SECTION 1. Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That at any time after the passage of this act, the President and Directors of the Raleigh and Gaston Railroad Company may make their bonds payable to the Public Treasurer of the State of North Carolina for the sum of five hundred thousand dollars and no more, which said bonds are to be signed by the President and under the seal of the corporation, and made for any sum or sums not under one thousand dollars each, and to carry interest at the rate of six per cent. per annum, which interest is to be paid semi-annually, to-wit: On the first Monday in July and on the first Monday in January in each and every year thereafter, and the amount of said bonds to be made payable on the first of January, one thousand eight hundred and sixty, at such place as the President and Directors of said Company and the parties may agree upon.

SEC. 2. Be it further enacted, That upon the President making the bonds as aforesaid, and filing the same with the Public Treasurer of the State, it shall be his duty, and he is hereby directed to endorse on the said bonds as follows: Pay to ——, or order, and this endorsement pledges the State of North Carolina as security for the payment of the sum in the bond, according to the provisions of the act of the General Assembly of of eighteen hundred and thirty-eight and eighteen hundred and thirty-nine, entitled “An Act for the relief of the Raleigh and Gaston Railroad Company,” which endorsement is to be signed by the Public Treasurer in his official capacity and countersigned by the Comptroller. The Public Treasurer, after endorsing the bonds as before mentioned, shall duly number and register them at large in a book prepared and kept for that purpose.

SEC. 3. Be it further enacted, That it shall be the duty of the Public Treasurer, on the endorsement being made as before directed, and the bonds being numbered and registered, and the mortgage, as hereinafter directed, being made and delivered to the Governor, to deliver the same to the President and Directors of said Company, and they are at liberty to fill up the blank in said endorsement with the name or names of the person or persons, or company, or corporation, to whom the same may be sold or transferred, and when so filled up, shall be as binding on the State of North Carolina as if the same was done by the Public Treasurer at the time of making the endorsement as aforesaid.

SEC. 4. Be it further enacted, That the President and Directors, from time to time, as they shall sell or transfer the said bonds and fill up the blank, with the name or names of the person, company or corporation to whom they are sold or transferred, shall cause a statement to be filed with the Public Treasurer, setting forth the time of the transfer or sale, the person, company or corporation to whom payable, to be by him registered in the book to be kept for the registration of the bonds aforesaid.

SEC. 5. Be it further enacted, That for the payment of the interest semi-annually, at the rate of six per centum per annum on the principal debt due on the bonds hereby authorized to be made, the credit and faith of the State is pledged to the holders of said bonds, and on failure of the President and Directors to pay the principal and interest as it accrues, the Public Treasurer is authorized to pay the same out of any money in the Treasury at the time. For the full and entire payment and redemption of said principal, the General Assembly do hereby guarantee the principal due on the bonds authorized by this act to be created.

SEC. 7. Be it further enacted, That the debt hereby created shall not be redeemable until after the first day of January one thousand eight hundred and sixty, and after that day the same shall and may be redeemed at such time or times and in such proportions as may hereafter be declared and appointed by law.

SEC. 8. Be it further enacted, That whenever the President and Directors of the Raleigh and Gaston Railroad Company shall make, execute and and deliver to the Governor of this State for and in behalf of the State, a deed of mortgage under the seal of said Company wherein and whereby shall be conveyed to the said Governor and his successors in office, for the use and benefit of the State, all the estate, real and personal, belonging to the said Raleigh and Gaston Railroad Company, or in any manner pertaining to the same, conditioned for indemnifying and saving harmless the State of North Carolina from the payment of the whole or any part of the bonds hereby authorized to be made and issued by the President and Directors of the Raleigh and Gaston Railroad Company and endorsed by the Public Treasurer, also make, execute and deliver, under the seal of said Company, to the Governor, for the use and benefit of the State, a pledge of so much of the profits of said Company as shall be sufficient to pay semi-annually the interest which may accrue on said bonds until the final payment and redemption of the principal of said bonds; which said deed of mortgage and pledge shall be approved by the Attorney General of the State; then it shall be the duty of the Public Treasurer, and he is hereby required to deliver to the President and Directors of the Raleigh and Gaston Railroad Company, the whole of said bonds, which by this act he is authorized and required to endorse, taking therefor the receipt of the President of said Raleigh and Gaston Railroad Company.

