| An Act to Amend the Charter of the Western
North-Carolina Railroad Company |
| Section 1. Be it enacted by
the General Assembly of the State of North-Carolina, and it is hereby
enacted by the authority of the same, That the route selected by
said company for the location of their road, from the east bank of the
French Broad river to the Tennessee line, at or near Ducktown or
Cowone, under the provisions of the second sections of the acts of
1854-'55 and 1858-'59, be and the same are hereby approved. |
| Sec. 2. Be it further
enacted, That the first section of said road, instead of being
divided into two sections as heretofore, shall be extended from
Salisbury to, and terminate at the western portal of the Blue Ridge
tunnel, west of the Swannanoa Gap, instead of Morganton; but the
subscriptions made for the divisions of that section east and west of
Morganton, shall be applied to the construction of the division
designated by the subscription. |
| Sec. 3. Be it further
enacted, That the company as provided in said act shall open books
for the subscription of the stock for the second section of said road,
to extend from the terminus of the said first section to a point to be
selected by the company, on French Broad river, as near as may be
consistent with the interest of the company, to the village of
Asheville; and as soon as one-third of the estimated cost of that
section is subscribed by solvent individuals, counties and
corporations, as provided in the act of 1854-'55, the company shall
place that section under contract. |
| Sec. 4. Be it further
enacted, That as soon as the second section is put under contract,
it shall be the duty of said company to open books for the
subscription of stock to extend the third section of said road from
the terminus of the second section to Waynesville, in the county of
Haywood, or to a point west of the head of Richland Creek; and as soon
as one-third of the estimated cost of this section have been
subscribed, it shall be the duty of the company to put a portion or
all of the said section under contract. |
| Sec. 5. Be it further
enacted, That it shall be the duty of said company, at the same
time they open books for the subscription of stock for the third
division, also to open books for the subscription of stock to
construct a branch of said road down French Broad river, agreeably to
a survey recently made by said company, terminating at the Paint Rock,
on the Tennessee line. |
| Sec. 6. Be it further
enacted, That the remainder of the appropriation made for said
road under the act of 1854-'55, after setting apart a sufficient sum
to pay the contractors and complete the road to the point on French
Broad river, in the county of Buncombe, shall be equally divided
between the third division, extending to Waynesville, or a point west
of the head of Richland Creek, and the branch down French Broad river,
to the Paint Rock; and as soon as one-half of that sum shall have been
subscribed, as provided in third section, for either the third
division or the branch, it shall be the duty of the company to put a
portion or all of either or both under contract. |
| Sec. 7. Be it further
enacted, That the payments required to be made on the part of the
State under this act and the act of 1854, in one year from the passage
of this act, shall not exceed seven hundred thousand dollars; this
limitation on the expenditure is intended as a substitute for the
restrictions under the act of 1854-'55. |
| Sec. 8. Be it further
enacted, That all laws and clauses of laws coming in conflict with
this act, be and the same are hereby repealed, and that this act be in
force from and after its ratification. |
| Read three times and ratified
in General Assembly this |
| 18th day of February, A. D.
1861. |
| Wm. T. Dortch, S. H. C. |
|
Henry T. Clark, S. S. |
|
{Included in the 1861 Annual Report to
Stockholders} |
|