may be necessary or proper to promote the objects, designs and pur- SEC. 9. That this act shall be in force from and after its ratification. CHAPTER 77. An act to incorporate the Carolina Buff and Brownstone Company. The General Assembly of North Carolina do enact: SECTION 1. That Charles M. Cassell, Walter H. Doyle, John W. Incorporators. Hinsdale, T. P. Devereux and Van B. Moore, their associates, suc cessors and assigns, are hereby constituted a body politic and corporate ers. under the name of the Carolina Buff and Brownstone Company, and Corporate name. under that name may sue and be sued, contract and be contracted Corporate powwith, adopt and use a common seal which it may change at pleasure, and enjoy all the rights and privileges, powers and franchises generally pertaining to corporations in this state. SEC. 2. That the capital stock of the said corporation shall be five Capital stock. thousand dollars in shares of the par value of one hundred dollars each, and said company shall have liberty to increase said capital stock at any time or from time to time to any sum not exceeding in the aggregate one hundred thousand dollars, and said shares may be paid in money, labor, land, material, stocks, bonds or other securities, Subscriptions, or in any other way that may be agreed upon by the company and how paid. its subscribers. SEC. 3. That said corporation may issue stock with such regulations Issuance of stock. as to such stock and dividends thereon as may be prescribed by the Dividends. stockholders in general meeting. ers. SEC. 4. That said corporation is hereby empowered to conduct, Corporate powtransact and carry on in all its branches the business of quarrying, mining, working, removing, dressing, manufacturing, buying and selling and dealing in all kinds of clay, stone, ores and minerals, and to purchase the clay, stone and mineral rights in lands other than those owned in fee by the company, and to buy, sell and deal in goods, wares and merchandise at its will and pleasure. SEC. 5. That said company shall have power to lease, purchase, Corporate powhold, sell and convey real estate and personal property of any descrip- ers. tion necessary for its business; to borrow money when so authorized by a two-third vote of the board of directors, and to issue bonds and other evidences of indebtedness and to secure the same by mortgage of its property, franchises and effects or otherwise. Authorized to build railroad, &c. Condemnation of land. Proviso. Authorized to lease, &c., railroad, &c. Directors. Officers. By-laws. Non-liability of stockholders for corporate debts. Place of business. Corporate exist ence. SEC. 6. That said company be and the same is hereby permitted to construct and operate a railroad or tramway from a point on the Cape Fear and Yadkin Valley Railroad or the Raleigh and Augusta Air Line Railroad in Moore or Chatham counties not to exceed fifteen miles in length, and branch roads on either side of the same not exceeding five miles in length, for the purpose of carrying freight and passengers. SEC. 7. That when any right-of-way may be required by the company for the purpose of constructing their road, and for want of agreement from any cause it cannot be purchased from the owner, the same may be condemned as provided for in chapter forty-nine of The Code to the extent of forty feet on each side of the track of the railroad, measuring from the centre of the same. And the company shall have power to appropriate and condemn land in like manner for the building and erection thereon of depots, warehouses, shops and houses for servants, employees and other purposes not exceeding two acres in any one lot or place: Provided, that the right of condemnation herein granted shall not authorize the said company to invade the dwelling-house, yard, garden, or burial ground of any individual without his consent. SEC. 8. That this corporation shall have power to lease or sell any railroad that may be constructed by it to any other railroad company operating in Moore county in North Carolina, and any other railroad shall have the power to lease or buy from this corporation any such railroad as may be constructed by it. SEC. 9. That said corporation shall be managed by a board of directors, to be elected by the stockholders; the said board of directors to consist of such a number of said stockholders and to hold their offices for such time or length of time as may be prescribed by the stockholders in general meeting. And said board of directors shall have power to elect such officers as they may deem necessary or expedient, to prescribe their duties, compensation and terms of ssrvice; and to make all such by-laws, rules and regulations for the management and proper conduct of the corporation and its business, not inconsistent with the constitution and laws of this state and of the United States, as they may deem proper and necessary. SEC. 10. That the stockholders shall not be individually liable for the debts, contracts and agreements of the company. SEC. 11. That the principal office and place of business of the company shall be at Raleigh, North Carolina. SEC. 12. That the duration of the said company shall be thirty years. SEC. 13. That this act shall be in force from and after its ratification. CHAPTER 78. An act to incorporate the town of Pendleton in North Carolina. The General Assembly of North Carolina do enact: SECTION 1. That the town of Pendleton in the county of Northamp- Incorporated. ton is hereby incorporated by the name and style of "Pendleton." Corporate name.] SEC. 2. That the corporate limits of said town shall be a space of Corporate limits. one thousand two hundred yards (1,200), running east and west six hundred yards (600), running north and south from a point where the county road and the Roanoke and Tar River Railroad intersect. SEC. 3. That the officers of said corporation shall consist of a mayor, Officers. five commissioners and a constable. SEC. 4. The first election