Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1862-06-04

authenticatiou shall be used as the Company by
their bylaws may adopt
SIC. Is. Be it further ordained, That the said
Company may purchase and have and hold in fee,
or for term of years any lands, tenenents or he
reditamentS, which may be necessary for the said
road for the erection of repositories houses for
the officers and agents of the Company, or for work
shops, or foundries for the Company, or for any
other purposes for the furtherancc OF said road.
SEC Is. Be 10 further ordained, That the Com
pany shall have the right, when necessary, to
struct the said Railroad across any public road,
along the side of any public road: ProUided, That
the said Company shall not obstruct any public
road, without first constructing equally as good
and convenient as the one taken by said Company.
SEC II. BE it further ordained, That when any
land or right of way be required by said Company,
for the purpose of constructing their road building
warehouses; water stations, workshops or deposito-
reS, and for want agreement to the value there
Of the same cannot be purchased from the owner or
owners, the same may be taken at valuation, to be
made by a jury of good and lawful men, to be
summoned by the Sheriff of the county in which the
land may lie. and III making the said valuation, the
SAID jury shall take into consideration the loss
damage which may accrue to the owner owners
in consequence of the land right of way being
surrendered, and also any special benefit advan-
tage, he she, or they may receive from the erection
of the said road and shall state the value and amount
OF each, and the excess of loss damage over and
valuation of land or right of way; Provided nerer-
heLeSS, That if any person over whose land the said
road may pass, or the Company should be dissatis-
fled with the valuation thus made then and in that
case, either party may have an appeal to the Court
of the county, to be held thereafter and the Sheriff
return to said Court the verdict of the Jury with
their proceedings thereon and the lands or right of
way so valued by the jury, shall vest in the Com
pany so long the shall be used for the pur-
poses of said Railroad So soon as the valuation may
be paid if refused paid to the Clerk of the
County Court: Provided, That the right of con-
demnatiOn shall not authorize the sad Company to
invade any dwelling house, yard garden or graveyard
of any individual without his consent
Sec Is. BE it further ordained, That the said
Company shall have the exclusive right of convey
ance or transportation of persons or goods
chandze and produce of all kinds over said road at
such charges as may be fixed on by majority of
the Directors.
SEC. 49, Be it further ordained, That the
profits of said Company, much thereof
the Board Of Directors may deem advisable,
shall, when the affairs of the Company will permit
be annually semannually divided among the
Stockholders in proportion to their stock
SEC. 90 BE IL further ordained, That notice
of process upon the President any Of the Direc-
tors shall be deemed and taken as due and lawful
notice Ofservce upon the Company.
SEC. e. BE it further ordained, That the
said Company shall have power to construct branch
es to said road and connect with any other rail-
road that may be constructed, and any contract
that may be entered into with any other rail road
company, by the President and Directors Of said
Company, after the consent of majority of the
stockholders first obtained shall be binding on said
Company.
SEC. %. BE 10 further ordained, That it may
and shall be lawful for the Fayetteville and Florence
Railroad Company, to make and issue bonds to
amount not exceeding one million dollars, to be
signed 10y tn. President of said Company, under
the common seal of the same in sums of one hun
dred dollars each, bearing interest at seven per
cent, and redeemabe according to the contract that
may be made at the time of the sale.
SEC. %. BE 40 further ordained, That to secure
the faithful payment Of said bonds 1t may be lawful
for the President and Directors of said Company to
make and execute 4 mortgage or deed of trust
under the common seal of said Company wherein
shall be conveyed to the person thus appointed
trustee, the road, property and franchises Of said
Company, conditioned for the payment of the interest
and final redemption Of said bonds.
SEC. 24. BE ii further ordained, That all the
work hereby required, shall be executed with due
diligence, aud if it be not commenced within four
years after the ratification OF this ordinance, then
this charter to be void.
SEC. %. Be 10 FURTHER ordained That it shall be
lawful for all solvent corporations to take stock in
the said road, which Stock when taken, shall De
represented by the Presidents of said corporations
and in the case of county, by the chairman of the
County Court.
Sec. 26. BE it.turther ordained, That this ordi-
nance be in force from and after its ratification and
shall be regarded public act and shall be con-
tnued in force until the year nineteen hundred:
PrOcided That nothing herein contained shall be
construed as to authorize appropriation to said
road by the State, allow said corporation bank
ing privileges.
Passed and ratified in open Convention, the 18th
day of May, \. d., 1862.
w. n. EDWARDS,
Teste: Pres. of Con.
W. L. STEELE Sec
L. Z. EDWARDS Asst Sec.