| {Acts of the North
Carolina General Assembly} |
| |
| An Act to Incorporate the Plaster Banks' & Salt Works'
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 for the purpose of
forming a connection with the Western North-Carolina Railroad and the
Atlantic, Ohio & Tennessee Railroad, the valley of the Yadkin and some
point on the Virginia line in the direction of the iron, lime, plaster
and salt region of that State, a company is hereby authorized to be
incorporated under the name and style of the "Plaster Banks' & Salt
Works' Railroad Company," which shall have a corporate existence as a
body ninety-nine years; and by that name may sue and be sued, plead and
be imploaded, may have and use a common seal, and shall be capable in
law and equity of purchasing, holding, leasing and conveying estate both
real and personal and mixed, and of acquiring the same by gift or will
so far as may be necessary for the purposes herein contemplated and no
further; and said company may enjoy all other rights and immunities
which other corporate bodies may lawfully exercise, and may make all
necessary by-laws and regulations for its government not inconsistent
with the constitution and laws of the State of North-Carolina or of the
Confederate States of America. |
| Sec. 2. Be it further
enacted, That the said company shall have power and authority to
construct a railroad from the town of Statesville to some point on the
Virginia line in the direction of the lime, iron, plaster and salt
region in that State. |
| Sec. 3. Be it further
enacted, That the capital stock of said company shall not exceed
three millions of dollars, divided in shares of one hundred dollars
each, and may raise the same by subscription of individuals, counties,
towns and corporations of any and every description whatsoever, equal in
amount to a sum sufficient to construct and equip the road herein
authorized to be built. |
| Sec. 4. Be it further
enacted, That C. A. Carlton and R. F. Simonton of the town of
Statesville, O. J. Ford and Jerry Tomlin of the town of Olin, J. A.
Young and Wm. Johnston of the town of Charlotte, A. C. McIntosh and
Alfred Carson in the town of Fayetteville, Andrew Conler and A. N.
Martin in the town of Hamptonville, A. B. F. Gaither and Wm. J. Colvert
of the county of Iredell, N. A. Joyner and R. F. Armfield in the town of
Yadkinville, B. B. Bur and Dr. E. B. Hampton in the town of Jonesville,
Dr. James Calaway and Oliver Cowles in the town of Wilkesborough, T. S.
Martin and Thomas Long in Huntsville, Tyre York and John Alexander at
Trap Hill, and such other persons as the above named persons may
appoint, are hereby appointed commissioners to receive subscriptions to
the capital stock of said company in each of the said towns and
counties, any three of whom may have power to act, first giving ten days
notice in one of the newspapers of his State, of the time of opening the
books for that purpose; and any five of said commissioners may at any
time after said books have been kept open for twenty days have power to
call together the subscribers to the capital stock of said company for
the purpose of organizing the said company, and the commissioners may,
after the organization of the company, from time to time receive further
subscriptions to the capital stock as they may deem proper. |
| Sec. 5. Be it further
enacted, That whenever the sum of one hundred thousand dollars shall
have been subscribed, by responsible persons, corporations, towns or
counties to the capital stock of said company, and the sum five dollars
per share shall have been paid in, the said general
commissioners, the subscribers, their successors, executors or
administrators or assigns shall be and they are hereby declared incorpor
{the next page is missing and will be added if
found} |
| that said company may have the exclusive
right of transporting persons and freight upon said road at such rates
and charges as the board of directors may fix. |
| Sec. 9. Be it further
enacted, That this act shall be in force from and after its
ratification. [Ratified the 30th day of May, 1864.] |
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