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102 1869-70.—Chapter 59.
Eailroad Coinpauy, except so far and in such respects as-they
are by this act altered or amended, and except such
provisions therein contained as may be considered as inap-plicable
and unnecessary in tlie organization of the corpo-ration
created by this act, or in the management or direction
of its affairs, shall be considered as setting forth and defining
the chartered rights, powers, privileges and franchises of
this corporation.
May extend the Sec. 4. The Said Corporation may alter, change or extend
the present line of the railroad purchased as aforesaid, at
such points and in such direction as may be deemed most
judicious by the stockholders ; and in the event of the want
of agreement with the owners of anj^ lands through which
said railroad, by reason of any such change, alteration or
May take lands at extension, wiU pass, as to the value of such lands, or in the
certain valuation. ,r>i ,p ,-ii,i / event oi such want oi agreement with the owners ot any
lands which may be deemed necessary for the use or pro-tection
of such railroad, may take such lands at a valuation'
to be made in the same manner and in all respects under
like proceedings, regulations and restrictions as are pre-scribed
and provided in the acts incorporating said Wil-mington
and Manchester Eailroad Company before re-ferred
to.
Fintiiei' powers to Sec. 5. The said corporation shall have power to borrow
isTue bouds^&c. money, to issue bonds or other evidences of indebtedness sO'
created and secure the payment of the same by mortgage
of its property and effects, c • otherv\ase ; may lease or rent to
any other corporation, or any person or persons, their line of
railroad for any term Vhich may be agreed on, or may in
May lease or con- like manner become the lessee of the railroad of any other
solidate. , . ,. ,. ,,
'
i i •
company, or may consolidate their line oi raih'oad and their
capital stock with the railroad and capital stock of any
other railroad company ; and any railroad company in the
state can enter into such lease or a consolidation with said
Proviso. Wilmington and Carolina Railroad Company : Provided^
however, That none of the powers granted in this section
shall be exercised unless assented to by a majority in interest
Object Description
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| Title | Page 152 |
| Full Text | 102 1869-70.—Chapter 59. Eailroad Coinpauy, except so far and in such respects as-they are by this act altered or amended, and except such provisions therein contained as may be considered as inap-plicable and unnecessary in tlie organization of the corpo-ration created by this act, or in the management or direction of its affairs, shall be considered as setting forth and defining the chartered rights, powers, privileges and franchises of this corporation. May extend the Sec. 4. The Said Corporation may alter, change or extend the present line of the railroad purchased as aforesaid, at such points and in such direction as may be deemed most judicious by the stockholders ; and in the event of the want of agreement with the owners of anj^ lands through which said railroad, by reason of any such change, alteration or May take lands at extension, wiU pass, as to the value of such lands, or in the certain valuation. ,r>i ,p ,-ii,i / event oi such want oi agreement with the owners ot any lands which may be deemed necessary for the use or pro-tection of such railroad, may take such lands at a valuation' to be made in the same manner and in all respects under like proceedings, regulations and restrictions as are pre-scribed and provided in the acts incorporating said Wil-mington and Manchester Eailroad Company before re-ferred to. Fintiiei' powers to Sec. 5. The said corporation shall have power to borrow isTue bouds^&c. money, to issue bonds or other evidences of indebtedness sO' created and secure the payment of the same by mortgage of its property and effects, c • otherv\ase ; may lease or rent to any other corporation, or any person or persons, their line of railroad for any term Vhich may be agreed on, or may in May lease or con- like manner become the lessee of the railroad of any other solidate. , . ,. ,. ,, ' i i • company, or may consolidate their line oi raih'oad and their capital stock with the railroad and capital stock of any other railroad company ; and any railroad company in the state can enter into such lease or a consolidation with said Proviso. Wilmington and Carolina Railroad Company : Provided^ however, That none of the powers granted in this section shall be exercised unless assented to by a majority in interest |
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