tt)55n4 Wecta^*c \XstiLra2uk. WSt Library OF THE University of NortK Carolina THE LINDSAY PATTERSON COLLECTION Given as a memorial by his wife Cp38S. LuS Ho. Doc. No. 10.] [Ses. 1854-'55. A BILL TO INCORPORATE THE WESTERN RAILROAD COMPANY. RALEIGH: W. W. HOLDEN, PRINTER TO THE STATE. 1854. [Introduced by Mr. McKesson. — Passed first reading, or- dered to be printed, and referred to the Committee on Inter- nal Improvements. November 28, 1854.] A BILL TO INCORPORATE THE WESTERN" RAILROAD COMPANY. Sec. 1. Be it enacted by the General Assembly of the 2 State of N. C, audit is hereby enacted by the authority of 3 the same, That for the purpose of affecting a Railroad 4 Communication between the North Carolina Railroad, 5 now being built, and the Valley of the Mississippi, the for- 6 mation of a corporate company, with a Capital stock of 7 six millions of dollars, is hereby authorised, to be called S the Western Railroad company, and when formed in 9 compliance with the conditions hereinafter prescribed, to 10 have a corporate existence as a body politic for the term 11 of ninty-nine years. Sec. 2 Be it further enacted, That the said com pa- 2 ny be, and the same is hereby authorised, to construct a 3 Railroad from any point on the North Carolina Railroad 4 that they may choose, to any point on the Tennessee 5 State line, or to any point on the Little Tennessee River, 6 in Macon County, that they may determine on, after the 7 organization of the Company, and a survey under their 8 direction. Sec. 3 Be it further enacted, That, for the purpose 2 of creating the capital stock of said Company, the follow- 3 ing persons be, and the same are hereby, appointed 4 Commissioners, namely ; Hamilton C. Jones, of Salis- 5 bury, E. P. Jones, of Charlotte of Statesville, 6 of Newton, T. R. Caldwell, of Morganton, S. P. 7 Patterson, of Caldwell, Jno. G. Bynum, of Rutherford, 70 8 L. D. Childs, of Lincolnton, Wm. M, Carson, of Mari- 9 on, Jno. W. Baxter, of Henderson, James W. Patton, of 11 Ashville, Dr. Jno. Yancy, of Madison, J. W. Garland, 12 of Burnsville, R. G. A. Love, Waynesville, Wm. H. 13 Thomas, of Jackson, Geo. W. Hayes of Cherokee, and 14 Henry G. Woodfin, of Franklin in Macon County, 15 That it shall be lawful to open books in the Town of 16 Salisbury under the direction of Hon. Burton Craige, H. 17 L. Robards, Nathaniel Boyden, Charles Fisher, Hon. 18 D. F. Caldwell, A. H. Caldwell, or any three of them ; 19 at Charlotte, under the direction of James W. Osborne, 20 E. P. Jones, Joseph H. Wilson, Wm. Johnson, David 2J. Parks, and General Young 1 , or any three of them ; at 22 Statesville, under the direction of George F. Davidson, 23 W. P. Caldwell, Andrew Allison, J. W. Stockton, Dr. 24 Parks, and any three of them; at Newton, un- 25 der the direction of Jonas Bost, Loch McCorkle, Henry 2G Robinson, or any three of them ; in the town of 27 Lincolnton, under the direction of J. D. Childs, Wm. 28 Hoke, H. W. Guion, James A. Caldwell, Ramsour 29 and or any three of them ; in Rutherford- 30 ton, under the direction of Wm. M. Shipp, John G. 31 Bynum, Wm. EL Miller, Edmond Bryan, Dr. J. C. 32 Calloway, H. D. Carrier, Benjamin Hamilton, and Dr. 33 John Craton, or any three of them ; in the town of 34 Morganton, under the direction of R. C. Pearson, Wm. 35 C. Erwin, Dr. Wm. C. Tate, Tod. R. Caldwell, Wm. 36 W- Avery, James C. Smyth, Sidney Sudderth, and Jas. 37 McKesson, sr., or any three of them; in the town of Le- 3S noir, under the direction of James Harper, sr., L. M. 39 Tultle, Walter Lenoir, Wm. B. Dula, S. P. Patterson, 40 Dr. Jones, E. P. Miller, and Bogle, or any three of 41 them; in the town of Boon, under the direction of Jor- 42 dan Council, Folk, Jonathan Horton, or 43 any three of them; in the town of Marion, under the di- 44 rection of Samuel J. Neal, T. C. N. Davis, A. Higgens, i 4 1 45 A. Burgin, Wra. Murphy, J. C. Whitson, Samuel Deal, 46 Joseph Conley, and S. J. Brown, or any three of them ; 47 in the town of Shelby, under the direction of Augustus 4S Burton, or any three of them; in (he tow no f 49 Ashville, under the direction of N. W. Woodtin, J. VV. 50 Woodfm, James M. Smith, Wm. Williams, A. B. 51 Chunn, M. Patton, James A. Patton, jr., Augustus S. 52 Merriman, and E. B. Vance, or any three of them ; in 53 the town of Hendersonville, under the direction of John 54 VV. Baxter, David B. Miller, Joseph Dunlap, Benjamin 55 Posey, James Britain, and Andrew Miller, or any three 56 of them ; m the town of Burnsville, under the direction 57 ofM. P. Penland, David Coleman, J. W. Garland, J. 58 W. McElroy, Wm. Johnson, and James Shepherd, or 59 any three