of tte

nibersiitp of JgortfjCarolina

Conectton of i^ortf) Caroliniana

Cnbotocb bp

of ttjeClastsof

1889

csssr.i

00032740605

This book must not

be taken from the

Library building
SEP 28

1948

CHARTER AND BY-LAWS

OF THE

NORTH CAROLINA RAIL ROAD COMPANY,

WITH THE

PROCEEDINGS
OF THE.

FIRST MEETING OF STOCKHOLDERS

SALISBURY,
JULY

N.

C.

11, 12, 1850.

'RINTED AT THE CAROLINA

SALISBURY,

1850.

WATCHMAN
N. C.

OFFICE,.

Lyibrary, Univ. Ol

North Carolina

CHARTER
OF THE

NORTH CAROLINA RAIL ROAD COMPANY,

INDEX TO SECTIONS.

Section
Incorporates

Company

2 Route of Road, from

with capital of $3,000,000.

Wilmin^on Road

to Charlotte.

3 Appoints Commissioners for creating Stock and opening Books

4 Books, when and how long

which

to be paid

down

to be kept

amount of

o''

Subscription.

shares, five dollars of

to be paid over to General Commissioners.

Duty of General Commissioners

open

in

keeping open Books, and when $1,000,000

shall be subscribed.

C 7 Corporate rights

8 Provision for
9 10, 11, 12, 13
sident,

first

and powers.

Notice of process.

and subsequent General Meetings, election of Directors,

Number

of,

and manner of voting

and quorum ai General Meetings: Votes and

14 Return to be

made by General Commissioners, and

15 Vacancies in Board, to be

filled

Pro.xiee.

penalty.

by Directors.

IG Authentication of Contracts.
17 Construction and use of Road

when any

section

is

completed.

18 Right and charges for transportation of goods or passengers.

19

Company may farm

20 Manner of Calling

out right, and

for

made common

carrier.

and enforcing payments of Stock.

21 Debt of deceased Stockholders, equal dignity with judgments.

22

Certificates of

23 Capital

may

24 Directors

to

Stock

shall

be issued, and

how

transferred.

be increased, and how.

make Annual

Report, and

may

call

&.c.

for Directors, election of Pre-

Meetings.

25

Company may

26

May

purchase and hold Land.

Roads and Streams.

cross

27 Proceedings

in

28 Number of

Proviso.

valuing Laud.

feet of

Land condemned.

29 Absence of contract

for lands, provision fur.

30 Land not heretofore granted, provision

.31

and 32 Penalties

for.

and malicious

for intrusion

injuries.

33 34 and 35 Of obstructions of Road, storage and carriage of goods, and dividends.

36 Provides for subscription on behalf of the State.

37 and 38 Provides

for

borrowing, and manner of borrowing money-

39 Duties of Comptroller and Treasurer relative

40 Treasurer

to advertise for Proposals,

41 and 42 Pledge faith of State, and

to registering Certificates.

&c.

make

certificates transferable.

43 and 44 Appointment of State Directors, and Officers exempt from mustering.

45 For putting Raleigh and Gaston Road

46 Conditions on which they

company

incorporated.

&c.

liabilities,

47 Mortgage

in repair,

have one half the Road, and be exempt from

shall

to purchas*? part of the Iron.

48 If terms not accepted, others incorporated.

49 Authorizes State subscription

for

connecting with other Road.

50 Reserved power of the General Assembly.

51 Appropriations for improving the Neuse and

Tar

Rivers.

52 Junction of Roads.
53 Limit

Sec.

for

commencement

1.

Be

Carolina,

and

it

of work, three years.

enacted by the General Assembly of the State of

it is

purpose of effecting a Rail Road communication between

fov tlie

Wilmington and
Neuse River,

Raleigii Rail Road, wliere the

in the

of Three Millions of Dollars,

Carolina Rail

same

pti6.sos

over

tlie
tiie

County of Wayne, and the Town of Charlotte,

this State, tlie formation of a corporate

.N^orth

North

hereby enacted hy the authority of the same, That

is

in

Compan-v, with a Capital Stock

hiireby authorised, to be called

Road Company," and when formed

**

lliG

in com})liancc

with the conditions hereinafter prescribeil. to ha^e a corporate existence

a.s

a body

Sec.
i.-sed

2.

politic, in }/ei-potuitv.

That

tiie

said

to construct a Rail

Company

Road from

be,

the

and the same

is

hereby autlior-

Wilmington and Raleigh

Road, where the same- passes over Neuse River,

in the

Rail

County of Wayne,

a Kaleigh,

and thence by

Countv of Rowan,

:,..;

most

tlie

Town

to the

practicable route, via Salisbury, in

of Charlotte, in the County of Meck-

lenburg.

Sec.

3.

That

for the

purpose of creating the Capital Stock of said

Company, the following persons

Commissioners, viz:

Means, of Concord
ton,

Waynesboro'

Raleigh

be,

II.

John B. Lord,

Elliott,

than A. Steadman, Pittsboro'

Newbern
That

G. Carter, Davie.

Richard Washing-

George

W.

Graliam, Hillsboro'

Edward B. Dudley, W^ilmington

Samuel P. Hargrave, Lexington

it

Mordecai,

James M. Leach, Lexington

Wilham A.

William C.

Charlotte;

of Salisbury

Randolph

John M. Morehead, Greensboro'

20 P. Jerkins,

and the same are hereby appointed

Wilson, of

John McLeod, of Smithfield

Henry B.

Joseph

Aloii-

Archibald

Town vi

be lawful to open Books in the

shall

Na-

Wilmington, under the direction of Wilham C. Bettencourt,

W.

A.

Wright, Daniel B. Baker, Henry T. Nutt, P. K. Dickinson, Gilbert Potter

and Wilham Peden, or any three of them

direction of

Da\id Parks, John A. Young,

Wilson, William Elms and

Wilham

William

W.

them

Holden, Thomas

Willis Sledge,
of

them

at Charlotte,

W.

Benjamin

W.

any three of them

L. Hlntou, or any

Lemay, and Charles

J.

Watson, Duncan K. McRae,

Gaston, under the direction of

at

under the

Osborne, Joseph K.

F. Davidson, or

at Raleigh, under the direction of Josiah 0.

three of

Jas.

Edmund

Wilkins,

Edwards, and James Gresham, or smy

tiiree

Warrenton, under the direction of William Eaton, Daniel

at

Turner, Peter R. Davis,

Wilham Plummer, and Thomas

any three of them

Ridgeway, imder the direction of George D.

BaskerviUe,

at

Weldon N. Edwards, Michael

Hawkins, or any three of them

John

T. Twitty, or

and Alexander B.

Collins,

at Henderson, under the direction ol

John D. Hawkins, Wilham Uandriers, Demetrius

S. Eaton,

Young, or any three of them

at Frankhnton,

Edward T. Fowl kes, William H. Simms,

or

under the direction

E.
ol'

any three cf them; at Hills-

borough, under the direction of D. F. Long, John Berry, Edward Strudwick,

and

Col.

CadwaUader Jones, or any three of them

under the direction of Ehsha

grave,

^litchell,

William H.

and P. H. McDade, or any three of them

the direction of

Henry B.

