THE 
 
 COAL AND IRON MINES, 
 
 O F T H E 
 
 UNION POTOMAC COMPANY, 
 
 (INCORPORATED BY VIRGINIA,) 
 
 AND OF THE 
 
 UNION COMPANY, 
 
 (INCORPORATED BY MARYLAND,) 
 
 COMPRISING UPWARDS OF 
 
 FIFTYSIX THOUSAND ACRES OF LAND, 
 
 SITUATE IN 
 
 ALLEGHANY COUNTY, MARYLAND, 
 
 AND I N ' 
 
 HAMPSHIRE COUNTY, VIRGINIA. 
 
 BALTIMORE: 
 
 PRINTED BY JOHN MURPHY, 
 146 MARKET STREET. 
 
 1 8 4 0. 
 
VVn'i'^e c 
 
 VI 
 
 
 Digitized by the Internet Archive 
 in 2017 with funding from 
 
 University of Illinois Urbana-Champaign Alternates 
 
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 https://archive.org/details/coalironminesofuOOunio 
 
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 5 
 
 PROSPECTUS. 
 
 To provide a continous navigation between the 
 waters of the Chesapeake Bay and the Ohio river, 
 by the Potomac route; and, especially, to develope 
 the inexhaustible Coal and Iron Mines of the Alle¬ 
 ghany region, through which that route passes, the 
 Congress of the United States, and the Legislature of 
 Virginia, Maryland and Pennsylvania, in the years 
 1824,—5, and 6, incorporated a company with power 
 to construct the Chesapeake and Ohio Canal in three 
 sections, the eastern-most of which extends from tide 
 water at Georgetown, up the Potomac river to Cum¬ 
 berland, the distance being about 190 miles: and in 
 accordance with their design, the Congress of the 
 United States subsequently authorised an extension 
 of said Canal, from Georgetown down the valley 
 of the Potomac river, about Ten Miles, to Alexandria; 
 and the State of Maryland likewise authorized its 
 being extended by the Maryland Canal Company to 
 the City of Baltimore, the distance being about 40 miles. 
 
 Towards the construction of the said section of the 
 Chesapeake and Ohio Canal, the Government of the 
 United States, the Cities in the District of Columbia, 
 the Government Viro-inja, and individuals have 
 
4 
 
 contributed, by subscriptions for Capital Stock, up¬ 
 wards of Three Millions of Dollars :—and the State 
 of Maryland has, in like mode, contributed about 
 Five Millions of Dollars; and by a Loan secured by 
 the Mortgage of the whole work, Two Millions of Dol¬ 
 lars, or, together, Seven Millions of Dollars—making 
 in all, an aggregate sum of Ten Millions of Dollars. 
 
 With these means the eastern section of the Chesa¬ 
 peake and Ohio Canal has been constructed and the 
 navigation opened, from tide water at George¬ 
 town, the distance of 140 Miles—to a point 5 miles 
 above Dam No. 6, which is 10 miles above, or West 
 of Hancock ; and to reach Cumberland, there yet re¬ 
 main about 50 miles more, to be completed; but of 
 this, extensive and costly portions are now being ex¬ 
 ecuted, so that the whole may be completed by the 
 spring of 1842. 
 
 Until the Canal reaches Cumberland, where it 
 will be connected with the Coal Mines by short rail 
 roads and other ways the very large investments of Cap¬ 
 ital already expended on that work, must remain so un¬ 
 productive, that the State of Maryland, as its chief pro¬ 
 prietor, will find it absolutely necessary to provide the 
 means required to finish the Eastern Section, as soon 
 as practicable. 
 
 And there is good reason to believe that when 
 these means shall be provided, funds will be appropri¬ 
 ated to extend the work simultanously to Baltimore; 
 as the right to use the summit waters, being both 
 branches of the Patuxent river , for that purpose, has 
 
vested in the Maryland Canal Company, whose Stock¬ 
 holders have offered to assign their privileges to the 
 Corporation of Baltimore; and if the City declines their 
 offer, the liberal privileges of that charter will certain¬ 
 ly command capital adequate for this enterprise; be¬ 
 cause, soon after the Chesapeake and Ohio Canal 
 shall be connected with the Coal Field near to Cum¬ 
 berland, there will undoubtedly pass on that work 
 and through the Maryland Canal to Baltimore, in¬ 
 dependently of other tonnage, several millions of tons 
 of Coal, annually—and if the moderate rate of but one 
 half cent, per ton, per mile, on Coal, be collected—and 
 this only on one million of tons, it would yield to the 
 Maryland Canal Company, for forty miles, two 
 hundred thousand dollars; being more than six per 
 cent, on three millions of dollars—the estimated cost 
 of the Maryland Canal, as computed by civil engineers 
 in the service, and acting under the government of 
 the United States, and therefore known to be ample 
 and correct. 
 
 Some time in the winter of 1835—6, when it was 
 believed that the State of Maryland would grant, as 
 it did in June, 1836—such further aid as was then 
 deemed necessary and sufficient to complete the 
 Eastern Section of the Chesapeake and Ohio Canal— 
 applications were made by Duff Green, to the Legis¬ 
 latures of Virginia and Maryland for acts of incorpor¬ 
 ation, to form Joint Stock Companies for the purpose 
 of extensively working Coal and Iron mines situate 
 
6 
 
 in Hampshire County, Virginia, and in Alleghany 
 County, Maryland; for which mines, he originally 
 made provisional contracts with their Proprietors, 
 at prices so moderate, that other parties may become 
 interested in the enterprise upon terms most advan¬ 
 tageous to them. 
 
 The Legislature of these States, anxious to favour 
 and secure the extension and economical working of 
 said mines, granted the desired Charters—which con¬ 
 ferred upon the Union Potomac Company, incorpor¬ 
 ated by Virginia—and the Union Company incorpor¬ 
 ated by Maryland, ample power to connect said mines 
 which centre near Westernport, by means of Rail 
 Roads, or Canal and Slack-water navigation, with the 
 Chesapeake and Ohio Canal, and the Baltimore and 
 Ohio Rail Road: and also granted various other libe¬ 
 ral and most valuable corporate privileges as is 
 hereinafter mentioned. 
 
 The accompanying Map shows the location of the 
 lands, which chiefly lie within the diagram formed 
 by broken lines, and the Sections show the veins of ore 
 and coal, near to Westernport, as verified by Major 
 Douglass, late Professor of Civil Engineering at West 
 Point, as will be seen by reference to extracts from his 
 report, given at the conclusion of this Prospectus. 
 The scale of this section, being about 200 feet to the 
 inch, is too small to represent the coal measures accu¬ 
 rately—the thickness of each vein is, therefore, given 
 on a scale of about 50 feet to the inch, and a illative 
 proportion preserved in the drawing. 
 
7 
 
 The Union Potomac Company chartered by the 
 State of Virginia, may hold forty thousand acres of 
 land ; and estate, real, personal and mixed; with the 
 privilege to use, lease, sell, or otherwise dispose there¬ 
 of; and in addition to the stock representing their 
 lands, may have a cash capital of three millions of 
 dollars. 
 
 This Company may construct a canal or slack 
 water navigation from Cumberland to the mouth of 
 Savage river, and has the right to use or sell all the 
 water privileges, thus created. They can erect and 
 carry on mills and manufactories of all kinds. They 
 may borrow money, issue their bonds therefor, and 
 dispose of the money thus borrowed , as they deem ex¬ 
 pedient. They are authorised to connect their mines 
 and manufactories with the Chesapeake and Ohio 
 Canal, and the Baltimore and Ohio Rail Road, and 
 with any other Rail Road or Rail Roads which now 
 are, or hereafter may be authorised by the State of 
 Virginia; and can charge a rate of tolls on their 
 Canal and Rail Road, yielding them fifteen per cent, 
 profit. They have liberal grants for the condem¬ 
 nation of lands, materials, &c. The charter is per¬ 
 petual ; but so much as relates to the construction 
 and working of mills and manufactories, and Coal and 
 Iron mines, shall continue in force for fifty years ; and 
 maybe altered, repealed, and modified after thirty years. 
 
 The Union Company was chartered by Maryland 
 with the right to hold a capital of Three millions of 
 
8 
 
 dollars ;—to purchase thirty thousand acres of land, 
 and to create a trust fund of Two millions of dollars 
 more, which may be invested in public securities of 
 the United States, or of either of the United States, in 
 real estate, in the stock of some other incorporated 
 Company, or in bonds or notes secured by a pledge of 
 of real estate. 
 
 This Company has the power to make Insurance 
 on lives or other casualties; to receive endowments 
 or deposits of personal or mixed property in Trust; to 
 grant annuities; to contract for reversionary payments; 
 to make all kinds of contracts in which the casu¬ 
 alties of life, or the interest of money are concerned ; 
 to acquire and dispose of goods and effects; to pro¬ 
 vide for the investment of the funds of the Company 
 in bonds and mortgages, or in such manner as they 
 may deem most beneficial. This charter is perpe¬ 
 tual ; but so much as relates to the establishment 
 and working of mills, mines or manufactories, and the 
 Trust powers may be modified or repealed after 
 thirty years. 
 
 These Companies being duly organised, and au¬ 
 thorised so to do, have formed a compact of union ; 
 whereby the shareholders are alike interested in both 
 Companies, and hold the like number of shares in 
 each. 
 
 These Companies, thus united, have purchased up¬ 
 wards of fifty-six thousand acres of land, a large part 
 thereof containing coal and iron ore ; a part of which, 
 
9 
 
 of an average quality and value, has been estimated 
 under oath by Professors Renwick, Ducatel, and Kin¬ 
 sey, at one hundred dollars per acre, considered as 
 part of the stock of a Company with Capital suffi¬ 
 cient to open and work the mines. 
 
 These lands border on the National Turnpike, 
 about seven miles west of Cumberland, and extend 
 south, crossing the Potomac a few miles below 
 Westernport, and thence extending up on both sides of 
 the Potomac, about five miles above Savage river. 
 
 It may be proper to add the following disinterested 
 testimony in relation to the quality and value of the 
 Ores and Coals on these lands, taken from official and 
 other documents. 
 
 Lieutenant Wm. Y. Lynch, of the U. S. Navy, in 
 a letter to the Hon. Wm. Cost Johnson, published in 
 a report to Congress, Doc. H. Rep. No. 168, says,— 
 That u one ton of Cumberland Coal, is, in mechanical 
 effect, equal to two tons of Anthracite.” John 
 MTherson Brien, the proprietor of the Antietam iron 
 works, in a letter published in the same document, 
 dated Feb. 1836, speaking of Cumberland coal in the 
 manufacture of iron, says: “We have made a fair 
 experiment of this Coal with the Richmond, and find 
 it to be a much superior article. One bushel of 
 Cumberland Coal is worth two of Richmond, or any 
 other we have used.” 
 
 The importance of the mines in the neighborhood 
 of Westernport, as a source of profit to the Chesa- 
 2 
 
10 
 
 peake and Ohio Canal has always been urged by the 
 engineers and agents of that company. We give a 
 few extracts from the remarks of A. Cruger and 
 Judge Roberts, two of said engineers. See Mr. Mer¬ 
 cer’s report to the House of Representatives of the 
 U. States in 1834, Doc. No. 414, Appendix. 
 
 Extract from A. Cruger 1 s remarks , Sept. 1829. 
 
 “Coal, which constitutes the great source of wealth 
 of this region, may be said to be inexhaustible. The 
 vast and increasing importance of this mineral, as a 
 necessary article of fuel, as w T ell as from its peculiar 
 application to manufactures, renders its use indispen¬ 
 sable, and makes it desirable that every facility 
 should be given to its distribution. 
 
