loans on mortgages of real or personal estate at a rate of interest Empowered to not exceeding the legal rate, and to charge and receive from the negotiate loans, lender or borrower, or either of them, a reasonable commission

therefor.

etc.

Sec. 16. That the stockholders shall be authorized to change Name of bank the name of said bank and the name and title of the corporation may be changed. hereby created, and in case of such change of name, the new body politic and corporate shall succeed to all the rights, powers, property, privileges and liabilities conferred by this act upon the corporation hereby created.

ers.

ness.

Sec. 17. That said bank may receive and pay out all lawful Corporate powcurrency of its own issue under all rights, powers and authority and under such instructions as may be imposed by the laws of this state and of the United States as to circulation by state banks; may deal in exchange, gold and silver coin, current and Nature of busiuncurrent paper, public, municipal and other securities; and for the purpose of aiding planters, farmers, manufacturers and others, said bank shall and may have power to loan any sum or sums of money and to secure the payment of the same by taking in writing lien or liens upon the crops to be raised, either then planted or to be planted in the future, or upon any article or articles then in existence, and shall have power to make loans upon mortgages and deeds in trust of real and personal property, with power of sale inserted upon default of payment said bank shall also have power to receive in storage or warehouse any cotton, tobacco, wheat, corn, peanuts, potatces, oats or any other article of produce, trade or manufacture as a pledge or pledges for the payment of money or moneys loaned upon the faith of the same so due or advanced thereon, and upon failure to pay at the time agreed upon said property may be sold after the same advertisement as required for sale of personal property under chattel mortgage. Said bank may discount notes or other evidence of debt, buy or sell or otherwise deal in all commercial paper of every kind; may loan money to and receive deposits of the same from any and all persons, including corporations, minors, feme coverts, upon such terms and the manner and time of collection and payment as may be agreed upon, and may charge such rate of interest as allowed by the laws of the state, and may take and receive such interest at the time of making such loan or at such time as may be agreed upon. Said bank may invest in stocks, bonds or other securities of this state, the United States or any corporation, public or private, of this or any other state in the Union, and may issue its own bonds in such denominations, payable at such time and manner as it may see fit.

Property may be payments.

sold in default of

Deposits by

Sec. 18. That whenever any deposit shall be made by any minor or feme covert to said corporation, it may at its discretion pay coverts.

minors and feme

Corporation authorized to receive deposits.

Location of bank.

such minor or feme covert such sum or sums as may be required by them from such deposits; and any check, draft, order, receipt or acquittance of such minor or feme covert shall be to all intents and purposes valid in law to discharge the said corporation from any and all liability on account thereof.

Sec. 19. That said corporation is hereby authorized to receive on deposit all valuables, gold, silver, precious metals, jewels, certificates of stock, bonds, evidence of debt, instruments of title, and all other things of value which may be left on deposit with said corporation for safe keeping, and shall be entitled to charge such commission or compensation as may be agreed upon, and that said bank is authorized and empowered to accept and exercise any trust of any and every other description which may by its consent be committed or transferred to it by any person or persons whomsoever, by any bodies, politic or corporate, publie or private, and to accept the office of executor, administrator, collector, guardian or assignee whenever such appointment is made or conferred by any person or persons or court of the state or United States, and shall be clothed with the same power and shall be under the same restrictions as private individuals in the same capacity.

Sec. 20. That said bank shall be located [at] Dunn, North Carolina.

Sec. 21. That this act shall be in force and effect from and after its ratification.

Ratified the 6th day of March, A. D. 1899.

Section 1, chapter 85, private laws 1891, amended.

Section 2 amended.

Empowered to

cross certain railroads.

CHAPTER 317.

An act to amend chapter eighty-five of private laws of eighteen hundred and ninety-one.

The General Assembly of North Carolina do enact :

Section 1. That section one of chapter eighty-five of the private laws of eighteen hundred and ninety-one be amended by striking out in lines five and six of said section the words, "The Enterprise Land and Improvement Company of Cumberland county, North Carolina." and inserting in lieu thereof the words "Atlantic and Western Railroad Company."

Sec. 2. That section two of said chapter be amended by striking out in line three of said section the word “one” and inserting in lieu thereof the word “five."

Sec. 3. That section six of said chapter be amended by adding to said section the words "and the said Atlantic and Western

Railroad Company shall have the right to cross the Raleigh and Augusta Air Line Railroad with its track sixteen feet above the track of said Raleigh and Augusta Air Line Railroad, so as to reach the mills of said Atlantic and Western Railroad Company.” Sec. 4. That this act shall be in force from and after its ratification.

Ratified the 6th day of March, A. D. 1899.

CHAPTER 318.

An act to incorporate the Excelsior Electric Light, Waterworks and
Power Company.

The General Assembly of North Carolina do enact:

Section 1. That B. L. Davis, R. J. Cobb, C. T. Munford and Corporators.

J. L. Little, of the county of Pitt, and their associates, successors

and assigns, are hereby created a body politic and corporate un

der the name and style of the "Excelsior Electric Light. Water- Corporate name. works and Power Company" and by such name and title shall have perpetual succession, with all the rights, powers aud privileges granted to corporations by chapter sixteen of The Code, entitled "Corporations."

Sec. 2. That the capital stock of said corporation shall be ten Capital stock. thousand dollars, divided into shares of twenty-five dollars each;

and said corporation shall have power to increase its capital May be increased. stock from time to time to a sum not exceeding one hundred

thousand dollars when so authorized by a majority vote of the

stockholders.

tions.

