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Session Laws, 1835
Volume 214, Page 319   View pdf image (33K)
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ments or deposits of personal or mixed property in

CHAP. 255.

trust, to grant annuities, to contract for reversionary


payments, to make all kinds of contracts in which the


casualties of life and interest of money are concerned,


to acquire and dispose of goods and effects, to provide


for the investment of such parts of the funds of the


company as they may desire to invest in stock and


mortgages in such manner as they may deem most


beneficial, and in general to exercise and enjoy such


other rights and privileges as are granted by this State


to the American Life Insurance and Trust Company,


subject to all the conditions, restrictions and limita-

Powers to cease

tions of the said company; but that if the said canal


or lock and dam navigation be not completed to the


mouth of Savage river, within the time prescribed by


the tenth section of this act for the completion of the


same, then all the rights, powers, and privileges,


granted by this section to said company shall wholly


cease, and the said company shall not thereafter hold


or exercise said rights, powers and privileges, or any


of them.

Pre-emption of the

SEC. 13. And be it enacted, That if the Chesapeake

Chesapeake and Ohio Canal

and Ohio Canal Company, for the purpose of contin-


uing the said canal to the Ohio river, by the route of


the Potomac river, shall require the canal or lock and


dam navigation of the company as part thereof, at any


time within the term of three years, after the Chesa-


peake and Ohio Canal shall have been completed to


Cumberland, the said Chesapeake and Ohio Canal


Company shall be entitled to, and may take possession


of the same for said purpose, upon payment or tender


to the president and directors of the company incorpo-


rated by this act, of the sum expended by it in the


construction of its said canal or lock and dam naviga-


tion, and their appurtenances, with legal interest


thereon, deducting the net profits which may arise


from tolls or transportation on the same.

Connection with

SEC. 14. And be it enacted, That the company in-

company in Virginia authorised

corporated by this act, may, and is hereby empowered


to unite with any company chartered by the State of


Virginia, with authority to make or construct similar


improvements, in or along the Potomac, above Cum -


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Session Laws, 1835
Volume 214, Page 319   View pdf image (33K)
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