SEC. 9. Be it further enacted, That in case of failure by the President and Drectors of the said Raleigh and Gaston Railroad Company, to pay and discharge semi-annually the interest which may accrue on the bonds hereby authorized to be made and executed, it shall be lawful for the Governor of this State for the time being to apply in behalf of the State to the Superior Court of Equity for the county of Wake for a sequestration of the receipts for transportation on said road, and for the appointment of a Receiver or Receivers of the said receipts; which Court, on the proof of the failure to pay such interest by the President and Directors of said Railroad Company, shall have power to order such sequestration and appoint a Receiver or Receivers accordingly; and in case of such sequestration, and the appointment of a Receiver or Receivers of the profits for transportation on said road, it shall be the duty of such Receiver or Receivers to apply so much thereof as shall be sufficient to pay the interest on said bonds semi-annually, and to pay the excess to the President and Directors of said Raleigh and Gaston Railroad Company.

SEC. 10. Be it further enacted, That from and after the commencement of the year one thousand eight hundred and sixty, it shall be the duty of the President and Directors of the Raleigh and Gaston Railroad Company, to pay and redeem the principal of the bonds hereby authorized to be issued by the President and Directors of said Raleigh and Gaston Railroad Company, and endorsed by the Public Treasurer, and delivered by him to the said Raleigh and Gaston Railroad Company, at such times and in such amounts, annually, as may be prescribed and directed by act of the General Assembly of this State, and in case of failure of the President and Directors of the said Raleigh and Gaston Railroad Company, to pay off and redeem the principal of the said bonds, at such times and in such amounts as may be prescribed and directed by act of the General Assembly, then it shall be the duty of the Governor of this State, for the time being, to cause the mortgage made and executed by the President and Directors of the said Raleigh and Gaston Railroad Company to be foreclosed in the Superior Court of Equity for Wake county, which Court is hereby authorized and empowered to take jurisdiction of the same, and on the decree of foreclosure being made by said Court, it shall be the further duty of the Governor of the State, to cause the whole estate, real and personal, so conveyed by mortgage, to be sold at such time and in such ways as shall most effectually protect and save harmless the State against any loss or damage, by reason of its liability for the payment of said bonds, or any part thereof, and out of the proceeds of such sale or sales to pay off and redeem the whole amount of principal of said bonds and to pay the excess to the President and Directors of said Company.

SEC. 11. Be it further enacted, That the State may at any time within seven years after the completion of said Raleigh and Gaston Railroad, take five thousand shares of the stock of said road, or any less number of shares of the stock; and if the State shall elect to take five thousand shares of stock, the said five thousand shares shall be a full equivalent for the liability of the State for the principal of said bonds, and on electing to take the said five thousand shares, the mortgage of the real and personal estate of the said Company to secure the payment of the principal of said bonds and the pledge of the profits of the said road, for securing the payment of interest as herein provided for, shall cease, determine and become of no force and effect, and thereafter the State shall be liable for the payment of the principal of said bonds, and the interest accruing thereon. And if the State shall elect to take any number of shares less than five thousand, such number of shares shall be an equivalent for the liability of the State for the principal of so much of the money due on said bonds as is equal in value to the shares taken by the State, estimating each share at one hundred dollars: Provided, That on electing to take such number of shares, the State shall refund to the President and Directors of said Company, the full amount of interest which they may have paid on said shares so taken by the State; and the mortgage of the real and personal estate of said Company, to secure the payment of the principal of said bonds, and the pledge of the profits of the said Railroad for securing the payment of interest as herein provided for, shall stand as securities to the State for the payment of the principal of so much of said bonds as shall be left, after deducting the number of shares taken by the State, each share being estimated at one hundred dollars, and for the payment of interest accruing on said residue of the principal.

SEC. 12. Be it further enacted, That the stockholders in said Raleigh and Gaston Railroad Company shall have power, and they are hereby authorized if they deem it necessary, to increase the capital stock of said Company to one million five hundred thousand dollars, by adding thereto such number of shares as shall not in the whole exceed fifteen thousand shares, which additional shares shall be taken and held to be a part of the capital stock of the said Raleigh and Gaston Railroad Company, as fully as if the same had been originally subscribed therein.

