other things,) that, "whenever any vacancy shall occur in the board of trustees by death, resignation or other causes, such vacancies shall be filled by the general assembly, or by the subscribers aforesaid, or their assignees, to whom belonged the election of the trustee whose seat shall become vacant, as the case may be," but no provision is made in the said act for the manner and form in which such vacancy shall be supplied: AND WHEREAS, By the twenty-seventh section of said act, it is (amongst other things) declared, "that should either of the said trustees embezzle or fraudulently convert to his own use, or secrete with intent so to convert to his own use, any of the funds, choses in action, securities or effects which may come to his hands or possession under or by virtue of the trusts created by the said recited act, the trustees so offending shall be deemed to have committed the crime of grand larceny, and upon conviction thereof shall suffer the punishment prescribed for that offence," as in the said recited act more particularly mentioned; but no provision is made in the said act for the discharge or removal of such offender. Now, therefore,

Be it enacted, that in case of the death, resignation, refusal to act, permanent absence, or bodily or mental infirmity, of any or either of the said trustees, whereby such trustee shall be rendered incapable of fulfilling the duties of the said trust, according to the true intent and meaning of the said act; or in case any or either of the said trustees shall embezzle, or fraudulently convert to his own use, or secrete with that intention, any of the property which may come to his hands or possession by virtue of the trust aforesaid, whether such events shall happen during the said first three years of the trust, or at any time afterwards during the continuance of the said trust; then in every such case the place of the trustee so dying, resigning, refusing to act, becoming permanently absent, or incapacitated, or embezzling, or fraudulently converting to his own use, or secreting with that intention, any of the trust property as aforesaid, shall be deemed and be taken to have become and be absolutely vacated; and immediately thereupon such vacancies shall, as to the trustees to be named by the State, be filled up by the general assembly, if in session, or if in recess, then by the governor, as directed by the said twelfth section of the said act; and when so appointed, shall hold his office until the meeting of the next general assembly; and such vacancy or vacancies, as to the two trustees, or either of them, to be elected by the said subscribers, in the manner herein before, and in the said recited act mentioned, shall be filled up in like manner by the subscribers; and such new trustee or trustees, when named by the State as aforesaid, or elected by the said subscribers as aforesaid, as the case may be, shall immediately upon such election or appointment, and after taking the oath or affirmation, and giving the bond with security, as directed in the said tenth section of the said act, stand and be possessed of and invested with the same powers and authorities in all respects as if they or he had been originally elected or appointed trustee or trustees for the purposes of the said act.

Provided, also, and it is hereby expressly enacted and declared, that when either or both of the trustees to be elected by the subscribers towards the completion of the said canal and its works, as in the eleventh section of this present act mentioned, shall, at any time whatever, mis

conduct himself or themselves in his or their office, or shall become bankrupt or insolvent, or make or offer any compromise with his or their creditors, then and in every such case it shall be lawful for a majority of such subscribers in number and value present, personally, or by agent duly authorized by proxy, at any meeting to be convened and holden in New York for that purpose, by and on the part of such subscribers, of which one month's previous notice shall have been given, by or on the part of the said subscribers, in manner in the said eleventh section of this act provided, or as near thereto as circumstances will permit; and full power and authority is hereby given to the said subscribers for that pupose forthwith to remove such trustee or trustees from his or their office of trustees, and at the same meeting to elect one or more trustee or trustees in the place and stead of such trustee or trustees to be so removed as aforesaid, as in the eleventh section of this act mentioned, and the resolutions to be signed by the chairman presiding at such meeting of subscribers, shall be a sufficient warrant and authority for the removal of such first mentioned trustee or trustees, and the election of one or more new trustee or trustees in his or their place or stead, for and on behalf of said subscribers, and such removal or removals, and election or elections respectively, shall be deemed, taken, and acknowledged, to be good at law and in equity, (anything herein before, or in the said recited act, to the contrary notwithstanding.) And it is hereby further declared, that such new trustee or trustees, when so elected as herein before mentioned, shall immediately upon such election, and after taking the oath or affirmation, and giving bond and security, as directed by the said tenth section of the said recited act, stand and be possessed of and invested with the same powers and authorities, in all cases, as if he or they had been originally elected or appointed trustee or trustees for the purposes of the said act: Provided, also, that no person shall hold or be eligible to the office of trustee on the part of the State, who is notoriously bankrupt or insolvent, and in case such State trustee shall at any time whatever become bankrupt or insolvent, or make or offer any compromise with his creditors, or be guilty of any gross misconduct in office, then and in that case the office shall be deemed and taken to be absolutely vacated, and immediately thereupon said vacancy shall be filled by the general assembly, if in session, or otherwise by the governor, until such time as an election is made by the general assembly, as provided in the twelfth section of said act.

