WM. T, HAMILTON, ESQUIRE, GOVERNOR.

677

by embanking, the provisions of law con-

tained in the said twenty-second article of the

Code, providing for draining of lowlands by

ditches, shall apply to drainage and reclamation

of lands by embankments or ditches, or by either

method.

SEC. 10. And be it enacted, That the shares of

said company shall be taken and considered as

personal property, and the president and directors

shall provide the method of transferring said

Shares per-

stock and of furnishing evidence of the owner-

sonal property

ship thereof; and such in all general meetings of

said company may be represented and voted either

by the owner or owners thereof, or by proxy ap-

pointed in writing by such owner.

SEC. 11. Ami be it enacted, That said company

shall have power to build, buy, possess, use and

own as many horses, cattle, boats or vessels,

What to pos-

whether navigated by steam or otherwise, and

sess.

other species of property as may be necessary for

the use of said company in the exercise of its

chartered rights, and to charge or collect a rea-

sonable freight or compensation for the transpor-

tation of all merchandise or persons over its said

canal or improvements; and also a reasonable toll

for the use of said canal and improvements by the

boats and vessels of other parties, subject to such

regulations as the said company shall order and

direct. And the said company shall have power

to employ as much help and do all other things

Employ help.

necessary and proper to the full exercise and en-

joyment of the rights and privileges granted or

intended to be granted by this act.

SEC. 12. And be it enacted, That as soon as the

president and directors of said company shall be

elected, they shall have power to collect and re-

ceive of the subscription so made to the capital

How organized

stock, as shall be necessary to pay the expenses of

organizing said company, for making a survey and

estimate of the cost of the work to be done, print-

ing of maps, circulars, advertisements and other

preliminary work, and when the sum of ten

thousand dollars shall have been subscribed, the

said president and directors shall have power to

Collect and
receive.

collect and receive the full subscriptions to said