SEC. 13. Be it further enacted, That if by reason of any loans of money obtained in Europe or elsewhere, on the credit of said Company, the amount of bonds hereby authorized to be issued, shall be found more than sufficient to complete the said Raleigh and Gaston Railroad, then and in that case it shall and is hereby made the duty of the said Company to surrender and deliver up to the Public Treasurer such amount of the said bonds as may be found to be unnecessary as aforesaid, to the completion of the said road and that all monies borrowed by the said Company shall be faithfully applied to the said road, and to no other purpose whatever.

SEC. 14. Be it further enacted, That in case the real and personal estate of the said Raleigh and Gaston Railroad Company, so mortgaged for the benefit and indemnity of the State of North Carolina and to be sold (if necessary) as by this act directed, should prove insufficient to pay off and satisfy the full amount of the bonds aforesaid, including the principal and interest thereon, then each and every stockholder of said Raleigh and Gaston Railroad Company shall be held liable to pay towards making up such deficiency, the full amount of the shares respectively held and owned by him or her therein, at the time when said deficiency shall be ascertained, or such ratable proportion thereof as may be requisite to pay such stockholder's deficiency, and no more: Provided, That the General Assembly may at any time appoint a committee to examine into the situation of the said Company, and that whenever it shall appear that the said Company are insolvent and unable to pay the amount borrowed under the authortty of this act the General Assembly may direct the mortgage to be foreclosed, according to the provisions heretofore prescribed.

SEC. 15. And be it further enacted, That this act shall be in force from and after the ratification thereof.

[Ratified the 7th day of January, A. D. 1839.]

SECTION 1. Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by authority of the same, That it shall be lawful to open books in the city of Raleigh, under the direction of George W. Mordecai, William Boylan, Thomas P. Devereux, Duncan Cameron, William H. Haywood, Jr., Charles Manly, R. Smith and Alfred Jones, or any three of them; at Warrenton, under the direction of Weldon N. Edwards, Joseph W. Hawkins, Thomas White, Geo. D. Baskerville, Peter R. Davis, and William Plummer, or any three of them; at Weldon, under the direction of Andrew Joyner, Thomas S. Wyatt, Whitmel H. Hardie, James Simmons and William H. Day, or any three of them; at Halifax, under the direction of James Halliday, Jesse H. Simmons, Michael Ferrill, A. A. Austin, Redding J. Hawkins, and Joseph L. Simmons, or any three of them; and at such other places, and under the direction of such other persons as any three of the Commissioners hereinbefore named to superintend the receiving of subscriptions shall direct, for the purpose of raising subscriptions to an amount not exceeding two hundred thousand dollars, in shares of one hundred dollars each, for the purpose of effecting a communication by a railroad from some point on the Raleigh and Gaston Railroad, between Littleton and the Roanoke River and the termination of the Portsmouth Railroad at Weldon, and for providing everything necessary and convenient for the purpose of transportation on the same.

SEC. 2. The times and places for receiving subscriptions, shall be advertised in one or more newspapers published in the city of Raleigh, and the books for receiving the same shall not be closed in less than ten days; and if it shall appear that more than two thousand shares of the capital stock aforesaid shall have been subscribed for within the said ten days, it shall be the duty of the said commissioners at Raleigh, or any five of them, to reduce the number of shares subscribed for among the subscribers, in fair and equal proportions to the amount of stock subscribed for respectively by each until the whole amount of shares shall be reduced to two thousand, but if the whole amount shall not be subscribed for within ten days from the time the books shall be opened to receive subscriptions, then the books may be closed or continued open, or closed and re-opened without further notice as a majority of the above mentioned commissioners may judge to be most expedient until the whole number of shares shall be subscribed for.

SEC. 3. When one thousand shares shall be subscribed for, in manner aforesaid, the subscribers, their executors, administrators or assigns, shall be and they are hereby declared to be incorporated into a company by the name and style of the Weldon Railroad Company, and by that name shall be capable in law of purchasing, holding, selling, leasing and conveying estates, personal and mixed, so far as shall be necessary for the purposes hereinafter mentioned, and no further, and shall have perpetual succession, and by said corporate name, may sue and be sued and may have and use a common seal which they shall have power to alter or renew at pleasure, and shall have and enjoy, and may exercise all the powers, rights and privileges which other corporate bodies may lawfully do for the purposes mentioned in this act, and may make all such by-laws, rules and regulations, not inconsistent with the laws of this State or the United States, as shall be necessary for the well ordering and conducting the affairs of the Company. Upon any subscription of stocks as aforesaid, there shall be paid at the time of subscribing to the said commissioners or their agents appointed to receive such subscriptions, the sum of two dollars on every share subscribed, and the residue thereof shall be paid in such instalments and at such times as may be required by the President and Directors of said Company.

