United States Statutes at Large/Volume 4/19th Congress/1st Session/Chapter 40
Chap. XL.—An Act to authorize a subscription for stock, on the part of the United States, in the Louisville and Portland Canal Company.
Secretary of the Treasury to subscribe for, in the name of the United States, 1000 shares of the capital stock of the Louisville and Portland Canal Company.
Proviso.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Treasury be, and he hereby is, authorized and directed to subscribe for, or purchase, in the name, and for the use of the United States, not exceeding one thousand shares of the capital stock of the Louisville and Portland Canal Company, and to pay for the same, at such times, and in such proportions, as may be required of, and paid by other stockholders of said company, out of any money in the treasury not otherwise appropriated: Provided, Said shares can be procured for a sum not exceeding one hundred dollars each.
Secretary of the Treasury to vote for the president, &c., of said company.Sec. 2. And be it further enacted, That the Secretary of the Treasury shall vote for president and directors of said company, according to such number of shares, and shall receive, upon the said stock, the proportion of the tolls which shall, from time to time, be due to the United States, for the shares aforesaid.
Approved, May 13, 1826.