THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

for which under this act the said Treasurer shall sub-

scribe, und which the State may continue to own, at

CHAP. 395.

the time of making any annual election or appointment

of directors of said company, this State shall be enti-

tled to have and appoint one director, over and above

the number of those who may be appointed by reason

of the interest which she now has in the property or

capital stock of said company.

SEC. 7. And be it enacted, That before any subscrip-

Stipulation of Ches.

tion shall be made to the capital stock of the Chesa-

and Ohio Canal Company to pay

peake and Ohio Canal Company, under and by virtue

6 per cent

of this act, the stockholders of the said company shall

in general meeting assembled, stipulate, agree and

bind the said company by a proper instrument of writ-

ing, signed by the president and under the corporate

seal thereof, to be lodged with the Treasurer of the Wes-

tern Shore, to guarantee to the State of Maryland, the

payment out of the profits of the work, of six per centum

per annum payable semi-annually on the whole amount

of money which shall be paid to the said company, under

and by virtue of this act, until the clear annual profits

Until adequate,&c .

of the said canal shall be more than sufficient to dis-

charge the sums of money which it shall be liable annu-

ally to pay to the State of Maryland, and shall be

adequate to a dividend of six per centum per annum

among its stockholders, except the holders of stock

subscribed in virtue of the stock and debt of the Poto-

mac Company, and thereafter the State shall in refer-

ence to the stock subscribed for on its behalf, be enti-

tled to have and receive a proportional dividend upon

the profits of the work, as declared from time to time

and no more.

SEC. 8. And be it enacted, That as soon as it shall

Subscription to

appear to the governor, by estimates to be severally

E. S. Rail Road, Maryland Canal

and respectively prepared and adopted by the Eastern

and Annapolis Potomac Canal

Shore Rail Road Company, and the Maryland Canal

Company, and the Annapolis and Potomac Canal Com-

pany, or either of them, and approved by the Governor

of this State, that the subcnptions to the capital stock

of all or either of said companies, including the sub-

scription hereby authorised on the part of the State, to

the stock of such company or companies, respectively,