Sec. 3. That said corporation shall have power and authority Nature of busito establish, construct and at all times maintain in or near the ness and opera town of Greenville a system of waterworks and an electric light and power plant for the purpose of supplying the said town, its inhabitants and others with water and electric lights and motive power for all public and private uses and purposes for which they may be desired, and to charge, demand and collect such reasonable rates for the use of water, electric lights and of said Rate of charges, motive power. And to this end said corporation shall have power and authority to borrow money, to make, negotiate and dispose of its promissory notes, bills and bonds, with or without coupon interest notes attached, to mortgage any or all of its property and franchise to secure the payment thereof.

etc.

Sec. 4 That said corporation shall at all times have power and Empowered to construct mains, authority to lay, build, construct, maintain and repair, tap and pipes, etc. remove all necessary pipes, mains, conductors, stand-pipes, hy

Proviso. Shall repair streets, etc.

Land may be condemned.

Proviso.

May enter upon lands for certain purposes.

Persons injuring property belonging to said company guilty of a misdemeanor.

Penalty.

May contract for supplying water

drants, fixtures and appurtenances in, upon, through and over any and all roads, streets, avenues, lanes, alleys and bridges within the said town and its vicinity; and also to dig any and all kind of wells, artesian or otherwise, that may be desirable for getting said water supply or establishing said electric light and motive power plants: Provided, however, it shall at its own expense and cost repair, replace and restore all streets, roads, avenues, etc., so used by it, and leave in as good condition as they were before such use. And said corporation, its officers, agents and servants may enter upon the land of any person or corporation for the above purposes, and may contract for and purchase the same; and in case any agreement can not be made between the corporation and the owner of the land or the person entitled to the beneficial interest therein, this corporation may have the same condenied to its use in the manner now provided for the condemnation of land for town purposes by the charter of said town of Greenville, and upon the same terms; and in case said land lies without the town of Greenville, then said land shall be condemned for the use of said corporation in the manner now provided by law for the condemnation of land for railroad or other public uses: Provided always, that said corporation shall pay all damages that may occur or be incurred by reason of the condemnation of land. And it shall at all times have the right to enter upon said lands for the purpose of repairing, improving or replacing said pipes, wells, electric light and motive power, fixtures, appliances, wires lamps, poles, etc., and also the right to enter at all proper hours into the stores, hotels, dwellings or other premises where said waterworks and electric light and motive power, fixtures, pipes, wires, lamps, etc., are located for the purpose of repairing, removing or replacing the same.

Sec. 5. Any person who shall willfully, wantonly or maliciously tap, remove, injure, deface or destroy any main, pipe, fire plug, wire, pole, hydrant, standpipe, tank, well, reservoir, aqueduct, pump, fixtures, machinery, structure or building of any kind belonging to said corporation and used by them for the purposes aforesaid, or who shall open, use or tamper with any fire plug or hydrant, electric wire, pole, lamp or apparatus belonging or appertaining to the works of said corporation, shall be guilty of a misdemeanor, and upon conviction shall be fined not exceeding fifty dollars or imprisoned not more than thirty days; and such person or persons shall also forfeit and pay to said corporation, to be sued for and recovered in an action of debt, the damages so sustained.

Sec. 6. That the said corporation is hereby authorized and empowered to contract with any and all persons, private and corporate, to supply the same with water for drinking, fire and other

purposes, and to furnish them with electric lights of any and all description, and with motive power produced by electricity, and to make such contracts with said parties as shall be mutually agreeable that are not in conflict with the laws of this state.

Sec 7. That said corporation shall have the power to engage Empowered to in the manufacture of ice, furniture and such other articles of engage in certain manufacturing merchandise as its board of directors may deem advisable, and to industries. purchase, construct, own and hold such warehouses, factories, buildings, machinery and other property as may be necessary, and may engage in such other business enterprises not forbidden by the laws of this state as its board of directors may determine.

Sec. 8. That said corporation may purchase, hold and convey May hold real real estate.

Sec. 9. That this act shall be in force from and after its ratification.

Ratified the 6th day of March, A. D. 1899.

estate.

CHAPTER 319.

An act to amend the charter of the town of Nashville, Nash county.

The General Assembly of North Carolina do enact :

Section 1. That the inhabitants of the town of Nashville, in

the county of Nash, shall continue as heretofore, a body corpo- Body corporate. rate under the name and style of "The Town of Nashville," and Corporate name. shall be subject to and have the benefits of all the provisions of chapter sixty-two, volume two, of The Code of North Carolina, except as hereinafter provided, and of such amendments as have been or may be hereafter from time to time made to the same.

Sec. 2. That the corporate limits of said town shall embrace Corporate limits. the following described territory, viz: Beginning at a stake on the old Raleigh road; thence south seventy degrees east one hundred and sixty poles to a red-oak on the Nashville and Wilson road; thence north twenty east two hundred and sixty-six poles to a pine in B. H. Sarsby's old field; thence north sixty degrees north one hundred and twenty-four poles to a stake in J. C. Harper' and T. T. Boss' line; thence south eighty-seven degrees west one hundred and two poles to a sweetgum on Stony creek at the mouth of a small drain; thence up the various courses of said creek to a turkey oak; thence south forty degrees west fifty poles to a stake on Stony creek; thence up the various courses of said creek to a red-oak; thence south twelve degrees west one hundred and forty poles to a stake; thence south eighty-five degrees east ninety-eight poles to the beginning.