Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-06-22
Approved March 7, 1871.

ana III SeCLlOu - W reau tWeuGy-
FIVE dollars" instead of two thou
sand"
Approved March 7, 1871.
AN ACT TO Amhorisc the Formation
OF, and to Incorporate, the Tugaloo
and Chattanooga haalroad CON-
pany.
Whereas, it is desirable that there
should be connection, by railroad,
between some point on the Blue Ridge
Railroad and Chattanooga, Tennes-
see therefore,
SECTION /. Be 1t enacted, by the
Senate and House of Representatives
of the State of South Carolina, now
met and sitting in General Assembly,
and by the authority of the same,
That the formation of a corporate
Company is hereby authorized, for
the purpose of constructing a rail-
road from some pointo on the Blue Ridge
Railroad, IN Oconee County, to the
town of Chattanooga, in the State Of
Tennessee, so far as said railroad
sllalE run through this State, the said
Company to have exclusive right to
make, keep and use such railroad;
and, for the term of time hereinafter
mentioned, no other railroad shall be
constructed between the same points.
SEC 2. That, for the purpose of
raising the capital stock of said Com
pany, it shall be lawful to open books
at 'Walhalla, under the direction of
Robt. A. Thompson, E. P. Werner, P.
L. Dean, o. M. Doyle and A. E. Nor
mon, as Commissioners, and at such
other places, and under the direction
of such other persons, as the said
Commissioners, or majority Of them,
may designate, for theg purpose of
receiving subscriptions to an amount
NOT exceeding two millions. Of dollars
(S2, ,0G0,000DIin shares of one hun-;
dred dollars each, to constitutes a Joint.
capital stock, for the purpose of con-
structing and carrying into operation
tie said railroad; and, on each share
OF the stock the -subscriber shall pay
to the Commissioners who shall be
to take the same, the sum
Of FIVE dollars. in lawful money of the
United States.
SEC. 3, That when the sum of three
hundred thousand dollars [$300DO0)
shall have been subscribed, in the
,n'tnner before specified, the subscri-
bers shall be. and they are hereby,
declared to. be a body corporate, to
be known by the name and style Of
the Iugaloo and Chattanooga Rail
road Company, and may meet and
organize the said Company, at such.
time and place ss may be designated
ey the Commissioners before named
Tor Walhalla.
Sec. 4. Th the said Company
shall have power, aDd they are here
BY authorized, to construct one or
more branches from the said road to
connect with other roadsi in this State,
1t such poirts as they may deem
meet and, proper; and said Company
shall have power to consolidate or
lnite with any other company or cor
,oration having like powers
SEC. 5, That, for the;purpose of or
,anizing the. said Company, all such
oowers as are conferred by the char
er of th Greenville and Columbia
Railroad Company on the .Commis-
ioners at Greenville shall be, and
hey are hereby, conferred on the
Commissioners herein appointed at
falha la; and all the powers, rights
nd privileges granted by the said
harte and its amendments to the,
ireen vile and Columbia Railroad
'ompi my shall be, and they are here
y, 81 anted to- the Tugaloo and Chat
anoo ga Railroad Company, and sub |
sct to like restrictions as are therein |
onta ined, except as to the. capital !
;ock the sum necessary to authoriz, !
rgaI lization, and the amount Of shares, |
zceot SO far as may be necessary to |
onfi ,rm to the special provisions of
lis Act. Provided, however, That
9th ing herein contained shall be So
,na tfued as to bind The State to sub |
'ril De stock in said Cotnpany, or make
ny appropriations to enable the mid
on lpany to build the said. road, 81 |
a ny manner to loan. theecradis Of