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Session Laws, 1809
Volume 570, Page 83   View pdf image
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EDWARD LLOYD, ESQUIRE, GOVERNOR. NOVEMBER.

1809.

the said president, managers and company, of the road on which said fraud shall or may be practised,
any sum not exceeding ten dollars, to be sued for and recovered, with costs of suit, before any jus-
tice of the peace, in like manner as debts of a similar amount may be sued for and recovered; pro-
vided always, that if any person or persons shall be prosecuted under this section, and the said pro-
secution shall not be sustained on the part of the prosecutor, then and in such case the person or
persons prosecuted as aforesaid shall receive from the company the sum of twenty dollars, in lieu of
damages from delay and vexatious prosecution, recoverable as other fines under this act; and if any
tollgatherer shall knowingly demand and receive any greater toll from any person or persons than
such tollgatherer is authorised to demand and receive by virtue of this act, such tollgatherer shall for-
feit and pay the sum of twenty dollars tor every such offence, to the use of the county in which the
forfeiture is incurred, and for the payment of which the said company shall be responsible.

XXIV. AND BE IT ENACTED, That the president and managers of the said company shall keep
fair and just accounts of all monies received by them from the said commissioners, and from the
subscribers to the said undertakings, on account of the several subscriptions, and of all penalties
for delay in payment thereof, and of the amount of the profits on the shares which may be
forfeited as aforesaid, and also all monies by them expended in the prosecution of their said
work, and shall, once at least in every year, submit such account to a general meeting of the
stockholders, until the said road shall be completed, and until all the costs, charges and expense,
ef effecting the same, shall be fully paid and discharged, and the aggregate amount of such ex-
penses shall be liquidated and ascertained, and if, upon such liquidation, or when the capital
stock of the said company shall be nearly expended, it shall be found that the said capital stock will
be insufficient to complete the said road, according to the true intent and meaning of this act, it
shall and may be lawful for the said president, managers and company, at a stated or special meet-
ing, to be convened according to the provisions of this act or their own by-laws, to increase their
number of shares to such an extent as shall be deemed sufficient to accomplish the work, and re-
ceive subscriptions on original terms, and demand the money subscribed for such shares, in like man-
ner, and under like penalties, as are herein before provided for the original subscriptions, or as shall
be provided by their by-laws.

XXV. AND BE IT ENACTED, That the court of inspection aforesaid shall, at the end of every,
third year from the date of this corporation until two years next after the whole of the said road
shall be completed, lay before the general assembly an abstract of the accounts of the said corpora-
tion, on the oath, or affirmation, of the persons intrusted by the company with keeping of the said ac-
counts, shewing the whole of the amount of their capital expended in the prosecution of the said work,
and of the income and profits arising from the said tolls, for and during the said respective period, toge-
ther with an exact account of the costs and charges of keeping the said road in repair, and all other
contingent costs and charges, so that the clear annual income and profits thereof may be ascertained
and known; and if at the end of two years after the said road shall be completed from the beginning
to the end thereof, it shall appear, from the average profits of the said two years, that the clear
income and profits will not bear a dividend of ten per centum per annum on the capital stock of the
said company so expended, then it shall and may be lawful to and for the said president, managers
and company, to increase the tolls hereinbefore allowed so much upon each and every allowance
thereof as will raise the dividends up to ten per centum per annum, and at the end of three years
thereafter the said company shall, on the oath, or affirmation, of the persons respectively employed
to keep the accounts of the said company, render such like statements to the general assembly, and
if at the end of any such triennial period there shall be a surplus of tolls, over and above satisfying
the aforesaid ten per centum upon the said road, the said court of inspection shall have power, and
is hereby authorised, to receive such surplus, and to employ the same in purchasing out the stock of
the said road.

XXVI. AND BE IT ENACTED, That the general assembly of Maryland may, at any period after
the said road shall have been completed, one year's notice being given to the stockholders, pay the
said company the amount of the cost of the said road, with such an interest thereon as shall make
it equal, with the tolls received, to ten per centum, from the investments of their monies, and that
^henceforward the tolls shall be subject to the regulation of the legislature.

XXVII. AND BE IT ENACTED, That the said company shall cause posts to he erected at the in-
tersection of every public road falling into and leading out of the said turnpike road, with a board
and index hand, pointing to the direction of such road, on both sides whereof shall be inscribed, in
legible characters, the name of the town, village or place, to which such road leads, and the dis-
L

CHAP.
CXXVIII.



 
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Session Laws, 1809
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