| AN ACT |
| |
| To authorize the consolidation of the Stock
of the "Savannah, Albany & Gulf Rail Road Company," and
the "Atlantic & Gulf Rail Road Company," and for other
purposes. |
| Section 1. Be it enacted by
the Senate and House of Representatives of the State of Georgia in
General Assembly met, and it is hereby enacted by the authority of the
same, That the Savannah, Albany & Gulf Rail Road Company and the
Atlantic & Gulf Rail Road Company be, and they are hereby
authorized and empowered to consolidate their Stocks upon such terms
and conditions as may be agreed upon by the Directors of said Rail
Road Companies, and ratified by a majority of the Stockholders
thereof, and the said Rail Road Companies, when so consolidated, shall
be known as "The Atlantic & Gulf Rail Road Company."
Provided, That nothing herein contained, shall relieve or discharge
either of said Companies from any contract heretofore entered into by
either, but this Company shall be liable on the same. |
| Sec. 2. Be it further enacted
by the authority aforesaid, That the Stockholders of said consolidated
Rail Road Companies, by such corporate name and in such corporate
capacity, are made capable in law to have, purchase and enjoy such
real and personal estate, goods and effects, as may be necessary and
proper to carry out the objects herein specified and to secure the
full enjoyment of all the rights herein and hereby granted, and by
said name to sue and be sued, plead and be impleaded in any Court of
competent jurisdiction, to have and use a common seal, and the same to
alter at pleasure, and to make, ordain and establish such rules,
by-laws and regulations as shall seem necessary and convenient for the
government and protection of said corporation, the same not being
contrary to the laws or Constitution of this State, and generally to
do and perform and execute all such acts, matters and things, as may
appertain to corporations of like character. |
| Sec. 3. And be it enacted by
the authority aforesaid, That the several immunities, franchises and
privileges granted to the said Savannah, Albany & Gulf Rail Road
Company and the Atlantic & Gulf Rail Road Company by their
original charters and the amendments thereof, and the liabilities
therein imposed, shall continue in force, except so far as they may be
inconsistent with this Act of consolidation. |
| Sec. 4. And be it further
enacted by the authority aforesaid, That nothing in this Act shall be
so construed as to impair the covenants and obligations of the
Atlantic & Gulf Rail Road Company with and to the State of
Georgia, and that as long as the State of Georgia shall continue to be
a Stockholder in said consolidated Roads, that the Seventh and Eighth
Sections of the Charter granted to the said Atlantic & Gulf Rail
Road Company on the Twenty-seventh of February, in the year one
thousand eight hundred and fifty-six, shall continue in force, and
that the sixth section of such charter, shall remain in force
permanently. Provided, that nothing in this Act shall be so construed
as to affect or impair any right or rights which connecting Rail Roads
had or were entitled to under the Charter of the Atlantic & Gulf
Rail Road Company. |
| Sec. 5. And be it further
enacted by the authority aforesaid, That all laws and parts of laws
militating against this Act be and the same are hereby repealed. |
| John Billups, President of the Senate |
| Jas. W. Mobley, Secretary of the Senate |
| Warren Akin, Speaker of the House of
Representatives |
| L. Carrington, Clerk of the House of
Representatives |
| Assented to, April 18th, 1863 |
| Joseph E. Brown, Governor |
|