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Session Laws, 1831
Volume 213, Page 461   View pdf image (33K)
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1831.

LAWS OF MARYLAND.

CHAP. 330

Sec 7. And be it enacted, That the seventh section of the

 

act to which this is a supplement, be, and the same is here-

[See image for text]

by repealed.

 

Sec. 8. And be it enacted, That the reconnoisances and

Surveys &c.

deemed a com-

surveys made by the said company as preliminary to the lo-

mencement-pro

cation of the said rail road, shall be deemed and be consider-

vided.

ed a commencement of the said road, if they, shall proceed

 

to the actual construction thereof within one year from the

Time to cempleat.

passage of this act, and if the said company shall not com-
plete the said road with at least one set of tracks so as to be

 

used and travelled on from the commencement of it, as au-

 

thorised by this act, to the line of the District of Columbia,

 

within three years after the commencement of the actual

 

construction, the legislature hereby reserve the right to in-

Right resumed.

corporate another company, or to authorise any other per-

 

sons in their discretion to lay out and make a rail road on,

 

and over any ground, and in any direction between the city

 

of Baltimore and the District of Columbia, any thing in this

 

act, or in the act to which it is a supplement to the contrary

 

notwithstanding.

After right years
certain claims of

Sec. 9. And be it enacted, That after the expiration of

holders of other

eight years from the time of declaring and paying the second

additional stock to

half yearly dividend of the net profits derived from the use

 

of the said rail road as authorised by this act, the right of

 

the holders of the additional shares of btock of the Baltimore

 

and Ohio rail road company subscribed in virtue of this act,

 

to receive any proportion or dividend of the said net pro-

 

fits, shall cease and determine, and their said proportion

 

shall be paid to the Baltimore and Ohio rail road company

 

as a part of their general funds; and the holders of the said

 

additional shares of stock, shall thereafter be entitled to re-

 

ceive the same dividends as, and in common with the other

 

stockholders of the said company and no other, and the

State right reserved

right and option is heieby reserved to the state of Mary-

 

land to hold forever, as a separate and distinct stock, its

 

proportion of interest in the said rail road or to take at any

 

time and thereafter hold the whole, or any part of such pro-

 

portion in the general stock of the Baltimore and Ohio

Option reserved.

rail road company, and receive the full proportion of divi-

 

dends thereon as other stockholders, and when the state

 

shall so elect to take and hold the general stock of the said

 

company for its whole proportion of interest in the said rail

 

road, the same option may be exercised by all the other

 

stockholders then holding a separate interest in the said

 

rail road in virtue of this act.



 
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Session Laws, 1831
Volume 213, Page 461   View pdf image (33K)
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