of them ; in Madison, under the direction of 60 Dr. Yancey, John Fagg,, A. E. Baird, David Fa- 61 rensworth, A. P. Werrill, and or any three of 62 them ; in Waynesville, under the direction of W. Welch, 63 W. Johnson, Samuel Fitzgerald, John S. Smith ; Jos. 64 Cathy, and E. B. Heron, or any three of them, in the 65 town of Franklin, under the direction of Jesse Siler, J. 66 F. Moore, Dr. H. G. Woodfm, R. D. Lowery, Stephen 67 Monday, and Thomas Angel, or any three of them ; in 6S the town of Wilkes, under the direction of A. E. Car- 69 michael, Joshua Pemell, A. Finley, Emmett, VVm. 70 Hutcheson, and any three of them whose 71 duty it shall be to direct the opening of books for sub- 72 scription of stock, at such times and places, and under 73 the direction of such persons as they or a majority of 74 them may deem proper ; and the said Commissioners 75 shall have power to appoint a Chairman of their body, 76 Treasurer, and all other officers, and to sue for and re- 77 cover all sums of money that ought, under this Act, to 78 be recovered by them. Sec. 4. Be it further enacted. That all persons who 72 2 are, or may hereafter be, authorized to open books for 3 subscription of stock, by the Commissioners herein ap- 4 pointed for that purpose, shall open said books at any 5 time after the ratification of this act, twenty days previous 6 notice being given in some one or more of the public 7 newspapers of this State, and that the said books, when 8 opened, shall be kept open for the space of forty days at 9 least, and as long thereafter as the Commissioners first 10 above named, shall direct ; and that all subscription of 11 stock shall be in shares of one hundred dollars, the sub- 12 scriber paying, at the time of making such subscription, 13 the sum of five dollars on each share thus subscribed, to 14 the person or persons authorized to receive such subscrip- 15 tion ; and, in case of failure to pay said sum, all such 16 subscriptions shall be void, if the Commissioners choose 17 to declare it, or they may direct it to be recovered by suit IS or otherwise, and, upon closing the books, all such sums 19 as shall have been thus received of subscriptions, on the 20 first cash instalment, shall be paid to the general com- 21 missioners hereinbefore named, by the persons receiving 22 them ; and for failure thereof, such person or persons 23 shall be personally liable to said general commissioners, 24 before the organization of said Company, and to the Com- 25 pany itself, after its organization, to be recovered in the 26 Superior Court of law within this State, in the county 27 where such delinquent resides, or, if he reside in any 2S other State, then in any Court in such State having com- 29 petent jurisdiction. Then the said general commission- 30 ers shall have power to call on, and require, all persons 31 empowered to receive subscriptions of stock, at any time, 32 and from time to time, as a majority of them may think 33 proper, to make a return of the stock by them respective- 34 ly received, and to make payments of all sums made by 35 the subscribers ; that all persons receiving subscriptions 36 of stock, shall pass a receipt to the subscriber or subscri- 37 bers for the payment of the first instalment, as heretofore 73 3S required to be paid ; and upon their settlement with said 39 general commissioners as aforesaid, it shall be the duty of 40 the said general commissioners, in like ir,anner, to pass 41 their receipt for all sums thus received, to the person from 42 whom received, and such receipts shall be taken and 43 held to be good and sufficient vouchers for the persons 44 holding the same. Sec. 5. Be it further enacted, That it shall be the 2 duty of said General Commissioners to direct and author- 3 ize the keeping open of books for the subscription of stock 4 in the manner above described, until the sum of two mil- 5 lions of dollars shall have been subscribed to the capital 6 stock of said company ; and as soon as the sum of two 7 millions of dollars shall have been subscribed, and the 8 first instalment of five dollars per share on said stock shall 9 have been received by the General Commissioners, said 10 company shall be regarded as formed ; and the said Com 11 missioners or a majority of them, shall sign and seal a 12 duplicate declaration to that effect, with the names of the 13 subscribers appended, and cause one of the said duplicates 14 to be deposited in the office of the Secretary of the State, 15 and thenceforth, from the closing of the books of sub- 16 scription as aforesaid, the said subscribers to the stock 17 shall form one body