Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1853-03-26

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SEC. l. Be 1t enacted By the General 14Ssen'osy
of the State Of North CdroIina and "a, a as nereoy
enacted by the authority of tie same, Ih;t w Imam
G, Whitford, John jackson, Samuel II. oloueS
Nathan Whitford and Church ChaP man, togeIheI
with such persons as may hereafter be assoclaCed
with them their successors ana assigns, DC ana M
borabv craated A corporation and body polite, by
tha nSme and style of the "Swift Creek Plank
Road Company" and by THAT name may, for the
.necaI purposes of said corporation hereinafter set
forth acquire possess and transfer estates, real and
personal; shall have perpetual succession ana
common seal shall make all such by laws and reg
uIations not inconsistent with the laws OF TINS state
or of the United States, which may be necessary
for the well-ordering the affairs of said company :,
and by said name may sue and be sued, implead
and be implicated in the courts of this State
SEC. q Be at further enacted, That the capt.
tai stock of said company shall not exceed hIty
thousand dollars, in shares Of fifty dollars each, to
be paid and secured as may be provided Tor under
such rules as may be prescribed by the directors
hereinafter provided for.
SEC. 3. Be 1t further enacted, That the said
company shall have power to construct plank
road from Swift Creek Bridge, in the county OF
Craven to any point on the Raleigh and GreenVl!le
Plank Road and the said plank road shall be not
less than eight nor more than sixty feet wide.
Sec. 4. Be 1t further enacted, That when the
sum of ten thousand dollars shall be subscribed
q general meeting of the stockholders may be
called, after public notice thereof of twenty days
that to constitute quorum for the transaction of
sny business majority Of the number OF shares
subscribed shall be represented, either by person
or bv proxy, and quorum not being present, SAID
meeting may adjourn from day to day until quo
rum be present; that the stockholders at SAID meet
inc and at every annual meeting thereafter shall
elect five directors which said directors shall elect
one of their number president, who, said president
oil n
annual meeting after their appointment and until
their successors shall be appointed. The president,
with three or more of the directors or in case of
the absence of the president any four Of said di-
rectors, who may appoint president pro tene0ore,
shall constitute board for the transaction of bus
mess. All vacancies in the board Of directors may,
until the next regular meeting OF the Stockholders,
be filled by the directors.
Sec. s. Be 1T further enacted, That the board
of directors shall have power to contract with any
person persons for the construction OF said plank
road and to erect saw-mls and do all other acts
which may be necessary and proper, in the con-
structon Of said road; they may call on the stock
holders from time to time for such advances as the
wants of the company may require, until the whole
of said stock is paid in; they shall have power to
call general meeting of the stockholders giving
twenty days notice thereof; they may appoint
sach officers as may be necessary to conduct the
affairs of said company at their discretion, taking
bond and sureties for the faithful performance OF
their duties, and they shall generally transact all
the business of the corporation between the sew
era meetings of the stockholders.
SEC. 6. Be 1T further enacted, That if any sub
scriber shall fail to pay the sum required of him
bT the directors it shall be lawful for the board OF
directors to sell at public sale the share shares
of said subscribers refusing, giving twenty days
previous notice of the time and place of said sale,
and after retaining the sum due, and all the char
ges of said sale out of the proceeds thereof ito pay
the surplus of the former owner to his legal repre-
sentative and if said sale shall not produce the
due on the stock subscribed for with all the incl
dental charges, then said board may, IN any of the
courts of this State having jurisdiction of the
the balance of the original subscriber or his
assigns or of their legal representatives and any
purchaser of said stock, under the said sale, shall
be subject to the rules and regulations the
original proprietor.
Sec. Z. Be 1T further enatea, That the board
of directors, or their agents, may agree for the
purchase of any land necessary for the location Of
said road or of the tollhouses or other necessary
ware houses, &c. and in case of disagreement OF
the owner of the land is feDoe covsrt infant or
person non conepos nentiS OF out of the State on
application to any two justices of the peace Of the
county where the land lies, [theyl shall issue a
warrant to the sheriff of the county to summon
eighteen freehoders to view the land to be valued
on the udy pTeSS0u III Sdlu NdTTalI, StiQ Qay 70
be not less than ten days or more than twenty from
the date of the issuing said warrant, and when the
said freeholders shall be assembled as aforesaid
twelve shall be drawn by the sheriff. who, after
being duly sworn shall impartially value the land
to be condemned, and assess the damages, if any
the owner thereof may sustain, and the verdict SC
rendered shall be signed by the said jury, and
countersigned by the sheriff. and returned to the
clerk of the county court to be recorded and in al
shall be the duty of the said Jury to describe
the land valued, and if either party is dissatisfied
with the amount of damages assessed, they may
appeal to either the county superior court under
the same rules as regulate appeals from iudg
ments of justices of the peace, and Oh the payme9
of the value sol aforesaid to the owner of sale
land in of his her refusal to receive the
same, or be absent from the State, on the payment
thereof into the Office of said clerk of the county
court by the said board of directors, the said cor
poration shall be seized in fee of said land: Pro
Vided, That no portion of the dwelling house. ward
kitchen, or garden shall be condemned to the ust
of said corporation without the owners consent
more than two of land at anv on,
place for the location of depot or any other pur
pose.
Sec. s. Be 1t further enacted That it shall b.
lawful for said board of directors, as soon as fiy
miles of said road shall be completed, at toll-rate
to receive and demand reasonable toll from al
persons using said road and if any person shall
refuse to pay the toll before passing the place Je
sgnated for the receipt of tolls, the tOl-rathere
may refuse passage to such persons so REFUSING t.