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Chapter 43, pri-
vate laws 1881
(incorporating
Goldsboro)
amended.
Maximum of
license tax on
certain subjects.
Execution of

criminal process
by policemen.

Dividing line between fourth and fifth wards.

Chapter 61, pri-
vate laws 1891
(authorizing city
to issue sewerage
bonds) amended.
Amount of issue
increased.

Authorized to

construct system of sewerage, &c.

Condemnation of land beyond corporate limits.

Assessments on abutting lands for

CHAPTER 107.

An act relating to the city of Goldsboro.

The General Assembly of North Carolina do enact :

SECTION 1. That section forty-three (43) of chapter fifty (50) of the private laws of eighteen hundred and eighty-one be amended by striking out the word "fifty" in line three of said section and inserting in lieu thereof the words "one hundred."

SEC. 2. That the policemen of the city of Goldsboro shall have power to execute any criminal process issuing upon offences committed in said city anywhere in the county of Wayne.

SEC. 3. That the dividing line between the fourth and fifth wards of said city shall be what is known as the "Big Ditch;" all that part of said city lying on the east side of said ditch shall be and remain the fifth ward, and all that part thereof lying on the west side of said ditch and heretofore being a part of said fifth ward shall be and become a part of the fourth ward.

SEC. 4. That section one, line seven (7), of chapter sixty-one (61) of the private laws of eighteen hundred and ninety-one be amended by striking out the words "forty thousand" and inserting in lieu thereof the words "fifty thousand," and, as thus amended, that sections one, two, three, four and five of said chapter be and the same are hereby re-enacted.

SEC. 5. That the city of Goldsboro may construct, or contract for the construction of, a system of sewerage for said city, and protect and regulate the same by adequate ordinances; and if it shall be necessary in obtaining proper outlets for the said system to extend the same beyond the corporate limits of said city, then in such case the board of aldermen of said city shall have power to so extend it, and both within and without the said corporate limits to condemn land for the purposes of right-of-way or other requirements of said system, the proceedings for such condemnation to be the same as those prescribed in chapter forty-nine (49), volume one (1) of The Code.

SEC. 6. That the city of Goldsboro shall have power, in its discrepaving, sewerage, tion, to assess owners of land abutting on streets paved by said city

&c.

with an amount not to exceed one-third of the actual cost of such paving in front of such abutting land, and if said city shall construct a partial system of sewerage it shall have like power of assessing not exceeding one-third of the actual cost of such sewer in front of such abutting land, but the cost of common outlets shall not be so assessed; and the cost thereof as herein provided for may be assessed upon such abutting property and added to the taxes on the same, and collected in the same manner that other taxes or assessments are collected, or

judgment may be taken by said city before the mayor or any justice
of the peace or the superior court of Wayne county for the same; and
when docketed in the superior court of said county such judgment
shall have the same lien as is possessed by other judgments docketed
in said superior court and be enforced in like manner.

SEC. 7. That this act shall be in force from and after its ratification.
Ratified the 25th day of February, A. D. 1893.

CHAPTER 108.

An act to amend chapter four hundred and fifty of the laws of eighteen hundred and eighty-nine.

The General Assembly of North Carolina do enact :

minus.

SECTION 1. That chapter four hundred and fifty of the laws of eigh- Chapter 450, laws teen hundred and eighty-nine, entitled "An act to incorporate the 1889, amended. Maxton and Northwestern Railroad Company," be and the same is hereby amended as follows: After the word "railroad" in line eleven of section one and before the word "by" insert the words "and to the Tennessee or Virginia line west of the county of Stokes," and at Change of terthe end of said section one add the following words "and is also authorized to build or construct a railroad from Maxton, North Carolina, south or east to Southport, North Carolina, or such other point as may be necessary to reach deep water on the Atlantic coast." SEC. 2. Amend section three by adding to the end of the same the Subscriptions to words "and individuals, municipal or other corporations may sub- capital stock. scribe to the capital stock of said company."

