1891 private laws – Ch.2 Sec.2
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CHAPTER 2 An act to declare the Great Falls Water-power Manufacturing and Improvement Company a duly incorporated company, and to amend and enlarge its charter. WHEREAS, The Great Falls Water-power Manufacturing and Improvement Company has heretofore, to-wit, on the eighteenth day of August, Anno Domini one thousand eight hundred and ninety, been incorporated before the clerk of the superior court for the county of Halifax under the general laws of the state of North Carolina, and the organization perfected by the election of officers and the adoption of by-laws, and business conducted under said organ- ization; and whereas, it is desired to enlarge and increase the corpo- rate powers, franchises and privileges of said company : therefore, The General Assembly of North Carolina do enact: That said incorporation before the clerk of the superior court for Halifax county on the eighteenth day of August, one thou- sand eight hundred and ninety, and the organization of the com- pany, election of officers, adoption of by-laws, subscription for and transfers of stock, and all conveyances heretofore made by or to said company or any person for it, and all contracts made by or with said company, are hereby ratified and declared valid, and that the charter of said company granted by the clerk of the superior court for Halifax county as aforesaid, be and the same is hereby amended and re-enacted so as to read as follows:
That said company shall have full power (1). To buy, lease, exchange, own, hold, sell and convey real property, situate in Halifax and Northamption counties, North Carolina, especially those lands along the Great Falls of Roanoke river in any amount or quantity, in fee-simple, or for a less interest, with all rights and privileges in connection therewith: Provided, the amount or quantity so held by the company does not exceed at any one time five thousand acres. (2). To develop and utilize the water-power of the Roanoke river between Gaston and Weldon, North Carolina, and on both sides of that stream, particularly at and along the Great Falls thereof, for manufacturing purposes and for the construction and operation of mills and factories of any kind and for any purpose; and to that end to erect and maintain all necessary dams, waste-ways and obstructions in and across said Roanoke river, and cut and construct such canals and waste-ways from and to said river upon the lands of said company as may be required to fully develop and utilize such water-power: Provided, that in the construction and maintenance of said dams, canals and waste-ways and in the development and use of said water-power, neither the rights or property of persons owning lands on the Roanoks river, nor the rights, franchises, privileges or property of any other corporation, shall be interfered with or encroached upon in any unreasonable manner to the substantial injury of any other person or corporation. (3). To build and equip mills and factories of any kind and for any purpose upon its said property and developments, and operate, sell or lease the same, or make such other disposition of them as it may deem best. (4). To sell, lease and donate the water-power and sites for mills, factories and other structures that may be developed by the construction and maintenance of its aforesaid dams, waste-ways and canals. (5). To lay out its lands not needed for the construction and maintenance of its dams, waste-ways and canals, nor for the operation of the mills and factories that may be located thereon, into streets, parks, blocks and building lots; and if it so desire, erect suitable structures and buildings thereon, and sell, lease and donate the same, whether improved or unimproved. (6). To do any and all things expedient for acquiring, utilizing, improving, developing and disposing of its property, and to that end contract with any person or corporation to purchase and sell to it such lands, water-rights and easements it may desire or need for its aforesaid purposes, and also to develop the water-power and construct and erect the dams, waste-ways, canals, mills and factories iy may determine upon, and make payment therefor in money or i? of its capital stock, or both. (7). To subscribe for stock of, or enter into partnership or arrangements with, any corporation organized under the laws of this state; and in the exercise of such power the present stockholders may surrender and have annulled their shares herein and become subscribers to the capital stock of any corporation with which this company may enter into such contractas is contemplated and provided for in the preceding paragraph of this section, in consideration of the money and stock benefits to which they as subscribers to such corporations stock may be entitled and get from this company under and by virtue of the provisions of such contract.