that may be organized under the laws of this state or of any adjoin- SEC. 2. This act shall be in force from and after its ratification. state courts not ousted. CHAPTER 285. An act to incorporate Peterson Academy. The General Assembly of North Carolina do enact: SECTION 1. That James J. Britt, A. Z. McCurry, D. M. Horton, Incorporators. D. F. Young, J. W. Bryant, R. W. Peterson, J. W. Benton and M. P. McCurry, their successors, associates and assigns, are hereby declared ers. to be a body corporate and politic under the name and style of "The Corporate name. Peterson Academy," and as such may sue and be sued, plead and be Corporate powimpleaded, and generally to have all the powers and privileges of corporations of similar character. In such capacity they may establish and maintain in Yancey county an institution of learning in which shall be taught such studies of an advanced character as are usually taught in high schools and academies, and such pupils as have been found proficient in their studies may, upon completing the course of study prescribed, have conferred upon them by the Peterson By-laws. Proviso. Academy certificates of proficiency in the various studies or courses of study taught in such academy. SEC. 2. That the trustees of Peterson Academy may make such by-laws for the conduct and better government of the institution as they may deem best: Provided, that the same be not inconsistent with the laws of the land. SEC. 3. That this act shall be in force from and after its ratification. CHAPTER 286. An act to amend chapter twenty-one of the private laws of eighteen hundred and eighty-seven, and chapter three hundred and twentynine of the private laws of eighteen hundred and ninety-one. The General Assembly of North Carolina do enact : SECTION 1. That in addition to the right given to the Wilmington Street Railway Company to use electricity as a motive power and to sell electric current for the production of arc and incandescent lights conferred by chapter twenty-one of the private laws of eighteen hundred and eighty-seven and chapter three hundred and twentynine of the private laws of eighteen hundred and ninety-one, the said the Wilmington Street Railway Company is hereby empowered to produce and sell gas for lighting purposes and also as a motive power, and such other purposes as may be found profitable or desirable, and for such sale and distribution the said company is permitted to erect mains, pipes and underground conduits and conductors through and under the streets of Wilmington and vicinity, under such rules and regulations as the board of aldermen of said city may prescribe. SEC. 2. That the said the Wilmington Street Railway Company shall have power in its discretion to increase its capital stock to a sum not exceeding one million dollars, and shall have authority to purchase and consolidate with any existing gas or electric light company upon such terms as may be mutually agreed upon, and in its corporate name to hold the same; and shall have power to borrow money and issue bonds or other securities, and secure the same by mortgage or deed of trust upon the combined railway, electric lighting and power, and gas property and franchises, or upon any or all of said interests, as said company may deem best. SEC. 3. That this act shall be in force from and after its ratification. CHAPTER 287. An act to incorporate the "Woccoon Game Preserve Company." The General Assembly of North Carolina do enact : SECTION 1. That Iredell Means, Wm. H. Green, Thos. W. Strange, Incorporators. William A. Williams, Walker W. Vick, E. S. Tennent and F. W. Coolbaugh be and they are constituted a body politic and corporate ers. under the name of the "Woccoon Game Preserve Company," and by Corporate name. that name may sue and be sued, plead and be impleaded, contract Corporate powand be contracted with, create by-laws and regulations for its own management, adopt a common seal, which it may alter or break at any time, and enjoy all the franchises and privileges incident to business corporations in the State. SEC. 2. That the corporate stock of said company shall be fifty Capital stock. thousand dollars ($50,000), to be divided into shares of one hundred dollars each ($100), with power to increase the same to a sum not exceeding three hundred thousand dollars ($300,000), by consent of the stockholders owning two-thirds of the stock issued at the time of the increase. SEC. 3. That whenever five thousand dollars ($5,000) shall have been Organization. subscribed to the capital stock it shall be the duty of the incorporators, or any three of them, to call a general meeting of the stockholders, and at such meeting the stockholders present, if representing a majority of the stock subscribed, may proceed to organize said company and adopt such by-laws, rules and regulations as they may By-laws. determine upon, and elect such officers as may be provided for in the Officers. by-laws then adopted. ers. SEC. 4. The said corporation shall have full power to buy, lease, Corporate powexchange, hold, own, sell and convey real and personal property with all rights and privileges therewith; that section .., volume .. of The Code is hereby repealed in so far as it conflicts with this act, and that said corporation may own, hold and enjoy any quantity of public lands which it may purchase from the State or its agents, and such quantity or quantities of land which it may purchase, lease or acquire otherwise than from the State to any amount not exceeding ten thousand acres; to improve and turn to account any land or other property acquired by or in which the company is interested; to sell, mortgage, lease or otherwise dispose of the property of the company upon such terms as it may elect, and to issue bonds or sell its stock for the purpose of promoting its business: Provided, that no bonds Proviso. shall be issued except upon the affirmative vote of two-thirds of the stock in force; and to take subscriptions for shares of the capital stock