The southern enterprise. [volume] (Greenville, S.C.) 1854-1870, 1868-09-23
Sec. 1. Tbst vi,hodt y,;etsrenes. ~ ~.

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said provisions and conditions. when
ever any, contract or coptrsc;s may b,
made by the President of the said com
pany, under its seal, ard as provided
ny srid Act, and not exceeding one mil,
lion of dollars, il shall be the duty of tho
Comptroller General To endorse thereon
tha, The faith md funds Of the State are
pledged to the faithful perform nee Of
the said contract or contracts, as re
spects the punctual payment both Of
the principal and interest, according 10
the termsof said contract os contracts
PROVIDED, That so much of ssida issue
as may be necessary, not exceeding
three hundred thousand dollars, sbafI
be applied TO the redemption Of the
present bonded debt Of the said compa.
ny. T'' ....'H ~. .'' sas' .F7- = 7
Sec. 2. That the faith and funds OF
the State Of South Carolina be, and the
same are hereby pledged, to secure the
punctual payment Of any contracts
which shall be made by the Blue Ridge
t"'lroad Company, in South Carolina
from any person or persons, corporation
or eorPoratiopS TO an additional
amount, not exceeding three millions of
dollars, either In the United States .or
Europe; and when such contracts shall
De made by bond OF bonds, signed by
the President Of the said Company, un.
der its seal, and eountersigined by the
Secretary or Treasurer thereof, il shah
be the duty Of the Comptroller General
OF this Slate 10 endorse thereon thst
the faith and funds OF the State of South
Carolina are pledged TO the faithful
performance Of the said contract or
contracts, rs it respected tie .punctual
payment both Of the principal and in.
le,est, according TO The terms Of the
saId contract or contracts: Provided.
That the interest be made PAYABLE
thereon shall not exceed seven per cent.
per anDum in quarterly or half yearly
payments. And that as soon as the
Comptroller General shall have made
any such endorsement on any such con
tract, the whole estate, property and
funds in the States Of South Carolina
Georgia, North Caroliua and Tennes.
see, which the said Company may then
fos'ess OF shall afsrward acquire, sh all
thenccforth stand pledged and mort.
gagged TO the State without any further
act or deed on the part Of the Company
Tor ;he faithful and punctual perform.
ance, on the pa'; Of said Company. of
such contract, in priority and prefer
chce OF any other debt which The said
Company may thereafter create or in
cur: And Jarther prorided, That the
said bonds or any part thereof, shall
not be used unless upon the express
condition that upon application 10 the
Congress Of the United States, or to
private capitalists. The amount of three
millions Of dollars in currency, or so
innch Of tl,at sum rs may be necessary,
shall be furnished in exchange or upon
the security Of said bonds.
SEQ. 8. That the said company shall
have the right to increase the Board Of
Directors to fifteen members, Of which
Board the Governor Of the State shall
be er c6fcio a member; that there shall
be an additional officer. 20 be kno Vi n |
IS Vice,PresiGent, whose duties and
Slafy shall be prescribed by the Board,
md that in all future meetings of the
of said company, The Gov.
'rnor Of the State is hereby authorized |
o represent the stock of tho State,
'i,her In person or by the appointment
II proxies. a...- 3D.. .'-.-. =. s.-.-
Sec. 4. That the Governor of the
State is hereby authorized to advance
o the said company twenty thousand
Iollars from the Treasury OF the State
n Bills Receivable or other currency,
o repair and keep in working eondi-
ion the said road, if such amount
hould be necessary in his opinion.
Sec. 5. BE it further enacted, That
vi provisions Of the charter of the Blue
Ridge Railroad Company, and all Acts
" parts of Acts Inconsistent with this
Act be, and the same are hereby re
'ealed. '-. z= ..t~
Passed third reading IN the Senate
unanimously. In the House ordered
be engrossed+-ayes SO, nays 6.
AbyESrURER ARnEsTEp.-An italian bar