Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-06-29

be taken and used, by said corpora
ton, shall consider himself aggrieved,
or likely so to be, or damaged there
by, or shall refuse to accept the COM
pensation therefor, it shall be thesdu-
ty of the Circuit Court, to be held in
the County within which said lands
are; on the application Of such owner:
or owners, or of such corporation, BY
petition, stating the facts in relation
thereto, and on such notice to the op-
posite party as such Court shall pre-,
scribe, to appoint three disinterested
persons as Commissioners, who shall,
5 sseverally, take and subscribe an oath,
before any person authorized to ad-
minister oaths, faithfully and impair
tally to perform the duties required
of them by this Act; and it shall be
the duty Of said Commissioners. or
majority of them, to make a Just
and equitable assessment or appraise-
ment Of all the loss or damage sus-
tanned, or which is likely. to be sus-
tanned, by reason of any. land, or in
terest therein, taken or used, or like,
ly to be taken or used, for said off,
ces, lines, posts, piers or abutments,
and the erection and operation'of of said
telegraph lines; and such assessment
or appraisal shall, in any proper case
or cases, determine the annual rent
or compensation to be paid by said
company for such use, or, in lieu
thereof, a sum in gross, as the COM
pensation for allowing the fixtures be-
longing to such association perma-
nently to continue, and the same to
be repaired, improved and renewed
or removed, from time to time, as such
corporation shall require, duplicates
of which said assessment or appraise-
me,t shall be reduced to writing and
signed by said Commissioners, or a
majority of them, one copy Of which
shall be delivered, to the party alleg-
ed to be injured, or likely to be, and
the other to the President of said
corporation, on demand; in case any
damage shall be adjudged to the per
son alleged to be injured or damaged,
or likely so to be, the corporation
shall pay the amount thereof. with
costs of appraisal, which said costs
shall be hquidated ascertained in
said award and said Commissioners
shall receive, for their services, two
dollars for each day they are actually
employed in making said appraiss-
ment; and upon payment of such
award the right, title, interest or pro-
perty described in said assessment. or
apportionment, shall become and be
vested in and be the property of such
corporation.
SEC. 5. The capital stock of such
corporation shall be fifty thousand
dollars, to be divided into two thou
sand shares Of twenty-five dollars
each,. which may be increased, from
time to time, to such an amount as,
and whenever a majority ofthe stock
holders present at any general meet
ingshall elect; books Of subscription
may be opened to obtain the amount
of stock first above named, at such
time and place, within this State, as
a majority of the persons first above
named shall determing, and for the
increased stock. in suca a manner as
the said corporation may deem ex
pedient and the said corporation
Shall go into operation at such time
as a majority Of the stockholders may
fix.
SEC. 6. Such corporation may lease,
sell or convey its property, rights,
privileges and franchises, or any in
terest therein, or any part thereof,
to, OF may unite with, any telegraph
company organized under or created
by the laws of this or any other
State; may acquire, by lease, pur-
chase or conveyance, the property,
rights, privileges and franchises, or
any interest,therein, or any telegraph
company organized under or created
by the laws of this or any other
State, and may make payments there
for its own stock, money, bonds or
property, or receive payment there
for in the stock, money, bonds or prop
erty Of the corporation to which the
same may be SO sold, leaned or mort
gagged, or conveyed, OF of any 9TH
er corporations: Provided, however
That no such purchase, sale, lease or
conveyance by any corporation shall
be valid until the written consent of
the holder or holders of a majority of
the capital stock shall have been OBJ
tanned.
Sec. 7. The stock subscribed for
may be issued at such price Of sub
scription, and upon such terms of
payment or exchange, as the holder
or holders Of. a majority of the stock
at such time shall determine, except
that, the first subscription price, terms
of payment, or exchange, shall be
fixed by the persons. first above NAM,
ed; and any corporation or corpora
tons may Subscribe for, purchase,
hold, sell or convey the capital stock
OF this corporation, as often, and to
as great an extent, as such corpora
ton Or corporations may deem advis-
able.
SEC. 8. That said corporation may
issue bonds for such an amount as the
officers shall fix. and may secure the
same by a mortgage upon so much Of
the property, rights, privileges and
fraachises Of said corporation as may
bc named in such mortgage, which
mortgage may be recorded in tile Of
fee OF the Register of Mesne Con-
veyance in the County of Richland,
in this State, and thereupon and
thereafter it shall become and be
lien upon all the property, rights,
privileges and franchises, or of any
n II