LLOYD LOWNDES, ESQUIRE, GOVERNOR.

SEC. 8. And be it enacted, That it shall be the duty of the
company hereby incorporated to cut, make and construct the

1137

said canal, with good and sufficient locks, wherever said locks
shall be necessary, on the most improved plan for expedition
in the use thereof, and with a width of not less than sixty feet
at the surface of the water therein, and of forty feet at the
bottom thereof, unless the quality of the soil shall require a nar-
rower base to admit of a sufficient elope to preserve the banks
from sliding down, and sufficient to admit at all seasons the
navigation of boats and rafts, with a depth of six feet of water
at mean tide at the least, and whenever wasters shall be essen-
tial to the security of the said canal, and in no other situation
whatever along the same, the waste water of the said canal
may be, from time to time, sold or disposed of by the said
company for the purpose of supplying such works and ma-
chinery as require a water power, and along one side, at least,,
of said canal, and such aqueducts as may be necessary; there
shall be provided, whenever said canal is made a public high-
way throughout its whole extent, a towing path of sufficient
breadth to apply the power of horses, or any other suitable
system of power, for canal navigation.

Duty of com-
pany.

SEC. 9. And be it enacted, That it shall and may be lawful
for any of the said stockholders to transfer his or her shares of
stock by deed executed before two witnesses, and registered,
after the proof of the execution thereof, on the company's
books, and not otherwise, and by devise, which devise shall so
be exhibited to the president and directors of the company,
and registered in the company's books before the devisee or
devisees shall be entitled to draw any part of the profits from
the said tolls or other dividends of the company ; provided,
that no transfer whatsoever shall be made except for one or
more whole shares, and not for a part of such share or shares ;
and the said president and directors shall not be responsible for
any trust created by such conveyance or devise of stock, but
all remedies arising in law or equity in such transfer shall be
the common remedies used in law and equity in such cases.
SEC. 10. And be it enacted, That the president and directors
of said company hereby incorporated, shall have power to

Shares of
stock trans-
ferable.

make all necessary rules and regulations, not inconsistent with
the laws of this State, for the use and government of the canal,
and to appoint all officers and keepers, agents and employes of
every character for the proper management of the said canal,
and for the navigation of the same and the waters of this
State, for their own boats and vessels, not inconsistent with
laws of this State.
72

Make rules
and regula-
tions.