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agree upon, or after said stock has been subscribed as above, then a
majority of said corporators and subscribers may give notice in some
newspaper published in the town of High Point, North Carolina, for
the space of ten days that, there will be a meeting of the said cor-
porators and subscribers for the purpose of organization at a time and
place therein named in the said town of High Point, and if at a meet-
ing called as herein provided for there shall be present such persons
as have subscribed for a majority of said stock (if not then another
meeting shall be called in one of the foregoing ways) they, the said
corporators and subscribers, may proceed to an exercise of all the
powers and privileges, etc., herein granted.

SEC. 19. That this act shall be in force from and after its ratification.
Ratified the 3d day of March, A. D. 1893.

CHAPTER 173.

An act to incorporate The Bank of Louisburg.

The General Assembly of North Carolina do enact:

SECTION 1. That William P. Webb, George W. Ford, Frank N. Incorporators. Egerton, E. T. Greer, William P. Neal, W. H. Pleasants and Henry A. Crenshaw, their present and future associates and successors, are hereby constituted and declared to be a body politic and corporate,

by the name and style of "The Bank of Louisburg," and as such shall Corporate name. have succession for the term of fifty years, and by that name may Corporate existence and powers. sue and be sued, appear, prosecute and defend in any court or place whatsoever, and may have and use a common seal, and may break and renew the same at will, and may make, establish and put in execution such by-laws, not being contrary to the laws of this state or of the United States, as may be necessary for the regulation and management of its affairs, and do all such acts and things as may be necessary to carry into effect the provisions of this act, and shall have all the powers, rights and privileges granted to any bank or banking institution under the general laws of this state.

SEC. 2. The affairs of this corporation shall be governed and managed by a president and board of five directors, to be elected by the stockholders annually, who shall hold their offices for one year and until their successors have been appointed.

President and directors.

SEC. 3. The capital stock of said corporation shall not be less than Capital stock. ten thousand dollars, divided into one hundred shares of one hundred dollars each, and such capital stock may be increased from time to time as said stockholders may elect to a sum not exceeding one hundred thousand dollars.

Organization.

Stock-vote.

Corporate pow

ers.

Corporate pow

ers.

Lien on stock.

Examination by president and directors.

Savings bank department.

Investment of deposits.

SEC. 4. Whenever ten thousand dollars shall be subscribed and paid, the before-mentioned corporators or a majority of them shall call a meeting of the subscribers to said stock at such time and place and on such notice as they may deem sufficient, and such stockholders shall elect a president and five directors, who shall hold office for one year and until their successors shall be appointed, and at all meetings of said stockholders and board of directors each share represented in person or by proxy shall be entitled to one vote.

SEC. 5. The Bank of Louisburg shall have authority to conduct a general banking business in the town of Louisburg, Franklin county, to receive money on deposit, to discount bonds, notes and bills of exchange, receiving the interest and discount in advance; to lend money on real and personal property; to make advances on warehouse receipts, bills of lading, certificates of stock, certificates of deposit and other negotiable instruments, and to use its funds and property in any manner incident to the business of banking and not contrary to the laws of this state and those of the United States.

SEC. 5. The Bank of Louisburg shall have authority to acquire and hold such real estate as its president and directors may decide to be necessary for the transaction and management of its business, and also such real estate as it may acquire or come into possession of as the result of its business of banking, and to convey the same by deed or mortgage as they may consider to the advantage of the corporation. SEC. 7. The said corporation shall have a lien on its stock for debts due it by its stockholders before and in preference to all other creditors. SEC. 8. The president and board of directors shall have authority to make such examinations of its affairs from time to time as they may consider necessary and proper.

SEC. 9. The said Bank of Louisburg is authorized to organize in connection with its general banking business a department of savings and do a savings bank business, and said corporation shall be capable of receiving from any person or persons disposed to obtain and enjoy the advantages of said bank any deposit or deposits of money and to use and improve the same for the purposes and according to the directions herein provided.

SEC. 10. The deposits of money shall be used and improved to the best advantage by employing the same in making loans on good security in a manner not inconsistent with the laws of this state or of the United States, or in the public debt, stocks or bonds of any county, or city, or township in this state which shall have been authorized by the legislature of this state to issue such stocks or bonds, or in any other stocks or securities for the redemption or payment of which the faith of any state in the Union shall be pledged, or in the. stock of any national bank or state banks, or in the authorized bonds of any incorporated city in the United States whose bonds are equal to or above par, and all other loans shall be secured by mortgage of

unincumbered real estate in this state with double the amount secured thereon with power of sale inserted in default of payment; and said corporation shall have power to dispose of said public stocks and bonds held as investments as the interest of said corporation may require. The receiving of money on deposit, the investment of the same and the loaning thereof on personal or real estate securities shall be in the manner provided for in the by-laws.

ize.

SEC. 11. The said Bank of Louisburg is hereby granted three years When to organfrom the passage of this act within which to complete its organization.

SEC. 12. That this act shall be in force and effect from and after its ratification.

Ratified the 3d day of March, A. D. 1893.

CHAPTER 174.

An act to incorporate Andrews High School, in Cherokee county.

The General Assembly of North Carolina do enact:

SECTION 1. That Andrews High School, in the county of Cherokee, Incorporated be and the same is hereby incorporated by the name and style of "Andrews High School."

