The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-03-03

in any Of the Copsts. Of thiss fssass. fos,I
all causes OF action. in she sensae mannop1
En- a9Pinst ether Rsll1eSa eompa pies
tEefe{a. e
ESEG z. STh& portion IL ttssaa ttssaa y5ads 81 oozzII
such ppnsofids}ed cosnnanS is s5sate,
and al its rea13estafa and o,iSeE pffeBFky
herethfore euAject 70 tar i5ps shall He j
subject TO taxation, and ID ssnS tbs
same manner and With I'VE cot as pro.
perty of other railroad conf m6anie5 IN tlsia
State. 5' - Z.
SEC. 8. Any stoekboIder Of any COM
pany hereby authorized consolidate
with any. other. who. shall refuse to con-
vert his stock into the stock of the con-
solidated company may. at any time
within thirty days after the adoption of
the said agreement of consolidation by
apply, by petition. to the ConrtSef Com
mon Pleas of the CouptYin which the,
chief Office of said company may be kept.
or to Judge of said Court in vacation,
If no such Court sits within said period,
on reasonable notice to said company to
appoint three disinterested persons to
estimate the damage, if any, done to
such stockholder by said proposed con-
solidation, and whose award, or that of
a majority of them. when confirmed by
the said Court, shall be final and conclu-
sive, and the persons 80 appointed shall
also appreise said stock of said stock
holder at the full market value thereof,
without regard to any depreciation or
appreciation In consequence of the said
consolidation; and the said company
may, at its election, either pay to the
said stockholder the amount of damages
so found and awarded, if any, or the
value OF the stock 30 ascertained and de-
termined, and upon the payment of the
value of the stock, as aforesaid, the
stockholder shall transfer the stock so
held by him to said company, to be dis
pcsed of by the directors of said compa-
ny, or to be retained for the benefit of
the remaining stockholders; and in case
the value of said stock, as aforesaid, is
not SO paid within thirty days from the
filing of said award and confirmation by
said court, and notice to said company,
the damages, so found and confirmed,
shall be Judgment against said compa-
ny, and collected as other judgments in
said court ere by law recoverable.
Sec. Q. When" any railroad shall be
sold and conveyed BY virtue of any mort
gage OK deed of trust, UT under and by
virtue of any process or decree of any
Court of this State, or Of the Circuit
Court of the United States, it may be
lawful for any company, of which the
railroad connects Herewith, to purchase
and pay for the same, to issue their own
stock Tor such an amount as the pur-
chasers may deem the full and fair value
thereof, and to hold and enjoy the rail-
road so purchased, with all the rights,
1riviIa0ac on6 frorro1,,,o,
same rights to charge for tolls transpor-
tation and car service, and subject to the
same restriction as were held, enjoyed
and limited by and in respect to the com
pany OF which the road may be SO sold.
SEC. 10. It shall and may be lawful
for any railroad company created bv,
and existing under. the laws of this
State, from time to time, to purchase
and hold the stock and bonds, or either.
of any other railroad company or com
panies chartered by, or of which the road
or roads is or are authorized to extend
into this State; and it shall be lawful for
any railroad companies to enter into con-
tracts for the purchase, use or lease of
any other railroads, upon such terms as
may be agreed upon with the company
or companies owning the same, and to
run, use and operate such road or roads
in accordance with such contract or
lease: ProUidsd, That the roads of the
companies 80 constructing or leasing
shall be directly, or by means of inter-
vening railroads, connected with each
other
SEC. IL. At all general or special
meetings or elections of the stockholders
of any railroad company Incorporated
by this State, each share of stock shall
entitle the holder thereof to one vote:
Prooided, That nothing herein contained
shall affect any other provisions of the
charter of such company except such as
relate exclusively to the number of votes
to which the holders of the shares of
stock therein may be entitled.
Sec. IL. All railroad companies in
corporated under the laws of this State
which shall relieve the State from all
liability by paying the principal and in
terest of all securities for which the
State is, or may be, liable, or by de-
posting with the Comptrolrer-Ge General
OF the State good and sufficient security
for such payment. within two years from
the passage of this Act, shall, upon the
Official certificate Of the Hop,ntrollor