The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1846-03-07


sale Of the Portsmouth and Roanoke Rail Road
Company, under the mortgages and on the terms
and conditions hereinafter set forth, the President
and Directors of the Board of Public Works shall
sell all the estate, property and effects, of every
nature and kind, whatsoever, and wheresoever
situated, or being. embraced by the mortgages ex-
ecuted by the Portsmouth and Roanoke Rail Road
Company. to the President and Directors of the
Board OF Public Works aforesaid the first dated
the fourth day of May. eighteen hundred and
thirty eight, recorded in the Clerks Office of
Norfolk County Court, and the second dated the
fourteenth day of October, eighteen hundred and
thirty mine. recorded in the County Court of Hall
fax, in the State of North Carolina, together with
all the franchises privileges, and immuniies be-
longing or appertanng to the Portsmouth and
l. noke Rail Road Company, as well in Vir-
glnia, as in North Carolina, upon the following
terms: The sale to be at public auction. before
the Cour House of Norfolk County, in the Town
OF Portsmouth, after sixty days notice of the time
and place by advertisement in such newspapers
as the President and Directors of the Board of
Public Works, may select, the purchasers to give
bonds with approved security, TO the Presiden,
and Directors of the Board of Public Works for
the proceeds, payable in six equal annual install
mens. The purchasers, ipSo fdcto by the pur-
chase shall become body polite and corporate
by the name and style of "The Sea Board and
Roanoke Rail Road Company" and shall hold,
use, enjoy and employ the Road and all the other
property and effects of every nature and kind as
aforesaid, of the present company, with all the
franchises, rights, privileges and lmmunties
granted to and conferred upon it at any time
heretofore, by this State and the State Of North
Carolina, in ample manner, as the Legisla-
ture of this State can tranfer them, subject in all
respects and in every thing to all the duties regu-
lations and penalties required, prescribed and en-
joined by any law or laws now in force, respect.
ing the present Company, and subject to the pro-
visions of the Act of the General Assembly. enti-
tied " An Act prescribing certain general regula-
Ii ons for the incorporation of Rail Road Compa-
Mes" passed March eleventh, eighteen hundred
and thirty seven. The said sale TO be subject to
all mortgages and deeds of trust executed by the
Portsmouth and Roanoke Rail Road Company
and the claims of any other creditors legally emit
tied to priority the mortgages aforesad the
President and Directors of the Beard of Public
Works aforesaid.
SECTION Cd That the nett proceeds of the
said sale shall be applied, under the direction of
the Superior Court of Chancery, for the Richmond
CT rcuit, in the suit now pending in said Court,
between Francis E. Rives and the Board of Pub-
lie Works, and others, according to the legal
priorites of the claims of the Board of Public
Works, under the said mortgages of May the
fourth eighteen hundred and thirty eight, and
O':tober the fourteenth, eighteen hundred thirty
nj ne. and of the claims of any other creditors of
the Portsmouth and Roanoke Rail Road Compa-
ny, who shall, in said suit, establish their right
TO priority the said claim of the Board Of
Public Works. And if any suit or suits in Chan
Gerry he now pending, or shall be hereafter brought
in any Of the other Circuit Superior Courts of
Law and Chancery, or in any of the County
Courts of this Commonwealth, against the Ports
month and Roanoke Rail Road Company, in
which the President and Directors of the Board
Of Public Works, are, or may be, necessary par
ty, the same shall be transferred by the Court in
which such suit may be pending, to the Superior
Court of Chancery for the Richmond Circuit, to
be there proceeded in and decided Provided,
hO,reUer, That any party to any sach suit or
suits, who may think himself or themselves, ag-
grieved by any decree of said Court, shall be en-
titled to apply for and if proper to obtain super
sedcaS from the Court of Appeals to such decree
precisely as in any other decided by the said
Circuit Superior Court of ChaRcery for the Rich
mond Circuit.
The corporate existence of the Portsmouth and
Roanoke Rail Road Company, notwithstanding
| any sale that may be made under this Act, shall
be continued SO far as it may be necessary in its
name TO conduct. or to institute and carry on, any
suit or suits to its their final completion anC
| satisfaction.
dc u JWHer enacted, mat the sale OF SAID
Road shall be made by the Board of Public Work.
in all respects (not herenbefore provided for) as
provided in the general Law passed the eighteenth
| day Of March, eighteen hundred and forty -one
and the said Board shall bid for the Road suct
price as they shall think the value thereof.
BE II further enacted, That if at the sale o
said Portsmouth and Roanoke Rail Road, OF
any time thereafter, the State of North Carolina
or any company incorporated in said State for pur
! poses Of internal improvement, shall become tn,
owner, either directly, or by agent or o,herwis,
of the Portsmouth and Roanoke Rail Road, here
by authorized be sold, or of the said Sea Boarc
and Roanoke Rail Road, the General Assembl,
of Virginia hereby reserves the right by specia
act of Legislature or otherwise, to revoke all tn,
powers, privileges and mmunites to be conveyed
by the sale of said Road, and to declare the sam,
to be null and void.
i Be it further enacted, That it shall be tn
duty of the Board of Public Works Of Virginia
and they are hereby required so to regulate, from
time to time, the fare for passengers on each Raj
Road between Weldon and Portsmouth, and be
tween Weldon and Petersburg, to prevent a
injurious competition by reducing the fare OF o
by either of the said Roads, either by direct lie
vying Of such fare, or by any combination, or ar
rangement, with any other Rail Road or Stag
line, or with any line of Steam Boats on tn