The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1847-02-17

q MI. Tint 8 any siockliol.icf shaII ffail
10 pay the instalment required @Iof nj n. on IN
his st'nredr shares, BY lie Presid ent'nanj Dil
rect"rs, ore najo'ity of them, With, oi1 oie
month after The same shall be Il, ai yers
.,se,' ' g, in one or More Dewspapets published
lnsNortti Carolina aDd in ss0i.i,. (:aroIina. II
shall nnd hrny be lawful for The Y PressiideG,t
ana ana Diirecinrs,'or a majdrity or them, 10
sal' al public Z. luton, and convey o lie plf.
4 shasfr' as 'he share 0b shares Of sucf stuck. !.
holders SO fniling 0r refusing, giving twin
! " day siolicc ofihe lime and pidca Sfss6le.
and fter retaining the sun, daiie, a1,i ilafliile
sasincidenttot tl,e sale, omt of The pTo.i
ceeds, shall pay The surplus to- ;tlia former,
owner, orEhisl slisgal REPRESENTATIVES,, q il g..
signees; and any purchaser of tie stoek#nf
me company under the sale by the Prasi.i
dent and Directors, as afpresaitl, shall he
suhJeeitnt! the same rules and regulations
as the original n.oprietar. and mo .saI q by,
the original proprietoriof;stock, or assign
ees, shall release ylhe orginaI proprietor,
from his obligalion3to the company. To- ,,a =
HE whole amount Of his subscription. Aml;
IN addition to ibe foregoing remedy The,
President and Directors may proceri by
action of assnmpsit "r debt, in any nf The
courts If law ofthe Sintest of North. and.
south Carolin". Tor the e:recovery Of The in.
sia'menIs due and not paid any delinquent
stocRh"lder. or his nssignee.jwho noi shall.
pay the same, oh requisilion mnde in man.
ncr antl form as aforesaid, in which said
actions the defendant shall not be entitled
10 an imPar!ance, but the same shall be,
dockei,ed aud tried ut the first Term OF lie
court after the commencement thereuf.
PToDtded. that in cases where the Presi.
dent and Directors shall proce ed by action
against the original proprietors, and his
assign or assignecs at the same time, they
shall not collect from them more than the
sum due on The shares in regard 10 which
| there has been default. 81
XIII That if the capital stock of the
company shall be found INSULT len, fnr the
purposes f"r which sal Company is form
ed or Incorporated, il shall and NAV be law.
full fur said company, at some gene al meet.
ing. by n vote Of The slnckhoIte, $, from
time to Time 10 increase The said capital
stock, to an amount not exceeding three
millions of dollars. by The, addition of as
many shares as may be necessary for that
purpose. And the President md Dircc,ors g
shall first give, the intli1idual stockholders
fur the time. or their leeal representatives.
the opli"n of,aking sucl, utIdi,ionul shares.
""i "a" upP"' 'sinnrnans. if ~, .l,.ll
be made among them. And If such nd.li.
tiunal shares shall MOI be taken by The stack.
holders. the President and Directors shall
cause books I" he opened under the direc-
ton Of commissioners. to be appointed by
them at such time and place MS they slall
designate, which time aud place shnll'be
duly advertised fer subscriptions for said
additional shares. Of SD much thereof as
may not he taken by the said indivi,:r,al
Stockholders, rs aforesaid, and the subscril,.
ers for such adtlilinnai shares are hereby
declared 10 be ilIeEcefnrward rporal ted
Into the said company, with all the privile.
; teers nnd advantages. and subject tn all The
linhili.ies of the original stnckholters.
;, xiv. Be Hfurther enacted, Thet The
President aud Directors. or a majority al
them, sl,nll have power to borrow money
fur The objects oi this Act; To issue certifi
Gates or other evidences Of sucl, loans, aud
1" make the same convertible intu the st ock
Of The company, at The pleasure nf The hold.
: er: Provided. that the capital shall nul
; thereby be increased 10 an amount exceed.
ing three millions of dollars: and 10 pledge
The property oi The company Tor the pay.
: rncnt al the same. with interest. Propi
dcd, that no certificate of loan, convertible
: into stock, or creating any lien or mort
guge on the property ofthe company, sh al
. he issued by the President aud Directors
unless the cXpedency nf making loan, o.:
. such terms, and ofissuing such certificates
f. shall have first been determined on, at q
: general meeting If the stockholders, b,
/. two.thir'ls Of the votes which could be lc
gally given in favor ofthe same.
] XIV. he IL further enacted. That III.
Y soid President and Directors. their officers
agents and servants. shall full power ant
j authority 10 enter upon all lands aud ,ene
] ments. through which they desire to con
due. their Rail Road. and 10 lay out tn,
G same according to their pleasure, so ,ha
: the dwelling house, yard. garden or grave
e yard Of no person be invaded. wilhnu, hi
!, consent, md TINT they shall have power t,
= enter in and lay out such contiguous land
F, as they may desire Ia occupy. as sites 70
i ,lepositrs, toll houses, warehouses, engin
G sheds, workshops, water stations. and 9th
u er buildings, fur the necessary accommo
]. slalion If their officers. gents and servants
G their horses, mules, and other cattle, an
], for the protection %! the property cntrus
j. ,td TO their care: Propided howepcr, tha
!, the land SO laid out on the line ufthe RAJ
3, Road, shall not exceed, except at deep Gu,
n and filings. one hundred and twenty fst
il III width, and al such deep cuts aud filing,
d shall not exceed II width sufficient for III
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