The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1855-05-11

rary of State, and tbencef"rrh, from the closing
of the books oI subscription as aforesaid, the said
subsc ibers 10 stock shall from one body corpor.
! and pliiic. in deed and in law, for the pur
poS's aiOIcsaId, by the name and style OF HE
Wilmington q Cha Rail Road Company.
SEC. &. That wherever. the sum Of live hun
dred thousand dollars shall be subscribed 10
and form aforesaid, The subscribers, their
executors administrators and assigns, shall be-
ard they are b, reby, declared to be Incorporated
into "a company by the name and style Of The
Wilmington & Charlotte Rail Road Company,
ard by that shall be capable in law and
equity Of purchasing, holding, selling. leasing and
Conveying cs.tes real, pc perso,ai aid nlixed, and
OF acquiring the by gift or devise, so lar as
shall hp necessary for the purposes embraced
within the scope, object and intent OF their Char
ter, and no further, and shall have perpetual sue
cession. and by their corporate name may sue and
he sued, plead and be mpeaded, in any court Of
law and equity in The Sae of North Carolina, and
may have and use a common seal, which they
| shall have power to alter and remove at pleasure.
and shall have and enjoy all other rights and I'M
| munt;es which other corporate bodies may and Of
slgh 10 exercise, aud GJay m lie alt such bylaws,
rules and regulations as they may deem proper
and necessary to their government and the inter
est ct heir company, Eot Inconsistent with the
CONSTITUTIONS and laws of this State, and Of the
United States.
SEC. I. That notice of process upon the princi
pal agent OF said company, or the president or any
OF the directors thereof shall he deemed and taken
to be due and lawful noce OF service of process
upon the company, so to bring it before any
court Of North Ctrolina
SEC. 8. That soon the sum Of five hun
dred thousand dollars shall have been SUBSCRIBED
in manner and form aforesaid it shall be the dutv
OF tn" general commissioners apponed in the third
Sccii"n Oi this act To appoint time FOR he stock
holders Ia meet at Wades borough, in the county
Vi Anson. V hch they shall TO BE previously
Pubjst"d tor The space Of four weeks in one
m0re newspapers as they may deem proper, ii
hch tine aud place the said stockholders, in per-
son by proxy. shall proceed to elect the directors
o. t,tr company, and to enact all such regulations
and hy laws may be necessary for the govern
Hl"nt oi The corporation and the transaction Of In.
siness. The persons elected at this meeting, shall
serve such period. not exceeding year, as the
stockholders may direct and at this meeting the
stockholders shall fix upon the day and place
places where the sub<e quent election of drec
shall l." held; and such election sha Il thcncelnrth
I've annually made, bat if the day Of election shal!
pass off without any eIection it shall be lawful to
hoid election on any other day in such manner
shall be prescribed by the bylaws Of the cor
poraton,
SEc. 9. That the affairs of the company shall
be managed and directed by general board, TO
consist OF nine directors to he elected by the
Stockholders. at their first annual meeting, and at
subsequent annual meetings; each stock holder
shall have as many votes he has shares IN he
stock Of the company, and the election shall be by
haIIo': the persons having majority of the votes
cast shall be considered duly elected.
Sec 10. That the President of the company
slIaI! be elected by the board OF directors from a
,nong their number in such manner MS the regUIa-
tons OF the company shall prescribe.
SEC. IL. That at the irst general meeting Of the
stocRhotiers, majority of all the shares sub.
scr bed shall be represented in person by proxy,
bejole the meeting shall proceed with business;
and if a sufi,"n: Eumber do rot attend, those who
do attend may adjourn from time to time until
naiorty shall be represented. At this meeting,
the Stockholders may determine what antount of
stock shall thereafter be necessary 10 constitute
ii quorum for the transaction Of business in the
regular or occasional meetings Of the stockholders
or directors.
SIC. -. That at all elections and upon ali votes
t3s"n il any general meeting of the stockholders,
each share Of stock shall he entitled to vote,
and any stocHho!dtr may vote by proxy, the
proxy being stocihoder, aud proxies shall be
verified il such manner as Inc bylaws of the
poration may prescribe.
SEC. 13. That the general commissioners shall
make their return OF the shares of stock subscrib
ed for al the first general meeting Of the sockhol-
derS, and pay 20 the directors elected at said
meeting, or their authorized agent, all sums Of
money received from subscribers, aud for failure
thereof shall be personally liable TO said company,
To be recovered at the suit Of SAID company in the
Superior Court Of law in the county whore such
delinquent or dehnquentS reside, or IN case OF
dca h. from his or The executors administrators
SEC. II. That the Board Of Directors may fill
all vacancies which may occur in it during the
period fer which it may have been elected and
the absence of the President, may elect Pre-
sd"ut pro tenn. from among their number.
SIC. Is. That all contracts or agreements au-
thorz"d by the President and Secretary Of the
Board OF Dir cors. shall be binding on the com
pany without seal, such mode OF authcnlIca-
iioH may be used the bylaws OF the company
may prescribe.
SIC. IS. That the company shall have power
and may proceed to construct as speedily as pos
sbIe ra road with more tracks, to be
nsed with Steam or other power, which shall OK
ten6 from Wilmington, from some point on
the Wilmington aud Manchester Rail Road. in
Columbus county, by way OF Lumberton. Rock
ingham and Wades bnTo', taking in all cases the
most feasible and advantageous route TO Charlotte.
IN the county OF Meckleuburg, and they may use
any section Of said road before TIE whole shall
have been completed:
SEC. II. That the said company shall have the
exclusive right of conveyance transportation
Of persons, goods. merchandise and produce on
said railroad, 10 be- by them cnnstTuc'ed such
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