tion. act as judges of the election hereinafter provided for, who shall hold Judges of elec- be under the supervision and control of the sheriff of Cumberland held, &c. effect. SEC. 57. This act shall be in force from and after its ratification by When act to take the majority of the qualified voters of Fayetteville at an election to be held the last Tuesday in March, one thousand eight hundred and ninety-three. Ratified the 1st day of March, A. D. 1893. CHAPTER 154. An act to incorporate the "North Carolina Investment Company." The General Assembly of North Carolina do enact : SECTION 1. That R. B. Sperry, of Baltimore, Maryland; B. S. Jer- Incorporators. man and C. M. Hawkins, their associates, successors and assigns, are hereby created a body politic and corporate for the uses, purposes and intents of this act, under the name and style of the "North Caro- Corporate name. lina Investment Company," and as such they shall exist for a period Corporate existof sixty years, and have all rights, powers and privileges conferred ence and powers. upon corporations under the general laws of North Carolina. SEC. 2. That said company shall have power to purchase, lease, Corporate pow. hold, sell and convey real or personal estate. ers. ers. SEC. 3. Shall have power to construct and erect gas-works, water- Corporate pow works, electric light and power works and street railways in any city or town in this state, subject to the consent of said city or town, and to that end may do any and all things necessary for the proper conduct of the business, not inconsistent with the laws of North Carolina. SEC. 4. Shall have power to purchase, lease, operate, hold and con- Corporate pow vey water-works, gas-works, electric light and power works, street ers. railways; and should this company at any time purchase or lease the property of any other company or corporation, power and authority is hereby given to said company or corporation to transfer therewith all of its powers, rights and privileges, and to this company to take the same. Capital stock. Subscriptions, how paid. Corporate pow ers. Non-liability of stockholders. SEC. 5. The capital stock of said company shall not be less than fifty thousand dollars or more than one million dollars, divided into shares of one hundred dollars each, which may be paid for either in cash, personal or real estate as the company may deem best. SEC. 6. Shall have the power to sell, grant, convey, improve, manage, develop, lease, mortgage, dispose of or otherwise deal with any or all parts of the property of the company through its proper officers; to issue mortgage bonds, with or without coupons, upon any or all the company's property; to execute promissory notes or other negotiable instruments; to raise money in such manner as the company may see fit, and to do all such other things as are incidental or conducive to the attainment of any or all of the above objects. SEC. 7. The stockholders of this company shall not be individually liable for any of its obligations. SEC. 8. That this act shall be in force from and after its ratification. CHAPTER 155. An act to amend the charter of the Eastern Carolina Piscatorial Association. The General Assembly of North Carolina do enact: SECTION 1. That chapter one hundred and ninety (190) of the private laws of eighteen hundred and ninety-one be amended by adding thereto an additional section as follows, to wit: "That the said company or association is hereby empowered to build, construct and operate a railroad for the purposes of the company for the transportation of freight and passengers from the grounds and property on New river, in the county of Onslow to some convenient point on the line of road of the Wilmington, Onslow and East Carolina Railroad Company, and shall have all the rights of condemnation for rightsof-way and all other rights conferred by The Code of North Carolina and the amendments thereto concerning railroad companies, known as chapter forty-nine of The Code." SEC. 2. That this act shall be in force from and after its ratification. CHAPTER 156. An act to amend the charter of the town of Waynesville. The General Assembly of North Carolina do enact : amended. SECTION 1. That chapter one hundred and twenty-seven, private Chapter 127, prilaws of eighteen hundred and eighty-five, be amended by striking out vate laws 1885, all of section two of said chapter after the word "follows" in lines two and three and inserting in lieu thereof the following: "Begin- Corporate limits. ning at a point in the center of Main street in front of the building known as the old court-house and extending therefrom three-fourths of one mile in every direction so as to make the limits of the said corporation a circle with the said point of beginning as the center." stables. SEC. 2. That section seven of said chapter be amended by inserting Tax on liveryafter the word "annum" in line two the following: "Upon liverystables with five head of horses and not exceeding ten, a tax not to exceed twenty dollars; with ten head and not exceeding twenty, a tax not to exceed forty dollars, and upon stables with a larger number of horses the same proportion shall be observed in fixing the tax." SEC. 3. That subsection twelve of section fourteen of said chapter License tax on be amended by adding after the word "dollars" in line twenty-one barbers. physicians and of said subsection the following: "Upon physicians, not exceeding .five dollars; upon barbers, not exceeding five dollars." SEC. 4. That this act shall be in force from and after its ratification. CHAPTER 157. An act to amend the charter of the Roaring Gap Summer Resort Company and to confirm and enlarge its powers. The General Assembly of North Carolina do enact : SECTION 1. That the charter of the Roaring Gap Summer Resort Charter ratified Company, a corporation created and organized under the