eighteen hundred and ninety-three, be and the same is hereby amended to read as follows: Section 1. The board of commissioners of the town of Salisbury are hereby authorized to issue to the holder or holders of said bonds new negotiable coupon bonds of the denomination of one thousand dollars each designated series A, to be dated June the first, eighteen hundred and ninety-one, and to be signed and executed and to be due and payable in the same manner, amounts and at the same time as the bonds heretofore issued, and to bear interest at the rate of five per centum per annum, payable annually on the first days of June, principal and interest payable at such place or places in the city of New York as may be designated by the said board of commissioners of the town of Salisbury in exchange for the bonds heretofore issued under said act dollar for dollar: Provided, that the total amount of bonds so issued in exchange does not exceed the sum of fifty thousand dollars: And provided further, that interest coupons be attached to such new bonds only from the date of the maturity of the last coupons paid on the old bonds. SEC. 2. That an act entitled "An act to amend chapter fifty-nine of the private laws of eighteen hundred and ninety-one," being an act to amend the charter of the town of Salisbury, ratified the eleventh day of February, eighteen hundred and ninety-three, is hereby repealed. SEC. 3. That this act shall take effect from and after its ratification. Chapter 267, private laws 1891, amended. CHAPTER 90. An act to amend the charter of the town of Whiteville, Columbus county. The General Assembly of North Carolina do enact: SECTION 1. That chapter two hundred and sixty-seven of the private laws of one thousand eight hundred and ninety-one be amended by inserting after section twenty-two (22) and before section twentyImprisonment in three (23) the following, namely: Section 221. Any person convicted person failing to of violating any ordinance of said town who shall not immediately pay the fine imposed on him may be imprisoned in the town calaboose for a space not to exceed thirty days. town calaboose of pay fine. SEC. 3. That this act shall be in force from and after its ratification. CHAPTER 91. An act to extend the charter of the Saint Augustine Normal School and WHEREAS, On July nineteenth, eighteen hundred and sixty-seven, Preamble. the Saint Augustine Normal School and Collegiate Institute was incorporated by letters patent issued under sections fourteen and fifteen of chapter twenty-six of the Revised Code of North Carolina for promoting the education and elevation of the colored people of the United States, or some of them, to continue for thirty years; and whereas, under said letters patent the said corporation was duly organized and has since been in successful operation; now, therefore, The General Assembly of North Carolina do enact : validated. SECTION 1. That said incorporation and organization of said com- Incorporation pany is hereby ratified and confirmed, and it is hereby declared that the same is a body politic and corporate, with all the powers and franchises heretofore granted to it, and with the power to hold and Corporate powown such real and personal property as may be necessary or convenient for the objects of its creation. ers. SEC. 2. That the corporate name of said body be changed to Saint Corporate name changed. Augustine's School. SEC. 3. That the board of trustees shall consist of the Bishop of the Board of trustees. Protestant Episcopal Church in the diocese, North Carolina, and cleri cal and lay members of the same. SEC. 4. That the existence of said corporation is hereby extended Corporate existfor the period of ninety-nine years. SEC. 5. That this act shall be in force from and after its ratification. ence. CHAPTER 92. An act to incorporate the Enterprise Mills, Kings Mountain, Cleveland county. The General Assembly of North Carolina do enact : SECTION 1. That W. O. Ware, W. A. Ware, W. A. Falls, O. G. Falls, Incorporators. C. E. Falls, F. A. Carroll, M. M. Carpenter, A. P. Carpenter, James A. Walls, and their associates and successors, are hereby made and created a body corporate in law under the name and style of Enter Corporate name. Corporate purposes and powers. Corporate pow ers. Temporary directors. Capital stock. prise Mills, for the purpose of manufacturing, dyeing, printing, finishing and selling all goods and textiles made of cotton or wool or of which cotton or other fibrous articles may form a part, and for making cotton-seed oil; and shall have power to take, hold, purchase, exchange, sell and convey real estate in fee-simple and otherwise, and build upon and improve, lease and rent estate, lay off and open streets. SEC. 2. That said corporation is further authorized and empowered to construct, erect and maintain electric light works and plants, street railways and tramways for the transportation of persons and their baggage, goods, wares, merchandise and other property; to manufacture, buy and sell all articles made of wood, iron, steel, tin or other metal, or a combination of all or any of the same; to make, manufacture, buy and sell brick, pipe, tiles, and all kinds of articles made out of clay, sand or dirt; to buy and sell all kinds of goods, wares and merchandise, and carry on the business of general merchandise, and for the transaction of all such business as may be connected therewith; and may erect such mills, buildings, machine-shops and other works as may be required or necessary to carry on such branches of manufacture and business; and do any and all things that may be necessary to the proper conduct of any and all of its purposes aforesaid, including the buying and selling of all kinds of material and property of every description used and needed in any of its contemplated business aforesaid; or engage in any other enterprise not prohibited by the laws of the state, including the business of banking, with all the rights, powers and privileges granted to bank corporations by the legislature of North Carolina, with the right to secure any loan made or money advanced by mortgage or otherwise at any rate agreed upon not inconsistent with the laws of the state; and shall also have such rights as are granted to any of the savings banks; and