[ 68 ] 9 
he appointed to supply; and when any part of the canal aforesaid shall 
have been completed, according to the true intent and meaning of tliis 
act, the president and directors of the company hereby created, shall 
have power, and it shall be their duty, to ordain and establish a rate 
oi tolls to be paid upon boats, vessels, rafts or other property, passing 
on the part of the canal so completed, and so, from time to time, as 
pai't or parts shall be completed, and until the eastern section thereof 
shall be finished up to the mouth of Savage river or creek, and there- 
atter until the entire canal shall have been finished, according to the 
true intent and meaning of this act; for the collection of which tolls, 
the president and directors shall have power to establish so many 
toll-houses, and at their pleasure to appoint and remtsve so many col- 
lectors, and at such places as, from time to time, they may judge ex- 
pedient, and tiie said president and directors shall have full authority, 
subject to the direction and control of a majority in interest, of tiie 
stockholders represented in any general meeting, to regulate and fix 
a tariff of tolls, not exceeding an average of two cents per ton per 
mile, and so to adjust the said tolls, in relation to the capacity or bur- 
then of the boats, and the dimensions of tlie rafts passing the locks of 
the said canal, as to promote economy of water and time in the navi- 
gation thereof. 
Sec. 11. And be it enacted. That the president and directors sliall 
annually, or semi-annually, declare and make such dividend of the nett 
profits from the tolls to be received, according to the provisions of 
this act, and from the other resources of the company, as they may 
deem advisable, after deducting therefrom the necessary current, and. 
the probable contingent expenses, to be divided among the proprietors 
of the stock of the said company, in proportion to their respective 
shares, in manner following, t!iat is to say: if such nett profits shall 
not exceed ten per cent on the amount of shares which shall have been 
paid for in current money of the United States, and exi)ended on the 
eastern section of the said canal, then the whole thereof shall be di- 
vided among the holders of such shares, in proportion to their respec- 
tive shares; hut if such nett profits shall exceed t!ie rate of ten per 
cent, per annum, in any year, on such amount of stock, then the sur- 
plus shall be divided among such stockholders as shall have paid for 
their sliares in certificates of the debts of the Potomac coaipany, until 
they shall therefrom have received a dividend of six per cent, and if a 
surplus yet remain, the same shall be divic'cd among the stockholders 
who shall have paid for their shares in certificates of the stock of the 
Potomac company, until they shall have received tlierefrom a divi- 
dend of six per cent per annum on such shares; and if a surplus still 
remain, so long as the western section of the canal shall remain un- 
finished, such surplus shall be applied, from time to time, to the con- 
struction and completion thereof, in such mode as the president and 
directors, under such rules and regulations, not inconsistent wlih the 
constitution of the United States, or of the several states aforesaid, as 
the stockholders or a majority thereof, in general meeting, may pre- 
scribe, until the western section of the cana! sliall be also completed; 
2 
