Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-02-08
CAPE FEAR NAVIGATION COMPA-
NV


February 1. Soft
CAPE FEAR NAVIGATION COMPA-
NY.
ABSTRACT Of" I'm .dct hassed by the
General assembly Of North Carolina. in
1878, concerning the Navigation Of tie
Cahe-Fedr RiUer."
The STYLE and tile of" The Deep and Haw-Ri-
yer Navigation Company is changed To that OF
" The Cape-Fear Navigation Company"
Books are to be opened on the FIRST Monday of
April 1916, for receiving subscriptions for AN in
otthe capital stock of the company to the
sam of = 10000, including the stock already own
ed This capital is to be divided into shares OF 100
dollars each The present Stockholders shall de-
liver to the President and Directors the certificates
CT stock which they now hold, and receive other
certificates ia lieu thereof; and as TO The present
Stockholders. new certificates may be issued for
part OF share, but no subscription shall hereafter
be received for PIT OLA share
Bonks shall be opened under the direction of such
persons the President and Directors Of the Com
pany shall designate and appoint Tor hat purpose
and shall remaiR open until the first Monday oil
June lSl6 inclusive, and or before the first
Monday OF July, the books shall be returned to
John Eceies and John WinsIow In the town of F:,-
elteviIle who with the President and Directors. or
majority Of them, shall proceed TO ascertain ia.
number at shares subscribed ana il more shares
are snbscr'b ,han authorised by the ac' they
shall proceed To strike off, first from tie subscrnti-
on on behalf OF the State, and then from the highest
subscribers until the shall be reduced 70 one
hundred thousand dollars, including the stock now
holden.
lf6fty lhousand dollars shall be subscribed in ad
ditoa tn the prsseut stock oithe company hy the
hrst Monday oil J0ic next inclusive, this shall
have effect.
The books ofthe company are made good evil
denee OF sales of shares which have here tolre been
made orws'sh shal! hereafter be made for iust'l-
mrntsdGe thereon.
The Treasurer ofthe state is directed to sub.
scribe ON behalf oft,c state, $50 shares and in the
event OF holding stock ~ tire compsay, the state re-
serves the right oFarpniutrg Director whenever
the General Assembly shall think proper to make
such appointment
The subscribers shall ray ten dollars upon each
shsr' subscribed, either at tie time OF subscribing o.
by the meeting ct the stockholders in June July
--andnot more than 3 So SIS upon share shall be
demanded inany year thereafter
The Stockholders in the Deep and Haw River
iNAViSatlon Company shall make knowR TO the Gov
ernor, or or before the first day Of March 1916
their acceptance or rejection oIths amended char
ter and fthey fail 10 do so, il shall be deemed and
r taken as an acceptance thereof
Rights and Privileges ofhfe CoD,h1nv.
Inc affairs ~ the Company are TO be managed by
aPiesrent and i've Directors to be appointed an.
nusly, subject TO be removed by tile Stockholders
4 ~ general meeting. They re-eligibe aud may
Huup vacancies III their body until the next peaera
meeting nf the Stockholders-they shall take an
oath or affirmation Tor the due execution of their Of
ice they are autlIorized on bels,lfof the Comt,a-
ny To- agree with persons 10 open and improve The
navigation OF Cape Fear ard all streams which run
mo the same, and tn appOnat a Treasurer, Toll
tiaterers and all necessary officers and make tle,n
suitable compensation.
he general meeting OF tie Stockholders shall he
req Oh the fourth Monday in April annua!lv --9'he
presence OF tue prOpretOrs owning a piil,,rity of
SHARES shall ne necessary TO constitute a general
theeung--ih lac meeting may be adjourned from slav
tooay until majority attend and then om ,lay 10
uay unt the business is finish d. 10 their annual
meetings, the President and Directors shall make
'SpOrt ana render account of their PROCEEDINGS
which being approved of, the Stockholders shall rive
aceIlicate, a eopy Of which shall BE- entered uIon
nc company books. At their annual meetings
S''uends shall be declared. On any emergency
sae PRESIDENT or a msjority ofthe Directors may
sppo'"t general meeting, giving one months pre-
ylOus notice -
The company shall fix and regulate the tolls but
~ Such way that the annual amount Of tolls shall
iot exceed IS per cent upon the Capital Stock, az
ter payment OF salaries the officers of the comma
charges
lhe Legislature may at the end Of twenty-five
y.aFsitp tie lime the work shall be So far COM
p'cteo That produce may be transported and notice
bNe@t y u,e company of that fact, and az the cxpi-
ISv, ol every % years thereafter alter the rates of
'' hAeu 10y the company but the Legislature shall
10Y az any time reduce the rates 81 foliage so as to
lsunee Tie profits arising thercirOin, below Is per
Nl'V" tft capltM Ock.
ne PRESIDENT aud Directors shall every twenty.
II'ulytsr atertiieir wo.ksa-e completed and rcs-
ny Tor the transportation OF prOluce make return
upon oath TO the General Assembly,--of the a.
nIoun' Of to'l received by them Tor the preceding
twenty-five years.
1 he canals, loeksand every work apperlainng
20 lie sNd navigator with all the profits theresron
or any part thereof are vested IN the proprieiors
ho'r heirs y assigns for ever, rs tenants IL COM
inon, pa proport on 70 their respective shares
"pa the same shall be exempt IRON the payment
oi any tax, imPestoa sr assessment whatsoever.
he navigation and works Of tlie company, when
completed, shall be forever thereafter considered
IS public Highways, free Tor The transportation OF
gods, wares and mechanics on payment Of the
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