Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1862-03-08

CealRel;is IN the comfy Of Chatham, through SAID
county, the words :. connect with the North CARO-
lima railroad at so Is to make the section read TO
connect with the North Carolina railroad at Raleigh,
or some point west of Raleigh, not exceeding twelve
miles"
, Be Il farther ordained, That the proyiso in
section four of SAID of the General ASSEMBLY, De
stricken ont - =
8. Be 10 further ordained, That an act OF the
General Assembly, ratified on TIE tsenty-third day
of February one Thousand eight hundred and sixty.
one entitled an act supplemental to an act passed
at the present session Of the General Assembly, en-
titled an act to incorporate the Chatham Railroad
Company" be and the same is hereby repealed and
abrogated. :. /
corpo-a;iors as mt or shall subscribe to the CAPT
tai stock OF the sad Chatham Railroad Con pany,
NAV make their bonds payable to the public Treas
urer of the State Of North Carolina for the amount
OF their subscriptions to said capital stock, and no
more; which said bonds are to DC signed by the
Presidents and under the respectively OF SAID
corporations, and made for any sums not under live
hundred dollars EACH to bear interest at the rate OF
six per cent per GnRum, which interest is to be paid
seini-anuually to-wi: the first Monday in January
and July, in each and every year, and the principal
of said bonds be made payable twenty years alter
date; and these bonds authorized to be made,
NAV be deposited with the Pubic Treasurer of the
State who shall then issue and deliver to the sever
al corporations so subscribing and depoSitng their
bonds as aforesaid, the coupon bonds OF the State
of North Carolina to the amount of their subscrip-
tons respectively, and made for the sums OF hive
hundred and one thousand dollars to bear interest
at the rate of six per- cent per daRum, which inter
est is to he paid Seni-annually, the first Monday
in January and July, in each and every year, and
the principal of said bonds to be made payable
twenty years after date; Preceded, That said bonds
shall not exceed in the aggregate the SUN OF eight
hundred thousand dollars, and PrOcided also, That
said Chatham Railroad Company shall execute and
deliver to the Governor OF the State Of No Carolina
a deed of mortgage under the seal of said company
wherein and whereby, shall be conveyed to the Gov
ernor and his successors in Office, for the use and
benefit of tine State all the estate, both real and per-
sOnal, belonging to said company, OF in any manner
pertaining to the same conditionedor the indemnify
Jag and saving harmless the State Of North Carolina
from the payment Of the whole any part Of the
bon of the State authorized 10y this ordinance to be
made by the Public Treasurer and delivered to the
several corporations subscribing aforesaid 20 the
capital stock Of said Chatham Railroad Company.
In addition TO the decd Of mortgage hereinbcloTe re-
qured to be executed and delivered by the Chatham
Railroad Company, the State Of North Carolina shall,
10y this ordinance have lien upon the estate, both
real and personal Of said Company, which they may
now have may hereafter acquire TO secure he prin
cipa and interest of the bonds OF this State author
lied to be issued as aforesaid
). BE IL further ordained, That said bonds Of the
State so made by the Public Treasurer, shall be re-
ceived by the said Chatham Raj road Company, in
payment of subscriptions made aforesaid by such
corporations to the capital stock Of said Chatham
Railroad Company.
6. BE IL further oraUin6d That said corporations
so subscribing and dcpositing their bonds afOrc-
said with the Treasurer of the State shall I've allow
cd to redeem their bonds at any time before maturi-
ty in the currency Of the State giving thirty days
notice to the Treasurer Of this State Of their nen
ton so to do.
Z. BE IL further Orlained, That the said Railroad
may be constructed with termihi at any point or
points in the said Coalfcds region, that the Stock
holders in said Company may agree upon, with the
APPRECIATION of the Board of Internal improvements
s. BE it further ordained, That the corpor.
ate authorities Of incorporated towns, subscribing
TO the capital stock of said Chatham Railroad Com
pany, in order 10 provide for the payment Of their
subscriptions and Of the principal and interest Of
bonds for that purpose by them issued shall have
authority to lay and collect taxes from all subjects
which under the charter Of SAID towns arc taxable.
Q. s. Il fUrthCr ordained, That the solycncv Of
such corporations may desire to subscribe To the
capital stock of said Chlttam Railroad Company
shall DC Judged Of by the Board of Internal I'm
provcmcntS.
n. B5 IL fUrtasr ordained, That all laws and
parts Of laws, all acts parts OF acts inconsistent
with the provisions Of this ordinance, arc hereby
repealed and abrogated.
PASSED. aad ratified in open Convention the 30tt
day OF January, 4. ID. 1862.
W. n. EDWARDS,
TcSte: Pres of Convention.
WALTER L. STEELE. Secretary.
L. Z. EDWARDS, Assistant Secy.