At the town of Washington, Autauga county, on the first Monday of October next, under the superintendence of John W. Freeman, William R. Pickett, and James Jackson.

At the town of Coosawda, on the first Monday of October next, under the superintendence of Peyton Bibb, Bolling Hall, and James S. Walker.

At the town of Ashville, on the first Monday of October next, under the superintendence of Robert Lawson, Isaac S. McMeans, and George Shotwell.

At the town of Selma, on the first Monday of October next, under the superintendence of Gilbert Sheaver, Edward Conway, and William Johnston.

At the town of Cahawba, on the first Monday of October next, under the superintendence of Uriah G. Mitchell, Samuel Pickens, and Jesse Beene.

At the town of Claiborne, on the first Monday of October next, under the superintendence of James H. Draughn, Alexander Torry, and William W. McConnice.

At the city of Mobile, on the first Monday of October next, under the superintendence of Thomas L. Hallett, Thomas T. Holt, and Thomas J. Burney..

And at the town of Blakely, on the first Monday of Octobor next, under the superintendence of Russell Stebbins, James S. Seabury, and Gideon J. Mills; which subscriptions shall be kept open for forty days at each place.

SEC 4. Be it further enacted, That superintendents at Cahawba shall have full power and authority to appoint agents to open subscriptions at any other place or places they may deem proper, and to publish the times of opening the same in some newspaper published nearest the place or places of opening such subscription.

SEC. 5. Be it further enacted, That one-tenth part of each share shall be paid at the time of subscribing, and the remainder payable by instalments, not to exceed the rate of one-tenth for every six months thereafter. The times of payment to be published in the newspapers at Cahawba, Montgomery, and Mobile, every week for two months before the respective payments shall be required to be made; such times of payment to be determined by the directors. The payments to be made in specie paying currency. The superintendents shall place the moneys in the nearest bank, or other secure hands, for safe keeping, and shall, immediately after the term of subscription, give notice in writing to the superintendents at Cahawba, of the names of subscribers, the number of shares subscribed by each, and the moneys paid in; and, in case the aggregate amount of subscriptions amount to thirty thousand dollars, then the superintendents at Cahawba shall publish a day and place for the election of seven directors, every share to be entitled to one vote, and stockholders to be entitled to vote by proxy. The said superintendents at Cahawba to have full power and authority to appoint managers for holding such election.

SEC. 6. And be it further enacted, That, in case the whole amount of subscriptions shall not amount to the sum of thirty thousand dollars, the superintendents at Cahawba, shall forthwith determine,

as their discretion may direct, either to order and advertise for opening such subscriptions again at the places aforesaid by the same superintendents, or others, in case of death or removal of those previously appointed, or to direct the repayment to subscribers the sums respectively subscribed and paid.

SEC. 7. Be it further enacted, That the company hereby established shall be, and the same is hereby, made a body politic and corporate, under the name and style of the "Coosa Navigation Company," and shall so continue until one thousand eighth hundred and forty-eight, and by that name shall be, and are hereby, made able and capable in law to have, purchase, receive, possess, enjoy, and retain to them and their successors, lands, rents, tenements, hereditaments, goods, chattels, and effects, of whatever kind, nature, or quality, to an amount not exceeding in the whole one hundred and fifty thousand dollars, including in the amount of capital stock. And the same to sell, grant, demise, alien, or dispose of, to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended in any suit, action, matter, or thing, in any court, either of law or equity, or any other place whatsoever; and also to make, have, and use, a common seal, and the same to break, alter, or renew at their pleasure; and also to ordain, establish, and put in execution, such by-laws, ordinances, and regulations, as they shall deem necessary and convenient for the government of said corporation, not being contrary to the law of this State, or of the United States, and generally to do and execute all and singular the acts, matters, and things, which to them may appear necessary, or which to them it shall or may appertain to do, as incident to bodies corporate, subject nevertheless, in addition to the restrictions and provisions hereinafter prescribed and declared. SEC. 8. Be it further enacted, That the directors shall meet and organize, and appoint such officers as may be necessary for conducting the business of said company; they shall keep regular accounts, and make an annual report of their proceedings and finances to the legislature of this State. In case of the death, resignation, or removal of any one of the directors, or should a vacancy occur in any manner whatever in the board of directors, a majority of the remaining directors may fill such vacancy; and an annual election of directors shall be held on the first Monday of December, in each and every year, at Cahawba. The directors shall have power to change the place of election of directors, giving public notice thereof in some newspaper at least two months before the election.

SEC. 9. Be it further enacted, That the directors, a majority being present, shall have power to determine upon all plans of improvement relative to the contemplated improvement, and may authorize a committee or agents to contract for or superintend the execution of any such plan; and to make contracts for necessary supplies, or for such engineers and laborers as may be required; not to exceed in amount or value the sums appropriated by the board of directors.

SEC. 10. Be it further enacted, That the directors may subscribe to such company as may be incorporated by the legislature of the

State of Tennessee, for the purposes mentioned in the first section of this act, a sum not exceeding the one third part of the whole subscribed capital of the company hereby incorporated: Provided, That no such subscription shall be made unless the assent of a majority in interest of the stockholders be obtained in writing.

SEC. 11. Be it further enacted, That the directors shall have power to enforce the payment of stock subscribed, either by making a failure amount to a forfeiture or otherwise.