Elliott,

Chapel

Hill.

Jesse Har-

at Ashboro", undirr

Alexander Hogan, Jesse Harpei', Jon-

athan Worth, or any three of them

rection of

at Greensborough,

John M. Morehead, John A. Gilmer, Wilson

1^ Mebane, and

at

^lerritt,

Jesse Lindsay, or any three of

them

at

under the

S. Hill,

<)1-

John A.

Jamestown, und<'r

6
the direction of Richard Mendenhall, George C. Mendenhall, S. G. Coffin,
J.

W.

Field, or

any three of them

at

Haywood, under the

Robert Faucett, P. Evans, and John Wilhams

rection of J.

A. Stedman, Green Womack,

Ramsay, or any three of them

them

three of

McClennahan, and Joseph

at Carthage,

under the direction of A.

J.

D. McNeill, or any

at Lexington, under the direction of William R. Holt,

James M. Leach, Charles

luider the direction of

]3aldy Sanders,

di-

S.

John M. Morrison, Cornehus Dowd, and

C'Urrie,

direction of

under the

at Pittsboro',

L. Paine, or

any three of them;

John McLeod, B}i;han Bryan,

W.

Thaddeus

at SmithfieLl,

B. Sandei-s,

L.

Whitley, or any three of them

Salisbury,

under the direction of Archibald H. Caldwell, Charles F. Fisher, Horace

L.

Robards, Maxwell Chambers, and

them
F.

Thomas

L.

Cowan, or any three of

under the direction of Theophilus

Cowan, Thomas A,

(ler

R.

at Statesville,

Allison,

or any three of them

Concord, im-

at

William

Falls,

the direction of Rufus Barrlnger, Kiah P. Harris, Daniel Coleman,

W.

Foard, and Caleb Phifer, or any three of them

at Mocksville,

under the direction of John A. Lillington, Gustavus A. Miller, Arclubakl

(r.

Carter,

and Lemuel Bingham, or any three of them

under the direction of Francis

John J^lackbourn,

John

any three of them

opening of Books

rect the

A^ogler,

may deem

proper

for subscription of Stock, at

and

to sue for

and recover

all

sums

of

money

such times and

and

shall

all

have power

other Officers,

that ought, under this act,

be received by them.

Sec.

4.

That

all

persons

who may

pjooks for subscription of Stock

for that purpose, shall

hereafter be

authorized to open

by the Commissioners herein appointed

open said Books

at

any time

after the ratification

of this Act, twenty days previous notice being given in

more of the public newspapers

in this State

some one or

and that said Books, Avhen

opened, shall be kept open for the space of thirty days at

as

Wilson,

as they, or a majority of

to appoint a C'hairman of their body. Treasurer,

t.)

at Salem,
J.

shall be to di-

it

and the said Commissioners

Thomas

Avhose duty

and under the direction of such persons

places,

tliem,

or

Fries,

long

direct

dred

thereafter

and that

dollars,

all

as

the Commissioners

first

least,

aboved named

and
shall

subscription of Stock shall be in shares of one hun-

the subscriber paying at the same time of

making such

subscription five dollars on each share thus subscribed, to the person or

])er3ons authorized to receive such subscription
]:ay said

sum,

all

and

in case of feilure to

such subscriptions shall be void and of no

effect

and

7
closing the Books,

upon

of subscribers on the
eral

such sums as shall have been thus received

all

fii-st

cash instalment, shall be

Commissioners named in the third section of

sons receiving

them

and

for failure thereof

pmd

over to the Gen-

by the per-

this Act,

such person or persons shall

be personally liable to said General Commissioners before the organization of said

Company and

to the

Company

Law

to be recovered in the Superior Court of

County where such delinquent

resides, or if

organization,

itself after its

within this State, in the

he reside in any other

then in any Court in such State having competent jurisdiction

said General Commissioners shall have ])Ower to call

persons

empowered

return of the Stock

of

by them

may

sums of money made by the

all

and

to

all

any time and

think proper, to

respectively received,

Tlie

on and require

to receive subscriptions of Stock at

from time to time, as a majority of them

State,
;

make

make payment

subscribers, that all persons receiving

subscriptions of Stock shall pass a receipt to the subscriber or subscri-

bers for the paj-ment of the

paid

and upon

aforesaid,

manner

it

instalment, as heretofore required to be

shall be the

good and

received

and such

shall

and held

manner above

as soon as the said

and the

That sub-

be the duty of said General Commissioners to direct

described, until the

for the subscription of stock

sum

of one million of dollars

Company

have been subscribed to the capital stock of said

scribed,

to be

an amount not exceeding

and authorize the keeping open of Books

in the

in like

received, to the persons

vouchers to the persons holding them

sufficient

5. It shall

sums thus

receipts shall be taken

scriptions of Stock thus received to

Sec.

General Commissioners, as

duty of the said General Commissioners

to pass their receipt for all

whom

from

first

their settlement with the

sum

first

and

of one milHon of doUars shall have been sub-

instalment of five dollars per share on said

sum

Company

i5hall

have been received by the general commissioners, said

shall

be regarded as formed, and the said commissioners, or a majority

of them, shall sign

the

names of the

and

seal a

dupUcate declaration to that

subscribers appended,

cates to be deposited in the office of the Secretary of State,

forth,

from the closing of the Books of subscription

said subscribers to the stock shall form one

in deed

and

" the North

in law, for the

effect,

with

and cause one of the said dupli-

body

politic

purposes aforesaid, by the

CaroUna Rail Road Company."

as

and thence-

aforesaid, the

and

corporate,

name and

style of

Sec.

That whenever the sum of One Million of Dollars

6.

manner and form

subscribed in

shall

be

aforesaid, the subscribers, their executors,

administrators and assigns, shall be, and they are hereby declared to be

Company by the name and style of " The North"

Road Company ;" and by that name shall be capable in

incorporated into a
(Carolina Rail

Law and

Equity, of purchasing, holding, selling, leasing and convej'ing

testates, real,

vise,

personal and mixed, and acquiring the same by gift or de-

so far as shall be necessary for the purposes embraced within the

i^cope, object

and

interest of their charter

and no further

name may

perpetual succession, and by their corporate

plead and be impleaded in any Court of

of

North Carolina

may

and renew

alter

rights

and

may

Law and

have and use a

at pleasure

and

shall

and

have

shall

sue and be sued,

Equity in the State

common

seal,

which they

have and enjoy

other

all

and immunities which other corporate bodies may, and of right

do exercise

and

may make

all

such by-laws, rules and regulations, as

are necessary for the

government of the Corporation, or

effecting

the

object for which

created, not inconsistent witli the Constitution

and

it is

laws of the United States and of the State of North Carohna.

Sec.

That notice of process upon the principal agents of said Com-

v.

pany, or the President or any of the Directors thereof, shall be deemed

and taken

to be

Company,

so as to bring

due and lawful notice of service of process upon the

it

before any Court within the State of

North

Carolina.

Sec.

