Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1880-01-15

to issue Bonds toad in the con
s ruction: of the same and for other
purpo es therein mentioned"
Whereas it is. desirable that the
Edge6eld Branch Railroad should be
extended to Aiken, S. c.,
Be 1t enacted by the Senate and
House of Representatives Of the State
of South Carolina, now met anil sit
ting in General Assembly, and by the
authority of the same:
SECTION l. That - 1--WE omit
namessof Corporators, and theiras-
s%ociates, be, and they are hereby in
stituted a body corporate and polite
in the name and style of the Edge
field, Trenton aud Aiken Railroad
Company; and until aaid company is
fully organized, as hereinafter direct
ed, the said .corporators shall be er
cffcio Directors Of the same, with the
usual power and privileges, including
the power to fill vacancies in said
Board of Directors Of their body cor
porate should any occur.
Sec. 2. That the said company is
authorized to construct a railroad
from the town of Edge6eld to Tren-
ton, on the Cbarlott', Columbia and
Augusta Railroad, over the bed Of
the Edgefeld Branch Railroad Com,
pany as now graded, thence to Al
ken by such route as said company
may select, with all the rights, priv
leges and immunities granted to
like corporations in the State.
Sec. 8. The said corporators shall
within thirty days after the passage
of this Act, upon ten days written
notice, signed by the President and
Secretary Of the Edgefeld Branch
Railroad, or any five of the said cor
porators ofEdgefeld, Trenton and Al
ken Railroad, and directed to the
other co~rporators of said road, meet,
at such place as may be designated
in said notice and elect a President
and ten Directors to take charge of
and manage. the business of said
Railroad company; that one-third
of the said corporators shall consti-
tute a quorum to do business, and a
majority Of such corporators as shall
Sc present shall be sufficient to elect
che President and directors Of said
said President and Direc-
TORS shall hold Office. one year and
until their successors shall be elected.
SEC. 4. That the capital stock of
said company shall be M hundred
thousand dollars, in such shares as
may be prescribed by the bylaws Of
said company, with the privilege to
increase such capital. stock to such
an amount as may be required o
construct and equip the said. rail,
road, and the stoekholders-of said
company shall be only liable to the
amount of the unpaid stock they may
have subscribed to the capital stock
of the same.
Sec 5. That for the purpose. Of
raising the capital stock. Of said COM
pany it shall be lawful for the Pres,-
dent and Directors to open books Of
subscription at Aiken, Edgefeld,
Trenton, and Charleston, under the
directions of such persons as may be
designated by the President and d.
rectors, to be paid at such times rs
such company in its bylaws direct.
SEC. 6. That the town Of Edgefeld,
Trenton and Aiken, and such town
ships in tbe Counties Of Edge6ell
and Aiken Interested in the c-1ass.S:l:
ton of said road. are hereby author
lied to subscribe to the capital stock
Of the same mannerin and form, with
the same privileges and restrictions,
as are conferred and empowered in
Sections 5. G, 7, s, g., 10, IL, and IL
of an Act entitled An Act to au.
thorize TIE formation and to incor.
porate the Laurens and Ashrille
R.ilroad," APT rovrd March 18th,
1872: Provided. That the subscrip.
ton # the Town Council of Aiken
shall not exceed the sum of five
thousand dollars and the amount
subscribed by the Town Council Of
Trenton shall not exceed the sum OF
twenty-five hundred dollars. and
the amount of stock subscribed by
any Township shall not exceed ten
per cent. Of the assessed value Of tax,
able property Of such township; And
provided further, The bond! issued BY
the towns of Aiken and Trenton and
such townships as may vote a sub.
scription to the stock of the said
road shall be in denominations oil
$25, $50, 500 and $500, aud that
the said bonds shall become dne in
series at different dates from ten to
twenty years from their lssue.
Sec. 7. That from and after the
passage of this Act it shall not be
lawful for the EdgeGeld Branch
Railroad Company to execute any
further or larger mortgages upon
said last named road for the purpose
of securing the payment Of their
bonds and interest accrued thereon
that may have been issued by the Town
Council Of Edgef>ld by virtue of
Section 5 of said Act, and it is PR
vided that mortgages already exc,
cuted by the Edge6eld Branch Rail-
road for the purpose aforesaid shall
only cover and pledge that division
of Edge6eId, Trenton AMI Aiken
Railroad lying between the towns of
Edgeield and Trenton and it is
further provided that all bonds here:
matter issued by the Town Council
of Edge6eld by virtue of the author
ity contained in said Act incorpora-
ting the said Edgefeld Branch Rail.
road shall become due in series at
different dates from ten to twenty
years from the date Of their issue,
as is provided for the bonds issued