politic and corporate, in deed and in 18 law, by the name and style of the Western Railroad 19 Company. Sec. 6. Be it further enacted, That whenever the 2 sum of two millions of dollars shall be subscribed in man- 3 ner aforesaid, the subscribers, their executors, adminis- 4 trators, and assigns, shall be and they are hereby declared 5 to be incorporated into a Company by the name and style 6 of the Western Railroad Company, and by that name 7 shall be capable, in law and equity, of purchasing, hold- 8 ing, leasing, and conveying estates, real, personal, and 74 9 mixed, and of acquiring the same by gift or devise, so 10 far as shall be necessary for the purposes embraced with- 11 in the scope, object, and intent of this charter, and no 12 farther, and shall have perpetual succession ; and by their 13 corporate name may sue and by sued, plead and be im- 14 pleaded in any court of law and equity in the State of 15 North Carolina, and may have and use a common seal, 16 which they may alter and renew at pleasure, and may 17 have and enjoy all other rights and immunities which 18 other corporate bodies may, and of right do exercise, and 19 may make all such by-laws, rules and regulations as are 20 necessary for the government of the corporation, or affect- 21 ing the object for which it is Created, not inconsistent 22 with the Constitution and laws of the United States or of 23 the State of North Carolina. Sec. 7. Be it further enacted, That notice of pro- 2 cess upon the principal agents of said Company, or the 3 President or Directors, or any of them, shall be deemed 4 and taken to be due and lawful notice of service of such 5 process upon the Company, so as to bring it before any Court within the State of North Carolina. Sec. S. Be it further enacted, That as soon as the 2 sum of Two Millions of Dollars shall have been subscri- 3 bed, in manner aforesaid, it shall be the duty of the Gen- 4 eral Commissioners, apppointed herein, to appoint a time 5 for the Stockholders to meet at Morganton, which they 6 shall cause to be previously published, for the space of 7 thirty days, in one or more newspapers, as they may 8 deem proper, at which time and place, the said Stockhol- 9 ders, in person or proxy, shall proceed to elect twelve 10 Directors of the Company, and to enact all such by- 11 laws, rules and regulations, as may be necessary for the 12 government of the corporation and the transaction of its J 3 business, the persons elected Directors at this meeting, I 75 14 shall serve such a period as the Stockholders may direct ; 15 and at this meeting, the Stockholders shall fix on the place 16 or places, where the subsequent eleclion of Directors 17 shall be held, and such election shall thereafter be annu- 18 ally made ; but, if the day of the annual election should 19 pass without any election of Directors, the corporation 20 shall not thereby be dissolved, but it shall be lawful on 21 any other day to hold and make such eleclion in such 22 manner as may be prescribed by the rules or by-laws of 23 the corporation. Sec. 9. Be it further enacted, That the affairs of the 2 Company shall be managed and direeted by a General 3 Board, to consist of twelve Directors, to be elected by the 4 Stockholders from among their number, at the first and 5 subsequent General Annual Meetings, as presented in 6 the Eighth Section of this Act. Sec. 10. Be it further enacted, That the election of 2 Directors shall be by ballot, each Stockholder having as 3 many votes as he has shares in the stock of said Compa- 4 ny ; and the person having a majority of all the votes 5 polled ; shall be considered as duly elected ; Provided, 6 That said Company may fix any other scale of voting to 7 govern all subsequent elections. Sec. 11. Be it further enacted, That the President of 2 the Company shall be elected by the Directors from 3 among their own number, in such manner as the regu- 4 lations of the Company shall prescribe. Sec. 12. Be it further enacted, That at the first gen- 2 eral meeting of the Stockholders, directed to be called 3 under the eighth section of this Act, a majority of the 4 shares subscribed shall be represented before proceeding 5 to business ; and, if a sufficient number do not appear 6 on the day appointed, those who do attend, shall have 7 power to adjourn from time to time, until a regular meet- 8 ing shall be thus formed ; and at such meeting the Stock- 9 holders may provide, by a by-law, as to the number of 10 Stockholders, and the amount of stock to be held by 11 them ; which shall constitute a quorum for the transac- 12 tion of business at all subsequent regular