 “By an inspection of the accompanying maps, it 
 will be perceived that Savage river, forcing a passage 
 through Savage mountain, unites itself with the North 
 Branch; after having formed this junction, and receiv¬ 
 ing George’s creek, they collectively force their way 
 through Dan’s mountain. It is where these disrup¬ 
 tions of the mountains have occurred, that coal is 
 observable on their faces. With the mouth of Savage 
 as a centre , and a radius of 5 or 6 miles , a circle 
 could be described , comprising what may be termed the 
 heart of the coal district* The sides of the mountain, 
 in several instances, present a declivity so abrupt, 
 
 *Here, the Union Company and Union Potomac Company own lands, binding 
 on both sides of the Potomac, from 8 to 9 miles. 
 
n 
 
 that coal may, by the intermediate use of a slide, be 
 thrown directly from the bed, into boats lying in the 
 canal or river. 
 
 “From the base, to the summit of these mountains, 
 four distinct and separate veins of coal are observa¬ 
 ble, one of 2 feet 10 inches, one of 6 feet, and one 
 from 10 to 14 feet, increasing in thickness as they 
 ascend; the highest is 950 feet above the mouth of 
 Savage, and 1,272 above Cumberland. This upper 
 vein has been opened in several instances on the 
 different mountains, and discovers itself in numer¬ 
 ous others, where torrents have removed the super¬ 
 stratum of earth; these various indications on the 
 opposite ridges, prove that the vein is on one and 
 the same level. The coal is pure, lustrous and rich; 
 and from the peculiar advantages attending its situation , 
 can be furnished for one-half cent , to one cent per bush¬ 
 el, at the bed. The larger vein is supposed to be the 
 same as that opened near Frostburg, and it is thought 
 by those who are conversant with its formation, to 
 increase in depth as it progresses southwardly. In 
 addition to coal, Iron ore is found in considerable 
 quantities. Timber for ordinary purposes, with valua¬ 
 ble ship timber, abounds throughout this district; 
 white pine for masts and spars, it is said, exists in 
 large quantities. The surrounding country, including 
 the glades, is better adapted to raising sheep, than 
 perhaps any portion of the United States. 
 
 “The section of country subject to these observa- 
 
12 
 
 tions appears to possess in a high degree all the de¬ 
 siderata to render it a manufacturing country. 1st. 
 A sufficient and constant water power: this can be 
 found both on the North Branch and Savage rivers. 
 2d. A healthy and salubrious climate, with subsistence 
 cheap and plentiful: for manufacturing establishments, 
 these circumstances are of primary importance, as 
 they affect in an eminent degree the price of labor. 
 3d. A position where materials abound in the vicinity 
 of the works that will require their consumption: this 
 is also an important consideration, as a difference of 
 two or three cents the bushel in the article of coal, 
 alone, will occasion the difference of several thousand 
 dollars per annum, in extensive manufactories; besides 
 the fact, demonstrated by experience, that it is cheap¬ 
 er to transport the articles manufactured than the 
 materials, in the ratio of 10 to 1.” 
 
 “The advantages of this water conveyance would 
 command not only the freight of the above enumera¬ 
 ted heavy articles, but also the trade of an extensive 
 back country, comprising part of Alleghany county 
 (Md.) and several counties in Virginia.” 
 
 Extracts from Judge Robert's remarks , Sept. 1829. 
 
 “On the advantages of this navigable feeder,* as 
 enumerated by Mr. Cruger, in his report, herewith 
 presented, I would observe, that while its location 
 was going on, I spent some time in viewing the coun- 
 
 * A Canal from the mouth of Savage to Cumberland, 
 
13 
 
 try, accompanied by Mr. Cruger, for several miles 
 around, in the vicinity of Westernport and Savage, 
 and from the information thus obtained, and from a 
 number of gentlemen, respectable for their intelligence 
 and knowledge of that section of country, who 
 accompanied us, I am well convinced of the great 
 importance this Canal would be to that section of 
 Maryland and Virginia, in an agricultural, commer¬ 
 cial, and manufacturing point of view. But the 
 greatest amount of business on the Canal would be 
 derived from the Coal, the Iron, and the Lumber, 
 which so much abounds in that region of country. 
 The termination of this Canal at Savage would be 
 in the centre of a body of coal, which might be 
 brought to it by branch rail-roads, from the head of 
 the Potomac, about thirty miles, and from eight to 
 ten miles up George’s Creek, to Westernport. The 
 coal district, thus accommodated, would be not less 
 than five miles w ide, covering a surface of more than 
 two hundred square miles. Over at least one-fifth 
 of this it is believed the thick vein of coal extends, 
 which measures, where it is opened, at least thirteen 
 feet thick. But the coal mines that could be opened, 
 within five miles of Westernport and Savage, would 
 yield coal to an immense amount, as each square 
 mile of the great vein alone would yield more than 
 two hundred and eighty millions of bushels of coal, 
 or ten millions of tons. 
 
 Iron ore of excellent quality is said to abound in 
 
14 
 
 this coal district; and, with the facilities of a canal 
 transportation, together with the cheapness of bitumi¬ 
 nous coal, charcoal, and subsistence in a very healthy 
 country, would be an inducement to the enterprising 
 of our citizens to extend the manufacture of Iron to a 
 great amount, and thereby improve and give great 
 value to the water power, that might be easily crea¬ 
 ted on Savage river and the Potomac, for all the 
 manufacturing and mechanical purposes of a very 
 extensive population.” * * * * * 
 
 “It is ascertained that the veins of coal are from 
 two to five feet thicker near Westernport and 
 Savage, than they are around Frostburg, and that 
 they become much thicker proceeding up the Poto¬ 
 mac to its sources; so that Westernport and Savage 
 seem to be nearly central in the great coal district of 
 George’s Creek and the Potomac.” 
 
 And in a Report made Oct . 1838, by Maj. Douglass , 
 late Professor of Civil Engineering at West Point , he 
 says: 
 
 “Of the Coal veins ascertained, the lowest is that 
 of Burns’ mine, on the Virginia side of the Potomac 
 near Westernport, three and a-half feet thick.* 
 
 “Next after this, follow two small veins of one and 
 a half and om foot respectively—visible, one at low 
 water, and the other about thirty feet above, near 
 the mouth of Savage. 
 
 * “This was the only vein in this part of the system which it was not in my 
 power to examine personally. It was described to me by the son-in-law of Mrs. 
 Burns, as being four and a-half feet thick, but to guard against error I have set it 
 down at three and a half. 
 
15 
 
 “Sixty feet above this, is Brant’s lower, or Three 
 foot vein, and about forty feet still higher, the upper 
 or Six foot; both visible at Brant’s mines, near the 
 mouth of Savage, and at several positions on the 
 Potomac, and on George’s Creek near Westernport. 
 
 “The next following interval of two hundred feet 
 was only explored to the height of one hundred above 
 the six foot vein, in which distance it shows but one 
 thin vein of six inches. It is followed however by a 
 three foot vein of superior coal, visible on the hill 
 side, ascending the State road, northeastwardly from 
 the mouth of Savage. 
 
 “Another unexplored interval of one hundred and 
 eighty feet, then brings us to a vein (not less than) 
 three feet thick, which crops out on Moore’s run and 
 George’s creek respectively, about a mile above their 
 confluence. Above this, a vein of one foot is seen just 
 above the water of George’s creek, near Shaw’s 
 mill, and a little further, another of two feet nine 
 inches. 
 
 “The next vein, after another unexplored interval 
 of (say) one hundred and fifty feet, is the one foot vein 
 at the bottom of the Lonaconing section; then follow, 
 in the order of that section, two veins of two feet each , 
 with an interlayer of iron ore. Then the eight foot 
 vein so called, measuring about seven. Then the big, 
 or Ten foot vein. Then a one foot vein. Then a 
 four foot vein, slightly subdivided by a stratum of 
 shale. Then, after an interval of one hundred and 
 
16 
 
 fifty-three feet, only partially explored, a vein of Two 
 Feet. Then another, (Four Foot Vein so called,) 
 measuring about three and a half: and finally, a Two 
 Foot Vein. Most of these last named are visible at 
 so many points, and are so well known, that I have 
 not thought it necessary to particularize localities. 
 
 “It appears then on summing up, and as we are 
 now able to judge, that there are at least twenty 
 veins intersected by the waters of George’s Creek, 
 and in like manner by the other waters between 
 their sources and their debouch from the Coal Basin. 
 Of these, ten are of workable dimensions, from two 
 feet nine inches to twelve feet, and three others of infe¬ 
 rior dimensions, also workable from their vicinity to 
 ore beds or other veins of Coal, making an aggregate 
 of about fifty-three feet workable, (sixty-two feet in 
 all,) in a depth of eleven hundred and fifty feet.* 
 
 “The specific gravity of specimens from the interior 
 of the mine average 1.33: that of the English coals 
 being generally about 1.28; it exceeds the latter, there¬ 
 fore, in weight, from three to three and a half pounds 
 to the bushel, and runs about twenty-six heaped 
 bushels to the ton. 
 
 “The proportion of its constituent elements, accord¬ 
 ing to various analyses, and in different specimens, is 
 
 * “It is interesting to remark, by way of comparison, that, the veins of the 
 great Newcastle Colleries, although more extensive in area than those under 
 consideration, are greatly inferior to them in number and thickness. There are 
 for instance, but five workable veins—none of them exceeding six feet in thick¬ 
 ness and averaging only four and a quarter feet. 
 
17 
 
 stated from reports of Professor Silliman and Major 
 Hughes, to the Maryland Mining Company, as fol¬ 
 lows, viz: 
 
 
 Carbon. 
 
 Bitumen. 
 
 Earths 
 
 or 
 
 Water. 
 
 By the recent analysis of Professor Silliman, 
 
 82.00 
 
 13.34 
 
 Oxides. 
 
 3.00 
 
 1.66 
 
 “ Dr. Jones, 
 
 81.00 
 
 15.00 
 
 4.00 
 
 
 “ Do. Do. (another specimen,) 
 
 78.00 
 
 19.00 
 
 3.00 
 
 
 “ Dr. Jackson and Dr. Hays, (nearly alike,) 
 averaged. 
 
 77.45 
 
 16.00 
 
 5.30 
 
 
 “ Dr. Jones on an irridecent specimen. 
 
 72.50 
 
 22.50 
 
 5.00 
 
 
 And finally, by that of Professor Ducatel, on 
 a specimen from Frost’s mine. 
 
 70.00 
 
 20.50 
 
 6.00 
 
 3.50 
 
 “The proportion of combustible matter, indicated 
 by these different analyses, varies from 90 1-2 to 97 
 per cent., averaging 94, and deducting a small frac¬ 
 tion for water, the average residium or ashes, is found 
 to be only four and one half per cent. 
 
 “As an agent for the generation of steam , it is 
 ascertained to be much more efficient than either the 
 Anthracites, on one hand, or the fat Bituminous 
 Coals on the other—which confirms, in this respect, 
 its analogy with the South Welch, Llanelli and 
 Swansea Coals.* 
 
 “According to the statement of Dr. Jackson, of 
 Boston, it produces 32 per cent, more steam than the 
 Newcastle Coal; and by a recent experiment in the 
 Anthracite Locomotive Engines of the Baltimore and 
 Ohio Rail-road, it is shown to be 40 per cent, more 
 
 *These are the only coals which have yet been approved in use, for Working 
 the Great Steam Engine Furnaces of the Cornwall mines—and there is reason 
 to believe that the extraordinary performance of those engines is in no small de¬ 
 gree dependent upon the superior character of this fuel, 
 o 
 
 o Jm . 
 
