- Title
- Laws and resolutions of the State of North Carolina, passed by the General Assembly at its session [1881]
-
-
- Date
- 1881
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-
- Creator
- ["North Carolina."]
-
- Place
- ["North Carolina, United States"]
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Laws and resolutions of the State of North Carolina, passed by the General Assembly at its session [1881]
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1SS1. — Chapter 5.
on
CHAPTER 5.
AX ACT TO PERFECT THE ORGANIZATION OF
ТПЕ
CAROLINA
CENTRAL RAILROAD COMPANY.
The General Assembly of North Carolina do enact:
Section 1. That the Carolina Central Railroad Com- pecinrpa to i.c
л
panv, a corporation organized under and by virtue of an izcd corporation,
act ratified the first day of March, one thousand eight
hundred. and seventy-three, and entitled “An act to regu¬
late mortgages by corporations, and sales under the same,”
and the grantee in a deed executed the twenty-fifth day
of June, A. D. one thousand eight hundred and eighty,
by Nathan A. Stedman, Jr., and Junius Davis, commis¬
sioners appointed by a decree of the superior court of New
Hanover county to sell the property, rights and fran¬
chises of the Carolina Central Railway Company, and to
make title to the same is hereby declared to be a law¬
fully organized corporation, succeeding to and legally pos- ti?cn|i^!*c.!oc
sessed of, all the rights, powers, privileges and franchises
н’плсспи-в/клп
which were owned and possessed by the former corpora- Cl>'
tion, the Carolina Central Railway Company, on and prior
to the day of the said sale, to wit, the thirty-first day of
May, one thousand eight hundred and eighty.
Sec. 2. That in order to effectuate and carry out the
agreement between the bondholders of the said former
corporation made in contemplation and for the purpose
of their becoming the purchasers, at the said foreclosure
sale of the property and franchises of the eaid former cor¬
poration, and which said purchase was afterwards mado
in pursuance of said agreement, the said corporation, the
Carolina Central Railroad Company, is liorebv author- Empower.-.! to
1 J " inortxagoilK
ized and empowered to mortgage its property, franchises
^Тио ыта'"1
and income, and to issue bonds to bo secured by such
mortgages, in sucli amounts and classification, and with
such priorities of lien as may have been, or may here-
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