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Collection ot j|2ott§ Catoliniana Jofm g>prtmt MI
of ti)e ©lags of 1880
C34-5.£
UNIVERSITY OF N.C. AT CHAPEL HILL
00035471970
FOR USE ONLY IN THE NORTH CAROLINA COLLECTION
Mo. A-368
Digitized by the Internet Archive
in 2011 with funding from
Ensuring Democracy through Digital Access (NC-LSTA)
http://www.archive.org/details/revisedstatuteso02nort
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REVISED STATUTES
OF THE
STATE OF NORTH CAROLINA
T*
THE
REVISED STATUTES
^
OF
THE STATE OF NORTH CAROLINA,
PASSED BY THE
GENERAL ASSEMBLY AT THE SESSION OF 1836—7,
INCLUDING
AN ACT CONCERNING THE REVISED STATUTES AND OTHER PUBLIC ACTS,
PASSED AT THE SAME SESSION ; TOGETHER WITH
THE SECOND CHARTER GRANTED BY CHARLES THE 2d TO THE PROPRIETORS OF CAROLINA— THE GREAT DEED
OF GRANT FROM THE LORDS PROPRIETORS— THE GRANT FROM GEORGE THE 2d TO JOHN LORD
GRANVILLE— THE BILL OF RIGHTS AND CONSTITUTION OF THE STATE, WITH THE
AMENDMENTS THERETO— THE CONSTITUTION OF THE UNITED STATES,
WITH THE AMENDMENTS— THE TREATY OF PEACE OF 1763— THE
MECKLENBURG DECLARATION OF INDEPENDENCE, t. .
WITH A SHORT NARRATIVE THEREOF.
Revised under an Act of the General Assembly, passed at the Session of 1833 — 4, by FREDERICK NASH, JAMES IREDELL AND WILLIAM H. BATTLE.
PRINTED AND PUBLISHED, 111 pursuance of an Act of the General Assembly, passed at the Session of 1836 — 7, under the supervision and direc- tion of JAMES IREDELL AND WILLIAM H. BATTLE.
IN TWO VOLUMES VOLUME II.
LTttlv£i-iM\} Mfer&rj! N* C
RALEIGH: PUBLISHED BY TURNER AND HUGHES
1837.
#
B0STON TUTTLE, DENNETT & CHISHOLM PRINTERS 17 SCHOOL STREET.
V.Qu
y
CONTENTS
THE SECOND VOLUME
Second Charter of King Charles the Second to the Lords Proprietors of
Carolina, -----.-- 1
Great Deed of Grant from the Lords Proprietors, 13 Grant from King George the Second to Earl Granville, - - -15
Treaty of Peace between America and Great Britain, 31 Bank Charters, - - - - - - - -37
Boundary of the State, ------ 82
Boundaries of Counties, - - - - - - -97
Cessions to the United States, - 171
Cherokee Lands, ..-..__ \qq
Manufactures — Silk and Sugar, ..... 214
Navigation Companies, ....... 217
Rail Road Companies, ...... 275
Seat of Government, - - - - - - - 415
Turnpike Companies, ...... 418
University of North Carolina, ...... 424
First Charter of King Charles the Second to the Lords Proprietors of
Carolina, ....... 437
Fundamental Constitutions of Carolina, ..... 449
Act for establishing an Agreement with seven of the Lords Proprietors of Carolina, for the Surrender of their title and interest in that Province,
to his Majesty King George the Second, .... 466
Magna Carta of King John, ------ 480
Magna Carta of King Edward the First, ----- 493
VI *tifc* CONTENTS.
Petition of Rights pr^Hed to King Charles the First, with the King's
Reply, - '*•&"•- - - - - - - 501
Bill of Rights passed 1 William and Mary, .... 505
Articles of Confederation, ------- 510
Weldon Toll Bridge Company, - - - - - 518
A Short Notice of the Early History of North Carolina, with a List of the
Governors under the Proprietary, Regal and Present Government, - 522 A Sketch of the Judicial History of North Carolina, with a List of the Judges and Attorney Generals since the Adoption of the Consti- tution, ...._... 527
Index, ........ 533
THE
SECOND CHARTER
GRANTED
BY KING CHARLES THE SECOND,
TO THE
PROPRIETORS OF CAROLINA,
DATED THE THIRTIETH DAY OF JUNE, IN THE SEVENTEENTH YEAR OF HIS REIGN, A. D., 166?. V
Charles the Second, by the grace of God, of Great Britain, France and Ireland, King, Defender of the Faith, &c. Where- Former letters as, by our letters patent, bearing date the twenty fourth day of o^nean March, in the fifteenth year of our reign, we were graciously pleased to grant unto our right trusty and right well-beloved cousin and counsellor Edward Earl of Clarendon, our high chan- cellor of England ; our right trusty and entirely beloved cousin and counsellor George Duke of Albemarle, master of our horse ; our right trusty and well-beloved William now Earl of Craven ; our right trusty and well-beloved counsellor John Lord Berkeley; our right trusty and well-beloved counsellor Anthony Lord Ashley, chancellor of our exchequer ; our right trusty and well-beloved counsellor Sir George Carteret, knight and baronet, vice-chancel- lor of our household ; our right trusty and well-beloved Sir John Colleton, knight and baronet ; and Sir William Berkeley, knight ; all that province, territory, or tract of ground, called Carolina, situate, lying and being within our dominions of America ; ex- tending from the north end of the island called Luke Island, which lieth in the southern Virginia seas, and within thirtysix degrees Within 31 and of north latitude ; and to the west, as far as the south seas ; and norttfatitude^ so respectively as far as the river of Matthias, which bordereth and west to upon the coast of Florida, and within thirtyone degrees of northern the south sea- latitude ; and so west, in a direct line, as far as the south seas aforesaid.
