Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-04-06
49, u.:co1 IL c.aond so;d ~

ratified and confirmed, ana SAID mort
gage is declared to be lien prior to
that of the State, on all property de-
scribed in said mortgage, and on the
entire line of the road aforesaid, and
oneall the properties, of said several
Companies, or which they, or either OF
them, may hereafter acquire; but moth
ing in. this Act contained shall be con-
strued to divest the State of its lien on
the estate and property Of the several
Rail Companies, or of either of them,
for its endorsement Of the bonds afore-
said, ut-said lien is postponed to and
declared to be subject and subordinate
to that Of the mortgage, hereinbefore
mentioned, to Henry Clews, Henry
Gourdin and George S. Cameron 'Trus-
tees.
Sec. S. That all other statutory or
other liens or lien, encumbrance, equi-
ties or equity, except the mortgage en-
cumbrances now upon the property, as
sets, effects, rights and franchises Of
said Greenville and Columbia Rail Road
Company, or any part thereof, and also
except the mortgage herein authorized,
shall be, and are, or is hereby, made
subsequent to the mortgage encum-
brances now in existence thereon, and
subseuuentto the one herein authorized,
so that the holders of tie bonds secured
by said mortgages, or either of them,
shall have lien and security as between
each other, according to the time said
mortgages have been or shall be record
ed, and prier lien to all other lines or
encumbrances whatsoever. any law or
laws to the contrary notwithstanding.
SEC. 6. The following clause in Sec
ton 2 of the Act of September Is, l8-
68, to authorize additional aid to the
Blue Ridge Rail Road Company, in
South Carolina, viz And further pro-
vs;dea, That the said bonds, or any part
thereof, shall not be used, unless upon
the express condition that upon appli-
cation to the Congress of the United
States, or to private capitalists, the
amount of three millions of dollars in
currency, or so much of that sum as
may be necessary, shall be furnished
in exchange, or upon the security Of
said bonds, is hereby repealed.
Sec. 7. That after the consolidation
of the Greenville and Columbia Rail
Road Company with the Blue Ridge
Rail Road Company, the bonds now
held by the Greenville and Columbia
Rail Road Company and the Blue Ridge
Rail Road Company, shall be endorsed
by the consolidated Company.
Sec. s. That if said Consolidated
Railway Company shall fail to pay its
interest on its guaranteed debt for two
| wears, it shall be the duty of the Comp
troller-General of this State, and he
shall have the power to take immediate
possession of said road, with all its ap-
purtenances, and lease the same to res
pronsible parties who shall have control
thereof, ,until the General Assembly
shall, by law, provide for the settlement
of the affairs of said Company in the
interest of all its creditors.
Sec. 9. That the said Greenville and
Columbia Rail Road Company, and the
Blue Ridge Rail Road Company, SHALL
forever, continue and be a body cor.
porate, capable Of suing and being sued
in any Court of competent jurisdiction
Sec. 10. That all Acts or parts Of
Acts, inconsistent with this Act, or any
part thereof, are, for the purposes Of
this Act, but for no other purposa, here
by amended, altered, modified, or re-
pealed, as the case may require, SO as
to conforA to the true intent and mean
ing Of this Act.
Sec. II. This Act shah take effect
Immediately.
Approved the 9th of March, A. D.,
1871.
4