shall have the right to issue bonds, certificates of preferred stock or other evidence of indebtedness, and secure the same by mortgage or deed of trust on any or all of its property, real or personal. SEC. 3. That the affairs of said corporation shall be managed by a board of directors, the number to be decided by the stockholders, to be elected annually by the stockholders and to hold office until their successors are elected and qualified, and said directors shall have power to fill any vacancy that may occur. SEC. 4. That W. O. Ware, W. A. Falls, O. G. Falls, C. E. Falls, M. M. Carpenter, F. A. Carroll and James A. Ware are hereby appointed a board of directors, to hold office until the next and first annual and general meeting of the stockholders. SEC. 5. That said corporation shall have power to raise by subscription, in shares of fifty dollars each, a capital of thirty thousand dollars, with the privilege of increasing the same from time to time to an amount not to exceed three hundred thousand dollars, the said capital to be paid for either in money, real estate, building material, Subscriptions. ness. SEC. 7. That said corporation shall have power to sue and be sued Corporate busiin any courts of law and equity, have and use a common seal which may be changed at pleasure, and make such by-laws and regulations for their government as they may deem proper and necessary, not inconsistent with the constitution and laws of the United States and of this state; and shall have generally all the rights, powers and privileges in law incident or appertaining to corporations. property. Not to be loaned, SEC. 8. That the capital stock shall be deemed personal property Capital stock to and transferable on the books of the said corporation: and no part of be personal the capital stock shall at any time or upon any pretense whatever be loaned or divided amongst the stockholders, neither shall the capital be withdrawn or divided amongst the stockholders until all the liabilities of the company are lawfully paid; and no dividend shall be Dividends. declared except from the net earnings of the company. Each stockholder shall have one vote for each share which he may own or repre- Stock-vote. sent at the election of directors and at all meetings of the company. to pay, &c. SEC. 9. That if the proprietor of any share shall neglect to pay the Remedy against installments assessed thereon for the space of thirty days after time subscriber failing appointed for the payment thereof, the treasurer of the corporation may by order of the president and a majority of the directors sell at public auction such number of delinquent shares as may be necessary to pay such assessments and expenses of such sale: Provided, that Proviso. such sale be advertised for three weeks successively in some newspaper published in the county, and a bill of sale by the president of said corporation shall transfer such shares to the purchaser and entitle him to a certificate thereof: Provided further, that nothing herein Proviso. shall prevent the collection of the installments by action of law. SEC. 10. No stockholder of said company shall be held liable for the Liability of stockdebts, contracts and acts of said corporation beyond the amount of holder for corporate debts. stock actually subscribed by such stockholder, and the stock of said corporation is non-assessable. SEC. 11. That this act shall be in force for thirty years from and after its ratification. Ratified the 21st day of February, A. D. 1893. Incorporators. Corporate name. ers. Authorized to build railroad. Route. Corporate pow ers. Capital stock. CHAPTER 93. An act to incorporate the Winston-Salem and Charleston Railroad Company. The General Assembly of North Carolina do enact: SECTION 1. That F. H. Fries, J. C. Buxton, C. B. Watson, H. E. Fries, C. H. Fogle, Jas. A. Grey, J. W. Haynes, T. J. Brown, W. A. Blair, H. T. Bahnson, H. F. Shaffner, T. H. Sutton and H. R. Starbuck, and such other persons as may now or hereafter be associated with them, their successors and assigns, are hereby created a body politic and corporate, with perpetual succession, under the name and style of Winston-Salem and Charleston Railroad Company, and by that name may sue and be sued, plead and be impleaded, may adopt a common seal and alter and change the same at will, and may make and adopt such by-laws for the government of said company or the management of its affairs as may be deemed necessary: Provided, the same shall not conflict with the laws of this state or of the United States, and shall have all the general powers and be subject to all the general restrictions granted or imposed by the laws of this state upon railroad companies or other corporations. SEC. 2. The said company shall have and is hereby given the right and power to locate, construct, equip, maintain and operate a railroad, with one or more tracks, from some point in or near the town of Winston, or in or near the town of Salem, in the county of Forsyth, in this state, through the said county of Forsyth and the counties of Davidson, Stanly, Montgomery, Cabarrus, Union and Anson, or any of them, by such line as may be adopted by said company, to a point in or near the town of Wadesborough, in Anson county, and thence through the county of Anson to a point on the line between the states of North and South Carolina, with the right to acquire by purchase or to take by gift or devise or to condemn in the manner provided by the general laws of this state any and all such real estate as may be necessary for carrying out the intent and object of this charter; and in addition thereto shall have the power and authority to acquire, hold, own, operate or lease any quarries, mines, coal-beds, lumber-yards, or furnaces in any of the counties through any part of which its road or branches may extend or pass, and to build branch roads from any part of its main line not exceeding fifty miles in length. SEC. 3. The capital stock of the said company shall not exceed five million dollars, to be divided into shares of one hundred dollars each. As soon as twenty-five thousand dollars shall have been subscribed towards the capital stock of the said company the same may be duly organized, and thereafter the capital stock may be increased from |