Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1872-12-20

GATES or east OF Gates County aud going
out into South Carolina via Columbus
county or east of Columbus, together with
the right to construct such branches Of Rail.
way as may be desired, to connect with OF
cross at grade, such Rail Roads as are now
or may be hereafter constructed, and
for The purposes and for the carrying
into effect Of the objects of this act, the said
New York, Norfolk aud Charleston Rail
| way Company, may survey and run such
route for such Railway as they may deem
practicable, and shall have th3 DOW.
er and authority to appropriate and occupy
, so much land as may be u 3cessary for the
construction Of said Railway and branches
along the route thereof Of the width Of one
hundred feet, and SO mach additional land
/ as maybe necessary for tie erection of sta
| ton houses, siGings, switches, engine
| houses, depots and all other purposes neces-
| ary forth, construction and maintain: n e
| OF the aforesaid Railway and branches, SUBJ
| ject, however, to the valuation and apprais-
! ment Of value and damage, to be detelmii-
! ed in &C ccordance with existing law.
! SEC. 2. That the capital stock of the
| said New York, Norfolk and Charleston
! Railroad Company shall consist Of fifty
/ thousand shares Of the value of one nun
/ dred dollars each, and may be increased
! from to time as n majority Of the stock
| holders may determine on, not tn exceed
| 100000 shares.
| SEC. 3. That said New 1o.k, NoIf1lk
| and Charles on Railroad Company shall
| have authority to create and issue bonds in
! sums of not less than one hundred dol
| lars each, bearing interest at Il rate not
! exceeding eight per cent, with or without
| coupons, said bonds to be secured by
! mortgages upon the railway, real estate,
| franchise, personal property, earnings,
| incomes or profits of said company.
| SEC. 4. That the cOrpOratOrs, or any ten
| of them, shall opeu books and receive sub
! scriptiOns to the capital stock Of said CON-
| pany, and when one hundred thousand
| dollars of the said capital stock shall have
! been subscribed, the subscribers thereto
| shall proceed to elect Board Of Directors,
| not exceeding nine in number, who shall
! serve until the next annual election, or
until their successors are elected.
SEC. .. That the SAID New York, Nor
folk and Charleston Railway Company shall
| have power to merge with any railway
company created by the laws of this or any
other State.
SEC. &. That said New York, Norfolk
and Charleston Railway Company shall
, have authority to contract With individuals,
firms, or corporations for the construction
and equipment CT said railways and its
branches, and may issue to said indi-
bonds of said Railway Company in pay
ment Of work or material furnished in the
construction or equipment of said railway
and its branches, as may be determined
upon by the Board Of Directors Of said
Railway Company.
SEC. :. That the management and
affairs Of said New York, Norfolk and
Charleston Railway Company shall be
vested in the Board Of Directors, to he
81 = 10 1of ,1nr-
January Of each and every year. They
shall have power to make and adopt such
rules and regulations and appoint and
create such officers as may be necessary
! for the transaction Of 4 general railway
| business.
SEC. s. That the said New York,
Norfolk and Charleston Railway Company
shall have power to lease and operate the
! road of any other railway company so
desiring, and shall have authority to trans
plrt1 passengers, f. eight or merchandise
over their own railway, its branches, or
that of any railway it may lease. upon
such term aud condition as may be de-
teImined by the Board Of Directors Of the
New York, Norfolk and Charleston Rail
way Company after the completion Of said
road, provided the mlximum ratse Of
freight shall not exceed six cents p r ton
and passenger Iates six cents per mile.
SEC. 0. That the offices of the said New
/ York, Norfolk and Charleston Railway
Company shall be AT such places as may
be designated kY the Board of Directors,
two officers 20 be citizens Of North
Carolina.
SEC. 10. That in every case OF increase
of the capital stock, every stockholder hall
be entitled TO his or her pro rata of in
creased in proportion 10 the number Of
shares held by each shareholder, ard each
stockholder shall be entitled to one vote
! for ach and every share Of stock held by
him, her or them.
SEC. IL. That the said New York, Nor
folk and Charleston Railway Company
shall construct a branch Of their road
through the town of kinston, in Lenoir
county, through Richlands, county Of
J Onslow, to Jacksonville. county of OnslOw.
SEC II. That il shall md may be lawful
for all Incorporated city OF town, Or any
county in which said railway may be con-
strucied, CT the Counties aud toWns a0ja-
cent thereto, to subscribe for such amount
Of stock in said company as they or either
Of them shall be authorized to do by the
inhabitants, in the same manner and form
! as is provided by sections IS, IL and 20 Of
+ the act to incorporate the Planters Rail
road Company, ratified March 1st, 1870.
, SEC. Is. Work must bc begun in l.
! months from the ratification Of this act, or
! the charter will be null aud void.
SEC. ii. This act shall be in force tICm
and after its ratification.
WHAT THEY THINK or Us.-As some
evidence Of the estimation in licil our city
is held by the dcnizers of other places, we
copy here below an article from tie Hills
borO' Recorder, which IS evidently from
the pen Of the editor, Mr.. } u. Cameron
who was in our city last week Oh avioit, aud
who speaks elsewhere i'll the same issue, OF
the cordial reception he met with here. The
Recorder says:
WHINING TON.
More than a generation ago, when rail
roads were an almost unprOVen experiment
on this continent, a few bold spirits of Will
mir 2ton conceived the idea of uniting their
! then little town with the system being push
ed to a completion to the North Of them,
and thus bringing the town in the main
/ current Of traffic and travel between the
North and the South. There was some
thing sublime in the conception, something
/ absolutely startling in its bOldness. That
a town If less than 5000 Inhabitants
! shoull lave undertaken the cOnstruc-
! ton Of a road of 1Gl miles in length
! ont OF the slender resources of its IN
habitants, without the light of expert
ence to guide them, and without the en-
! couraeement, drawn from the success of
! others to sustain them, was 4 step of daring
| that had then, and has had since, no paral-
! lei, and the country looked upon the at
tempt with incredulity, almost with de-
risi0n. Nevertheless, confident in the
wisdom Of their scheme, and satisfied with
the data upon which their plans were
IA from