Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-12-16
An act 60 Consolidate the North Cnrolina
Railroad Company and the North Wes-

An Act to Consolidate the North Cnrolina
Railroad Company and the North Yves.
! tern North Carolina Railroad Company.
, SECTION 1. The General Assembly of North
carolina do enact, That the North Oarolina Rail-
road Company, chartered by the General As.
hundred and forty-eight and eighteen hundred
and forty nine, and the North Western North
0aEoLna Railroad Company, chartered by an
eighteen hundred and eixty-e1ght, are hereby
authorized and empowered to consolidate so as
TO form and constitute one Company.
SEC. z. That at the first meeting OF the stock
holders OF the corporations aforesaid, called
after she ratification of this act, a majority of
the STOCK beng represented In person or by
proxy, each OF SAID companies shalt decide by
majority vote, according to the method prescrib-
ed IN It's charter in favor of or against the con-
soHdaton and union OF the two companies
aforesaid, and if said companies shall decide in
favor of consolidation, it ehalI be the duty of
their respective stockholders to agree upon the
terms and conditions Of the consolidation the
basis OF which shall be exchange of the pital
stock of said companies and for this purpose
each corporation may appoint q committee of
hVe stockholders, whose action shall be submit
ted to tho decision OF the stockholders Of each
company; and after their union and consolidA-
ton Is completed, all the powers, rights, privi-
lsges, immunities and franchises of the two cor
porations, conferred by their respective charters
and the various amendments thereto, shall vest
In and be conferred on the united corporations,
SEQ. g. That for the purpose of carrying the
ABOVE provisions into effect, the North Carolina
Railroad Company Is hereby authorized To-
crease it's capital stock to the sum OF four uai-
lions Ave hundred thousand dollars. OF which
sum, after the union and consolidation OF said
companies, three hundred and fifty thousand
dollars may be subscribed by individuals and
corporations, private and municipal, in such
manner and at such time and places as the Board
of Directors may order, and according to the
method prescribed in the respective charters OF
said compa les,
SEC. 4. That a?rec the consolida OF the said
companies as aforesaid, th9 corporation thereby
formed shall, as speedily possible. proceed to
complete the construction of its road, with ore
or more tracks from Greensboro, n. . 10 the
towns of Salem and Winston, ia Forsyth county.
and sthence by the mos: practicable route to
| some point on the western boundary line Of this
State, which may b9 hereafter Designated ard
determined upon by the Board OF Directors
! SEC s. That upon tho union and coneOiilat!o1
! OF the Companies aforesaid, the cDrporatIOu
thereby formed, shall be known by tn. name ana
! style OF ths North CarOlins Railroad Company
The branch OF its Railroad r@Iring from
Greensboro to Salem, AMI t!Ieocs TO til Eennes-
see boundary line, shsil be called ths Cennes-
see Division Of tue North Carolina "ai:ro<d.
! SEC 6. That al sc and pats OF act3 l.. cp,
! iliCt with this act, Gre hereby rapa-let
! SIC. Z. That this act eh%l lie III t'Tc: tom
aud :fteT it's ratification.
! This bill WSs introduced mt thc c-naf. h.
! Mr.. ". a. Smith
/ Buffers Amnesty and The Case OF Vnm.e.
The New York Tribune etlitorially says
that "a general amnesty bill, such as Gea.
Butler is to submit to the House. with an
endless list of exceptions. is not what the
country will be content with, nor what the
political situation demands. The truth is
that the bill Is misnomer, for it grants
pardon to few not already practically ex-
empted from their disabilities. It is pre-
cisely the same measure which was laid
over at the last session." In another
column the Tribune has bitter article Oh
the question of disabilities and the elec
ton of Ex-Governor Vance, OF North
Carolina, 10 the United States Senate, and
urges that it is all nonsense to suppose
that the South will be represented until he
and other Confederate leaders are admitted.
After Vance is in, says the Tribune, it will
be preposterous to perpetuate any mans
disabilities. The Tribune is evidently dis
gusted with the dillydalIyinG on this sub
ject In regard to disabilities, and those
of Vance in particular, it says I'VE urge
the earliest possible repeal of all d1sabili-
ties and test-oaths melted by the late re-
bellion. They secure no practical good,
and are a potent fundamentally for evil.
Il the dominant Democracy of North Caro-
lima have a right to be represented in Con
gress at ALL they should be represented
truly, and Vance. who, six or seven years
ago, exhorted them to fight the Yankees
till hell should be SO full of them that their
| legs would stick out Of the window, is q
man O fter their own heart. bait. San.