The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-21

ii
| railroad, and Incorporating the purchasers thereof
by the name OF the Seaboard and Portsmouth,
railroad. H....
Passed February n, 1851
l. BE u enacted, That so soon as the stock.
holders OF the Portsmouth and Roanoke Rail
| road Company, or a majority thereof In
any general meeting or special meeting convened
for such purpose shall give their assent to a
sale of the Portsmouth and Roanoke rail.
road, under the mortgages and on the terms and
conditions hereinafter set FORTH the president and d.
rectors of the board Of public works shall sell all the
estate property, and effects, of every nature and
kind whatsoever, and wheresoeyer situated or be
log, embraced BY the mortgages executed by the
Portsmouth and Roanoke Railroad 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 sec.
ond dated the fourteenth day OF October, eighteen
hundred and thlry-nine, recorded IN The county
court Of Halifax, in the Stale Of North Carollna,
together with all the fTanchlses, rights, privileges
and mmunitles, belonging or aPpertalnng TO the
Portsmouth and Roanoke Railroad Company, as
well in Virginia in North Carolina, upon the FOL.
lowing terms: The sale TO be at public auction, be-
fore the courthouse 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 president and directors Of
the board Of public works, for the proceeds, payu.
bic IN six equal annual instruments. The purchaser
ipsO Jaels by the purchase, shall becomes body poic
and corporate, by the name and style Of "The Sea.
board and Roanoke Railroad Company" and shall
hold, use, enjoy, and employ the road, and all the
other properly and effects Of every nature and kind
as aforesaid, Of the present company, with all the
franchises, rights, privilege, and immuntes grant.
ed 10 and conferred upon Il, at any time heretofore
| by this State and the State Of North Carolina in "A
ample manner as the Legislature Of this = ate can
transfer them, subject in all respects, and in every
thing, TO all the duties, regulations, and penalties re-
quired, prescribed and enjoyed by any law or laws
now in force respecting the present company, and
subject 10 the provisions Of the act of the general
asse mbly, entitled "An act prescribing certain gen.
ea regulations for the Incorporation Of railroad CON-
panies," passed March eleventh, eighteen hundred
and thirty-seven. The said sale to be subject 10 ali
mortgages and deeds Of trust executed by the
Portsmouth and Roanoke Railroad Company, and
the claims Of any other creditors legally entitled 10
priority over the mortgages aforesaid, to the preaL
dent and directors Of the board Of public works
| aforesaid.
2 That the nett proceeds Of said sale shall be ar.
piled under the direction Of the superior court Of
chancery for the Richmond circuit, IN the suit nov
pending in said court between Francis T.. Ryes and
the board Of public works and others, according 70
the legal priorites Of the claims Of the board Of
public works under the said mortgages Of May The
Der the fourteenth, eighteen hundred and thirty.
nine, and Of the claims Of any other creditors Of The
! Portsmouth and Roanoke railroad company who
shall in said suit establish their right TO priority
over the said claim Of the board Of public works
And If any suit or suits in chancery be now pend.
ing, or shall be hereafter brought in any Of the
other circuit superior courts Of law and chancey,
| or IN any OF the county courts OF this Common
wealth, against the Portsmouth and Roanoke rail-
road company, in which the president and directors
l.Fsk - - IL. l..
eessary party, the same shall be transferred by the
court in which such suit may be pending 10 the su-
penor court OF chancery for the Richmond circuit
to be there proceeded in and decided Provided hoo.
epu, That any party TO any such suit suits, who
may think himself or themselves aggreved by any
decree Of said court, shall be entitled TO apply for
and If proper, to obtain supersedsas from the court
OF appeals TO such decree, precisely as In any other
case decided by the said circuit superior court Of
ehancery for the Richmond circuit. .. .a.g
| g. The corporate existence OF the Portsmouth,
and Roanoke railroad company, notwithstanding
any sale that may be made under this act shall Be
continued so far az Il may be necessary in its name
TO conduct, to institute and carry on any sut or
suits to It's or their fpal completion and salisac-
ton. "
T. Be u further enacted, That the sale of said road
shall be made by the board Of public works in al
respects, mot hereinbefore provided for) as provd
ca in the general law passed the eighteenth day Of
March, eighteen hundred and forty-one and the
said board shall bid for the road such price as they
shall think the value thereof. as o1 rana,
B. BE u further enacted That if at the sale of san
Portsmouth and Roanoke railroad, or at any time
thereafter the state Of North Carolina or any com
pany incorporated in said state for purposes of in
ternal improvement, shall become the owner, either
directly or by agent or otherwise of the said Ports
mouth and Roanoke railroad, hereby authorized to
be sold, or of the said Seaboard and Roanoke rail
road, the general assembly of Virginia hereby re.
serves the right, by special act Of legislature or
otherwise, to revoke all the powers privileges and
Immunities to be conveyed by the sale of said road
and to declare the same null and void.
| G. BE it further enacted That it shall be the 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 railroad be-
tween Weldon and Portsmouth, and between Wei
don and Petersburg as to prevent an injurious COM
petition by reducing the fare or by either Of the
said roads, either by direct levying of such fare or
by any combination or arrangement with any other
railroad or stage line, or with any line of steam
boats on the Chesapeake Bay, for such reduction Of
fare; and In reference to the fact of such combine
ton, or any injurious reduction of fare as aforesaid
the board of public works shall be the sole Judge;
and their order shall be obligatory on either or both
OF the said companies: Provided, The stockholders
of the Petersburg Railroad company, in general
meeting, agree to this section.
| T. BE further enacted That in case the author.
tiles Of the State of North Carolina shall at any
time, by legal process otherwise deprive the Pc
;ersburg Railroad company of any of the privileges
and advantages of its charter obtained from thai
State, by any act heretofore done, or omitted be
done, by the said Petersburg Railroad company, or
by any means whatsoever prevent the aforesaid Pc
tersburg Railroad company from conducting their
operations on so much Of their railroad as lies with
in the State of North Carolina, or OH any part \
thereof, by reason of any act heretofore DONE or
omitted to be done, by the Petersburg Railroad B
company, then all the rights, privileges and immu-
mites hereby granted to the aforesaid Seaboard and
Roanoke Railroad Company shall cease and be de-
termincd until the State of North Carolina shall re-
lnsate the Petersburg Railroad Company in all the
privileges granted them in the several acts passed
for their benefit by the said State, or until the legs
lature of Virginia shall otherwise direct Provided,
hocepe, That this section shall not be in force
til the Petersburg Railroad Company shall agree to
the third section Of this act, which confers on the
board OF public works the power SO to regulate,
| from me- IN he g.,