Provided, also, that the said trustees, and each and every of them, shall be, and they are hereby expressly prohibited from taking, or being directly or indirectly interested in, any job, work or contract, let or to be let on said canal, or being in anywise connected during the time of his or their continuance in office.

And provided further, that said trustees, and each and every of them or any other person or persons, by or on behalf of the subscribers to, or holders of any stock set over on said canal, shall be, and they are hereby expressly prohibited from buying or selling any canal land scrip, or from receiving the same in payment for any lands, or on any account, at any sum less than the face of such scrip and interest thereon.

And provided further, that no trustee named in this act shall, either

directly or indirectly, be engaged or interested in any transportation or boat company on said canal. And upon violating any of the above provisions it shall work a forfeiture of his office, and render him for ever incapable of holding the office of trustee.

SEC. 13. That in order to the greater security of the State, and also of the subscribers, and with a view to induce greater confidence in the latter: Be it enacted, that all sums of money which shall be received by the trustees, or any of them, or which shall come to their hands or possession during the continuance, and in virtue of the said trust, shall, (after retaining so much thereof only as shall be required for the payment of workmen and laborers, and other current and necessary expenses of the said trust,) be forthwith deposited by them in some safe bank or banks in the city of New York aforesaid, to be there placed to an account to be entitled "the account of the board of trustees of the Wabash and Erie canal;" and all drafts and orders for the payment of any sums of money, to be drawn by the said trustees on the said bank or banks, shall be signed by a majority of the said trustees.

SEC. 14. AND WHEREAS, by the fourth section of the said recited act, it is enacted "that the stock created pursuant to the said act is to be transferable only in the city of New York, in books to be provided for that purpose by the State," in manner in the said fourth section more particularly mentioned; and by the fifth section of said act it is enacted "that the interest on the stock thereby created shall be payable half yearly, at the city of New York," on the days and times therein mentioned: AND WHEREAS it is ascertained that a very considerable portion of the bonds of the said State are held by foreigners, otherwise unconnected with the United States, domiciled in other countries, and subject to other laws: AND WHEREAS doubts have been suggested on the part of some such last mentioned persons, in respect of the matters hereinafter mentioned or referred to, which doubts may operate prejudicially to the operations contemplated by the said recited act, and it is therefore expedient that the same be removed: Now to demonstrate the good faith of the State of Indiana, and for the removal of all such doubts as aforesaid, and with a view to create general confidence in the arrangement made in the said recited act by the State for the liquidation of its debt: Be it enacted, that the tolls, revenues and profits of the said canal, and its appurtenances, present and future, and the moneys to arise and be collected by and from the sales of the lands and premises contiguous thereto, and in the said act more particularly mentioned and described, and the personal taxes to be levied towards the payment of the said debt, as in the said act also mentioned, and the receipt and application thereof for that purpose, as in the same act also provided, shall remain and be inviolate and in full force; and the payment of the principal moneys and interest on the certificates and stock intended to be created pursuant to the said act and this act, and all the certificates and evidences of the title thereof respectively, shall be and continue effectual and inviolate by the means aforesaid, until the objects and purposes of the said act and this present act shall be fully accomplished. Be it further enacted, that if a foreigner be holder of any such certificates or stock, or otherwise beneficially entitled thereto, the same shall pass to his representatives on his decease, of whatever nation he may be,

in the order of succession established by the laws of the country of which such foreigner was a subject at the time of his decease, and shall not be liable to the payment of any fees or charges on the part of any of the authorities of said State, by reason of such decease, or by reason of the transfer, descent, or distribution of any such stock or certificates thereby occasioned. And for the reasons and with the, view to induce such confidence as aforesaid: Be it further enacted, that all stock to be created, and all certificates and other instruments of title to be issued in pursuance of the said act, and all principal moneys and interest thereby respectively secured, shall not be molested or impaired, arrested or attached by the State of Indiana.

