THOMAS W. VEAZEY, ESQUIRE, GOVERNOR,

1835.

duction of said tolls or rates of transportation, as shall

be found sufficient to reduce them to fifteen per cent,

CHAP 255.

and that the said President shall semi-annually, at

Declare dividends

such times as the by-laws of said company shall direct,

make and declare a dividend of the net profits of said

company.

AND WHEREAS, it appears to this General Assembly,

Preamble

that a canal or lock and dam navigation, from Cumber-

land to the mouth of Savage river, will be conducted

through a fertile portion of Allegany county, and will

terminate at a mineral region of great extent and bound-

less mineral resources hitherto inaccessible, and to re-

main comparatively useless and unproductive, unless

some communication with the same be opened by such an

improvement as is contemplated by this act, and that al-

though the full extent of the mineral wealth of that region

is as yet but imperfectly developed, yet enough is known

and particularly as to the extensive coal and iron mines

lying there in close connection with each other, to in-

duce this General Assembly to bestow its fostering

care in giving life and activity to these great sources

of public wealth; And whereas, it also appears that a

Preamble

part from the direct benefits to result to the people of

this State from opening the navigation of the Chesa-

peake and Ohio Canal to the remote borders of Al-

legany, and bringing to light and use these great ele-

ments of state wealth, the trade and interests of the

Chesapeake and Ohio Canal, and of the Baltimore and

Ohio Rail Road will be greatly enhanced by the com-

pletion of the improvements contemplated by this act;

And this General Assembly in full view of all these re-

sults, and earnestly desiring the accomplishment, is

willing by proper inducement to stimulate- individual

energy and individual wealth to the completion of a

work involving such public benefits, — Therefore,

SEC. 12. And be if enacted, That as soon as the com-

Authorised to in-

pany incorporated by this act shall have commenced

sure property

the construction of a canal or lock and dam navigation

to extend from the Chesapeake and Ohio Canal, at or

near Cumberland to the mouth of Savage river, the

said company shall have power to insure against losses

by fire or water, or other casualties, to receive endow-