The Charlotte Democrat., 1891-04-24
DEFERRED ARTICLES.

An Act to Amend an Act Incorporating
the GEORGETOWN & Charlotte Railroad Go.
The General Assembly of North Carolina
do enact:
Sec. 1. That there shall be a body
polite and corporate known as the
Georgetown and Charlotte Railroad Com
pany, with corporate powers and fran.
chises to the same extent as are possessed
by the North Carolina Railroad Com.
pany.
Sec. 2. The said Georgetown and Char
lotte Railroad Company shall have power
to build a railroad with one or more
tracks from Charlotte, North Carolina,
to the South Carolina line upon such
routes as may be determined, to con,
meet with railroad starting at George
town or elsewhere in South Carolina,
and running in the direction of the
North Carolina line, and for the purpose
of building the said road the said com.
pany shall have power to open books of
subscription for (30, 0,0O0) thirty thousand
shares of ($50) fifty dollars each at such
time and such places. and keep them open
for such periods of time as they may
deem proper.
Sec. 8. That c. Dowd, R. P. Waring,
Rufus Barringer, T. L. Vail, J. Watt
kirkpatrick, W. E. Ardrey and L. H.
Springs, and such other persons as they
may appoint by the Legislature of South
Carolina, are hereby appointed commits
sioners to receive subscriptions to the
capital stock of said company, any three
of whom shall have power to act, first
giving ten days notice in one or more
newspapers published in North or South
Carolina and five of said commissioners,
at any time after the books have been
opened for thirty days, shall have power
to call together the subscribers to the
capital stock of said company for the
purpose of organizing said company the
the said commissioners may after the
organization of said company, from time
to time, receive further subscriptions to
said company as they may deem proper,
and the subscriptions to said capital stock
may be made in money or land at rate
OF per cent to be agreed upon at the time
of subscription, and that each and every
person subscribing land shall execute a
deed for the same to the said company
and that all amounts subscribed, either in
land or money, shall constitute a joint
stock capital for the purpose of construct
ing and carrying into operation the rail,
road provided for by this act.
Sec. 4. That whenever the euEa CO one
hundred thousand dollars shall have been
subscribed by responsible persons, cor
porations, towns, townships or counties
in North Carolina and South Carolina,
to the capital stock of said company, the
general commissioners, the subscribers
their successors, executors, administra
tors or assigns shall be and are hereby
declared incorporated into a company
under the name and style of The George
to own and Charlotte Railroad Company,
and the commissioners shall forthwith
call together the stockholders of said
company by giving public notice in one
or mere newspapers for (10) ten days o1
the meeting, who shall proceed to organ.
ize said company, and elect not less than
nine nor more than thirteen directors, at
least seven Of whom shall reside in Meek.
lenburg county, North Carolina, who
shall serve for one year and until Others
are elected and the said directors shall
elect president from among their mum
ber also secretary and treasurer and
other necessary officers.
Sec. 5. That the county commissioners
of Mecklenburg county be and they are
hereby authorized and empowered to
exchange the stock now owned and held
by said county in the Atlantic, Tennessee
and Ohio Railroad Company for like
number of shares in the said Georgetown
and Charlotte Railroad Company, after
the same shall have been duly organized
under and by virtue of the provisions Of
this act.
Sec. 6. That the board of county com.
missioners of Mecklenburg county are
authorized and required whenever twenty
five tax payers of any township, city OF
town in their county shall petition tc
them in writing to have submitted
to the voters Of said township, city
or town q proposition to make a sub
scription for specific sum to the capi
tai stock Of said company to cause
an election to be held in said town
ship, city or town at the proper voting
place or places therein after thirty days
notice of said election by advertisement at
the court house door of said county and
at four or more public places in said
township, city or town, and to submit tt
the qualified voters of such township, city
or town the election of subscribing to the
capital stock the sum of money specified
in the written request of the tax payers
calling for said election aforesaid, a
which election those in favor Of said sub
scription shall deposit ballot on which
shall be written or printed, 'sfor subscrip
tion," and those opposed shall deposit
ballot on which shall be written o.
printed, against subscription" the re
turns of said election shall be made t,
the county commissioners on Tuesday
next succeeding the day of such election
who shall on that day canvass the sam
and if a majority of all the qualities
voters in said township, city or towl
shall be "for subscription" then the sub
scription so authorized shall be made t
the capital stock of said railroad com
pany for said township, city or town b,
the chairman of the board of county com
missioners, and that the county commits
sioners shall have power to order specis
registration for the election herein pro
vided for under the law governing elet
tions, and they shall also appoint regis
trars, judges, etc., as provided in othe
elections. s-
| Sec. z. That in payment of any sui
scription made or provided for in th
next preceding section the board of CON
missioners Of said county wherein sal
= townshin NAV he aituate. shall isSU