The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1867-03-21

liitO IuC Sdule Ol The cSGlUnaGcQ value OF
tue premises taken for the use and benefit of the
owner thereof, said promises shall be deemed to
be taken by said company, which shall thereby
acquire full title to the same for the purposes
aforesaid. And either party feeling aggricved at
said appraisement may, within thirty days after
the same has been returned into court, file on ap-
peal therefrom, and demand jury of twelve men
to estimate the damage sustained; but such ap-
peal shall not Interfere with the rights of said
company to enter upon the premises taken, or to
do any act necessary and proper in the constuc-
tion of its road. And said party appealing shall
give bonds, with sufficient surety or suretes for
the payment of any cost that may arise upon such
appeal and in case the party appealing does not
obtain verdict more favorable such party shall
pay the whole cost incurred by the appellee,
well lis his own and the payment into court for
the use of the owner of said promises taken, at
sum equal to that finally awarded, shall be held
to vest in said company the title of said land,
and the right to use and occupy the same for the
construction, maintanance, and operation of said
road. And in case any of the lands to be taken
as aforesaid shall be held by an infant, femme
covert, non compos, insane person, or persons
residing without the Territory within which the
lands to be taken lie or persons subjected to any
legal disability, the court may appoint guardian,
for any party under any disqualification, to ap
pear in proper person. who Snail give bonds
with sufficient surety sureties, tor the proper
and faithful execution of his trust, and who may
represent in court the person disqualified, as
aforesaid, from appearing, when the same pro-
ccednGs shall be had in reference to the apprais-
ment of the premises TO he taken for the use OF
said company, and with the effect as has
been already described and the title of the COM
pany to the lands taken by virtue Of this act shall
not be affected or impaired by reason of any fai-
lure by any guardian to discharge faithfully his
trust And III case any party shall have right
or claim to any land for a term of years, any
interest therein, in possession, reversion, re-
mander, the value of any such estate, less than q
fee simple, shall be estimated and determined in
the manner hereinbefore set forth And in case
it shall be necessary for the company to enter
upon any lands which are unoccupied and of
which there is no apparent owner or claimant,
it may proceed to take and the same for the
purposes of said railroad, and may institute pro
cecdings, i'll manner described, for the purpose of
aScertanng the value of, and of acquiring title
to, the same; but the Judge of the court hearing
said suit shall determine the kinds of notice to
be served on such owner or owners and he may
in his discretion appaint agent or guardian to
represent such owner or owners in case of las or
their incapacity or non-appcarance. But in case
no claimant shall appear within six years from
the time of the opening of said road across any
land, all claims to damages against said company
shall be barred.
Sec. 8. And be it further enacted, That each
and every grant, right, and privilege herein
so made and given to accepted by said Atlantic
and Pacific Railroad Company upon and subject
to the following conditions, namely: That the
said company shall commence the work on said
road within two years from the approval of this
act by the President, and shall complete not less
than fifty miles per year after the second year,
and shall construct, equip, turnis and complete
the mann line OIL llc WnOlc Dy Inc lOurin
of July, ammo Domini eighteen hundred and sew
enty-ciwht.
Sec .. And be it further enacted, That the
United States make the several conditional grants
herein, and that the said Atlantic and Pacific
Railroad Company accept the same, upon the
further condition that if the said company make
any bread ofthe conditions hereof, and allow the
same 10 continue for upwards Of one year, then,
in such case, at any time hereafter, the United
States may do any and all acts and things which
may be needed and necessary to insurea speedy
completion of the said road.
See TO- And be it further enacted, That all
people OF the United States shall have the rignt
TO subscribe to the stock of the Atlantic and Pa
ciic Railroad Company until the whole capital
named in this act of Incorporation is taken up by
complying with the terms of subscription.
Sec. H. And be it further enacted, That said
Atlantic and Pacific Railroad, any part thereof,
shall be post route and military road, subject
to the of the United States for postal, militia
ry, naval, and all other government service, and
also subject to such regulations Congress may
impose restricting the charges for such govern
ment transportation.
Sec II. And be it further enacted, That the ac-
ccptance ofthe terms, conditions, and impositions
of this act by the said Atlantic and Pacific Rail-
road Company shall be signitied in writing under
the corporate seal of said company, duly executed
pursuant to the direction of its board of directors
first had and obtained which acceptance shall be
made within two years after the passage of this
act, and not afterwards, and shall be deposited in
the office of the Secretary of the Interior.
Sec. Is. And be it further enacted, That the
directors of said company shall make and pub
lish an annual report Of their proceedings and
penditures verified by the affidavts of the presi
dent and at least six of the directors, a copy of
which shall be deposited in the office of said Sec
retary OF the Interior, and they shall, from time
to time, fix, determine, and regulate the fares,
tolls, and charges to be received and paid for
transportation of persons and property on said
road, or any part thereof.
Sec. IL And be it further enacted, That the
directors chosen in pursuance to the first section
of this act SHALL so soon rs may be after their
election, elect from their own number president
and vice-presdent and said board of directors
shall, from time to time, and so soon as may be
after their election, choose treasurer and Secre
tary, who shall hold their offices at the will and
pleasure of the board of directors. The treasurer
and Secretary shall give such bonds, with such
security as the said board may require. The Sec
rotary shall, before entering upon his duty, be
sworn to the faithful discharge thereof, and said
oath shall be made q matter of record upon the
books of said corporation. No person shall be
director of said company unless he be stock
holder, and qualified to vote for directors at the
election at which he shall be chosen.
Sec. Is. And be it further enacted, That the
president, vicepresident, and directors shall hold
their offices tor the period indicated in the
years. respectively, and until Others are chosen
in their place, and qualified. In case it shall so
happen that an election of directors shall not be
made on any day appointed by the bylaws OF said
company, the corporation shall not for that eX-
cuse be deemed dissolved, but such an election
may be holden on any day which shall be appoint
cd by the directors. The directors, of whom sew
en-, including the president, shall be quorum
for The transaction of business, shall have full
power to make and prescribe such bylaws, es,
and regulations they shall deem ncedful and
proper touching the disposition and management
ofthe stock, property, estate, and effects of the
the company, the transfer of shares, the duties
and conduct OF their officers and servants touch
ing the election and meeting of the directors, and
all matters whatsoever which may appertain TO
the concerns of said company and the said
vacancy or vacancies that may occur from any
cause causes from time to time in their said
board. And the said board of directors shall
have power to appoint such engineers, agents,
and subordinatcs as may from time to time be
necessary TO carry Into effect the object Of the
company, and to do all acts and things touching
the location and construction of said road.
Sec. l6. And be 1t further enacted, That it
shall be lawful for the directors of said company
to require payment of the sum of ten per centum
cash assessment npon all subscriptions received
of all subscribers and the balance thereof at such
times and in such proportions and on such con-
the said road and telegraph lines within the time
in this act prescribed. Sixty days. previous no.
tice shall be given of the payments required, and
of the time and place of payment, by publishing
a notice once week in one daily newspaper in
each of tho cities of Boston, New York, Cincin-
natl, Saint Lonis, Memphis, and n Nashville, and
in case any stockholder shall neglect or refuse
to pay, in pursuance of such notice, the stock
held by such person shall be forfeited absolutely
orpayments that have been made on account there
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