or occasional 13 meetings of stockholders and directors. Sec. 13. Be it further enacted, That at all elections, 2 and upon all votes taken, in any general meeting of the 3 stockholders, upon any by-law or any of the affairs of 4 said Company, each share of stock shall be entitled to 5 one vote, and that any stockholder in said Company may 6 vote by proxy, and proxies may be verified in such man- 7 ner as the stockholders by law may prescribe. Sec. 14. Be it further enacted, That the general 2 commissioners shall make their return of the shares of 3 stock subscribed for, at the first general meeting of stock- 4 holders, and pay over to the directors elected at said meet- 5 ing, or their authorized agents, all sums of money re- 6 ceived from subscribers ; and, for failure thereof, shall be 7 liable to said Company ; to be recovered at the suit of 8 said Company, in any of the Superior Courts of law in 9 this State, within the county where such delinquent or 10 delinquents may reside, and in like manner from said 11 delinquent or delinquents executors or administrators, in 12 case of his or her death. Sec. 15. Be it further enacted, That the Board of 2 Directors may fill all vacancies which may occur in it, 3 during the period for which they have been elected, and, 4 in the absence of the President, may appoint one, pro 5 tempore, from among their number. 77 Sec. 16. Be it further enacted, That all contracts or 2 agreements, authenticated by the Preside!}*, and Secretary 3 of the Board of Directors, shall be binding on the Com- 4 pany, without a seal, or such a mode of authentication 5 may be used as the Company, by their by-laws, may 6 adopt. Sec. 17. Be it further enacted, That the Company 2 shall have power, and may proceed to construct, as 3 speedily as possible, a Railroad, with one or more tracks, 4 to be used with steam power, which may be extended 5 from such point on the North Carolina Railroad as the 6 Company herein incorporated shall fix upon, to such 7 point on the Tennessee State line, or Tennessee River, S in Macon County, as the said Company shall determine; 9 said Company may use any section or part of said road 10 made by them, before the whole of said road is com- 11 pleted. Sec. 18. Be it further enacted, That the said Com- 2 pany shall have the sole and exclusive right of convey - 3 ance or transportation of persons, goods, merchandise and 4 produce over the said Railroad, to be by them construct- 5 ed, at such charges as may be fixed on by a majority of 6 said Company. Sec. 19. Be it further enacted, That the said Com- 2 pany may, when they see fit, farm out their right of 3 transportation over said Railroad, subject to the rules 4 above mentioned, and the said Company, and every one 5 who may have received from them the right of transpor- 6 portation of goods, wares and 'merchandise, over the said 7 Railroad, shall be deemed and taken to be a common S carrier, as respects all goods, wares, produce and merch- 9 andise entrusted to them for transportation. 78 Sec. 20. Be it further enacted, That the Board of Di- 2 rectors may call for the payment of the sums subscribed as 3 stock in said Company, in such instalments as the inter- 4 est of said Company may, in their opinion, require ; the 5 call for each payment shall be published in one or more 6 newspapers published in this State, for at least one month 7 before the day of payment ; and, on failure of anystock- 8 holder to pay each instalment, as thus required, the Di- 9 rectors may sell, at public auction, on a previous notice 10 often days, for cash, all the stock subscribed for in said 11 Company by such stockholder, and convey the same to 12 the purchaser at said sale ; and if the said sale of stock do 13 not produce a sum sufficient to pay off the incidental ex- 14 penses of said sale, and the entire amount due to said 15 Company for such subscription of stock, then, in that 16 case, the whole of such balance shall be held as due at 17 once to said Company, and may be recovered of such IS stockholder, or his executor, administrator or assigns, at 19 the suit of said Company, either by summary motion in 20 any Court of Superior jurisdiction in the county where 21 the delinquent resides, on a previous notice of ten days 22 to such delinquent subscriber, or by action of assumpsit 23 in any court of competent jurisdiction, or by a warrant 24 before a Justice of the Peace, when the sum does not ex- 25 ceed one hundred dollars • and in case of the assignment 26 of stock, before the whole amount has been paid to the 27 Company, then for all sums due on such stock, both the 28 original subscriber, and the first of all subsequent as- 29 signees, shall be liable to the Company, and the same 30 may be recovered as above described. Sec. 21. Be it further enacted, That the debt of 2 stockholders due to the Company for stock therein, ei- 3 (her as original proprietor, or as first or subsequent as- 4 signee, shall be considered as of equal dignity with judg- 5 ments, in the distribution of assets of a deceased stockhol- 6 der, by his personal representatives. 