Cheraw gazette and Pee Dee farmer. [volume] (Cheraw S.C.) 1838-1839, 1839-02-27

ucI!t uuu IL SttiS' VI wy
auv time be removed, and the vacancy
tn, reby occas;oncd, be filled bya majority
of vot:s given at any general meeting.
The prcs;dcn', v iill any three or more OF
the Directors, or in the event OF The SEX.
ness, absence or inability Of the PRESIDENT
anv four or more of the Directors, who
shsll anpoint one of their own body Pres.
80, lem, shall constitute "A board for
iTasIaesiap Of business. In the case
of fysssucy f6ebe office or President or any
Director ins from death, resignation
removal or disability, such vacancy may
tc supplied by The appointment oflhe Board
until The next annual meeting.
Sec. s. The President and Directors Of
said Company, shall be, and they are hero
by inves ed with all The rights and powers
necessary for the construction, repair and
| maintaining Ola Rail Road 10 be located
as aforesaid, with as many sets Of tracks
as they, or minority OF them may de en-
necessary, and may cause to be made ; and
also 10 make and cons,ruc, all works what.
socvcr. Which may be necessary and ex.
pedient, in order to the proper completion
Of said Rlil Road.
SEC. 9. The President and Directors
shall ave power to make conracs with
any person or persons, on behalf of the said
Company, for making The said Rail RoaJ,
AMI performing all other works respecting
the same, which they shall Judge necessary
AMI proper, and to require from the su5scrl.
bers, from time 10 time, such advances Of
money on their respective shares, as the
wants the Company may demand, until
the whole of their subscriptions shall be
advanced to cali, on any emergency, a
general meeting of the subscribers, giving
one months no'ice thereof, in one of the
newspapers printed IN the towns Of Colum-
bia, Camden or Chcraw; to appoint Trea-
surer, Clerk, or such other officers as they
may require to transact all the business OF
the Company, during the intervals between
the general m etngs Of the stockholders.
Sec. 10. If any stockholder shall fail
to pay the sum required of him by the
President and Directors, or by majority
ofhem, within one month after the same
shall have been advertised in one Of the
newspapers published IN The towns Of Col
umbIa, Camden or Cheraw, it shall and
may be awful for the President and DIrec.
,orS, or majority OF them, 10 sell at public
auction, AMI 20 convey TO the purchaser, the
share or shares ofsuch S;ockholder so fal'.
ing or refusing, giving one months prev
Ious notice Of The time and place Of sale in
manner aforesaid and after retaining lh
sum due, and al o;iler charges ofthe sale,
out ofthc proceeds thereof, TO pay the sur.
p US over to the former owLer, or his legal
representative.
Sc. IL. Be 1t further enacted, That if
the capital stock Of the Company hereby
incorpora ell. shall be found insufficient for
the purpose of this Act, it shall and may be
iaNf'I for the Presiden and Directors of
tie Compan., al mljo,iy of them, from
! line % lime to Increase The sail capita!
stock 20 an amount no exceeding three NIL
ions Of dollars, by the al iltion ot as many
shares as they may deem necsssary-frs'
giving the individual stockholders for the
iIne, or her legal repres natives, the op-
ton of taking such additional shares. in pro.
portion 10 The amount ofs,ock respectively
held BY them, and opening books in the
town Of Columbia. and such other places
as the President and Directors may think
proper, for any balance Of the said capital
stock created which may not be taken by
the stock holders for the tim being, or in
Their behalf; and the subscribers for such
additional shares Of the capital stock OF the
sad Company. are hereby decl'red to be
lhencelorth incorporated into the SAID Com.
pany, with all the privileges and advantages,
and subjc CT to alllhe liabilities Of ,he orig gnal
stockholders.
SEC. II. Be ii further enacted, That the
President and Directors, or majority OF
them, shall have power 10 borrow money
for the objects of this Act to issue cerllfi-
Gates or other evidences of such loans, and
TO make The same convertible into the stock
of the Company, at the pleasure OF the
holder; Provided, that the cap tai Shall not
thereby be increased to al amount exceed
three millions of dollars and 10 pledge tho
property 'the Company for the payment
of the same with its interest Provided, that
no certificate OF loan convertible into sock,
or creating any lien or mortgage on the pro-
pertv of The Company shall be issued by
the President an Directors, unless the eX.
pcdiancy Of making loan on such terms'
and of ISSUING such certificates, shall have
frs, been determined on, at a general meet.
ing Of the stockholders, by two'lhIrds OF
The votes which could be legally given III
favor Of the same.
SEC. IS. Be 1t further, eaocied, That
The sud President and Directors, thel' oit.
GERS, agents and servants shall have full
power and authority to enter upon all lands
and ienen,en.s lhrouph which thcY may de.