The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-03

cash.
THE CHARTER.
Section first of the charter sets forth
that the name of The Inc Is IL be the
Southport, Wilmington and Western
Railroad" and that the stockholders
have agreed to subscribe the number Of
shares opposite their names. The char
Ter is for one hdndred years and the
line is to he built from Wilmington to
Southport, Il distance 0: about thirty
miles. All the usual powers fer con-
demning rights Of way, crossing ether
llEes of road. bridging streams ton
solidating with Other companies, etc,
are of course given the company.
Southport is made the headquarters
of the proposed line, with r"w"r to
establish offices and agencies else
where.
The capital stock OF the company Is
$4,000 for each mile Of the r"ad to he
constructed and is divided into a
prcportionate number Of shares ct The
par value of Si00."
The management and control of the
road is set forth in
Section II. fll.
l. James Warrington, of Phlad lphia,
g John III. Reeve, OF Wildwood, New
Jersey,
3. j. Carpenter Rhodes OF rh;ladel-
phia,
a. John c. Gossler. of Philadelphia.
s. Charles G. Warwick, of phila-
delplia,
6. Horace G.. HINES, of Philadelphia,
have been chosen, and are hereby desig
mated to be the directors of this COM
pany. with power to elect a president
from among the stockholders and to
manage the affairs of the company for
the first year; they shall fill all yacan-
cies which may occur in the mean
time in the board of directors, or in the
office of the president, and have the
general control and management of
the company until their successors shall
have been chosen as may De provided
in the bylaws of the company and en-
ter upon the discharge of their official
duties.
Section Is of the charter sets Forth
what may be of some significance and
is as follows:
Section IS. This company is author
lied to consolidate its capital stock
and merge its property and franchises
with those of any other railroad COM
pany, steamship company or transpor-
tation company, whenever the two
contracting companies to be consoli-
dated and merged shall be connected
with each other directly or by means
of one or more railroads or trans
portation lines. and such consolidation
and merger may be effected in such
manner and ON such terms as a ma
jerI.y of the stockholders may letter
mine Upon such consolidation being eff
fected. the consolidated company shall
have all the rights, privileges and fran
chises which each of tins. contracting
companies forming it heretofore held
and possessed and may establish the
corporate name of such consolidated
company as may be agreed on; Pro-
vided the railroads or transportation
lines of the two contracting companies
SO consolidated or merged shall be
connected directly or indirectly by
means of one or more intermediate rail
roads or transportation lines.
Section 10. The undersigned have
agreed and they do hereby agree, each
for himself. to and with each other.
to take the number OF SHARES of stock
in this company MS is written opposite
our respective names ana places IF
residence.
In testimony whereof VIC have fore
unto subscribed our respective names,
under our respective hands and seals,
this the Goth day of August, A. D.
1899.
Charles n. Wire, 375 shares. 1902
10Th street, Philadelphia. (Seal.)
James Warrington, one share, 203
Walnut Place, Philadelphia. CSeal)
Edward Il. Laudenslager. LAB Hol-
lywood Ave-, Philadelphia, one share.
(Seal)
John \. Reeve, Wildwood, n. j..
one share (Seal)
Ralph M. Bowman, 121 North Thir-
teenth street, Philadelphia, one share.
(Seal.)
Arthur Forbes. 927 South 18th street,
Philadelphia, one share. (Seal)
j. Carpenter Rhodes, 4,132 Chester
Avenue, Philadelphia, one share. (Seal)
VIM. w. Turner, 1871 Hamilton
street, Philadelphia, one share. (Seal.)
Charles H. Stockley, 1,213 Hilbert
street, Philadelphia, one share. (Seal)
n. J. Scott, 1,217 Hilbert street, Phila-
delphia, one share. (Seal.)
j. S. Camboron, 1,213 Filbert street
tnllaueipHla, ONE sHdIe. NoediJ
Warren Fl. Sage, 1,215 Hilbert street,
Philadelphia, one share. (Seal)
Joseph T.. DeSilver, 1,215 Hilbert
street, Philadelphia, one share. (Seal)
VIM. Il. Lesher, 1,215 Hilbert street
Philadelphia. one share. (Seal)
John G. Gossler, 2,015 Green street,
Philadelphia, one share. (Seal)
Alfred DePertinat, 81 North 18th
street, Philadelphia, one share. (Seal)
b. f. Meyer, 1,215 Hilbert street
Philadelphia one share (Seal.)
II. S. Stafford. 3,40S Spring Garden
street. Philadelphia, one share. (SeaI)
Charles G. Warwick, 10S North 63d
street, Philadelphia, one share (Seal)
w. w. Sweisfort, 1,205 Columbia
Avenue, Philadelphia, one share. (Seal)
j. G. Murtha 9th Diamond streets,
Philadelphia, one share. (Seal.)
John III. Stevens, LISP North 10Th
street, Philadelphia, one share. (SeaI.)
II. /. Rorer, 1902 North 18th street,
Philadelphia, one share. (Seal.)
VIM. T. Castle, 70S North 18th
street Philadelphia, one share. (Seal.)
Horace G.. HINES. 1899 Hilbert street,
philadelphia, one share. (SealJ