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Dec. Ses. 1817
Deed
Privileges &c.
transferred to
purchasers.
Stock to be
personal pro-
perty.
Assessments
made declared
an augmentati-
on of stock.
Amt of debts
to be ascertain-
ed, &c.
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in each of the following places, to wit: Philadelphia, Lancaster
and Harrisburg, in the state of Pennsylvania, and Baltimore, Fre-
derick-town, and Easton, in this state; which notice shall be con-
tinued until the time of sale, twice a week in those of the said
places where there shall be a newspaper published so often, mid
once a week in others.
3. And be it enacted, That the deed from the said corporation to
the purchasers at the said sale, shall name particularly all the
purchasers, and shall specify their respective portions of interest
in the property, and that the said purchasers shall hold as tenants
in common for their several portions as aforesaid.
4. And be it enacted, That all the powers, privileges and immu-
nities, now enjoyed by the proprietors of the Susquehanna Canal,
shall be transferred to, and vested in, the purchasers aforesaid,
who shall become a body corporate, by the same name, and with
all the powers, privileges, rights and interests, of the present pro-
prietors of the Susquehanna Canal aforesaid, and that the said
canal, with all the appertenances thereunto in any manner belong-
ing, and all the estate real and personal, sold and conveyed as
aforesaid, shall be and hereby are vested in the said new corpora-
tion, and their successors, to be held as the property and estate of
the said corporation.
5. And be it enacted, That the stock and shares of the new cor-
poration hereby erected, shall be personal property in the stock-
holders respectively, and shall he transferrable on the books of the
said corporation in such manner as the said company, by its reso-
lution or by-law, shall from time to time direct and appoint.
6. And be it enacted, That all assessments heretofore made by
the present corporation, or by their authority, on, individual stock-
holders, and collected, and all loans made by individual stockhold-
ers to the corporation, which assessments and loans have been by
subsequent resolutions of the said corporation directed to he carri-
ed to the amount of stock and shares of such individual stockhold-
ers respectively, as an augmentation of stock or interest, shall he,
and hereby are declared to be, augmentation of stock or interest in
the said individual stockholders respectively, and as such shall be
considered in the dividend to be made of any surplus monies aris-
ing from the sale authorised by this act, but shall not be consider-
ed as debts due from the corporation, to bo paid out of the pro-
ceeds of such sale or otherwise. .
7. And be it enacted, That the governor and directors of the Sus-
quehanna Canal aforesaid, shall be and they hereby are authorised
and empowered, to ascertain the amount of debts due from the com-
pany, and of all such sums as may in their judgment be necessary
for completing, carrying on, repairing or improving, the said ca-
nal, and from time to time to assess all such sums on the members
of the corporation, in proportion to their several sums and interest,
and to appoint such times and places of payment as may in their
opinion be necessary and proper; and if any stockholder in the
said corporation, after two months notice of any such assessment,
and of the time and place of payment, to be published in any two
newspapers of the city of Baltimore, or served personally on him
or her, or his or her agent or representative, or left at their usual
place of abode, shall refuse or neglect to pay such assessment at
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