Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1862-02-06
chatham Rnilrpad otd,nnnee.

an ordinance in addition TO, and amendment Of IN
the General Assembly ratified the 18Th day Of FeruarT
rCdd Company, and to repeal an Act SUpplenpnt1
o. rafl dc Esd day Of february, isst ''sre-
Carolina in Convention assembled and is oTd0m
ed By the author tty Of the That section first Of An M
1uary, thousand eight hundred and sixty one eni
" act Incorporating the Chatham Railroad Companv
fields county Chatham. through said county Ia
words '.coDnect with the North Carolina rail- Dad at
make the ton read ito connect with the Np
Carolina railroad at Raleigh point Raleiob
not exceeding twelve miles" 81
q Be 1t further ordained, That the proviso in section f
Of eaid act of the General Assembly be stricken
g. BE 1t further ordained, That an act OF the General
thousand, eight hundred and sixtyone, entitled " S
sc to an act passed at the present Of
Chatham Railroad Company" be and the is herebv
repealed ard abrogated
L. Be II further ordained, That all such solvent cornor
tons may shall subscribe to the capital stock Of the
said Chatham Railroad Company may make their bonds
payable the public Treasurer of the state of North Ca
china, TO- the of their subscriptions said can
stock and which said bonds to be sgned hu
the Presidents and under the seals respectively
poTaCns, and made for any not under five huDded
dollars each to bear interest at the rate of per cent
per Gnrm, which interest is to be paid semannuay IT,
the first Monday in January and july in each and
every year. and the principal of said bonds be made pa
able twenty years after date ard these Ids auhor
ed 70 be made may be deposited with the Public Treasurer
of the State who shall then issue and deliver the several
corporations subscribing and depos ting their bonds A.
aforesaid the coupon bonds of the tate OF North Caro
Ia the of their subscriptions respectively and
made for the Of five hundred, and thousand dollars
bear interest the lnte of six per cent per 0nn,
which interest be paid emannuay first Mon
day in January aud July in each and every year and the
principal of said bonds to be made payable twenty
after date PYOUided That said bonds shall exceed ii
the aggregate the of eight hundred thousand dollars
and, Provided also That said Chatham Railroad COMPANY
shall and deliver the Governor the State If
North Carolina. mortgage under the seal of said compa
n.y. wherein end whereby shall be convey ed to the Cover
and his in Office for the and benefit Of
the State all the estate both and personal belonging
to the samA conditioned for the indemnying ard SAVING
ham the state of North Carolina from the PAY meDt Of
the whole part of the bonds of the State authorized
by this ordinance be made by the Public Treasurer and
said to the capital stock of said Chatham Railroad Compa
ny in addition to the deed of mortgage herenbefoe re.
Gued to be executed and delivered by the Chatham Rail
rOa1 Company the State OF North Carolina SHALL by this
ordnf nee, have lien upon the estate both real per
sonal of said Company which they may have may
hereafter acquire, to principal and interest the
bonds of this State, authorized to be issued aforesaid
s. Re II fur her ordained That said bonds OF State
made by the Public Treasurer sh8 be ceved by The
said Chath7 N Railroad Company, pawn of subcrip
ens made aforesaid by such corporations capital
stock OF said Chatham Railroad Company.
BE It further ordained, That said corporations so
subscribing and depostng their bonds aforesaid with
the Treasurer If the State shall be allowed to redeem their
bonds at any time before maturity in the currency the
State giving thirty days notice to the Treasurer this
State of their Intention do.
= Be 1t further ordained, That the said Railroad nav
be constructed with teriai at pc int points the
said oafeds region that the Stockholders in said Com
pany agree upon with he appreciation of the Board
OF internal improvements.
BE 1t further ordained That the corporate authorities
said Chatham Railroad Company, in order provide for
the payment of their subscriptions, and of the principal
have authority to lay and coct taxes from all subjecs
which under the charter of said towns taxable.
g. BE further ordained, That the solvency of such
corporations may desire subscribe the capital stock
Of said Chati Railroad Company shall be Judged of by
the Board of Inter- al improvements
10. Fe 1t further ordained That all laws and parts of
avs, AL acts or parts of acts inconsistent with the pov
Ions of this ordnance hereby repealed and ebrogaed
A D 1862