The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-08-05

Tho Virginia and Carolina Railroad
Company.


Company.
The following is the bill which the
Supreme Court, by manddmus, has re-
quired the Keeper Of the Rolls, p. III. Nc
Caull. Esq, to publish among the Acts OF
Assembly:
/. BE II enacted BY tie General assembly,
Of Virginia, That f. Wolfe and p. II.
Dickinson, OF the city OF New York; p.
A. Wellford, j. T. Coleman, and c. f.
Wexford, OF the State OF Virginia, their
associates, successors, and assigns, be, and
they are hereby, made and declared body
polite and corporate by the name and style
OF the Virginia and Carolina Railroad Com
pany for the purpose OF locating, con-
structing, equipping, maintaining, and
operating railroad from some point in the
city OF Richmond to such point a. may be
selected on the line between the States OF
virginia and North Carolina, in the county
OF Mecklenburg, by such route as may be
most advantageous and eXpedient.
z. said company shall have perpetual sue
cession and a common seal, which it may
renew or alter at pleasure, and shall be
entitled TO all the rights and privileges
conferred, and subject to all the restric-
tions imposed, by the Code Of Virginia,
edition OF 1S13 and acts which have been
passed amendatory thereof, so far as the
same are applicable and not inconsistent
with this act.
3. 1t shall be lawful to secure subscrip-
tions to the capital stock OF said company
in money, labor, lands, or materials: pro-
vided, that before the rights hereby con-
ferred shall become vested, and before the
actual work OF construction shall COM
mence, at least 100000 shall have been
subscribed to the stock and 90 per cent.
paid thereon; and provided further, that
there shall be deposited with the Treasurer
Of the Commonwealth, under his official
bond, $4,000, either in money or bonds
approved by the the Treasurer, to be held
10y such officer to the credit OF the presi-
dent and Board Of Directors OF said Vir-
ginia and Carolina Railroad Company, and
subject to their order when and only after
the like amount OF $4,000 has been ex-
pended upon said railroad and the same so
certified to the Treasurer OF the Common
wealth by the Railroad Commissioner,
whose duty it shall be to make such exami-
nation and certificate without delay upon
application.
L. The capital stock OF the company shall
be S500,000, divided into shares Of 500
each. In all meetings OF stockholders each
company may, with the concurrence Of
two thirds in value Of all it, stock, increase
its capital stock from time to time to on
amount necessary for constructing and
operating said railroad, such increase to he
made at a regular meeting or a meeting
called for the purpose at such place or
places and upon such notices Is may be
necessary and proper i'm order that two
thirds in value OF all the stock shall be
represented at such meeting: provided,
that the company shall at all times maintain
its principal Office in this State, and be a
Virginia corporation, subject to the iuris
diction OF the courts OF this State in all
matters OF controversy arising within the
State.
5. Said company shall have power to bOr-
row money 10 such an amount aS it may
deem proper or necessary. and TO issue for
any loan debentures or bonds Of the COM
pany, bearing interest at such rate per an
mum as the company may determine. Said
debentures may be expressed in dollars or
pounds sterling; and to secure the pay
mcnt OF such loan or loans, said company
may execute one or more mortgages or
deeds OF trust on the whole or any part OF
its property, real, personal, and mixed, its
charter, rights, franchises, and income.
6. 1t shall be lawful for said company to
construct, equip, and maintain branch
roads or tramways Of any gauge not
exceeding twenty miles in length, which
shall have all the rights and powers and be
subject to the same restrictions as the main
line.
7. The said Virginia and Carolina Rail-
road Company may, with the consent OF the
authorities OF the state of North Carolina,
extend their road to such point in that State
as they may be permitted 10 do.
8. The cOrporatOrs herein mentioned
shall have the powers and authority OF
president and board Of directors for the
purpose Of organization Of said company,
and for all other purposes until president
and board OF directors shall he selected AT a
stockholders meeting. And such meeting
shall be held upon such notice a. the said
corporators may deem proper, whenever
s1O0, 900 OF the capital stock OF said COM
panv have been subscribed. The said cor
porators may elect one OF their number
chairman, who shall. have the power ana
authority OF president Of said company
and in all matters majority OF SAID cor
porators shall control.
o. said company shall have the power 10
cross at grade, over or under, lntersect,
| ioin, or unite its railroad with any other
railroad now built or constructed, or here
after to be built or constructed, Withln
this State, at any point in its route, and
upon the grounds OF such railroad colhpa-
nv, with the ne" .Ssary turnouts, sldlnSs,
! switches, and oth,r conVenlences, III iuT-
therancc Of the objects OF its connections.
10. The said Virginia and Carolina rail-
road shall commence the work under THIS
bill within two years and complete the same
within five years from the passage OF this
act: otherwise this act shall be null ana
void.
II. This act shall be in force from its pas
sage. Ill.
The General Assembly reserves the rlgh'
to amend, alter, or repeal this charter
or FOR THE WHITE SULPHUR.-Company
uCv Guard OF the Commonwealth Cap
- VI n Dovis commanding, leave To-