LEVIN WINDER, Esq. GOVERNOR.

115

of this act into effect, until the managers of said compa-
ny are chosen in the manner hereinafter provided for.
4. AND BE IT ENACTED, That as soon as the
stock aforesaid shal1 have been subscribed, the president
and directors of each of the said banks so subscribing,
shall choose one manager out of the stockholders in their
respective banks for every twenty five thousand dollars
of road stock by them subscribed, reserving however to
each of the said banks the choice of one manager, al-
though its quota of stock may not amount to that sum;
which said managers shall assemble and choose from
among themselves a president, and shall elect a treasu-
rer, and other necessary agents and officers, and the said
president managers and treasurer shall, in all things act
as such until a president, managers and treasurer are
elected in the month of October next thereafter, as pro-
vided for by the first section of this act.

Dec. Sess.
1813.

Managers.

5. AND BE IT ENACTED, That this road shall
be cleared out, stoned and made, in the same manner as
is the Baltimore and Frederick-Town turnpike road, and
shall in no place rise or fall more than will form an angle

Road shall
be cleared, &c.

of five degrees with a horizontal linn; Provided, That
where in the opinion of the said company, any part of
the said road will not require stoning, and they can and
do at a diminished expence, make such parts of said road
without stoning, then and in that case they shall be enti-
tled to the same tolls as if the same had been stoned;

Proviso.

Provided, That such parts of said road be kept in good
and sufficient repair, and answer all public purposes as
well as if the same had been stoned.

Proviso.

6. AND BE IT ENACTED, That if the said com.
pany shall not commence the making of the said turnpike
road within two years from the passage of this act, and
shall not complete the same in. eight years thereafter,
the right of the said company to the said road shall re-
vert to the state of Maryland, and the charters of the

said banks are hereby declared to expire.

Road not
being complet-
ed the right
shall revert to
the date.

7. AND BE IT ENACTED, That from and after
the first day of January eighteen hundred and fifteen,
and the end of the session of the General Assembly next
thereafter, the president directors and company of every
incorporated bank in this state shall annually, on the
first day of January, after the first day of January eigh-
teen hundred fifteen pay, or cause to be paid, to the trea-
surer of the western shore of the state of Maryland, the
sum of twenty cents on every hundred dollars of the
capital stock of each bank actually paid in, or which may
hereafter be paid in; and any of the said banks neglect-
ing to make such payment for the space of six months
after the same shall have become payable, shall thereby
forfeit their charters, which shall then be considered null
and void, and no longer continued under the provisions
of this act.

Capital for

banks taxed.
Banks neglect-
ing shall for-
feit their char-
ters.