Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1857-03-23
apmchbur1 s'irniuiaw.
Monday Morniny. Mar ch 23. 1891


ed by the Legislature Of North Carolina for TN
construction of the salem aud Germanton Raii
wav-ihe same to which We referred in our issu,
of Friday. We place it before our readers tina
they NAV know tina, the way is open to US b,
which we may reach the centre of the great TO
bacco producing region of North Carolina. Give
to the tobacco manufacturers OF l-ynchoufg ihi'
great source of supply for raw material OF the
best description and they are secure in the supre
macy they now enjoy in all the markets Of The
Union. Let US retain this supremacy and ths
march of our city is "stil onward" despite oi
all croakers and evil prophesers who stand by
the wayside 10 decry the energetic and enter
prsing citizen who has regard for other
things besides the almighty dollar. and who will
not concede that all wisdom abideth with those
who have large amounts of shaved notes deposited
at bank for collection
AN ACT TO INCORPORATE TIE "SALEM AND
GERMANTON RAILROAD COMPANY"
SIC l. Be II endefed By the G5lsfat dsse'a6tY 81 tn
STATE of North Carolina, and Is hsreb9 enacted IN h
aufhor,v Of The sum- That for the purpose OF con-
structiug a railroad communication from High Point
on the North Carolina Central railroad by Salem and
Winston in the County OF Forsythe, aud Germanton
TO or near Danbury, in the County OF Stokes, COM
pany is hereby incorporated under the name and
oil
pany," which shall have corporate existence, as n
body polite for the space of nnetynlne years aud
by that name may and be sued plead and he i'm
pleaded in any Court OF law aud equity in the State
of North Carolina, aud may have and use common
SEAL and shall he capable IN law aud equity of pur
chasing holding leasing and conveying esta es, real
personal, and mixed, and of acquiring the same by
gi or devise, far as may be necessary for the OBJ
jects herein contemplated. aud no further aud said
company may enjoy all other rights and immuniiies
In full h
and may make all necessary by.laws and regulations
for its government not inconsistent with the cons
tuition and laws of the State OF North Carolina Of
the United States
SEC 9 b Il further enacted, That the cap tai stock
of said company may be created by subscriptions, on
the part of individuals, counties towns and incorpo
rated companies, in shares of one hundred dollars,
and equal in 10 sum sufficient to construct
and equip the road herein authorized 10 he construct
ed and ~ more.
SIC g. Be IL further caacted That Francis Fries,
DIR. A. T. Zesely, L. Belo of the town of Salem J.
Stafford Joseph Masen, Robert Gfey oil the town Of
Winston; r. y. Goding, j. s. Gibson, NJ T. Benton,
of the town of Germanton,are hereby appointed conn
missoners to receive subscriptions 10 the capital
stock OF said company in each Of sud towns and conn
ties, any three of whom may have power To act first
giving ten days previous notice IN one OF the news
papers of this State of the time oil opening books for
thai purpose, and said commits any 1--WE OF
them may at any Time after snid books have been
kept open for the space of twenty days, have power
to call together the subscribers 10 tie capital stock
of said company, for the purpose 81 completing the
organization thereof, and after organizing the said
company, mPy from time 10 time receive further sub
scriptions TO its capitol stock II may deem proper
SIC. 4. b # fnrtAcr dactfd, That said company
may hold annual meetings OF It's utoekholdcrs and
oftener ifdeemea necessary; aud At said annual meet
ngs directors shall be elected = bold Office Far
the term of one year, until Their successor, shail
be appointed and any Of said meefuH4 shall have
IN mn kp nj Tier he Ut
Prorided That IN all such meetings OF the stockhoi-
ders, majority OF all the stock subscribed shall lac
represented in or by proxy which proxy shall
be verified in the manner prescribed by iAc bylaw
of the company; and each share thus represented
shall be entitled to ON all questions; that il
shall be the duty Of the directors oil the company la
select one of their own number n president OF the
company who shall be n citizen Of North Carolinl
and 10 fill all vacancies in their board and may have
constructed, speediyns praeheHble,a railway with
one more track, from High Point The Central
railroad, TO the Virginia line in the county
of Stokes provided in the first scytiou of this act
SIC 3. Bat .frthr Bd-f,3. That said company
shall have the poWcrt cal Tor aud cuiorce the
payment of stock subscribed was heretofore gram
ted to the North Carolina railroad company 10y then
charter of Incorporation aud shall have power Il
condemn land for the uses OF the company when d
contract OF purchase cannot be made with the Owner
thereof 10 the extent, aud III the same manner
and under the same regulations and restrictions IA
the said North Carolina railroad company au#
thorized to do by their said act Of interpretations
SIC 6. b II further Enacted That all contracts
made and entered into by the president supcrln
tendent OF the company, whether with or without
seal, shall be binding upon the company, and th
president sha under the instructions OF the boar,
OF directors issue certificates of stock the stock
holders which shall be transferable in the nanne
prescribed hy the by-laws of the company
SIC. :. BE i FURTHER caacfld That the said compa
ny shall have power to borrow money for the com
pletion of said road and Issue heir bonds for In
payment of the same bearing interest not cNceedn,
per cent per anuum according 10 the forms tha
may be prescribed by tleif bylaws, and may Sc
cure the pay ments of said bonds by procuring per
sonal endorsers executing mortgages upon thei
road and other property belonging TO said company
SEC. &. BE u further enacted That said Compan.
may have the exclusive right of transporting person
and freight upon said road at such rates of charge
as the board Of directors may dN and may have pow
er to farm lease the 10 any person person
or corporation.
SEC. Q. Be II FURTHER enacted That all Counties an
towns subscribing stock TO said company shall do 5
In the manner and under the same rules fegnla
tons and restrictions, sci forth and prescribe
in the act Incorporating the North Carolina and Al
lantic Railroad Company for the government Of sue
towns and counties as were allow cd 10 subscribe
the capital stock of said Company
SEC 10. Be farfder enacted, Tint this act shall b
in force from and after itsrN hca,ion
Read three times and ratified in General Assemble
the Sd day of February 1887
J. q, SHEPHERD, Speaker II. c.
". ". AVERY, Speaker Senate
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