18 
 
 effective, as a steam agent, than Anthracite. We 
 learn, then, from a comparison of these results, that 
 it must be at least three and a half times more effica¬ 
 cious than dry Pine wood. 
 
 “As a material for the manufacture of Coke, it has 
 also been found superior to most other coals. In this 
 respect it ranks with the Welch coals of Merthyr 
 Tydvil and the neighboring localities, which furnish 
 the fine silvery white Coke, of that country, in the 
 proportion of 75 to 86 per cent., by weight. It swells 
 more than those , however, in the operation of Coking, 
 and yields, consequently, a larger quantity by measure. 
 
 “It has also been used extensively and with great 
 advantage as a fuel for Lime-burning, sometimes even 
 in open heaps as in Wales, without the aid of a kiln; 
 sixteen bushels of broken Limestone being a good 
 proportion for one bushel of slack coal. 
 
 “As a material for the manufacture of Gas, its 
 analogy with the Cannel and Swansea Coals is a 
 sufficient evidence of its superiority, and considering 
 also its Coking propensity, it can, doubtless, be used 
 in this branch of business with more profit than 
 either.* 
 
 “But the great distinguishing feature of this coal 
 and which renders it even superior to most of those 
 with which we have compared it, is its freedom from 
 sulphur 
 
 *The Cannel and Swansea Coals produce the most brilliant of the Coal 
 gases, and in the greatest quantity, but being less profitable than other Coals in 
 the production of Coke, they are of course less used. The coal of the Frost- 
 burg mines would be preferable in this respect. 
 
19 
 
 It has been already stated that the lands of these 
 Companies nearest to Cumberland approach within 
 seven miles of it, and as the coal crops out on the 
 east side of Dan’s Mountain, the coal can be delivered 
 from that point cheaper than from any other part of 
 the coal field. Major Douglass, speaking of the 
 mines near Cumberland, and of the relative cost of 
 transportation from the mines to that place, as a 
 common starting point, says: 
 
 “ It appears, then, in comparing these three modes 
 of conveyance, that the relative expense per ton, es¬ 
 timated in each case to Cumberland, will be as fol¬ 
 lows, viz; 
 
 1st. From Dan’s Mountain, by the plan suggested, 16f 
 2d. From Westernport, by the Canal , 18f 
 
 3d. From the extreme head of either of the con¬ 
 templated Rail Roads, 35cts. 
 
 —the last being more than double the first, and ex¬ 
 ceeding the second by a difference of sixteen and 
 one-fourth cents. 
 
 “ It is not impossible that a part of this difference 
 may be obviated by some modification of the plans of 
 the proposed Railways; and another part will of 
 course be taken off, as to those places which are 
 nearer Cumberland than the extreme head of the Rail¬ 
 ways; but still, compared with any situations within 
 the limits of the Coal Field, the Canal must be con¬ 
 sidered as enjoying decided advantages 
 
 From these premises it follows, that the district, 
 
20 
 
 lying along the ridge and western slope of Dan’s 
 mountain, stands at the head of the first class of 
 positions in point of eligibility. But if we consider 
 the tendency of trade generally to accumulate near a 
 head of navigation; and the peculiar fitness of a large 
 canal for a heavy Coal and Iron business, we shall 
 see that the vicinity of Westernport, notwithstanding 
 the difference of two cents per ton against it, is en¬ 
 titled to stand very nearly upon the same footing as 
 the district mentioned. These two, then, embracing 
 collectively the east side of the Coal valley from Brad- 
 dock’s Run to Westernport, and both sides of the 
 Potomac, (to the distance of a mile,) from the gorge 
 of Dan’s mountain to the mouth of Savage river in¬ 
 clusive, will constitute the First District in order of 
 importance; and it may be assumed with confidence, 
 that any association or individual, who shall acquire 
 possession of this, and proceed judiciously to develop 
 its resources, in the connexion stated, will stand, with 
 a decided advantage, between every other operator 
 and the market. 
 
 “It happens, fortunately, that a large portion of 
 the lands within this precinct, are owned by these 
 Companies, that is to say, the parts thus included are 
 estimated at about Twenty Thousand Acres—con¬ 
 stituting probably seven-eights of the whole territory 
 embraced in this class, and may be estimated to con¬ 
 tain, in good workable condition, not less than Four 
 Hundred Millions of Tons of Coal.” 
 
21 
 
 “ The veins of Iron Ore constitute a part of the Coal 
 measures, and are found in a variety of mineral forms, 
 interlaying the other strata in various parts of the 
 system. Among the upper layers, for example, they 
 form several rich beds of Brown Iron Stone, called 
 (perhaps erroneously) Brown Hematite; one of the 
 veins or beds of which, opened by Mr. Howell on the 
 face of the Savage mountain, is three feet in thick¬ 
 ness, with veins of Coal above and below it—that 
 above separated from the iron only by a stratum of 
 soft Shale. Other rich veins of various descriptions 
 of argillacious ore, resembling the best Welch ores, 
 occur below the Eight-foot Vein, and between the 
 latter and the Big Vein. Others again of the nodular 
 kind, and a reddish colored concretion very rich and 
 heavy, appear in connexion with Brant’s veins near 
 the bottom of the section, and doubtless others exist 
 in various parts of the strata, which have not yet been 
 detected. Of those which have been identified and 
 measured, however, the aggregate thickness is not less 
 than sixteen feet, which, allowing for the difference of 
 specific gravity, would give nearly the same weight 
 of Iron ore, as of Coal, and this we estimate to be 
 about 60,000 tons to the acre. 
 
 It will be seen by reference to the accompanying 
 Map, that the lands bordering on the river have been 
 secured, with a few exceptions, not noted, for obvious 
 reasons. If we take but one half of the above 
 average estimate, or 30,000 tons to the acre, on 
 
22 
 
 20,000 acres of these lands, they will give the 
 round quantity of six hundred millions of tons of 
 Coal , to say nothing of the Iron ore; and if we 
 allow but one cent, per bushel, it gives us three 
 hundred dollars per acre, as the value of the land. 
 But there is another element of value in these lands— 
 it is their location. Boats that leave Baltimore may 
 be passed into the lower mine, and be laden with 
 Coal in the mine. The expense of transportation on 
 a rail road is estimated at three cents , per ton, per mile ; 
 multiply thirty thousand tons by three cents, and it 
 will be found that the expense of transportation will 
 be at the rate of nine hundred dollars per acre, for 
 each mile;—and that mines which are distant 
 five miles from the river, will yield four thousand 
 five hundred dollars less, per acre, than those that 
 bind on the river, as this will be the actual differ¬ 
 ence, in the cost of placing their Coal in boats on the 
 Canal. 
 
 We are aware that the first enquiry which will 
 present itself to the mind is, if these representations 
 be correct; how is it possible that these Lands were 
 so long in the market, and that an interest in them is 
 now offered at a very low price ? As to the accuracy 
 of the representations, the reader is referred to the 
 disinterested , and concurring statements of the En¬ 
 gineers, whose reports are quoted—to the reports of 
 the state geologist—to many respectable persons in 
 Baltimore, who have seen these lands, and can corro- 
 
23 
 
 borate their representations; and in explanation of 
 the low rate at which new parties may become in¬ 
 terested in the stock representing these lands, it is a 
 material fact, to be borne in mind, that the purchases 
 were chiefly made before the large subscription of the 
 State to the Canal, gave assurance that the mineral 
 could be soon and cheaply brought to market—and 
 that it is now proposed to sell, only so much as will en¬ 
 able these companies to pay, what they owe on their 
 lands; and upon conditions that will attract the 
 capital desired, to develop these immense deposits of 
 Coal and Iron. 
 

 
 5 
 
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 4 + 
 
 
 
 
 0 
 
 
CHARTERS 
 
 UNION POTOMAC COMPANY, 
 
 AND THE 
 
 UNION COMPANY, 
 
 WITH A 
 
 DESCRIPTION OF THEIR 
 
 Coal au& Jrou JEituo, 
 
 SITUATE IN 
 
 HAMPSHIRE COUNTY, VIRGINIA, 
 
 AND IN 
 
 ALLEGHANY COUNTY, MARYLAND. 
 
 BALTIMORE: 
 
 PRINTED BY JOHN MURPHY, 
 
 146 MARKET STREET. 
 
 184 0 . 
 

 
 
 
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 , _ , 
 
 
 
 
 
 
 
 
 
 
 
 * 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 - 
 
 
 
 
 
 
 
 
 
 
 
 , ’ • . . - 
 
VIRGINIA CHARTER. 
 
 AN ACT 
 
 TO INCORPORATE THE 
 
 UNION POTOMAC COMPANY. 
 
 Whereas it is represented to the General Assembly 
 of the State of Virginia that Duff Green, and his 
 associates have purchased several tracts of land near 
 the mouth of Savage river, containing valuable mines 
 of coal, iron, and other minerals, and that great ad¬ 
 vantage will arise to the people of this State by 
 working the same, and the construction of a canal or 
 slack-water navigation with a railroad or railroads, 
 connecting their several mines with the Chesapeake 
 and Ohio canal, the Baltimore and Ohio railroad, or 
 such other railroad or railroads as now are, or may 
 hereafter be, authorised by this State : therefore, 
 Section 1 . Be it enacted by the General Assembly , 
 That Duff Green, James Lyons, Beverly R. Well- 
 ford, William M. Green, Richard K. Cralle, 
 Archibald M. Green, and Robert Hord, and all and 
 every person or persons who may become subscribers 
 according to the mode hereinafter prescribed, their 
 successors and assigns shall be, and they are hereby 
 incorporated by the name of the Union Potomac 
 
4 
 
 VIRGINIA CHARTER. 
 
 Company, for the purposes and with the privileges 
 and immunities hereinafter described, defined and 
 granted, and by that name shall be a body politic 
 and corporate, in fact, and in law, and may sue and 
 be sued, plead and be impleaded, in all courts of 
 justice and elsewhere. And the said company shall 
 have power and authority, at any time after the pass¬ 
 age of this act, to purchase, receive in donation, pos¬ 
 sess and enjoy, retain, demise, grant, lease, alien and 
 sell under the restrictions and limitations hereinafter 
 mentioned, lands, heriditaments and water privileges, 
 rights, goods, chatties, and effects, necessary or use¬ 
 ful for the construction, erection, and carrying on of 
 a canal or slack-water navigation, and a railroad or 
 railroads connecting their mines and manufactories 
 with the Chesapeake and Ohio canal, the Baltimore 
 and Ohio railroad, or any other railroad or railroads 
 which now are, or may hereafter be, authorised by 
 this state, and for the construction, erection, and 
 carrying on of mills and manufactories of iron and 
 other articles, and for the opening and working of 
 their said mines, and for the transportation of the pro¬ 
 ducts thereof to market, and for the successful prose¬ 
 cution of the powers and privileges herein granted: 
 provided, the said company shall at no time possess 
 in this State more than twenty thousand acres of 
 land.* And the said company shall have perpetual 
 
 * Extended by a Supplemental Act to 40,000 acres. 
 
VIRGINIA CHARTER. 
 
 5 
 
 succession, and power to make and use a common 
 seal, the same to change and renew at pleasure, and 
 to adopt and carry into execution such laws, or¬ 
 dinances and regulations as shall by its directors be 
 adjudged necessary and convenient for the govern¬ 
 ment and management of the said company, and the 
 same to change, alter, repeal, annul, and re-enact; 
 provided the same be not contrary to the constitution 
 and laws of the United States or of this State. 
 