SEC. 4. The said commissioners or their agents shall forthwith, after the first election of President and Directors of the Company, pay over to the said President and Directors all moneys received by them, and on failure thereof, the said President and Directors may recover the amount due from them or from any one of them by motion, on ten days previous notice in the Court of Pleas and Quarter Sessions, or the Superior Court of law in any county wherein such commissioner or commissioners, their executors or administrators may reside or by warrant before a Justice of the Peace of said county.

SEC. 5. When one hundred thousand dollars or more of the stock shall have been subscribed, public notice of that event shall be given by any three or more of the said commissioners, who shall have power at the same time to call a general meeting of the subscribers, at such convenient place and time as they shall name in said notice.

SEC. 6. To constitute any such meeting, a number of persons entitled to a majority of all the votes which could be given upon all the shares subscribed shall be present either in person or by proxy; and if a sufficient number to constitute a meeting do not attend on that day, those who attend shall have power to adjourn from time to time, until a meeting shall be formed.

SEC. 7. The subscribers at their general meeting before directed, and the proprietors of stock at every annual meeting thereafter, shall elect a President and five Directors, who shall continue in office, unless sooner removed, until the next annual meeting after their election, and until their successors shall be elected, but the said President and Directors, or any of them, may at any time be removed and the vacancy thereby occasioned be filled by a majority of the votes given at any general meeting. The President, with any two or more of the Directors, or in the event of the sickness, absence or disability of the President, any three or more of the Directors who shall appoint one of their own body President pro tem., shall constitute a board for the transaction of business; in case of vacancy in the office of President, or any Director, happening from death, resignation, removal or disability, such vacancy may be supplied by the appointment of the board, until the next annual meeting.

SEC. 8. The President and Directors of said Company shall be and they are hereby invested with all the rights and powers necessary for the construction, repair and maintaining of a Railroad, to be located as aforesaid, with as many sets of tracks as they or a majority of them may deem necessary, and may cause to be made, and also to make and construct all works whatsoever, which may be necessary and expedient in order to the proper completion of the said railroad.

SEC. 9. The President and Directors shall have power to make contracts with any person or persons on behalf of the Company, for making the said railroad and performing all other works respecting the same, which they shall judge necessary and proper, and to require from the subscribers, from time to time, such advances of money on their respective shares as the wants of the Company may demand, until the whole of their subscriptions shall be advanced; to call, on any emergency, a general meeting of the subscribers, giving one month's notice thereof in one of the newspapers printed in the city of Raleigh, to appoint a treasurer, clerk, and such other officers as they may require, and to transact all the business of the Company during the intervals between the general meetings of the stockholders.

SEC. 11. Be it further enacted, That if the capital stock of the Company hereby incorporated, shall be found insufficient for the purpose of this act; it shall and may be lawful for the President and Directors of the said Company, or a majority of them, from time to time, to increase the said capital stock to an amount not exceeding two hundred and fifty thousand dollars, by the addition of as many shares as they may deem necessary, first giving the individual stockholders, for the time being or their legal representatives, the option of taking such additional shares, in proportion to the amount of stock respectively held by them, and opening books in the city of Raleigh, and such other places as the President and Directors may think proper, for any balance of the capital stock created which may not be taken by said stockholders for the time being, or in their behalf; and the subscribers for such additional shares of the capital stock in the said Company are hereby declared to be thence-forward incorporated into the said Company with all the privileges and advantages and subject to all the liabilities of the original stockholders.

SEC. 12. Be it further enacted, That the President and Directors, or a majority of them, shall have power to borrow money for the objects of this act, to issue certificates or other evidences of such loans, and make the same convertible into the stock of the Company, at the pleasure of the holder, provided that the capital shall not thereby be increased to an amount exceeding two hundred and fifty thousand dollars, and to pledge the property of the Company for the payment of the same, with its interest, provided that no certificate of loan convertible into stock, or creating any lien or mortgage on the property of the Company, shall be issued by the President and Directors, unless the expediency of making a loan on such terms and of issuing such certificates shall have first been determined on at a general meeting of the stockholders by two-thirds of the votes which could legally be given in favor of the same.

