The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1872-10-02

point ut or near Charleston, tC
some point at or near Georgetown
thence to some point at or near
COnwayboro', thence to some point
on the North Carolina State line
in llorry County, the particular
route Of same to be determined
upon by the company after tho
same shall have been formed.
SEC. 3. That the capital stock OF
said company shall be threo mil
lions of dollars, in shares of one
hundred dollars each, with the
privilege Of increasing the said
capital stock to such an amount
rs may be found necessary to con.
struct, equip and maintain tho
said road and the shares shall
be personal property, transferable
in such manner as the bylaws
may direct and, for tho raising
Of such capital stock, it shall be
lawful to open books Of suhscrip-
ton, at such times and places, and
under the direction Of such per-
sons, as said company may deter
mine. That tho said subscriptions
to the capital stock may bo made
. in money, bonds, lands, materials
or work. at such rates, and on
such terms as may be agreed upon
at the time Of such subscription.
a copy Of any articles of associa-
ton, signed by the incorporators
named in this Act, or any number
of them, not less than five, may
be filed in the office Of tho Score
tary Of State, and, tbcrcupon, the
persons subscribing such articles
Of association, and all persons who
shall become stockholders in such
company, shall be a corporation,
in deed and in law, for the pur-
poses herein set forth, and shall
be considered organized by such
act Of association.
SEC. 4. That tho Company here
by authorized shall be allowed six
months from the passage of this
Act in which TO tilo the articles Of
association in the Office Of the
Secretary of State, rs provided for
in Section 3, and the Rail Road
hereby authorized to be Construct
cd shall be commenced within two
years after tho passage Of this
Act, or otherwise the charter shall
| be void.
SEC. 5. That the said Rail Road
Company is hereby authorized to
construct and operate one or more
lines of tcle graph along its Rail.
way, charging and collecting such
remuneration for messages or dis
| patches rs tho President and
Board Of Directors may direct.
The said Company may connect
said line OF telegraph with the
lines of any other Company in
this State, or adjoining State and
may lease, farm out, or sell the
above right, as in the judgment of
the President aud Board of Dircc-
tors may be most advantageous to
the interest Of the Company.
SEC. 6. That the said Company
is hereby authorized and cmpow-
ercd to mortgage any or all Of its
property and franchises, and issue
bonds and preferred stock to an
amount, and on such terms and
conditions, and for such uses and
purposes Of the said corporation
as tho President and Directors
thereof deem cxpcdicnt for tho
best interests of the Company.
SEC. 7. That this said Company
is hereby authorized and en- pow
cred to merge and consolidate it's
capital stock, estate, real, personal
and mixed, franchises, rights, priv
ilogcs and property, into and with
the capital stock, estate, real, per
sonal and mixed, franchises, lights,
privileges and property Of any
other rail road company or com
panics chartered by, and organ
lied undor the laws Of this or any
other State or States, whenever
the two or moro rail road compa-
nies 80 to be merged and consoll
dated, shall or may form n contin-
uous line Of rail road with each
othcr,.or by means Of any inter
vcnlng rail road, bridge or ferry ;
and such consolidation shall or
may be effected in such manner,
and on such terms and conditions
as the President and Board Of Di-
rectors may determine.
SEC. 8. That tho said rail road
company shall be subject to tho
provisions Of an Act Of tho Gone
raj Assembly of South Carolina,
passed September 90, 1868, cnti-
tied can Act to declare tho man.
nor by which tho lands or right of
way over the lands of persons or
corporations may DO taken for tho
construction and uses Of railways
and other works Of internal i'm
provemont :" Provided, however,
That nothing herein contained
shall be 80 construed as to exempt
tho said rail road company from
tho payment of taxes.
SEC. Q. That this Act shall take
effect on and after it's passage ;
and all Acts or parts of Acts in.
consistent with on y Of tho provi-
siOns Of this Act, arc heroby ro.