®fje Htbrarp 
 
 of tfjc 
 
 tHnttoerattp of jaortf) Carolina 
 
 Cnbotoeb bp ®f)e dialectic 
 
 an& 
 
 PtJilanttropic Societies 
 
 Cp38!T.|- n&Tnll 
 
 of 
 take 
 
 U 
 
 ■■-< 
 
 mm 
 
House Bill, No. 36.] 
 
 [Ses. 1858-'9. 
 
 Introduced by Mr. Feuebee, of Camden. 
 
 Holden & Wilson, Printers to the State. 
 
 A BILL TO AMEND AN ACT, ENTITLED " AN ACT 
 TO INCORPORATE the NORTH-CAROLINA RAIL- 
 ROAD COMPANY." 
 
 Sec. 1. B 'e it enacted fa/ the General Assembly of 'the State 
 
 2 of North-Carolina, and it is hereby enacted by the authority 
 
 3 of the same, That the Charter of the "North Carolina 
 
 4 Rail Road Company " be amended in the following par- 
 
 5 ticulars, to wit: that in all meetings of the Stockholders 
 
 6 of said Company, the vote to which each stockholder shall 
 
 7 be entitled except the State, shall be according to the 
 
 8 number of shares he may hold in the proportions follow- 
 
 9 ing, to wit : for one share and not more than two, one vote y 
 10 for every two shares above two and not exceeding: ten- 
 
 : 11 one vote, for every four shares above ten, and not exceed- 
 12 ing thirty, one vote, for every six shares over thirty and 
 :13 not exceeding sixty, one vote, for every eight shares, over 
 14. sixty and not exceeding one hundred, one vote, ior every 
 R5 ten shares over one hundred and not exceeding two hun- 
 |16 dred, one vote, and for every twenty shares over two hun- 
 JlY dred, one vote. And in all general meetings of the stock- 
 '18 holders, the representative of the stock held by the State, 
 
 19 shall be entitled to cast or vote one third of the number of 
 
 20 votes, which may be cast or voted by thef individual stock- 
 
 21 holders represented in said meeting. 
 
 Sec. 2. Be it further enacted, That hereafter the State 
 2 shall appoin five Directors in said Company, and individ- 
 
 <5 
 
 (L. 
 
2 
 
 HotJSE Bill No. 36. 
 
 [1858-'9. 
 
 3 ual stockholders shall elect seven Directors (the State not 
 
 4 being allowed to vote for Directors) and each Director 
 
 5 shall be the bone fide holder and owner of shares 
 
 6 of stock in said Company, at the time of his appointment 
 
 7 or election, and shall continue to hold the same during 
 
 8 his continuance in office as a Director, and any person 
 
 9 presuming to act as a Director, not qualified as above, 
 10 shall be guilty of a misdemeanor. 
 
 Sec. 3. Be it further enacted, That the Stockholders at 
 
 2 their general annual meeting to be held in July, 1859, 
 
 3 shall determine upon the acceptance or rejection of this 
 
 4 amended Charter ; and it is hereby declared to be the 
 6 duty of the representative on the part of the State, and he 
 
 6 is hereby so instructed to vote for the acceptance of the 
 
 7 same. And every future Legislature shall have power 
 
 8 and authority to investigate the affairs of said Company 
 
 9 in such manner as they may desire. 
 
 Sec. 4. Be it further enacted, That should the State 
 
 2 transfer or in any manner dispose of her stock, or any part 
 
 3 thereof, so as to reduce her vote, if scaled below one third 
 
 4 of the votes cast by individual stockholders, then her vote 
 6 shall be reduced according to the scale aforesaid : and the 
 
 6 directors shall be apportioned between the State and the 
 
 7 stockholders in proportion to the votes that were scaled 
 
 8 as aforesaid, that could be given if all the votes were 
 
 9 cast. 
 
Photomount 
 
 Pamphlet 
 
 Binder 
 
 Gaylord Bros. 
 
 Makers 
 
 Syracuse, N. Y. 
 
 PAT. m 21, 1908 
 
 mm $~ SsSnlasBisil 
 
 ■>.'•■.■•''■- 
 
 UNIVERSITY OF N.C. AT CHAPEL HILL 
 
 00042071756 
 
 FOR USE ONLY IN 
 THE NORTH CAROLINA COLLECTION 
 
 Form No. A-368, Rev. 8/95