W5£n9 ;w ^■TO|iB^>BSHEw^PW^ os, ™ K "" B "PWBwpRBWP>l» BB ^ MMBBHHMHI -. ■- I •:■■■■ J3i*l +o ameni Act" -+o in cor- ponxle. VMeote>rn N.C. railroad W$t Hibxavy of tije Untberstt v of Jgortf) Carolina Ctibotoeti bp Wfyz dialectic anb Pfjilantfjropic ^octetteg Cf 385.1 . W.SZur\9 Senate Bill, No. 27.] [Ses. 1858-'9. Introduced by Mr. Edney, of Henderson. Holden & Wilson, Printers to the State. A BILL TO AMEND THE ACT PASSED AT THE SES- SION OF 1854, ENTITLED AN ACT TO INCORPO- RATE THE WESTERN NORTH-CAROLINA RAIL- ROAD COMPANY, AND THE AMENDATORY ACT THERETO, PASSED AT THE SESSION OF 1856, EN- TITLED AN ACT TO AMEND AN ACT ENTITLED AN ACT TO INCORPORATE THE WESTERN NORTH- CAROLINA RAILROAD COMPANY. Sec. 1. Be it enacted by the General Assembly of the 2 State of Worth- Carolina, and it is hereby enacted by the 3 authority of the same, That so much of the act passed at 4 the session of 1854, entitled an act to incorporate the 5 Western North-Carolina Railroad Company, and an act 6 to amend the same, passed at the session of 1856, entitled 7 an act to incorporate the Western North-Carolina Rail- 8 road Company, as provides that the railway chartered and 9 located under said acts, commencing at the town of Salis- 10 bury, on the North-Carolina railroad, and extending, the 11 first section or division, to the town of Morganton, in the 12 county of Burke, and no further ; the second section or 13 division, extending from the town of Morganton to some 14 point not more than ten miles east of the western portal 15 of the Swanannoa Tunnel ; the third section or division 16 extending throughout said line to the western terminus of 17 said road, on the French Broad river, beyond the Blue jj. 18 Ridge ; commencing at Salisbury and extending westward £ 19 to the terminus aforesaid, shall be built by sections or di- rt 20 visions, and that the second section or divisidn shall not 2 Senate Bill No. 27. [Session 21 receive State aid till the first section or division is com- 22 pleted and iu full operation, and that the remaining con- 23 secntive division of the said railway, throughout said line, 24 shall not be let to contract, or commenced, till the second 25 division shall have been completed and in full operation, 26 be and the same are hereby repealed. Sec. 2. Be it further enacted, That for the purpose of 2 carrying out the provisions contemplated in the first and 3 second sections of the original act, passed at the session of 4 1854, that the Board of Directors of said Company are 5 hereby authorized and empowered to locate and extend 6 the present location of the said Western North- Carolina 7 Railroad, from the present terminus of said location, to § wit : the western portal of the Swananoa Tunnel to the 9 present terminus of the "Western North-Carolina Railroad 10 charter, on the French Broad river, thence along the 11 valley of said French Broad to some point on the Tennes- 12 see line, at or near Paint Rock, so as to effect an immedi- 13 ate and direct communication between the Western North- 14 Carolina Railroad and the railways extending to the val- 15 ley of the Mississippi ; and for which purpose the present 16 charter of the Western North-Carolina Railroad is hereby 17 extended from its present terminus, on the French Broad 18 river, in the county of Buncombe, along the valley of the 19 said French Broad river to some point on the Tennessee 20 line, at or near Paint Rock. Sec. 3. Be it further enacted, That whenever it shall 2 appear to the Board of Internal Improvements of this State, 3 by a certificate under the seal of said Company, signed by 4 their Secretary and countersigned by their President, that 5 any sum or sums not less than two hundred thousand 6 dollars shall have been subscribed by solvent persons, 7 counties, or corporations, to the capital stock of said Com- 8 pany, the said Board of Internal Improvements shall be 9 and they are hereby authorized and required, to direct the 10 Treasurer of the State to make the further subscription on 11 behalf of the State for stock in said Company double the 12 amount of the sum so subscribed, in the capital stock of K 1858-9.] Senate Bill No. 27. 3 13 said Company, and so on from time to time, until the *4 whole sum of six millions, the capital stock of said Com- '.15 pany, shall have been subscribed ; provided, nevertheless, < 6 that the State shall not be called upon, in any one year, to "J7 pay. upon her subscription more than five hundred thou- 18 sand dollars. Sec. 4. Be it further enacted, That so soon as the fore- 2 going amendments shall be accepted by the private stock- 3 holders of said company, in a general meeting held by 4 them, to consider the same, all such clauses in the charter 5 of said company, (and no more,) as are in conflict with 6 this act, are hereby repealed, and declared null and void. Sec. "5. Be it further enacted, That if the said com- 2 pany shall accept the foregoing amendments to their char- 3 ter, said acceptance shall be certified to the board of In- 4 ternal Improvements, under the seal of the company, 5 signed by the President and countersigned by the Secreta- 6 rj - Sec. 6. Be it further enacted, That a general meeting 2 of the stockholders of said company, may be held to con- 3 sider the foregoing amendments immediately after the rat- 4 ification of this act, and the same shall be in force from 5 and after its acceptance by the private stockholders in 6 general meeting assembled. Sec. 7. Be it further enacted^ That said "Western Korth- 2 Carolina Railroad company shall be required to pay the 3 expenses incurred in the surveys made by the Greenville 4 and French Broad Railroad company. Sec. 8. Be it further enacted, That all laws and clauses 2 of laws, coming within the purview and meaning of this 3 act be, and the same are hereby repealed. UNIVERSITY OF N.C. AT CHAPEL HILL 00042093386 FOR USE ONLY IN THE NORTH CAROLINA COLLECTION c Form No. A-368, Rev. 8/95