The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-03-17

3. Re n fUrikfr enacted, That Inc Capital Stock
Of said Conpany shall consist Of T~enly Thou
sand Shat,s. of One Hundred Dollars eaca, amour.
ling TO two millions OF dollars
4 RI II 6ytker enacted, That when the nett
nro6ts or said Company shall have amounted TO
sum eonal 10 the capital stock, with SIX per Gen.
um interest thereon, then the charges for trans
narration shall be regulated, not 10 exceed upon
The whole capital stock expended after deductng
all charges for keeping said Road in repair, and
for other purposes, fifteen per centum interest up
on the whole capital stock expended by said Cor.
poration.
) Be Il further enacted, That il, upon the ex-
animation OF that part of the route leading from
the point where the road shall strike the adkin
River, or any portion thereof, and extending thro
the valley of said river 10 the town Of Nilkesbo-
rough, the Stockholders of said corporation, In a
general meeting IA majority OF two-thlrds being
in favor thereby shall determine upon the eNpe.
diency Of rendering said river, or any portion
thereof navigable, they shall be, and are hereby
vested with all neeessay powers TO carry the same
into effect; and may own, possess and employ Up
on said river steam boats, and pole boats, and all
other crafts suitable or necessary TO said nayiga
tiun, and shall possess all the powers and prIVIle
ges now possessed and enjoyed by the Cape Fear
F
the limitation aud restrictions which are imposed
on the said Company, so far as they may be APP
plicabe TO tie navigation Of the Yadkin river; and
shall be entitled 10 demand aud receive freight for
transportation on goods, wares, merchandise pro-
duce and passengers, conveyed on their boats at a
rate not exceeding the rate which they BY their
act, would be entitled 10 receive IT conveyed on
said Rail Roads, PTOrided, that nothing contained
in this Act shah be construed as to prevent IN
dlyiduals from navigating such portions OF said
river as is now open for navigation, wiIhoU thlnd-
rance or the payment of any toll whatsoever.
D. h. Il furthr enacted That il shall be the du.
y of said Corporation 10 keep full and fair record
OF their proceeding in Books provided tor that par
pose, aud shall produce said records in any Court
Of Justice whenever required 80 10 do BY orde, OF
said Court
!. Be 1t further enacted, Tha: il twenty miles
of said Ran Road be not completed within four
years after the passing OF this Act, then this Act
shall be void and of no effect
:. Be II fuIther enacted, That so much Of the
Act Incorporating the Cape Fear, iadAin and Pc
&c, Rail Road Company, comes within the
meaning and purvew of this Act be, and the same
is hereby repealed
9. BE IT further enacted, That this Corporation
shall exist tor the terms OF ninety years, and no
longer, unless renewed BY the Legislature
10. Be Il further enacted, That this Act shall
be In force from and after the ratification thereof.
IL. be It further enacted, Ii shall be the duty OF
the said company 10 transport all produce aud 9th
er commodities delivered at any place OF dePOslie
established BY said Company on SAID Rnod and
to transport lhe sane in the order OF time 10 SGch
such produce and other commodities shall have
been received, 50 10 DO equal justice 10 ali, aGd
give preference 10 no one
II Be II further enacted, Tina, all the property
owned By the SAID Company, shall be deemed aud
held as personal Estate aud shall not he sui gc,
to taxation for fifteen years ffou the passage OF
thls Act; after winch lIme, Wheneyer she nett
profits Of the said Company shall exceed SIX per
cent. per annun, the General Assembly Of this
State may impose tax, not exceeding twenty-five
cents per snare each share OF the capital stock
Of the said Company.
l3 Be il further enacted, That if the North Ca
rohna Central Rail Road Company shall determine
10 favor OF constructing their Rail Rold from Of
near the har5or Of Bsauiurl To iuGersect aud unite
with the Rail Road authorized to De constructed
by this Act II shall b. the duty oil the saii Fay.
e,isyl.le aud Western Raj Road Company, 70 give
preference 10 the transportation Of al produce
and commodities brought 10 their Rail aasd, a
70 occasi1n 90 delay thereof: aud u the said Com
pany SHAH refuse II neglect to transport Tic SAID
produce and oiher commodities, as required b, this
section, The said Company shall be liable 70 the per-
son or persons aggrieyed Tor any damage Or inlu.
n which mas result for such refusal OF neglect
TO b. recovered before any Court Of Record having
cOgnizance thereof
Read three times and ratified in General Assem-
bly,, this, the 9th DAY Of J4unaty. 4. D.. l~.s7
WI II. HAYWOOD, = sC
HUGH WADDELL. IS