That

8.

as

soon as the sunr of One

been subscribed in manner aforesaid,

it

^lillion of Dollars shall

shall be the

have

duty of the General

<Jommissioners, appointed under the third section of this Act, to appoint

a time for the Stockholders to

which they

shall cause to

days, in one or

meet

at

Salisbury, in

Rowan County,

be previously published, for the space of thirty

more newspapers,

as they

may deem

proper, at which

time and place the said stockholders, in person or proxy, shall proceed
to elect the Directors of the

and by-laws

as

may

and the transaction of

its

may

direct

for the

business

to enact all such regulations

government of the Corporation

The persons

elected Directors at

such period, not exceeding one year, as the

this meeting, shall serve

stockholders

Company, and

be necessary

and

at this meeting, the stockholders shall tix

on the day and place or places where the subsequent election of Directors shall

but

if

be held

and such

elections shall henceforth bje annually

made

the day of the annual election should pass without any election of

Directors, the Corporation shall not be thereby dissolved, but

shall be

it

kwful on any other day to hold and make such election in such manner
as

may

be prescribed by a by-law of the Corporation.

Sec.

9.

rected

That the

affiiirs

by a General

Company

of the

be managed and

shall

di-

Boaitl, to consist of twelve Directors, to be elected

by the stockholders from among

tlieir

number

at their

first

and subse-

quent General Annual Meetings, as prescribed in section eighth of

this

Act.

Sec. 10. That the election of Directore shall be by ballot, each stock-

many

holder having as

pany

votes as he has shares in the stock of said

and the person having a majority of

all

Com-

the votes polled shall be

considered as duly elected.

Company

Sec. 11. That the President of the

Directors from
of the

among

Company

their

number,

in

shall

be elected by the

such a manner as the regulations

shall prescribe.

Sec. 12. That at the

first

General Meeting of the stockholders, direct-

ed to be called under section eighth of

this Act,

a majority of

the

all

shares subscribed shall be represented before proceeding to business,

and

if

number do not appear on

a sufficient

who do

regular meeting shall be thus formed

holders

may

amount

the

rum

the day appointed, those

attend shall have power to adjourn fi-om time to time xmtil a

provide,

by a by-law,

of stock to be held

and

at such

meeting the stock-

number

of stockholders and

by them, which

business at

for transacting

as to the

all

shall constitute a quo-

subsequent regular or occasional

meetings of stockholders and Directors.

Sec. 13. That at
al

all elections,

and upon

all

votes taken in any gener-

meeting of the stockholders upon any by-law or any of the

said

Company, each share of *ock

that any stockholder in said

may be

verified in

shall be

Company may

entitled to

affairs

of

one vote, and

.

vole by proxy

and proxies

such manner as the stockholders by by-laws

may

prescribe.
'

Sec. 14. That the General Commissioners shall

holders,

make

their return of

fii-st

general meeting of stock-

and pay over to the Directors elected

at said meeting, or their

the shares of stock subscribed

authorized agent,

all

failure therefor, shall

for,

at the

sums of money received from

be personally

liable to said

subscribers,

Company,

to

and

for

be recov-

ered at the suit of said Company, in any of the Superior Courts of

Law

10
in this State, within the

may

and

reside,

in

County where such delinquent or dehnquents

Uke manner from said dehnquent or said dehnquents,

executore or administrators, in case of his or their death.

Sec. 15. That the Board of Directors

may

occur in

it

may

in the absence of the President

2>ro tempore

from among

Sec. 16. That

sident

fill

their

fill

his place

by

electing a President

number.

and Secretary of the Board of

a seal, or such a

Company, by

their by-laws,

Sec. 17. That the

Company

may

shall

and

steam power, which

Ptaleigh Rail Road,

of authentication

on the

may be used,

adopt.

have power and

shall

may

proceed to

more

tracks,

extend from the Wilmington,

where the same passes over Neuse River,

County of Wayne, via Raleigh and Sahsbury,

in

by the Pre-

Directors, shall be binding

mode

construct, as speedily as possible, a rail road, with one or

to be used with

which

-sancancies

all

contracts or agi-eements, authenticated

all

Company without
as the

may

during the period for which they have been elected, and

to the

in the

Town of Charlotte,

Mecklenburg County: said Company jnay use any section of the

rail

road constructed by them before the whole of said road shall be completed.

Sec. 18. That the said

Company

shall

have the exclusive right of

conveyance or transportation of persons, goods, merchandise and produce

over the said

may

rail road,

to be

by them

constructed, at such charges as

be fixed on by a majority of the Directors.

Sec. 19, That the said

Company may, when

they see

fit,

farm out

their right of transportation over said rail road, subject to the rules above

mentioned

and said Company and every person who may have

receiv-

ed from them the right of transportation of goods, wares and produce

on the said
as respects

rail
all

road, shall be

deemed and taken

common

to be a

carrier,

goods, wares, produce and merchandise entrusted to

them

for transportation.

may call for the payment of

Company in such instalments as the

Sec. 20. That the Board of Directors

the

sums subscribed

interest of said

as stock in said

Company may,

in their opinion, require

the call for

each payment shall be published in one or more newspapers in this State

for the space of

one month before the day of payment

and on

failure

of any stockholder to pay each instalment as thus required, the Directors

may

sell at

pubHc

auction,

on a prenous notice of ten days for cash,

11
all

Company, by such

the stock subscribed for in said

convey the same to the purchaser at said sale

do not produce a sum

sale,

for

and the

sufficient to

pay

and

if

stockholder, and
said sale of stock

off the incidental

amount owing by such stockholder

entire

expenses of the

to the

Company

such subscription of stock, then and in that case the whole of such

balance shall be held and taken as due at once to the Company, and

may

be recovered of such stockholder or his executors, administrators

or assigns, at the suit of said

any Court of superior

resides,

Company,

either

jurisdiction in the county

any Court of competent

dred dollars

and

in all cases of

amount has been paid

to the

ac-

by a warrant

does not exceed one hun-

assignment of stock, before the whole

Company, then

both the original subscribers, and the

signees shall be liable to the

jurisdiction, or

sum

before a Justice of the Peace, where the

in

where the dehnquent

on a previous notice of ten days to said subscriber, or by the

tion of assumpsit in

stock,

by summary motion

for all

first

sums due on such

and

subsequent

all

as-

Company, and the same may be recovered

as above described.

Sec. 21.

That the debt of stockholders, due to the Company

therein, either as original proprietor or as first

for stock

on subsequent assignee,

be considered as of equal dignity with judgments in the distribution

shall

of assets of a deceased stockholder, by his legal representatives.

Sec. 22.

members
as

may

That said Company

shall issue certificates of stock to

and said stock may be transferred

in such

be directed by the by-laws of the company.

Sec. 23. Tliat the said company may, at any time, increase
tal to

sum

sufficient to

dollars, either

new

stock, or

shall

by opening Books

its

its

capi-

selling

such

complete said road, not exceeding

new

for

by bon-owing money on the

on the mortgage of

same

its

manner and form

charter

be done in either

and works

case, shall

stock or

by

credit of the

company, and

and the manner

in

which the

be prescribed by the stockhold-

ers at a general meeting.

