1823

LAWS OF MARYLAND.

CHAP. 189.

Sec. 4. And be it enacted, That the said president and

Engineers and

agents to be ap-

pointed

bled, shall have full power and authority to appoint, and at

agent or agents, as they may deem expedient, and to fix
their compensation, and to agree with any person or per-
sons on behalf of the said company, to cut canals, erect
dams, open feeders, construct locks, and perform such other
works as they shall judge necessary or expedient for com-
pleting the canal hereinbefore mentioned and described;

and other aids hereinafter given, to pay for the same, and
to repair and keep in order said canal, locks, and other
works, necessary thereto, and to defray all incidental
charges, and also to appoint a treasurer, clerk, and other of-
ficers, toll-gatherers, managers and servants, as they shall
judge requisite, and to agree for and settle their respective
wages and allowances, and to settle, pass, and sign their
accounts, and also to make and establish rules of proceed-
ing, and to transact all other business and concerns of the
said company, in and during the intervals between the ge-
neral meetings of the same; and they shall be allowed, as a
compensation for their trouble therein, such sums of money
as shall, by a general meeting of the stockholders, be de-

Proviso

termined; Provided, always, that the treasurer shall give
bond in such penalty, and with such security, as the said
president and directors, or a majority of them, shall direct,
for the true and faithful discharge of the trust reposed in
him, and that the allowance to be made him for his service
shall not exceed three dollars in the hundred, for the dis-

ny shall have any vote in the settling or passing of his own

Instalments how to

be paid

Sec. 5. And be it enacted, That on all subscriptions
there shall be paid, at the time of subscription, on each
share, one dollar, and thereafter, when the company shall
be formed, the stock subscribed shall be paid in such in-
stalments, and at such time, as the president and directors

Proviso

shall, from time to time require, as the work advances; Pro-
vided, that not more than one third part shall be demanded
within any year from the commencement of the work, nor
any payment demanded until at least sixty days public no-
tice thereof shall have been given in such public newspa-
per as the said president and directors shall direct such no-
tice to be published in; and whenever any subscriber shall
fail to pay any instalment called for by the company, it
shall and may be lawful for the company, upon motion to
be made in any court of record, after ten days notice, to ob-
tain judgment against the subscriber so failing to pay; or
the said company may, at their option, after sixty days no-