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So... , 3. And be it further enacted, That in case one half of the said cacorporated, shall ...: -: - ... j. pital, or a greater sum shall be subscribed as aforesaid, the said suband four direc- scribers, and their heirs and assigns, from the time of the said first tovo ** meeting, shall be, and are hereby declared to be incorporated into a akell. company by the name of the Shenandoah Company, and may sue and be sued as such ; and such of the said subscribers as shall be present at the said meeting, or a majority of them, are hereby em— powered and required to elect a president and four directors, for conducting the said undertaking, and managing all the said com— pany’s business and concerns, for and during such time, not exceed– ing three years, as the said subscribers, or a majority of them, shall think fit; and in counting the votes of all general meetings of the said company, each member shall be allowed one vote for every share, as far as ten shares, and one vote for every five shares above ten, by him or her held at the time in the said company, and any proprietor by writing under his or her hand, executed before two witnesses, may depute any other member or proprietor to vote and act as proxy for him or her, at any general meeting. o: 4. And be it further enacted, That the said president and direcors in managing tors so elected, and their successors, or a majority of them assemthe company's bled, shall have full power and authority to agree with any person ‘.... or persons, on behalf of the said company, to cut such canals and pointing officers, &c. erect such locks, and perform such other works, as they shall judge necessary, for opening, improving and extending the navigation of the said river, to the highest parts of the North and South Branches, to which navigation can be extended, and carrying on the same * from place to place, and from time to time, and upon such terms and in such manner, as they shall think fit; and out of the money arising from the subscriptions and the tolls, and the other aids herein after given, to pay for the same, and to repair and keep in order the said canals, locks, and other works necessary thereto, and to defray all incidental charges, and also to appoint a treasurer, clerk and such other officers, toll-gatherers, managers and servants, as they shall judge requisite, and to agree for and settle their respective wages or allowances, and settle, pass and sign their accounts, and also to make and establish rules of proceeding, and to transact all the other business and concerns of the said company, How compensa. in and during the intervals, between the general meetings of the ted for their ser- same ; and they shall be allowed as a satisfaction for their trouble vices. therein, such sum of money as shall, by a general meeting of the Treasurer to en- subscribers be determined. Provided always, That the treasurer te, no.o. shall give bond, in such penalty, and with such security, as the said with security &c. president and directors, or a majority of them, shall direct, for the true and faithful discharge of the trust reposed in him, and that the allowance to be made to him for his services, shall not exceed three pounds in the hundred for the disbursements by him made, and that no officer in the said company, shall have any vote in the settlement or passing of his own account.
i.e.: 5. And be it further enacted, That the said president and direc: J. P. tors, and their successors, or a majority of them, shall have full of money on each power and authority from time to time, as money shall be wanting, sharesholl be, to make and sign orders for that purpose, and direct at what time *...* and in what proportion the proprietors shall advance and pay off the
scribers, sums subscribed, which orders shall be advertised at least one month
No. II. * in the Winchester Gazette aforesaid, and they are hereby authorised and empowered to demand and recove of the several proprietors, from time to time, the sums of money so ordered to be advanced for carrying on nd executing, or repairing and keeping in order, the said works, until the sums subscribed shall be fully paid, and to order the said sums to be deposited in the hands of the treasurer, to he by him disbursed and paid out as the said president and directors,
or a majority of them, shall order and direct; and if any of the said penalty on delin. proprietors shall refuse or neglect to pay the said proportions with- quent subscri, in one month after the same so ordered and advertised, as aforesaid, bers.
the said president and directors, or a majority of them, may sell at auction and convey to the purchaser, the share or shares of such proprietors so refusing or neglecting payment, giving at least one month's notice of the sale in the Winchester Gazette aforesaid. After retaining the sum due and charges of sale, out of the money produced thereby, they shall refund and pay the overplus if any, to the former owner, and if such sale shall not produce the full sum ordered and directed to be advanced, as aforesaid with the incidental charges, the said president and directors, or a majority of them, may in the name of the company, sue for and recover the balance by action of debt, or on the case, and the said purchaser or purchasers shall be subject to the same rules and regulations, as if the said sale and conveyance had been made by the original proprietor.
6. And to continue the succession of the said president and di- President, &c.
rectors, and to keep up the same number, Be it enacted, That from time to time upon the expiration of the said term for which the said
re-eligible & removable pleasureof stock
president and directors were appointed, the proprietors of the said holders.
company at the next general meeting, shall either continue the said president and directors, or any of them, or shall choose others in their stead, and in case of the death, removal, resignation or incapacity of the president or any of the said directors, may and shall, in manner aforesaid, eiect any other person or persons to be president and directors in the room of him or them so dying, removing or resigning, and may at any of their general meetings remove the president, or any of the directors, and appoint others for and during the remainder of the term for which such person or persons were at first to have acted.
