The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-05-02
IOFFICIAL.l
Acts Passed by the State Legislature.

~ 0r COFFICIAL.l
Acts Passed by the State Legislature.
An act TO incorporate the Wateree and North
Carolina Railroad Company
SECTION l. Be enacted by The Senate and
House Of Representatives Of The State of South
Carolina, noa0 met and sitting in General As
sen6ty, and by The authority Of the same, That
William NJ. Shannon, Joseph B. Kershaw,
John NJ. DeSaussure, James Dunlap, James
A. Young, James M. Davis, and their asso-
cietes and successors, are hereby constituted
body polite and corporate, by the name
and style of the Wateree and North Carolina
Railroad Company.
SEC. 2. That the said company is hereby
authorized to construct railroad from the
town of Camden to some point on the North
Carolina line, rs nearly on a line between
Camden and the town of Goldsborough,
North Carolina, rs may be practicable; and
also railroad from the town of Camden to
the North Carolina line, in the direction of
Charlotte, North Carolina.
SEC. 3. That for the purpose of raising
the capital stock of the said company. it
shall be lawful to open books in the town OF
Camden, under the direction of James Dun
lap. James A. Young and James NJ Davis;
at Lynchwood, Kershaw County, under the
direction of l.. w. Il. Blair, John r. Shaw.
b. s. Lucas and Daniel Bethune; at Cheraw,
under the direction of Henry Melva, Alex
ander Mcqueen, L. S. Prince and Thomas
e. Rowe; at Flat Rock, Kershaw County,
under the direction of j. Ross DYE and
hemqel b. Stephenson; at Lancaster, under
the direction of James Il. Reed, John D..
Wylie. William A. Moore and W. M. Con
nors, for the purpose of receiving subscrip-
tlons to an amount not exceeding two mil
lions OF dollars, in shares of one hundred
dollars each, for the purpose of construct
ing the railroads provided for by this Act.
SEC. 4. That the amounts subscribed at
the places at which books are opened along
the proposed lines towards Goldsborough
and Charlotte, respectively, shall only be
called in, the parties required to pay the
same or regarded in any way as stockhold-
ers IN the said comapny for the purpose of
building, and in connection with the rail
road along the line where such subscriptions
are made
SEC. b. That the times and places for re-
celving such subscriptions shall be fixed by
the Commissioners in the town of Camden.
or majority of them, and shall be adver-
tlsed fol thirty days in one or more news
papers IN this State, and the books for re-
ceivlng such subscriptions shall be kept
open for sixty days at each of the places
where the same shall be opened.
SEC. 6. That on each share of the stock
subscribed, the subscriber shall pay to the
commissioner receiving such subscription
the sum OF five dollars, End no subscription
shall be valid without such payment; and at
the expiration of the time hereby prescribed
for keeping open the books, the said Com
missioner shall make q return of the SUBJ
scriptions taken by them, and the sums paid
thereon, to the Commissioners in the town
of Camden.
SEC. 7. That when the sum of three hum
dred thousand dollars shall be subscribed in
the manner herein prescribed, the said COM
pany may meet and organize at such time
and place MS may be designated by ma
lorlty OF the Commissioners herein named
tor the town of Camden, due notice having
first been given.
SEQ. 8. That for the purpose of organiz-
ing and forming this company, ali the
powers conferred by the charter of the
NORTH eastern Railroad Company on the
commissioners therein named shall be
vested IN the Commissioners named in this
Act: fTorided, The Commissioners named
at any point shall only have any power or
De called Into the exercise of any such power
In the event of subscriptions taken
and steps instituted towards building the
road along the route where such Com
missioners were required to open books;
ana all the powers. rights and privileges
granted by the charter, and the amendments
thereto, OF the Northeastern Railroad Com
pany, to that company, shall be, and the
same are hereby, granted to the Wateree
and North Carolina Railroad Company
subject to the conditions therein named. ex.
cept as to the amount of capital stock the
sum necessary to authorize organization
and except so far as the special provisions
OF this Act may otherwise require the same