Chapter XXVII. authorizing the subscription of stock in the Chesapeake and Delaware Canal Company, and in the Dismal Swamp Canal Company
230 words·~1 min read·
/statutes-at-large/vol-4/chapter-xxvii-1595765·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Chap. XXVII.— An Act authorizing the subscription of stock in the Chesapeake and Delaware Canal Company, and in the Dismal Swamp Canal Company. March 2, 1829. [Obsolete.] *Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, * Secretary of Treasury to subscribe for 750 shares Chesapeake and Delaware canal. That the Secretary of the Treasury be, and he is hereby, authorized and directed to subscribe, in the name and for the use of the United States, for seven hundred and fifty shares of the capital stock of the Chesapeake and Delaware Canal CompanyFor 200 shares Dismal Swamp canal. ; and, also, for two hundred shares of the capital stock in the Dismal Swamp Canal Company, and pay for the same, at such times, and in such proportions, as may be required by the said companies respectively; to be paid out of any money in the treasury not otherwise appropriated.
Sec. 2. Secretary to vote for president and directors.To receive dividends. *And be it further enacted, *That the Secretary of the Treasury shall vote for president and directors of the said companies respectively, according to such number of shares, and shall receive upon the said stock the proportion of the tolls which shall, from time to time, be due to the United States for the shares expended. Approved, March 2, 1829.