1891 public laws – Ch.336 Sec.2
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CHAPTER 336, An act to incorporate the South Carolina, Seaboard and Western Rail- road Company. The General Assembly of North Carolina do enact :
That the capital stock of said company shall be one hundred thousand dollars, which may be increased from time to time to any sum not to exceed five millions of dollars, and may be created by subscription on the part of individuals, municipal, county or other corporations in shares of the par value of one hundred dollars each, which may be made in money, bonds, lands, labor or material for the construction of said railroad in such mariner and on such terms as may be agreed on by the president and directors of said company.