The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-04-18

ton of Robert A.. Thompson, E. p. Werner, P.
L. Dean, o. ii. Doyle and A. E. Norman, as
commissioners, ard at such other places, and
under the direction of such other persons, as
the said commissioners, or a majority OF them,
may designate, for the purpose Of receiving
subscriptions to an amount not exceeding two
millions Of dollars, in shares OF one hundred
dollars each, to constitute a joint capital stock
for the purpose Of constructing and carrying
into operation the said railroad; and on each
share Of the stock the subscribers shall pay to
the commissioners, who shall be authorized to
take the. same, the sum Of fifty dollsrs in lawful
money Of the United States.
SEC. 8. That when the SUE of three hundred
thousand dollars shall have been subscribed
in the manner before specified. the subscrib.
ers shall be, and they are hereby, declared to
be O body corporate, to beknown by the name
and style Of the Tugalo and Chattanooga Bail
road Company, and may meet and organize the
said company at such time and place as may
be designated by the commissioners before
named for Walhalla.'
SEC. 4. That the said company shall have
power, and they are hereby authorized, to con-
struct one or more branches from the said road
to onneot with other roads in this State, at
such point or points as they may deem meet
and proper, and said company shall have power
to consolidate or unite with any other company
or corporation having like powers.
SEC. s. That for the purpose Of organizing
the said company, all the powers conferred by
the charter Of the Greenville and Columbia
Railroad Company on the commissioners at
GreenvilIe shall be, and they are hereby, con-
fe1red on the commissioners herein appointed
1T .Walhaia; and all the powers, rights and
privileges granted by the said charter and It's
amendments to the Greenville and Columbia
Railroad Company shall be, and they are here
by, granted to the Tugalo and Chattanooga
Railroad Company, and subject to like ~restric-
tons as are therein contained, except as to the
capital stock, the s.m necessary to authorize
organization, and the amount Of shares, and
except 30 far as mag be necessary to conform
to the special provisions OF this act: Provided,
however, That. nothing herein contained shall
be 30 construed "a to bind The State to sub.
scribe stock in said company or make any ap'
preparations to enable the said company to build
the said road, or in an! manner to loan tht
credit OF the State thereto.
SEC. G. That in the event any vacancy should
| occur in the commissioners herein appointed
| ct Walhalla, from death, refusal to serve, Of
otherwise, the senator and members Of the
House of Representatives (at the time being
from the County OF oconee shall be, n they
are hereby, authorized and empowered to sup.
ply the anne by appointment.
Sec. z. That the charter hereby granted
shall continue to endure tor. the term Of thirty
six years from the date thereof; aud this ac
shall be taken and deemed to be q public act
and all acts and parts Of acts Inconsistent
with this act be- and the same are hereby, re-
pealed: Provided, That said company shsl
commence the building Of the said road with
in two years, and have the same completed
within six years. -.
Approved, March 7tb, A. D. 1871.