SEC. 13. Be it further enacted, That the said President and Directors, their officers, agents and servants shall have full power and authority to enter upon all lands and tenements through which they may desire to conduct their railroad, and to lay out the same according to their pleasure so that the dwelling-house, yard, garden or curtelage of no person be invaded without his consent; and that they shall have power to enter on and lay out such contiguous lands as they may desire to occupy as sites for depots, toll houses, warehouses, engine sheds, workshops, water stations, and other buildings for the necessary accommodation of their officers, agents and servants, their horses, mules and other cattle for the protection of property entrusted to their care: Provided, That the land so laid out on the line of the railroad shall not exceed, except at deep cuts and fillings, eighty feet in width, and that the adjoining land for the sites of buildings, unless the President and Directors can agree with the owner or owners for the purchase of the same, shall not exceed one and a half acres in any one parcel. If the President and Directors cannot agree with the owner or owners of the land so entered on and laid out by them, as to the terms of purchase, it shall be lawful for them to apply to the Court of Pleas and Quarter Sessions of the county in which said land or the greater part of it may lie, and upon such application, the Court shall appoint five disinterested and impartial freeholders to assess the damages to the owner from the condemnation of the land for the purposes aforesaid. No appointment, however, shall be made, unless ten days previous notice of the application shall have been given to the owner of the land, or the guardian, if the owner be an infant or non-compos mentis, if such owner or guardian can be found within the county. Or if he cannot be so found, then such appointment shall not be made unless notice of the appointment shall have been published at least one month next preceding, in some newspaper printed as convenient as may be to the Court-house of the county, and shall have been posted at the door of the Court-house on the first day, at least of the next preceding term of said Court. A day for the meeting of the said freeholders to perform the duty assigned them, shall be designated in the order appointing them, and any one or more of them attending on that day, may adjourn from time to time until their business shall be finished. Of the five freeholders so appointed, any three or more may act, after having been duly sworn or solemnly affirmed before some Justice of the Peace, that they will impartially and justly, to the best of their ability, ascertain the damages that will be sustained by the proprietor of the land from the condemnation thereof for the use of the Company, and that they will truly certify their proceedings thereupon to the Court of said county.

SEC. 14. It shall be the duty of the said freeholders in pursuance of the order appointing them, to assemble on the land proposed to be condemned, and after viewing the same, and hearing such proper evidence as either party may offer, they shall ascertain, according to their best judgment, the damages which the proprietor of the land will sustain by the condemnation thereof for the Company. In performing this duty, they shall consider the proprietor of the lands as being the owner of the whole fee simple interest therein; they shall take into consideration the quality and the quantity of the land to be condemned, the additional fencing that will be required thereby, and all the inconvenience that will result to the proprietor from the condemnation thereof, and shall combine therewith a just regard for the advantages which the owner of the land will derive from opening the railroad through the same.

SEC. 15. When the said freeholders shall have agreed upon the amount of damages they shall forthwith make a written report of their proceedings under their hands and seals as follows: We, —— —— ——, freeholders appointed by an order of the Court of Pleas and Quarter Sessions for the purpose of ascertaining the damages that will be sustained by ——, proprietors of certain lands in said county, which the President and Directors of the Weldon Railroad Company propose to condemn for their use, do hereby certify that we met together on the land aforesaid, on the —— day of ——, the day appointed therefor by the said order, (or the day to which we were regularly adjourned from the day appointed for our meeting by said order), and that having been first duly sworn (or affirmed as the case may be) and having visited the premises, we proceeded to estimate the quantity and quality of land aforesaid, the quantity of additional fencing which would probably be occasioned by its condemnation, and all other inconveniences which would probably result therefrom to the proprietor of said land and that we combined with these considerations as far as we could, a just regard to the advantages which would be derived by the proprietor of the said land from the opening of the aforesaid railroad through the same; that under the influence of these considerations we have estimated and do hereby assess the damages aforesaid at the sum of——. Given under our hands and seals this—— day of——. At the foot of the report so made the magistrate before whom the said freeholders were sworn shall make a certificate in substance as follows: —— county. Sct. I, ——, a Justice of the Peace for the said county, do hereby certify that the above named freeholders, before they executed their duties as above certified, were solemnly sworn (or affirmed) before me that they would impartially and justly to the best of their ability ascertain the damages which would be sustained by the above named —— by the condemnation of the aforementioned land for the use of the Weldon Railroad Company, and that they would certify truly their proceedings thereon to the court of said county. Given under my hand, this —— day of ——.

