E. LOUIS LOWE, ESQUIRE, GOVERNOR.
117
shall be under the exclusive management and control
of the said North Branch company and its officers.
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SEC. 7. And be it enacted,
That the said North
Branch company shall and may establish a tariff or toll,
for all transportation placed upon the said work and the
same to alter at pleasure; Provided, the rate of change
for transportation shall not exceed three cents per ton
per mile, nor two cents per ton per mile for passengers;
And Provided, that nothing herein contained shall
effect the provisions of the sixth section of this act in reference
to the use by other companies of their own cars,
upon the road of the company hereby incorporated.
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Tariff of toll.
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SEC. 8. And be it enacted,
That the Chesapeake
and Ohio canal company is hereby authorised and empowered
to yield and relinquish the prior right of way
up the Potomac river west of Cumberland, now vested
in it by law to the said North Branch company, so far
as the same may be required for the more advantageous
location and construction of the work provided for by
this act.
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Prior right of
way.
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SEC. 9. And be it enacted,
That all and every of
the company incorporated by this State for mining and
other purposes, and owning lands, mines or minerals in
Allegany county, are hereby authorised to become subscribers
to and hold stock of the said North Branch company,
and to appoint their agents respectively, to vote
their stock in all meetings of the stockholders of said
company.
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Other companies
may become
subscribers.
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SEC. 10. And be it enacted,
That a general meeting
of the said stockholders, may be called at any time
by any three or more of its stockholders, upon giving
twenty days public notice, and that a majority of the
stockholders holding a majority of the shares of said
capital stock, shall be required to transact business in
such meeting of stockholders.
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General
meetings.
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SEC. 11. And be it enacted,
That if the said work
shall not be commenced within one year and completed
within five years from the passage of this act, the same
shall be null and void.
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When to be
commenced
and finished.
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SEC. 12. And be it enacted,
That nothing in this
act shall be so construed as to authorise the said company
to issue any note, token, scrip or other evidence of debt
to be used as currency; and the Legislature reserves
to itself the right to alter or amend, or repeal this act at
pleasure.
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Banking forbid.
Reservation.
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