DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

Sec. 14. And be it enacted, That it shall be the duty of
the company hereby incorporated, to cut, make and con-
struct the said canal, with good and sufficient locks, on the
most approved plans for expedition in the use thereof, and
with the width of not less than forty feet at the surface of
the water therein, or of twenty-eight feet at the bottom
thereof, unless the quantity of the soil shall require a nar-
rower base, of sufficient slope to preserve the banks from

vigation of boats and rafts, with a depth of four feet water
at least; and whenever wasters shall be essential to the se-
curity of the said canal, and in no other situation 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 machinery as require
a water power; and along one side at least of the said ca-
nal, and such aqueducts as it may render necessary, there
shall be provided throughout its whole extent a towing path
of sufficient breadth to apply the power of horses to the
navigation thereof.

CHAP. 189

Canal, manner of

constructing it

Sec. 15. And be it enacted, That it shall and maybe
lawful for any of the said stockholders to transfer his or her
shares, by deed, executed before two witnesses, and register-
ed, after proof of the execution thereof, on the company's
books, and not otherwise, except by devise, which devise
shall be also exhibited to the president and directors, and
registered in the company's books before the devisee or de-
visees shall be entitled to draw any part of the profits from
the said tolls or dividends; Provided, that no transfer what-
soever shall be made, except for one or more share or shares
and not for part of such share or shares, and that no share
or shares shall, at any time, be sold, conveyed, or held in
trust, for the use and benefit, or in the name of another,
whereby the said president and directors, or stockholders

ed or made to answer concerning any such trust; but that
every person appearing as aforesaid, to be a stockholder,
shall, as to others of the said company, be to every intent
taken absolutely as such; but as between any trustee and the
person for whose benefit any trust shall bo created, the com-
mon remedy may be pursued.

Tranfers, how to
be made

Sec. 16. And be it enacted, That if the said capital, and
the other aids already granted by this act, shall prove in-
sufficient, it shall and may be lawful for the said company,
from time to time, to increase the said capital, by the ad-
dition of so many whole shares as shall be judged necessa-
ry by the said stockholders, or a majority of them present
at any general meeting of the said company, and the said
president and directors, or a majority of them, are hereby

Capital may be in-

creased