The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1861-02-27

V. The said company, 10y its corporat,,
name above mentioned, shall have per,
petuai succession Of members, shall be
capable of acquiring and holding real
and personal property. SO far rs the same
may be necessary aud suitable for the
purpose for which they are Incorporated ;
may sue aud be sued plead and be i'm
pleaded may have aud use n common
seal, which they may break and alter at
pleasure and make al! such bylaws,
rules aud regulations, AS they may deem
necessary for the well ordering and con
ducting Of the said company /: Provided,
Such by laws, rules and regulations be
not repugnaut to the Constitution and
Lnws of the State.
vi. For the purpose Of acquiring such
lands or rights Of way, rs the company
may require lor the location and construc.
ton oi Their road, or for the erection or
location Of such depots, warehouses, sta.
tons, alto other necessary establishments,
or Tor extending or alternating the same,
tbs said company shall have every right,
privilege and power heretofore granted
TO, and which now is, or has been, used,
Possessed or Ell joyed by the Charleston
and Savannah Railroad Company, here
totore incorporated in this State, and
shall also be entitled to the use and ben.
eht OF every process or proceeding prOSi
ded by law Tor enabling the SAID Rail
road Company to obtain and hold in fee
smp'e such lands or rights OF way as
they may require, i'll cases in which the
consent Of the owner cannot be obtained.
For crossing any pubic roads, rivers,
creeks, or other water courses, the said
company may at their option, either con,
"ruct viadIcts, bridges, or any proper
form of crossing the same, but not in
OF such public roads, or the navigation OF
such rivers, creeks OF streams.
VII. The said company shall have the
same exclusive right Of transportation ON
| their ra,road or railroads which is DOS
sessed and enjoyed by auy other railroad
company IN Ibis State, aud persons tres
passing or intruding upon the sad rail
road, shall be liable to all the penalties
provided by law for the prevention ot
Ir->s "ises nnd inirus'ons upon any other
rH'Iroad end any person who shall will
fully destroy, damage, or obstruct the
SAID railroad, or any branch or parl there
Of, shall be liable TO all the penalties to
which persons wi'fully destroy ing, dana.
g'ag. or ob,tructing any other railroad
ale made liable by any lay of this State.
VIII. The said company shall also
have the privilege Of borrowing any mon
ey for the purpose OF constructing their
road, on such terms, and at such rate Of
interest, as they may think proper.
TX. Subscriptions to the stock Of said
company shall be payable by install
ments, Of not more than i've dollars on
esch share. and at intervals of no, less
than sIxty days, under sach regulations
as may be prescribed by the Iy laws
Public no.ice OF the time Of payment Of
each iuslaIment shall DO given at least
sixty days before. In case any install
meu' Oh any share shall remain unpaid
for the space Of ninety days after he
.iine appointed for payment thereof, such
share shall be liable TO forfeiture, and the
company may declare, nt their op,ior,
the same forfeited, and vested in the
company ; but such forfeiture shall be
deemed TO discharge the defaulting stock
holder from the obligation to pay the
amount, remaining unpaid on the forfeited
share. The shares Of the capital stock Of
said company shall be personal property,
aud shall be assignab.e aud transferable
in such maneer, and under such regnla
tons, IS may he prescribed by the by
laws.
\. The President and Directors Of the
said company shall have authority to car,
~ into execution all the powers hereby
granted 10 the company, subject to such
Iimitat'ons aud restrictions AS may be i'm
posed by tie by laws. There shall be at
least one meeting Of the stockholders am
nualiy. at such time as may be appoin
Ted 10y the by laws, ut which the P,esi
dent and Directors shall make report
in writing oi the affairs and condition of
The company; other meetings may be
called BY The President and Directors,
whose duty II shall be TO call a meeting
OF The company whenever it is demanded
IN ~rung by fifty stockholders, having
among them six hundred shares or more.
Il shaIl be lawful for the stockholders at
any meeting TO remove the President and
Directors, or any OF them, from Office,
and to elect others in their stead.
XII. Tbs following officers and persons,
while in the actual employment of the
said company, shall be exempt from the
performance Of ordinary militia duty and
rom service on jures, that is TO say the
President and Superintendent, the Secre
tary and Treasurer, the Guards stationed
on the road 10 protect it from injury.
(not exceeding one white man to every
live miles, and such persons as may be
actually employed in working the loco
motives, and travelling with the trains,
not exceeding one white engineer and
his white assistant to each engine, one
white person to each passenger car, aud
TO every ive cars for the transportation Of
freight. ~