The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1874-07-09
Acts and Joint Resolutions Passed by the
General Assembly Of South Carolina, ut
the Session Of 1874.


General Assembly Of South Carolina, ut
the Session Of 1S73-74.
AN ACT TO INCORPORATE THE PEOPLES AC-
coMMoDATIoN RAILROAD COMPANY.
Be 1t enacted by the Senate and House OF
REPRESENTATIVES of the State of South Carolina,
now met and sitting in General Assembly, and
by the authority of the same:
SECTION 1. That O. 81. P. FAINT, K. +. Div
yer. James J. Gilmer, F. E. Harrison, W: Il.
Broyles, G. w. Maret, D. Bieman, j. T. Mlcker,
G. +. Watson, G.. Jones, Abel Robins, J. W.
Shelor, J. P. Reed, S. M. Pegg, Samuel John
son. Henry Kennedy, S. McCully, B. f. Whit
ner, B. F. Veins, John R. Cochran, and their
associates and successors, be, and they are here
by constituted as body polite and corporate,
by the name and style Of the Peoples Accom-
mediation Railroad Company.
SEC. 2. That the said company shall have
powor and authority to build and construct
railroad from a point at or near the confluence
of the Tugalo and Seneca Elvers, IN Houtn
Carolina. to the town of Walhalla, and, also, to
the town of Anderson, by the most direct and
practicable route to each of said towns; to &C
auire, by purchase or otherwise, and to hold,
own. possess and sell, or otherwise transfer,
real and personal estate 1t shall also have all
and every other power, authority, privilege and
right common or necessary to similar corpora
tiOns. not inconsistent with the laws OF this
State or the provisions of this Act.
SEC. 8. That the said corporators shall be
er o6icio Directors of said company, with the
usual powers and privileges, including the
power to fill vacancies in their body, should
any occur, until said company is fully organ
lied.
SEC. 4. That for the purpose of creating the
capital stock of said company, which shall not
exceed two millions of dollars, the said corpo-
rators, or a majority of them, are hereby au-
tterized and empowered, so soon after the pass
age of this Act as may be deemed advisable, to
appoint Commissioners to open books of sub
scriiption, at such times and places, and under
such rules and regulations, as may be pre-
scribed the capital stock of said company to
be divided into shares of one hundred dollars
each, payable in money, land, labor or material
necessary in the construction or equipment OF
said railroad, bonds, stock or other valuable
credits, in such manner, and upon such terms,
as NAV be agreed between the said company
and such subscribers.
Sec. S. That the said company shall have
full power and authority to connect with or
cross all other railroads on its proposed line /;
and. also. to unite or consolidate with other
railroads. either in or out of the State, in such
manner. and upon such terms, as may be
agreed between the companies so consolidating
Preuided. The same be not inconsistent with
the laws of this State.
Sec 6. That any County or town interested
in the construction of the Peoples Accommo:.
dation Railroad be, and is hereby, authorized
and empowered to subscribe to the capital stock
of said company, or of any company, with
which it may unite or consolidate; said sub
scription to be made in bonds of such County
or town, and to be payable in such manner as
the people or proper authorities Of such Coun-
ty or town, under the provisions of this Act,
shall deem best, determine and authorize: Pro-
v;ded, Said subscription shall not exceed five
per cent. of the assessed value of the real and
personal property in such County or town
Provided, further, That no subscription shall
be made unless majority of the qualified vo-
ters of such County or town, after due adver-
tisement of the amount to be subscribed and
the manner of its payment, shall, at an electlon
held for the purpose, cast their votes IN IaVor
of said subscription. For this purpose the
County Commissioners are hereby authorized
and empowered, Oh the written petition OF
twenty legal voters of such County or town, to
provide for the holding of such election. The
election shall be conducted IN the same man
ner as is now provided by law for general elec-
tions; and the Commissioners of Election,
within ten days after the time of holding the
same shall forward to the Board of County
Commissioners certified return, setting forth
the entire number of votes cast thereat, and
also the number of votes cast respectively for
and against making such subscription.
Sec. 7. If a majority of the entire number
of votes cast at the election shall be in favor
of making such subscription the Board of
County Commissioners shall Immediately cause
the same, and also have the same counter
signed by their clerk and sealed with their seal.
The said bonds shall be numbered and deliv-
cred to the said company on receipt of an
amount of stock of the said company equal to
the amount of the said bonds.
Sec. 8. This Act shall be deemed a public
Act, and continue in force ninety-nine years.
Approved March 8, 1874.