| From the Charleston Mercury |
| January 1, 1862 |
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| Acts of the Legislature |
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| An Act to Incorporate the Florence &
Fayetteville Rail Road Company |
| 1. Be it enacted by the
Senate and House of Representatives, now met and sitting in General
Assembly, and by the authority of the same, That for the purpose
of forming a Railroad communication between Florence, in this State,
and the town of Fayetteville, in the State of North Carolina, the
formation of a corporate company is hereby authorized, to be called
"The Florence & Fayetteville Railroad Company," which
company, when formed, are hereby authorized to construct a Railroad
from Florence to a point at or near McInnis' Bridge, on Little Pee Dee
River, and thence to Fayetteville, in the State of North Carolina,
following throughout its length a line between said point as nearly
direct as may be consistent with the most economical construction of
said Road. |
| 2. That the Capital Stock of
said Company shall be fifteen hundred thousand dollars, to be divided
in shares of one hundred dollars each, with the privilege of
increasing said capital at any time after the Company is organized, to
an amount not exceeding three million dollars, in like shares of one
hundred dollars each. |
| 3. That for the purpose of
raising such Capital Stock, books of subscription are hereby
authorized to be opened at the following places, and by the following
persons as Commissioners, that is to say: At Harlesville in Marion
District, by A. W. Bethea, A. S. McCormick and James McRae; and at
Clio, in Marlborough District, by Charles McRae, John A. McRae and P.
B. McLunn, with power in said Commissioners, or any three of them, to
appoint Commissioners at such other places as they may think proper,
which books of subscription may be opened at any time, and from time
to time, as the said Commissioners herein named, or a majority of
them, shall determine, upon first giving at least thirty days public
notice of the time and place of opening said books. |
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4. That whenever the sum of three hundred
thousand dollars shall have been subscribed by responsible
individuals, companies or corporations, to the capital stock of said
company, and an installment of five dollars on each share paid in
cash, it shall be lawful for said company to organize and proceed to
the construction of the said railroad; and for the ;purpose of so
organizing, it shall be the duty of the Commissioners herein named to
call a meeting of the stockholders, fixing the time and place of such
meeting. |
| 5. That for the purpose of
organizing said Company and of continuing the said Railroad, the said
Company is hereby invested with all the powers and privileges, and is
made subject to all the duties and liabilities that the Wilmington
& Manchester Railroad Company are invested with, and subject to by
an Act entitled "An Act to charter the Wilmington &
Manchester Railroad Company," ratified on the eighteenth day of
December, in the year of our Lord one thousand eight hundred and
forty-six; and the charter of the said Wilmington & Manchester
Railroad Company shall be and constitute, as far as practicable, the
charter of the said Florence & Fayetteville Railroad Company. |
| 6. That the Company hereby
authorized to be formed shall not have power to discriminate on
freight or travel against any of the Railroads now in operation, or
which may at any time hereafter be constructed, in South Carolina; but
the charges of freight and travel shall be the same in every instance
agreeable to distance under the penalty of forfeiture of their
Charter. That the guage of said Road shall be five feet to correspond
with the guage of the Railroads in South Carolina throughout the
entire length of road from Florence to Fayetteville, North Carolina. |
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