The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1849-05-25
80.

and oil subsequent, assigDees shall b6 liable
q 10 The company, and the same may be re-
. covered as aboye described.
J Sec. 81. That the deb, Of siockho' ders,
, due 10 the company for stock therein, eli.
Their as original proprietor or the firs, or
subsequent assignee, shall be considered as
Of cqlal dignity with Judgments in tho
distribution OF assets Of deceased s,ockhol.
der. by his legal Representatives.
Sec. o. That said company shall is
sue certificates of stock to its meiubcfs /;
aud SAID stock may be transferred in such
manner and form as may be directed by
The bylaws of The company.
Sec. %. Tba, the said company may,
al any lime, increase its capital to o sum
sufficient 10 complete said Road, not ex-
ceedDg dollars, either by
opening books for new stock or by selling
such new stock, or BY borrowing money
on the credit OF the company, and on the
mortgage + its charter and works; and
The manner in which the sumo shall be
done IN either case, shall be prescribed by
The stockholders al a general meeting.
Sec. "a. Tha, the board Of directors
shall once in every year, o, least, make a
full report on the stale of the company,
ard lis affairs TO a general meeting Of the
stockholders, and oltener if required by
bylaw, and shall have power to call gen.
eral meeting of the stockholders, when the
board may deem /, expedlen,; and tho
company may provide, 10 their bylaws.
for occasional meetings being called, aud
prescribe the mode thereof
Sec. %. That the said company may
purchase, have and hold, 10 fee, or for q
term Of years, any land, ,enemen,s, or
hereditaments, which may be necessary
for the said Road or the appurlenances
thereof, or ioi the erection of repositories,
store houses, houses for The officers, ser.
wants or agents Of The company, or for
work shops or boundaries, TO be used for
he said company; or for procuring stone
or other materials necessary to the con.
struction of the Road, or for effeoiiag
transportation thereon, and for no other
purposes whatever.
Sec. &c. That the company shall have
the right, when necessary, to conduc. the
said road across or along any public road
or water course : Prorided, That the said
company shall no, obstruc, any public
road, without constructing another equally
as good and convenient, nor without max.
ing draw in any bridge of said road,
which may cross navigabIe stream, suffi.
Gent for Ibe passage OF vessels navigating
such stream, which draw shall DO opened
by the company for the free passage Of
vessels, navigating such stream.
Sec. ~. That when any lands or right
Of way may be required by said company,
for the purpose of constructing their road,
aud for the want OF agreement as to the
value thereof, or from any other cause, the
same canno, be purchased from the owner
or owners, the same may be taken at a
10 be made by five commission.
ers, or a majority Of them, TO be appointed
by any court of record, having common
law jurisdiction in the county where some
pari Of the land or righ. of way is situated.
In making tho said valuation, the said
shall take into consideration
the loss or damage which may accrue to
the owner or owners IN consequence of the
land or the right Of way being surren.
dered, and the benefit and advantage he,
she or they may receive from the erection
or establishment OF the rail road or work,
and shall state particularly the value aud
amour, of each and the excess of loss and
over and above the advantage and
benefit, shall from the measure of valuation
oil the said land or right Of way: Provided,
tina, if any persons over whose
land the road may pass, should be dissatis.
fed with tho valuation of said Commits.
sioners, then, and in that case, that the
person or persons so dissatisfied may have
an appeal 10 the Superior Court, in the
county where The said valuation has been
made, or IN either county in which the
land lies, when it may lie In more than
one county, under the same rules, regula.
lloLs and restrictions as in appeals from
judgments Of Justices of the peace. The
proceedings OF the said commissioners &C.
with full description of the
SAID land or rgh, Of way, shall be returned,
under the hands and seals Of majority Of
the commissioners, 10 the court from which
the commission issued, there to remain a
matter Of record. And the lands or right
of way so valued by said commissioners,
shall yes, in the said company so long 40
the same shall be used for the purpose Of
said rail road, so soon as the valuation may
be paid, or, when refused, may have been
rendered: Prorided, that on application for
the appointment O! commissioners, under
this section, it shall be made to appear to
the satisfaction OF the court, that at least
ten days previous notice has been given by
the applicant 10 the owner or owners Of
land SO proposed to be condemned, or, If
the owner or owners be infants OF non com.
pos mentis, then to the guardian Of such
owner or owners, if such guardian can be
found within the county, or il he cannot be
SO found, then such appointments shall not
be made unless notice ofthe application shall
have been published, at least one month
next preceding, in come newspaper printed
as convenient as may be TO the court house
Of the county, and shall have been posted
at the door OF the court house, on the first