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one hundred thousand dollars, for the purpose of erecting a toll
bridge across the Potomac river opposite Shepherd's-town aforesaid;
which sum shall be divided into two thousand shares of fifty dol-
lars each; every person at the time of subscribing shall pay to
some one of the commissioners five per cent, on the amount of his
subscription, and the said commissioners shall pay over what they
have respectively received to the president and directors herein
after mentioned, so soon as they may be appointed.
2. And be it enacted, That the books aforesaid shall be opened in
the respective towns aforesaid, on the first Monday in June next,
provided the legislature of Virginia shall have previously assented
to the provisions of this act, at such particular houses in said towns
as the commissioners aforesaid, in the places aforesaid, may appoint
by public notice, which books shall be continued open for three
successive days and then be closed, and as soon as the books shall
be closed in the respective places aforesaid, the several commission-
ers shall immediately send in to the commissioners aforesaid for
Shepherd's-town, the amount subscribed for,at the respective places
aforesaid, with a list of the subscribers; and if it shall appear
that fifty thousand dollars, or one thousand shares shall have been
subscribed for, or whenever that amount and number of shares shall
be subscribed for, the said subscribers and stockholders, and those
who may thereafter subscribe, shall be and are hereby made a body
politic and corporate, by the name and style of The Potomac and
Shepherd's-town Bridge Company, and as such may sue and be
sued, implead and be impleaded, and shall have perpetual succes-
sion as such.
3. And be it enacted, That if it shall appear to said commission-
ers at Shepherd's-town, that the aforesaid sum of fifty thousand
dollars has been subscribed for, or whenever that sum shall be
subscribed for, then the said commissioners, or such of them as may
act, or a majority of such of them as may act, shall give public no-
tice for a meeting of the stockholders in Shepherd's-town, who shall
in person, or by proxy duly authorised, proceed to elect nine di-
rectors, being citizens of Maryland or Virginia, to manage the af-
fairs of said company, until the next election herein after provided
for, who from their own body shall choose a president, and shall
appoint a treasurer, clerk, collector, and all other officers, agents
and servants, necessary to conduct the concerns of said company,
requiring of them to give such security for the faithful performance
of their duty as they may deem reasonable and right; and shall also
have the power of making such allowance to the president, and other
officers, as they may think reasonable; and in voting at all elections
for directors, and on all other occasions, each stockholder shall be
allowed one vote for each share not exceeding ten, and one vote
for every five shares above ten, by him held at the time, in said
company; but if it should appear from the returns aforesaid that the
sum of fifty thousand dollars has not been subscribed for, then the
said commissioners at Shepherd's-town, or any two of them, shall
cause books to be again opened at such places, and at such times,
and under the direction of such commissioners as they may appoint,
until at least the aforesaid sum of fifty thousand dollars, or one
thousand shares, shall have been subscribed for; and if, from the
returns of said commissioners, it shall appear that more than one
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CHAP. 73.
To be opened on
the first Monday
in June next, and
continue open for
three successive
days.
When $50,000
are subscribed,
stockholders to
meet and elect di-
rectors, &c.
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