SEC. 16. The report of the freeholders so made, together with the certificate of the Justice of the Peace as aforesaid shall be forthwith returned by the said freeholders to the court of the county, and unless good cause can be shown against the report, it shall be confirmed by the court and entered upon record; but if the said report should be disaffirmed, or if the said freeholders, being unable to agree, should report their disagreement, or if from any other cause they should fail to make a report within a reasonable time after their appointment the court may, in its discretion, as often as may be necessary, supersede them or any of them, appoint others in their stead, and direct another view and report to be made in the manner above prescribed.

SEC. 17. On the confirmation of any such report, and on payment or tender to the proprietor of the land, of the damage so assessed, or the payment of said damages into Court when for good cause shown, the Court shall have so ordered, the land viewed and assessed as aforesaid shall be vested in the Weldon Railroad Company, and they shall be adjudged to hold the same in fee simple in the same manner as if the proprietor had sold and conveyed it to them.

SEC. 18. While these proceedings are pending for the purpose of ascertaining the damages to the proprietor for the condemnation of his land, and even before they shall have been established, the President and Directors, if they think that the interest of the Company require it, may, by themselves, their officers, agents and servants, enter upon the lands laid out by them as aforesaid, and which they desire to condemn and apply to the use of the said Company. If, when they so take possession, proceedings to ascertain the damages as aforesaid be pending, it shall be their duty diligently to prosecute them to conclusion, and when the report of the freeholders ascertaining the damages, shall be returned and confirmed, the Court shall render judgment in favor of the proprietors of the land for the amount thereof, and either compel its payment into Court, or award process of execution for the recovery, as to them shall seem right.

SEC. 19. In the meantime no order shall be made, and no injunction shall be awarded by any Court or Judge to stay the proceedings of the Company in the prosecution of their work unless it be manifest that their officers, agents or servants, are transcending the authority given them by this act, and that the interposition of the Court is necessary to prevent injury that cannot be adequately compensated for in damages.

SEC. 20. If the President and Directors shall take possession of any land before the same shall have been purchased by them, or condemned or paid for according to the provisions of this act, and shall fail for forty days to institute proceedings for its condemnation as aforesaid, or shall not prosecute with due diligence the proceedings commenced for that purpose, it shall be lawful for the proprietor of the land, upon giving to the said President and Directors or any of them, ten days previous notice, to apply to the Court of the county in which the land or the greater part thereof shall lie, and upon such application, the Court shall appoint five disinterested and impartial freeholders to assess the damages to the owner from the condemnation of his land to the use of the Company, shall appoint a day for their meeting, to perform the duties assigned them, and shall dismiss at the cost of the Company any proceedings then depending in their behalf for the condemnation of the said land. The freeholders so appointed, any three or more of whom may act, shall proceed in the performance of their duties in all respects in the same manner as if they had been appointed by the President and Directors of the Company, and the Court shall in like manner confirm or disaffirm their report, supersede them or any of them, and appoint others in their stead, or direct another view and report to be made as often as may be necessary, and when any such report ascertaining the damages shall be confirmed the Court shall render judgment in favor of the proprietor for the damages so assessed and double costs, and shall thereupon either compel the Company to pay into Court the damages and costs so adjudged, or award process of execution therefor, as to them shall seem right.

SEC. 21. When the judgment rendered for the damages assessed and costs shall be satisfied by the payment of the money into the court, or otherwise, the title of the land for which such damages are assessed shall be vested in the Company in the same manner as if the proprietor had sold and conveyed it to them.

SEC. 22. Be it further enacted, That the written consent of any owner or proprietor of any lands, through which the said road is to be constructed, showing his or their agreement to the same, shall be valid and effectual to give the same power and authority over all land required for the construction of the road, as if the same had been conveyed by deed or bargain and sale, or condemned upon petition aforesaid.

