SEC. 4. That the members and officers, under such rules and regula- Authorized to dissect human tions as may be established by the by-laws of said Charlotte Medical bodies, &c. College, may dissect unclaimed human bodies, and human bodies brought into Mecklenburg county for the purpose of being dissected, and human bodies where consent is given, and shall also have the right to dissect any animal or bird. vivisect animals. SEC. 5. That the members and officers aforesaid may vivisect the Authorized to lower order of animals for the purpose of teaching physiology and anatomy and experimenting in the science of medicine and surgery, due regard being always had to avoid making the operation uselessly cruel. SEC. 6. That said college may give certificates of proficiency for May give certifione and two years study in the science of medicine and surgery. SEC. 7. That this act shall be in force from and after its ratification. cates, &c. CHAPTER 306. An act to locate a public street in the town of Wilkesboro. The General Assembly of North Carolina do enact : SECTION 1. That the board of town commissioners of the town of Commissioners authorized to Wilkesboro are hereby authorized to lay off, locate and establish a establish street. public street in the town of Wilkesboro, not less than sixteen feet wide, commencing at the southeast approach of the iron bridge across Location. the Yadkin river between Wilkesboro and North Wilkesboro; thence down the bank of said river the most practicable way to Garrett Vine's saw and lumber-mills. located. SEC. 2. That said street shall be located under the law providing Street, how for the location of streets and rights-of-way as provided in the charter of said town. SEC. 3. All laws and clauses of laws in conflict with this act are Conflicting laws repealed. hereby repealed. SEC. 4. That this act shall be in force from and after its ratification. Incorporators. Corporate name. ers. Corporate pow ers. Corporate seal. Corporate pow ers. Corporate pow ers. CHAPTER 307. An act to incorporate "The Catawba Electric Power Company" of Gaston county, North Carolina. The General Assembly of North Carolina do enact: SECTION 1. That C. A. Coffin, J. H. Cutler, D. W. Butler, of Boston, Massachusetts, and J. H. McAden, of Charlotte, North Carolina, together with all other persons and corporations who shall be associated with them and become stockholders in the corporation hereby incorporated, their successors and assigns, be and they are hereby created and constituted a body politic and corporate by and under the name and title of "The Catawba Electric Power Company," by which name the said corporation may sue and be sued, plead and be impleaded, appear, prosecute and defend in any court whatsoever all suits and actions; may contract and be contracted with, and shall have all the privileges hereby specially granted, and such others as may be necessary to the full exercise and enjoyment of the same. SEC. 2. That the said corporation shall enjoy all the rights, privileges, liberties, immunities, franchises and powers conferred upon and pertaining to other corporate, bodies and not forbidden by the laws of the United States and of North Carolina. SEC. 3. That the said corporation shall have the right to and may make and use a common seal and alter the same at pleasure. SEC. 4. That said corporation is hereby authorized and empowered to conduct, transact and carry on in all its branches the manufacture and sale of cotton goods and woollen goods, either or both, of all descriptions whatsoever; also any kind and all goods, wares and merchandise of any and every kind made out of and from cotton, wool, jute, hemp, flax, leather, iron, wood or other material. And said corporation may buy and sell and deal in all goods, wares and merchandise at its will and pleasure; and may erect, maintain, own, lease and operate and cause to be operated flouring-mills, grist-mills, saw-mills, and all other kind of mill buildings, machine and workshops, stores, dwellings and other business premises, and may maintain them as may be necessary to carry on its business. SEC. 5. The said corporation, its successors and assigns, is hereby authorized and empowered to buy, own, lease, deal in or otherwise acquire lands, tenements and hereditaments, and all manner of real and personal property, including cotton-mills, factories, houses, waterpowers, minerals, rights, roads, bridges, tramways, and any other kinds of property whatsoever, to such an extent as it may seem proper, and as fully as citizens of the state may do, and may sell and convey or lease the same to other persons or corporations; and said corporation is authorized to pay for such real estate and personal ers. property as it may purchase or otherwise acquire with and by its Corporate powcapital stock; and may issue bonds and execute mortgages to secure the payment thereof. It may also subscribe to the capital stock of any other corporation. land. SEC. 6. That said corporation shall have the right, power and authority to build, erect and maintain any dam or dams across the channel of the Catawba river in the counties of Gaston and Mecklenburg in the state of North Carolina for the purpose of utilizing waterpower, and may also build, construct, maintain and operate canals, bridges, aqueducts, conduits, water-ways, waste-ways, wells and reservoirs as shall be needful for its mills, factories, water systems, power-plants or other works, and for any purpose found necessary or expedient; and to construct and maintain and operate, either above or under ground, suitable wires, conductors or rods for the purpose of conducting or transmitting electricity to any city or town in the state for the purpose of lighting such city or town, or for other purposes for which electricity is used; also pipes, canals, roads, bridges or electrical conductors and necessary stations; the said corporation, when unable to purchase at an agreed price, may enter upon and condemn private property for right-of-way and for necessary plants Condemnation of and stations by paying a reasonable price therefor, and in case such price cannot be agreed upon the said corporation or the owner of the property used or occupied may file a petition before the clerk of the superior court of the county where the land is situated, praying for the appointment of a jury to determine whether or not such land is necessary to carry out the purpose of the company and assess the damages accruing to such landowner and upon ten days notice to the opposite party the said clerk shall appoint a jury, consisting of three discreet persons, to assess such damages. The jury shall, within thirty days, make such assessment and report the same to the clerk; said report shall remain open for exception for ten days after the expiration of the thirty days, and if no exceptions thereto