79 Sec. 22. Be it further enacted, That said Company 2 shall issue certificates of stock to its members ; and said 3 stock may be transferred in such manner and form as 4 may be directed by the by-laws of the Company, Sec. 23. Be it further enacted, That the said compa- 2 ny may at any time increase its capital to a sum sufficient 3 to complete said road, not exceeding 4 dollars, by opening books for the subscription of stock, or 5 by selling such new stock, or by borrowing on the credit 6 of the company, and on the mortgage of its charter and 7 works ; and the manner in which the same shall be 8 done, in either case, shall be prescribed by the stockhol- 9 ders in a general meeting. Sec. 24. Be it further enacted, That the board of di- 2 rectors shall, once in every year at least, make a full re- 3 port on the state of the Company and its affairs, to agen- 4 eral meeting of the stockholders, and oftener if required 5 by a by-law ; and shall havepowerto call a general meet- 6 ing of the stockholders, when the board may deem it ex- 7 pedient ; and the Company may provide, by their by- 8 laws, for occasional meetings being called, and prescribe 9 the mode thereof. Sec. 25. Be it further enacted, That the said Com- 2 pany may purchase, have and hold, in fee, or for a term 3 of years, any lands, tenements, or hereditaments, which 4 may be necessary for the said road, or the appurtenances 5 thereto, or for the erection of depositories, store houses, 6 houses for the officers, servants or agents of the Company, 7 or for work shops or foundries, to be used for the said 8 Company, or for procuring stone or other materials nec- 9 essary for said Company, in the construction or repairs of 10 the road, or for effecting transportation thereon, and for 11 no other purposes. 80 Sec. 26. Be it further enacted, That the Company 2 shall have the right, when necessary, to construct the said 3 road across or along any public road or water course : 4 Provided, That said Company shall not obstruct any 5 public road, without constructing another equally as con- 6 venient and good. Sec. 27. Be it further enacted, That when any lands 2 or right of way be required by said Company, for the 3 purpose of constructing their Road, and for the want of 4 agreement as to the value thereof, or from any other 5 cause, the same cannot be purchased from the owner or 6 owners, the same may be taken at a valuation to be made 7 by five commissioners, or a majority of them, to be ap- 8 pointed by any Court of record having common law ju- 9 risdiction in the county where some part of the land or 10 right of way is situated ; in making the said valuation, 11 the said commissioners shall take into consideration the 12 loss or damage which may accrue to the owner or own- 13 ers in consequence of right of way being surrendered, and 14 the benefit and advantage, he, she or they, may receive 15 from the erection or establishment of the Railroad or 16 work, and shall state particularly the value and amount 17 of each ; and the excess of loss and damage, over and 18 above the advantage and benefit, shall form the measure 19 of valuation or right of way, Provided, Necertheless, 20 That if any person or persons over whose land the Road 21 may pass shall be dissatisfied with the valuation of said 22 commissioners, then, and in that case, the persou or per- 23 sons so dissatisfied, may have an appeal to the Superior 24 Court, in the county where the said valuation has been 25 made, or in either county in which the land lies, when 26 it may lie in more than one county, under the same rules, 27 regulations and restrictions, as in appeals from judg- 28 ments of justice of the peace ; the proceedings of the 29 said commissioners, accompanied with a full description 81 30 of said land or right of way, shall be returned, under the 31 hands and seals of a majority of the commissioners, to 32 the Court from which the same issued ; there to remain 33 a matter of record ; and the lands or light of way so 34 valued by the said commissioners, shall vest in said Com- 35 pany, so long as the same shall be used for the purposes 36 of said Railroad, as soon