The state chronicle., 1892-12-15

act to incorporate the Halifax and Weldon
Railroad Company" K. S. \. c. vol. IL,
m 3o5 331. This act contained no exemp-
ton from taxation and was subject to- be
altered, amended or modified by future legs-
latures. Under its provisions, the Halltax
and Weldon Railroad Company procured Its
right of way. and laid out and constructed
the road-bed and road from Weldon to Hall
fax distance of some eight miles, and en-
tirelv in the county of Halifax. The corpo-
ration had no rolling stock, but permitted
the Portsmouth Railroad Company during |
the year 1896 TO run lis cars over
its road-bed and track. In 1880 |
an act was passed entitled AN act en-
powering the Halifax and Weldon Railroad
Company to subscribe their stock to the vii
mington and Raleigh Railroad Company
r 5. n. c. vol. II, PIP. 334 1885, Pursuant
70 the provisions of this act The Halifax and
Weldon Railroad Company and the VIII
mington and Raleigh Railroad Company en-
tered into an agreement, February II, 1887
which agreement was in all respects executed
and carried into effect by those corporations
| The act authorized the stockholders of the
Halifax Company to subscribe its stock on
the books of the Wilmington Comprny, and
sections two and three were as follows:
Sec. 2. Upon the subscription of the
stock held by the stockholders in the Halifax
and Weldon Railroad Company, in the books
of the Wilmington and Raleigh Railroad
Company all the property, real and personal,
owned and held by the II alifax and Weldon
Railroad Company, shall vest in and be
owned and possessed by the Wilmington and
Raleigh Railroad Company aforesaid, and be
owned and held and possessed by the SAID
company in the same manner that all the
other property, real and personal, which has
been acquired by the said company is owned
held and possessed; and the road which may
have been built OF partly built, by the Hall
fax and Weldon Railroad Company. shall
thenceforward be deemed, to all intents, IS
well criminal as civil, a part of the Whining
ton and Raleigh Road.
Sec. 3. so soon as the subscription here
by authorized shall have been made, all the
rights and privileges acquired under the be
fore recited act of assembly, passed in lhs
year one thousand eight hundred and thirty
h three, entitled An act 70 incorporate th'
Halifax and Weldon Railroad Company,
shall cease and the corporate existence OF sal(
" company be determined"
v The terms of the agreement between tn
l. two companies were that the Wilmington
y Company should receive the assets of tn
% Halifax Company and pay its debts, and tn
n stockholders in the Halifax Company shoul
4, be entitled to their respective number {
h shares of stock in the Wilmington Company
m The complaint alleged that in the yea
id 1870 the plaintiff completed the constructlo
er of its main road from the town of Whining
o. ton through the town Of Halifax to the tow
IN of Weldon on the Roanoke river, in sal
H. State, and thereby connected its main llr
y, with the Portsmouth and Norfolk Railroa
| o,,lt t,-l lol +ba ratIC
ed ever since The defendant denied the ave
to ment as made and said that the part of II
u road between Halifax and Weldon was bui
lrs by the Halifax Company, under its charte
or and acquired by the plaintiffs in 1887 in pu
by suance of the act of 1886. The plaintiff
vn reply averred that the Halifax road was on
or partially completed, and that the Hallf
IN, Company owned no rolling stock or 9th
aid property of any description except its roa
er- bed and right way, and referred to t
po- agreement on February, 1887. Plaintiff ais
act for further reply, set up the proceedings al
Judgment in an action commenced by plai
tiff in 1860 in the Superior Court Of Half
the county against the sheriff of that county,
ine enjoin the sale of property for taxes, par
be assessed, as alleged, upon a portion Of t
18th road-bed and right of way acquired from t
the Halifax Company, and pleaded the same
ma an estoppel. 1t appeared that the agreem,
ams between the two companies above referred
nay was not registered as required by the act
,ur- 1886, but that this was subsequently dc
erty under an act approved February 5, 1873.
ors fnrther appeared that after the execution
my, the agreement of February H. 1887,
rity Halifax Company ceased to exercise any
the porate acts or maintain any corporate e:
be tence or organization, and its road bed tr:
Of
igns control of the Wilmington Compa
tive and has ever since been under its contro
per- part of its main line of road Another
ON amending the charter was approved Janu
mpt 24 1881, which authorized the capital st
- to be increased TO So, 5oo, 900, and the is
nty- OF scrip to the extent Of the increase. By
third section it was provided: That
leral scrip shall represent shares in the car
We to stock of said company as though the
main shares had been originally subscribed 70
id at the holders thereof; and the said holder
nine the scrip thus issued under the provision
such this act shall be members Of the said corp
and ton, with the same privileges, rights, and
tock- munities, and subject to the same rules
ks to regulations the original stockholder
lteral said company" By an act approved Fe
SUBJ airy IS, 1855 the name of the Wimin
Il the and Raleigh Railroad Company was chal
and to the name of the Wilmington and We
4 this Railroad Company. At the session of
rbed of the general assembly, an act was pa
y ap- amending the act Incorporating the Win
Ch of ton Company, which was duly accepte
but its stockholders, November I3, 1867.
road act provided for the opening of book
but subscriptions, to any amount deemed n
of sary, but not to exceed $25, 900 per mile
mon, the construction of any branch to the
That line. which stock was to be separate an
shall dependent of the stock of the main road
to be applied exclusively to the branch
5 and for which it was subscribed.
,tlons / he case came on in the Superior {
} the before Connor, J., who, from the plead
ch It attidavits, and exhibits, made and filed
nd in ings, in substance as heretofore stated
Id the further therein found that during the
aging 1882 the plaintiff began and complet
e and branch road connecting with its main 70
oads. point near the town Cf Halifax, in II
law County, and running to the town of SEQ
ranch Neck. in that county, which branch wa
he re- tended to the town of Greenville. il
road county during 1900, and in 1901 to the
ranch OF kmston in Lenoir Comfy, being in
rOad distance of eighty-hve miles; that the b.
what road ran through the county of Hahfa
to the twenty-three and one-half miles; that
/, un- not shown that the said branch was built
they suant to the provisions of the original cl
+ the or amendments thereto; that the branch
was operated and managed by the offic
lateral the plaintiff company, and known
wenty Scotland Neck branch of the Wilmi
all be and Weldon Railroad; that in addit
ilroad the said Scotland Neck branch the p
} as to company owned and operated in the
to in manner the following other branch ro
the State: The Clinton and Warsaw bran
lect or miles in length; the Nashville or Spring
OF Its branch, is miles in length; the Wilso
'ut OF Fayetteville branch, 73 o-Io miles in !,
ds. the Tarboro branch, II miles in length,
lie gen ing total of goo g. 10 miles the main ro
An ing Io2 miles in length; that the said /
ar one roads, except the Tarboro branch had
ee, en- built within the past ten years and til
1ngton plaintiff company also owned other
Rev ments in railroads and other properties
is act A transcript of the proceedings and
mpany ment roll in the case Of "Wilmingtc
eeding Weldon Railroad Company vs.. Jol
stock Reid" was attached to the findings
y be at The railroad commission of North
Z point lina pursuant to the provisions Of the r,
- o., Il