Charter And By-Laws of the North Carolina Rail Road Company, With the Proceedings of the First Meeting of Stockholders At Salisbury, N.C., July 11, 12, 1850
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Carter, and Lemuel Bingham, or any three of them ; at Salem, under the direction of Francis Fries, John A^ogler, Thomas J. Wilson, John J^lackbourn, or any three of them ; Avhose duty it shall be to di- rect the opening of Books for subscription of Stock, at such times and places, and under the direction of such persons as they, or a majority of tliem, may deem proper ; and the said Commissioners shall have power to appoint a C'hairman of their body. Treasurer, and all other Officers, and to su...e for and recover all sums of money that ought, under this act, t.) be received by them.
Sec. 4. That all persons who may hereafter be authorized to open pjooks for subscription of Stock by the Commissioners herein appointed for that purpose, shall open said Books at any time after the ratification of this Act, twenty days previous notice being given in some one or more of the public newspapers in this State ; and that said Books, Avhen opened, shall be kept open for the space of thirty days at least, and as long thereafter as the Commissioners first aboved named shall direct ; and that all subscription of Stock shall be in shares of one hun- dred dollars, 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 ; and in case of feilure to ]:ay said sum, all such subscriptions shall be void and of no effect ; and 7 upon closing the Books, all such sums as shall have been thus received of subscribers on the fii-st cash instalment, shall be pmd over to the Gen- eral Commissioners named in the third section of this Act, by the per- sons receiving them ; and for failure thereof such person or persons shall be personally liable to said General Commissioners before the organiza- tion of said Company and to the Company itself after its organization, to be recovered in the Superior Court of Law within this State, in the County where such delinquent resides, or if he reside in any other State, then in any Court in such State having competent jurisdiction ; Tlie said General Commissioners shall have ])Ower to call on and require all persons empowered to receive subscriptions of Stock at any time and from time to time, as a majority of them may think proper, to make a return of the Stock by them respectively received, and to make payment of all sums of money made by the subscribers, that all persons receiving subscriptions of Stock shall pass a receipt to the subscriber or subscri- bers for the paj-ment of the first instalment, as heretofore required to be paid ; and upon their settlement with the General Commissioners, as aforesaid, it shall be the duty of the said General Commissioners in like manner to pass their receipt for all sums thus received, to the persons from whom received ; and such receipts shall be taken and held to be good and sufficient vouchers to the persons holding them : That sub- scriptions of Stock thus received to an amount not exceeding Sec.
What to read after Charter And By-Laws of the North Carolina Rail Road Company, With the Proceedings of the First Meeting of Stockholders At Salisbury, N.C., July 11, 12, 1850?
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To quickly assess the difficulty of the text, read a short excerpt:
Carter, and Lemuel Bingham, or any three of them ; at Salem, under the direction of Francis Fries, John A^ogler, Thomas J. Wilson, John J^lackbourn, or any three of them ; Avhose duty it shall be to di- rect the opening of Books for subscription of Stock, at such times and places, and under the direction of such persons as they, or a majority of tliem, may deem proper ; and the said Commissioners shall have power to appoint a C'hairman of their body. Treasurer, and all other Officers, and to su...e for and recover all sums of money that ought, under this act, t.) be received by them.
Sec. 4. That all persons who may hereafter be authorized to open pjooks for subscription of Stock by the Commissioners herein appointed for that purpose, shall open said Books at any time after the ratification of this Act, twenty days previous notice being given in some one or more of the public newspapers in this State ; and that said Books, Avhen opened, shall be kept open for the space of thirty days at least, and as long thereafter as the Commissioners first aboved named shall direct ; and that all subscription of Stock shall be in shares of one hun- dred dollars, 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 ; and in case of feilure to ]:ay said sum, all such subscriptions shall be void and of no effect ; and 7 upon closing the Books, all such sums as shall have been thus received of subscribers on the fii-st cash instalment, shall be pmd over to the Gen- eral Commissioners named in the third section of this Act, by the per- sons receiving them ; and for failure thereof such person or persons shall be personally liable to said General Commissioners before the organiza- tion of said Company and to the Company itself after its organization, to be recovered in the Superior Court of Law within this State, in the County where such delinquent resides, or if he reside in any other State, then in any Court in such State having competent jurisdiction ; Tlie said General Commissioners shall have ])Ower to call on and require all persons empowered to receive subscriptions of Stock at any time and from time to time, as a majority of them may think proper, to make a return of the Stock by them respectively received, and to make payment of all sums of money made by the subscribers, that all persons receiving subscriptions of Stock shall pass a receipt to the subscriber or subscri- bers for the paj-ment of the first instalment, as heretofore required to be paid ; and upon their settlement with the General Commissioners, as aforesaid, it shall be the duty of the said General Commissioners in like manner to pass their receipt for all sums thus received, to the persons from whom received ; and such receipts shall be taken and held to be good and sufficient vouchers to the persons holding them : That sub- scriptions of Stock thus received to an amount not exceeding Sec.
What to read after Charter And By-Laws of the North Carolina Rail Road Company, With the Proceedings of the First Meeting of Stockholders At Salisbury, N.C., July 11, 12, 1850?
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