Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1871-02-17
~ ACT TO INCORPORATE THE WILL.
MINGTOH & ONsLOw RAILROAD COn2-
MIE III G1
PAN Y.

MIMGTON & ONsLOw RAILROAD COn1-
PANY.
Section /. The General assembly Of NORTH
Carolina do enact, That for tue purpose OF con-
structing a railroad. 10 be used and operated by
steam, horse or any other motive power, and of
any gauge whatever. not to exceed four feet
eight and one-half inches. extending from the
city of Wilmington, in the county OF New Han
over to Jackson 7tlle, such point points
on New River. the county of Onslow, and to such
other places in said county the cOrporatiOn
by this act may determine
Sec 2. That o Parsley. Jr, Roger Moore, F
W kerchner, r FL CoHan, s l. Fremont, JAS E
Huggins, W L DeRosset, III Cronly, J Engei-
hard, 8 n Martin, Z Bryan, McCiatnmy.
Nixon, Emmett, DR. W Ward O Steph-
ems, r Peletier, W Spicer, Vim MoRae, Sol
Haas and Ashe, and such persons cOrpo.
rstlons as may be associated with them, as ia
hereinafter provided. are hereby constituted and
declared to be body politic and corporate by
theinapae OF the Wilmington d OnslOw Railroad
Company. with all the rights powers. privileges
and fanchises incident or belonging to corpora
tions set forth in the first, secopd third and
fourth sections of the 26th chapter OF the Re-
vised Code of North Carolina. entitled "Oorpa'
tions;" and for the purpose OF locating and con-
structing the contain plated railroad ehan have,
enjoy and exercise all the rights, powers and
franchises, and be subject to the limitations and
restrictions set forth in the sections from nine
10 thirty three. both inclusive,lof the sixtyfrst
chapter of said Revised Code, entitled internal
improvements"
Sec 8. Tha the capital stock of sc.d corpora.
ton shall be three hundred Thousand dollars,
which may be increased to any sum not exceed
ing one million of dollars, as said corporation
may from time to time determine, and the same
hall be divided into shares of fifty dollars each.
Sec 4. For the purpose of creating capital of
said company q siority of the corporators
named in the second section of this act may ap-
point commissioners at such places as they
may from time to time determine to open books
of subscription to such capital stock, and keep
the same open for Guch time or times az they
may deem expedient. under such rules and reg
ulations as they may prescribe.
| said company shall only be payable, so far rs
individual subscriber are concerned, in the cur.
rency of the United States, and five per cent. OF
| tai stock shall be paid by the subscriber At
| the time Of making such subscription.
Sec The county OF New Hanover, the count y
| of Onslow, the city of Wilmington and the sew
eral townships in eaid counties Tsspe ectively are
hereby severany and respectively allowed and
| authorized to subscribe to the capital stock OF
| said company; Prorited hotceuer. That neither
| of said counties or said city OF Wilmington shall
| sever ally subscribe for more than two thousand
| shares of said capital stock, nor shall any one
| township in either OF said countiesxsubscrlbe fol
more than four hundred CT such shares; dnc
prouided further, That the powers and authority
hereinbefore hereinafter by this section
granted shall be exercised and acted on in &C
cordance with and subject to the provisions o
| section seven of article seven OF the Consttu
| ton Of this State. The Board OF Dom
| missioners of said counties respectively, th'
] Board Of Aldermen OF said city OF Wilmington