Interest coupons, how stamped. Said special tax shall be set aside as a distinct fund. When tax levied is insufficient to pay interest and principal. May sell or lease to other companies. Right to transport passengers, freight, etc. May construct or commissioner of sinking fund and by him invested in said bonds, and the amount of interest maturing on such bonds shall be collected and likewise invested; all said bonds when purchased, also all interest coupons attached shall be stamped "sinking fund" on face of same; but in case said treasurer or other officer shall be unable to invest the sinking funds herein provided for in said bonds at or below their par value, he shall invest the same in such solvent bonds or securities as may be selected and approved by the board of county commissioners aforesaid or proper authorities of any city or town. Sec. 15. That all taxes which shall be levied upon and collected from said railroad company by any county, city, town or township, under the general revenue acts, as from other citizens and property, upon any real or personal property belonging to said corporation and situated within said county, city, town or township, shall be set aside as a distinct fund and applied exclusively by the proper authorities thereof, if said county, city, town or township shall have subscribed to the capital stock of said company, and issue bonds in payment therefor to the liquidation and payment of the interest accruing on said bonds issued on account of such subscription so long as said bonds shall be outstanding and remaining unpaid. If the said tax so levied upon said company should be insufficient to pay the interest upon the said subscription bonds, then the difference shall be paid out of the tax to be levied and collected and provided in section twelve of this act; but if in any year the tax paid by said company should be more than the sum required to pay the said interest for that year, then the surplus may be applied to the general purposes of said county, city, town or township. Sec. 16. That the said company, after it shall have been organized, shall have the power to connect with any railroad company that has been already organized or that may hereafter be organized, or to sell or lease any part of [or] the whole of its main line or branches thereof to any other railroad company; and if a portion or the whole of either of said lines shall be sold to any other company, then the company purchasing shall take the line so purchased, with all the franchises herein granted as appurtenant and manage of [the] said line under its own corporate name. Sec. 17. That said company shall have exclusive right to carry and transport freight and passengers over and along said road, and upon vessels and boats run in connection with the same, at such rates as said company shall prescribe, subject to such general laws regulating the same as the general assembly may from time to time establish. Sec. 18. That the said company may construct a part of the. without complet- said road without building the entire line, and may charge for ing road. transportation thereon, beginning at or near Wilmington or Southport, North Carolina. route as company Sec. 19. That said company may build its roads by such route Road may be as it may deem most advantageous and expedient, and shall built by such have the right to cross any navigable stream or canal on its deems best. route: Provided, a draw sufficient not to impede navigation is placed in its bridges over such streams or canals. construct telegraph or telephone line. Sec 20. That the said company is empowered to construct and Empowered to operate a telegraph or telephone line upon any part of its route. Sec. 21. That this act shall be in force from and after its ratification, and all laws and clauses of laws in conflict with this act are hereby repealed. Ratified the 6th day of March, A. D. 1899. CHAPTER 231. An act to incorporate "Linden Grove Number Two (2) United Ancient The General Assembly of North Carolina do enact: Section 1. That George Ziegler, Aquilla J. Marshall, Dr. Frank Corporators. H. Russell, and all others who are members at present and all who in future may become members of "Linden Grove Number Corporate name. Two (2) of the United Ancient Order of Druids," a charitable and fraternal institution located and existing in the city of Wil- Where located. mington and in the county of New Hanover, are hereby constituted and declared to be a body politic and corporate in deed and in law under the name, style and title of "Linden Grove Number Two, United Ancient Order of Druids," and by such corporate name shall have perpetual succession and shall be forever capable in law to take, hold and sell real estate in fee simple or otherwise, and to mortgage and let the same, and to take and [any] real or personal estate by purchase, gift, grant, Corporate powers devise or bequest or by other lawful means, and sell, transfer or and rights." dispose of the same; to borrow or lend money and to give or take any and all kinds of security or securities for the same; to have a common seal, and the same to break, alter and renew at pleasure; to sue and be sued, plead and be impleaded; to make, pass, accept, establish, adopt, change, alter and amend from time to time and to put into execution any and all such by-laws, rules and regulations necessary to maintain, conduct and carry on the affairs of the corporation, and generally to do and perform all such matters and things that may be necessary as shall not be Individual .lability. inconsistent with the constitution and laws of this state or the constitution of the United States. Sec. 2. That no member shall be held individually liable for any debts or liabilities of the corporation. Sec. 3. