PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847.

SEC. 4. And be it enacted, That whenever the num-
ber of one hundred shares shall have been subscribed for
the said company, or a majority of them in interest, shall
call a general meeting of the subscribers, to be held at
such time and place in the county aforesaid as the said sub-
scribers, or a majority of them may deem proper, and
such of the said subscribers as shall be present at the said
meeting.or a majority of them, shall be authorised and em-
powered to elect a president and five directors to man-
age the affairs of the said company for one year and
until a new election is had in the manner and form di-

CHAP. 204.

First election
of directors.

rected in the bye-laws of the said company; provided,
that no subscriber shall be entitled to vote for president
and directors, whose stock shall not have been paid in
as required by this act and the bye-laws, of the said
company.

Proviso.

SEC. 5. And be it enacted. That the said president
and directors shall have power to appoint the time and
direct the manner of holding the elections for president
and directors, which election shall be made annually,
may provide for calling the general meeting of the
stockholders, may pro vide the mode of transferring the
stock of the company, and furnishing evidence of the
ownership of shares in said company, may have the
power and authority to regulate and fix the amount of
toll to be paid by persons using and passing along and
on said canal.

Duty of Di-
rectors.

SEC. 6. And be it enacted, That the president and
directors who may be chosen in the manner hereinafter
provided for, shall have full and ample power and
authority to survey, examine, select and locate such con-
venient route for said canal as they may deem most ad-
vantageous, and the same to cut, dig, excavate and
make from such point on Blackwater river to such other
point or place as they may select on Cambridge creek,
and to divert or change from their usual course the wa-
ters of any stream, creek or river which they may find
suitable and necessary for the purpose, the said presi-
dent and directors having first obtained the consent of
all and every person or persons having any rights, pri-
vileges or interests in the same, and also the consent of
the owners of the land through which said canal may
pass, and if it be necessary that said canal should pass

To locale ca-
nal.

through the land of any person whose consent cannot be

bad, the damages to be paid by the company aforesaid
shall be assessed by a jury to be summoned and empan-
nelled by the sheriff of Dorchester county, and upon
application to the sheriff of said county by the presi-
dent and directors aforesaid it shall be his duty to sum-

Damages—
how ascertain-
ed.