Sec. 24. Tliat the Board of Directors shall once in every year, at

make

full

report

on the

state of the

company, and

meeting of the stockholders, and oftener

have power to

call

and the company may provide,

meetings being called, and prescinbe the

Sec. 25. That the said

company may

least,

to a general

required by a by-law, and shall

a general meeting of the stockholders,

may deem it expedient

for occasional

if

its affaii-s

when

the Board

in their by-laws,

mode

thereof.

purchase, have and hold, in

fee.


12-

or for a term of years, any land, tenements, or hereditaments, which

be necessary

may

for the said road, or the appui'tenances thereof or for the erec-

tion of depositories, store houses, houses for the officers, servants or agents

of the company, or for workshops or foundries, to be used for the said

company

or for procuring stone or other materials necessary to the con-

struction of the road, or for effecting transportation thereon,

and

no

for

other purposes whatever.

Sec. 26. That the company shall have the right,

when

necessary, to

conduct the said road across or along any public road or water course

Provided, That the said company shall not obstruct any public road,
without constructing another equally as good and as convenient, nor without making a draw in any bridge of said road, which may cross a navigable
stream, sufficient for the passage of vessels navigating such stream, which

draw shall be opened by the company

for the free passage of vessels, navi-

gating such stream.

Sec. 21. That when any lands or right of

company,

for the

agreement

as

way may be required by said

purpose of constructing their road, and for the want of

to

the

value

thereof,

or from any other cause,

the

same cannot be purchased from the owner or owners, the same

may

be taken at a valuation to be made by

five

commissioners, or a

majority of them, to be appointed by any court of record, having com-

mon
of

law jurisdiction in the county where some part of the land or right

way

ei"s

situated.

is

In making the said valuation, the said commission-

shall take into consideration the loss or

to the o^\^ler or

damage which may

accrue

owners in consequence of the land or the right of way

being surrendered, and the benefit and advantage he, she, or they
receive

from the erection or establishment of the

shall state particularly the value

loss

rail

and amount of each

and damage, over and above the advantage and

the measure of ^"aluation of the said land or right of

ertheless, that if

may

road or work, and

;

and the excess of

benefit, shall

way

form

Provided, nev-

any person or persons over whose land the road

may

pass,

should be dissatisfied with the valuation of said commissioners, then and

tliat case,

the person or persons so dissatisfied

may have

iii

an ajipeal to the

Superior court, in the county where the said valuation has been made,
or in either county in which the land

one county, under the same

peals from

lies,

when

rules, regulations

judgments of justices of the peace.

it

and

may

he in more than

restrictions as in ap-

The proceedings

of the

said commissioners, accompanied Avith a full description of the said land

or right of way, shall be returned, under the hands and seals of a

ma-

13
jority of the commissioners, to the court from which the commission

way

so valued

so long as the

by

company

may be

for the purposes of said rail road, so

paid, or,

when

Provided, that on appHcation

the lands or right of

the said commissioners, shall vest in the said

same shall be used

as the valuation

ed

And

remain a matter of record.

issued, there to

refused,

for the

may have

soon

been tender-

appointment of conmiissioners,

under this section, it shall be made to appear to the satisfaction of the court,
tliat at least

the

or ownei-s of land so proposed to be

owner

er or

ten days previous notice has been given

or, if

to

the own-

owners be infants or non compos mentis, then to the guardian of

such owner or owners,

if

by the applicant

condemned,

if

such guardian can be found within the county, or

he cannot be so found, then such appointment shall not be made unless

notice of the application shall have been published, at least one

next preceding, in some new^spaper printed as convenient as

month

may be to the

court house of the county, and shall have been posted at the door of the
court house, on the ^rst day at least of the term of said court, to which the
application

is

made

Provided further, that the valuation provided

made

be

in this section, shall

which oath, any justice of the peace, or clerk of the court of county
which the land or a part of

it lies, is

company

in

hereby authorized to administer

Provided further, That the right of condemnation herein gi-anted

not authorize the said

for

on oath by the commissionei"s aforesaid,

shall

to invade the dwelling house, yard, gar-

den or burial ground of any indi\idual, without

Sec. 28. That the right of said

company

his consent.

condemn

to

lands in the

inanner described in the twenty-seventh section of this Act, shall extend

to the

condemning one hundred

feet

on each side of the main track of

the road, measuring from the centre of the same, unless in case of deep
cuts

and

much

fillings,

when

said

in addition thereto,

structing said road

company

a.s

may

shall

be necessary for the purpose of con-

and the company

any appropriate lands

in like

have power to condemn as

manner,

shall also

have power to condemn

for the constructing

of depots, shops, ware-houses, buildings

for,

employed on the road, not exceeding two

and building

servants, agents

acres in

any one

and pereons

lot or station.

Sec. 29. That in the absence of any contract or contracts with said

company,
es

may

in relation to lands

pass, signed

through which the said road or

by the owner thereof

ant or person in possession thereof, which

er thereof, it shall be

or

by

may

his agent, or

its

branch-

any claim-

be confirmed by the own-

presumed that the land upon which the said road

14
or any of

hundred

its

feet

branches

on each

may

be constructed, together with a space of one

side of the centre of the said road, has been granted

to the said

company, by the owner or owners thereof

pany

have good right and

shall

title

and

thereto,

and the

said

shall have, hold

com-

and en-

joy the same as long as the same be used for the purposes of said road and

no longer, unless the person or persons owning the said land at the time

may

that part of the said road which

be on the said land, was finished,

or those claiming under him, her or them, shall apply for an assessment

of the value of said lands, as hereinbefore directed, within two years next
after that part of the said road,

finished

and

which

may

be on the said land, was

owner or owners, or those claiming under

in ease the said

him, her or them, shall not apply Avithin two years next after the said
part was finished, he, she or they shall be forever barred from recovering

any assessment or compensation thereof: Provided,

said land or having

nothing herein contained shall

until

two years

after the

Sec. 30. That

all

effect

the rights of/eie coi'erfs or infants,

removal of their respective

disabilities.

lands not heretofore granted to any person, nor ap-

propriated by law to the use of the State, within one hundred feet of
the centre of said road, which

company

shall vest in the

laid out

through

it,

Sec. 31. That

rail

if

may be

constructed

by the

said

as soon as the line of the road

and any grant of said land

any person or persons

company,

is definitely

thereafter shall be void.

shall intrude

upon the said

road by any manner of use thereof, or of the rights and privileges

connected therewith, without the permission or contrary to the vnW of

the said company, he, she or they

upon

conviction, fined

may

be indicted for misdemeanor, and

and imprisoned by any court of competent

juris-

diction.

Sec. 32. That

in

if

any person

shall wilfully

and maliciously destroy, or

any manner hurt, or damage, or obstruct, or

ciously cause, or aid, or assist or counsel

persons to destroy, or in any manner to hiut,

or obstruct the said rail road, or

shall wilfully

and mali-

and advise any other person or

damage

or destroy, injure

any bridge or vehicle used

for or in the

transportation thereon, any water-tank, ware-house, or any other property of said

company, such person or persons so offending,

to be indicted therefor, and,

than

six,

hundred

nor

less

dollars,

on

shall be liable

conviction, shall be imprisoned not

than one month, and pay a

fine

more

not exceeding

five

nor less than twenty dollars, at the discretion of the

court before which said conviction shall take place

and

sh^

be further

15
liable to

pay

all

expenses of repairing the same

and it shall not be compe-

tent for any person so offending against the provisions of this clause to defend

himself by pleading or giving in evidence that he was the owner, agent or

servant of the owner of the land where such destruction, hurt, damage, injury, or obstruction

was done, at the time the same was done or caused to

be done.
Sec. 33. That every obstruction to the safe and free passage of vehicles

on the

said road or

its

branches shall be deemed a public nuisance, and

may be abated as such by any officer,

agent or servant of said company

and the person causing such obstruction may be indicted and punished for
erecting a public nuisance.

