United States Statutes at Large/Volume 4/20th Congress/2nd Session/Chapter 33
[Obsolete.]
Chap. XXXIII.—An Act to authorize a subscription for stock on the part of the United States, in the Louisville and Portland Canal Company.
Forfeited stock in Louisville and Portland canal, to be purchased by the United States.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, any stock which may have been forfeited to the company, and which shall be undisposed of on the fourth day of March next, not exceeding thirteen hundred and fifty shares of the capital stock of the Louisville and Portland Canal Company; and to pay for the same, when called upon by said company, out of any money in the treasury not otherwise appropriated: Provided, Said shares can be had for a sum not exceeding one hundred dollars each.
Secretary of the Treasury to vote, &c.Sec. 2. And be it further enacted, That the said 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 stock aforesaid.
Approved, March 2, 1829.