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. Corporators. Body corporate. Object and purpose of corporation. Principal place of business. Duration of charter. No dividends or capital stock. Principal officers of corporation. Corporation, how governed. CHAPTER 232. An act to incorporate the "United Benefit Society" of the city of The General Assembly of North Carolina do enact: Section 1. That John McRae, B. C. Wright, John H. Webber, James G. Blain and Charles H. Stanford, and all other persons who may become members by application and acceptance, be and they are hereby constituted a body politic and corporate under the name and style of the "United Benefit Society," of Wilmington, North Carolina. Sec. 2. That the object and purpose of said corporation shall be to promote the general good and welfare of its members and their families, to improve their social and literary standing; to build, erect and maintain schools and academies whenever they may deem it necessary and expedient, and to provide means to defray the funeral and burial expenses of its members. Sec. 3. That the principal place of operation of said business society shall be in the city of Wilmington, but that branch societies may be organized from time to time in any part of the state under such laws, rules and regulations as may be prescribed by said corporation. Sec. 4. That the length of duration of said corporation shall be thirty years. Sec. 5. That there shall be no capital stock and no dividends or profits paid to its members, nor shall any member be held individually liable for any debts or liabilities of said corporation. Sec. 6. The principal officers shall be a president, vice-president, secretary, treasurer and a board of advisors, consisting of five members, of which the president shall be ex officio chairman. The offices of secretary and treasurer may be consolidated and held by one member, and the office of vice-president may not be filled if the board of advisors shall so elect. Sec. 7. The corporation shall be governed by the officers and advisors, who shall be elected and hold office at such times and in such manner and for such terms, and who shall have powers and authority, as shall be prescribed in by-laws regularly adopted for its government. May take, hold and sell real estate Sec. 8. That the corporation shall be capable in law to take, hold and sell real estate, in fee simple or otherwise, and to mortgage and let the same, and to take and hold real and personal estate by purchase, gift, grant, devise or bequest or by other lawful means, and to sell, transfer or dispose of the same; to borrow or lend money, and to give or take any and all kinds of security or securities for the same; to have a common seal, and the seal. same to break, alter and renew at pleasure; to sue and be sued, plead and be impleaded; to prescribe and fix the amount or amounts of funeral benefits to be paid upon the death of any of its members, and to whom paid; to fix and regulate the amount of dues, fines or assessments to be paid by each member; and to make, pass, accept, establish, adopt, alter and amend from time to time and to put into execution, any and all such by-laws, rules, conditions and regulations necessary to organize, conduct, maintain and carry on the affairs of the corporation and generally to do and perform all such matters and things that may be necessary as shall not be inconsistent with the constitution and laws of this state or the constitution of the United States. Sec. 9. That it shall have full power and authority to regulate Regulation of membership. and prescribe its membership and to reject any and all applications for membership, and to expel any member or members for immoral conduct, drunkenness, engaging in immoral business, non payment of dues, fines or assessments, or for any other cause which may appear just and reasonable to the board of advisors, after due consideration, under such rules and regulations as may be prescribed in its by-laws. Sec. 10. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. CHAPTER 233. An act to amend the charter of Mount Airy. The General Assembly of North Carolina do enact: Section 1. That section four of chapter ninety of the private section 4, chapter laws of eighteen hundred and ninety-seven be and the same is 90, private laws of 1897, repealed. hereby repealed. Sec. 2. That the commissioners of the town of Mount Airy shall order an election to be held on the first Monday in July, eight Election shall question of sale be ordered on of liquors. Form of ballot. Manner of holding election. Commissioners shall give notice. Judges of elec een hundred and ninety-nine, in the town of Mount Airy to ascertain whether or not spirituous or malt liquors may be sold in the said town. At said election those in favor of sale shall vote a written or printed ballot with the word "License," and those opposed to sale shall vote a written or printed ballot with the words "No license." The manner of holding such election and the penalties for illegal and fraudulent voting in this election shall be the same as in the annual elections for mayor and commissioners of the town of Mount Airy. The commissioners shall give thirty days' notice of the time of holding said election in a newspaper published in the town. Sec. 3. That the judges of election shall on the day following tion shall declare the election declare the number of votes cast for and against the result. Conflicting laws repealed. sale, and if a majority of the votes cast at such election shall have written or printed thereon the words "No license," it shall be unlawful for the commissioners of the town of Mount Airy or the commissioners of the county of Surry to grant a license to any person or persons or corporation to sell spirituous or malt liquors with [within] the corporate limits of the town of Mount Airy until another election shall be held reversing such election. Sec. 4. That all laws and clauses of laws in conflict herewith are hereby repealed. Ratified the 6th day of March, A. D. 1899. Commissioners of Waynesville authorized to grant franchise for five years to certain enterprises. CHAPTER 234: An act relating to electric lights and telephones in the town of The General Assembly of North Carolina do enact : Section 1. That the board of aldermen of the town of Waynesville are hereby authorized and empowered, if in their opinion they should deem it necessary, in order to secure for said town electric lights and telephones, or either, to grant to any person or persons, corporation or corporations, the exclusive privilege of constructing, equipping and operating a system of electric lights and telephones, or either, in said town, for five years from the first day of May, eighteen hundred and ninety-nine, under such rules and regulations as the said beard of aldermen may prescribe. Sec. 2. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1899. |