7. And be it further enacted, That every president and director before he acts as such, shall take an oath or affirmation for the due execution of his office.
8. And be it enacted, That the presence of proprietors having one hundred and twenty-five shares shall be necessary to constitute a general meeting; and that there be a general meeting of proprictors on the first Monday in October annually, at such convenient town as shall from time to time be appointed by the said general meeting, but if a sufficient number should not attend on that day, the proprietors who do attend, may adjourn such meeting from day to day, till a general meeting of proprietors shall be hod, which may be continued from day to day, until the business of the company is finished, to which méeting the president and directors shall make report, and render distinct and just accounts of all their proceedings; and on finding them fairly and justly stated, the proprietors then present, or a majority of them, shall give a certificate thereof, a
- D do
President, &c. shall take oath of office.
No.of shares nea cossary to const:ttite a gereral nection, which shall take place annually, & may adjour" if necessary from day to day—& to which president, &c. shall render aca counts of their proceedings:
duplicate of which shall be entered on the said company’s books : And at such yearly general meetings, after leaving in the hands of the treasurer such sum as the oroprietors or a majority of them shall judge necessary for repairs and contingent charges, an equal dividend of all the neat profits, arising from the tolls hereby granted, shall be ordered and made to and among all the proprietors of the
Extra meetings said company, in proportion to their several shares: And upon any
o **PPoint emergency in the interval between the said yearly meetings, the pre
we sident, or a majority of the said directors, may appoint a general meeting of the proprietors of the said company, at any convenient town, giving at least one month's previous notice in the Winchester Gazette aforesaid, which meeting may be adjourned and continued as aforesaid.
toll, demanda. 9. And be it further enacted, That for and in consideration of the ble for the use of expenses the said proprietors will be at, not only in cutting the said o: canals, erecting locks and other works for opening the different falls vested in the * of the said river, and in improving and extending the navigation stockholders, & thereof, but in maintaining and keeping the same in repair; the said to opt- canals and works, with all their profits, shall be, and the same are wd from taxation. hereby vested in the said proprietors, their heirs and assigns, forever, as tenants in common, in proportion to their respective shares, and the same shall be deemed real estate, and be forever exempt from payment of any tax, imposition, or assessment whatsoever.
10. It shall and may be lawful for the said president and direc
* - tors, at all times forever hereafter, to demand and receive at Little’s
* .. Falls on the said river, or any place below the same falls which the
president and directors or a majority thereof shall fix upon for that purpose, the following tolls or rates, that is to say:
Dolls. Cts; For every pipe or hogshead of wine, containing more than sixty-five gallons, - - - 66 every hogshead of rum or other spirits, - 5.5 every hogshead of tobacco, - - • . 44
every cask between sixty-five and thirty-five gallons,
every bushel of wheat, peas, beans, or flax-seed, 2 every bushel of Indian corn or other grain, or salt, 1 every barrel of pork, - - - - 22 every barrel of beef, - - - - 15 - every barrel of flour, - - - - 11 every ton of hemp, flax, pot-ash, bar or manufactured iron, - - • - - 1 10 every ton of pig iron or castings, - - , 40 every ton of copper, lead, or other ore, other than iron ore, - - - - 90 every ton of stone, or iron ore, - - - 20 every hundred bushels of lime, - - 55 every chaldron of coals, - - - 20 every hundred pipe staves, - - * 9
every hundred hogshead staves, or pipe or hogs-
No. II. * Dolls. Cts, For every hundred barrel staves or barrel heading, 4. every hundred cubic feet of plank or scantling, 40 every hundred cubic feet of other timber, - 22 every gross hundred weight of all other commodities and packages, - - - 6
every empty boat or vessel, which has not commodities on board to yield so much, except an empty boat or vessel returning, whose load has already paid at the aoresaid place the sum fixed, in which case she is to repass toll free, 1 10 which tolls may be discharged in dollars and cents, or other coin made current by law.
11. And in case of refusal or neglect to pay the tolls at the time of offering to pass through the place aforesaid, and previous to the vessel's passing through the same, the collectors of the said tolls may lawfully refuse passage to such vessels; and if any vessel shall pass without paying the said tolls, then the said collectors may seize such vessel wherever found and sell the same at auction, for ready
Penalty for nonpayment of tolls:
In othey, which so far as is necessary, shall be applied towards pay
ing the said tolls, and all expenses of seizure and sale, and the balance, if any, shall be paid to the owner: And the person having the direction of such vessel, shall be liable for such toll, if the same is not paid by sale of such vessel as aforesaid. Provided, That the said proprictors, or a majority of them, holding at least three hundred shares, shall have full power and authority, at any general meet
ing, to lessen the said tolls, or any of them, or to determine that any article may pass free of toll.
