The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-04-09
LAWS OF THE STATE.
ACTS OF THE GENERAL ASSEMBLY OF
SOUTH CAROLINA.
Published by Authority.

Published by Authority.
An AcT to Charter the Greenwood and Augusta
Railroad Company.
SECTION /. Be it enacted by the Senate and
House OF Representatives OF the State OF South
Carolina, now met and sitting in General AS
semblv, and by the authority Of the same:
That, for the purpose of establishing q rau'
road, on the most practicable route, from areen'
wood. In the State of South Carolina, to Au-
onsta. in the State of Georgia, which COM
PAW, when formed, with the conditions hefein
prescribed, shall have corporate existence as a
body polite in perpetuity.
SEC. q. That this charter, with the nights
and privileges incidental thereto. is hereby
granted to and vested in J. q. JENNINGS 8, A. NJ.
Aiken, S. P. Boozer, P. H. Bradley, c. L. Blair.
r. D. Tslbert, W. K. Bradley, Nick Merriwethei,
7. D. Neil, VIM. L. Parks, J. L. White, VIM.
Z. Blake. and G.. ]. Sheppard, OF the State OF
south Carolina, aud Robert II. May, Thomas
Phinizy, John D. Butt, Edward Barry, Austin
Mullarky, w. A. Ramsey, I. Jefferson Jen-
nines, Joseph T. Smith and VIM. P. Crawford,
of the State of Georgia, and ]. A. Barker, Law
renee Cain, Everidge Cain, T. NJ. Talbert, OF
STATE Of South Carolina.
: SEa. 8. That for the purpose OF raising the
necessary capital stock of said company, 1t
shall be lawful to open books of subscription,
in the State OF South Carolina, in the Counties
of Abbeville and Edge6eld; and, in the State OF
Georgia, in the Counties Of and
Columbia; and in such cities and towns as may
be deemed for the pest interest OF the corpora
ton, under the direction of the corporators, to
an amount not exceeding one million COLLARS,
($1,0 900, 0OO,) in shares Of twenty dollars (s2O)
each, to constitute a joint capital stock, for the
purpose Of constructing and carrying INTO OPP
Grafton the aforesaid railroad, or any part
thereof. And it shall be the duty OF the SAID
corporators, or a majority OF them, TO open
books of subscription as soon after the ratlnca-
ton OF this act as may be practicable, OF ~hlch
twenty days previous notice must DO given IN
apy newspaper OF newspapers Of the States
aforesaid; and the subscription books shall be
kept open for sixty days; that on each share OF
stock subscribed, the said subscribers shall
pay two dollars, ($2.) or it's equivalent, IN cur
rency, to the corporators, who shail give GER
tiacate for the same; and, OF the non.payment
Of. said instalment. the subscription shall be
void; the corporators shall deposit the money
received by them On said cash instruments IN
a solvent bank, in any of the States aforesaid,
and at the expiration of every thirty days.
That when the sum OF one hundred and fifty
thousand dollars (s15O. 00O) are subscribed, the
said corporators or q majority OF them, shall
give notice Of the time and place Of meeting
for organization in some public newspaper IN
each Of the States aforesaid. But if the sum
of one hundred and fifty thousand dollars
fs15O. OOe) shall not be subscribed within the
first appointed time, the said corporators may,
for the purpose Of further subscriptions to the
capital stock, keep the books open for such
time, and at such places, as they may deem
proper Provided, That the corporators shall
not keep the books open for a longer period
than one year, at the expiration Of which time
the right to solicit and receive subscriptions
shall vest in the president and directors OF
said Company.
66Cs IL VaOuCpC& WIG ooiN SoU
dred and fifty thousand dollars (s15O,OOO is
subscribed, in the manner herein prescribed,
the subscribers, their executors, administra-
tors and assigns, shall be, and they are hereby,
declsredt 10 be, incorporated into a company,
BY the name of the "GreenWood and Augusta
Railroad Company" and may organize as here
in provided.
sHo. s. The said company, by it's name above
mentioned, shall have perpetual succession or
members, shall hold real and personal proper
ty. NAV sue and be sued, may plead and be i'm
pleaded. may have and use a common seal,
which they may break aud use at pleasure, and
make all such bylaws, rules and regulations as
they may deem necessary for the we'll ordering
and conducting the affairs Of the company.
SEQ. 6. At the first meeting of the said. COM
pany, to be called by the corpoyators, as above
stated. aud at all subsequent meetings, it shall
be lawful for any stakeholder to be represented
by proxy, whose appointment shall be in
writing, eigned by such stakeholder; but
person not a %stockholder shall not represent
auch proxy. A majority of two-thirds Of the
stockholders present, or represented by proxy,
are empowered to transact any and all business
connected with the company. At the first
meeting Of stockholders, and annually there
sfter, at such time and place as may be ap-
pointed by the bylaws, they shall elect, by
ballot, to serve one year, and until another
election, o president and ten directors. No
person shall be elected president or director
who is not the owner of twenty shares, which
must have been held for three months prior TO
his election; but this does not apply to the
first election herein provided for. In the cleo
zion Of president and directors, in the estab-
lishmentoi the bylaws, and all other acts to
be done by the stockholders, in their corporate
capacity. each stockholder shall be entitled to
one vote for every paid up share OF the stock
subscribed by him.
SEQ. z. That, for the purpose OF acquiring
such lands, or right of way, as they may re-
ouire for the location and construction of said
railroad, with such depots, warehouses, sta
lions, wharves and other necessary establish
ments, or for extending or altering the same,
tho said company shall have every right. pri-
vilegeand power heretofore granted to, and
which now is or has been used or enjoyed by
any railroad company heretofore incorporated
in either of the States aforesaid; and shall,
also. be entitled to the use and benefit Of every
process and proceeding provided by law for en-
IL -.:lro,5 oopopopiaa in either 0F tho