| From the Raleigh Standard |
| |
| March 17, 1863 |
| |
| The Chatham Railroad Company |
| We learn that at the meeting of the
stockholders of the Chatham Railroad Company, in this City, on the 3d
instant, the amendments to the charter of the company, passed at the
last session of the General Assembly, were unanimously adopted. |
| The main features of the amendments are as
follows: |
| For every mile graded by the company, the
State subscribes $10,000, the subscription not to exceed $250,000. The
company relinquishes the privilege granted by the Convention, of
corporations hereafter taking stock in the company, exchanging
bonds with the State, up to $550,000. |
| The company, with the approval of the
Board of Internal Improvements, may extend their road into Union
County. If the corporations which have heretofore subscribed to the
stock of the company, (viz: the City of Raleigh and the Raleigh &
Gaston Railroad Company,) should exchange bonds with the State, then
all payments by them to the State shall be invested by the
commissioners of the sinking fund for the redemption of the State
bonds when due. |
| The State is to be represented in the
Board of Directors (increased to seven) in proportion to its
stock. |
|