« AnteriorContinuar »
A. D. 1892.
SEC. 6. That any lease, transfer or consolidation of the company hereby incorporated shall be submitted to a meeting of the stockholders, and be ratified by three-fourths of said stockholders, leases, &c. before the same shall be legal or binding.
SEC. 7. That the said company shall have power, if need be, to conduct their railroads across and over any public road, river or creek, water or water courses that may be in their route : Provided, That the passage of the roads or the navigation of the waters be not obstructed thereby.
SEC. 8. That the said railroad company be, and they are hereby, authorized and empowered, by and with the consent of the Council of any towns or cities through which they may pass, or at which their road may terminate, to construct their tracks through one or more of the public streets or ways of such towns or cities: Provided, That in such construction and extension all necessary precaution in extending the work be taken not to obstruct or otherwise impair the use of any street or public highway through which the said railroad may be constructed or extended.
May cross highways, &c.
Use of streets.
Operation of completed sec
SEC. 9. That the said railroad company is further authorized and empowered, forthwith upon the completion or acquirement tions. by purchase, lease or consolidation, as herein before provided, of any portion or section of said railroad between any points through which the same may be run under this charter, to operate and maintain such portion or section with all the rights, powers and privileges hereby granted to said company.
SEC. 10. The said railroad company may have the right to Rights of way. condemn for its right of way fifty feet on each side of the centre of their roadbed.
SEC. 11. That if any stockholder shall fail to pay the installment required of him on his share or shares by the President and Directors, or a majority of them, within one month after the call for the same has been made and advertised in one or more of the papers published in this State, it shall and may be lawful for the President and Directors, or a majority of them, to sell at public sale of shares. auction and convey to the purchasers the share or shares of such stockholders so failing or refusing to pay, giving twenty days' notice of the time and place of such sale, and, after retaining the sums due and all expenses incident to the sale, shall pay the surplus to the former owner or his legal representative; and any purchaser of the stock of the company, under the sale of the President and Directors as aforesaid, shall be subject to the same rules and regulations as the original proprietor.
A. D. 1892.
Time for construction limit
SEC. 12. That this Act shall be held and deemed a public Act, and the rights, powers and privileges conferred by this Act shall vest and continue in the said company and their successors for and during the period of fifty years or until repealed, to be computed from the time of the approval of this Act.
SEC. 13. It is hereby provided that the said road shall be completed for at least ten miles of its length from Monck's Corner within two years after the passage of this Act, and the balance thereof as soon after as practicable, or this charter, or so much thereof as shall not be completed within five years of its date, shall then become forfeited.
Approved December 24th, A. D. 1892.
No. 76. AN ACT TO AMEND SECTION 2 OF AN ACT ENTITLED "AN ACT TO INCORPORATE THE CATAWBA FALLS RAILROAD COMPANY," APPROVED DECEMBER 11TH, 1891, SO AS TO PROVIDE FOR AN EXTENSION TO COLUMBIA, SOUTH CARO
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitting in General Assembly, and by the authority of the same, That A. A. 1891, 82, Section 2 of an Act entitled "An Act to incorporate the Catawba Falls Railroad Company," approved December 11th, A. D. 1891, be amended so as to read as follows:
20 Stat., 1148, amended.
Route of railroad.
SECTION 2. That the said company shall have power and authority to build, construct and operate a railroad, beginning at the North Carolina line, thence down Catawba River to Catawba Falls, or as near as may be deemed expedient, thence by the most practicable route to Winnsboro, S. C., and thence by the most Property rights. practicable route to Columbia, S. C.; to acquire by purchase or otherwise, and to hold, own, possess and sell, or otherwise transOther powers. fer, real and personal estate; to sue and be sued, implead and be impleaded, and to have and exercise all and every other power, authority, privilege and right common or necessary to similar corporations, not inconsistent with the laws of this State or the provisions of this Act.
Approved December 24th, A. D. 1892.
AN ACT TO EXTEND THE TIME WITHIN WHICH THE "GLENN
Whereas by an Act entitled "An Act to amend an Act entitled 'An Act to incorporate the Glenn Springs Railroad Company,' approved December 26th, 1884, and Acts amending the same, and an Act to validate and confirm certain acts of said company, approved December 23d, 1891, it is provided that the construction of said railroad shall be commenced on or before first of January, 1893, and completed on or before January 1, 1896, and that the present organization of said company be continued for one year from the approval of said Act; now, therefore,
A. D. 1892.
20 Stat., 1169.
Time for construction ex
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitting in General Assembly, and by the authority of the same, That the time within which the "Glenn Springs Railroad Company" is required to commence and complete the construction of said tended. railroad shall be so far extended as to allow the construction of said railroad to be commenced on or before January 1st, 1895, and completed within three years thereafter.
