Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1873-02-06
THE NARROW GAUGE RAILROAD.


MEMO.
THE NARROW GAUGE RAILROAD.
We have been furnished by Mr.. J. A.
Ratchford, one of the representatives in the
Legislature from this county, with the bill in:
troduced by him to incorporate the Chester
and Lenoir Narrow Gauge Railroad Compa-
ny, etc. The bill received one reading in the
House and was referred to the Committee on
Railroads. The Railroad Committee, through
Mr.. Joseph Crews, Chairman, submitted a
report, few days ago, recommending the
passage of the bill, with the following amend
ment to section eleven: "Prouided, That the
property of said Railroad Company, situated
in this State, shall be subject to taxation
during the existence of its charter" The fol-
lowing is the full text of the bill:
a BILL to incorporate the Chester and Lenoir
Narrow Gauge Railroad Company, and to au-
the Carolina Narrow Gauge Railroad Company,
and the Kings Mountain Railroad Company.
Be it enacted by the Senate and House of
Representatives of the State of South Caro-.
lima, now met and sitting in General Assem-
bly, and by the authority of the same:
Section l. That Abraham H. Davega, John
j. Mcclure, George w. Melton, John L.
Agurs, VIM. H. Brawley, VIM. H. McCorkle,
Burritt T. Wheeler, Benjamin G. Yocum,
John Lee, I. D. Witherspoon, J. A. Ratch-
ford, John L. Watson, j. H. White, and their
associate successors, are hereby constituted
body polite and corporate, by the name and
style of the Chester and Lenoir Narrow Gauge
Railroad Company.
Sec. 2. That the said company is hereby
authorized to construct a Narrow Gauge Rail-
road from the town Of Chester, by the way of
Yorkvile to some point on the line dividing
the States of North and South Carolina, in
the direction of Dallas, in the county of Cas-
ton, in the State of North Carolina; and such
company shall have power to receive, possess,
own and transfer real and personal property
and estate; to have common seal, and to
pass such bylaws, not inconsistent with the
laws Of this State, as may be necessary to
carry out the objects of the corporation; shall
be capable in law of suing and being sued,
pleading and being impleaded, and shall have
and enjoy all the rights of other corporate
bodies under the laws of this State, and have
the exclusive right to transfer and carry per.
sons, produce, merchandise and minerals on
and along such Railroad at such prices as
they may fix.
Sec. 8. That for the purpose of creating
the capital stock of the said company, which
shall not exceed two millions of dollars, A.
H. Davega, John L. Agurs, J. A. Ratchford,
VIM. H. McCorkle, B. T. Wheeler, j. H.
Smith, Joseph Herndon, or any three of them,
are hereby appointed Commissioners, whose
duty it shall be, as soon after the passage Of
this Act as may be convenient, to appoint
such Commissioners to open books of subscrip-
tion, at such places and at such times as to
them shall seem best, and under such rules
as they may prescribe The capital stock of
said company to be divided into shares of one
hundred dollars each, and the subscriptions
thereto may be received, payable in money,
land, labor or material, necessary in the con.
struction of said road, bonds, stocks or other
valuable credits, in such manner and on such
terms as may be agreed between said company
and such subscribers. 49,
Sec. 4. That whenever the sum of ten
thousand dollars shall have been subscribed
to the capital stock of said company, it shall
be the duty of the Commissioners above
named, or of any three of them, who may act,
to call general meeting of the stockholders,
after giving such notice as to them shall seem
sufficient, and at such times and places as they
shall determine, and at all general meetings
of said stockholders, not less than majority
of all the stock subscribed shall constitute
quorum for the transaction Of business; and
said stockholders, when go met in general
meeting, shall have power to elect President
and four directors for said company, whose
term Of Office shall be for one year, and until
others are chosen. In the election of presi.
dent and directors and in enacting such laws
as may be necessary; the stockholders shall
be entitled to vote as follows viz: One vote
for each share owned, not exceeding five; one
vote for every two shares above five, and not
above ten one vote for every four shares
above ten and not above twenty; one vote for
every ten shares above twenty and not above
fifty one vote for every fifty shares above
fifty and not above five hundred and one
additional vote for every one hundred shares
above FIVE hundred; no fraction shall be
counted making less than half q vote.
Sec. 5. Whenever the said sum of ten
thousand dollars is subscribed, the subscribers,
their executors, administrators and assigns
shall be, and they are hereby, incorporated
into company, and shall have all the rights
and privileges conferred upon the North East
ern Railroad by their charter, which was rat
i6ed December 16, A. D., 1851: Provided,
That said road shall be subject to the provis-
ions of an Act entitled "An.Act to declare
the manner by which the lands, or right of
way over the lands, ofpersons or corporations
may be taken for the construction and uses of
railways and other works of internal improve
ment," ratified September 22nd, A. D., 1868.
Sec. g. That the said company, and the
Kings Mountain Railroad Company shall,
upon the consent of the stockholders Of each
company, be consolidated and form one and
the same body corporate, under the name of
the Chester and Lenoir Narrow Gauge Rail-
road Company, possessing all the rights, privi.
leges, powers, immunities and franchises con-
ferred upon said companies by this Act and
the several Acts heretofore passed Incorporate
ing said companies and amending the charters
thereof, and that the gauge Of the Kings
Mountain Railroad Company be changed as
the stockholders may direct.
Sec. 7. That said Chester and Lenoir Mar.
raw Gauge Railroad Company may consoli-
date with the Carolina Narrow Gauge Rail-
road Company, corporation chartered by the
General Assembly of the State of North
Carolina, (the General Assembly of the said
State consenting) and form one and the same
body corporate under the name of the Chester
and Lenoir Narrow Gauge Railroad Compa-
ny, possessing all the rights, privileges, immu-
mites, powers and franchises herein conferred