 Sect. 2. And be it further enacted , That the capital 
 stock of the said company shall consist of ten thousand 
 shares of one hundred dollars each, of which the lands 
 and mines of the said Duff Green, and his associates, 
 shall continue a part, at a price to be agreed upon by 
 the commissioners authorised to receive subscriptions 
 to the capital stock of the said company, and the 
 directors of the said company shall have power to in¬ 
 crease their capital to such an amount as may be 
 found, from time to time, convenient and necessary 
 for the accomplishment of the objects of their in¬ 
 corporation; provided the same does not exceed 
 twenty thousand shares. # 
 
 Sec. 3. And be it further enacted , That the subscrip¬ 
 tion to the said capital stock of the company, shall be 
 opened under the direction of Duff Green, James 
 Lyons, Beverly R. Wellford, William M. Green, 
 Richard K. Cralle, Archibald M. Green, and Robert 
 
 *May be increased to 70,000 shares. See Supplement. 
 
6 
 
 VIRGINIA CHARTER, 
 
 Hord, or a majority of them at such time and place as 
 they shall designate, giving at least ten days notice in 
 one or more of the newspapers printed in the cities of 
 Washington, Baltimore and Richmond, and that each 
 subscriber shall thereupon pay to the said commis¬ 
 sioners ten dollars on each share. 
 
 Sec. 4. And be it further enacted , That the man¬ 
 agement of the business and concerns of the said 
 company shall be vested in nine directors, five of 
 whom shall be a quorum to do business. 
 
 Sec. 5. And be it further enacted , That in all 
 elections and on all questions concerning the manage¬ 
 ment and business of said company, each share shall 
 be entitled to one vote, and that the directors shall, 
 at their first meeting or as soon thereafter as may be, 
 appoint one of their number to be President, and 
 shall also, in the same manner, appoint a Treasurer 
 and such other officers and agents as they may see 
 proper, for conducting the affairs of the company, 
 who shall severally hold their offices during the plea¬ 
 sure of said directors, who may demand and require 
 of the said officers, or any of them, security for the 
 faithful discharge of their respective duties in such 
 manner and form as they may think proper. 
 
 Sec. 6. And be it further enacted , That the first 
 board of directors shall be chosen under the superin¬ 
 tendence of the commissioners before named, or a 
 majority of them, at such time and place as they may 
 designate, to continue in office for one year, and that 
 
VIRGINIA CHARTER. 
 
 7 
 
 the subsequent elections for directors shall be holden 
 annually thereafter at a meeting of the stockholders 
 at such time and place as the directors for the time 
 being may designate, they giving at least twenty 
 days notice in at least one newspaper printed in the 
 cities of Richmond and Baltimore; and if an election 
 of directors should not be made on the day when, in 
 pursuance of this act, it ought to be made, the corpo¬ 
 ration shall not for that cause be considered as dis¬ 
 solved, but it shall and may be lawful to hold such 
 election at any other time, giving public notice there¬ 
 of in manner aforesaid; and until such election be 
 made, the directors for the time being shall continue 
 in office; and in case of vacancy in the office of direc¬ 
 tor, by death, resignation, removal or otherwise, the 
 other directors may supply such vacancy or vacancies, 
 from time to time, for the unexpired term of the di¬ 
 rector or directors whose place is so supplied. 
 
 Sec. 7. And be it farther enacted , That it may be 
 lawful for the said company to erect a canal or slack- 
 water navigation from the Chesapeake and Ohio 
 Canal, in and along and near the bank of the Poto¬ 
 mac, to such point or points thereon as they may 
 deem it expedient to terminate the same; and also to 
 construct such railway or railways from the said 
 mines or manufactories to the said canal or slack- 
 water navigation, or to the Baltimore and Ohio rail¬ 
 road, or to any other railroad authorized by this 
 State, as they may deem necessary for the successful 
 
8 
 
 VIRGINIA CHARTER. 
 
 working and carrying on of their said mines and 
 manufactories. 
 
 Sec. 8. And be it further enacted , That it shall be 
 lawful for the said company, from time to time, to 
 construct, make, erect, and form, such embankments, 
 reservoirs, aqueducts, locks, wiers, gates, ways, 
 bridges, and other works, as the said directors may 
 deem convenient and necessary for the uses and pur¬ 
 poses aforesaid, and to repair and improve the same 
 for the better carrying on and management thereof. 
 And it shall and may be lawful for said company, 
 by the president, directors, officers, agents, engineers, 
 superintendents, or contractors, or any other person 
 or persons by them employed, from time to time, and 
 at all times hereafter, to enter upon all lands, wheth¬ 
 er covered with water or not, for the purposes con¬ 
 templated by this act, doing no unnecessary damage; 
 and when a location of the said canal, or slack- 
 water navigation, and the said railroad or railroads 
 or other improvements, shall be determined by the 
 directors, or a majority of them, from time to time, 
 and a survey thereof, showing the lands necessary 
 for the same, shall have been made by an engineer or 
 other person employed by said company, and deposit¬ 
 ed in the office of the county court of the county in 
 which the land lies, then it shall be lawful for the 
 said company, their agents, engineers, contractors, 
 superintendents, or other person or persons employed 
 by them, to enter upon, take possession of, and use 
 
VIRGINIA CHARTER. 
 
 9 
 
 all and singular such lands and premises, subject to 
 such compensation to he made therefor as is herein¬ 
 after directed. 
 
 Sec. 9. And be it further enacted. That when the 
 directors, aided by a competent engineer, shall have 
 determined on the location of said canal, slack-water 
 navigation, railroad or railroads, or other improve¬ 
 ments, they, or a majority of them, shall make and 
 sign a description of the same, and cause it to he 
 filed in the office of the county court of the county 
 in which the land lies, which being done, and not 
 before, the said company may take possession of 
 such lands as they may not have acquired by pur¬ 
 chase, and which may be necessary for the construc¬ 
 tion of said canal, slack-water navigation, railroad, 
 railroads, or other improvements as aforesaid, together 
 with all other lands and premises as may be convenient 
 and necessary for the uses and purposes aforesaid, 
 subject to the restrictions and conditions hereinafter 
 provided. 
 
 Sec. 10. And be it further enacted , That where any 
 lands that may be useful for the said improvements 
 shall not be made a free gift by their owner or 
 owmers to said company, then said company shall 
 pay to the owner or owners of such lands such com¬ 
 pensation as shall be mutually agreed upon between 
 them; and in case the said company cannot agree 
 with such owner or owners in relation thereto, or if 
 such owner or owners be feme covert, under age, non 
 2 
 
10 
 
 VIRGINIA CHARTER. 
 
 compos mentis, or reside out of the State, then it 
 shall and may be lawful for the said company, and 
 they are hereby required without delay, from time to 
 time, and at all times, to cause a survey or surveys 
 and a map or maps to be made of any of the land 
 requisite and useful for the purposes aforesaid, or 
 appropriated or intended to be appropriated as afore¬ 
 said, and the quantity thereof, and the same survey 
 or map to exhibit to the judge of the circuit superior 
 court for the county in which the same is situated, 
 giving at least ten days notice in writing to the par¬ 
 ties of the time and place of such exhibition, by serv¬ 
 ing the same on such owner or owners, and every 
 of them, if resident in the State at the time, and, if 
 not, by advertising the same in one or more news¬ 
 papers published in the city of Richmond or Wash¬ 
 ington for at least sixty days:—And thereupon it 
 shall be the duty of the said judge to certify such 
 survey or map under his hand, and cause the same to 
 be filed and recorded in the office of the court of the 
 county in which the land lies, there to remain as a 
 public record, and also at the same time and place, 
 by writing under his hand, to appoint five discreet 
 and disinterested freeholders of the State of Virginia 
 as appraisers, who shall, before they enter upon the 
 duties of their appointment, severally take and sub¬ 
 scribe an oath or affirmation, before some person 
 authorized to administer oaths, faithfully and impar¬ 
 tially to perform the duties required of them by this 
 
VIRGINIA CHARTER. 
 
 11 
 
 act; and it shall be the duty of the said appraisers, or 
 a majority of them, if requested so to do by the 
 owner or owners, or by the company, to make a just 
 and equitable estimate and appraisement of the 
 lands and also of the damages, if any there be, that 
 each owner may sustain, for the uses and purposes 
 aforesaid, the said appraisers giving ten days notice, 
 in manner aforesaid, of the time and place of meet¬ 
 ing to make such appraisement, and shall certify the 
 same under their hands and seals, acknowledging the 
 same before some person authorized to take the 
 acknowledgment of deeds, and shall cause the same 
 to be filed and recorded in the office of the county 
 court in which the land lies, there to remain as a 
 public record. And the said company shall, before 
 they enter upon, take possession of, or use the said 
 lands and premises, except for the survey and loca¬ 
 tion above mentioned, pay or tender the damages so 
 assessed, to the person or persons respectively enti¬ 
 tled to the same, or in case such owner or owners 
 shall be feme covert, under age, non compos mentis, 
 or reside out of the State, the said company shall 
 pay the same into the circuit superior court in whose 
 jurisdiction the land lies, to be disposed of under the 
 order of the said court, according to the respective 
 rights and interests of the proprietors, agreeably to 
 law; and immediately thereupon, the rights, property, 
 and interests of the person or persons so compensated 
 and paid, in and to the premises so appropriated, 
 
12 
 
 VIRGINIA CHARTER. 
 
 described, and paid for, shall be vested in the said 
 company:—And if default be made in such payment, 
 the owner or owners may sue and recover of said 
 company the amount of such assessment, or bring an 
 action of ejectment for the lands, at his or their 
 option. Provided, that for good cause shown by 
 either of the parties within ninety days from the filing 
 of said assessment, the said judge in court at the 
 next term shall order a re-assessment to be made, in 
 manner aforesaid, which shall he returned to and 
 acted upon by him as the original assessment might 
 be, and provided also that either party feeling them¬ 
 selves aggrieved by the judgment of the said court 
 upon the said assessment, may appeal therefrom to 
 the court of appeals in the manner prescribed by 
 law in other cases of appeal. 
 
 Sec. 11. And be it further enacted , That the capital 
 stock of the said company shall be deemed personal 
 property, and that all shares of stock at any time 
 owned by any stockholder, shall be transferable on 
 the books of the company in such manner as the 
 laws shall ordain, but all debts due or payable to the 
 company, and all outstanding engagements with it, 
 shall be satisfied previously out of said stock, before 
 such transfer can be made, and before any dividend 
 or dividends shall be paid upon such share, unless by 
 consent of the directors. And when the company 
 shall be formed, the stock subscribed shall be paid in 
 such instalments and at such times as the president 
 
VIRGINIA CHARTER. 
 
 13 
 
 and directors shall from time to time require; and in 
 default of payment, the directors may offer at public 
 sale so many of the shares in default as may be suffi¬ 
 cient to discharge the sum then due and unpaid on 
 the shares thus in default, and the purchaser of the 
 shares thus sold shall become a stockholder, and be 
 subject to the same rules and regulations, and entitled 
 to the same privileges, rights, and emoluments, as 
 original subscribers under this act; provided, no pay¬ 
 ment shall be demanded until at least sixty days 
 notice thereof shall have been given in some news¬ 
 paper printed in the city of Washington, nor shall any 
 share be sold by the president and directors as herein 
 authorized without twenty days like notice thereof. 
 
 Sec. 12. And be it further enacted , That every 
 director, treasurer, and all such other officers as the 
 directors may require so to do, shall, before he or they 
 act as such, take an oath or affirmation for the due 
 and faithful execution of his or their office. 
 
