The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-03-17
AN ACT
10 incorporate the cape fear Yadkin and Pedee
Rail Road Company.

~ /" tHoCttu W tf bfHeTdt Assembly, OF me
State q North Carolina and IT is hereby enacted
by the authority Of the same, That Hugh Camp
bell, SEN, Hiram Robinson, JOHN Kelly, William
Mott, John II. Hall, Louis d. Henry, Robert
Strange, Banjsmin Robinson. Lewis Brown, John
w. SANFORD, Joshua ". Cochran, Thomas Nash
Cameron, Edward J.. Winsiow, Joseph Baker.
b. W Vikings, John Huske, Duncan McRae. Jo-
seph Arey, jeremiah Kyle. James Seaweil, Charles
7. Naei, Oliver L. Stark, Thos l.. Hybari, Peter
Mcclellan, LauchlIn Bethune, JOSIAH Evans. Chas
McAllister, John b. Kelly, John Morrison, Ed.
mund Deberry John Martin, Duncan McRae, Jr
Hardy Morgan. Paul Barringer, Abram Z. Alex
ander, Joseph Young, Thomas l.. Cowan, Robert
MaeDamara, Maxwell Chambers, Alexander Gray,
William Hogan, Benjamin Elliott Gideon Sea-
we'll, Alexander Little, 'ohn a. McRae Samuel +.
Patterson, Edmund Jones, James Weborr, Jones
Fuller, James Kyle, John VI. Strong, William l..
Hawley, Williamson Whitehead, John d. Eccles,
the. associates, successors, and assigns, be, and
they are hereby made body polite and corpo
rate, under the name of " the Cape Fear, Yadkn
and Pedee Rail Rosd Company" and by that name
shall be, and are hereby made capable in aw TO
sue apd be sued TO final judgment and execution,
plead and be impesded, defend and DO defend
ed. in any Coun of record Of this State, or in any
other place whatsoever; 10 make, have and use a
1t pleasure and in said name shall have success.
sion, ami shall be- and are hereby vested With all
the powers, privileges and immunllies which are
or may be necessary TO carry into effect the pur.
poses and objects of this act, as hereinafter set
forth and the said corporation are hereby author
izcd and empowered 10 create, construct and final
/ y complete Rail Road, beginning at the River
Care Fear, in Fayetteville. and thence to the sum-
mt OF the NaTrows Of the Nsokin River. IN line
leading IN direction to the tow oI Wilkes Ooro';
also lateral Raj Road connecting said road from
Fayetteville, 10 the Yadkin with the Pedce at The
mouth of Rocky River, and thence to penetrate
Neckienbu.g and Lincoln counties s.so one 9TH
+ er lateral railway embracing Ashboro0gh, IN Ran
/ coiph county, IN such manner aad form as said
corporation author to Law out SAID roads at
least sixty five feet VIDE, through the whole length
thereof; aud lar the purpose OF cuttings, embark
meats and obtaining stone and gravel, may take
as much more land as may be necessary .Ur the
construction and security OF said roads: prorided
h0ntrsr, that all damages that may be occasIoned
10 any person or persons, or corporations, b. the
taking Of such lands material 10, the pur poses
aforesaid, shall be paid ior by said corporation in
manner hereafter provided.
/ p BE 1T further enacted That the capital stock
Of said corporation shall consist Of ten thousand
J
vernment and direction of the affairs OF said cor
| porstiun shall be sested in seven Directors, who
shall be elected by The stockholders OF said curpo.
| ration, Ia manner hereafter provided sho shall
hold their Offices for year, and until Others
shall be duly elected and qushfed to take Their
! plsves as directors and the SAID directors, ma
/ putty OF whom shall Orm quorum for the trans
/ acton OF business, shall elect one of their
number 10 be- President OF the board WHO shall at
50 be President of the corporation and said d.
rsciors shall have authority 10 choose a clerk, who
shall be 10 the faithful discharge Of his du-
"; aud Treasurer, no shall GIVE bond 70 The
corporation with security 10 The satisfaction of the
/ Direciots, IN a sum no, lesss than twenty thou
sand dollars, ior the faithful discharge oihls trust,
and shall also se aud subscribe IA oath OF Once.
3. Be- II farther enacted, That the President and
Directors Tor the tiuu, bsiag hereby authorized
and empowered, by themselves their agents, 10
exercise all the powers herein granted tC the cor
porauon, Tor the purpose OF locating, constructing
and completing SAID Rail Roads, aud all such oth-
CT powers aud authority for the ett,c,usl ptosecu-
ton OF the Undertaking hereby intended to be et-
! iected, and for The management Q. the afalIs OF
the corporation not heretofore granted, may be
necessary aud proper 10 carry INTO effect the OBJ
lrct OF this grant 10 purehase ana hold lands, ma.
the corporation, tor the OF SAID roads to make
| such eqaal assessments from time 10 time, all
the shares IN said corpora ion, as they may deem
expedlent and necessary in the progress and exc
cutlon OF the WORK, and direct the same TO be paid
to the treasurer OF the corporation, and to require
tine treasurer TO give notice Of such assessments
/ and In case any subscriber or stakeholder shall
neglect 10 pay his assessment Tor the space of thir
ty DAYS alter due notice by the tasurer as aioTe-
said the directors may order the treasurer to sell
such share or shares at auction, at some public
place, after GIVING at least ten days public notice
oi such sale, and the day and place at which said
sale shall take place and the person beng tue
highest bidder for such share or shares, Is hereby
declared TO be the proper owner thereof. and the
same shall be transferred accordingly; and such
delinquent subscriber stakeholder shall be hol.
den accountable 10 the corporation COR the balance
II his share or shares shall sell for less than the
assessment due thereon, WITH interests and costs
OF sale, and shall be entitled TO the oyerplus, If the
same shall sell for more than the assessment, in
terest aud costs Of sale as aforesaid froeidsd,
that no assessment shall be made or laid on any
share exceeding the whole amount Of such share
or shares.
4 BE IL further enacted, That the said corpora.
rsien shall have power aud authority 10 make, Or
dam and establish all such bye laws, rules and
regulations and ordinances, as they shall deem ex.
pedeat and necessary, to accomplish the desi gns
and purposes, and TO carry into effect the provis-
ions OF this act, and for the we'll ordering, regu.
lating and securing the interest and aiaIrs OF this
corporalion;' frerided alreoys the same SHALL not
10 any wise be Repayment to the laws aud Const
tuition OF this STATE.
). BE il further enacted That toll be, ard is
hereby granted and established for the sole bene-
fit of said corporation on all passengers and prop
crty OF any description, which may be conveyed
or transported upon said RAD Roads at such rates
per mile, and by the ton or hundred, as may be a