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THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.
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1835.
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SEC. 4. And be it enacted, That the said Union
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CHAP. 336.
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Company shall not be liable to the tax of twenty cents
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Exemption from
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on the hundred dollars as required by the conditions
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tax
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of the act to which this is a supplement, until the
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profits thereof shall amount to six per centum on the
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capital employed in insurances, against losses by fire
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or water or other casualties, endowments or deposites,
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in trust, the granting of annuities, the making of con-
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tracts for reversionary interest, the acquiring and dis-
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position of goods and effects, the investment of funds
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in stocks or mortgages, and the general exercise and
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enjoyment of other rights and privileges, such as have
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been granted by this State, to the American Life and
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Trust Company; and in computing the one half the
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capital which the said company is required by the con-
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stitution aforesaid to invest in public securities of the
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State or of the United States, or other States, in real
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estate or such other securities as may be approved by
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the Chancellor of Maryland, the capital invested by
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the said company in works of internal improvement
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shall be considered as a part of said investment, any
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thing in the said act, or the act or acts, to which it re-
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fers to, the contrary notwithstanding.
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SEC. 5. And be it enacted, That the Union Compa-
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Limit of tolls
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ny shall at no time charge more toll upon their lock
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and dam navigation or canal than is now charged
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upon the Chesapeake and Ohio Canal, nor more than
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one cent per mile a ton for all coal or merchandise
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transported upon their rail road or roads, nor more
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than two cents per mile for each passenger transpor-
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ted on said rail ways.
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