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by beginning at, and striking off, a share from the largest subscript 
tion or subscriptions, and continue to strilve off a share from all sub- 
scriptions under tlie hirgest and above one share, until the same is 
reduced to the capital aforesaid, or until a share is taken from all 
subscriptions above one share; and lots shall be drawn between sub- 
scribers of equal sums, to determine tlie number of sliarcs v\ hicli each 
subscriber shall be allowed to hold, on a list to be made for stiiking 
off as ;vloresaid; and, if the siini subscribed still exceed the capital 
aforesaid, then to strike off, by the same rule, until the sum subscribed 
is reduced to the capital aforesaid, or all the subscriptions reduced to 
one share, respectively; and, if there still be an excess, then lots siiaU 
be drawn to determine the subscribers ^^ho are to be excluded in order 
to reduce the subscription to the capital aforesaid, v^ hich striking off 
shall he certified on the lists aforesaid; and the said capital stock of 
the company hereby incorporated, shall consist of six millions of dol- 
lars, divided into sixty tiionsand shares of one hundred dollars each; 
of which eyevy person subscribing, may take and subscribe loi- one or 
more whole shares, and such subscriptions may be paid and discharged 
either in the legal currency of the United* States, or in the certiiicates 
of stock of the present Potomac Comj)any, at the par or nomiual value 
thereof, or in the claims of the creditors of the said con)pany, certi- 
fied by the acting president and directors to have been due, for princi- 
pal and debt, on the day on which t!ie assent of the said company 
shall have been signified by their corporate act, as herein befoie jc- 
quired: Frovidedf'lhai. the said certificates of stock shall not exceed, 
in the whole amount, the sum of three bundled and eleven thousand 
one hundred and eleven dollars and eleven cents: nor the said claims 
the sum of one hundred and seventy five thousand eight hundi'cd dol- 
lars: Provided, also. That the stock so paid for in certificates of tiifi 
stock of the ju'esent company, and of tlie debts due from the said cum 
pany, shall be entitled to dividend only, as hereinafter pro\ ided, and 
that no payment shall be received in such certificates of stoi.k, until 
the Potomac Company shall have executed the conveyance prescribed 
by the thirteenth section of this act; and provided, that, unless one-fousth 
of the said capital shall be subscribed as aforesaid, all subscriptions, 
made in consequence of this act, shall be void; iind in case onefoui-th, 
and less than the whole capital shall be subscribed as aforesai<l, then 
the said commissioners, or a majority of them, are hereb_> empowered 
and directed to take and receive the subscriptions which shall fii'st be 
offered in whole shares as aforesaid, until the deficiency shall be made 
up, a certificate of which additional subscription shall be made under 
the hands of said commissioners, or a majority of them, for the time 
being, and returned as aforesaid. 
Sec. S. Jnd be it enacted^ That, v\henever one-fouith, or a 
greater part of the said stock shall have been subscribed, in the man- 
ner aforesaid, then the subscnbei-s, their heirs and assigns, shall bt^ 
and are hereby declaied to be, iucor|)orated into a company, by the 
name of the *' Chesapeake and Ohio Canal Company," and may sue 
and be sued, and as such shall kavc peipctual succession, ajid a 
