Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-03-25
AN ACT

10 Q12<nQ an act e7t1tES1 An 0ct 20 tNCUF"~so"S
Westsrn North Carolina Railroad Company.
SEC l. Be It enacted by the General Assembly OF
the State of Carolina and it is hereby enacted
by the authority Of the same, That an act entitled
IAN act to incorporate the Western North Carolina
Railro Company" passed by the General Assem-.
bly, at the session of l854-56, be, and the same IS
hereby so altered and amended ne to authorize and
empower the board of Directors of said Company,
AZ soon as the amendments proposed by this act
shall be accepted by the individual stockholders OF
said Companr, to open books for subscription OF
stock, by individuals, to the capital stock Of said
Company, to the amount of two or three hundred
thousand dollars or to a sum intermediate between
two and three hundred thousand dollars said
board of Directors may determine; and upon said
subscription being made, and five per cent thereon
being paid by solvent persons or Counties, sub
scripton Of double the amount SO subscribed by
individuals shall be made on behalf of the State, to
the capital stock of said Company in the manner
and by the persons and upon tile certificate OF such
estimated cost, or individual subscription being
made as directed by the charter of said Company,
and the payments of the installments due from the
State on said subscription shall be made in the
manner, and upon the terms now prescribed in said
charter.
Sec. g. Be it further enacted, That the stock sub
scrbed under and by virtue of the first section Of
this act shall he added to the stock already SUBJ
scrbed to the capital stock Of said Company, and
the aggregate of stock thus made shall be expended
in constructing equpping, and putting in full OPP
Grafton the first section division of said road, in
the same manner as if the additional subscription
now authorized had been authorized by the charter
of said Company when originally granted, which
first section division shall extend to the town of
Morganton, in the County of Burke, and no further
That said board of Directors may locate said road
within two miles of the town of Newton, in Catawba
County, or said board may locate a branch of said
road extending from the main line to said town;
said branch not to exceed three miles in length
Provided nevertheless, That in case said board of
Directors shall not locate said line of Railroad in
less than two miles of the town of Newton nor con-
struct said branch aforesaid then the subscribers
subscriptions by them made to the capital stock of
said Railroad, and the President of the Company is
hereby authorized to execute release to the persons
herein designated.
Sec. 8. Be it further enacted, That the board of
Directors of said Company be, and they are hereby
authorized and empowered to open books of sub.
scrpton Of stock, by individuals, to the capital
stock of said Company to an amount sufficient to
meet onethrd of the cost of constructing the second
division Of said road which second section divis-
ion shall extend from the town of Morganton to
some point not more than ten miles east of the west
ern portal of the Swannanoa tunnel; which books
may be opened and subscriptions received at such
times and places shall be deemed most expedient
by the said board Provided, That nothing herein
contained shall authorize subscription of stock on
behalf Of the State, to the second division of said
road, till the first division to Morganton shall be
completed, equipped. and in full operation as pro-
vided in the original charter.
Sec. f. Be it further enacted, That before any
proposition for subscription of stock by Counties
shall be submitted to the people for their approval,
provided in the charter, the County Court of the
County proposing to subscribe "a majority of the
acting Justices of the Peace of said County being
presently shall determine on the amount of stock to
be subscribed by said County, and the manner in
which the question shall be submitted to the people,
the time when the vote shall be had thereon, and
the person by whom the subscription on behalf of
said County shall be made, and said Court shall
have power to make all such ORDERS rules and reg
uations for the issue and sale of the County bonds
necessary to insure the payment of the stock sub.
scribed, and to lay such tax from time to time as
may be necessary to pay the interest said bonds.
! and ultimately lquidate the principal of the same.
Sec 5. Be it further enacted, That soon as the
foregoing amendments shall be accepted by the pri.
vate stockholders of said Company in q general
meeting held by them to consider the same, oil such
clauses in the charter of said Company land nc
more) are in conflict with this act are hereby re-
| pealed and declared null and void
SEC. 6. Be it further enacted, That if the sale
Company shall accept the foregoing amendments tt
their charter, said acceptance shall be certified t
the board of Internal Improvements under the sea
Of the Company, signed BY the President and coun
tersigr ed by the Secretary.
Sec 7. Be it further enacted, That general meet
| ing of the stockholders of said Company may b.
held to consider the foregoing amendments immedi
aely after the ratification of this act and the sam
shall be in force from and after its accep lance by tn
private stockholders in general meeting assembled
Sec 8. Be it further enacted, That it shall b.
competent for the present or any future Genera
Assembly of this State to authorize any other Rail
road Company. or other Company formed for tn
construction Of any public improvement, to connec
with the railway Of the said Western North. Carolin
Railroad Company at any point its line; and tina
whenever any such connection shall be made, tn
Western North Carolina Railroad Company sha
join in the erection Of any warehouses and passen
ger sheds that may be necessary to render sue
connection perfect possible, and regularly us
the same for the reception and delivery of all pas
sengers, goods and other articles whatc. er; and tn
said Railroad Company shall not discriminate by
charges against the Company or Companies SO con
Meeting with its railway.
Ratified the I'd day Of February, 1857.