Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1882-04-06
Afts of the 8eaislatnre.
NEW LAWS OF THE STATE.
CHARLOTTE, ANDERSON AND ATLANTA r.
ROAD COMPANY.
AN ACT to charter the Charlotte, Anderson and
Atlanta Railroad Coupany

SECTION 1. Be it enacted by the Senate and
House of Representatives Of the State of South
Carolina, now met and sitting in General AS
sembly, and by the authority of the same, That
James L. Clark, l.. NJ. Grist, G. E. Spencer,
John j. Hunter, j. A. Carroll, James Mason,
r. J. Latta, G. H. O'Leary, J. F. Hart, G. L.
Riddle, T. w. Campbell, G. L. McNeel, J. L.
H. F. Adickes, Jr., J. w. P. Hope, T. S. JEFF
ferys, of York county; J. c.. Farrar, w. R.
Briggs, D. II. Sheldon, w. S. Gregory, j. r.
Minter, G. B. Bobo Robert BedSil, H. l.. Goss,
T. 3. Jeter and F. NJ. Farr, of Union county !;
J. D. Byrd, J. S. Craig, II. y. Simpson, ].
Wash Watts, }. S. Wolfe, J. H. Sullivan, j.
b. Humbert and William Wood, Of Lanrens
county; w. G. Brown, A. j. Sturgis, B. B.
Brazeale, J. n. Brown, ". w. Humphries, n.
P. Tribble, E. NJ. Buckner, J. w. Provost,
Joseph McClosky, A. NJ. Holland and E. Pres
ton Earle, of Anderson county, and such 9TH
er persons and corporations as may be associa-
ted with them, and their successors and as
signs, be, and they are hereby, created body
polite and corporate, by the name and style OF
The Charlotte. Anderson and Atlanta Rail
road Company" and by that name may sue
and be sued, plead and be impleaded, answer
and be answered 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 ac-
cept, purchase, hold and convey any property,
either real or personal, necessary for the pur-
poses herein mentioned; may make contracts,
have and use common seal, and do all other
lawful acts properly incident to and connected
with said corporation, and necessary Tor the
control and transaction OF its business: FRO
rided, That their bylaws be not repugnant to
the Constitution and laws of this State or of
the United States. ..-.-..-.
SEC. 2 That the said Company be, and is
hereby authorizeda and empowered to construct,
maintain and operate a railroad from point
on the North Carolina State line, between
Charlotte, North Carolina, and Yorkville,
South Carolina, and extending via Yorkville,
Unionvlle, Laurens Court House, and Ander-
son. South Carolina, to point on the Georgia
State line in the direction Of Atlanta, Georgia.
SEC. 3. That the capital stock of said COM
pany shall be one million of dollars, in shares
of one hundred dollars each, with the privi-
lege of increasing the capital to such amount
as may he found necessary to carry out the III
tention and purposes Of this Act, said amount
not to exceed six millions of dollars, and the
shares shall be transferable in such manner as
the bylaws may direct: Provided, That when
the sum of one hundred thousand dollars shall
have been subscribed to the capital stock OF
said Company, as hereinafter directed, the
said corporators, or a majority Of them shall,
within a reasonable time thereafter, appoint a
time and place for the meeting of said stock
holders, of which thirty days. notice shall be
given in such newspapers in this State as they
may deem necessary at which time and place
said stockholders may proceed to the organi-
zation of said Company, by the election OF a
President and nine Directors, who shall hold
their offices for one year and until their sue
cessors are elected, which shall be the first
Board of Directors, and which Board may, III
their bylaws, prescribe the time and manner
of holding their subsequent annual elections
for President and Directors, subject to the APP
proval of the stockholders at their ensuing
annual meeting.
SEC. 4. That in all conventions of the stock
holders Of said company, such city, town, OF
| township as may subscribe 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
said city, town or township private stockhol-
ders 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 subscriptions
at such times and places and under the direc-
tion Of such persons as the said corporators
may appoint, and that said subscriptions to
the capital stock may be made in money, bonds,
lands, materials, and work, at such rates as
may he agreed upon with said Company and
the said Railroad Company shall have power
to mortgage its property, and franchises, and
issue bonds OH such terms and conditions and
for such purposes and uses of said corporation,
as the said Company may deem necessary.
SEC. 6. That in addition to the provisions
contained in the preceding Section for private
subscriptions, it shall and may be lawful for
any city, town OF township interested in the
construction Of said Road, to subscribe to its
capital stock such sum as a majority OF
the voters may authorize the County Com
missioners or proper authorities Of such city
or town to subscribe, which subscription shall
be made in seven per cent. bonds payable in
such nstallments as the County Commission
ers or proper authorities of such city or town
shall determine, and to be received by said
Company at par, said bonds to be made paya-
BILE twenty years after the date thereof, and to
be Of the denomination of one hundred dol
lars, five hundred dollars, and one thousand
dollars Provided, That all the moneys SO
subscribed by any township in York county,
shall be expended in the construction of said
railroad in said county.
SEC 7. That for the purpose of determin-
ing the amount of said subscriptions, it shall
be the duty Of the County Commissioners for
each of the Counties of York, Union, Laurens
and Anderson, upon the written application
of fifty voters in any township, specifying the
amount to be subscribed therein, to submit to
the qualified electors of each township in their
respective counties, through which said Rail-
road may be constructed, as the case may be,
the question of subscription or no subscrip-
tion to the capital stock of said company, and
they shall have power to order all election,
specifying the time, place and purpose of the
election, and to appoint three managers at
each election precinct in said townships, who
shall, without compensation, hold and con-
duct said election, at which election the bal
lots shall have written or printed thereon
either the word transcription" or "NO Sub
scription," the said County Commissioners
having first, by a resolution of their Board,
fixed the amount proposed to be subscribed,
according to the request of the petition sub
mited to them, notice of which resolution
shall be given by the Chairman of the Board,
in one or more of the newspapers published in
the county for which he shall act, for forty
days next previous to the election. And the
proper corporate authorities Of any city or
town in any of the four counties of York,
Union, Laurens and Anderson, upon the
written petition of fifty voters in any such
city or town, shall in like manner, and after
like notice, submit the question to the quail
fed electors in said city or town, and declare
the result as herein directed: Provided, That
in the towns and townships in the county of
Anderson, no election shall be ordered unless
a majority Of the owners Of real estate resi-
dent in the town or townships to be taxed,
shall first petition the County Commissioners
of said county, or the Council of such towns,
to order an election under the provisions Of
this Act and no subscriptions shall be made
therein until the requirements Of this prOYiSO