of children at reclaim such child. For any violation [of] or any contract made The treatment between the corporation and any person who shall receive a child homes. therefrom, it may maintain an action in any court, either in its own name or in the name of the child. Violation of con tract between corporation and annuated min Sec. 8. That the said corporation may also establish and main tain, under such rules and regulations and under such names or designation as it may adopt, subject to the approval of the North isters Carolina Conference of the Methodist Episcopal Church, South, a home or homes for the wornout or superannuated Methodist preachers and their wives and helpless children, or for the widows and helpless children of deceased Methodist preachers. Sec. 9. That said corporation shall also establish and maintain, under such name or designation and under such rules and regulations as the trustees may adopt, subject to the approval of the North Carolina Conference of the Methodist Episcopal Church, South, a hospital or hospitals for the care of the sick inmates of any of the homes under its control, and may receive and keep separate from the other funds of the corporation any donation by deed, will or otherwise that may be made for the support or benefit of such hospital or hospitals. Sec. 10. That it shall be unlawful for any person to set up or continue any gaming table or any device whatsoever for playing at any game of chance or hazard by whatever name called, or to exhibit any circus or theatrical performance within one-fourth of a mile of any orphanage house for orphan children under the control of the said corporation without the consent of the trus tees thereof: Provided, that this section shall not be effective if said orphanage shall be established within one-fourth of a mile from the corporate limits of Raleigh and shall not interfere with the conduct or operation of any fair held by any agricultural association within enclosed grounds. May establish hospital for care of sick. Certain games and perform ances within one fourth a mile of orphanage prohibited. Sec. 11. That the property of said corporation used for its pur- Exempt from poses shall not be subject to taxation. taxation. tees. Application of property if corpo ration shall Sec. 12. That the said trustees and their successors shall hold Meetings of trustheir meetings from time to time as often as may be necessary, and shall make a report to each annual session of the North Carolina Conference of the Methodist Episcopal Church, South. Sec. 13. That in case for any cause said corporation should de termine to abandon the purposes for which it is hereby established all property belonging to it shall be devoted to such relig- abandon purpo ious, charitable, benevolent or educational purposes as may be established. determined upon by the North Carolina Conference of the Methodist Episcopal Church, South, subject, nevertheless, to such limitations as may be contained in any will or deed or other instrument by which any of said property may have been conveyed to said corporation. ses for which Conflicting laws repealed Sec. 14. All laws and clauses of laws in conflict with the provisions of this act are hereby repealed. Sec. 15. This act shall be in force from and after its ratification. Corporators. Corporate rights and powers. CHAPTER 230. An act to incorporate the Cape Fear Terminal Railway Company. The General Assembly of North Carolina do enact : Section 1. That Iredell Meares, M. G. Guthrie, W. G. Curtis, William Weeks, William A. Williams, William H. Green and such other persons as may become associated with them as stockholders, and their successors, be created a body politic and corCorporate name. porate under the name of "The Cape Fear Terminal Railway Company," and shall have the right to sue and be sued, to have a common seal; to purchase or acquire for the necessary purposes of the company, by gift or devise, estate, real, personal or mixed, and to hold, lease or sell the same, as the interest of said com pany may require, and shall make and exercise all such by-laws and regulations for its government as may be necessary or expedient for that purpose not inconsistent with the constitution of the state or of the United States; and shall have all the rights and enjoy all the privileges and immunities possessed and enjoyed by any other railroad company under the laws of North Carolina: Provided, that this section shall not be construed to exempt the property of said corporation from being taxed. Proviso. Not exempted from taxation. Authorized to construct railroad. Territory traversed. Capital stock. Sec. 2. That said company is hereby authorized to construct a railroad or railroads of one or more tracks and of any guage whatever from any point in the city of Wilmington, North Carolina, or from the shores of the Cape Fear river, opposite to or near the said city of Wilmington, through the county of Brunswick to any point in the city of Southport, North Carolina, and through said county via Southport or otherwise to the state lines dividing the states of North Carolina and South Carolina, and from the shores of said Cape Fear river at any point in or near the city of Southport through any or all of the counties of Brunswick, Columbus, Robeson, Richmond, Anson or Cumberland to any point on the line of the Carolina Central or Cape Fear and Yadkin Valley Railroads; and thence on in a northern or northwestern direction through any of the counties of the state lines dividing the states of North Carolina and Virginia. Sec. 3. The capital stock of said company shall be one million dollars, divided into shares of one hundred dollars each, but said company may, by a concurrence of two thirds in value of all its stock, increase its capital stock from time to time to an amount May be increased. deemed necessary to the interest of said company. Sec. 4. Books of subscription may be opened by said corpora- Books of sub tors or by the directors at such times and places and under such scription may be opened rules and regulations as a majority may determine, and the said corporators or a majority of them may, at any time after the sum of ten thousand dollars has been subscribed to the capital stock of said railroad company and five per centum cash paid thereon, have power to call together the subscribers to said shares of stock for the purpose of completing the organization of said company. of stock. Sec. 5. That the president shall, under the direction of the President shall board of directors, issue certificates of stock to the stockholders, issue certificates which shall be transferable in such manner as may be prescribed by the by-laws of the company. Sec. 6. Said company shall be authorized to borrow money for Authorized to the construction and operation of said railroad and for the pur- borrow money. pose of this act, and to issue coupon or regular bonds for the amount so borrowed, and to mortgage said road and the other property of said company to secure the payment of said bonds, principal and interest. other roads. Sec. 7. The said railroad company shall have the power to cross Empowered to the tracks of other railroads and to connect with any railroad cross tracks of now or hereafter chartered, and to lay down and to use tracks through any town or city, and with