be filed the same shall be confirmed and judgment rendered in accordance therewith, and in all cases such judgment or confirmation shall vest in said corporation a title in fee to the property condemned. In case exceptions are filed to any report the clerk shall pass upon the same with right of appeal by either party to the superior court, to be heard Right of appeal. by the court in term-time: Provided, that all proceedings for dama- Proviso. ges shall be commenced by the landowner within two years after occupancy by the corporation and not afterward: And further pro- Proviso. vided, that the privileges of this section shall be applicable to the territory adjacent to the Catawba rivers and their territories. SEC. 7. That said corporation shall likewise have the right, power Corporate powand authority to lay out, build, construct, maintain and equip with ers. suitable rolling or other stock and operate such roads, whether rail, tram, plank or turnpike, and to erect, establish, maintain and operate Capital stock, Organization. such telegraph and telephone line and apparatus as may be necessary; and shall likewise have the right, power and franchise to charge such tolls, fares, fees and compensation as is reasonable for the use, service or travel over such roads, turnpikes, bridges, canals, telegraph or telephone lines as it may erect, construct and operate. SEC. 8. That the capital stock of said corporation shall not be less than five hundred thousand dollars, but the said corporation shall have authority to organize and transact business whenever twentyfive thousand dollars of its capital stock shall have been subscribed and five per centum thereof paid, either in money or in property, which said corporation is authorized to hold. That said corIssuance of stock. poration may issue stock, both common and preferred, with such regulation as to the issue thereof as may be prescribed by a majority of the stockholders. The certificates for shares of stock shall be issued only when the same are paid for, and shall not thereafter be liable Transfer of stock. to assessment for any purpose whatsoever. The shares of stock shall be deemed personal property, and be transferable upon the books of the said company in the method provided by the by-laws made in their behalf, but no share shall be transferable until all previous calls thereon shall have been fully paid in, or until declared forfeited for nonpayment of calls thereon, and the directors may refuse the entries of transfers of any share into the books wherein any call has been made which has not been paid in. Shares of stock may be issued and granted for money or in payment for lands, minerals, materials, services, labor, work, building, easements, machinery, ways, rights or other real and personal property, and upon such rates and terms as the said corporation by its board of directors may deem proper. The Increase of capi- capital stock of the corporation may be increased from time to time to an amount not exceeding one million of dollars by the consent of a majority of the stockholders. Subscriptions, how made. tal stock. Non-liability of stockholders for &c. SEC. 9. That the directors, corporators and stockholders of said corcorporate debts, poration, their successors and assigns, shall not be individually or personally liable or responsible for the acts, debts, liabilities, contracts, engagements, defaults, commissions or torts of the corporation, or for any claim, payment, loss, injury, transaction, matter or thing whatsoever related to or connected with the company, and no stockholder shall be liable to pay for more stock than he subscribed for. Place of business. Taxation. SEC. 10. That the principal place of business of said corporation shall be in Gaston county, North Carolina, but said corporation may hold its annual or other meeting at such other place as the board of directors may designate. SEC. 11. That all the property of the corporation shall be liable to an ad valorem tax, including shares of stock belonging to its stockholder, and said property, including such shares of stock, shall be listed and given in by the proper officers of the corporation and assessed for taxation in the county where the real estate or plant may be situated and shall not be liable for taxation elsewhere, and in case said corporation establishes manufacturing plants in more than one county, the amount of stock shall be listed by the proper officers of the corporation pro rata, estimated according to the value of such plant or plants in the respective counties. directors. SEC. 12. The affairs of said corporation shall be managed by a President and president or vice-president and a board of directors, and the persons named in the first section of this act are hereby constituted provisional directors of the corporation, of whom a majority shall constitute a quorum; and they shall hold office as such directors under the provisions of this act, and shall have the power forthwith to open stockbooks and procure subscriptions of stock in said corporation; and as soon as shares to the amount of twenty-five thousand dollars of the Organization. capital stock of the corporation shall have been subscribed, any one or more of the provisional directors may call a meeting of the subscribers at Charlotte, North Carolina, for the purpose of organizing the corporation, electing directors, etc., giving at least five days notice in writing to the subscribers of the time and place and purpose of the meeting. At such meeting the shareholders may choose not Directors. more than seven nor less than three persons from among the shareholders as directors of the corporation, three of whom shall always constitute a quorum. The directors shall annually be elected by ballot at a regular meeting of the stockholders, and shall act under such by-laws and regulations as the corporation may from time to time adopt, and shall hold their office until their successors are elected; thereafter the regular meeting of the stockholders for the election of directors and other general purposes shall be held once in each and every year at such place and on such day and upon such notice as the by-laws may direct. All vacancies in the board of direc- Vacancies. tors or in any office of the company shall be filled by the directors of the company. The capital stock of said corporation shall be divided Shares of stock. into shares of one hundred dollars each; and at all meetings of the stockholders every stockholder shall be entitled to as many votes as Stock-vote. he owns shares in the corporation, to be cast in person or by proxy; and at all meetings a majority of the stock subscribed represented in Quorum. the corporation shall have full power to make all necessary by-laws, By-laws. SEC. 13. That the board of directors at their first meeting, and annu- Officers. |