for mayor and commissioners shall be held Election. the first Monday in May, one thousand eight hundred and ninetythree, until the officers under said first election qualify the following shall be the officers of said corporation upon qualifying, by giving the Temporary proper bonds and taking the prescribed oath: Mayor, K. R. Maddney; constable, D. K. Edwards; commissioners-J. I. Martin, J. R. Beale, O. N. Stephenson, W. I. Lee and T. O. Atkinson. officers. SEC. 5. That the authority to tax real and personal estate and polls Taxation. shall be governed by the law of the state applying to cities and towns. SEC. 6. That the commissioners of said town shall have the power By-laws. to make any by-laws or regulations for the government of said town not inconsistent with the laws of North Carolina. SEC. 7. That this act shall be in force from and after its ratification. CHAPTER 79. An act to amend an act to incorporate the Trustees of Turkey Creek The General Assembly of North Carolina do enact : amended. SECTION 1. That an act to incorporate the Trustees of Turkey Creek Chapter 357, priCamp Ground in the county of Buncombe, laws of eighteen hundred vate laws 1891, and ninety-one, chapter three hundred and fifty-seven, page one thousand four hundred and sixty-one, be amended as follows: Strike out in section one "the limits of said incorporation shall not embrace Corporate limits. more than fifty acres of land more or less" and insert "the limits of said incorporation shall extend one mile in all directions from the SEC. 2. That this act shall be in force from and after its ratification. Incorporators. Corporate name. Corporate pow ers. By-laws. Non-liability of corporators and stockholders for corporate debts. Corporate powers. CHAPTER 80. An act to incorporate the "Jones Mica Company." The General Assembly of North Carolina do enact: SECTION 1. That H. R. Jones, T. B. Vance, J. E. Traywick and G. H. Zimmerman, their associates and successors and assigns, be and are hereby created a body politic and corporate under the name and style of the "Jones Mica Company," with a capital stock of twenty thousand dollars, divided into shares of fifty dollars each, with liberty and authority to a majority of stockholders to increase said capital stock to an amount not exceeding fifty thousand dollars. SEC. 2. That as said corporation they shall have perpetual succession, and a common seal, which they may alter or break at pleasure. They may in their corporate name sue and be sued, prosecute and defend actions in all courts. They may buy, lease, exchange, hold, sell and convey property, real or personal, property with such water-powers and water-rights as may by them be deemed necessary for the purpose of manufacturing mica and reducing it from its crude state into merchantable mica flour, and together with all rights and privileges necessary to the transaction of its business, not inconsistent with the laws of North Carolina. SEC. 3. That said corporation may make such by-laws, rules and regulations as the stockholders may desire; may elect such officers as they may see fit and prescribe their duties, compensation and terms of office. SEC. 4. That the corporators and stockholders of said company, and their successors and assigns, shall not be individually or personally liable for debts, contracts or engagements of said corporation, and no stockholder shall be liable to pay for more stock than he subscribed for. SEC. 5. That said corporation shall have and exercise all the powers vested in corporations by sections six hundred and sixty-three, six hundred and sixty-four, and six hundred and sixty-five of The Code. SEC. 6. The principal place of business shall be at Plumtree Post office, in the county of Mitchell, and such other places in this state Place of business. as may be agreed upon by the corporation. SEC. 7. That this act shall be in force from and after its ratification. CHAPTER 81. An act to authorize the councilmen of Edenton to build a market-house. The General Assembly of North Carolina do enact : SECTION 1. That the board of councilmen of Edenton, North Caro- Election in Edenlina, be and they are hereby authorized and empowered to submit to or building ton on question an election by the qualified voters of said town the question as to market-house. whether or not a sum not exceeding two thousand dollars shall be expended for the purpose of buying a lot in said town and erecting thereon a market house, to be used under such regulations as said board may from time to time prescribe. SEC. 2. That said election shall be held at the court-house in Eden- Election, when and how held. ton on such day and in such manner as said board may designate, notice of same to be given for at least thirty days before the election is held; at such election every person who is a qualified elector of Electors. any ward in said town shall have the right to vote at the court-house. Those of the qualified electors favoring the expenditure of said Ballots. money shall vote a ballot on which is written or printed the words "For market"; and those opposed thereto a ballot on which is written or printed the words "Against market." Expenditure of SEC. 3. That the judge of said election shall make a written return Returns of elecof same to said board at their meeting next after said election, and tion. said board shall at said meeting ascertain and declare the result of same and have said result entered on the record of their proceeding. SEC. 4. That if a majority of the qualified electors of said town vote "For market," said board of councilmen may expend a sum not exceeding two thousand dollars from any taxes collected by said town for the purpose of buying such lot and building thereon a markethouse at such place in said town as they may deem most beneficial to the citizens of said town. SEC. 5. That this act shall be in force from and after its ratification. $2,000 authorized on affirmative vote of majority of qualified voters. |