JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 533

ledges and franchises now held and enjoyed by the
Chesapeake and Ohio Canal Company, under its
charter passed by the Legislature of the State of
Virginia, at the December session, eighteen hundred
and twenty-three, and ratified by the State of Mary-
land, at the December session, eighteen hundred
and twenty-four, and the several supplements thereto so far as the same may be applicable for the purpose	May construct canal
of constructing a canal and all the dams, locks,
feeders and other works, and devices of every sort or
description appertaining thereto, in constructing a
canal from such point on the Patapsco River, at or
near the City of Baltimore, by the most available
route to the eastern branch of the Potomac River, as
the President and Directors may select, and in the
same manner and to as large an extent as if said
rights, powers, exemptions, privileges and franchises
had been particularly granted to the Maryland Canal
Company by this act.
SEC. 2. And be it enacted, That the capital stock of
the said Maryland Canal Company shall consist of	Capital stock
four millions of dollars, divided into forty thousand
shares of the par value of one hundred dollars each,
which shall be considered as personal property, and
shall be transferable in such manner as'may be pro-
vided by the by-laws of said company ; and each
share thereof shall entitle the holder thereof to one
vote in all meetings of the stockholders of said com-
pany, to be given either in person or by proxy, duly
appointed by an instrument in writing properly exe- cuted before some officer authorized to take acknow-	Subscription
ledgements of deeds ; and for the purpose of obtain-
ing subscriptions to the said capital stock, books shall
be opened under the direction of A. P. Gorman, R.
H. Baldwin, M. Bannon, W. H. Tuck, and James
G. Berret, or a majority of them, at such time, in
such place and under such regulations, as to the
mode, manner and time of payment and otherwise, as
they, or a majority of them, shall decree expedient
SEC. 3. And be it enacted, That whenever subscri-p
tions to the amount of one million of dollars shall	Meet and or-
have been obtained, the subscribers or a majority in	ganize
value thereof, shall have authority to meet and organ-
ize said company by the election of one of their num-
ber to the office of President of said company, and