Treasurer to de- ized to deliver to said Rail Road Company two hundred liver bonds. Proviso. Dividend, how applied. No discrimination to be made. Proviso. and forty thousand dollars of the above named seven hundred and twenty thousand dollars of bonds; and upon the payment of the succeeding amounts named in said section, the Public Treasurer is authorized to deliver bonds to the amount of double the sum paid, until all said bonds are delivered to said Rail Road Company: Provided, also, That at the expiration of two years from the date of the first coupon of the bonds authorized in this act, the Public Treasurer shall be authorized to issue to said Rail Road Company an additional amount of bonds equal at their par value to the amount paid in cash by said Company in behalf of the State according to the provisions of section seven of this act, said bonds to be in all respects similar to those authorized to be issued by this act. SEC. 9. All dividends, that may hereafter accrue to the State upon the stock owned by the State in said Rail Road Company, or so much thereof as may be necessary for that purpose, shall be applied exclusively to the payment of the interest on the bonds of the State authorized by this act. SEC. 10. No discrimination shall be made by the Wilmington, Charlotte and Rutherford Rail Road Company in rates of charges for the carrying of passengers or freights over any part of said Road, but the rates charged for freights and travel between either terminus and any intermediate point, shall be the same per mile as the rates charged for travel or for like classes and qualities of freights over the whole line of said Road: Provided, That the said Company, in addition to the rates per mile charged for the carrying of passengers and freights over the whole line of said Road may, for the carrying of passengers and for freights of like classes and qualities between intermediate. Rates of freight points, and between either terminus and any intermediate point, charge the following and no other: For any distance under twenty-five miles, not exceeding fifty per cent.; for any distance over twenty-five and not exceeding fifty miles, not exceeding forty per cent.; for any distance over fifty between intermediate points. Persons injured may sue, &c., and not exceeding one hundred miles, not exceeding thirty per cent.; for any distance over one hundred and not exceeding two hundred miles, not exceeding twenty per cent; and for any distance over two hundred miles, not exceeding ten per cent. And if any officer or agent of said Company shall violate the provisions of this section, any person injured or suffering loss thereby may sue the Company, or such officer or agent, in any Court having jurisdiction of the cause, and recover his actual damages and costs, and in addition thereto shall recover the sum of fifty dollars as liquidation and settled damages. SEC. 11. Nothing in the foregoing section shall operate Local rates not to prevent said Company from arranging local rates for any distance under twenty-five miles. SEC. 12. That the Directors in this Company shall have power to receive subscriptions to stock in said Company in lands, moneys, bonds, stocks or any other property. And in case land be subscribed as stock, the Directors may provide the mode in which the value of the same may be ascertained and conveyance thereof executed. prevented. Directors to receive subscriptions. SEC. 13. That any laws or clauses of laws conflicting Repealing clause. with or repugnant to this act are hereby repealed. SEC. 14. That this act shall be in force and take effect from and after its ratification. Ratified the 29th day of January, A. D. 1869. AN ACT TO INCORPORATE THE UNIVERSITY RAIL ROAD COMPANY. same as N. C. R. R. SECTION 1. The General Assembly of North Carolina do Corporate powers enact, That there shall be a body politic and corporate Company, known as the University Rail Road Company, with corpo Board of Directors Directors to appoint officers. Coupon bonds to be issued. rate powers and franchises to the same extent as are possessed by the North Carolina Rail Road Company. SEC. 2. The said University Rail Road Company shall build a Rail Road, with one or more tracks, from some point on the North Carolina Rail Road between Durham's and Hillsboro', or from either of those points to the village of Chapel Hill, the seat of the University of the State. SEC. 3. The affairs of said University Rail Road Company shall be managed by a Board of five Directors, to be appointed by the Governor of the State, which Board shall, out of their number, choose a President, and said Board shall serve for twelve months and until their snccessors are qualified. SEC. 4. The Board of Directors shall have power to appoint such officers as they may deem necessary, and prescribe their duties, term of service, and compensation. They shall likewise fix the salary of the President, which shall be subject to approval by the Governor. SEC. 5. To secure the completion of said Road, coupon bonds of the State are hereby authorized to be issued and delivered by the Treasurer of the State to the President of said Company to the amount of three hundred thousand dollars, for which he shall give to said Treasurer a certificate of stock in said Road to said amount of three hundred thousand dollars. The said bonds shall be of the denomination of one thousand dollars each, shall be dated January first, eighteen hundred and sixty-nine, and shall become due January first, eighteen hundred and ninety-nine, shall bear interest at the rate of six per centum per annum, payBy whom signed. able semi-annually, shall be signed by the Governor, countersigned by the Treasurer, shall be sealed with the great Interest payable seal of the State, and principal and interest shall be payable in the City of New York. in New York. Contracts, how let. SEC. 6. The said Rail Road shall be let to contract on such terms as the Directors may deem best, and the Directors shall have power to make contracts with the North Carolina Rail Road Company for the use of its rolling stock, and running the Road upon such terms as may be agreed upon. SEC. 7. For the purpose of raising the necessary funds to pay the interest on said bonds as the same may become due, there shall be, until the maturity of said bonds, issued as aforesaid, levied and collected an annual tax of one hundredth of one per cent. on all the real and personal property of the State, subject to be collected and paid into the Treasury in like manner with other taxes. SEC. 9. This act shall be in force from its ratification. Interest provided for. AN ACT AMENDATORY OF, AND SUPPLEMENTAL TO, AN ACT SECTION 1. The General Assembly of North Carolina Amendment. do enact, That the sixteenth section of an act amendatory of the act to incorporate the Western North Carolina Rail Road Company, ratified the fifteenth day of February, eighteen hundred and fifty-five, and of all other acts amendatory thereof, passed at the present session of the General Assembly, and ratified on the twenty-ninth day of January, eighteen hundred and sixty-nine, be so altered and amended as to make the said act go into effect from and after its ratification, instead of after its acceptance by the private stockholders. Conflicting parts of 18th section repealed. SEC. 2. That so much of the eighteenth section of the above recited act as comes in conflict with this act, or is repugnant thereto, be, and the same is hereby repealed. SEC. 3. This act shall be in force from and after its ratification. Ratified the 30th day of January, A. D. 1869. AN ACT TO PREVENT THE FELLING OF TIMBER R OTHERWISE Unlawful to ob Rock Fish. SECTION 1. The General Assembly of North Carolina struct the waters of do enact, That it shall be unlawful for any person to fell timber, or build fish hedges, or otherwise obstruct the waters of Rock Fish Creek, the dividing line between the Counties of New Hanover and Duplin, from the junction of said Creek with the northeast branch of the Cape Fear River to Samuel A. Williams'. Penalty. Indictable in either Court. SEC. 2. That any person violating the foregoing section shall be guilty of a misdemeanor, and shall be liable to indictment for the same, and on conviction shall be fined not less than twenty-five dollars or be imprisoned not less than three months, or both, at the discretion of the Court. SEC. 3. Any person violating section one of this act may be indictable in the Courts of either New Hanover or Duplin Counties, either of which are hereby declared to have jurisdiction. SEC. 4. That this act shall be in force from and after its ratification. Ratified the 30th day of January, A. D. 1869. |