requiring said party within fifteen days after such notice to pay to the said company all such advances, endorsements, guarantees, charges, storage, labor and expenses, with any interest that may have accrued thereon, and if within twenty days after personal service of said notice, or the mailing thereof as aforesaid, the same be not paid, it shall be lawful for the said company to sell such property at public sale after ten days notice upon such terms as to the company may seem best for all concerned, and after reserving the amount due the said company and paying the costs of sale the said company shall pay over the balance of the proceeds of the property to the party entitled thereto, on his surrender of the receipt or certificate given for said property. If the holder. of the receipt or certificate be unknown to said company, the notice may be given to the party to whom the receipt or certificate was originally given, or if he be deceased to his personal representative. Nothing contained in this section, however, shall be construed to prevent the said company from making any such sale at such earlier or later time and in such other manner as may be provided for in any contract or agreement made by any person or persons with said company. Authorized to mortgage. borrow money on SEC. 8. It shall be lawful for the said company to borrow such sums of money from time to time as may be necessary to carry out the provisions of this charter and to issue and dispose of its promissory notes or bonds for the amount borrowed; and the said company may mortgage, pledge or hypothecate any part of its corporate property or franchises to secure the payment of such bonds or promissory notes. SEC. 9. The stockholders of said company in general meeting shall By-laws. make and establish such by-laws, rules and regulations, not inconsistent with the laws of the state of North Carolina or of the United States, as they may deem proper for the management and control of the affairs and business of said company and the government of its officers, inspectors, agents, clerks and other employees, which shall be binding upon themselves and all persons in the employment of said company. directors. SEC. 10. At their first and every subsequent annual meeting the Election of stockholders shall elect seven of their number to constitute a board of directors, to remain in office until their next annual meeting or until their successors are elected. SEC. 11. Subject to the by-laws, rules and regulations of the com- Powers of directors. pany the board of directors shall have the management and control of its affairs and business. From their own body they shall elect a president, who shall preside at all meetings of the board and perform President. such other duties as may be prescribed for him by the stockholders or board of directors. His compensation, if any, shall be fixed by the board of directors. They may also choose a vice-president and an executive committee from their own number or from the body of Vice-president stockholders and prescribe their duties. Said officers shall remain committee. and executive in office for the term of one year or until their successors are elected. Other officers, &c. The said board of directors shall also appoint such officers, agents, inspectors and clerks as they may find necessary for the management of the company's business, and they shall provide for the securing of subscriptions to the capital stock of said company, which they shall make payable at such times and in such installments as they or the stockholders in general meeting may determine. Liability of stockholders, &c. Liability of company for care of property, &c. SEC. 12. The corporators, stockholders and their successors and assigns shall not be liable or responsible individually or personally for the debts, contracts, obligations or torts of the corporation beyond the amount of stock subscribed individually. SEC. 13. In the absence of any stipulations in the receipt or certificate or any contract between the said company and any depositor of such property in its storage warehouses, the said company shall be held and deemed to be liable to exercise such care in the custody and protection of such property as is required of all other bailees. SEC. 14. That this act shall be in force from and after its ratification. Chapter 16, private laws 1889, amended. land for streets. CHAPTER 102. An act to amend the charter of the town of Liberty, Randolph county. The General Assembly of North Carolina do enact: SECTION 1. That section five, chapter sixteen, private laws of one thousand eight hundred and eighty-nine, be amended by adding the Condemnation of following at the end of said section, to-wit: "When any land or right-of-way shall be required for the purpose of opening and laying out new streets or widening those already opened, and the landowner or owners and the commissioners of the town cannot agree upon the price which the landowner or owners will take and convey said land to the town, the same shall be taken at a valuation to be made by three freeholders of the said town, to be chosen as follows: The commissioners shall select one and the owner or owners of the land one, within three days after notice in writing to the landowner or owners from the commissioners of their selection; and the two freeholders thus selected shall select the third man, also a freeholder, and these three persons shall assess the damage, if there be any, within five days after the notice from the commissioners to the landowner or owners above mentioned; and if the owner or owners of the land fail to select a man within three days, as aforesaid, then the commission ers shall select two men; and the two thus selected shall assess the damage to the land within the time aforesaid, taking into consideration any benefit or advantage such owner or owners may receive from the opening or widening of such street, and shall report to the commissioners, which report on being confirmed by the commissioners and spread upon the minutes of said town, shall have the force and effect