 Sec. 13. And be it further enacted , That nothing in 
 this act shall be construed to impair the rights of any 
 person or persons to an action against said company, 
 their agents, w T orkmen, or servants, for any damage 
 done to his, her, or their lands, heriditaments, and 
 premises, by the construction of said improvements, 
 wdien such person or persons have not been agreed 
 with by said company, or their damages paid or satis¬ 
 fied by the said company, under the provisions of this 
 act. 
 
14 
 
 VIRGINIA CHARTER. 
 
 Sec. 14. And be it further enacted , That if the said 
 canal or slack-water navigation be not commenced in 
 two years, and the same shall not be completed to 
 Cumberland within seven years from the passing of 
 this act, the authority to construct the same shall 
 cease. 
 
 Sec. 15. And be it further enacted , That this act 
 shall be a public act, and the said canal and other 
 improvements therein comtemplated shall be deemed 
 public works, and all persons, and any person or per¬ 
 sons who shall in any wise damage or injure the same, 
 shall be liable to be proceeded against and punished 
 in like manner as if the injury or damage had been 
 done to any other public work; and that it shall be 
 the duty of the president and directors of the board 
 of public works, from time to time, to prepare and fix 
 a tariff of tolls and rates of transportation, which it 
 shall and may be lawful for the said company to ask 
 and receive of all persons before they shall be entitled 
 to use the said canal, slack-water navigation, or rail¬ 
 road or railroads, respectively; and to this end, while 
 the said works are in progress, and annually after the 
 same shall have been completed, the president and 
 directors of the said company shall report to the pre¬ 
 sident and directors of the board of public works 
 a statement showing the amount of the capital stock 
 expended in the construction of the said canal or 
 slack-water navigation, and of the said railroad or 
 railroads, the amount of the tolls received during 
 
VIRGINIA CHARTER. 
 
 15 
 
 each preceding year, the expenses and charges in¬ 
 curred during the same period, and the net annual 
 profit or loss on the capital so expended, and if, from 
 this statement and such other evidence as shall be 
 offered, the president and directors of the board of 
 public works shall be satisfied that the net average 
 profits for the next succeeding year will not equal 
 six per centum per annum, then the said president 
 and directors of the board of public works shall so 
 augment the tolls or rates of transportation, as the 
 case may be, as to make them sufficient in their esti¬ 
 mation to yield such annual profit of six per cent, per 
 annum; and if the said board of public works shall 
 be satisfied upon the evidence aforesaid that the net 
 annual profits will exceed the rate of fifteen per 
 centum on the capital stock expended, then they shall 
 so diminish the tolls or rates of transportation hereby 
 allowed, as to make them only sufficient in their esti¬ 
 mation to yield an annual net profit of fifteen per 
 centum, and in computing the profits similar toll shall 
 be charged on the freight boats or vessels of the 
 company as is charged on the freight boats or vessels 
 of others. 
 
 Sec. 16. And be it farther enacted , That if the 
 State of Virginia shall, in the prosecution of any 
 general scheme of improvement within the term of 
 ten years from the passage of this act, require the 
 use of the said canal or slack-water navigation, or if 
 the Chesapeake and Ohio canal company, for the 
 
16 
 
 VIRGINIA CHARTER. 
 
 purpose of continuing that work to the Ohio, shall 
 within the term of five years, require the said canal 
 or slack-water navigation as a part thereof, then and 
 in that case it may be lawful for the State of Virginia 
 or the said Chesapeake and Ohio canal company, 
 as the case may be, upon the payment to the said 
 company of the sum expended in the construction 
 thereof, with proper allowance for interest, deducting 
 the profits which may have arisen from tolls, to take 
 possession of the said canal or slack-water navigation ; 
 and the right and property therein, upon the pay¬ 
 ment to the company of the cost thereof as aforesaid, 
 shall he vested in the State of Virginia, or the said 
 Chesapeake and Ohio canal company, becoming 
 posssessed thereof as aforesaid. 
 
 Sec. 17. And be it further enacted , That the said 
 company may and are hereby empowered to unite 
 with any company or companies chartered by the 
 State of Maryland for similar purposes. 
 
 Sec. 18. And be it further enacted , That nothing 
 herein contained shall be so construed as to prohibit 
 the Legislature of this State from authorizing the 
 construction of roads or other improvements through 
 the lands of the said company, in the same manner, 
 and to the same extent, as if they were the property 
 of individuals. 
 
 Sec. 19. And be it further enacted , That nothing 
 herein contained shall be so construed as to lessen, im¬ 
 pair, or in any way effect any rights or privileges pos- 
 
VIRGINIA CHARTER. 
 
 17 
 
 sessed by or vested in the Chesapeake and Ohio canal 
 company, or any other company incorporated by this 
 State, and that the Legislature reserves the power 
 to authorise any other company hereafter to he in¬ 
 corporated to connect w T ith the improvements herein 
 provided for; and that any company hereafter to he 
 incorporated, or individual, shall have liberty to tran¬ 
 sport on the canal in his or their boats, or on the said 
 railroad or railroads in the cars and carriages of the 
 company, any passengers, goods, wares, or merchan¬ 
 dise, on the payment of such tolls as are herein pre¬ 
 scribed to be established by this act: And, moreover, 
 the said company shall keep in repair a sufficient 
 number of cars or carriages for the speedy convey¬ 
 ance of all passengers and transportation of all goods, 
 wares, and merchandise of any person or persons or 
 body corporate whatever; and the goods, wares, and 
 merchandise of the company shall not be transported 
 on the aforesaid canal or slack-water navigation or 
 railroads to the exclusion of the goods, wares, and 
 merchandise of other persons, nor shall the privilege 
 herein granted the company to unite with other 
 railroads, canals, or slack-water navigation he con¬ 
 strued to give any further privilege than the trans¬ 
 portation of the goods, wares, and merchandise of 
 said company from their own works to market. 
 
 Sec. 20. And be it further enacted , That this act 
 shall take effect and be in force from and after the 
 passage thereof, and that so much thereof as relates 
 3 
 
18 
 
 VIRGINIA CHARTER. 
 
 to the construction and working of mills, manufac¬ 
 tories, and coal and iron mines, shall continue in force 
 for the term of fifty years; provided, nevertheless, 
 the Legislature may, at any time after thirty years, 
 alter, modify, or repeal, so much of the same as 
 empowers the said company to erect and carry on 
 mills and manufactories and to work their coal mines. 
 
 State of Virginia, City of Richmond , to wit: 
 
 I, George W. Munford, Clerk of the House of Delegates and 
 Keeper of the Rolls of Virginia, do hereby certify and make 
 known that the foregoing is a true copy of an act of the Legis¬ 
 lature of Virginia, passed February 2d, 1836. 
 
 Given under my hand this fourth day of February, 1836. 
 
 GEORGE W. MUNFORD, 
 
 Clk. Ho. Del. and Keeper of the Rolls of Virginia. 
 
SUPPLEMENT. 
 
 AN ACT, 
 
 SUPPLEMENTARY TO AN ACT, 
 
 E NT1TLE D 
 
 “AN ACT 
 
 TO INCORPORATE THE 
 
 UNION POTOMAC COMPANY.” 
 
 PASSED MARCH 11, 1839. 
 
 Be it enacted by the General Assembly , That the 
 commissioners heretofore appointed to superintend 
 the organization of the Union Potomac Company, 
 or a majority of them, may at such time and place 
 as they shall designate, proceed to organize the 
 same, and that the said company he and they are 
 hereby allowed two years, in addition to the time 
 allowed by the act incorporating the same, for the 
 commencement and completion of their canal or 
 slack-water navigation. 
 
 And be it further enacted , That the said company, 
 in addition to the land heretofore authorised to be 
 purchased, may purchase, use, transfer and sell, or 
 otherwise dispose of estate, real, personal and mixed, 
 provided they shall at no time hold, in addition to 
 
20 SUPPLEMENT TO VIRGINIA CHARTER. 
 
 the lands heretofore authorised to be held by them, 
 more than twenty thousand acres, lying and being in 
 the counties of Hardy and Hampshire. 
 
 And be it further enacted , That the president and 
 directors of said company may from time to time 
 and at such times as they shall deem it expedient, 
 increase the cash subscription to the capital stock of 
 said company, provided the same shall not exceed 
 thirty thousand shares over and above the stock, 
 representing the lands of said company. And the 
 said president and directors may receive such evi¬ 
 dence of the ownership of their stock, and of the 
 bonds and obligations given for money borrowed, or 
 for lands or property purchased, as is received on 
 account of the funded debt of the United States. 
 
 This act shall be in force from the passing thereof. 
 
MARYLAND CHARTER. 
 
 AN ACT 
 
 TO INCORPORATE THE 
 
 UNION COMPANY. 
 
 Whereas it is represented to this General Assembly 
 that Duff Green and others, his associates, have 
 purchased several tracts of land at or near the mouth 
 of Savage river, in Alleghany county, containing 
 extensive and valuable mines of coal, iron, and other 
 minerals; and that the interest of this State will be 
 promoted, and the trade of the Chesapeake and Ohio 
 canal and Baltimore and Ohio railroad, in which the 
 State has so large a pecuniary interest, will be great¬ 
 ly increased by the working of said mines, and by the 
 construction of a canal, or of a slack-water naviga¬ 
 tion by lock and dam, with appropriate railways con¬ 
 necting said mines and the extensive and valuable 
 mineral region in which they are situate with the 
 Chesapeake and Ohio canal and the Baltimore and 
 Ohio railroad: Therefore, 
 
 Section 1. Be it enacted by the General Assembly 
 of Maryland , That Duff Green, James Lyons, 
 Beverly R. Welford, William M. Green, Richard 
 
22 
 
 MARYLAND CHARTER. 
 
 K. Cralle, Archibald M. Green and Robert Hord, 
 and all and every person or persons who may become 
 subscribers in the manner hereinafter prescribed, 
 shall be and they are hereby incorporated by the 
 name of “The Union Company,” for the purposes of 
 making, constructing, keeping in repair, and carrying 
 on a canal or slack-water navigation by lock and 
 dam, from the basin of the Chesapeake and Ohio 
 canal, at or near Cumberland, in, along, or near the 
 Potomac river, to the mouth of the Savage river, in 
 Alleghany county, and thence, up said river and the 
 Potomac river and George’s creek, to such point or 
 points on said rivers and George’s creek as they may 
 deem it expedient to terminate the same at, and of 
 connecting the same or the Baltimore and Ohio rail¬ 
 road with their mines and manufactories by such 
 railway or railways as they may deem necessary for 
 that purpose; and also for erecting, constructing and 
 carrying on mills and manufactories of iron and other 
 articles, of which iron is a component part, and for 
 opening, working and transporting to market the pro¬ 
 duce of their mines, lands, mills and manufactories; 
 and for the purchase, transportation, and sale of 
 goods, chattels and effects; and that for said purposes 
 they shall be a body politic and corporate by the 
 name aforesaid, and as such shall have power to 
 obtain by purchase or gift, to hold and lease or sell 
 all such property as they may require for the purpose 
 aforesaid: Provided that the same company shall at 
 
MARYLAND CHARTER. 
 
 23 
 
 no time hold or possess in this State, for its said 
 mines and manufactories, more than thirty thousand 
 acres of land; and shall not purchase more than ten 
 thousand acres of said land subsequent to the organi¬ 
 zation of said company, and that by said name the 
 said company shall have succession, and may sue and 
 be sued, and may have a common seal, which they 
 may alter at pleasure, and may have and exercise for 
 the purposes aforesaid, under the restrictions herein 
 mentioned, the powers usually incident to corpo¬ 
 rations. 
 
