- Title
- Acts passed by the General Assembly of the State of North Carolina [1831-1832]
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-
- Date
- 1831 - 1832
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-
- Creator
- ["North Carolina."]
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- Place
- ["North Carolina, United States"]
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Acts passed by the General Assembly of the State of North Carolina [1831-1832]
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PRIVATE ACTS.
— -*»©*
- •
CHAPTER L
An ad lo incpirpoi-ato the
Си, л*
l**car VailUin Ifnil Hoail Cn;
Ik it (Untied by the General .hscnlb/y of the State >.f Sort'' Carolina,
a id it is here’
у
enacted by the uvthmity of the saute. That it shall be law¬
ful lu open book:» in the town of Wilmington, utnlor the direction of
Лг-
maml J. Deroaetie, sen.,
К
Award B. Dudley, James Owen, Gabriel Holmes
and William Ii. Moares; in (lie town of Fayetteville, under the direction
of Dnucan M'iiae* John \Y. "Wright, John'!!. Hal!, Robert St i-anjrc anti
AlexandcuvElIiott: in the town of Salisbury, under the direction of Tho¬
mas I, . Cowan, James Martin, junior. Michael Brown, Maxwell (.'bombers
and William llorah; in the town of Lincolnton, under the direction of
Daniel M. Forney, Daniel Hoke. Lawson Henderson and Robert II. Bur¬
ton: and at such other places, and under the direction of such other per¬
sons, as the commissioners herein named for the town of Wilmington may
appoint, for the pul'll use of receiving subscriptions not exceeding the sum
of two millions of dollars, in shares of one hundred dollars’ each, to
constitute a joint capital stock, for the purpose of effecting a commu¬
nication by a rail road, or by a rail road and a canal or canals, from
the town of Wilmington through ur by the town of Fayetteville to
the Yadkin river, at or above the narrows thereof; thence through,
or as near to the town of Salisbury as may be deemed advisable, to
Beatties Ford, or such other puiut on the Catawba river, as may be
practicable: which route shallbe determined on by the company hereby
incorporated. That the said books shall be opened in each places at such
time as the commissioners or deputy commissioners shall respectively ap¬
point, between the 31st day of March and the first day of July next, and
shall be kept open at each place at least sixty days; and if it shall appear
that more than the whole amount, authorised by tins act, shall be subscrib¬
ed. then it shall be the duty of the commissioners, or a majority of (hem,
a ppointed to receive subscriptions'at Wilmington, to reduce the number of
shares subscribed for, among the subscriber.*, in fair and equal proportions
to the amount of stock subscribed for respectively by each, until the whole
amount of > hares shall be reduced to twenty thousand. But if the whole
number of shares shall not be subscribed for within one year from the time
book> shall be opened to receive subscriptions, then the books mar he
closed or continued open, as a majority of the commissioners named to re¬
ceive subscript ions at Wilmington may judge most beneficial, until the whole
Lumber of -hares shall be subscribed for. And the time and place of re¬
ceiving such subscriptions as aforesaid, shall be advertised in one or more
of the new-papers publUhed in the city of Raleigh, in the towns of Wilming¬
ton. Fayetteville and Salisbury.
II. When three thousand shares shall be subscribed in manner aforesaid,
the subscribers, iheir executors, administrators or assigns shall be, and
they are hereby declared to be incorporated into a company bv (lie name
anti style of the “Cape Fear and Yadkin Rail Road Company," and in
that name may sue and be sued, plead and he impleaded, and shall possess
and enjoy all the rights, privileges and immunities of a corporation or bo¬
dy politic in law, and may make all such bye laws, rules and regulations,
uot inconsistent with the constitution and laws of this State, or of the United
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