Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-02-03
CAPE-FEAR NAy1GATION COMPA-
NV

~
General .fsseni6iy Of North Carolina, in
1915, concerning The Navigation If tie
Cane rear RiJer."
The style end title of sc The Deep and Haw-Ri-
YER Navigation Company" is changed 10 that oil
=. The Cape-Fear Navigation Company"
ho,ks are 60 be opened on the FIRST Monday oi
Aprii 1 SIC, for receiving subscriptions for an in
crease the capital stock OF the company to the
SUM OF 5 100000, inc ling the stock already
ed Thrs capital is to be divided into shares of 100
dollars each. The prescnt Stockholders shall de-
liver TO the President and Directors, the certcatcs
OF stock which they now hold, asd receive other
certificates in lieu thereof; and the present
Stockholders, new certificates may be issued for
part OF share, but subs upton shall hereafter
be received for part ofs snare.
Books shall be opened under the direction Of such
persons as the President and Directors of the Com
pany shall designate AVID appoint For that purpose,
and snail remas open until the FIRST MONDAY OF
June 1916, inclusive, aud before Ihe first
Monday at July, toe hooks shall I've returned %
John Eceies and John Winsiow ia the town OF Fay
ettevie, who, with the President and Dii ectors
a majority of them, shall proceed TO ascertain the
number Of shares subscribed and If more shares
are subscribed than authorised by the ac, thGy
shall proceed strike off first from the sulsciinti-
behalf OF the State and then from the ishes,
Subscribers, until the shall be reduced Que
hundred Thousand dollars, including the stock now
| holden
II fifty thousa,d dollar, shall be subscribed in at-
| hrst Monday ofJune next inclusive, this act shall
! have effect.
| The books cfthe company are made good evil
dencc OF sales OF shares which have her tuforc been
made orNl.ich shall hereafter be made Tor install
| mentsdue thereon.
The Treasurer ofthc state is directed to sub
scribe ON behalf ofthe state, $50 shares aud in the
event at holding stock in the company the state
serves the right oiappointing Director whenever
the General Assembly shall think proper to make
| such appointment.
| The subscribers shall pay ten dollars upon each
share subscribed, either at the time of Subscribing
| by the meeting Of the stockholders in June July
| and not more than S IS IS upon share shall be
| demanded in aay year thereafter
The Stockholders in the Deep and Haw River
| Navigation Company sOsi' make kuowu 20 the Gov
ernor, oa or before The FIRST day of Ma, ch 1916,
their acceptance rrejecon ofthis arnended CHAR
ter and they fail 10 do So il shall be deemed and
| taken as an acceptance thereof.
| Nights and Privileges oFthc Cowhanv.
The aiF.ira Of the Company are to be managed by
aPresitlent and five Directors, to be appointed an
| nualy, subject to be removed by the Stockholders
| IA general meeting They re-eleible and may
hup vacancies IN thu. body until tse next general
! mc'ti"g of The Stookholiers-tiey shall take an
oath affirmation for the due execution of their of
hee u'ey authorized behalfof the Gonna
ny to agree with persons to open and improve the
| navigation otCapc Fear AID all streams which RIM
| INTO the same, and G. appoint Treasurer, Toll
Gatlerers and al! necessary officers, aud make them
| vitable compensation.
The general NEE ing Of stockholders shall h.
held ON the fourth Monday in April annually The
| presence Of the p.opTietOrs owning maturity al
| shares shall be necessary to constitute a general
| meetiGg-The meeting may be a. lourncd from day
70 day until majority attend and then from day Ia
! day until the business is flushed. TO their annus,
| meetings, the President and Directors shalt make
| report and render account of their proceedings,
which heng approved OF, the Stockholders shall give
| certificate, copy of which shall be entered uvu.i
! the eompany's books. At their annual meetings
! d:ylends shall be declared. On any emergency
| the President or majority ofihe Directors may
appoHt general iaeetng, giving one months pre-
yious notice.
The company shall fix and regulate the tolls but
| IN such way that the annual amount Of Tolls shall
not exceed IS per cent. npon the Capital Stock al
ter payment Of salaries to the officers of the copa-
ny, sums required for repairs aud other Incidental
charges.
The Legislature may at the end of twenty-five
years from the fine the work shall he so far COM
p'eted that produce may be transported md notice
siveH by the company Of that fact, and at the expi-
ration oi every % years thereafter alter the rates OF
bi liked by the company hut the Legislature shall
not at any time reduce the OF foliage so as Ia
reduce the profits arising therefrom, below Is per
| cont. upOn the capital sock.
! The President and Directors shall every twenty.
httyear after their works are completed and rea-
dy Tor t'e transportation Of produce, make return
upoI oath TO the General Assembly,! the A.
| "u'it "a tuii TSceiFcuDJ tnS4n iOf the preceding
| twenty five years.
The canals, locks and every work appcrtainine
to the said navigation, with all tire profits thereflm
or any part thereof are vested IN the proprietors
their heirs & assigns for ever, rs tenants in com
| mon, in proportion to their respective shares
| and the same shall be exempt irnra the payment
| OF any tax, imposition erGssessInent whatsoever.
| The navigation aad works Of the company when
| completed, shall be forever thereafter considered
! rs public Highways free for the transportation Of
goods, wares and rnerchandiZe on payment OF the
Tolls which shall be from time 20 time fixed
| he President and Directors may agree for the
| purchase Of Lands. Rocks, 5luices or Fish-Stand
through which the Navigation is intended to pass.
In case oi disagreement, u Il Inc Cwncr I've feIne
covert, under age, non cnmpos Or ont of the state
two lustces on application, shall ISSUE warrant tn
the Sheriff OF the county, 10 summon Jury Of
eighteen Frecholders, d5inteTested and net related
TO the parties, u mesto tie Land to BE- yalaed
| The Sheriff shall su'nmon The Jury, ahmins;er an
oath u each, tia; he will value the thing in
question and consider III damages the owner NAV
sustain III consequence OF being drestcd Of his pro-
perry therein and that he will not in such valuat-
on, spare any person through favour, nor innrc any
PeTs"n through malice on hatred. The inquisition
Shall DC signed by the Sheriff aud twelve or more al
! Tie J1Ty and bang returned 20 the clerk nf the
county 20 be recorded, shall ~ conclusive. The n
mount OF the valuation shall be paid TO the owner
ot the hn, IL 70 be found ifhe IS not to be found,
| to the clerk o. the court and thereupcn the com.
PAM shall be seized ia lee of he thing valued Blu,
snch condemnation shall no, interfere with dwelling
| houses.
In the same rnanneriauds may b> purchased or
condemned for the erection Of toll houses, no,
exceeding four acres at each place intended for col