SEC. 23. The said President and Directors, for the purpose of constructing their railroad aforesaid and the works necessarily connecting therewith, or of repairing the same after they shall have been made, or of enlarging or otherwise altering the same, shall be at liberty, by themselves, their officers, agents or servants, at any time to enter upon any adjacent lands, and to cut, quarry, dig, take and carry away therefrom any wood, stone, gravel or earth, which they may deem necessary: Provided, however, that they shall not, without the consent of the owner, cut down any fruit tree, or any tree preserved in any lot or field for shade or ornament, nor take any timber, gravel, stone, or earth, constituting any part of any fence or building. For all wood, stone, gravel or earth taken under authority of this act, for all incidental injuries done to the inclosure, crops, wood or ground, in taking and carrying away the same, the said President and Directors shall make to the owner a fair and reasonable compensation to be ascertained, if the parties cannot agree, by any three impartial and disinterested freeholders, who being appointed for that purpose by any Justice of the Peace, thereto required by the owner, shall be sworn by him, and shall then ascertain the compensation upon their own view of the wood, ground, earth or stone taken and for the injury done as aforesaid in taking them: Provided however, That it shall be the duty of the owner or owners to show to the Justice of the Peace to whom the application is made, that ten days previous notice of making the same has been given to the President, or one of the principal agents of the Railroad Company and no award which may be given under any appointment, without such notice, shall be obligatory or binding on the Company: Provided however, That either party not satisfied with the award which may be given as above, may appeal to the Court of Pleas and Quarter Sessions of the county in which the land may be situated, who may as in the case of the assessment of lands, confirm or disaffirm the report of the freeholders, supersede them or any of them, and appoint others in their stead or direct another view and report to be made as often as may be necessary.

SEC. 24. If the President and Directors, in entering upon the land of any person under the authority of this act for the purpose of laying out, constructing, enlarging, altering or repairing any of their said works, shall by themselves or their officers, do any wanton and wilful injury to such land or its appurtenances, or to the crops growing or gathered, or to any other property thereon, the Weldon Railroad Company shall pay to the person so injured, double the amount of damages which shall be assessed by a jury in any proper action therefor; or if said injury be done by any person or persons who may have contracted with the Company for the construction of any portion of the road or any part of the works connected therewith, he or they shall be responsible to the party injured in the like amount.

SEC. 25. Whenever in the construction of said railroad, it shall be necessary to cross or intersect any established road or way, it shall be the duty of the said President and Directors so to construct the said railroad across such established roads or ways as not to impede the passage or transportation of persons or property along the same, or when it shall be necessary to pass through the land of any individual, it shall also be their duty to provide for such individual a proper wagon way across said railroad from one part of his land to the other. Provided however, that in order to prevent the frequent crossing of established roads or ways, or in case it may be necessary to occupy the same, it may be lawful for the said President and Directors to change the said road to points they may deem expedient to do so and that for entering upon or taking any land that may be necessary therefor, they shall be and are hereby authorized to proceed under the provisions of this act, as in the case of land necessary for their railroad. Provided further, That previous to the making of any such change, the said company shall make and prepare a road equally good with the portion of the road proposed to be substituted, but nothing herein contained shall be so construed as to make it incumbent on the company to keep in repair the portion of any road which they may have changed as aforesaid.

SEC. 26. The said President and Directors or a majority of them, shall have power to purchase with the funds of the company, and place on the railroad constructed under this act, all machines, wagons, vehicles and carriages and teams of every description whatsover, which they may deem necessary or proper for the transportation of persons or property, or if they should deem it more expedient to do so, they may contract with any individual or individuals for effecting the transportation on the same.

SEC. 27. All machines, wagons, vehicles and carriages purchased as aforesaid with the funds of the company, or engaged in the business of transportation on said railroad and all the works of said Company constructed, or property acquired under the authority of this act, and all profits which shall accrue from the same, shall be vested in the respective stockholders of the company forever in the proportion of their respective shares and the same shall be deemed personal estate and shall be exempt from any public charge or tax whatsoever.

SEC. 28. Upon the road hereby authorized the company shall have the exclusive right of transportation. When it is completed, they shall at all times furnish and keep in good repair the necessary carriages and other requisites for the safe and convenient transportation of persons and property and it shall be their duty, at all times upon the payment or tender of the tolls hereby allowed, to transport to any depot on the road, which the owner of the goods may indicate and there to deliver all articles which shall be delivered to them for transportation, or offered to them in proper condition to be transported at said depot on the road most convenient for the reception thereof.