12. And be it further enacted, That the said river and the works to be erected thereon in virtue of this act, when completed, shall forever thereafter be esteemed and taken to be navigable as a public highway, free for the transportation of all goods, commodities, or produce whatsoever, on payment of the tolls imposed by this act, and no other toll or tax whatever for the use of the water of the said river, and the works thereon erected, shall at any time hereafter be imposed by the General Assembly of Virginia.
13. And whereas it is necessary for the making the said canal, locks, and other works, that a provision should be made for condemning a quantity of land for the purpose, Be it enacted, That it shall and may be lawful for the said president and directors, or a majority of them, to agree with the owners of any land through which the said canal is intended to pass for the purchase thereof, and in case of disagreement, or in case the owner thereof shall be a feme covert, under age, non compos, or out of the state, on application to any two justices of the county in which such land shall lie, the said justices shall issue their warrant under their hands, to the sheriff of their county to summon a jury of twenty-four inhabitants of his county, of property and reputation, not related to the parties, nor in any manner interested, to meet on the land to be valued, on a day to be expressed in the warrant, not less than ten, nor more than twenty days thereafter; and the sheriff upon receiving the said warrant, shall forthwith summon the said jury, and when met, provided that not less than twelve do appear, shall administer an oath or affirma
Jurors convened tion to every juryman who shall appear, “That he will faithfully, o". “justly and impartially, value the land, (not exceeding in any case ors. “ the width of one hundred and forty feet) and all damages the own“er thereof shall sustain by cutting the canal through such land, ac“cording to the best of his skill and judgment, and that in such va“luation he will not spare any person, through fear or affection, nor Trquisition to be “any person grieve, through malice, hatred or ill-will.” And the in**** *** quisition thereupon taken, shall be signed by the sheriff and some o: twelve or more of the jury, and returned by the sherini to the clerk recorded—their of his county, to be by him recorded ; and &pon every such valuativalua on of o- on, the jury is hereby directed to describe and ascertain the bounds jo ** * of the land by them valued, and their valuation shall be conclusive closive. on all persons, and shall be paid by the said president and directors to the owner of the laud, or his legal representative, and on payment thereof, the said company shall be seized in fee, of such land, as if conveyed by the owner to them and their successors by legal Provise. conveyance. Provided nevertheless, That if any farther damage * shall arise to any proprietor of land in consequence of opening such canal, or in erecting such works, than had been before considered and valued, it shall and may be lawful for such proprietor, as often as any such new damage shall happen, by application to, and a warrant from any two justices of the county where the lands lic, to have such farther damage valued by a jury in like manner, and to receive and recover the same of the said president and directors: Further proviso. But nothing herein shall be taken or construed to entitle the proprietor of any such land to recover compensation for any damages which may happen to any mills, forges, or other water-works or improvements which shall be begun or erected by such proprietor, after such first valuation, unless the said damage is wilfully or maliciously done by the said president and directors, or some person by their authority. *- *
president, &c. to 14. And be it further enacted, That the said president and direcpurchase à piece tors, or a majority of them, are hereby authorised to agree with the o o * proprietors, for the purchase of a quantity of land not exceeding one !. o: acre, at or near the place of receipt of tolls aforesaid, for the purce, dings in case pose of erecting necessary buildings; and in case of disagreement or of disagreement any of the disabilities aforesaid, or the proprietor being out of the o * state, then such land may be valued, condemned, and paid for as aforesaid, for the purpose aforesaid ; and the said company shall, upon payment of the valuation of the said land be seized thereof in fee simple, as aforesaid.
Company may 15. And whereas some of the places through which it may be notuse the water necessary to conduct the said canals, may be convenient for erecto: J.". ing mills, forges, and other water works, and the persons possessors jo" of such situations may design to improve the same ; and it is the owners of land intention of this act not to interfere with private property, but for o: so the purpose of improving and perfecting the said navigation: Be it & enacted, That the water or any part thereof conveyed through any canal cut or made by the said company, shall not be used for any purpose but navigation, unless the consent of the proprietors of the land through which the same shall be led, be first had, and the said president and directors, or a majority of them, are hereby empowered and directed, if it can be conveniently done, to answer both the
purposes of navigation and water-works afcresaid, to enter into rear