Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-05-02
An se'E 20 INCORPOts 1saE
CAROLINA CEN'gfsaE. xeAsLV
COMPANY.

! SECTION /. IHc Grnerui -I2scn5}y
Of The State If North GaroiinG 10
| C"Gct rs .JoIto'rs That Silas y Mar
; til. $ T.. Fremont, Francis W
! kerclluer. Edward Matthew's, Hnratio
G. Onderdonk, Timothy =. Porter,
Andrew V. Stout, James S. iEhedbee,
Charles II. Roberts and their associ-
ates, are hereby made and constituted
4 corporation, with perpetual success
sion, TO he known by the name and
style of "IHc furoliao Central
! R0i{sroy COn12,any;." and by that
lame shall be capable OF purchasing,
; holding, selling, leasing ard conveying
! estates, real, personal and mixed, and
OF acquiring the same by gift, devise,
or otherwise, so far as shall be neces-
sary for the purposes embraced within
the scope, object and intent of this
Charter and by their corporate name
| may sue and be sued, plead and be
imp: eaded, IN any court of law or
equity in this State; and may have and
use common seal, which they shall
have power to alter at pleasure and
| shall have and enjoy all other rights,
privileges and immunities which any
other corporate bodies may, and of
right do or shall, exercise and may,
bylaws, rules and regulations as they
| may deem proper and necessary for
their government and the interest of
said Company, not inconsistent with
the Constitution and laws of this
State and Of the United States. And
they may forthwith, or when they
elect, open books of subscription to
the capital stock OF said corporation,
i'll the cityof Wilmington or elsewhere,
under such regulations as they NAV
prescribe. Said capital stock shall not
exceed ten millions of dollars, to be
divided into ten thousand shares of
! ono hundred dollars each, OF common
stock, or preferred stock, or partly of
both, with such proportions and pref
erencea in kinds and classes Of stock
as the Stockholders or Board of
Directors may determine.
SEC. 2. Said corporation 10 hereby
authorized to construct and make, or
TO purchase, hold and complete the
construction Of, & Railway from the
city OF Wilmington to or near the most
eligible point or the line C division
between this State and the State of
Tennessee or Virginia, or either or
both OF them. Provided, That should
this corporation purchase the Western
North Carolina Railroad, or in any way
obtain control of that road. it shall
not have the right to take mp the track
of any part of seid load. but shall
maintain the same ana complete it to
Ashevilic within two (2l years after
such purchase or control, and failing
to do SO, shall forfeit all rights TO con
troll the Same, and any title acquired
by such purchase,
SEC. 9. That as soon - the sum Of
five hundred thousand dollars shall
have been subscribed to said capital
stock, it shall be the duty of the per
sons named in the first sect ion of this
act, or majority Of them, TO appoint
a time for the stockholders to meet cat
Wilmington, in New Hanover county.)
Of which they shall cause notice to be
previously published, fer the space of
two weeks, m one or more newspapers.
as they may deem proper at which
time and place the said stockholders,
in person or by proxy, shall proceed to
elect nine directors of the said COM /
pany, and to make such rules, regula- /
tions and bylaws as they may deem
necessary for the government OF said !
and the transaction of its
business. TIE 4erIo.ls slected as di-
rectors at that meeting Shall se1ye suc,l
period, not exceeding one year, as the
stockholders may direct and at the
meeting the stockholders shall fix upon
the day and place where the subse-