the consent of the corporate authorities of said town or city, upon such terms as they may prescribe. May build Sec. 8. The said railroad company shall have power to build branches to the main stems in any direction not exceeding fifty branches. miles in length, and may build, purchase and hold, charter or connect with such ocean steamers or vessels, river steamers, vessels or boats as may be desired to run and use from or to the terminal points or on any water-course in connection with the road to be constructed by said company. structures at Sec. 9. The said company is hereby authorized and empow- Empowered to ered to erect and construct at or near the town of Southport, in erect certain the county of Brunswick, wharves, piers, docks, basins, ware- Southport. houses, elevators, cotton presses and coal shutes, suitable for the accommodation of steamships, vessels and boats and for the convenient loading, unloading, shipping, receiving and storing of all kinds of merchandise and personal property for safe keeping, and may conduct the business usually transacted by warehousemen, wharfingers and lightermen, and may charge and collect compensation for the storage, dockage, wharfage and lighterage May hold land. May condemn waterways. May acquire title to canals constructed by it. Election may and for all labor incident thereto, including the expense of weighing, insuring, keeping and delivering such merchandise or personal property at such rates and on such terms as may be agreed upon between it and its customers; and for any advances made by it on merchandise or property stored or deposited with it for shipment, and for all its charges and expenses incident thereto, the said company shall have a preferred lien on said merchandise and property, which shall be paid before the said company shall be required to deliver the same. Sec. 10. That said company is hereby fully empowered to take, by purchase or otherwise, and to hold in fee simple or any other manner any number of acres of land, besides what may be necessary for the right-of way, depots, warehouses, shops and other necessary buildings, not exceeding in value at any time the sum of one million dollars ($1,000,000): Provided, that the value of the land is to be fixed by the price paid for the same, and increase in value by improvements made by said corporation or otherwise not to be considered in ascertaining the value of the lands: Provided further, that this act shall not be construed to have any effect upon the valuation of said lands for taxation. Sec. 11. That the said corporation, for the purpose of drainage and for the purpose of navigation and transportation with any and all kinds of boats or rafts, is hereby vested with power to widen, deepen or straighten the channels or runs and to cut canals in the Green swamp and other swamps in the counties of Columbus and Brunswick, North Carolina, as may be useful or necessary in the conduct of the business of said corporation; and it is hereby vested with all the rights and privileges secured to canal companies by chapter thirty-eight of The Code of North Carolina and any amendments thereto. And in case said corpo ration is unable to agree with the owner for the purchase of any real estate required for the purpose of constructing any canal, it shall have the right to acquire title to the same in the same manner and by the special proceedings prescribed in chapter fortynine of said Code and any amendments thereto. Sec. 12. That upon the written application of one fifth of the qualified voters asking from any county, city, town or township any contribution, donation or subscription to its capital stock, said application stating the amount of donation or subscription asked, the terms and conditions of the same, the county commissioners of such county or proper authorities of such city, town or township shall appoint a day and order an election to be held thereon in such county, township, city or town in the manner prescribed by law for holding other elections, at which said election the legally qualified voters shall be entitled to vote for or given of election. against such subscription or donation. Said election to be held Notice shall be at the usual voting places after thirty days' notice specifying the amount of subscription, contribution or donation to be voted for, and to what company it is proposed to donate, contribute or subscribe, which notice shall be printed in some newspaper, if any there be published in said county, city, town or township, and by posting the same in three or more conspicious places therein; such election shall be held by persons appointed in the manner that persons are appointed for holding other elections in said county, city or town, and the returns thereof shall be made and the results declared and certified as prescribed by law in such Result of election other elections, and such results so verified shall be filed with the shall be certified. register of deeds in such county, city or town, and shall be taken as evidence of the same in any court in the state. Bonds shall be issued when the vote is favorable to subscription of stock. Sec. 13 That if the result of said election shall show that the majority of the qualified voters of said county, township, city or town favor said contract, contribution, donation or subscription to the capital stock of said railroad to the amount voted for in such election, then the said county commissioners, if said election shall have been held in a county or township thereof, or the proper authorities of said city or town, shall immediately make such subscription to the capital stock of said railroad, payable in cash or the bonds authorized to be issued under this act as may be agreed upon, shall issue the bonds of said county, township, city or town, to the amount so voted for at said election, in such forms and denominations and running for such length of time as may be determined on by said county commissioners or proper authorities of said city, town, county or township, bearing interest at a rate not greater than six per centum per annum, said Rate of interest interest to be payable semi-annually and evidenced by coupons on said bonds; and said designated authorities shall deliver said bonds so issued, or pay in cash, as may be agreed, to said Cape Fear Terminal Railway Company upon receiving therefor for the use and benefit of said county, township, city or town, proper certificates of stock in said company to the amount of subscription so voted as aforesaid. Sec. 14. That to provide for the interest on said bonds and their redemption at maturity, the county commissioners or proper authorities of any county, city, town or township shall, in addition to other taxes, each year compute and levy on all property and polls of any such county, township, city or town a sufficient tax to pay such interest, and after ten years a tax sufficient to provide each year for the interest on said subscription bonds, and a sum equal to one-fortieth of the principal thereof for a sinking fund; the sum levied and collected for said sinking fund to be paid over to the county treasurer or other officer of said county. city or town authorized by law to perform the duties of treasurer PRIV-41 of bonds. Proper authori ties empowered to levy special tax to pay interest and principal. |