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An Act to amend An act to revive and continue an act entitled an act to incorporate the Southern Rail Road Company 1852 115 (1852.1)

handle is hein.slavery/ssactsms0278 and id is 1 raw text is: take effect from and after its passage, and so re- main for the full term of ninety-nine years. SEC. 8. Be it further enacted, That all laws or parts of laws militating against this act, be, and the same are hereby repealed. Approved March 4, 1852. CHAPTER 40. AN ACT to amend An act to revive and continue an act enti- tle an act to incorporate the Southern Rail Road Company, approved February 23rd, 1846, passed March 9th, 1850. SECTION 1. Be it enacted by the Legislature of the State of Mississippi, That the provisions of the Modifi- said act of February 23rd, 1846, revived March cation of 9th, 1850, be and the same are hereby modified in thd act of the following particulars, viz: 1846, and 1. WHEREAS, the act of the Legislature of the 1 State of Alabama, of January 5th, 1846, has expir. ed by limitation without the organization of the Company therein provided for, therefore, so much of the said act of February 23rd, 1846, as provides for the joint organization and operation of the said Company by the two States, be and the same is hereby repealed, and. the said Southern Rail Road Company is hereby declared to be a separate and independent corporation, in the State of Mississip- pi, for the erection and completion of a Rail Road from Brandon in this State, to the Alabama line. in the direction described in the 4th section of the said act of January 5th, 18-16, of the State of Ala- bama, with all the rights, powers and privileges conferred by said act of February 23rd, 1846, ex- cept as hereinafter modified. 2. That the 3rd section of the act of March 9th, 18.50, be and the same is hereby repealed; and the stock subscribed for in said Company, shall be paid Payment as follows, viz: live per cent. on the amount of of stock. the subscription on the organization of said Com- pany, live per cent. in six months, five per cent. in eight months, and five per cent. in twelve months thereafter, and the residue in equal instalments, at one, two and three years from the said last payment; Provided, that the subscriptions of stock may be paid in labor or materials, upon such terms and conditions as may be agreed on between the sub- 11 5 LAWS OF MnSSISSIrrI.

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