SEC. 12. Be it further enacted, That when the improvements of the fall, called Wetumka, shall be deemed by the directors to be completed, and the directors shall desire liberty to receive toll for the passage of boats of the same, they shall apply to the governor of this State, who shall cause the same to be examined; and in case such improvement is deemed completed, so as to admit the easy and safe ascent and descent of boats of fifty tons burthen, then he shall certify the same to the directors; whereupon they shall be authorized to make regulations for receiving toll not exceeding the rates hereinafter mentioned, that is to say, for each barrel twelve and a half cents.

SEC. 13. Be it further enacted, That when the several shoals above the Wetumka falls, including those at the "Ten Islands," shall be deemed completed, as far as to allow the easy and safe ascent and descent of boats of twenty tons, then the directors may apply to the governor of this State and obtain a certificate, in like manner as is provided in the last preceeding section of this act; and shall, thereupon, be authorized to make regulations for receiving toll, not exceeding the rates hereinafter mentioned, viz, for each barrel twelve and a half cents.

SEC. 14. Be it further enacted, That when the directors shall certify to the governor of this State, that any shoal or shoals is, or are, in a partial state of forwardness, so as to admit the safe ascent and descent of boats of twenty tons, the governor shall, on being satisfied with the state of improvement of said river, or any part thereof, grant liberty to receive toll at such rates as, from the state of the works, he may deem proper.

SEC. 15. Be it further enacted, That the directors, after receiving said toll on all or any part of the works, shall commence and declare semi-annual dividends, on the first Monday of June and December in each and every year, of nett proceeds, as may be above all expenses, and sums necessary for repairs and improvements.

SEC. 16. Be it further enacted, That stock shall be transferable only on the books of the company.

SEC. 17. Be it further enacted, That the directors, by and with the consent of a majority in interest of the stockholders, may enter into such contract with any company which may be formed by the State of Tennessee for opening the communication between the waters of Tennessee and Alabama rivers, which may be requisite to complete a canal, or improve the waters in Tennessee leading to the point of communication, as they may deem proper, not contravening any of the laws and regulations of the State of Tennes

Ex. Doc. No 50.

HOUSE OF REPRESENTATIVES.

MAIL FROM NEW YORK TO BREMEN.

LETTER

FROM THE

POSTMASTER GENERAL,

Transmitting a copy of the contract made with the Ocean Steam Navigation Company for taking the United States mail between New York and Bremen, upon the terms and conditions required by the act of 3d March, 1845.

MARCH 13, 1848.

Referred to the Committee on the Post Office and Post Roads, and ordered to be printed.

POST OFFICE DEPARTMENT,

2d March, 1847.

SIR: In compliance with the first section of the act of the 3d of March, 1845, "to provide for the transportation of the mail between the United States and foreign countries, and for other purposes," I have the honor to transmit the copy of a contract made with the Ocean Steam Navigation Company for taking the United States mail between New York and Bremen, upon the terms and conditions required by said act.

I am, respectfully, your obedient servant,

To the SPEAKER

Of the House of Representatives.

C. JOHNSON.

FOREIGN MAILS.

$100,000 per annum for the every other month service: or 400,000 per annum for the full semi-monthly service to Bremen

Haven: or

350,000 per annum for the full semi-monthly service to Havre and Bremen Haven alternately.

This article of contract, made the second day of February, in the year one thousand eight hundred and forty-seven, between the United States and the Ocean Steam Navigation Company, of the city of New York, witnesseth:

That whereas one Edward Mills, of the city of New York, was, on the nineteenth day of February, one thousand eight hundred and forty-six, accepted, according to the provisions of the act of Congress entitled an act to provide for the transportation of the mail between the United States and foreign countries, and for other purposes, as contractor for establishing a line of steamships and for carrying the mail to and from Europe, at the annual compensation hereinafter expressed: And whereas, said acceptance, which was conditioned upon an appropriation of Congress, has been confirmed by acts of Congress making appropriations for said service, approved on the 19th June, 1846, aforesaid, and on the 2d March, 1847:

And whereas, the said Edward Mills did, on the nineteenth day of April, in the year one thousand eight hundred and forty-seven, with Herman Oelricks, John A. Iselin and John L. Stephens, his sureties, jointly and severally undertake, covenant and agree with the United States as in these presents afterwards expressed:

And whereas the said Edward Mills hath, by assignment bearing even date herewith, assigned, transferred and set over to the said the Ocean Steam Navigation Company, their successors and assigns, the said contract, and all benefit and advantage thereof, and all moneys to be received therefrom or thereunder; which assignment hath been this day confirmed by the said the United States:

And whereas the said United States have agreed to execute this present contract with the Ocean Steam Navigation Company, in lieu of the said contract between the said the United States and the said Edward Mills:

Now, therefore, the said the Ocean Steam Navigation Company do undertake, covenant and agree with the United States, and do bind themselves to establish a line of steamships, and to carry the mail to and from Europe, as follows, to wit: to construct and complete, by the first day of March, 1847, a first class steamship, not Jess than fourteen hundred tons, nor less than ten hundred horses' power, and to convey the mails in said ship from New York to Cowes, in England, and thence to Bremen Haven, in Germany, and from said Bremen Haven, by Cowes, to New York; and perform regular trips, and convey the mail as aforesaid, as often as once in two months from each end of said route; and by the first day of August in 1847, to construct and complete another steamship of the