 Sec. 2. And be it enacted , That the capital stock 
 of said company shall consist of ten thousand shares 
 of one hundred dollars each, of which the lands and 
 mines of the said Duff Green and his associates may 
 constitute a part, at a price to be made known by the 
 commissioners authorized to receive subscriptions to 
 the capital stock of said company, at or before the 
 times of subscription; and which price or value shall 
 be estimated and fixed by disinterested persons, 
 one of whom shall be appointed by the Governor 
 and Council, one by the above named proprietors, 
 and the third by these two; and who, or a majority of 
 them, shall estimate and fix, on oath, the value of said 
 lands and mines, and make return thereof in writing 
 to the said commissioners before they shall receive 
 any subscriptions to the said capital stock; and the 
 president and directors of said company shall have 
 power from time to time to increase the capital stock 
 
24 
 
 MARYLAND CHARTER. 
 
 to such an amount as may be found necessary for the 
 accomplishment of the objects of this incorporation, 
 provided that the same does not exceed thirty thou¬ 
 sand shares.* 
 
 Sec. 3. And be it enacted , That the subscriptions 
 to the capital stock of said company shall be received 
 under the direction of Duff Green, James Lyons, 
 Beverly R. Welford, William M. Green, Richard 
 K. Cralle, Archibald M. Green, and Robert Hord, 
 or a majority of them, who shall act as commission¬ 
 ers at such times and places as they shall designate, 
 they giving at least ten days previous notice in one or 
 more newspapers printed in the cities of Baltimore 
 and Washington, and elsewhere if they deem it 
 necessary; and each subscriber shall pay at the time 
 of subscription, to the commissioners receiving the 
 same, the sum of ten dollars on each share by him 
 or them subscribed. 
 
 Sec. 4. And be it enacted , That the management 
 of the business and concerns of said company shall 
 be vested in nine directors, who shall be stockholders 
 and citizens of the United States, any five of whom 
 shall be a quorum for the transaction of its business; 
 that the first board of said directors shall be elected 
 by the subscribers under the superintendence of the 
 commissioners aforesaid, at such time and place as 
 they may designate, they giving at least twenty days 
 
 *May be increased to fifty thousand shares, to create a trust fund of two mil¬ 
 lions of dollars. See 6th section of Supplement. 
 
MARYLAND CHARTER. 
 
 25 
 
 previous notice thereof in at least one newspaper 
 printed in each of the cities of Baltimore and Wash¬ 
 ington; that the subsequent elections of directors shall 
 be made annually thereafter, and after a like previ¬ 
 ous notice at a general meeting of the stockholders 
 to be convened for that purpose at such time and 
 place as may be fixed by the by-laws of said compa¬ 
 ny; that if any election of directors should not be 
 made on the day when it ought to be made such 
 election may be made after like notice at any time 
 within six months thereafter, and the president and 
 directors for the time being shall hold and exercise 
 their respective offices until a new election is made; 
 and that in all elections, and on all questions touch¬ 
 ing the business or concerns of said company, each 
 share shall be entitled to one vote. 
 
 Sec. 5. And be it enacted , That every board of 
 directors of said company shall, at their first meet¬ 
 ing after their election, or as soon thereafter as is 
 practicable, appoint one of their own body to be Pre¬ 
 sident of said company, and shall in the same manner 
 appoint a Treasurer, and such other officers and 
 agents as they may deem necessary for managing the 
 affairs of said company, who shall hold their offices 
 at the pleasure of the president and directors, and 
 shall give such security as may be prescribed by the 
 by-laws of said company; and that every director of 
 the company, its treasurer, and such other officers as 
 may be required to take the same, by the by-laws of 
 4 
 
26 
 
 MARYLAND CHARTER. 
 
 said company, shall take an oath or affirmation, as the 
 case may be, that they will honestly and faithfully 
 perform the duties of their respective offices. 
 
 Sec. 6. And be it enacted , That the president and 
 directors of said company shall be, and they are here¬ 
 by, invested with all the rights and powers necessary 
 for the construction, repair and carrying on of a 
 canal not exceeding in dimensions the Chesapeake 
 and Ohio canal, at Cumberland, or of a slack-water 
 navigation in the river Potomac, by lock and dam, 
 beginning the said canal or lock and dam navigation, 
 in connection with the Chesapeake and Ohio canal, 
 at or near Cumberland, and continuing the same in, 
 along, or near to the Potomac river to the mouth of 
 the Savage river in Alleghany county, and thence in, 
 along, or near to the said river, George’s creek and 
 the Potomac river, to such point or points thereon as 
 they may deem it expedient to terminate the same at, 
 and also to construct such railway or railways, to con¬ 
 nect their mines and manufactories with said canal or 
 slack-water navigation, or the Baltimore and Ohio 
 railroad, as they may deem it necessary or expedient 
 for the successful working of said mines, and of the 
 mills and manufactories aforesaid; and that, for that 
 purpose, the said president and directors shall have 
 power to make, construct, establish, and keep in 
 repair, all and any such work or works as they may 
 find necessary or useful for constructing, keeping in 
 repair, or carrying on said canal or lock and dam 
 
MARYLAND CHARTER. 
 
 27 
 
 navigation and railways, with their proper appurte¬ 
 nances, and may also employ all such agents, and 
 make all such contracts and purchases, and take and 
 hold all such gifts and grants of property, or of any 
 interest in the same, as may be found necessary for 
 the purposes aforesaid. 
 
 Sec. 7. And be it enacted , That the president 
 and directors of said company may agree with the 
 owner or owners of any land, or of any interest in 
 the same, or of any earth, timber, gravel, or stone, 
 which may be wanted for the construction or repair 
 of said canal or lock and dam navigation and railways, 
 or their appurtenances; and if they cannot agree, or 
 if such owner or owners be a feme covert, unknown, 
 non compos mentis, under age, or out of the state or 
 county, then on application by said president and 
 directors or their agents to any justice of the peace 
 of the county in which said lands, timber, stone, earth, 
 and gravel lie, the said justice shall issue his war¬ 
 rant under his hand and seal, to the sheriff of the 
 county to summon a jury of eighteen inhabitants of 
 said county, not related to the parties, nor interested 
 in the property to be valued, to meet on or near to 
 the property to be valued, at a day named in the 
 warrant, not less than ten nor more than tw T enty days 
 after the issuing of the same ; and the sheriff shall on 
 its receipt summon said jury accordingly, and when 
 the jury meets, if twelve or more attend, shall qualify 
 all attending as jurors by administering to them be- 
 
28 
 
 MARYLAND CHARTER. 
 
 fore they act as such, an oath or affirmation, as the 
 case may be that they will justly and impartially 
 value the damages which such owner or owners will 
 sustain by the taking of the property required by the 
 company; and if at least twelve do not attend, the 
 sheriff shall immediately summon as many more as 
 may be necessary to make up that number, and shall 
 then qualify the jury in the same manner; and the 
 said jury are hereby instructed, in estimating said 
 damages, to consider the benefit which will accrue, 
 or has accrued, to such owner or owners from the 
 construction of said canal, or lock and dam navigation, 
 or railway for which it is wanted, and to make the 
 proper allowance for such benefit in their verdict; 
 and the inquisition thereupon taken shall be signed 
 by the sheriff and at least twelve of the jury, and re¬ 
 turned by said sheriff to the office of the clerk of the 
 county court, and unless good cause be shown against 
 it, it shall be affirmed by said county court, at the term 
 after it is returned, and shall then be recorded by said 
 clerk amongst the land records of said county ; but if 
 any such inquisition be set aside, the said court may 
 at its discretion, as often as it may be necessary, 
 direct another to be taken and returned, which shall 
 be confirmed as aforesaid; and every such inquisition, 
 as to land, shall ascertain the bounds of the land so 
 valued, and the valuation, when confirmed by the 
 court, shall be conclusive against the parties, and 
 shall be paid by the said president and directors to 
 
MARYLAND CHARTER. 
 
 29 
 
 such owner or owners, or his, her, or their legal re¬ 
 presentatives, and when paid or tendered shall entitle 
 the said company to all the estate or interest of such 
 owner or owners in the property so valued; and if the 
 valuation be refused when tendered, or the party to 
 whom it is due be unknown, it may afterwards be 
 recovered of said company without interest or costs. 
 
 Sec. 8. And be it enacted , That as soon as the 
 valuation of the property wanted shall have been 
 made by a jury, in the manner prescribed in the pre¬ 
 ceding section, the said president and directors, or 
 their agents, may immediately enter upon, take, and 
 use the property so valued ; and the valuation, when 
 confirmed, shall be a bar to all actions by the person 
 or persons against whom such valuation is made for 
 so entering upon or using the said property after such 
 valuation is made. 
 
 Sec. 9. And be it enacted , That the capital stock of 
 said company shall be deemed personal property, and 
 that the shares of said stock may be transferred on 
 the books of said company in such manner as its by¬ 
 laws may direct, but all debts due the said company 
 by the stockholders wanting to make the transfer, 
 and all outstanding engagements on which he is 
 then liable, to said company, shall be paid or satisfied 
 out of said stock or otherwise, before any transfer of 
 any of said stock can be made, and before any divi¬ 
 dends can be paid upon the same, except by the spe¬ 
 cial permission of the president and directors of said 
 
30 
 
 MARYLAND CHARTER. 
 
 company; and when the said company shall he organ¬ 
 ized, the amount due upon the subscriptions to its 
 capital stock shall be paid in instalments, at such 
 times as the president and directors may require 
 the same to be paid, they giving at least sixty days 
 notice of the demand of any instalment, in at least one 
 newspaper printed in each of the cities of Baltimore 
 and Washington; and in default of payment of any in¬ 
 stalment, the president and directors may offer at 
 public sale so many of the shares, in default, as may 
 be sufficient to discharge the sum then due on the 
 same, and the purchaser thereof shall hold the same, 
 subject to the same regulations, and with the same 
 rights, as if they had been originally subscribed by 
 him. 
 
 Sec. 10. And be it enacted , That if the said canal or 
 lock and dam navigation, be not completed from 
 Cumberland to the mouth of George’s creek within two 
 years after the completion of the Chesapeake and 
 Ohio canal to Cumberland, then the authority to con¬ 
 struct the same shall wholly cease and be void. 
 
 Sec. 11. And be it enacted , That the said canal, lock 
 and dam navigation, or any part thereof, as soon as it 
 is completed, shall be and remain for ever navigable as 
 a public highway for the transportation of persons or 
 property of every description, upon the payment to 
 the said company, or their agents, of tolls, in con¬ 
 formity with a tariff that shall, from time to time, 
 be established by the president and directors of said 
 
MARYLAND CHARTER. 
 
 31 
 
 company, with the approbation of the persons who 
 may represent this State in joint companies, in¬ 
 corporated to make roads and canals: Provided 
 always, that the said tariff shall be so framed as to 
 yield a net profit to said company, which shall not 
 be less than six per cent, upon the capital expended 
 upon the said canal and lock and dam navigation, and 
 the necessary appurtenances, nor shall the said tariff 
 exceed the rates now chargeable by law upon the 
 Chesapeake and Ohio canal, whenever the trade 
 thereon shall be sufficient at that rate to yield a net 
 profit of six per cent, as aforesaid; and that it shall 
 be the duty of the president and directors of said 
 company, whilst the said canal or lock and dam navi¬ 
 gation is in progress; and annually thereafter, to re¬ 
 port to the Legislature a statement showing the 
 amount expended by said company in construction of 
 the same and its works, the amount of tolls received 
 during the preceding year, the amount of expenses 
 during the same period, and the net profit on the 
 capital expended; and that if it shall appear from the 
 same, or be otherwise proved that the net profits of 
 the company on that part of their capital so expended 
 in the preceding year shall have exceeded fifteen per 
 cent., then the Legislature of this State shall have 
 power to make such reduction of said tolls or rates of 
 transportation as shall be found sufficient to reduce 
 them to fifteen per cent.; and that the said president 
 shall semi-annually at such times as the by-laws of 
 
32 
 
 MARYLAND CHARTER. 
 
 said company shall direct, make and declare a divi¬ 
 dend of the net profits of said company. 
 