SEC. 29. They shall give no undue preference to the property of one person over that of another, but as far as practicable shall carry each in the order of time in which it shall be delivered or offered for transportation, with the tolls paid or tendered. If the company or any of its officers or agents shall fail to receive, transport or deliver in due time any property so offered to them for transportation, or shall faii to take up or sit down any passenger or passengers at such convenient point as he or they may desire, upon the payment or tender of the passage money hereby allowed, they shall forfeit and pay to the party so injured, double the amount of the lawful toll paid or tendered, and shall moreover be liable to an action on the case in which full damages and double costs shall be recovered.

SEC. 30. So soon as any portion of the railroad hereby authorized, may be in readiness for transportation, it shall be lawful for the said President and Directors to transport by their officers or agents or by contracts under them, persons and property on the same, and they shall have power to charge for the transportation of persons, goods, produce, merchandize and other articles and for the transportation of the mail, any sum not exceeding the following rates, viz: On persons, not exceeding eight cents a mile for each person, unless the distance which any person be transported be less than ten miles, in which case the President and Directors may be entitled to make an extra charge of fifty cents for taking up and putting down each person so transported; for the transportation of goods, produce, merchandize and other articles, not exceeding an average of twelve cents per ton per mile and for the transportation of the mail, such sums as they may agree for and the said President and Directors shall be furthermore entitled to demand and receive for the weighing, storage and delivery of produce and other commodities at their depots and warehouses, rates not exceeding the ordinary warehouse rates charged for such services.

SEC. 31. Be it further enacted, That if the said President and Directors shall deem it advisable to construct the bridge which may be necessary on the line of their railroad of sufficient width to admit of the passage of common roads as well as their railroads over the same, they may be entitled to demand and receive from all persons and for wagons, carriages and for all four and two wheeled vehicles and for beasts of burden, sheep and hogs passing the same, the tolls which may be allowed by the Court of Pleas and Quarter Sessions of the county in which the said bridge may be.

SEC. 32. As soon as ten miles of the railroad hereby authorized, shall be completed, the President and Directors shall annually or semi-annually declare and make such dividend as they may deem proper, of the nett profits arising from the resources of the said company after deducting the necessary current and probable contingent expenses of the said company and shall divide the same among the proprietors of the stock of said company in proportion to their respective shares.

SEC. 33. An annual meeting of the subscribers to the stock of said company, shall be held at such time and place in each year, as the stockholders at their first general meeting, or at any subsequent meeting, may appoint, to constitute which or any general meeting called by the President and Directors according to the provisions of this act, the presence of the proprietors entitled to a majority of all the votes which could be given by all the stockholders shall be necessary either in person or by proxy properly authorized and if a sufficient number do not attend on that day or any day appointed for a general meeting called by the Directors aforesaid, the proprietors who do attend may adjourn from time to time until such general meeting shall be had.

SEC. 34. In counting all the votes of the said company each member shall be allowed one vote for each share not exceeding two shares. One vote for every two shares above two and not exceeding ten; and one vote for every five shares above ten by him held at the time in the stock of the company Provided however, That no stockholder whether an individual, body politic or corporate, shall be entitled to more than sixty votes on any amount of the capital stock of said company held by him or them.

SEC. 35. The President and Directors shall render distinct accounts of their proceedings and disbursements of money to the annual meeting of the stockholders.

SEC. 36. The works hereby required of the Weldon Railroad Company, shall be executed with diligence, and if they be not commenced within three years after the passage of this act and finished within ten years after the first general meeting of the stockholders, then this charter shall be forfeited.

SEC. 37. The President and Directors shall cause to be written or printed certificates of the shares of the stock in the said company and shall deliver one such certificate signed by the President and countersigned by the Treasurer, to each person for the number of shares subscribed by him which certificate shall be transferable by him, subject however to all payments due or to become due thereon and such assignee having first caused the transfer or assignment to be entered in a book of the company to be kept for the purpose, shall thenceforth become a member of the company aforesaid and shall be liable to pay all sums due, or to become due, upon the stock assigned him: Provided however, That such assignment shall in no wise exempt the assignor or his representative from their liability to the said company for their payment of all such sums, if the assignee or his representative shalll be unable or fail to pay the same.

SEC. 38. If any person or persons shall wilfully, by any means whatever, impede or hinder the construction or injure, impair or destroy any part of the railroad to be constructed under this act, or any of the necessary works, machines, wagons, vehicles, carriages or other property belonging to the said company, or shall place any obstruction on said road, such person or persons shall be deemed