as the valuation may be paid, 37 or when refused, may have been tendered ; Provided, 38 That on application for the appointment of commisson- 39 ers, under this section, it shall be made to appear to the 40 satisfaction of the Court, that at least ten days previous 41 notice has been given by the applicant to the owner or 42 owners of land so proposed to be condemned ; or if the 43 owner or owners be infants or non compos mentis ; then 44 to the guardian of such owner or owners, if such guar- 45 dian can be found within the county ; or if he cannot be 46 so found, then such appointment shall not be made, im- 47 less notice of the application shall have been published 48 at least one month next preceeding, in some newspaper, 49 printed as convenient as may be to the Court house of 50 the county ; and shall have been posted at the door of the 51 Court house, on the first day at least of the Term of 52 said Court, to which the application has been made ; 53 Provided further, That the valuation provided for in this 54 section, shall be made on oath by the commissioners afore- 55 said, which oath, any justice of peace or clerk of the 56 Court of the county in which the land or a part of it lies, is 57 hereby authorized to administer ; Provided further, That 58 the right of condemnation hereby granted, shall not au- 59 thorize the said Company to invade the dwelling house, 60 yard, garden or burial ground of an individual without 61 his or her consent. Sec. 28. Be it further enacted, That the right of said 2 Company to condemn in the manner described in the 3 27th section of this act, shall extend to the condemning 82 4 one hundred feet on each side of the main tract of the 5 road, measuring from the centre of the same, unless in 6 case of deep cuts and filling, when the said Company 7 shall have power to condemn as much in addition there- 8 to as may be necessary for the purpose of constructing 9 said road ; and the Company shall have power to con- 10 demn and appropriate lands in like manner, for the con- 11 structing and building of depots, shops, warehouses, 12 buildings for servants, agents, and persons employed on 13 the roadj not exceeding two acres in any one lot orsta- 14 tion. Sec. 29. Be it further enacted) That in the absence 2 of any contract or contracts with said company, in rela- 3 tion to lands through which the said road or its branches 4 may pass, signed by the owner thereof, or his agent, or 5 any claimant or person in possession thereof, which may 6 be confirmed by the owner thereof, it shall be presumed 7 that the land upon which the said road or any of its S branches may be constructed, together with one hundred 9 feet on each side of the centre of the said road, has been 10 granted to the said Gompany by the owner or owners 11 thereof, and the said Company shall have good right and 12 title thereto, and shall hold and enjoy the same as long 13 as the same shall be used for the purposes of said road 14 and no longer ; unless the person or persons owning the 15 said land at the time that part of the said road which may 16 be on the said land was finished, or those claiming un- 17 der him, her or them, shall apply for an assessment of 18 the value of said lands as hereinbefore directed, within 1 9 two years next after that part of the said road which may 20 be on the said land was finished ; and in case the said 21 owner or owners, or those claiming under him, her or 22 them) shall not apply within two years next after the 23 said part was finished, he, she or they, shall be forever 24 barred from recovering said land, or having assignment S3 25 or compensation therefor : Provided, that nothing here- 26 in contained shall affect the rights of feme coverts or in* 27 fants, until two years after the removal of their re-spec- 28 tive disabilities. Sec. 30. Be it further enacted, That all lands not 2 heretofore granted to any person , nor appropriated by law 3 to the use of the State, within one hundred feet of the 4 centre of the road which may be constructed by the said 5 Company, shall vest in the Company as soon as the line 6 of the road is definitely laid out through it ; and any 7 grant of land thereafter shall be void. Sec. 31. Be it further enacted, That if any person or 2 persons shall intrude upon the said Railroad by any man- 3 ner of use thereof of the rights and privileges connected 4 therewith without permission, or contrary to the will of 5 the said Company, he, she or they may be indicted for 6 misdemeanor ; and, upon conviction, may be fined and 7 imprisoned by any Court of competent jurisdiction in S this State. Sec. 32. Be