Sec. 34. That the said company shall have the right to take at the
store-houses they

branches thereof^

may
all

estabhsh on, or annex to their

transportation, prescribe the rules of priority,

may
may be fixed by

they by rules

and reasonable compensation

lish

(which they shall cause to be published) or as

tion

Avith the

road or the

and charge and receive such

just

ment

rail

goods, wares, merchandise and produce intended for

for storage, as

owner which may be

distinct

from the rates of transporta-

Provided, that the said company shall not charge or receive storage

on goods, wares, merchandise or produce which may be delivered

at their regular depositories for

company may have power

will permit,

shall,

be semi-annually divided

may

Sec. 36. That whenever

provements of

this State,

them

to transport immediately.

may deem advisable,

portion to the stock each

to

immediate transportation, and which the

much

Sec. 35. That the profits of the company, or so

general Board

ny

estab-

agree-

when

the

among

thereof as the
of the compa-

the stockholders, in pro-

own.

shall appear to the

it

by a

affairs

certificate

Board of Internal Im-

under the

seal of said

company,

signed by their Treasurer and countersigned by their President, that one

third have been subscribed for

and taken, and that at

least five

hundred

thousand dollars of said stock has been actually paid into the hands of said
Treasurer of said company, the said Board of Internal Improvements
shall be,

and they are hereby authorized and required to subscribe on be-

half of the State, for stock in said company, to the

of Dollars to the capital stock of said

company

six

company

months

shall

amount of Two Millions

and the subscription shall

The one

fourth part as soon as

commence work, and one

Iburth thereof every

be paid in the following manner, to wit

the said

thereafter, until the

whole subscription in behalf of the State

16
shall be paid; Provided^ tlie Treasurer
shall, before

and President of said eompany

they receive the aforesaid instalments, satisfactorily assure

the Board of Internal Improvements, by the certificates, under the seal

of said company, that an

amount

of the private subscription has been

paid in equal proportion to the stock subscribed by the State.

Skc.

That

3*7.

if

in case the present Legislature shall not provide the

necessary and ample

means

to

pay the aforesaid instalments on the stock

subscribed for on behalf of the State, as pi'ovided for in the 36th section

of this Act, and in that event, the Board of Internal Improvement afore-

and they are hereby authorized and empowered

said, shall,

to borrow,

on

the credit of the State, not exceeding two million of dollars, as the same

may

be needed by the requirements of this Act.

Sec. 38. That

by

this

if

in case

it

become necessary to borrow the money,

shall

Act authorized, the Public Treasurer

certificates,

sums not

than one thousand dollare each, pledging the State for the

less

payment of the sum therein mentioned, with

of interest not exceeding six per cent, per
at such times

which

shall issue the necessary

signed by himself and countersigned by the Comptroller, in

and places

certificates shall

as the Treasurer

annum, payable semi-annually,

may

appoint

the

principal of

be redeemable at the end of thirty years from the

time the same are issued

shall be issued at

interest thereon at the rate

but no greater amount of such

any one time than may be

sufficient to

certificates

meet the

in-

stalment required to be paid by the State at that time.

Sec. 39.

Be

it

further enacted, That the Comptroller shall register

said certificates at large in a

book

the time he countersigns the same

to
;

the Public Treasurer, he shall charge

thereof,

and

obtain by

also

way

with

of

all

such sums,

premium on

be by him kept for that purpose, at

and when he dehvers the same

him
if

in his

to

books with the amount

any, as the Public Treasurer

may

the sale of the said certificates, an acsouut

of which the Public Treasurer shall render to the Comptroller, so soon

as negotiations

from time

to time,, for tlie sale of said certificates, are

closed.

Sec. 40.
issue

or
for

Be

it further

enacted,

more newspapers,

as he

may

be wanted at any one time, and

may

if it shall

become necessary

to

think best, and invite sealed proposals

such amount of the aforesaid

which

That

Public Treasurer shall advertise in one

tlie eertifieates aforesaid, liie

sum

it

of two n>ilhons of dollars as

shall

may

be his duty to accept those trms

be most advantageous to the State

Provided, that in no

17
e\ent shall any of

ue

tlie

said cin-tificates

Ixj

sold for less than Uieir pav val-

and any premium whioli may be obtained on

shall

i-ates

tlie sale

of said

certifi-

be placed in the Public Treasury, and used as other public

funds in the payment of interest on the debt hereby created.

Sec. 41. JJe

it

further enacted, That as security

redemption

for the

of said certificates of debt, the public faith of the State of North Carolina is

hereby jiledged to the holders thereof, and in addition thereto

by the State

the stock held

ny " hereby created,

}HU'pose

apphed
until

and any

to the

shall be,

payment

and the same

is

the Trciisurer, and he

hereby, pledged for that

may, from time

on said

of the interest accruing

profit

is

all

The North Carohua Kail Road Compa-

di\"idends of profit wliicli

such dividends of

interest as the

in "

may

be declared,

it

to time, be

certificates

hereby authorized and directed to pay

same may accrue out of any moneys

but

duty of

shall be the

all

such

in the Treas-ury not

otherwise appropriated.

Sec. 42.

Be

it

further enacted, That the certificates of debt hereby

authorized to be issued, shall be transferable by the holders thereof, their

agents or attorneys, properly constituted, in a book to be kept by tho

Public Treasurer for that purpose

fer is

made, the outstanding

to the Public Treasurer,

amount, issued

and

in every instance,

certificate shall

and by him

and a ne^v one,

cancelled,

in its place to the person to

where a trans-

be surrendered and given un

for

the

whom the same is transferred.

Sec. 43. That the State shall appoint the number of Directors in said

company,

in |)roportion to the stock subscribed,

who

shall be appointed

by the Governor, by and with the advice and consent of

removed

in like

Sec. 44. That the following

actual

liis

employment of the

said

officers

and servants and persons

company

be,

and they

and

and Treasurer of the Board of

Directors,,

in tlie

are hereby exempt-

ed from the performance of jury and ordinary military duty

sident

council,

manner.

The Pre-

and chief and

assistant

Engineers, the Secretaries and accountants of the company, keepers of

the depositories, guard stationed on the road to protect

and

sucli persons as

ting with

cai-s for

duce, goods

may

the purpose of attending to

and passengers on the

Sec. 45. B<i

it

it

from

injury,

be working; the locomotive engines and travel-

enacted,

That

th;j

tnmsporting of pnv

r(jad.

for th*-

purpose of putting

tLn-

Rall>^^i

18

and Gaston Rail Road in good and complete order

and produce, and

transportation of persons

viving the Raleigh and Gaston Rail

Thomas

Miller,

John

Weldon N. Edwards, George D.