either in money, personal services actually rendered to said corporation, real estate or personal property; and shall have full power to utilize any of its land in the cultivation of all farm products, the PRIV-28 Corporate pow ers. Proviso. Corporate pow ers. Place of business. Liability of stockholders. preservation of all kinds of game, the raising of all kinds of stock, either for the purpose of marketing or selling the same, or for the pleasure and enjoyment in hunting or otherwise of the members of the corporation. SEC. 5. The said corporation shall have the right to engage in the `business of planting, cultivating, buying and selling vegetables and fruit products, oysters, clams and all kinds of shell and migratory fish, and to carry on in all its branches the business of packing, pickling, preserving, marketing and canning the same, and to catch and fish for any or all kinds of shell and migratory fish in any of the waters of the state for any or all objects and purposes of its incorporation; and may hold and enjoy, either by lease, purchase or gift, and utilize in the planting, cultivation and sale of oysters and other shell-fish, all such oyster area or private garden as it may acquire by purchase or otherwise according to the laws regulating the acquisition of oyster bottom or oyster ground; and may transplant to its private oyster gardens or area from the natural oyster and shell-fish beds of the state oysters and other shell-fish for cultivation: Provided, such cultivation and removal shall be done in accordance with the general and special laws of the state regulating the transplanting and cultivation of shell-fish. SEC. 6. Said corporation may construct, build and maintain in promotion of its interest factories, machinery, buildings, railways and tramways upon its own property or upon any property it may acquire the right so to do, and purchase or lease boats or vessels of any kind for freighting or transportation upon water. SEC. 7. That the principal place of business of said corporation shall be in New Hanover county, but the same may be changed at the pleasure of the corporation, and until finally located the meetings and business of said corporation may be held in the city of Wilmington, North Carolina. SEC. 8. That the stockholders of said corporation shall not be individually liable for the debts, contracts and obligation of said com. pany in excess of the amount of stock owned and paid for by them SEC. 9. That this act shall be in force from and after its ratification. Ratified the 6th day of March, A. D. 1893. Incorporators. CHAPTER 288. An act to incorporate the Board of Education of the Buncombe County The General Assembly of North Carolina do enact: SECTION 1. That Jason Asheworth, J. A. Brookshire, T. C. Morgan, T. J. Reed, F. P. Ingle, G. W. Purefoy, J. H. Tucker, A. J. Justice, J. R. Starns, A. E. Brown, Judson Morgan, J. L. White, J. Q. Adams, D. B. Nelson and J. H. Sams, trustees, and their successors, be and they are hereby declared to be a body politic and corporate for the purpose of establishing schools and furthering education within the bounds of the Buncombe County Missionary Baptist Association under the name and style of "The Board of Education of the Bun- Corporate name. combe County Missionary Baptist Association," and by that name and style they shall exist for a period of sixty years; and shall be Corporate existence and powers. capable in law to take, receive, hold and purchase all manner of lands, tenements, rents and annuities and other hereditaments, and all moneys, goods and chattels, and solvent credits, stocks, bonds, and other things of value which at any time may be donated, devised, bequeathed, granted, sold, or otherwise conveyed to the said corporation. ers. SEC. 2. That the said corporation shall be capable in their corporate Corporate powname to sue and be sued, appear, prosecute and defend to final judgment and execution in any court or elsewhere; to have a common seal, if they so choose, which they may alter at pleasure; to elect in such manner as they shall determine to be proper all necessary officers and fix their compensation and define their duties and obligations; to make by-laws and regulations consistent with the laws of the state for their own government and for the due and orderly conducting of their affairs and the management of their property. Term of office of trustees. SEC. 3. That of the trustees named in section one of this act the first five named shall hold their office for the term of one year, the second five for two years, and the third five for three years, but their successors shall hold their office for three years, subject, however, to removal by a majority of the board for inefficiency or neglect of duty. Any trustee who refuses to act or shall fail to attend the meetings of the board continuously for the space of two years, the membership of said trustee shall be considered vacant. All vacancies occurring in Vacancies. the board by death, removal, removal from the association, resignation, expiration of term, or otherwise, shall be filled by election at the next annual session of the association upon recommendation of the board of trustees and approval of the committee to nominate board of the said association. trustees. SEC. 4. That the said board shall have power to remove any one of Removal of their number for improper conduct, of which they shall be the sole judges: Provided, the accused shall have ten days notice of the Proviso. charges preferred against him: Provided further, that a majority of Proviso. two-thirds of the number present shall be necessary to effect such removal, and at such trial a majority of the whole board shall be present. SEC. 5. That such members of the Missionary Baptist Church as Who eligible as may be chosen shall have right to serve on said board. trustees. SEC.. That the officers of said board shall consist of a president, Officers. vice-president, secretary and treasurer, and such other officers as may |