The Democrat. (Scotland Neck, Halifax Co., N.C.) 1884-1896, 1893-03-02
Carolina rail. DAD.

LeO 0nu IcQ0lteu 10 icitu"iIh
the main line of said railroad between
Wilmington and Halifax and Its
eqipment for the three years OF
1890, 1891 and 1892, ADD TO also as
sess al! the branch iines Of sail com
psny and their equipment for the
year 1890, according TO the rate Of
Of assessments for similar property
that we're made for said Years, and
the said BOARD will report To the
State Treasurer the anoont OF such
assessment upon which the State
is entitled to collect the taxes for the
years Of 1890, 1891 and 1892 as pro>
vided for 10 this act, and The sald
Board shall also report to the proper
| authorities Of the several counties,
cities and towns the amount Of as
sessment upon which each county,
city, or town is entitled TO collect!tbe
taxes under the provisions OF this
act; and the Treasurer Of this State
IN collecting the State taxes and the
proper authorities Of the said cOun>
ties. cities and towns in collecting
| the taxes due them shall levy upon
the said assessments the same rate
OF taxation that vas levied by the
State and by the several counties,
cities and towns for the several years,
for which they are entitled to collect
taxes under the provisions of this act.
Sec. 6 That whon the said Will
ningt.n and Weldon railroad com.
pany IN Stockholders meeting Assem-.
bled shall accept this act and the
amendment. to its charter as herein>
before set forth, and shall in such
meeting, by resolution, declare its
absolute ard unqualified surrender
Of all exemption from taxation and
it'd readiness TO submit ali its proper
ty to taxation under the constitution
ald laws Of North Carolina in like
manner as other property is taxed,
and its absolute surreader Of sait
rate making power IS contained said
28 section Of its charter and it's
agreement to pay to the towns, cries,
aud counties the taxes due them
as set forth la this act ana shall have
delivered to the Secretary Of State OF
this State drly vcrefied copies II Its
acceptance OF this act aud "f sald
resoIution; and shall h1ve paid to the
treasurer Of this state all such sum-
OK suns, as. she'll be found To be due
and collectabIe by the state slder
this act, :hen this act shall operate
as full and complete dischsr &c and
relieve said Wilmington aud Weldon
railroad company from all other tax
es which might or could have been
claimed or assessed agains. 1t hy tht
state Of North Carolina or any coun-
ty, CITY, or town in his State prio: t.
January 1st, 1898.
Sec. 7. That to provide q fund
for the payment Of the attorneys EN-.
pIoyed by the state ia litigation
against said company; in making
pay ments to the counties, cities and
towns Of the amounts due each un>
der this act the said company shuil
deduct from amount Que each cOun>
ty, city, or town hfteet per cent.
which said percent the said compa>
ny shall pay into the State tre asu:y,
and the tender Of the balance to aDy
county, city, or town. In case it's &C.
ceptance is refused, shall ne dis
charge to said company from any liza.
bllity to such county, city. or town
under this act, and said company
shall. for like purposes pay into the
State treasury the SUN Of twepty-6v.
hundred dollars, which sum is equal
to one years tax ON the stocks and
credits listed by SAID company in
1891.
Sec 8. This act shall oe 10 force
| frcm and after its ratification.
REPORT OF COMMITTEE.
The Senate committee on Rail.
| roads aud Railroad Commission, IN
| joint session With toe House commit
tee, having folly and carefully cons
sidered all questions of law and fsct
involved in The question Of tax tion
of the Wilmington and Weldon rail.
road company ana the surrender to
the state OF oil rights aud lmmuDi-
ties specified in the charter Of said
company, and this bill enhodying as
it does compromise, upon just and
equitable grounds, Of all Of said
questions, and being approved Of BY
the joint committee, recommend that
it do pass. AYCoCK,
For Committee
| Cleveland's Bible.