Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1862-03-12

Coalields in the county Of Chatham through said
county" the words connect with the North caro-
lima railroad at $50 as to make the section read
connect with the North Carolina rarlroad at kalegn
or point west Of Raleigh, not exceeding t"el'e
miles" - 49, /
2 Be It. further ordained, That the proyso IN
section four Of said of the General Assembly, oe
stricken out ss ..4,--.s-7 r. ]
g. Be it farsAsr ordained, That an act OF the
General Assembly, ratified on the twenty-ln gay
of February, one thousand eight hundred ana slxy
one entitled IAN act supplemental to an ACT passed
At tho nrcssnt session Of the General Assembly. en-
filled an act tn Incorporate the Chatham Railroad
Comnany." be- and the same is hereby repealed and
n. il fxrtlsr ordained That all such solvent
corporations as may or shall subscribe to tue capi-
tai Stock CT the said Chatham Railroad Con pany,
NAV make their bonds payable to the public Treas
nrer of the State Of Carolina for the amount
Of their subscriptions to said capital stock, and no
more: which said bonds are to be signed by the
Presidents, and under the seals respectively OF said
corporations, aud made for any sums not under hve
hundred dollars EACH to bear interest at the rate OF
six per cent. per annum, which interest Is to oe PAD
semi.annuay, to-wit: 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: and these bonds so authorized to be made,
may be deposited with the Public Treasurer Of the
State who shall then issue and deliver to the sever
al corporations subscribing and depositlng their
bonds, as aforesaid the coupon bonds of the State
of North Carolina to the amount Of their subscfp-
items respectively, and c,ade for the sums of five
hundred and one thousand dollars, to bear interest
ct the rate Of Six per cent per annum, which inter
est is to be paid senan:iualy, on 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; Pvcided, That said bonds
shall not exceed in the aggregate. the sum of eight
hundred thousand dollars, and, Froriiea also, Iha:
said Chatham Railroad Company shall execute and
deliver to the Governor Of the State OF No. Carolina,
deed Of mortgage under the seal of said company,
wherein and whereby, shall be conveyed to the Gov
and his successors in Office, for the use and
benefit of the State all the estate both real and per-
Sonal, belonging to said company, Cir IN any manner
pertaining to the same conditioned for the indemnify
Jag and saving harmless the State of North Carolina
from its. ray,nent Of ,he whole or any partot The
boa1stte State authorized by this ordinance to he
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 deed Of mortgage herenbefore re-
qured to be executed and delivered by the Chatham
Railroad Company. the State of North Carolina shall
by this ordinance, have lien upon the estate, both
real and personal Of sai'! Company, which they may
have may hereafter acquire, the prn-
cai and interest of the bonds OF this State, author
lied to he issued as aforesaid
5. Be IL further ordained, That said bonds of the
State so made Ly the Public Treasurer shall be
ceiycd by the said Chatham Raj read Company, in
payment of subscriptions made aforesaid by snch
corporations to the capital stock of said Chatham
Railroad Company.
G. Be i; suFt.tr oraa:nc2 That said corporations
so subscribing and dcpoSiiing their bonds aore-
said, with the Treasurer Of the State, shall be allow
ell to redeem their bonds a! any time before maturi-
ty in the currency Of the State giving thirty days
notice 10 the Treasurer Of this State Of their nten-
! ton 10 do.
:. Be it further or,lained That the said Railroad
| may be constructed with termini at any point or
| points in the said Coaelds region, that the Stock
! holders in said Company may agree upon, with the
! appreciation of the Board of Internal improvements.
! s. Be il FURTHER nr9aiReJ, That tie copper
ate authorities of Incorporated towns. subscribing
to the capital stock Of said Chatham Railroad Com.
/ pany in order 20 provide for the payment Of their
subscriptions, and of the principal and interest Of
bonds for tina. purpose by them issued, shall have
authority to lay ard collect taxes from all subjects
which under the charter of sad towns taxable
g. BE it further ordained, That the sn!vency Of
such corporations as may desire to subscribe to the
capt.l stock Of said Chatham Railroad Company
shall lie Judged Of by the Board of Internal I'm
provculeniS.
TO- Be IL further ordained. That all laws an,
parts of laws. all acts parts of acts, nconsStcn
with the provisions of this ordinance are hercb,
repealed and abrogltcd.
Passed and ratified in open Convention, the soil
day of January, A. D. 1852.
W. n. EDWARDS,
TeS.c: Pres. of Convention.
WALTER l.. STEELE. Secretary.
l.. q. EDWARDS, Assistant Sccy.