 And whereas, it appears to this General Assembly 
 that a canal or lock and dam navigation from Cum¬ 
 berland to the mouth of Savage river, will be conduct¬ 
 ed through a fertile portion of Alleghany county, and 
 will terminate at a mineral region of great extent and 
 boundless mineral resources hitherto inaccessible, and 
 to remain comparatively useless and unproductive 
 unless some communication with the same be opened 
 by such an improvement as is contemplated by this 
 act; and that although the full extent of the mineral 
 wealth of that region is as yet imperfectly developed, 
 yet enough is known and particularly as to the ex¬ 
 tensive coal and iron mines lying there in close con¬ 
 nection with each other, to induce this General 
 Assembly to bestow its fostering care in giving life 
 and activity to these great sources of public wealth ; 
 And whereas it also appears that, apart from the 
 direct benefits to result to the people of this State 
 from opening the navigation of the Chesapeake and 
 Ohio canal to the remote borders of Alleghany, and 
 bringing to light and use these great elements of State 
 wealth, the trade and interest of the Chespeake and 
 Ohio canal, and of the Baltimore and Ohio railroad, 
 will be greatly enhanced by the completion of the im¬ 
 provements contemplated by this act; and this 
 General Assembly, in full view of all these results, 
 and earnestly desiring their accomplishment, is willing 
 
MARYLAND CHARTER. 
 
 33 
 
 by proper inducements to stimulate individual energy 
 and individual wealth to the completion of a work in¬ 
 volving such public benefits : Therefore, 
 
 Sec. 12. And be it enacted , That as soon as the 
 company incorporated by this act shall have com¬ 
 menced the construction of a canal or lock and dam 
 navigation to extend from the Chesapeake and Ohio 
 canal, at or near Cumberland, to the mouth of Sav¬ 
 age river, the said company shall have power to 
 insure against losses by fire or ivater* or other casu¬ 
 alties, to receive endowments or deposites of personal 
 or mixed property, in trust, to grant annuities, to 
 contract for reversionary payments, to make all 
 kinds of contracts in which the casualties of life and 
 interest of money are concerned, to acquire and dis¬ 
 pose of goods and effects, to provide for the invest¬ 
 ment of such parts of the funds of the company as 
 they may desire to invest in stock and mortgages in 
 such manner as they may deem most beneficial, and 
 in general to exercise and enjoy such other rights and 
 privileges as are granted by this State to the Ameri¬ 
 can Life Insurance and Trust Company, subject to all 
 the conditions , restrictions , and limitations of the said 
 company;* but that if the said canal or lock and 
 dam navigation be not completed to the mouth of 
 Savage river within the time prescribed by the tenth 
 section of this act for the completion of the same, 
 
 * The 11th section of the Supplement repeals so much as is printed in Italics, 
 
 5 
 
34 
 
 MARYLAND CHARTER. 
 
 then all the rights, powers, and privileges granted by 
 this section to said company shall wholly cease, and 
 the said company shall not thereafter hold or exer¬ 
 cise said rights, powers and privileges, or any of 
 them. 
 
 Sec. 13. And be it enacted , That if the Chesa¬ 
 peake and Ohio Canal Company for the purpose of 
 continuing the said canal to the Ohio river, by the 
 route of the Potomac river, shall require the canal 
 or lock and dam navigation of the company as part 
 thereof, at any time within the term of three years 
 after the Chesapeake and Ohio Canal shall have been 
 completed to Cumberland, the said Chesapeake and 
 Ohio Canal Company shall be entitled to and may 
 take possession of the same for said purpose, upon 
 payment or tender to the president and directors of 
 the company incorporated by this act, of the sum 
 expended by it in the construction of its said canal 
 or lock and dam navigation, and their appurtenances, 
 with legal interest thereon, deducting the net profits 
 which may have arisen from tolls or transportation 
 on the same. 
 
 Sec. 14. And be it enacted , That the company 
 incorporated by this act may and is hereby empow¬ 
 ered to unite with any company chartered by the 
 State of Virginia, with authority to make or con¬ 
 struct similar improvements in or along the Potomac, 
 above Cumberland, and that the right to take or 
 unite a canal or canals, or slack-water navigation, 
 
MARYLAND CHARTER. 
 
 35 
 
 from or to any part of the aforesaid canal or slack- 
 water navigation, in any direction, is hereby reserved 
 to the State of Maryland, and to any company or 
 companies which may be hereafter incorporated for 
 that purpose by the said State; provided, that in tak¬ 
 ing or uniting such canal or canals, or slack-water 
 navigation, and in using the waters of the canal or 
 slack-water navigation aforesaid, or of the various 
 streams connected therewith, no impediment or injury 
 shall he done to the navigation of the canal or slack- 
 water navigation aforesaid. 
 
 Sec. 15. And be it enacted , That all such parts of 
 this act, as relate to the establishment, working, or 
 carrying on of mills, mines or manufactories, and all 
 the powers, rights and privileges granted to said 
 company by the twelfth section of this act, may be 
 modified or repealed by the Legislature of this State 
 at any time after thirty years from the passage of 
 this act. 
 
We hereby certify the aforegoing to be a true copy from an 
 original act, entitled “An act to incorporate the Union Com¬ 
 pany,” which passed both branches of the Legislature of Mary¬ 
 land, at December session, eighteen hundred and thirty-five. 
 Given under our hands, at the city of Annapolis, this thirtieth 
 day of March, one thousand eight hundred and thirty-six. 
 
 GEORGE G. BREWER, 
 
 Clerk House Delegates , Md, 
 
 JOS. H. NICHOLSON, 
 
 Clerk Senate , Md . 
 
SUPPLEMENT. 
 
 AN ACT, 
 
 TO AMEND AN ACT* 
 
 ENTITLED 
 
 AN ACT 
 
 TO INCORPORATE THE 
 
 UNION COMPANY. 
 
 Sec. 1. Be it enacted by the General Assembly of 
 Maryland , That if the said Union Company shall not 
 within two years after the canal or lock and dam 
 navigation authorized to be made by the act of which 
 this is an amendment, shall have been completed from 
 the Chesapeake and Ohio canal to the mouth of Sa¬ 
 vage river, continue the same up George’s creek and 
 Savage and Potomac rivers ; or, having commenced 
 the same, shall at any time thereafter suspend the 
 said continuation thereof, on either of the said rivers 
 or George’s creek, for the space of one year, then the 
 powers granted to the said company shall not be so 
 construed, as to prevent the Legislature of this State 
 from authorizing any other company to continue the 
 same; and the Legislature reserves the right to 
 
38 SUPPLEMENT TO MARYLAND CHARTER. 
 
 authorize other persons, or companies, to connect other 
 railroads with the canal, or lock and dam and rail¬ 
 roads of the said company, subject to such regulations 
 as are provided, in like cases, for uniting with the 
 Baltimore and Ohio Railroad ; and it is expressly un¬ 
 derstood that, in estimating the tolls on the said canal, 
 or lock and dam navigation, the same rate of toll shall 
 be charged on the boats and vessels, and the cargoes 
 thereof, of the said Union Company as charged on the 
 boats and vessels and cargoes of others; nor shall 
 the said company charge as tolls on their said canal, 
 or railroad more than is now chargeable on the 
 Chesapeake and Ohio Canal, and Baltimore and Ohio 
 Railroad, respectively. 
 
 Sec: 2. Be it enacted , That the State hereby 
 reserves to itself the right of, from time to time, re¬ 
 gulating the use, by the public, of said company’s rail¬ 
 ways, at such places where a second railway cannot 
 be made, which use the Legislature may prescribe 
 and secure, subject to such tolls as it may fix or pro¬ 
 vide for having fixed, by such conditions and forfeitures 
 upon said corporation as the Legislature, in that be¬ 
 half, may direct. 
 
 Sec. 3. And be it enacted , That the president, 
 directors, and trustees of the said Union Company are 
 hereby authorized and directed to receive such evi¬ 
 dence of ownership, and be governed by such rules 
 respecting transfers of stock, bonds, or obligations 
 given for money borrowed, or for money or other pro- 
 
SUPPLEMENT TO MARYLAND CHARTER. 39 
 
 perty contracted for, or received on deposite, or in 
 trust, as are received and adopted, under the authority 
 of the United States, for transferring the funded debt 
 of the United States. 
 
 Sec. 4. And be it enacted , That the corporate 
 powers of the said Union Company, which are 
 granted in the twelfth section of the act, of which this 
 is an amendment, shall be exercised by a board of 
 trustees and such officers, agencies and branches as 
 they shall establish and locate. The board of trustees 
 shall consist of fifteen persons, who shall annually 
 elect a President from their own body, and shall have 
 power to declare, by a by-law, what number of trustees 
 less than a majority of the whole, shall be a quorum 
 for the transaction of business. 
 
 Sec. 5. And be it enacted , That the trustees shall 
 severally hold their offices during good behavior, 
 but the Alleghany county court, as a court of equity, 
 shall have power to remove a trustee, on such notice 
 to be heard as they shall deem reasonable, on appli¬ 
 cation, of any person interested, whenever it shall 
 appear that the interests of the public, or of the stock¬ 
 holders, will be promoted thereby. The board of 
 trustees shall be divided, by lot, into five classes, con¬ 
 sisting of three members each, and so arranged that the 
 term of service of one of each said classes shall expire 
 at the end of every two succeeding years, so that 
 three trustees shall be appointed every two years. 
 Every vacancy happening in the board of trustees by 
 
40 SUPPLEMENT TO MARYLAND CHARTER. 
 
 death, resignation, or otherwise, other than the ex¬ 
 piration of classes, shall be supplied by the choice of 
 the remaining trustees, and in such cases the votes of 
 a majority of all the trustees, for the time being, shall 
 be requisite to a choice. No person shall be eligible 
 who shall not have been openly nominated, at a 
 meeting of the trustees, at least one month before the 
 day on which the election is held; and no person 
 shall be a trustee who shall not be a stockholder, in 
 his own right, of at least fifty shares of the capital stock 
 of the said company, and the seat of every trustee 
 ceasing to be a stockholder, to that amount, shall be 
 immediately considered and held vacant. When 
 vacancies shall happen by the expiration of classes, 
 the same shall be supplied by elections to be held by 
 the stockholders, as near as may be, in pursuance of 
 the fourth section of the act incorporating the said 
 company. 
 
 Sec. 6. And be it enacted , That when the capital 
 stock of the said Union Company shall have been sub¬ 
 scribed, and one million of dollars thereof paid in, and 
 the said company shall have commenced the construc¬ 
 tion of the said canal or slack-water navigation, as re¬ 
 quired by the twelfth section of the act incorporating 
 the same, the board of trustees shall open a subscription 
 for twenty thousand shares, which subscription and 
 the funds accruing therefrom shall be and the same 
 are hereby pledged, reserved, set apart, and con¬ 
 stituted a specific, distinct and separate fund, to be 
 
SUPPLEMENT TO MARYLAND CHARTER. 41 
 
 invested by the said trustees in the public securities 
 of this State, or of the United States, or of the other 
 States, in real estate, in the stock of some other in¬ 
 corporated company, or in bonds or notes secured by 
 unincumbered real estate of double the value, in each 
 case, of the sum secured; as a specific security, over 
 and beyond the other funds and property of the said 
 company, for the payment of the bonds and obli¬ 
 gations entered into, and liabilities incurred, by the 
 said trustees. 
 
