Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1861-04-04
CHE 1allas 2ailtoaa,
Chartar ofthe Dallas and Kings Noun.
tain Rail Road Company.

T'" 6 '''''" q
Charter ofth Dallas and Kings Noun
tain Rail Road Company.
SECTION l. Be 1t enacted by the Gener.
al Assembly of the State Of North Caro1i-
ma, and 1T is hereby enacted By the aut''or'-
y OF the same, That company by the name
and style of the "Dallas and Kings Noun
tain Railroad Company" be-. and the same
is hereby incorporated, with capital stock
of two hundred thousand dollars, divided
into shares of fifty dollars each, for the pur-
pose of constructing railroad from Dallas,
in CASTOR county, N. c., to the South Ca
rolina line.
SEC. 2. Be 1t further enacted, That for
the purpose of creating the capital stock of
said company, the following persons be, and
they are hereby appointed general commits,
sioners, viz: David A. Jenkins, Robert
Wilson, Lawson Wilson, William NJ. Fer
guson, James Quinn, J. r. Falls, Ezra B.
Wilson, Moses H. Rhyme, J. F. Pegram,
Jacob Fronebarger, Jr., John G. Lewis,
Edward Whitesides, Samuel Jarrett and
William Crawford, whose duty it shall be
to direct the opening of books for sub
scriptions of stock, at such times and places,
and under such persons as they or ma
jority of them may deem proper; and said
commissioners shall have power so appoint
a chairman of their body treasurer, and all
other officers, and to sue for and recover all
sums of money that should be recovered by
them under this act. u.s. q
Sec. 3. Be 1t further enacted, That when
the sum of Fifty thousand dollars shall have
been subscribed in manner and form as a
foresaid, in shares of fifty dollars each, and
shall have paid FIVE per cent, on the same,
to the persons authorized to receive the
same, all subscriptions upon which FIVE per
cent. is not paid, being null and void, the
subscribers, their executors, administrators
or assigns, shall be and they are hereby de-
clared incorporated into company BY the
name and style of the Dallas and Kings
Mountain Railroad Company and by that
name shall be capable in law and equity of
purchasing, holding, selling, leasing aud
conveying estates, real, personal and mixed,
and of acquiring the same by gift or other
wise, so far as shall be necessary for the
purposes embraced in their charter, and
shall have perpetual succession, and may
sue and be sued by their corporate name,
plead and be impleaded in any court of law
and equity in the State of North Carollpa,
or any other State having competent juris
diction; and may have and use common
seal which they may alter or renew at
pleasure and shall have and enjoy all other
rights and privileges which other corporate
bodies may and do exercise, and make all
such bylaws, rules and regulations as may
be necessary for the good government OF
said company.
Sec. 4 Be at further enacted, That 1t
shall be the duty of said stockholders or a
of majority them, so soon as the sum of fifty
thousand dollars shall have been subscribed
as aforesaid, to appoint time and place,
and give at least thirty days public notice
for the stockholders to meet, at which time
and place, majority of the stock being re
presented in person or by proxy, shall pro-
ceed to elect nine directors out of their mum
Der, each of whom shall possess at least ten
shares of stock, aud shall also proceed to
elect a president, treasurer and secretary
out of the number of stockholders and the
said directors shall have power to do al
things necessary for the government OF the
company and for the transaction of business
The persons elected directors as aforesaid,
shall serve for one year; and the president
treasurer, secretary and directors shall be
held annually at such times and places as
the stockholders may direct. But if the
day for the annual election should pass by
without an election of officers, the officer;
formerly elected shall continue in Office un
til new election takes place.
SEC. 5. Be 1t further enacted, That the
election Of all officers shall be by ballot, eact
stookholder casting as many votes as he ha'
shares in the stock of said company, ane
the person receiving majority of votes thu
polled, shall be considered elected. Eact
share of the stock shall be entitled to on
vote, to be represented in person or b.
proxy.
Sec. 6. Be 1t further enacted, That tn
board of directors may call for the sums sub
scribed as stock in said company IN sucl
instalments as the interests of said compan.
may require-the call for each payment Il
be published in one or more newspapers TO
the space of one month before the day o
payment, and on the failure of any stock
holder to pay each instalment as thus re
quired, the directors may sell at public auc
ton, ten days notice having been given
for cash, all the stock subscribed for in sai'
company by such stockholder, and conve.
the same to the purchaser at said sale; ant
if said sale of stock do not produce fun
sufficient to pay off the incidental expence
of the sale and the entire amount owing D.
such stockholder to the company for sue
&b,n opd in that Rase