of a judgment in favor of said landowner or owners against said town and shall pass the title of said land to the said town: Provided, Right of appeal. that either party may appeal to the next term of the superior court of Randolph county, but no appeal shall delay the opening of any street. SEC. 2. That this act shall be in force from and after its ratification. CHAPTER 103. An act to amend an act to incorporate the Bank of Madison in the county of Rockingham. The General Assembly of North Carolina do enact: Vate laws 1889, amended. SECTION 1. That chapter ninety-three of the acts of eighteen hun- Chapter 93, pridred and eighty-nine, entitled "An act to incorporate the Bank of Madison in the county of Rockingham," be amended by inserting "one "in place of "two" and "five" instead of "ten" in section three of said act. To be organized dred shares are when one hun subscribed and five thousand SEC. 2. That this act shall be in force from and after its ratification. dollars paid. Ratified the 25th day of February, A. D. 1893. CHAPTER 104. An act to authorize the "Association of ex-Confederate Soldiers of Beaufort county" and the trustees of said association to dispose of certain real estate. WHEREAS, By chapter ninety-nine of the private laws of eighteen Preamble. Authorized to sell and convey certain land. Bogart, T. P. Ricaud, Decarton Jarvis, Edward S. Marsh, I. G. Berry, Thomas M. Allen, A. C. Latham, J. A. Oden, J. T. Respess, George H. Brown, senior, and others, were incorporated under the name of the "Association of ex-Confederate Soldiers of Beaufort County" for the purposes expressed in the said act; and whereas, on the seventeenth day of February, anno Domini eighteen hundred and eightyeight, Charles M. Brown and wife conveyed to the above-named parties as trustees for the association aforesaid a certain lot of land in the town of Washington, designated in the division of the lands of Thomas A. McNaid among his heirs at law as lot number eighty-six; and whereas, by reason of the passage of certain burial ordinances by the said town and for other reasons the said property cannot be used now for the purposes intended, and the said association and its trustees desire to sell the same; therefore, The General Assembly of North Carolina do enact : SECTION 1. That the "Association of ex-Confederate Soldiers of Beaufort county" and the trustees of the association named in the preamble shall have full power and authority to sell and convey in fee-simple discharged of all trusts the lot of land above described. SEC. 2. That this act shall be in force from and after its ratification. Chapter 27, private laws 1885, amended. Name of Keeversville changed to Plateau. Corporate limits. Temporary officers until first Monday of May, 1893, &c. CHAPTER 105. An act to change the name of Keeversville in Catawba county to Plateau. The General Assembly of North Carolina do enact: SECTION 1. That section one in chapter twenty-seven of the laws of eighteen hundred and eighty-five be amended by striking out the word "Keeversville" wherever it occurs and in its place insert the word "Plateau." SEC. 2. That section two be stricken out and the following substituted therefor, to-wit: "That the corporate limits of the said town shall be a circle with a house known as the storehouse of C. P. Shuford and Dankel as its center with a radius of one-half a mile in every direction." SEC. 3. That section three be amended by striking out the words "eighty-five" in the fifth line and insert the words " ninety-three," and by striking out all that part of said section following the word "to-wit" and in its stead insert the following: "For mayor, J. S. Goodman; and for commissioners, J. M. Clampitt, Charles Scronse and W. J. Boggs; and for constable, G. P. Ritchey. SEC. 4. That section four be amended by striking out the words Election on first Monday in May, "eighty-five" in line three and insert "ninety-three." 1893. SEC. 5. That the word Keeversville wherever found in this chapter Name changed. be stricken out and in its place insert “Plateau.” SEC. 6. That this act shall be in full force and effect after its ratifi cation. Ratified the 25th day of February, A. D. 1893. CHAPTER 106. An act to amend chapter three hundred and fifty (350) of the laws of one thousand eight hundred and ninety-one. The General Assembly of North Carolina do enact: Chapter 350, laavs 1891 (incorporating the Southcastern N. C. R. R. Co.) amended. Change of ter mini. SECTION 1. That section two of chapter three hundred and fifty (350) of the laws of one thousand eight hundred and ninety-one be amended by striking out from the word "at" in line three of said section to the word "Lillington" in line four of said section, both words inclusive, and inserting in lieu thereof "on the state line in Branch roads. Mecklenburg or Gaston county," and by inserting after the word "operating" in line seven of said section the words "a branch road from its main line to a point in the state line in either Robeson or Columbus county, and other." SEC. 2. That section five be amended by striking out all of line five Connection with other roads. from the word "and" to the word "Lenoir," both inclusive, and by inserting after the word "other" in line eight the words "or be connected directly or indirectly by means of intermediate railroads." SEC. 3. That section six be amended by adding after the word Authorized to "directly" in line seventeen the words "or indirectly." 66 SEC. 4. That section nine be amended by adding after the word 'company" in line five the words "and the completion and operation of such portion or section of its line shall not be construed to be a complete exercise of the powers of construction herein conferred, but said company may afterwards complete its line, construct and operate other sections thereof and build the branches herein provided for." SEC. 5. That this act shall be in force from and after its ratification. subscribe to stock of other roads indirectly con nected, &c. Construction of part of road not construed to be complete exercise of powers, &c. |