SEC. 15. AND WHEREAS, by the eighth section of the said act, it is declared that "if the State at any time thereafter becomes the holder of any of the said stock, she may, at her election, deem it to be extinguished, or she may regard it as still outstanding, and be entitled to receive and draw upon it whatever of interest the tolls and revenues of the said canal may pay upon it: AND WHEREAS, any re-issue of such stock, or of the certificates to be issued in pursuance of the said recited act or this act, will prejudicially affect the value of the residue thereof which shall be outstanding in the hands of the public, and also deter holders from becoming subscribers to the said intended advance, on or before the first day of May, 1847, as is provided in the second section of this act: Be it enacted, that whenever the State shall become the holder of any of the said bonds, certificates, or special stock, such bonds, certificates, or special stock, shall not be re-issued on any account whatever; and the particulars in writing of all such last mentioned stock, and the numbers, dates and amounts of all such last mentioned bonds, certificates, or special stock, shall from time to time be rendered by some competent officer of the said State to the trustees, for the guidance and information of the latter: Provided, nevertheless, that in other respects the same shall stand upon the same footing as if held by individuals; and the said State shall be entitled to receive and draw upon such of the said bonds, or certificates, or special stock, as shall be chargeable on the tolls and revenues of the said canal, whatever the tolls and revenues of the said canal may pay upon it or them from time to time, by way of interest or otherwise, as in the said eighth section of the said act is mentioned.

SEC. 16. AND WHEREAS, by the ninth section of the said act, it is (amongst other things) enacted, that "before the deed of trust therein. provided to be given shall be delivered to the said trustees, the said subscribers to the said advance shall pay over to the said trustees a certain per centage on the amount of their said subscription, and thereafter from time to time, as further sums shall be needed for the prosecution of the said canal, they shall, on the requisition of the said trustees, pay over to them such sum or sums as they may call for, not exceeding, however, at any one time, five per cent. on the entire subscription; and if the said subscribers, for the space of ninety days after any such call by the said trustees, shall fail to pay the sum or sums so required, they shall forfeit all the sums previously advanced, and also all the priority and preference which by the said act is given them." AND WHEREAS, justice requires that all subscribers to the said advance shall

have reasonable notice of such calls in the said act mentioned, especially those who are not resident within the United States, previously to incurring the forfeitures in the said act also mentioned: AND WHereas, doubts may arise as to the legal effects of such forfeitures, and it is expedient to remove the same:

Now, therefore, be it enacted, that whenever any call or calls shall be made by the said trustees, in pursuance of the said act, the said trustees shall cause notice thereof to be thrice inserted in the London Gazette and "Times" newspaper, and in two of the principal New York daily journals, stating the amounts of such call, and the time and place to be appointed for payment thereof; and it is hereby declared, that the said ninety days, at the expiration of which such forfeiture is to be incurred in default of payment as in the said act mentioned, shall commence and be computed from the date of the London Gazette in which the third of such advertisements shall be inserted, and not before, anything in the said act to the contrary notwithstanding. And in order to remove the doubts herein before mentioned as to the effect of such calls, and any forfeiture to accrue in respect thereof, as aforesaid: Be it enacted, that in case of each such call so to be made and advertised as aforesaid, time shall be deemed to be of the essence of the contract, and the defaulting party shall forfeit all sums previously advanced by him, as in the said act mentioned, and also all the priority and preference therein also mentioned; and all contract, claim, right, or demand, (if any,) in respect of the subscription in the said ninth section, of the said act mentioned, shall, as between the said State of Indiana and such defaulting party, and as between the said trustees for the time being, and the said party, thereupon cease, be at an end, and absolutely determined.

SEC. 17. AND WHEREAS, by the sixth section of the said recited act, it is (amongst other things) required that such sums of money shall be subscribed as shall "insure the completion of the said canal to Evansville, and all necessary side cuts, feeders, feeder-dams, reservoirs, and all side cuts which may be hereafter particularly mentioned, within four years from the taking effect of this act:" AND WHEREAS, by the said ninth section of the said recited act, it is (amongst other things) enacted, that "if by reason of the failure of the said subscribers to make said advances therein before mentioned, the said trustees shall not be able to effect the completion of the said canal within the period therein before mentioned, then and in that case the lands and property thereby granted to the said trustees, shall revert back to, and become the property of the State;" AND WHEREAS, it may happen that the said trustees shall not be able to effect the completion of the said canal within the period so limited as aforesaid, without any default of the said subscribers, but by reason of natural or local causes or calamities, beyond the control of the said trustees, or the misfeasance, absence, or incapacity of any officer to be appointed by the State, it is expedient that just and reasonable allowance should be made for the same as hereinafter next mentioned:

Now, therefore, be it enacted, that in case the completion of the said canal, or any of the works belonging thereto, or connected therewith, shall at any time be obstructed, retarded, injured, damaged or destroyed, by storm, tempest, hurricane, inundation, fire, civil or military com