 Sec. 7. And be it enacted , That it shall be the duty 
 of the said trustees to send annually to the Alleghany 
 county court, as a court of equity, under their seal, a 
 fair statement of their transactions, and the said court 
 shall at all times, whenever the interest of the cor¬ 
 poration, or of others, shall require it, order a full and 
 fair investigation into the affairs of the corporation 
 by a proceeding in equity; and if, in the course of 
 such investigation, it be made manifest, that the in¬ 
 terests of those concerned require it, it shall be the 
 duty of the said court to demand, from the said com¬ 
 pany, such security as will save its creditors from loss; 
 and in case of failure to give such security, within a 
 reasonable time, the said court shall demand a sur¬ 
 render of the assets of the said corporation, and their 
 charter shall become forfeited. 
 
 Sec. 8. And be it enacted , That all the doings of the 
 said directors shall be, at all times, subject to the in¬ 
 spection of such officer, or agent of the State as may 
 6 
 
42 SUPPLEMENT TO MARYLAND CHARTER. 
 
 be selected for that purpose, by either branch of the 
 Legislature; and if, at any time, the capital stock and 
 assets of the said corporation shall not be sufficient 
 to pay all the debts incurred by the said trustees, 
 they shall be responsible in the same manner and to 
 the same extent that trustees now are, by law, respon¬ 
 sible in law, or equity. 
 
 Sec. 9. And be it enacted , That the said company 
 shall not issue any bill, or note in the nature, or style 
 of a bank note. 
 
 Sec. 10. And be it enacted , That on the first day 
 of January, after the board of trustees shall have been 
 organized, and annually thereafter, the said Union 
 Company shall pay to the treasurer of the Western 
 Shore, the sum of twenty cents, on every hundred dol¬ 
 lars of the amount authorized to be subscribed, for 
 the said specific trust fund; to be applied by the said 
 treasurer in augmentation of the free school fund, 
 and distributed in the same manner as the similar 
 tax on incorporated banks, in the city of Baltimore, 
 is now distributed ; and in case of the failure of the 
 said company, or of the president and trustees there¬ 
 of, to make such payment for the space of six months, 
 after the same shall have become due and payable, 
 the same shall be levied and collected as other taxes, 
 on personal assets, are levied and collected in this 
 State. 
 
 Sec. 11. And be it enacted , That so much of the 
 said act, incorporating the said Union Company, as 
 
SUPPLEMENT TO MARYLAND CHARTER. 43 
 
 authorizes said company to insure against losses by 
 fire or water, and so much of the same act as sub¬ 
 jects the said company to the conditions, limitations 
 and restrictions, imposed upon the American Life 
 Insurance and Trust Company, and the act supple¬ 
 mentary to the said act, are hereby repealed. 
 
 Sec. 12. And be it enacted , That this act shall 
 have no force, or effect, unless it be accepted by the 
 stockholders representing a majority of the stock of 
 said company; and this act, when so accepted, and 
 the acceptance certified to the Governor and Council, 
 under the seal of said corporation, and signed by the 
 president, shall be taken and held as part of the 
 charter originally granted to said company, and be as 
 binding, and of the same force and effect, as the 
 original charter. 
 
# 
 
 
 
 
 * 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 - 
 
 
 
 
 
 
 
 
 
 
 
 ' 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENT. 
 
 AN ACT, 
 
 SUPPLEMENTARY TO AN ACT, 
 
 ENTITLED 
 
 AN ACT 
 
 TO INCORPORATE THE 
 
 American Life Insurance and Trust Company. 
 
 Sec. 1. Be it enacted by the General Assembly of 
 Maryland , That from and after the passage of this 
 act, it shall and may be lawful for the subscribers to 
 the American Life Insurance and Trust Company, to 
 elect, on the first Monday in June next, and on the 
 same day annually thereafter, eleven persons as trus¬ 
 tees, and their power and authority as trustees shall 
 commence from the time of said election. 
 
 Sec. 2. And be it enacted , That every trustee so 
 appointed be a stockholder to the amount of fifty 
 shares, at least, and that the seat of every trustee 
 who may cease to be a stockholder, to the amount of 
 fifty shares, shall be immediately declared vacant. 
 
46 
 
 SUPPLEMENT. 
 
 Sec, 3. And be it enacted , That every vacancy 
 happening in the board of trustees, by death, resigna¬ 
 tion, disqualification or otherwise, shall be supplied 
 by the stockholders at their next meeting thereafter. 
 
 Sec. 4. And be it enacted , That the chancellor 
 shall have the like power to remove a trustee, upon 
 the application of a party interested, as a court of 
 equity has in any cases of trustees; and the said trus¬ 
 tees shall be subject to the same responsibilities as 
 trustees, appointed by a court of equity, or by act of 
 parties. 
 
 Sec. 5. And be it enacted , That the stockholders 
 shall appoint annually a president, and the said presi¬ 
 dent and trustees shall exercise all the corporate 
 powers of the said company, under the act to which 
 this is a supplement, and in addition to insurances on 
 lives or property, may accept and execute all such 
 trusts, of every description, as may be committed to 
 them by order of the courts of this State: Provided, 
 that said company, shall not be permitted to receive 
 any trusts or endowments, or grant annuities, or con¬ 
 tract for reversionary payments, or make any other 
 contracts in which the casualties of life or the inter¬ 
 est of money is concerned, until at least two hundred 
 thousand dollars shall be subscribed and actually 
 paid in, of the capital stock of said company, and in¬ 
 vested agreeably to the provisions of the sixth section 
 of this supplementary act. 
 
 Sec. 6. And be it enacted , That the said president 
 
SUPPLEMENT. 
 
 47 
 
 and trustees shall invest their capital, which they are 
 hereby authorized to increase to ten hundred thou¬ 
 sand dollars, in public securities, bonds, ground rents, 
 and mortgages upon otherwise unincumbered real 
 estate, and the premiums and profits received by the 
 company, and the money received by them in trust, 
 they shall have a discretionary power to invest in 
 such stocks, real and personal securities, as they may 
 deem safe and proper; but said company shall not 
 hold stock in any one, private, incorporated company 
 beyond twenty thousand dollars. 
 
 Sec. 7. And be it enacted , That so much of the act 
 to which this is a supplement, as may be inconsistent 
 with the provisions of this act, be and the same is 
 hereby repealed: Provided, that the subscribers under 
 the original act shall accept this act within ninety 
 days, from and after the passage thereof, and endorse 
 upon their proceedings a resolution to that effect, 
 duly verified by the signature of their chairman or 
 president, otherwise this act shall be null and of no 
 effect. 
 
 Sec. 8. And be it enacted , That this act shall have 
 no force or effect, unless it be accepted by a majority 
 of the stockholders; and this act, when so accepted, 
 shall be taken and held as part of the charter origi¬ 
 nally granted to said company, and be as binding and 
 of the same force or effect as said original charter. 
 

 7W 
 
 4 
 
 t 
 
 
 *• 
 
 
 
 « 
 
 
 
SUPPLEMENT. 
 
 AN 
 
 ADDITIONAL SUPPLEMENT 
 
 TO THE ACT, ENTITLED 
 
 AN ACT, 
 
 TO INCORPORATE THE 
 
 American Life Insurance and Trust Company. 
 
 Sec. 1. Be it enacted by the General Assembly of 
 Maryland , That at the next annual meeting of the 
 stockholders of the American Life Insurance and 
 Trust Company, which shall take place after the 
 passage of this act, it shall be lawful for the said 
 stockholders to elect, in the manner prescribed by the 
 act of incorporation of said company and the supple¬ 
 ment thereto, a president and twenty-three persons 
 as trustees, instead of a president and eleven persons 
 as trustees, as now authorized by said act and sup¬ 
 plement; and the president and trustees so elected 
 shall hold their offices during good behavior, and in 
 cases of vacancies occurring, at any time, by the 
 death, resignation or otherwise of the president, or any 
 7 
 
50 
 
 ADDITIONAL SUPPLEMENT. 
 
 of the trustees, the same shall be filled by election of 
 the stockholders, at a meeting to be called by the 
 trustees for that purpose, upon at least ten days 
 notice, and under the regulations provided, as to elec¬ 
 tions, by the acts to which this is a supplement: Pro¬ 
 vided, however, that any president or trustee may at 
 any time, for cause satisfactory to the chancellor or 
 court, be removed upon the application of a majority 
 of stockholders to the chancellor, or to Baltimore 
 county court, sitting as a court of equity; and that any 
 president or trustee he subject also to be removed, in 
 the case and in the manner provided for, in respect to 
 trustees, in the fourth section of the act supplementa¬ 
 ry to the act to which this is a supplement, passed 
 December session, eighteen hundred and thirty-four, 
 chapter two hundred and sixty-nine; and the powers 
 vested in the chancellor by section seven, of the act 
 of eighteen hundred and thirty-three, chapter two 
 hundred and fifty-six, with reference to the president 
 and directors; shall be construed to apply with full 
 force to the president and trustees authorized by 
 this act. 
 
 'Sec. 2. And he it enacted , That it shall and may 
 be lawful for the president and trustees, with the con¬ 
 sent of the stockholders holding a majority of shares, 
 at a general meeting of stockholders to be called for 
 the purpose, of which meeting at least thirty days 
 notice shall be given, in at least two newspapers of 
 the city of Baltimore, to increase their capital to the 
 
ADDITIONAL SUPPLEMENT. 
 
 51 
 
 amount of fifty dollars, per share, in such instalments, 
 and at such times, as the said president and trustees 
 may deem proper: Provided, that such increase if 
 made, shall be invested in the manner provided for the 
 investment of the trust funds of said company, and 
 that in all cases where money shall be loaned by the 
 said company, on bond or mortgage, or other security, 
 in any State other than the State of Maryland, it 
 shall be lawful for the said company to receive such 
 rate of interest, upon such loans, as is permitted to be 
 received by the laws of such State and no more. 
 
 Sec. 3. And be it enacted , That on the first Mon¬ 
 day of January next, and on the same day annually 
 thereafter, the American Life and Trust Company, 
 or the president and trustees thereof, shall pay or 
 cause to be paid to the treasurer of the Western 
 Shore, the sum of twenty cents, on every hundred 
 dollars, of the present capital of the said company 
 then actually paid in, and the like sum on so much 
 as the said capital may be increased by virtue of this 
 act, to be applied by the said treasurer in augmenta¬ 
 tion of the free school fund, and distributed in the 
 same manner as the similar tax, on incorporated 
 banks in the city of Baltimore, is now distributed; and 
 in case of the failure of the said company, or of the 
 president and trustees thereof, to make such payment 
 for the space of six months, after the same shall have 
 become due or payable, this charter shall be forfeited 
 and be deemed null and void. 
 
52 
 
 ADDITIONAL SUPPLEMENT. 
 
 Sec. 4. And be it enacted , That so much of the act 
 of Assembly to which this is a supplement, and the 
 supplement thereto, as is inconsistent herewith, he 
 and the same is hereby repealed. 
 
 Sec. 5. And be it enacted , That this act shall have 
 no effect unless it be accepted by stockholders holding 
 a majority of the shares of the stock, at a general 
 meeting of the stockholders, to be called upon thirty 
 days notice thereof, published at least twice a w T eek 
 in all the daily newspapers of the city of Baltimore, 
 in which notice, the object of such meeting shall be 
 stated, as being the question of the acceptance of 
 this act. 
 

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