Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-02-21
~ ACT TO INCoRPORAgEaTHE "SALEM
ND GERMANToN RAIER9 COMPANY"


-, ~ Shats Of tho State Of Nofs Ssina, and 4 =
\ ,e5v enacted by the asthorityg the same, Ina'
Far the purpose of constructing a railroad commun'-
cation from High Point, on the North.C Cen
trail railroad, by Salem and Winston IN tue Cou";y
of Forsythe and Germanton to or near
the County of Stokes, company IS mercy and
r.ta5 nnder the name and style of the "Saiem anu
Germanton Railroad Company" which small nave .
cornorate existence, as body polite, Tor the space
ofnlnety-nine years, and by that name may sus ~
ba sued plead and be implicated IN any couis "
law and equity in the State OF ah",i ~ oa.
NAV have and use a common SEAL ana snai' os "a
of,. IN law and equity of purchasing, holding leas-
70. md conveying estates, real personal and mixed,
pa Of ACQUIRING the same by gift or devise, so far
GO NAV be necessary for the objects herein contem-
plated. and no further; and said company may en-
joy all other rights and immuntles wnlcn otner cor,
all necessary bylaws andreguations for its govern,
ment. not inconsistent with the constitution and
laws of the State of North Carolina or of the United
States ;..,
stock of said company may be created oy suoscrlP,
TONS on the part of individuals, countess anu
;ncorporated companies, in shares of one hundred
dollars, and equal in amount to sum somc:ens !"
construct and equip the road herein autnorizea 10
be constructed, and no more. ,r
Sac. 3 Be 1t further enacted, That Francis Fries,
DIR. A. T. Zevely, E. Belo of the town OF Salem; "A.
j. Stafford Joseph Masten Robert trey o, 'ne DOWN
of Winston; R. d. Golding j. S. Gibson, NJ L. Ben
ton. of the town of Germanton, are hereby appoint
ed commissioners to receive subscriptions to the cap
;tal stock of said company in each OF said towns ana
counties anv three of whom may have power 10 act,
first giving ten days previous notice IN one OF the
newspapers of this State, OF the time OF opening
books for that purpose; and saio commissioners 1r
any five of them may at any time, after said books
have been kept open for the space OF twenty DAYS,
have mower to call together the subscribers to the
capital stock of said company, for the purpose OF
completing the organization thereof; ana alter or
eanizing the said company, may, from time to t'me'
receive further subscriptions TO It's capa s'och' as
it may deem proper.
SEC 4 Be it further enacted, That said company
NAV hold annual meetings Of its stockholders, and
oftener. if deemed necessary and at SAID annual
meetings seven directors shall be elected to hold Of
fee for the term of one year, or until thelr success
sors shall be appointed; and any OF SAID meetings
shall have power to make alter the bylaws OF the
company: Provided, That in all such meetings of
the stockholders, majority OF all the stock SUBJ
scribed shall be represented in person or by proxy,
which proxy shall be verified in the manner prescrb-
ed by the bylaws of the company; and each snare
thus represented shall be entitled to one vote on all
Questions that shall be the duty of the directors OF
the comnanv to select one of their own nun Ger, as
president of the company who shall be citizen OF
North. Carolina, and to fill all vacancies in their
board: and NAV have constructed as speedily as
practicable a railway with one more tracks, from
High Point on the Central railroad, to or near the
Virginia line in the county of Stokes, as provided
in the first section of this act.
Sec 5. Be it further enacted, That said company
shall have the same power to call for and enforce
the payment of stock subscribed, as was heretofore
granted to the North. Carolina railroad company by
their charter of Incorporation and shall have power
to condemn lard for the uses of the company when
a contract Of purchase cannot be made with the
owner thereof to the same extent, and in the same
manner and under the same regulations and restrlc
tions as the said North-Carolina railroad company
were authorized to do by their said act OF incorpor-
alton.
SEC. 6. Be it further enacted, That all contracts
made and entered into by the president or super
intendent of the company, whether with or without
seal, shall be binding upon the company, ana the
president SHALL under the instructions of the board
of directors issue certificates of stock to the stock
holders. which shall be transferable in the manner
prescribed by the bylaws Of the company.
Sec. 7. Be 1t further enacted, That the said COM
pany shall have power to borrow money for the
completion of said road, and issue their bonds for
the payment of the same, bearing interest not ex-
ceeding per cent. per annum, according to the
forms that may be prescribed by their bylaws, and
may secure the payment of said bonds by procuring
personal endorsers executing mortgages upon
their road and other property belonging to said
company.
Sec. s. Be it. further enacted That said Compa-
nv may have the exclusive right of transporting per-
sons and freight upon said road, at such rates of
charges as the board of directors may fix and may
have power to farm lease the same to any person
or persons or corporation.
Sec 9. Belt further enacted, That all Counties
and towns subscribing stock to said company shall
do SO in the manner, and under the same rules,
regulations and restrictions set forth and pre-
scrbed in the act incorporating the North Carolina
and Atlantic Railroad Company, for the government
of such towns and counties were allowed to SUBJ
scribe to the capital stock of said Company.
Sec 10. Be 1t further enacted, That this act shall
be in force from and after its ratification.
Read three times and ratified in General Assem-.
bly, the Sd day of February, 1857.
j. G. SHEPHERD, Speaker H. G.
W. W. AVERY, Speaker Senate.
A Fn-A farmer had occasion to send his hired
man, who by the way was jolly Dutchman, to
neighboring town for a. barrel of mel asses The