1835.

LAWS OF MARYLAND.

CHAP. 356

and management of the said company, and the prose-

cution of the said work.

Instalments

SEC. 3. And be it enacted, That the president and

directors shall have power to call in the money subscri-

bed in such instalments, and at such times as the

prosecution of the work shall in their judgment require,

giving reasonable notice of the time and place of pay-

ment.

Sixth and 7th sect

SEC. 4. And be it enacted. That the sixth and sev-

of original act void, it Pennsyl-

enth sections of the act to which this is a supplement

vania repeals, &c.

shall be void, if the rights and privileges granted by

the State, of Pennsylvania to the Susquehanna Canal

Company of said State, by an act entitled, a supple-

ment to the act, entitled, an act to authorise the Gov-

ernor to incorporate the Susquehanna Canal Company,

approved the fifteenth day of April, Anno Domini, one

thousand eight hundred and thirty-five, shall be with-

drawn or counteracted by the said State, or the said act

to be repealed.

Authority to pur-

chase stock of Sus-

SEC 5. And be it enacted. That the company incor-

quehanna canal company

porated by this act, is hereby authorised and empow-

ered to contract for and purchase all or a majority of the

shares of stock of the Susquehanna Canal Company of

Maryland, and all incumbrances upon said canal, and

to hold the same, together with all incidents, rights

and privileges of stockholders of said company, for such

price or prices, as may be agreed upon with the hold-

ers thereof, or be ascertained by means of a reference

of the value thereof to disinterested persons or other-

Loan authorised

wise; and the said company hereby incoporated, is

further authorised to raise money by loan for the pay-

ment of the purchase money, that may be agreed upon

for the said stock and incumbrances, or at their option

to issue certificates of stock, bearing an interest not

exceeding five per cent in payment thereof, redeema-

ble at such time and in such manner as may be deter-

mined upon, and the purchase money of said stock and

incumbrances, together with all expenses incurred in

Capital shall in.

procuring the same, shall be taken to be and form part

clude

and parcel of the capital stock of the said company,

and payable by the stockholders as such, and the

amount of the said capital stock of this company as