SEC. 2. That the corporate limits of said school shall be two miles Corporate limits. in each direction from the place where the school-house now used for said school is situated, and it shall be unlawful for any person to manufacture or sell or otherwise dispose of any spirituous, vinous, or malt liquors within said distance of the said school, and any person violating the provisions of this act shall be guilty of a misde

meanor.

Unlawful to liquor within two manufacture, &c.,

miles.

SEC. 3. That D. W. C. Piercy, M. D. Callett, S. Porter, J. L. Welch Trustees.
and James Slagle be and they are hereby constituted a board of trus-
tees for said high school, and they and their successors shall have all
the powers and rights necessary for the proper carrying on of said Powers.
high school, and all powers conferred by law on like corporations not
inconsistent with the constitution of North Carolina and the United
States.

SEC. 4. That this act shall be in force from and after its ratification.
Ratified the 3d day of March, A. D. 1893.

Act to incorpo-
rate town of Hot

Springs, in chap-
ter 24, private
laws 1889.
Made a city.

Aldermen.

Temporary aldermen.

Ordinances.

Criminal jurisdiction of mayor.

Powers of constable.

Taxation.

License taxes.

Taxes, how applied.

CHAPTER 175.

An act to amend the charter of the town of Hot Springs, in Madison county.

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SECTION 1. That an act ratified February fifth, eighteen hundred and ninety-three, entitled "An act to incorporate the town of Hot Springs, in the county of Madison," be amended as follows: Strike out the word "town" whenever it occurs in said act and insert in lieu thereof the word "city."

SEC. 2. That section three of said act be amended as follows; Strike out the word "commissioners" in the second line of said section and insert "aldermen."

SEC. 3. That section four of said act be amended as follows: Strike out the word "commissioners" in line three of said section and insert" aldermen."

SEC. 4. That said mayor and board of aldermen shall have power and authority to make and publish such ordinances as they may from time to time deem best for the government of said city not repugnant to or inconsistent with the constitution and laws of this state.

SEC. 5. That the mayor of the city of Hot Springs shall have the same authority and jurisdiction as is conferred by law on mayors of incorporated towns.

SEC. 6. That the constable of the city of Hot Springs shall have the same power to arrest persons and execute civil process from the mayor or justices of the peace that is conferred by law on constables. SEC. 7. That said mayor and board of aldermen may at their first meeting in June of each year levy an ad valorem tax on the property within its corporate limits not to exceed fifty cents on the one hundred dollars, the same property to be subject to taxation under this section as may be the subject of taxation by the state,

SEC. 8. Said mayor and board of aldermen may in their discretion levy a license or privilege tax on the following trades, etc.: Dealers in spirituous liquors, livery-stables, butchers, physicians, lawyers, billiard tables, pool tables, bowling-alleys, sleight-of-hand performances, menageries, circuses, theatres, and on such other trades and professions as they may deem proper.

SEC. 9. That the taxes levied and collected as above stated shall be applied to defraying the expenses of the city government and the improvement of the streets of the same.

Ratified the 3d day of March, A. D. 1893.

CHAPTER 176.

An act to incorporate the Wilmington and West Indies Navigation

Company.

The General Assembly of North Carolina do enact:

SECTION 1. That John H. Bernard, W. W. Merrell, M. F. Heiskell, Incorporators. S. W. Merrell, Isaac Bates, John D. Bellamy, Jr., and J. H. McRae, all of the city of Wilmington and state of North Carolina, together with such persons as shall be associated with them, their successors and assigns, be and they are hereby created a body politic and corporate by the name and title of the "Wilmington and West Indies Corporate name. Navigation Company;" and under that title may sue and be sued, plead Corporate powand be impleaded in any courts of this state, and be contracted with; and adopt and use a common seal, which they may establish and alter at their pleasure; shall have succession for ninety years, and shall enjoy all the rights and privileges, powers, immunities, liberties and franchises pertaining to corporations under the general laws of the state.

ers.

SEC. 2. That the capital stock of said company shall be ten thou- Capital stock, sand dollars ($10,000), with the privilege of increasing it to an amount not exceeding two hundred and fifty thousand dollars ($250,000), to

be divided into shares of one hundred dollars ($100) per share par value.

SEC. 3. That as soon as five thousand dollars ($5,000) shall have been Organization. subscribed to the capital stock the said incorporators and subscribers

shall meet and perfect the organization by the election of not less than
five nor more than nine directors. The said board shall elect from Directors.
among their number a president and also a vice-president, the term Officers.
of office of said board and the said officers of president and vice-presi-
dent shall be for one year and until their successors are duly elected.
The said board shall elect such other officers as they may deem neces-
sary and shall prescribe their terms of office and compensation.

SEC. 4. That said stockholders, at their first or any subsequent Location of meeting, may fix and place the location of their general office any- eral office. where on the Cape Fear river.

SEC. 5. That said company shall have power:

(1). To make and pass all necessary by-laws for its government. (2). To do a general freight and passenger business between the port of Wilmington or any other ports on the Cape Fear river and any port or ports in the West Indies or other foreign countries; to enter into general traffic arrangements with any existing or future railroad companies and their connections, and with any other steamship companies at any port or ports on their route or routes. To issue

gen

Corporate pow

ers.

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