Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-02-01
.NEW .4DTENIISE.IfE.N'7S
CAPE FEAR NAVIGATION COMPA-
NY
Dererlker o.

NY.
ABSTRACT Of" IN Act fiassed by the
General assembly Of North Carolina, in
1918, concerning the Navigation Of tie
Cahe-Fear RiUer."
The style aud title of" The Deep and Haw-Ri.
yer Navigation Company is changed to that Of
he Cape-tear Navigation Company"
Eooks are to be opened on the first Monday of
AprIi 1910, Tor receiving subscriptions for an IN
crease ot the capital stock OF the COMPANY To the
sum OF . 100000, including the stock already own
ca. his capital Is to be divided into shares OF 100
COLLARS each. The present Stockholders shall de-
ver TO the President and Directors the certificate.
OIL STOCK which they now hold, ard receive other
eerthcates IN lieu thereof; and AS TO the present
Stockholders, new certificates may be issued for
part oil share, but no subscription shall hereafter
De received Tor part OF share.
Books shall be opened under the direction of sneh
persons rs the President and Directors of The Com
paiiy Shall designate aad appoint for that purposo
anu siiaii reInaiR open until the nrst Monday OF
Juhe 1916, inclusive, and on or before tue first
Monday oil July, the books shall be returned to
john Eceles anu John Wnslow in the town of Fay
ette'ie, who, with the President and Directors or
majority OF them, shall proceed 10 ascertain the
h'llnSer Oh shares subscribed and if more shares
are subscribed than authorised by tie ac; thev
shall proceed to strike oil, first from the suoscrpt
on on oehalE OF the State, and then from the highest
suDscIibers, until the shall be reduced to ore
hundred thousand dollars, including tho stock now
holden.
II iiity thousand dollars shall be subscribed in adj
uition to the present stock ofthe company Inv The
hrst Monday oi June next inclusive, this act sail
have effect
The books ofthe company are made eom eyi.
dence OF sales ofshares which have heretofore been
made orwi:h shall hereafter be made Tor inst.;-
ments due thereon.
The Treasurer oftle state is directed to sub
scribe on behalf OF the state $50 shares aud in the
event %. holding in
serves the right Of app0inting a Director whenever
The General Assembly siall think proper to make
such appointment.
The subscribers s,ail pay ten dollars upon each
snare subscribed e,lher at the time Of subscribing or
by the meeting Ci the stockholders IN June or Julv
-and not more than s, % IS upon share shall be
demanded may one year thereafter.
ne St"ckhoiders IA the Deep and uaw River
Navigation Company shall maze known To the Gov
ERGO, oa or before the first day Of Mach 1916
teir acceptance or ection Of This amended char
ter and they fail to do So il shall be deemed and
taken AS an acceptance thereof.
Rights and PrivilegeS 9rthc Comh.ny.
he affairs Of the Comps are to be ma aged Dy
aPresnleDt and five Directors TO be appoinisd en-.
hualiJ, subject to be removed by the Stockholders
IN general meeting. They are re-eiiVble and may
MI up vacancies IN their body until the next geaers
iheet'pS OF the StockhOlders-tbey shall take an
OATH or affirmation for the due execution OF their nj
ny to agree with persons TO open aud improve the
navigation otCapc.Fear and ali streams which run
INTO the same, aud to appoint a Treasurer, Toll
'aherer5 and all necessary officers, aud make them
suitable compensation.
ne general meeting OF the Stockholders shall be
held on The fourth Monday in April annually ihe
presence OF tie proprietors owning majority of
shares shall Nc necessary to constitute q general
meeung.--Ihe meeting may Be adj ouraed from day
TO uay until majority attend, and then ON day 10
DAY until the business Is finished. 10 their annual
meetings, tho President and Directors shall make
report sud render account OF their PROCEEDINGS.
wien being approved OF, the Stockholders shall rive
certificate, cops Of winch snail be entered u1on
TIE company books. AZ their annual meetings
dividends shall b. declared On any emergency
uie President or q majority ofthe Directors NAY
appo'nt general meeting, gsing one months pre-.
yious not CO.
The COMPANY shall tx and regulate the tolls lu,
IN such way tia; the annual amount OF tolls shall
not exceed Is per cent upon tie Capital Stock, al
ter pay ment of salaries 10 the officers Oft Tie comma
~, SUNS required for repairs aud other Incidental
charges
The Legislature may IT the end Of twenty-five
years from the time the work shall be 80 lar com
pieten tnat produce may BE- transported nd notice
sVcn by the company o. that fact, sud Il tLe eap