and in effecting the construction and


completion of the rail road authorised by this act, and the


act to which it is a supplement, placing the cars and other


carriages and moving power on the said rail road, and pro-


viding stores and other buildings, scales, weights, and other


machinery and implements necessary to the beneficial use of


the said rail road, up to the time that the same shall be com-


pleted with two sets of tracks, fit for use by travel and trans-


portation, and the necessary cars, and moving power plac-


ed thereon shall, united, form the capital upon which the


net profits derived from the use of the said rail road shall be


apportioned, and the said net profits, reserving not more


than one per cent for contingencies, shall be divided, semi


annually in just proportions, and paid over to the state, and


the several corporations and individuals entitled thereto, and


once in three years the surplus profits shall be apportioned,


divided and paid over in like manner, and the amount of all


dividends which the Baltimore and Ohio rail road company


shall be entitled to, and receive out of the said net profits


shall form a part of the receipts and general funds of the


said company, and an item in estimating their semi annual




Sec. 6. And be it enacted, That the said company are here-

Remission to re-

by empowered to obtain by grant or purchase, land not ex-

ceive lands &c. for

ceeding ten acres, binding on the navigable water of the


eastern branch of the Potomac river, to be used as a depot,


and to extend the said rail road to such depot, and construct


thereon such warehouses, wharves and other improvements


as they may find to be necessary for the more beneficial use


of the said rail road, and the convenience of the public; and


the said company may in like manner obtain, improve, and


use any land not exceeding ten acres in any one place, as a


depot, in connection with the rail road which they are au-


thorised to lay out and construct in virtue of this act, and


the act to which this is a supplement.


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Session Laws, 1831
Volume 213, Page 460   View pdf image (33K)
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