The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1849-05-25

Sec. 8. That the affairs Of the comp
ny shall be managed and directed by
e general board, to consist Of twelve dlret
/ tors, 10 be elected by The directors ftor
e among iaer number, in such manner q
o The regulations Of The company shall pre-
E scribe.
E Sec. TO- Thu. the election of the d
/ ,ectors shall be by ballot, each stockholde
having q, many votes az BIO has shares il
the stock OF ssId company and perso
, having majority Of all the votes pole
, shall be considered as duly elected.
Sec. IL. That tho President Of th
Company shall be elected by The director
from among heir number IN such man
ner as the regulations Of the COMPANY
shall prescribe.
Sec. -. That ni the fret general meet
ing Of the stockholders, directed to be calico
under secllcn SIh of this Act, majority o.
all he shares subser bed SHALL be tepreseu.
led before proceeding TO business, and If a
sufficient Number do no! appear on the day
appointed, those who do attend shall have
power to adjourn from time to time until a
regular meeting snail be thus formed; AID
al such meeting the stockholders may pro.
vide, by a bylaw, as TO the number OF
stockholders ard the amour: Of stock 10 be
held by them, which shal! constitute quo
RIA for tTanssciing business al oil eutse.
qaent regular or occasional meetings Of
/ Stockholders and Directors.
Sec. 10. That at all elections, and upon
all votes taken in eny general meeting Of
the stockholders upon any bylaw or any
Of the affairs Of said company, each share
OF stock shall be entitled TO one vote, and
that any stockhoder in said company nay
vote by proxy; and proxies may be verified
in such manner as the stockholders by by.
laws may prescribe.
Sec. Ia. That the general commission.
eis shall make their return of the shares
Of stock subscribed for, a, The first general
meeting Of stockholders, and pay over to
the directors elected at said meeting, or
their authorized agent, ell sums Of money
received from Subscribers, and for failure
therefore, shall be personally liable TO said
company, to be recovered at the suit of said
company, in any Of the Superior Courta Of
law IN this State, wthin the county where
such delinquent or delInquen,s may reside,
and in like manner the said delinquent or
dellnquenls' executors or administrators, III
case OF his or their death.
See. 10. That the board OF directors
may Fl all vacancies which may occur in
Il during the period for which they have
been elected, and in The absence Of the Pre-
sdent may fill bis place by elcctins Pre-.
sden. Pro tempore from among their mum.
Der.
Sec. 16. That all contracts or agree
ments, authenticated by The President and
Secretary Of directors. shall be binding on
the company, wiIhou, seal, or such
mode Of autaentcation may be used, as
the company, BY their bylaws, may adopt.
Sec. II. That the company shall have
power and may proceed to construct, &c
speedily as possible, a rail road, with one
or more tracks, to be used with steam pow
err, which shall extend from the Whining
ton and Raleigh Rail Road, where the
same passes over Neuse River, IN the
county of Wayne, ria Raleigh aud Sails.
bury, 10 the town Of Charlotte, IN Neck
lenburg county.i said company may use
any section of tho rail road constructed BY
hem before the whole of said road shall be
completed.
Sec. Is. Tha, the said company shall
have The exclusive right of convey ance or
transportation Of persons, goods, merchan
disc and produce over the said rail road, 10
be by them constructed, at such charges as
may be fixed on BY m5lprlly of the DI.
tectors.
Sec. 10. Tina; the said company may,
when they see fl, farm out their right Of
transportation over SAID rail road, subject
TO the rules above mentioned; and said
company aud every person who may have
received from them the right of ,ransporta
ton of goods, wares and produce on the
said reil read, shall BE- deemed and taken to
be common carrier, as respects all goods,
wares, produce aud merchandise entrusted
10 them for transportation.
Sec. 90. That the board of directors
may call for tho payment Of the sums SUD
scribed as stock IN said company IN such
instruments as the interest OF said compa.
ny may, in their opinion, require: the call
for each payment shall be published in one
or more newspapers in this State for the
space Of one month before the day of pay
ment; aud on failure Of any stakeholder TO
pay each instalment as thus required, the
directors may sell a, public auction, on
previous notice Of ten days, for cash, all
the stock Subscribed for in SAID company,
by such stakeholder, and convey the same
TO the purchaser at said sale; and if said
sale Of stock do not produce cum sutii.
Glen, TO pay OF the incidental expenses of
the sale, and the entire amount owing by
such stockholders TO the company for
such subscription of stock, then 10 that
case the whole Of such balance shall be
held and taken as due a, ouce 10 the CON.
pany. and mey be recovered of such stock
holder or his executors, administrators or
assigns, at the sui, of SAID company, either
by summary motion in any court OF supe.
lior jurisdiction in the county where the
delinquent resides, on previous notice OF
ten days TO said subscriber, or by the &C