The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1878-05-02
Acts of the Legislature Passed at the
Session Of 1S77.78.

Acts of the Legislature Passed at the
Session Of 1S77.7S.
An ACT to Charter the Savannah VAL
ley Railroad Company.
SECTION l. Be it 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, That W. W. Hum
pbre7s, Stephen McCully, A. T. Broyles,
J. S. Murray, B. F. Whitner, S. Bleck.
ley, i. NJ. Rucker, J. G. G. Featherston,
Edwards B. Murray, DR.. R. F. Diver,
J. W. Norris, T. A. Sherard, ]. FL. Reid,
j. T. Barnes, D. L. Hall, W. J. Milford,
David Sadler, B. A. Davis, Elias j..
Earle, Levi Burriss, Kenon Breazeale,
J. Y. Fretwell, oshua Burriss and Will
liam O'Briant, of Anderson County, and
James NJ. Latimer, Sr., j. P. Moseley,
j. P. Young, 7. Baker, George S. Bur-
dett, J. B. Leroy, S. S. Baker, DR.. J. T..
Baskins, DR.. NJ. G. Taggart, A. J. Clink-
scales, W. B. Clinkscales, S. j. Hester,
Edward Calhoun, 81. H. Harper, w. D..
Mars, NJ. o. Tolman, w. r. Bradley,
Or. T. a. Wideman, G. Cade and Thos.
Thomson, Esq, of Abbeville County, and
such other persons and corporations as
may he associated with them, and their
successors and assigns, be, and they are
hereby, created body polite and corpo-
rate, by the name and style of "The Sa-
vannah Valley Railroad Company" and
by that name may sue and be sued, plead
and be impleaded, answer and be an
swered unto, in any Court of law and
equity in this State or in the United
States; may make bylaws and appoint
all necessary officers, and prescribe their
duties, and may accept, purchase, hold
and convey any property, either real or
personal, necessary for the purposes here
matter mentioned may make contracts,
have and use common seal, and do all
other lawful acts properly incident to and
connected with said corporation and me-
cessary for the control and transaction of
its business Provided, That their BY
laws be not >repugnant to the Constitu-
ton and laws of this State or of the
United States.
| Sec. g. That the said company be, and
is hereby, authorized and empowered to
construct, maintain and operate rail-
road extending from the town of Ander-
SON, South Carolina, with the privilege
of connecting with the Blue Ridge Rail
road at that point, by the way of
Lowndesville, to the city of Augusta, In
the State of Georgia, or to connect with
the contemplated Greenwood and Au:
gusta Railroad at such point on the said
railroad as may be found most suitable.
SEC. 8. That the capital stock of said
company shall be one million of dollars,
in shares of twenty dollars each, with
the privilege of increasing the capital
stock to such an amount as may be found
necessary to carry out the intention and
purposes of this Act, and the shares shall
be transferable in such manner as the
bylaws may direct: Provided, That
when the sum of two hundred thousand
dollars shall have been subscribed to the
capital stock of said company as herein
after directed, the said corporators or q
majority of them shall, within reason.
able time thereafter, appoint time and
place for the meeting Of said stockhold-
ers, Of which thirty days. notice shall be
given in such newspapers of this State
as they may deem necessary; at which
time and place said stockholders may
proceed to the organization of said COM
pany by the election of President and
nine Directors, who shall hold their Off
ces for one year and until their successors
are elected, which shall be the first
Board of Directors, and which Board
may, in their bylaws, prescribe the time
and manner of holding their subsequent
annual elections for President and Direc-
tors, subject to the approval of the stock
holders at their ensuing annual meeting.
SIC. 4. That in all conventions of the
stockholders of said company, such city
or town, County or township as may SUBJ
scribe to the capital stock thereof may
be represented by not less than three nor
more than five delegates, who shall be
chosen by convention of the taxpayers
of such city or town, County or town
ship; private stockholders representing
their own stock in person or by proxy
duly executed.
| Sec. 5. That for the purpose of raising
the capital stock of said company, it shall
be lawful to open books for private sub
scriptions at such times and places and
under the direction of such persons as
the said corporators may appoint, and
that said subscriptions to the capital
stock may be made in money, bonds,
lands, material and work az such rates
as may be agreed upon with said compa-
ny; and the said railroad company shall
have power to mortgage its property and
franchises and issue bonds on such terms
and conditions and for such purposes and
uses of said corporation as the said COM
pany may deem necessary.
! SEC. 6. That in addition to the pro-
| visions contained in the preceding Sec
ton for private subscriptions, it shall and
may be lawful for any city or town, coun-
ty or township interested in the construc.
ton of said road to subscribe to its capi-
tai stock such sum as majority of their
voters may authorize the County Com
missioners or proper authorities of such
city or town to subscribe, which sub
scription shall be made in seven per
cent. coupon bonds, payable in such in
stallments as the County Commissioners
or proper authorities of such city or
towns shall determine, and to be received
by the said company at par, said bonds
to be made payable twenty years after
the date thereof and to be of the denom-
| ination of one hundred dollars, five hum
dred dollars and one thousand dollars ;
and for the purposes of said subscription,
issuing said bonds and otherwise carry
ing out the provisions of this Act by any
township as aforesaid, the following
named townships, to wit: in the County
of Anderson, the townships Of Varennes,
Hall, Corner, Savannah and Centreville,
and in the County of Abbeville Lhe
townships of Lowndesyille, Magnolia
and Calhoun, are hereby created bodies
polite and corporate under the said
names respectively, and are vested with
ell necessary powers to carry out the
provisions of this Act, and may sue aud