Powers and privileges not forfeited by non use. Proviso. Company shall be organized within five years. at such other places in the United States as the stockholders of the company may designate or authorize, such branch offices and agencies to be subject to such rules and regulations as prescribed in the by-laws of said company. Sec. 11. That the powers and privileges granted herein shall not be deemed forfeited by non-use: Provided, the company is organized within five years from the date of ratification of this act. Sec. 12. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. Corporators. Corporate name. CHAPTER 219. An act to incorporate Roxboro Cotton Mills. The General Assembly of North Carolina do enact ; Section 1. That J. A. Long, A. R. Foushee, J. S. Bradsher, F. A. Lukin, R. I. Featherstone, A. S. De Vlaming, C. T. Wilson, T. J. Stephens, J. M. Blalock, J. C. Pass, J. S. Cunningham, W. F. Reade, A. J. Hester, W. W. Kitchen, R. E. Long, B. N. Duke, J. S. Carr, G. W. Watts and W. W. Fuller, and their associates, successors and assigns be and they hereby are created a body politic and corporate under the name and style of Roxboro Cotton Mills, with capital stock of twenty-five thousand ($25,000) dollars, divided into shares of the par value of one hundred dollars each, with liberty and authority to the majority of the stockMay be increased. holders to increase said capital stock at any time and from time to time to any amount not exceeding in the aggregate five hundred thousand dollars ($500,000), divided into shares of the par value of one hundred dollars each, and with privilege to said company to commence business when two thousand five hundred dollars ($2,500) of its capital stock has been subscribed for and paid in; and by unanimous vote of all the stockholders the capital stock of said company, after it has been increased, may at any time or from time to time be reduced: Provided, it shall never be less than its original capital stock of twenty-five thousand dollars ($25.000). Capital stock may be reduced. Duration of charter. Corporate pow. ers. Sec. 2. That said corporation shall have succession for sixty (60) years; it may adopt a common seal, which it may break or alter at pleasure; in its corporate name it may sue and be sued, prosecute and defend actions or special proceedings in all courts of the land; it may divide its capital stock into such classes and ers. issue it upon such terms and conditions as its stockholders may desire, and after the original or any increase thereof has been issued its stockholders may, by unanimous consent, convert one class of stock into another or modify and change the terms and conditions upon which any or all of it has been issued; it may issue the whole or any part of its capital stock in payment for property acquired for the company upon such terms and conditions as its board of directors may deen advisable; it may buy, lease, exchange, hold, sell and convey real and personal property at its will and pleasure; it may construct, build and erect such buildings, works and improvements upon property of its own or of others, by their permission as may be deemed proper, and may equip, operate, use and maintain the same; it may in any way it Corporate pow. may desire, manufacture, handle and deal in cotton, wool, jute, hemp, silk or any other textile, either singly or in combinations of two or more of them; it may buy, sell and exchange goods, wares and merchandise of all kinds; it may purchase, lease, use and maintain any works or improvements connected or intended to be connected with the works and improvements of said company; it may consolidate or unite with any other company now created or to be hereafter created under the laws of this or any other state, retaining its own name or that of the company united or consolidated with; by a vote of those holding a majority of its outstanding share capital it may at any time or from time to May change its time change its name; it may borrow money and as security therefor it may issue its notes, bonds or other obligations, and if deemed advisable, secure the payment of the same by a mortgage or deed of trust upon its franchises and property or any part of it; it may acquire, hold, own and enjoy stock in the capital of any company now in existence or hereafter to be created under the laws of this state or any other state or country, and stock in its capital may be owned, held and enjoyed by any company now created or to be hereafter created; it may acquire, construct, equip and operate telephone and telegraph lines and electric light and power plants. name. Sec. 3. That the principal office of said company shall be at Principal office. Roxboro, in Person county, North Carolina; but it may establish and maintain branch offices, agencies, factories, depots, ware houses, stores and works anywhere in the United States or else where that its directors may deem advisable. Sec. 4. That it may make such by-laws, rules and regulations May make by. as the stockholders may desire, not inconsistent with the consti- laws, etc. tution and laws of this state. Sec. 5. That the corporators and stockholders of said company Individual liability. and their associates, successors and assigns shall not be individ No notice of first meeting required. ually or personally liable or responsible for the debts, contracts, obligations, engagements or torts of said company. Sec. 6 That no notice or publication whatever of the first meeting of said corporation shall be given or required: Provided, all of the corporators named herein waive in writing such notice and fix a time and place for such meeting. Sec. 7. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. Portion of section 4 of an act ratified Feb. ruary 2ud, 1857, amended. CHAPTER 220. An act to repeal a portion of and to re-enact section four of "An act to provide for the enlargement, increase of depth and completion of the Albemarle and Chesapeake Canal," ratified February second, eighteen hundred and fifty-seven. The General Assembly of North Carolina do enact: Section 1. That so much of section four of an act ratified on the second day of February, eighteen hundred and fifty-seven, entitled "An act to provide for the enlargement, increase of depth and completion of the Albemarle and Chesapeake Canal" as authorizes and directs the governor to annually appoint three directors of said company, is hereby repealed, and the said section is hereby amended and re enacted so that the same shali read as follows: Section 4. That all provisions of the charter of the said company requiring the majority of its directors to be resident citizens of North Carolina are hereby repealed. Sec. 2. This act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. Corporators. Body corporate. CHAPTER 221. An act to incorporate Slayden, Fakes and Company, of Asheville, The General Assembly of North Carolina do enact: Section 1. That W. J. Slayden, B. B. Fakes, C. S. Davis and such other persons as they may associate with them, and their successors and assigns, are hereby created and constituted a body politic incorporated under the name and style of Slayden, Fakes & Co., and under that name and style may have a corporate seal may sue and be sued, plead and be impleaded, contract and be contracted with, and enjoy all the rights. privileges, powers and immunities given to corporations under chapter sixteen of volume one of The Code of North Carolina and the acts amendatory thereof. Sec. 2. That the capital stock of said corporation shall be one Capital stock. hundred thousand dollars, with the privilege of increasing the same at any time and from time to time to any sum not exceeding two hundred and fifty thousand dollars, divided into shares of the par value of one hundred dollars each. Sec. 3. That said corporation is hereby authorized and empow- Nature of busiered to conduct a general mercantile business in all its branches, ness. both wholesale and retail; may buy and sell and deal in goods, wares and merchandise of every kind and description. Sec. 4. That said corporation shall have power to lease, pur- Corporate powchase, hold, sell and convey real estate and personal property of ers. every kind and description, and shall have power to borrow money and issue bonds and any other evidences of indebtedness, and to execute any mortgage deed. trust or lien to secure the payment thereof. managed. Sec. 5. That the affairs of said corporation shall be managed Affairs of corby the stockholders themselves or in a manner prescribed by such portion, how by-laws, rules and regulations for the conduct and management of the corporate affairs and its business as they may deem necessary or expedient and not inconsistent with the laws of the state. Sec. 6. That the officers of said corporation shall consist of a president, secretary and treasurer, and the last two offices may corporation. be filled by one person, to be elected as prescribed by the bylaws, rules and regulations of the corporation. Sec. 7. That the duration of said corporation shall be thirty years. Officers of Sec. 8. That the said corporation shall have the right to receive Payment of goods, wares and merchandise, lands or other real or personal capital stock. property in payment of its capital stock, and when the amount paid in shall reach one hundred thousand dollars, stock to that amount may be issued to the stockholders. Sec. 9. That for the. purpose of organization W. J. Slayden Temporary shall be president of said corporation and C. S. Davis secretary officers. and B. R. Fakes treasurer, who shall hold their offices until their successors are elected by the stockholders of said corporation, or otherwise, as shall be provided by the by-laws, rules and regula tions of said company. Sec. 10. That the stockholders in the said corporation shall not Individual be personally liable for the debts and liabilities of the corpora- liability. tion. Sec. 11. That the place of business and office of said corpora PRIV-40 Place of business tion shall be in the city of Asheville, state of North Carolina, but the said corporation shall have the right to establish branch stores in other places in said state. Sec. 12. This act shall be in force from and after its ratifica tion. Ratified the 6th day of March, A. D. 1899. Preamble. Corporators. Body corporate. Corporate pow ers. Principal office. CHAPTER 222. An act to incorporate the Knights of Hyde, a mutual benefit home insurance association Whereas, certain citizens of the state of North Carolina and county of Hyde, have associated themselves together under the name and style of the "Knights of Hyde, a Mutual Benefit Home Insurance Association," with the intention and purpose of promoting charity, benevolence, morality, industry and intelligence, and of providing for the families of deceased members indemnity for their loss by death by an assessment against the living members; therefore, The General Assembly of North Carolina do enact : Section 1. That president Dallas Wahab, secretary and treasurer S. S. Mann; and directors for Currituck township, B. D. Harris and Asa J. Smith; and directors for Swan Quarter township, W. Sanford Harris and I. H. Swindell; and directors for Lake Landing township, S. J. Beckwith and J. M. Hall; and directors for Fairfield township, R. L. Young and W. B. Nixon, their successors, associates and assigns, be and they are hereby incorporated and created a body politic under the name and style of the "Knights of Hyde, a Mutual Benefit Home Insurance Association," and by such name and title shall have and use a common seal, contract and be contracted with, sue and be sued, plead and be impleaded, and shall have power and right of purchasing, leasing, holding, granting receiving and conveying in its corporate name property, real, personal and mixed, and of making such laws, by-laws, rules and regulations as the said corporation may deem necessary for the proper transaction of its business, the same not to be in conflict with the laws of this state or of the United States. Sec. 2. That the principal office of the said corporation shall be established in the village of Swan Quarter, North Carolina, |