THOMAS W. VEAZEY, ^SQUIRE, GOVERNOR.

1835.

and it is expressly understood that in estimating the

CHAP. 364

tolls on the said canal, or lock and dam navigation

Rate of tolls pre-

the same rate of toll shall he charged on the boats and

scribed

vessels, and the cargoes thereof, of the said Union

Company, as are charged on the boats and vessels and

cargoes of others: nor shall the said company charge

as tolls on their said canal or rail road, more than is

now chargeable on the Chesapeake and Ohio canal,

and Baltimore and Ohio Rail road respectively.

SEC. 2. Ajid be it enacted, That the State hereby

Right retired for

reserves to itself trie right of from time to time, regu-

second rail way

lating the use, by the public, of said company's rail

ways, at such places where a second rail way cannot

be made, which use the legislature may prescribe, and

secure, subject to such tolls as it may fix, or provide

for having fixed, by such conditions and forfeitures up-

on said corporation, as the legislature in that behalf

may direct.

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

Ownership& trans-fers of stock

directors and trustees of the said Union Company, are

hereby authorised and directed to receive such evidence

of ownership, and be governed by such rules respect-

ing transfers of stock, bonds or obligations given for

money borrowed, or for money or other property con-

tracted for, or received on deposit or in trust, as are

received and adopted under the authority of the United

States, for transferring the funded debt of the United

States.

SEC. 4. And be it enacted, That the corporate powers

Board of trustees

of the said Union Company which are granted by the

twelfth section of the act to which this is an amendment.

shall be exercised by a board of trustees and such of-

ficers, agencies, and branches as they shall establish and

locate, the board of trustees shall consist of fifteen per-

President

sons, who shall annually elect a president from their

own body, and shall have power to declare by a by-law

what number of trustees less than a majority of the

whole, shall be a quorum for the transaction of busi-

ness.

SEC. 5. And be it enacted, That the trustees shall

Term of office of

trustees

severally hold their offices during good behaviour, but

the Allegany county court as a court of equity, shall