United States Statutes at Large/Volume 2/12th Congress/1st Session/Chapter 76
Chap. LXXVI.—An Act to carry into effect an act of the Legislature of the state of Maryland.
Act of the Maryland legislature declared to be in force.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the act of the legislature of the state of Maryland, entituled “An act to authorize two lotteries in the city of Washington,” passed at the session of the said legislature, in November, one thousand seven hundred and ninety-five, for the purpose of raising fifty-two thousand and five hundred dollars, be, and the same is hereby declared to be in full force in the district of Columbia; and it shall and may be lawful to carry the same into effect, subject to the alterations, restrictions and provisions herein after mentioned.
Powers heretofore vested in commissioners under the law of Maryland transferred to the Washington Canal Company.Sec. 2. And be it further enacted, That all the rights, power and authority given, in and by the before recited act, to Daniel Carroll of Duddington, Lewis Deblois, George Walker, William M. Duncanson, Thomas Law and James Barry, shall hereafter be vested in, and exercised by the president and directors of the “Washington Canal Company : Provided, the said president and directors shall, before the sale or disposal of any ticket or tickets in said lotteries, give bond to the treasurer of the United States, for the time being, in the penalty of one hundred thousand dollars, conditioned that they will truly and impartially exercise the power and authority vested in them by this act; and well and truly apply the monies arising from the sale of the tickets, within two months after the drawing thereof, to the payment of the prizes drawn by the fortunate adventurers in said lotteries, and the necessary expenses incurred in the management thereof, and the residue, to the completing the canal in the city of Washington, and rendering the same navigable, and draining the marshes and low grounds contiguous thereto:Proviso. And provided also, that it shall be lawful for Congress hereafter to create by law additional shares in the stock of said Washington Canal Company, for the sole use and benefit of the corporation of the city of Washington, which shares so created shall bear the same proportion to the whole shares held by said company, as the money raised by the aforesaid lotteries and actually applied to the completing of the canal in the city of Washington, and rendering the same navigable, shall bear to the monies and interest thereon, which has been or may hereafter be expended by the Washington Canal Company for the purposes aforesaid.
Approved, May 6, 1812.