it further enacted, That if any person 2 shall wilfully and maliciously destroy, or in any manner 3 hurt or damage, or obstruct, or shall wilfully or malici- 4 ously cause, or aid or assist, or counsel or advise any 5 Other person or persons to destroy, or in any manner to 6 hurt, damage or destro}'' or injure or obstruct the said 7 Railroad, or any bridge or vehicle used for or in the 8 transportation thereon, any water-tank, warehouse or any 9 other property of said Company, such person or persons 10 so offending, shall be liable to be indicted therefor, and^ 11 on conviction, shall be imprisoned not more than six, 12 nor less than one month, and pay a fine not exceeding 13 five hundred dollais, nor less than thirty dollars, at the 14 discretion of the Court before which the said conviction Ho. Doc. No. 10.] S 84 1 5 shall take place, and shall be further liable to pay all ex- 16 penses of repairing the same ; and it shall not be compe- 17 tent for any person so offending against the provisions of 18 this clause, to defend himself by pleading or giving in 19 evidence that he was the owner, agent or servant of the 20 land where such destruction, hurt, damage, injury or ob- 21 structiou was done, at the time the same was done or 22 caused to be done. Sec. 33. Be it further enacted, That every obstruc- 2 tion to the safe and free passage of vehicles on the said 3 road, or its branches, shall be deemed a public nuisance, 4 and may be abated as such by any officer, agent or ser- 5 vant of said Company ; and the person causing such ob- 6 struction may be indicted and punished for erecting apub- 7 lie nuisance. Sec. 34. Be it further enacted, That the said Com- 2 pany shall have the right to take, at the store houses 3 erected by them on the said Railroad, or connected 4 therewith, or on its branches, goods, wares, merchandise 5 and produce intended for transportation, prescribe the 6 rules of priority, and charge and receive snch just com- 7 pensation for storage as they, by rules, may establish, 8 (which they shall cause to be published) or as may be 9 fixed by agreement with the owner, which may be dis- 10 tinct from the rates of transportation : Provided, That 11 the said Company shall not charge or receive storage on 12 goods,wares, merchandise or produce which may be deliv- 13 ered to them at their regular depositories for immediate trans- 14 portation, and which the said Company may have pow- 15 er to transport immediately. Sec. 35. Be it further enacted, That the profits of 2 the Company, or so much thereof as j[the general Board 3 may deem advisable, shall, when the affairs of the Com- S5 4 pany will permit, be semi-annually divided among the 5 stockholders in proportion to the stock each may own. Sec. 36. Be it further enacted, That whenever it 2 shall appear to the board of Internal Improvements of 3 this State, by a certificate under the seal of said Com- 4 pany, signed by their Treasurer and countersigned by 5 their President, that one third has been subscribed for 6 and taken, and that at least one million of dollars has 7 been paid to said Treasurer in cash and in labour per- 8 formed on said Road, and accepted by said Company, as 9 payment on the stock subscribed, the said Board of Inter- 10 nal Improvements shall be, and they are hereby author- 12 ised and required to subscribe, on behalf of the State for 13 stock in said Company to the amount of four millions 14 of dollars to the capital stock of said Company, and the 15 subscription shall be paid in the following manner, name- 16 ly, the one fourth paid as soon as the said Company shall 17 commence work, and one-fourth thereof every nine 18 months theraefter, until the whole subscription on behalf 19 of the State shall be paid in, provided, the Treasurer 20 and President of said Company shall, before they receive 21 the aforesaid instalments, satisfactorily assure the Board 22 of Internal Improvements, by the certificates, under the 23 seal of said Company, that an amount of private sub- 24 scription has been paid in equal proportion to the stock 25 subscribed by the State. Sec. 37. Be it further enacted ', That if, in case the 2 present Legislature shall not provide the necessary and 3 ample means to pay the aforesaid stock, subscribed for on 4 behalf of the State, as provided for in the 36th section of 5 this act, and in that event, the board of internal improve- 6 ments aforesaid shall, and they are hereby authorized and 7 empowered to borrow, on the credit of the State, a sum 8 not exceeding four millions of dollars, as the same may 9 be needed by the requirements of this act. S6 Sec. 