W.

Mordeica, Richard Smith,

Hawkins,

and the

Sr.,

Road Company,
tions as

may

corporate,

Baskerville, of

W. W.

Holden, of

or

and obligors

William

Wake

style of the

name shall be

that

have, possess and enjoy

"

An

all

and

Act

and

habilities

declared to be in

George

John D.
;

and Gaston Rail

body pohtic and

Raleigh and Gaston Rail Road

and be sued, and

able to sue

shall

Road Company, by
and Gaston Rail

to incorporate the Raleigh

the General Assembly of this State on the

shall

be subject to

all

the restraints, limitations,

imposed by the said Act

visions of the said Act, so far as the

l)y

the rights, fi-anchises, powers and privileges,

Road Company," passed by

day of

Hawkins,

of Franklin county

Jr.,

for the Raleigh

vested in and granted to the Raleigh and Gaston Rail

an Act, entitled

re-

any part of them, and such other persons and corpora-

by the name and

restrictions

county

associate with them, are hereby created a

Company, and by

J.

Warren county

Allen C. Perry, John D. Hawkins,

late stockholders of

purpose of

Road Company, Rhodes N. Herndon,

Eaton, of Granville county

S.

for the profitable

for the further

full force

and

same remain
effect,

and

all

the other pro-

to be executed, are here-

upon the following terms and

conditions nevertheless.

Sec. 46.
sociates

Be

it

named in

enacted.,

That whenever the said persons and

ve hundred thousand

loss
all

than

fifty

heavy

T iron,

sum

of

purposes aforesaid, and shall have

dollars, for the

expended the same, in putting the Raleigh and Gaston

plete order, with

their as-

the foregoing section, shall have subscribed the

rail

road in com-

or other iron equally good, not weighing

pounds to the yard, then one half of the said

rail

road, with

the machine shops, depots, water stations, engines, coaches, cars and

every other property appertaining to the

and

rail road, shall

transfen-ed to the said subscribers, their heirs

ernor, under the great seal of the State

obligors of the said Raleigh

and the said

hereby aiithorized, and

it is

prosecution of suits brought

it

by the Gov-

late stockholders

and

and discharged from

all

hability

and on account of the said Raleigh and Gaston Rail Road

Company, upon the payment

obligors, until

be sold, conveyed

assigns,

and Gaston Rail Road Company, shall be and

are hereby declared to be forever released

to the State, for

and

of costs incurred.

And

the Governor

is

declared to be his duty to suspend the finther

by the State, against the said stockholders and

can be ascertained whether the subscribers are willing to

19
accept the conditions of this Act,

and

tliat

they shall be allowed two years

from the passage of this Act to make known

And if

Governor.

and the work commenced Avithin two

ratification of this Act,

from the

force for ninety years

Be

Sec. 47.
accepted,

and finished within three years

then this Act shall continue and be in

full

and no longer.

and the sum of

subscribed

years,

farther enacted^ That

it

their determination to the

the terms and conditions of this Act shall be accepted,

five

if

the conditions of this Act aro

hundred thousand

by solvent subscribers,

to be

Attorney General, then and in that

dollars shall

have been

judged of by the Go\'ernor and

case, the said subscribers shall

have

said rail road, to enable

them

lawful authority to mortgage one half of

tlie

to obtain the necessary credit to purchase a part of the iron which

be needed

Avill

for said road.

Sec. 48.

Be

it

further enacted^ That

fuse or neglect to accept the terms

tlie benefits

of the

same

shall

the said subscribers shall re-

if

and conditions of

then

this Act,

all

be gTanted to Thomas F. Wyatt, John

Campbell, Thomas P. Devereux,

Andrew Joyner, Weldon N. Edwards,

George D. Baskerville, and Alexander Plawkins, and such other persons

as

may

associate with them,

who

shall accept

terms and conditions of the same

and comply

and they and

Avith all the

their successors are

hereby incorporated into a Company, by the name and style of the Raleigh

and Gaston Rail Road Company, and by that name

ful authority to sue

and be sued,

to hold, possess

shall

and enjoy

have law-

all

the rights,

be subject

powers and pri\ileges gi-anted by

this

Act and

shall

to all the restraints, hmitations, restrictions,

and

liabilities

imposed bv the

franchises,

same.

Sec. 49.

Be

it

enacted,

That whenever the Roanoke Rail Road Com-

pany or the Seaboard and Roanoke Rail Road Company,

A\ith or Avith-

out the aid of indiA'iduals, shall subscribe to the Raleigh and Gaston Rail

Road Company, one

half of the

sum

necessary to construct a

rail

road

from some convenient point on the Raleigh and Gaston Rail Road, near
the Littleton Depot, or any point between that Depot and Roanoke River,

and the

Toaaoi of

Weldon, or any point in the neighborhood

to connect with the

thereof, so

a>;

Wilmington and Raleigh Rail Road, and the Sea-

board and Roanoke Rail Road, and shall expend the said sum
the said connection, then the said Raleisrh

in

and Gaston Railroad

forming
shall be

'

20
extended to the said town of Weldon or neighborhood thereof; and the

PubUc Treasm-er

sum

equal

for

out of any

is

and

hereby authorized and directed to subscribe for an

and pay

in behalf of the State,

money in

for

such subscription,

the Treasury not otherwise appropriated

want of such money

Pubhc Treasurer

in the Treasury, the

thorized to borrow the

sum

is

and for the

hereby au-

at a rate of interest not exceeding six per cent,

per annum, and to issue bonds payable at any time within ten years, for

not

than

less

Sec. 50.
charter

is

hundred

five

And

dollars each.

That one of the conditions of

be it further enacted,

that this General

any future session to

Assembly

this

have power and authority at

shall

and control the intercourse be-

establish, 'regulate

tween the North Carohna Rail Road and the Raleigh and Gaston Rail
Road, so as best to secure to the public

easy and convenient passage of

aji

persons and property.

Ssc. 51.
lars, to

Be

it

be raised

further enacted, That the

])y

by the provisions of

raise^i

sum

of forty thousand dol-

manner

the State in the same

as other

and the same

this Act, be,

is

moneys

are

hereby appro-

priated for the purpose of cleaning out and improving the navigation of

the river Neuse, between the town of

And

iield.
1)8

raised in like manner, be

]>urpose of cleaning out

Newbern and the town

sum

also, that the further

and the same

is

between the town of Washington and the

rivei-s

shall not

!iy shall

by

Provided, the

i\\:i

for

the

falls

of the said river; and

hereby empowered and i-equired tu

is

appoint suitable commissioners to carry into

:

hereby appropriated,

and improving the navigation of the Tar rWev

that his Excellency the Governor

section

of Smith-

of twenty-five thousand dollars, tu

sum hereby

effect

the requirements of

a])propriated to the

be paid by the Public Treasurer, until the

tliis

Neuse and Tar

raili'oad

compa-

have subscribed the whole amount of stock required from them,

provisions of tins Act, and ha^e eomnu>nced operations on said

road.