SEC. 2. That the present officers of said company may continue to discharge the duties of their respective offices until their successors are elected by the stockholders of said company at a meeting to be held within one year from the approval of this Act, notice of which meeting shall be published for thirty days in one Notice of meetor more papers published in the city of Spartanburg, whose term of office shall be for one year and until their successors are elected; and all the official acts of the present officers of said company, not inconsistent with the laws of this State, and of said Act of Acts confirmed. December 24th, 1884, and Acts amendatory thereof, are hereby declared to be legal and valid.
SEC. 3. The extension herein granted is upon the express provision that no bond of any township which shall be issued under the provisions of the said Act of December 24th, 1884, and Acts amendatory thereof, shall be issued and used for the purpose of aiding in the construction of said railroad in any township other than that for which said bond was issued, and only after the grading of such railroad has reached such township.
Term of office.
Proviso as to township bonds.
When to take
SEC. 4. This Act shall take effect immediately upon its ap- effect."
proval. That all Acts or parts of Acts inconsistent with the provisions of this Act are hereby repealed.
Approved December 19th, A. D. 1892.
20 Stat., 405, amended.
AN ACT TO AMEND AN ACT ENTITLED "AN ACT TO CHARTER
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitting in General Assembly, and by the authority of the same, That an A. A. 1889, 811, Act entitled "An Act to charter the Chesterfield and Kershaw Railroad Company," approved December 24th, A. D. 1889, be, and the same is hereby, amended by striking out all of, Section eleven (11) in said Act, and inserting in lieu thereof the following, so that when amended said Section shall read as follows:
Section as amended.
SECTION 11. In case the majority of the ballots cast shall have Subscriptions written or printed thereon "Subscription," then the Chairman to be made by of the Board of County Commissioners in all cases of County elections shall be authorized and required to subscribe to the capital stock of said company, in behalf of said County, the sum which may have been fixed and named in the resolution of said Board, published as aforesaid, which subscriptions shall be made in six per cent. coupon bonds as aforesaid, with interest thereon payable annually; and if a majority of the ballots cast in any Subscriptions city or town election shall be for subscription, the proper corporate authorities of such city or town are authorized and required to subscribe in behalf of such city or town in like manner and to the like extent as the County Commissioners are required herein Bonds to be in case of County subscriptions: Provided, however, That the until road is bonds representing the subscription of any County, city or town shall be issued and placed in escrow in such bank or trust company as the County Commissioners or city or town authorities issuing the same may select; the said bonds to be held in trust
put in escrow
A. D. 1892.
Past due cou
pons to be de
by such bank or trust company and to be delivered by such bank or trust company to the corporate authorities of the said Chesterfield and Kershaw Railroad Company as herein provided: Pro-character of vided, That said railroad company shall build said railroad with iron or steel rails in first class style; and upon such building and completion of every section of five miles of said railroad in the style and manner aforesaid, within the County of Chesterfield, then said bank or trust company shall deliver to said railroad Delivery of company such proportion of the whole of the bonds subscribed by said County as five miles bears to the whole number of miles traversed by said railroad in said County: Provided, further, That said bank or trust company shall before such delivery detach and destroy all interest coupons then past due, said bonds to be tached. delivered in exchange for the stock of said company at par as aforesaid: Provided, further, That in case of the subscription of bonds to the capital stock of said railroad company by any other County or by any town or city under the provisions of this same provisAct. the foregoing provisions in this Section as to the delivery of Counties. bonds subscribed and to be subscribed by Chesterfield County shall apply and be observed: Provided, further, That such railroad company shall have power, and they are hereby authorized, to construct a branch railroad from any point on said railroad line in Chesterfield County to the town of Sumter in Sumter County, but no portion of the subscription herein provided for the County of Chesterfield shall be used in the construction of said branch railroad.
Approved December 24th, A. D. 1892.
ions as to other
Branch to Sumter.
AN ACT TO INCORPORATE THE EDISTO ISLAND RAILROAD
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of South Carolina, now met and sitting in
General Assembly, and by the authority of the same, That C. S. Incorporation. Gadsden, E. P. McSwiney, E. Mikell Whaley, Swinton Whaley, Daniel T. Pope, Julian Mitchell. H. A. M. Smith, Townsend Mikell, M. M. Seabrook, and W. L. Beckett, and such other persons as they may associate with them, and their successors, be, and they are hereby, created a body politic and incorporate.