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978 1911—Chapters 418—119.
Counties and
municipalities may
subscribe to stock.
Representation of
municipal stock.
Subscriptions to
other companies.
Corporation
formed by merger
domesticated.
inclusive, of chapter sixty-one, volume one, of The Revisal of one
thousand nine hundred and five of North Carolina, in respect to the
acquisition of land by condemnation.
Sec. 12. That it shall and may be lawful for any county, town-ship,
city or town, in or through which the said railroad may be
located or which is interested in its construction, to subscribe to
the capital stock or bonds of such company, such sum or sums, in
bonds or money, as a majority of their qualified voters may author-ize
the county commissioners of such county or the municipal au-thorities
of such town to subscribe.
Sec. 13. That in all conventions of stockholders of said company,
such counties, townships or towns as may subscribe to the capital
stock shall be represented by one or more delegates to be appointed
for such purpose by the corporate authorities of such towns, or the
county commissioners of the respective counties, or townships in
such counties.
Sec. 14. That it shall and may be lawful for such railroad com-pany
from time to time to subscribe for, purchase and hold the
stock and bonds of any other company incorporated under the laws
of this State, or to guarantee or endorse such bonds or stock, or
either of them, and to lease, use or purchase the road, property or
franchises of any such company, for such time and upon such terms
as shall be agreed upon.
Sec. 15. In the event of the consolidation of said corporation
with any other corporation or corporations, the said corpration so
formed by said consolidation shall be a corporation of this State
and amenable to the courts of the same, and shall have the same
powers in every respect as herein set out.
Sec. 16. That all laws and clauses of laws in confiict with this
act are hereby repealed so far as the same may apply to the com-pany
herein incorporated.
Sec. 17. This act shall be in force from and after its ratification.
Ratified this the 7th day of March, 1911.
CHAPTER 419.
AN ACT TO INCORPORATE THE MONROE SOUTHERN RAIL-ROAD
COMPANY. I
The General Assembly of North Carolina do enact:
.Corporators. SECTION 1. That W. S. Blakney, E. C. Williams, L. A. Kerr, J. \V.
Miller, T. P. Smith and W. E. Cason, and such other persons as
may hereafter become associated with them as stockholders, their
successors and assigns, be and they are herebj' created and declared
a body politic and corporate, under the laws of the State of North
Object Description
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| Title | Page 1012 |
| Full Text | 978 1911—Chapters 418—119. Counties and municipalities may subscribe to stock. Representation of municipal stock. Subscriptions to other companies. Corporation formed by merger domesticated. inclusive, of chapter sixty-one, volume one, of The Revisal of one thousand nine hundred and five of North Carolina, in respect to the acquisition of land by condemnation. Sec. 12. That it shall and may be lawful for any county, town-ship, city or town, in or through which the said railroad may be located or which is interested in its construction, to subscribe to the capital stock or bonds of such company, such sum or sums, in bonds or money, as a majority of their qualified voters may author-ize the county commissioners of such county or the municipal au-thorities of such town to subscribe. Sec. 13. That in all conventions of stockholders of said company, such counties, townships or towns as may subscribe to the capital stock shall be represented by one or more delegates to be appointed for such purpose by the corporate authorities of such towns, or the county commissioners of the respective counties, or townships in such counties. Sec. 14. That it shall and may be lawful for such railroad com-pany from time to time to subscribe for, purchase and hold the stock and bonds of any other company incorporated under the laws of this State, or to guarantee or endorse such bonds or stock, or either of them, and to lease, use or purchase the road, property or franchises of any such company, for such time and upon such terms as shall be agreed upon. Sec. 15. In the event of the consolidation of said corporation with any other corporation or corporations, the said corpration so formed by said consolidation shall be a corporation of this State and amenable to the courts of the same, and shall have the same powers in every respect as herein set out. Sec. 16. That all laws and clauses of laws in confiict with this act are hereby repealed so far as the same may apply to the com-pany herein incorporated. Sec. 17. This act shall be in force from and after its ratification. Ratified this the 7th day of March, 1911. CHAPTER 419. AN ACT TO INCORPORATE THE MONROE SOUTHERN RAIL-ROAD COMPANY. I The General Assembly of North Carolina do enact: .Corporators. SECTION 1. That W. S. Blakney, E. C. Williams, L. A. Kerr, J. \V. Miller, T. P. Smith and W. E. Cason, and such other persons as may hereafter become associated with them as stockholders, their successors and assigns, be and they are herebj' created and declared a body politic and corporate, under the laws of the State of North |
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