Skc. 52. Jye

lina Rail Rail

it

further enacted, That

Road

is

do\v'n at Rali^igh, tlie

said

shall be,

to effect a junction

laid

and they

are hereby authorized

and

and tbrm an actual connexion with the

North Carolina Rail Road,

lj:i]>"'igh

soon as the said North Caro-

owners, proprietors and authorities of the Raleigh

and Gaston Rail Road

empowered

jts

cotnmenced and the supei-structure of the same

as they in their discretion

at

such point at or in the vicinity of

may

select.

21
Sec. 53.
of

tlie

Be

it

further enacted, That

all

North Carolina Rail Road Company

diligence,

and

if

the works hereby required

shall

be executed

-with

due

they be not commenced within three years after the

ratification of this Act,

commencement, then

and

finished within ten years after the period of

this charter shall

be

forfeited.

BY-LAWS
OF THE

NORTH CAROLINA RAIL ROAD COMPANY.

MEETING OF STOCKHOLDERS.
I.

The next General Meeting

of the Stockholders shall take place in

Greensborough, on the second Thui-sday of July next

Annual Meeting
all

shall

subsequent meetings shall alternate in the same

borough, Raleigh and SaUsbuiy.

elected, shall

and the

secoijd

be ^t Raleigh, and the third at Sahsbury

remain in

office until

And

and

way betw een Greens-

the Board of Directors

now

such Annual Meeting at Greensbor-

ough, in July next.

II.

On

failure of the Stockholders to elect Directors at

Annual Meeting,

it

shall

ing, forthwith to advertise a

held

^^'ithin

General Meeting of theStockholdei-s to be

twenty days thereafter for the purpose

the President so to advertise, or of

Directors,

it

shall

any General

be the duty of the President, for the time be-

the meeting so

and on
called

failure of

to

elect

be the duty of the Directors for the time being, or any

one of them, to advertise as above

directed.

91

At

III.

least

one hundred indindual stockholders, represented either

hy proxy, and hokUng not

in person or

than a majoi'ity of the Stock

less

subscribed, shall be necessary to constitute a

quorum

for the transaction

of business.

IV. The President or any

they

may

think proper

tirst

and

to call oc-

he or

places, as

giving twenty days notice

more newspapers published within the

or

power

fi\e Directors shall liave

casional meetings of the Stockholders at such time

tliereof, in

two

State.

PRESIDENT.
The President

I.

shall be elected annually

Board of Directors

of the

services

and

by

an annual salary of $2500, over and above

ling expenses incurred

by order

by the majority

ballot

shall receive as conrpensation for his

of the

Board of

his necesssry travel-

Directors, in journeys

out of the State.

The President

II.

of

shall

have the general superintendence and control

Company, and

the other officers of the

all

unless otherwise provided for

of Directors

he

shall carefully

and from time

duties,

examine into the performance of

to time report to the Directors all

touching the interests of the

ter

shall prescribe their duties

by the Rules and Regulations of the Board

Company which

their

and every mat-

shall

come

'

to his

knowledge.

The President

III.

shall

keep the seal of the Company, and with the

consent of a majority of the Directors shall

the same to

all

con-

veyances and other instruments to which the attestation of the seal

may

affix

be necessary, and sign the same on behalf of the Corporation.

TREASURER AND SECRETARY.

The

I.

offices of

Board of Directors
II.

Secretary and Treasurer shall be combined until the

shall

deem

it

necessary to se]3arate them.

The Treasurer and Secretary

Directors,

and

shall give

bond

shall be appointed

in the

sum

by the Board of

of |80,000, with security to

be approved by the Board, and shall receive for his

ser^'ices

the

sum

of

81250 per annum.

III.

and

It shall

fair

rectors

time be

be the duty of the Ti-easurer and Secretary to keep a full

journal of the meetings and proceedings of the Board of Dito advertise

made upon

and

collect all assessments

the Stockholders

and

which

may from

in failure of

time to

any Stockhold-


25
er

to

pay

his

assessments

the time prescribed, to report the

>\'ithiu

n.ame or names of such Stockhoklei-s to the President

of and safely keep

all

money and

the

to take charge

other valuable effects of the

pany, and to disburse the same under the direction and upon the
;

ments, and to perform

all

Board of

to take proper vouchers for such

and

sition of the President

such

of

in the

Bank

Cape Fear

all

moneys

of the State, at Raleigh,

at Salisbury,

and

shall

and

oftener as the President

no time retain

shall at

in his

Branch of the Bank

keep a regular and accurate account

President and Directors a quarterly account of

much

Compa-

belonging- to the

in the

made by him, and

of receipts and disbursements

as

disburse-

be prescribed by the

Directors.

IV. The Treasurer shall deposit

ny

may

othei- duties as

Comreq\ii-

shall render to the

all his

transactions,

and Directors may require

and

and he

hands a sum exceeding five thousand

dollars.

DIRECTORS.
The Board

I.

The

fii'st

of Directors shall

meet once

in every three months.

meeting shall take place in Salisbury, and

Board may

ings at such places as the

Board

at liberty to convene the

Company may

require

as

direct

much

all

subsequent meet-

and the President

shall be

oftener as the interests of the

and the Directors

compen-

shall receive as full

sation for their services at the rate of ten cents per mile for every mile
travelled to

Board of

and from the place of meeting

and

fi\e

members

Directors, including the President, shall constitute a

of the

quorum

for the transaction of business.

II.

The President and

Directors shall have power to

neers and such other Officers and Agents as the^to fix their compensation

and

shall

make

may

a report of

employ Engi-

think proper, and

all

such apjwint-

ments to the regular Annual Meeting of the Stockholders.

III.

The

Directors shall have power to estabhsh a

suitable devices

to ascertain

and Servants of the Company, and

thereof,

and

to dismiss

common

and define the duties of the

direct

them

in

seal with

Officers, Clerks,

the performance

from the service of the Company any

or Agent, Clerk or Servant appointed

by them,

Officer,

at pleasure.

PROXIES.
All Proxies shaU be signed by the party and attested by

some Jiistice

of the Peace, Clerk of a Court of Record, Notai'v Public, or

some Di-

26
rector of the

Company, and none but a Stockholder

be a Proxj.

shall

(CONTRACTS.
Contracts shall be
tors shall prescribe,

on the Company,

made imder such rules and regulations as the

and when signed by the President,

shall

Direc-

be binding

either with or without the seal of the Corporation.

CERTIFICATES OF STOCK.
The form of

all Certificates

of Stock shall be as follows

North Carolina Rail Road Company.

Shares.

JTo.

Be

it

known

of

that

Company,

is

shares in the North Carolina Rail

entitled to

transferrable

personally or

by the said

Road
either

by Attorney, only at the Office, and on the Books of said

'Company.
Witness,

President of the said

North Carolina Rail Road Company at

the seal of the Corporation, this

under

day of

A.D.

And

the Stock shall be transferred, either in person or by Attorney,

at the Office,
pose.

and on the Books of the Company

to be kept for that pur-

GENERAL MEETING OF STOCKHOLDERS.

The Stockholders having met

in the Methodist Church, at Salisbury,

on Thursday, the llh day of July, A. D. 1850, pursuant to advertisement.

