Proviso. Brokers, &c. Hucksters, &c. Itinerant dentists, &c. Itinerant lightning-rod peddler, &c. Bill-poster. Penalties for failure to pay taxes. Chapter 119, private laws 1891, amended. Presumption of grant from use of streets, &c., not to affect femes covert or infants until two years after disability removed. or crier of goods at public auction allowed to be taxed by this charter SEC. 3. That there be inserted after section forty-seven the follow- SEC. 4. That section six of chapter one hundred and nineteen of SEC. 5. That this act shall be in force from and after its ratification. Incorporators. CHAPTER 62. An act to incorporate Wadeville Academy. The General Assembly of North Carolina do enact : SECTION 1. That E. J. Bruton, J. W. Harris, T. B. Hurley, D. F. Robinson, A. J. Bruton, J. M. Robinson and J. B. Hurley, of the county of Montgomery, and state of North Carolina, and those who hereafter may be associated with them, and their successors, are hereby created a body politic and corporate and have perpetual suc ers. cession by the name and style of "Wadeville Academy,” located in the Corporate name. village of Wadeville, and by such name may contract and be contract- Corporate powed with, sue and be sued, make and use a common seal and alter the same at pleasure, and make and maintain such by-laws, rules and regulations for the government of the same and the orderly conduct of its affairs as may be deemed necessary, and shall be capable in law to take, receive and hold all manner of lands, tenements, rents, annuities and hereditaments which may at any time be granted, bargained, released, demised or otherwise granted, and that said academy and all real and personal property so granted, received or accepted and appertaining thereto shall be set apart forever for the exclusive purpose of educating the children of the white race and of assisting young men and young ladies in the education of themselves, and when in the judgment of a majority of the board of trustees a sale of any property acquired as aforesaid is necessary for the interests thereof such sale and transfer is hereby authorized, and the proceeds thereof directed to be used as a general fund for improvements. SEC. 2. That the capital stock of said corporation shall be five hun- Capital stock. dred dollars, to be divided into shares of five dollars each, and the capital stock may from time to time be increased by additional subscription or the issue and sale of shares not exceeding five thousand dollars, as the stockholders may at any general or special meeting authorize and prescribe. The corporators may receive subscriptions Subscriptions, to the capital stock or in payment for its shares so issued money, lands, labor in building its academy, material for building or furni ture, but in no event shall the corporators, stockholders, trustees, their successors nor assigns, be liable individually or personally for the contracts, debts or liabilities of the corporation. how made. Non-liability of stockholders, &c., for corporate debts. SEC. 3. The corporators above named are severally authorized to Organization. receive subscriptions to the capital stock of said academy and when the minimum capital stock of five hundred dollars shall have been subscribed the said subscribers may organize by the election of not less than three nor more than seven trustees, stockholders therein, of Trustees. whom they shall elect one as president and such subordinate officers Officers. as may be deemed necessary, to remain in office one year from date of election or appointment and until their successors shall have been elected and qualified, unless sooner removed by the stockholders in general meeting. SEC. 4. That each stockholder shall be entitled to one vote for each Stock-vote. share held by him and without limit as to number of shares to be held by any one person, and the shares shall be deemed personal estate, and the school or schools conducted under the provisions of Conduct of this charter shall be conducted as near as may be without sectarian bias in its management. SEC. 5. That the board of trustees of said corporation after organization as herein before provided be and they are hereby authorized to school. Authorized to issue bonds for improvement of grounds, &c. Unlawful to conduct gaming table or sell liquor within two miles. Misdemeanor. issue bonds of ten dollars each, not exceeding two hundred, each SEC. 6. That it shall not be lawful for any person or persons to set SEC. 7. That this act shall be in force from and after its ratification. Preamble. Charter obtained from clerk confirmed. Authorized to increase capital stock. CHAPTER 63. An act to confirm and enlarge the powers of the Wilmington Homestead WHEREAS, The Wilmington Homestead and Loan Association was duly chartered according to the laws of this state before the clerk of the superior court of New Hanover county on the eleventh day of May, one thousand eight hundred and eighty-six; and whereas, under its charter the amount of capital stock is limited to four thousand shares of the par value of one hundred dollars each; and whereas, all of said stock has been issued and divided into five series, and there is now demand for an additional series which cannot be issued on account of the limit in the said charter; now, The General Assembly of North Carolina do enact: SECTION 1. That the said charter or plan of association be