North Carolina standard., 1851-03-01
shall be formed.

f Nor,h Carolina shall be entitled to three d irectors
in said company, be annually appointed by the
BOARD of Internal Improvement; and at the first
meeting of said company and annually thereafter, the
said individual stockholders shall have power and
authorv to elect four directors, who, with the dec-
tors on The parts of the State, shall have power to
elect President out of their own body, to manage
the affairs of the said company, and who shall
continue in Office until their successors shall have been
elected The President, with any three or more OF
the directors in the absence of the President, any
four of the Directors, who shall appoint of their
own BODY President pro em., shall constitute board
for the transaction of business. In of vacancy
in the Office of President any Director from death,
resignation otherwise such vacancy shall be sup
piled by appointment of the board, until the next an
nual meeting.
| SEC. 6. BE IL enacted. That the said Presi-
dent and Directors shall have full power and author
itv to contract for all works which may be necessary
and expedent, and TO make contracts with any person
or on behalf of the said company, for construct
ing the said road, aud performing all other works
which from time time may be necessary for the prop
er completion and repairs of the said road to require
from the individual subscribers, from time to tme
such advances of money tiee respective shares as
the of the company may demand until the whole
of their Subscriptions shall be advanced if the whole
shall be found necessary; to call any emergency
a general meeting of the stockholders, giving one
month previous notice thereof in or more news
papers; 10 appoint treasurer clerk, and sucn otner
officers as they may require and generally to trans
all the necessary business of the company, during
the intervals between the general meetings OF the
Company.
SEC. T. Be it enacted, That if any stockhold-
er shall fail to pay the required OF him by the
President and Directors, within month after the
same shall have been advertised in or more con-
venient newspapers it shall and may be lawful for
the said President and Directors sell at public auc-
ton and convey purchaser the share shares
of such stockholder failing. giving one months
previous notice of the time and place of sale in man
ner aforesaid and after retaining the sum due and
charges of sale out of the proceeds thereof to pay
the surplus, if any, to the his legal repre-
sentative; and fthe said sale shall not produce the
sum required to be advanced with the Incidental
charges attending the sale, then the said President
and Directors may the balance of the original
subscriber his assignee or the executor or admns-
traitor of either of them, by suit in any court OF record
having jurisdiction thereof, or by warrant before any
Justice of the peace of the county of which he IS
resident; and any purchaser OF the stock OF the COM
pany under such sale shall be subject 10 the same
rules and regulations the original proprietor. 1t
SHALL nevertheless, be lawful for the said Presi lent
and Directors, if they deem it expedien instead OF
selling the stock of delinquent subscribers, as contem-
plated by this section, to recover such sums as may
be due the said company from delinquent subscribers,
by suit in any court of record having jurisdiction
thereof or by before any justice of the
of the county in which such delinquent stockhoder
| is resident.
! Basis OF DEMOCRATIC HARMONY AND Action. At
the adjourned meeting of the Democrats of Virginia,
now in this city, held the Capitol on Monday night,
Feb. 18th, 1851, Thomas ]. Randolph. Esq, in the
| d.
| lowing resolutions adopted. The first eight
were reported by H. A. Wise, Esq, from the com
mittee of twelve, and the 9th was moved by B. Rush
Floyd, ESQ., substitute for the concluding portion
| of that committees Report:
l. Resoiped, That the Democratic party of Virginia
! abides where i: has stood immovably firm upon
the joint basis of the Rights Of the States and Of tile
/ Union Of The States.
2 Resolued That they acknow ledge feaity be due
alike to the Constitution Of the United Sates and TO the
Reserued Soveregnties of The Statcs, paramount laws
of common country; and they will maintain both,
and repe all attempts invade either by every
which may lawfully be employed by good citizens and
true patriots.
g. Resolred That the Federal Union, in the foun-
dations of governments, is perfectly harmonized
with the separate and several State SOuereigntes, there
is no real ground for difference in fact, and should be
none feeling, between those who the friends
of both.
i 4. Resolred That it IS the object of this meeting
heal past and prevent future dssensions, caused by
the continued agitation of past issues and of the mode
of their adjustment among the friends of the Union
and of Slate Rights Of Democracy and gf hhe COyedera
cy, Of Liberty and of Law.
5. Resolued That all further agitation of these is
and of their late adjustment, either upon the
hand upon the other, having practica! end, is
now worse than vain. and is dangerous alike to all
that is precious in the Union and that is worth pre-
serving in the States.
I 6. Resolved, That to appeal, the hand, to
State Soveregnties TO attemp By resort to e-
ree remedies TO Chnt has 0een dOe IS 10 tu0e
them to risk the good aOhich still left and ahich is too
precious be eoparded for ha aohateUer be, 1vhfch
is lost and ,0hich cannot be restored. And appeals,
on the other hand to love of the Union and to Fed
eral Power intended to impair. If not destroy, the
Righks of The Stntes and to humble STATE prde
less odious in doctrine than they in the design
conuerting the h0liest sentiments of patriots into
political capital to be traded upon By that Party for
Consolidation (Which destructive IF the Union and
Of The ConstitutiOn Of the Confederacy is Of the
Rights of the States and of the Liberties of the People,
i. Resolved That it is the duty and the aim of the
Democratic Party of Virginia, TO aid in preserving
all the rights and all the just ends which instu
tons, State and Federal, intended to secure.
and to endeavor to compose and harmoniZe the ele
: ments Of dscord, North and South, threatening to
disturb National peace, the sster-hood of our
States and the family friendship of our People through
out the Republic.
g. ResoEued, That to that end the Democratic Party,
from it's principles Of peace and brotherhood among
men, from its devotion human liberty, from its love
OF Justice and Equality, from its hatred of all yran
ny, in whatever form exists is exerted from its
equal detestation of Central Despotism, from its
faithful adherence First Principles, from its
rces in the past end from its present relations and
hopes, is, of all parties, pre-eminenty best consu-
ted to counsel and to the Country in this crisis
of danger.
g. Resolved, That this meeting cordially tenders
l the Democracy of the Union invitation to unite
with the Democracy of Virginia in an organization on
the principles indicated in the foregoing resolutions
The Democratic papers of Virginia and the Union
were requested to publish the above resolutions.
t Richmond Enquirer.