MISC, WNC 2/18/1861

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}

Home