and is hereby confirmed except as hereinafter amended. SEC. 2. That the said The Wilmington Homestead and Loan Association be and is hereby empowered to increase its capital stock from time to time as in the opinion of its board of directors may be deemed necessary to any number of shares not exceeding in the aggregate one million shares, which the said board of directors may divide into series or classes as is now prescribed and provided for under its present articles of association. convert itself ers. SEC. 3. That if at any time the said The Wilmington Homestead Authorized to and Loan Association may desire to convert itself into a bank or into bank, &c. banking association, the said association at any called or general meeting of its stockholders shall have such power and privilege, all the stockholders first giving their assent thereto; and from that time Corporate powthe said The Wilmington Homestead and Loan Association shall have all the rights, privileges and powers of a bank, with the right to lend money, to take personal property or real estate as security; to take, discount, negotiate bills of exchange and promissory notes; to buy and sell exchange on any point or place in the world, and to exercise any and all other powers usually appertaining to a bank, and which may be given and conferred by any law of the state of North Carolina, and subject to all laws which may from time to time be passed regulating banks in this state. SEC. 4. At any and all meetings of the stockholders of the company Stock-vote. no stockholder shall be allowed to vote more than one hundred shares, including his own and that held by him as proxy.. SEC. 5. Any stockholder wishing to withdraw from the association Rights of stockholders desiring shall be entitled to receive from the treasurer the amount of dues to withdraw. actually paid in, and in addition thereto, if such application be made after two years payment of dues, he shall receive seventy-five per centum of all profits which may have accrued to the credit of said shares; after three years, eighty per centum; after four years, eightyfive per centum; after five years, ninety per centum of all said profits accrued as aforesaid, as shown by the last quarterly statement made before such application is filed; but such withdrawal to be under such rules, restrictions and regulations as are now provided for by said association. SEC. 6. That it shall be unlawful for said association to compel any stockholder to borrow the funds of the association without the consent of such stockholder. SEC. 7. That within ninety days after the ratification of this act the president of said association shall call a special meeting of all the stockholders of said association, giving each stockholder ten days written or printed notice of the said meeting for the acceptance or rejection of the powers and amendments herein conferred; and if at said meeting a majority of all the stockholders shall consent, this act shall be accepted as amendments and additions to said charter. SEC. 8. That this act shall be in force from and after its ratification. Unlawful to holders to borrow compel stock funds. Special meeting to consider question of accepting this act. Chapter 193, pri- the Parrish Ware- CHAPTER 64. An act to renew chapter one hundred and ninety-three of the private laws of one thousand eight hundred and ninety-one. The General Assembly of North Carolina do enact : SECTION 1. That chapter one hundred and ninety-three (193) of the private laws of one thousand eight hundred and ninety-one be and the same is re-enacted and renewed as if passed at this session of the general assembly. SEC. 2. That this act shall be in force from and after its ratification. Incorporators. CHAPTER 65. An act to incorporate The Watson-Daniels Land Company. The General Assembly of North Carolina do enact : SECTION 1. That C. T. Watson, Thomas Daniels, J. J. Wolfenden and W. W. Clark, and their associates, successors or assigns, or any three of them, are hereby created a corporation and body politic for Corporate name. the period of thirty years, under the name and style of "The WatsonDaniels Land Company," and under such name shall be empowered to sue and be sued, plead and be impleaded, may adopt and use a common seal and alter the same at pleasure, and shall have all the privileges, powers and immunities granted under the general laws of the state as now existing or as may hereafter be enacted in addition to such powers as are granted herein. Corporate pow ers. Corporate pow ers. SEC. 2. That it shall have power to receive, acquire and hold real estate and personal property in fee-simple by purchase, gift, devise or otherwise (and to hold in like manner such as may have been heretofore acquired under the general laws of this state). It shall have power to transfer and convey the same by deed, mortgage, lease or other conveyance, and to deal with and in other respects to make contracts for the purchase and sale of the same in like manner as may individuals under the laws of North Carolina; to issue certificates of stock for such sales or purchases, and to improve, sell and dispose of such property in such parts, parcels, way and manner as it may deem best, and to this end may enter into agreements, contracts and conveyances, or otherwise purchase and dispose of the same, and may give and receive for such purchase and sales, such moneys, securities |