laws of and amended. North Carolina by decree of the clerk of the superior court of Forsyth county, March eleventh, eighteen hundred and ninety-two, is hereby ratified and confirmed, except as hereinafter amended. The articles of agreement set forth before said clerk are as follows: (1). The corporate name of the company shall be "Roaring Gap Corporate name. Summer Resort Company." (2). Its business shall be that of buying and selling land, exchanging, Corporate purposes and powers. leasing, developing and improving lands at Roaring Gap, North Caro Principal office, &c. Branches. Corporate exist ence. Incorporators. Capital stock. Directors. Stock-vote. President and secretary. Powers of directors. Annual meetings. Proviso. Non-liability of stockholders. Amendments. lina, and vicinity, and to this end may erect hotels, boarding-houses, cottages, dwellings, stores, shops, places of pleasure and amusement, schools, churches and chapels; open roads, drives and streets; build bridges and waterways, and do any and all acts necessary to carry out the purposes of its organization, namely, the establishment and carrying on of a summer resort. It may borrow and pledge its credit by note, bond or otherwise. (3). The place of its principal office and meetings of stockholders shall be at Winston, North Carolina, but the said company shall have the power to establish a branch office and exercise any and all of its franchises, rights and privileges at Roaring Gap in the county of Alleghany, North Carolina. (4). The duration of the corporation shall be thirty years. (5). The names of the corporators are A. Chatham, A. H. Eller, H. R. Starbuck, J. L. Patterson, and such other persons as they may associate with them, and their successors. (6). The amount of the capital stock shall be seventy-five hundred dollars, divided into one hundred and fifty shares of the par value of fifty dollars each, which when paid up shall be non-assessable, with the privilege of increasing the same to an amount not exceeding twenty-five thousand dollars. (7). The corporation shall be governed and managed by a board of not less than three nor more than seven directors, to be elected annually by the stockholders, each stockholder casting one vote for every share of stock which he may represent in person or by written proxy. The president and secretary of the company shall be ex officio members of the board of directors, and shall be elected at the time and in manner and for the term above named for the directors, and subject to the by-laws which may be adopted by the company; said directors shall make contracts, appoint committees, receive reports, audit accounts, fix salaries of officers, agents and employees; appoint a treasurer, fix the amount of his bond and assume and control the general management and resources of the company; making full report of their transactions to the company at its annual meeting, which shall be held on the eleventh day of March of each and every year bereafter, inclusive of the year eighteen hundred and ninety-two: Provided, however, that the president shall call a meeting of the stockholders at such other times as may be designated, upon the written request of five stockholders. (8). The stockholders of this corporation shall not be individually liable for its debts. SEC. 2. The foregoing articles of incorporation are hereby amended as follows: ers. SEC. 3. The corporation is hereby authorized to acquire by purchase Corporate powor otherwise and to hold lands, either in fee-simple or by less terms, not exceeding five thousand acres at any one time, and whether or not such lands be deemed necessary for the establishment or carrying on a summer resort; and may sell, improve and otherwise deal in real estate. ence. SEC. 4. The duration of the corporation shall be one hundred years. Corporate existSEC. 5. It may exercise all such rights and franchises as are con- Corporate powferred upon and pertain to other corporations; and may acquire, hold ers. and dispose of without restriction as to quantity or time, except as aforesaid, all kinds of property, real, personal or mixed. gage bonds. SEC. 6. Said company shall have the power for the purpose of carry- May issue morting on its business to issue bonds and stocks and to secure the same by mortgage on its property, or by preferring, guaranteeing any part or all of its stock in such manner as the stockholders or directors may determine. SEC. 7. The names of the incorporators are R. A. Doughton, W. C. Incorporators. Fields, A. Chatham, J. L. Patterson, A. H. Eller, D. P. Mast, T. J. Brown, D. J. Reid, W. T. Carter, C. A. Hall, C. J. Watkins, Joe Jacobs, J. W. Shepley, H. R. Starbuck, I. J. Montague, E. A. Ebert, N. G. Williams, V. O. Thompson, Cicero Tise, C. A. Rominger, J. S. Kilby, R. J. Renolds, C. H. Addison, Miller Brothers, R. R. Gwyn, W. L. Hill, A. C. Vogler, R. A. Womack, F. M. Simmons, R. R. Crawford, T. B. Crawford, W. T. Vogler, J. M. Rogers, T. L. Gwyn, T. I. Lillard, and such other persons as they may associate with them. SEC. S. This act shall in no way interfere with or impair the incor- Construction of poration as set forth in section one, nor render illegal or void any act or contract done or made thereunder, and the powers and privileges conferred in said articles of incorporation not inconsistent with the amendatory provisions of this act are in all respects ratified and confirmed. SEC. 9. That this act shall be in force from and after its ratification. this act. CHAPTER 158. An act to incorporate the Durham and Charlotte Railroad Company. Incorporators. SECTION 1. That J. S. Carr, W. M. Morgan, Thomas L. Peay and W. A. Guthrie, and their associates, successors and assigns, be and they are hereby made and declared to be a body politic and corporate, by the name and style of the "Durham and Charlotte Railroad Com- Corporate name. |