|
Invested with
power to con
struct rail-
roads, &c.
|
Sec. 2. And be it enacted, That for the purpose
of enabling said company to transport the produce
of their mines and manufactories to market, the
said corporation shall be and is hereby invested
with all and singular the rights, profits, powers,
authorities, immunities and advantages for the
surveying, locating and constructing a railroad
with the necessary appurtenances from their mines
or works to connect at any convenient point or
points with other existing railroads in Allegany
county or with the Chesapeake and Ohio Canal at
Cumberland, and for the making, constructing,
preserving and controlling the said railroad or
roads, and the necessary vehicles and appurte-
nances thereto belonging and every part thereof
which by the act and more particularly the fif-
teenth section thereof incorporating the Baltimore
and Ohio Railroad Company and its several sup-
plements were for the lawful purposes of said com-
pany and the benefits of its corporators given,
granted, authorized, and secured to the said com-
pany, and to the President and Directors respec-
tively as fully and perfectly as if the same act
were herein repeated, and the said corporation
shall transport on its said railroad or roads which
may be constructed under the provision of this
act, and also on any railroad or tram road it may
purchase as hereinbefore authorized, all persons
and property at the same rates of tolls and prices
of transportation as the Baltimore and Ohio Rail-
road Company are, or shall be by law allowed to
charge and receive.
|
|
Capital stock.
|
Sec. 3. And be it enacted, That the capital stock
of said company shall be two million five hundred
thousand dollars, and shall be divided into shares
of one hundred dollars each, and shall be consid-
ered as personal property, and shall be assignable
and transferable in such manner as may be provi-
ded by the by-laws of said corporation, and sub-
scriptions to the said capital stock shall be made at
such places and in guch manner as shall be desig-
nated by the said Douglass Percy, Crawford W.
Shearer and William R. Percy, or a majority of
them, and which subscriptions may be paid either
in lands at a valuation to be determined by those
receiving the said subscription or in money, and
the stockholders shall be entitled to one vote in
|