On

motion of R. M. Saunders, Esq., Hon. Duncan Cameron, was

ed to the Chair

and on motion, John B. Lord, and

S. F. PhiUips,

call-

were

appointed Secretaries.

On motion,

of

W.

A. Graham, Esq., a Committee of three were ap-

pointed to examine and report

how much

Stock was represented in this

meeting, whether in person or by proxy, and

proxy was in due form or

W.

A. Graham, George

if

by proxy, whether such

not.

W.

Mordecai, and John A. Gilmer, were ap-

pointed by the Chair to constitute said Committee.

Mr. Graham, fi-om the Committee above appointed, reported, that

the Committee in discharge of their duties

had examined the

Stockholders present, and the Proxies handed

to be duly represented,
shares, the

On

and

lists

of

find 8,550 shares

which being a majority of the whole number of

meeting was ready to proceed to business.

motion, the report was then amended by the addition of 218

by

shares represented

On

in,

individuals arriving since the

Committee

retired.

motion, the report was then adopted.

John M. Morehead, Chairman of the Board of General Commissioners presented the

original

Journal of the proceedings of said Board with the

Books of Subscription and the duplicate declaration required

by the Charter, which, on motion, was refen-ed

to

examine and report

if

to a

Committee of three

the action of said Board had been in accord-

ance with the provisions of the Charter.

The Chairman annuounced

M. Saunders, John

W.

that this

Committee would

consist of R.

Norwood, and Calvin Graves, Esqrs.

28

On

motion, a Committee of five was appointed to report By-Laws

government of the Corporation and the transaction of business.

for the

John M. Morehead, George

W.

Mordecai, Frederick J. Hill, James

M.

Leach, and Hamilton C. Jones, were appointed said Committee.

On

motion, of George

W.

Mordecai, a Committee of thirteen was

appointed to enquire and report upon what basis the Directors shall be
apportioned

among

the several Counties, and in

what manner the Di-

rectors shall be nominated.

Committee

consists of

William Boylan, A.

J.

DeRosset, E. R. Stanly,

James Griswpld, William A. Graham, Benjamin TrolUnger, A. Hargrave,

N. Boyden, A. G. Carter, James E. Wilhamson, John A. Gilmer,

D. Coleman, and Francis

On

Fries.

motion, the meeting adjourned to nine o'clock, A. M., to-morrow.

Friday, July 12 th, 9

The meeting was

W.

called to order

by the

A. Graham from the Committee of

which was adopted^ and the meeting,

after

A. M.

o'clock,

Chair.
thirteen, submitted a report

nominations

made

in pursu-

ance of said report, proceeded by ballot to elect twelve Directors, John

W, Norwood

and

W.

A. Wright, being a Committee to superintend the

balloting.

Mr. Norwood from the Committee to superintend the ballotting,

jx)rted that
Fries,

John

W.

C. Means,

Thomas, John M. Morehead, John A. Gilmer, Benjamin

T, Jerkins,

The report

re-

John L Shaver, John B. Lord, Francis

William A. Graham, Romulus M. Saunders, A.

Trollinger,

and A.

Wilham

had received a majority of the votes

of the

J.

DeRosset,

cast.

Committee being then adopted the above named

persons were declared duly elected Directors.

R. M. Saunders, submitted the following report

The ComBiittee

to

whom

was

referred the Joimial of the

General

Commissioners and the papers accompanying the same, submit the

fol-

lowing Report

The Committee have examined

them, and
strictly in

A\ith care the

papers submitted to

find the proceedings of the Commissioners to have been

conformity with the Act of the General Assembly, entitled

29
" All Act to incorporate the
ratified the

North Carolina Kail

27th day of January, 1849.

Road Company,"

Coniniissiouors held an adjourned meeting at Chapel

day of June, 1850, when

it

as

appears that the General

It

was ascertained from the

Hill,

on the 5th

Books

original

as

returned by the local Commissioners to receive suljscriptions of Stock,

that the

sum

the

instalment of five dollars per share on the said

tu-st

paid.

of

One

JNIiUion of Dollars

had been

fully subscribed,

and

sum had been

That the Commissioners thereupon in accordance with the pro-

visions of the

Act of the General Assembly, caused

plicate declaration

under their

hands and

subscribers appended, declaring the

made

to be

a du-

with the names of the

seals

Comjiany duly formed

for the pur-

poses mentioned in the Act of Incorporation from the 6th June 1850,

and a copy thereof

to be deposited in the office of the Secretary of State.

Whereupon, the Commissioners caused

the

Act of Incorporation

holders would be held in the

day of July, 1850,

ter as

it

to be

pubhshed

as aforesaid, that a General

for the

Town

as directed

by

Meeting of the Stock-

of Salisbury, on Thursday the 11th

purpose of taking such action under the Char-

should be deemed proper, and requesting the attendance of the

Stockholders either in person or by proxy.

The Committee being

entirely satisfied as to the regularity of tlie pro-

ceedings of the General Commissioners, and that the provisions of the

Act of the General Assembly have been

adoption the following resolution

fully

complied

submit for

AA-ith,

Resolved, That the Joiu'ual of the (xeneral Commissioners with the

Books and Papers accompanying the same, be delivered

ry of the

Company, and

that the

fifty

Commissioners be paid over to the

to the Secreta-

thousand dolhu's held by said

I)irectors or their authorized

Agent.

Respectfully submitted,

R.

Signed,

SAUNDERS,

M.

Chairman.

July 12, 1850.

AVhich report with accompanpng resolution was adopted.

John M. Morehead from the Committee

ted a report, which after discussion

to report

and amendment,

By-Laws, submitAvas adopted.

Mr. Gilmer offered a resolution Avhich Mr. Norwood proposed to

amend, when Mr. Osborne moved

to

amend

Mi-.

Norwood's^

amendment

which being accepted by Mr. Gilmer, was adopted as follows

Resolved, That the Directors in the construction of the North Caro-

30
lina Rail

Road, be instructed by

this meeting, to carry out in

good faith

the resolutions adopted in the several Conventions held at Salisbury,

Greensborough and Hillsborough.

Daniel Coleman offered the following preamble and resolution which

was adopted
Whereas, The stock in the North Carolina Rail Road has been taken
with a view to the same being so located as to pass by or near the Towns
of Hillsborough, Graham, Greensborough, Lexington, and Concord,

Be

it

JResolved,

That the Directors be instructed to ascertain by actual

surveys whether said route,

all

things considered,

not the most prac-

is

ticable.

On

motion of H. C. Jones,

Resolved, That the President and Du-ectors cause to be published in

pamphlet fonn 2000 copies of the Charter, By-Laws, and so much of

the Proceedings of this meeting as they

On

may deem

proper.

motion of William A. Graham,

Resolved, That the thanks of this meeting be, and they are hereby

tendered to the Methodist Church, for the use of their Building.

On

motion of Calvin Graves,

it

was unanimously

Resolved, That the thanks of this meeting be tendered to the Chair-

man,

for the dignity, abihty

ded over

With

its

and impartiality with which he has

deliberations.

appropriate remarks, the Chairman declared the meeting ad-

journed sine

die.

DUNCAN CAMERON,
John

presi-

B. Lord,

S.F. Phillips,

r SecreU^ries.

Chairman.