38. Be it further enacted, That if, in case it, 2 shall be necessary to borrow the motley by (his act author- 3 ized, the public Treasurer shall issue the necessary certifi- 4 cates, signed by himself, and countersigned hy the Comp- 5 trolier, in sums not less than one thousand dollars each ; 6 pledging the State for (he payment of the sum therein, 7 mentioned, with interest thereon, at the rate of interest 8 not exceeding six per cent, per annum, payable semi- 9 annually, at such times and places as the Treasurer may 10 appoint ; the principal of which certificates, shall be re- 11 deemable at the end of thirty years, from the time the 12 same are issued ; but no greater amount of such certifi- 13 cates shall be issued at any one time, than may be suffi- 14 cient to meet the instalments required to be paid by the 15 State at that time. Sec. 39. Be it further enacted, That the Comptroller 2 shall register the said ceitificates at large, in a book to be 3 by him kept for the purpose, at the time he countersigns 3 the same, and when he delivers the same to the public 4. Treasurer, he shall charge him in his books with the 5 amount thereof, and also with all such sums, if any, as 6 the public Treasurer may obtain by way of premium, on 7 the sale of said certificates, an account of which, the pub - S lie Treasurer shall render to the Comptroller, as soon as 9 negotiations, from time to time, for the sale of said certifi- 10 cates, are closed. Sec 40. Be it further enacted, That if it shall be- 2 come necessary to issue the certificates aforesaid, thepub- 3 lie Treasurer shall advertise in one or more newspapers 4 as he may think best, and invite sealed proposals for such 5 amount of the aforesaid sum of four millions of dollars, as 6 may be wanted at any one time, and it shall be his duty 7 to accept those terms which may be most advantageous 8 to the State : Provided, That in no event, shall any of 87 9 the certificates be sold for less than their par value, and 10 any premium which may be obtained on the sale of said 11 certificates, shall be placed in the public Treasury, and 12 used as other public funds, in the payment of interest on 13 the debt hereby created. Sec. 41. Be'it further enacted, That as security for 2 the redemption of said certificates of debt, the public 3 faith of the State of North Carolina is hereby pledged to 4 the holders thereof; and in addition thereto, all the stock 5 held by the State in the Western Railroad Company, G hereby created, shall be, and the same is hereby pledged 7 for that purpose, and any dividends of profit which may, 8 from time to time, be declared on the stock held by the 9 State as aforesaid, shall be applied to the payment of the 10 interest accruing on said certificates; but until such divi- 11 den d of profit may be declared, it shall be the duty of 12 the Treasurer, and he is hereby authorized and directed 13 to pay all such interest, as the same may accrue, out of 14 any moneys in the treasury, not otherwise appropriated. Sec. 42. Be it further enacted, That the certificates 2 of debt hereby authorised to be issued, shall be transferee 3 ble by (beholders thereof, their agents or attorneys, pro- 4 perly constituted, in a book to be kept by the public 5 Treasurer for that purpose ; and in every instance when a transfer is made, the outstanding certificate shall be 7 surrendered and given to the public Treasurer, and by 8 him cancelled, and a new one for the amount issued in 9 its place, to the person to whom the same is transferred. Sec. 43. Be it further enacted, That the State shall 2 appoint a number of Directors in said Company, in pro- 3 portion to the stock subscribed, who shall be appointed 4 by the Governor, by and with the advice and consent of 5 the Council of State, and removed in like manner. ss Sec. 44. Be it further enacted, That the following 2 officers and servants and persons in the actual employ- 3 ment of the said Company, be, and they are hereby ex- 4 empted from performance of jury and ordinary military 5 duty. The President and Treasurer of the Board of di- 6 rectors, and the chief and assistant engineers, the Secreta- 7 riesand accountants of the Company, keepers of the de- S positories, guard stationed on the Road to piotect it from 9 injury, and such persons as maybe working the locomo- 10 tive engines and travelling with Cars for the purpose of 11 attending to the transporting of produce, goods and pas- 12 sengers on the Road. Binder Gay lord Bros, Makers Syracuse, N. Y, PAT. JAN 21, 1908 UNIVERSITY OF N.C. AT CHAPEL HILL 00042071881 FOR USE ONLY IN THE NORTH CAROLINA COLLECTION 6