The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-04-10

s e n & sheI GerE.s .
Fl fRg SHPeriog HoHEts l9f each apd dIaysry,
E9Antysan asa45d tJvq States ip which ANY
PSrh R5 htbAs JaHiIdsFRsSS MS of said Company Is.
PkoHHago he,i iAa9plpasH iaplpq pted. The ) capital
sHaek 81 aaiah G9gp8EAtep shali pot exssea
PyH Rltlllt92RA Ok a99llafs. to be divided and
balg ~ ah9r9s pf oeRep php pdred dollars
eaSRe $na t4s !aotpofstop hereinbefore
%stos sassssss 81 aslaes snah soroorssors TO- e.
may, at any meeting held for that bur
pose, after twenty days notice By adyer.
tislng in suoh, newspapers as may be de.
signated by the .corporators herein
named, or majority of them, Of tie
time and place of such meeting, deter
mine the number of suoh shares to be-
subscribed for as the present capital Of
SAID corporation, or as representing the
present value Of the estate, property and
effects, purchased by them as aforesaid; !;
and they may open books of subscrip-
ton for the, same ut such times and
places. and under such regulations and
requirements as to them may seem best.
SEC. 2. The stockholders of said cor
poratIon may make all such bylaws,
rules and regulations, not inconsistent
with the laws of the United States, and
OF the States of North Carolina and
South Carolina. as shall be deemed ne.
cessary for the we'll ordering and con-
Quoting the affairs of the Company.
Ihey may prescribe the number Of Di.
rectors. and the number and character of
the officers OF said corporation, the man
ner OF their election, and the amount Of
their compensation, the term of their re-
spectlve offices, the manner in y hich any
Director or officer may be removed. and
the mode OF supplying any vacancy aris-
ing from any cause whatever. either
among the Directors or officers of said
Company.
SEC. 3. The said corporation is hereby
vested with all the rights, powers. privi-
leges and franchises granted to the Will
mlngton and Manchester Railroad Com
pany by the Act of the General Assembly
OF the State OF North Carolina incorpo-
ratlng SAID Company, and ratified the 9th
day OF January, one thousand eight
hundred and forty-seven, and by the Act
OF the General Assembly of the State of
South Carolina. Incorporating said Com.
pany, and ratified the 18th day Of De.
cember, one thousand eight hundred aud
forty-six, subject, however, to all such
limitations aud restrictions as arc in said
Acts respectively contained; and said
Acts incorporating said Wilmington aud
Manchester Railroad Company, except
SO far and in snch respects Is they are by
this Act altered or amended, and except
such provisions therein contained as
may be- considered as inapplicable and
unnecessary in the organization of the
corporation created by this Act, or in the
management or direction of its affairs,
shall be considered rs setting forth and
defining the chartered rights, powers,
privileges and franchises of this corpora
tion
SEQ. 4. The said corporation mny alter
or change the present line of the rail-
road, purchased, as aforesaid, at such
points along the line as may be deemed
most ludicious by the stockholders, and
the said corporation shall have the right
to extend said railroad, purchased. as
aforesaid, to Columbia, with branch to
connect with road to Millen, in the
State OF Georgia; and, in the event of q
want OF agreement with the owners of
any lnnds through which said railroad,
by reason OF any such change, alteration
or extension, will pass, as to the value of
such lands; or, in event of such want of
agreement with the owners of any lands
which may be deemed necessary for the
use or protection of such railroad, may
take such lands at valuation to be made
in the same manner. and in all respects
under like proceedings, regulations and
restrictions as are prescribed and pro-
vided in the Act of the General Assem-.
bly, Of the State of South Carolina, passed
September %, 1868, and entitled can
Act to declare the manner by which the
lands, or the right OF way over the lands,
OF persons or corporations. may be taken
for the construction and uses of rail ways
and other works of internal improve.
nent."
SEC 5. The said corporation shall
have power to borrow money. to issue
bonds or other evidences of any indebt-
edness 30 created, and secure the pay
ment of the same by mortgage of it's pro
perty and effects. or otherwise; may lease
or rent to any other corporation, or any
person or persons, their line of railroad,
for any term which may be agreed on,
or may. in like manner, become the
lessees of the railroad of any other Com