The news & observer., 1897-02-27

pOrations. Tt may sue and be sued IN
the courts OF this State, and be subject
to the jurisdiction Of the laws thereof
as fully as if the corporation had been
originated and created under the laws
of the State OF North Carolina.
Sec. 4. 1t shall be unlawful for any for
eign railroad corporation to do business,
or to continue to do business in this State
without first having complied with the re-
quirements OF the act, any nonresident
corporation which shall on or after the
first day of May, A. d. 1897, violate the
first section Of this act, or which shall
continue to do business as a corporation
within this State, shall be guilty of a
misdemeanor for every day that it shall
so continue to do business in violation OF
this statute, and upon conviction shall
pay a fine of FIVE hundred dollars (S500).
Such indictments shall be tried in the
Superior or Criminal courts of any county
wherein such nonresident or foreign
corporation does business contrary to the
provisions of this act. That any person
who shall aid or abet or assist n non-resi-
dent corporation in doing business contra
/ ry to the provisions of this act, either
as officer or as agent, shall be guilty
of q criminal offence and upon conviction
thereof in the Superior or Criminal
courts of any county in which the cor
p0ratiOn shall do business contrary to law,
may be fined not less than one hundred
dollars (S100) or more than one thousand
dollars $4,000
/ Sec f. The North Carolina Railroad
/ Company is hereby authorized and en-
| powered to lease its property and fran
! chises to amy railroad company conduct
ing within it, directly or indirectly, and
! to make, execute and deliver any lease
! or conveyance necessary to carry into ef-
! feet the powers above granted by and
with the consent OF a majority Of it's
stockholders in general or special meet
ing assembled. Provided that he term
of said lease shall not be greater than
thirty six years.
The lease executed by the North Caro-
lima Railroad to the Southern railway i'm
1895 is hereby validated, confirmed and
approved, subject to the limitation of
time mentioned above. But this shall
not take effect until and unless the
Southern Railway Company, shall on or
before the first day Of April next make
execute and deliver to the North Caro-
lima Railroad Company by appropriate in
strument it's assent to a remission or
modification of the lease executed in
1895, whereby the duration of such lease,
from the date Of its execution shall be
reduced from the term of ninety-nine
years to a time of thirty-six.
Upon failure by the Southern to assent
to such modification on or before April
1st, it shall be the duty of the Governor,
by and with the assistance Of the AttOr-
ney General, and such additional counsel
if any, as the Governor shall deem nee
essary, to cause to be instituted an ac-
tion for the purpose Of having declared
null and void the contract Of lease exc
cuted in 1895; and the Governor shall be
empowered to pay to such counsel such
reasonable compensation as he may ad-
judge proper.
See. s. This act shall he in force from
and after IT'S ratification
The following amendments proposed
by Mr.. Scales were adopted:
Amend section by adding at the end
thereof the following words: "and until
and unless the said remission or mOd5fi-
cation OF the lease be accepted and
adopted by the Board Of Directors and
the stockholders Of the North Carolina
Railroad Company on or before the 1sr
day of June, 1897"
Amend section Z by inserting in line
3 between the words, instituted" and
"an" the following words, without Civ
ing bond or undertaking"
Amend section Z in line two, by in
serting between the words 1897 and
it'' the following words, viz: cor upon
failure Of the stockholders and direc-
tors of the North Carolina Railroad
Company to assent to the said remission
or modification of said lease before the
LIST day Of June, 1897"