Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-04-18
AM ACT to Charter the G1Ysnwooa
and Auq,lsta Rai1Dad Company.

AM ACT to Charter the .GreenaOool
and augusta. Rai5vad Company.
SECTION j. Bet enacted by the Sen
ats and House OF. Representatives o
the State of South Carolina, now me
and sitting in General Assembly, anc
by the authority of the same
That, for the purpose of establishing
a railroad, on the most practicable
route, from Greenwood, in the State
of South Carolina, to Augusta, in the
State of Georgia, which company
when formed, with the conditions
herein prescribed, shall. have corpo-
rate existence as body polite in
.perpetuity.
SEC. 2. That this charter, with the
rights and privileges incidental there:
to, is hereby granted to and vested
in J., eJennings, "A. M. Aiken, S.
P. Boozer, P. Fl. Bradley, G. L. Blair
J.,D. Talbert, w. X. Bradley, Nick
|lMerriwether, j. D. Neill, w. L. Parks,
u. L. White, VIM X. Blakeand 6. ].
Sheppard, of the State Of South
Carolina, and Robert H. May, Thomas
Phinizy, John D. Butt. Edward Bar
ry, Austin MullaTky, w. A. Ramsey,
T. Jefarson Jennings, Jos. T Smith
and VIM. P. Crawford, of the State
of Georgia, and ]. A.. Barker, Law
renee Cain, Everidge Cain, 7. M.
Talbert, of the State of South Caro-
lima.
SEC. 8. That for the purpose of
raising the necessary capital stock Of
said company, it,fshall be lawful 10
open books of subscription in the
State of South Carolina, in the Coun-
ties:aof AbbeviIleiand Edgefeld and,
in the State Of Georgia, .inJthe Coun-
ties of Richmond and Columbia; and
in such cities and towns as may be
deemed for the best interest of the
corporators, to an amount not exceed
ing. ones million dollars l($1, ,0O0,Oo01
inahares of. twsntydollars ($20) )-each,
to constitute q joint capital stock, for
the purpose Of constructing and car
rying into operation the aforesaid
railroad, or. any part thereof. And
it shall be the duty Of the said corpo-
rators, or majority of them, to open
books of subscription as soon after
the ratification of this Act as may be
practicable, Of which twenty days
previous notice must be given in any
newspaper or 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 ($2.) or.its equivalent, in cur
.rency, to the corporators, who shall
give a certificate for the same; and,
on the non-payment Of said install
ment, the subscription shall be void,
the corporators shall deposit the
money received by them on said cash
instalments in solvent bank, in any
of the States aforesaid, and at the
expiration of every thirty days. That
when the sum Of one hundred and
fifty thousand dollars ($l50,00O) are
subscribed, the said corporators, or
majority Of them, shall give notice Of
the time and place Of meeting for or
ganization IN some pubic newspaper
in each of the States aforesaid. But
if the sum Of one hundred and fifty
thousand dollars ($l50,0o0) shall not
be subscribed within the first appoint
ed time, the said corporators may, for
the purpose of further subscriptions
t, the capital stock, keep the books
open for such time, and at such places
as they may deem proper: Provided
That the corporators shall not keep
the books open for a longer period
than one year, at the expiration of
which time the right to solicit and
receive subscriptions shall vest in the
President and Directors Of said COM
.pany.
Sec. 4. Whenever the said sum Of
one hundred and fifty thousand dol
lars ($l50,OOO) is subscribed, in the
manner herein prescribed, the sub
scribers, their executors, .administra-
tors and assigns, shall be, and they
are hereby, declared to be, incorpora-
ted into a company, by the name Ct
the Greenwood and Augusta Rail
road Company" and may organize as
herein provided.
SEC. 5. The said company, by its
name above mentioned, shall have
perpetual succession of members, shall
hold real and personal.property, may
sue and be sued, may plead and be
ilnpleaded, may have and use a COM
mon seal, which they may break and
uss at pleasure, and make all such
bylaws, rules and regulations as they
may deem necessary for the we'll or.
lering and conducting the affairs Of
the company.
SEC. 6. At the first meeting of the
said company, to be- called by the
corporators, as above stated, and at.
all subsequent meetings, it shall be
lawful for any stakeholder to be rep
resented by proxy, whose appoint
ment shall be in writing, signed by
such stockholder; but a person not
stockholder: shall not represent such
proxy. A majority of two-thirds of
the stockholders present, or repre-:
sented by proxy, are empowered to
transact any and all business con-
nected with the company. At, the
first meeting of stockholders, and an
nually thereafteri at such time and
place as may be appointed by the by
laws, they shall elect, by ballot, to
serve one year, and until another
election, a President and ten Direct
ors. No person shall be elected a
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 ap-
ply to the first election herein pro-
1yided for. In the election of Presi-
dent and Directors, in the establish