Authorized to Maxton to South

build road from

port.

land.

SEC. 3. Amend section eight by substituting the following: "This Condemnation of corporation shall have all the powers, privileges and rights relating to the condemnation and acquisition of real estate for right-of-way, depot and warehouse sites, and other necessary purposes, which are provided for and set out in chapter, forty-nine of The Code and the acts amendatory thereof."

SEC. 4. Amend section eleven by inserting after the word "pass" Election on ques and before the word “or” in line three of said section the following tion in counties, tion of subscripwords, or proposed as a probable route," and be further amended &c., through which road is by striking out all of line six of said section before the word "order" proposed as a probable route. and insert in lieu thereof the word "shall." On petition, elecordered, &c. tion shall be

SEC. 5. Amend section seventeen as follows: By adding to end of said section the words "and this company is further authorized to

Authorized to purchase other roads, &c. Conflicting laws repealed.

buy or purchase such other railroad or railroads as may be necessary or deemed advisable by said company."

SEC. 6. All laws or clauses of laws in conflict with this act are hereby repealed.

Ratified the 25th day of February, A. D. 1893.

Incorporators.

Corporate name. Corporate purposes.

Corporate pow

ers.

Organization.

Capital stock.

Classification of capital stock.

Stock-vote.

CHAPTER 109.

An act to incorporate the Columbus Land and improvement Company.

The General Assembly of North Carolina do enact:

SECTION 1. That J. A. Brown, R. E. L. Brown, J. B. Schulken, I. M. Powell, J. A. Smith, W. G. Burkhead, H. C. Moffitt, their associates, successors and assigns, are hereby created a body politic and corporate by the name of the Columbus Land and Improvement Company for the purpose of acquiring and owning, land and other property in the state of North Carolina, of leasing and selling the same, of building upon, draining and otherwise improving the same, and of conducting a general business in real estate; by said name may contract and be contracted with, sue and be sued, plead and be impleaded in all the courts of this state; may have a common seal which it may alter at pleasure, and shall at all times be entitled to all the rights, privileges and immunities of corporations as provided in chapter sixteen of The Code, entitled "Corporations."

SEC. 2. That no notice or publication of the first meeting of the said corporation shall be required, but the same may be held at such time and place as the said corporators or a majority of them may determine, at which meeting they may elect such officers and agents as may be deemed proper and advisable to hold office for such terms and until others are duly elected or appointed as hereinafter provided.

Said

SEC. 3. That the capital stock of this corporation shall be such an amount as shall be fixed by the corporators herein named, not exceeding twenty-five thousand dollars at its organization; and the capital stock may be increased from time to time by a vote of the stockholders in the manner to be provided by the by-laws of the corporation, not to exceed ultimately one hundred thousand dollars. capital stock may be divided into classes by the by-laws of the corporation, which said by-laws shall prescribe the amount or par value of the shares of the several classes and the manner of paying for the same and the transfer thereof, and each share shall entitle the holder to one vote in all meetings of the stockholders, and all elections by them held.

SEC. 4. That there shall be an annual meeting of the stockholders Annual meeting of stockholders. on such day as may be fixed by the by-laws; and in case such meeting is not held on such day for any cause it may be held at any time to be thereafter appointed by the board of directors or upon the call of stockholders holding at least one-fifth of the capital stock of the corporation: Provided, other meetings of the corporation may be Proviso. called in the same manner at any time whenever it may be deemed

the interest of the corporation requires such meetings.

SEC. 5. That said corporation may issue its capital stock for money Subscriptions, paid into its treasury, or in payment for property purchased by the how paid. corporation, or services rendered to it, in such amounts as the direc

tors may provide or order, and all stock so issued shall be deemed to

be and be fully paid-up stock, and the holders thereof shall not in any Non-liability of stockholders. event be liable personally for any debt or obligations contracted by the corporation.

ers.

SEC. 6. That the said corporation shall have full power and author- Corporate powity (a) To acquire lands and other property in said state not exceeding in value one hundred thousand dollars at the time the same are purchased by said corporation, the value to be determined by the price paid by the corporation for such lands; nor to hold more than said amount for a longer time than thirty years; (b) To issue bonds or other evidences of debt of the company and to secure said bonds or evidences of debt; shall have power to mortgage or pledge its property, real, personal and mixed, or any part thereof, and the franchises of said company; and any mortgages so made and duly registered in the county where property lies shall constitute a lien on said property; (c) To develop, drain, improve and turn to account any land or other property acquired by or in which the company is interested, and for that purpose to carry on all or any business of real estate agents or brokers, by subdividing and selling or leasing the same or any part thereof; to build upon said lands, or otherwise to aid, encourage and promote others to build upon the same; and to that end may take mortgages on the same, to deal with, manufacture and render salable the timber found on said property; to build and equip with rollingstock and other stocks, and operate tram, turnpike and other roads connecting the property of the corporation with other roads of any and all kinds; and whenever it may become necessary for the purpose of constructing its said roads, canals, dams or other works to enter upon any lands to which it may not have title or the right of possession, and is unable to agree with the owner thereof for the compensation therefor, the mode of procedure to secure the condemnation of such lands shall be as is prescribed by law.

SEC. 7. That said company may require such of its officers, agents Bonds of officers, and servants as the directors may think proper to give bonds condi- &c.

tioned for the faithful discharge of their several duties.

SEC. 8. That it shall be the duty of the president and directors at

Annual reports by president, &c. Books open to inspection. Certain rules binding on corporation.

Corporate exist

ence.

Certain conflicting sections of Code declared inoperative, &c.

least once a year and oftener if thereto required, to make a report to the shareholders, of the true state of the company, its operations, assets, debts and finances, and the books and accounts of the company shall at all times be open to the inspection of any shareholder.

SEC. 9. That the following rules and regulations shall be binding on the corporation unless and until the same shall be changed or repealed by a two-thirds vote of the shareholders, to-wit: (1) at all general meetings of the company each shareholder shall be entitled to vote in person or by proxy, and all elections shall be by ballot unless otherwise ordered, each shareholder being entitled to one vote for each share held by him; (2) at each annual meeting the stockholders shall elect a president, vice-president, a treasurer and secretary and directors, and all other officers, agents and servants shall be elected by the president and directors; (3) the president and directors shall constitute the board of directors, to whom shall be entrusted the general management of the corporation, who shall have power to fill vacancies occurring in the board for the unexpired remainder of the term of service; (4) no share shall be transferred upon the books of the company until all previous calls thereon have been fully paid or until declared forfeited for non-payment of calls thereon; (5) the directors may declare dividends from time to time, but no dividend shall be declared when the company is insolvent, or when the payment of the dividend would render the company insolvent or greatly diminish its capital stock or embarrass its future operations.

SEC. 10. This corporation shall exist and be in force and effect for a period of thirty years from the day of the ratification of this act.

SEC. 11. That all sections or parts of sections of chapter forty-nine of The Code of North Carolina in conflict with the provisions of this act are hereby declared inoperative so far as they affect the privileges, rights and powers hereby conferred.

SEC. 12. That this act shall be in force from and after its ratification.
Ratified the 25th day of February, A. D. 1893.

Chapter 564, laws 1891, amended.

CHAPTER 110.

An act to amend an act entitled "An act to incorporate the Lower Creek and Linville Valley Transportation Company," being chapter five hundred and sixty-four of the laws of eighteen hundred and ninety-one.

The General Assembly of North Carolina do enact:

SECTION 1. That chapter five hundred and sixty-four of the laws of eighteen hundred and ninety-one be amended by striking out the words "the Lower Creek and Linville Valley Transportation Com

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