Now know ye, That we, at the humble request of the said grantees, in the aforesaid letters patent named, and as a further mark of our especial favour to them, we are graciously pleased to ^U"JS® a"s to enlarge our said grant unto them, according to the bounds and extlndW29 limits hereafter specified, and in favour to the pious and noble ^to36deg. purpose of the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir Wil-
vol. 11. 1
X SECOND CHARTER OF CHARLES II.
liam Berkeley, their heirs and assigns, all that province, territory or tract of land, situate, lying and being within our dominions of America aforesaid ; extending north and eastward, as far as the north end of Currituck river or inlet, upon a strait westerly line to Wyonoak creek, which lies within or about the degrees of thirty- six and thirty minutes, northern latitude ; and so west, in a direct line, as far as the south seas ; and south and westward, as far as the degrees of twentynine, inclusive, of northern latitude ; and so west, in a direct line, as far as the south seas ; together with all and singular the ports, harbours, bays, rivers and inlets, belong- ing unto the province or territory aforesaid ; and also, all the soils, lands, fields, woods, mountains, ferms, lakes, rivers, bays and islets, situate or being within the bounds or limits last before mentioned ; with the fishings of all sorts of fish, whales, sturgeons, and all other royal fish in the sea, bays, islets and rivers, within the premises, and the fish, therein taken, together with the roy- alty of the sea upon the coast within the limits aforesaid ; and moreover all veins, mines and quarries, as well discovered as not discovered, of gold, silver, gems and precious stones, metal, or any other thing, found, or to be found, within the province, territory, islets and limits aforesaid ; and furthermore, the patron- age and advowsons of all the churches and chapels, which, as Christian religion shall increase within the province, territory, isles and limits aforesaid, shall happen hereafter to be erected ; together with license and power to build and found churches, chapels and oratories, in convenient and fit places, within the said bounds and limits ; and to cause them to be dedicated and consecrated, according to the ecclesiastical laws of our kingdom of England ; together with all and singular the like and as ample rights, jurisdictions, privileges, prerogatives, royalties, liberties, immunities, and franchises of what kind soever, within the terri- Tohold and tory, isles, islets and limits aforesaid : to have, hold, use, exer- asJ°anySBSiop c^se5 an(^ enj°y ^e same, as amply, fully and in as ample manner, of Durham. as any Bishop of Durham, in our kingdom of England, ever here- tofore had, held, used, or enjoyed, or of right ought or could have, use, or enjoy : and them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, we do, by these presents, for us, our heirs and successors, make, create, and constitute, the true and absolute lords and proprietors of the said province 5r territory, and of all other the premises ; saving always the faith, allegiance, and sovereign dominion, due to us, our heirs and successors, for the same : to hold, possess, and enjoy the said province, territory, islets, and all and singular other the premises, to them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, To be held of and Sir William Berkeley, their heirs and assigns forever ; to the manor of e "e holden of us, our heirs and successors, as of our manor of Greenwich, in East Greenwich, in Kent, in free and common socage, and not
free and com- mon socage.
SECOND CHARTER OF CHARLES II. °
in capite, or by knight's service : yielding and paying, yearly, to us, our heirs and successors, for the same, the fourth part of all gold and silver ore, which, within the limits hereby granted, shall, from time to time, happen to be found, over and besides the yearly rent of twenty marks, and the fourth part of the gold and silver ore, in and by the said written letters patent reserved and payable.
And that the province or territory hereby granted and describ- ed, may be dignified with as large tythes and privileges, as any other parts of our dominions and territories in that region : Know ye, That we, of our further grace, certain knowledge, and mere motion, have thought fit to annex the same tract of ground or territory unto the same province of Carolina ; and out of the ful- ness of our royal power and prerogative, we do, for us, our heirs and successors, annex and unite the same to the said province of Carolina.
And forasmuch as we have made and ordained the aforesaid Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berke- ley, their heirs and assigns, the true lords and proprietors of all the province or territory aforesaid ; Know ye therefore moreover, That we, reposing especial trust and confidence in their fidelity, wisdom, justice, and provident circumspection, for us, our heirs and suc- cessors, do grant full and absolute power, by virtue of these presents, to them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, for the good and happy government of the said whole province or territory, full power and authority, to erect, constitute, and make several counties, baronies, and colonies, of and within the said provinces, territories, lands, and hereditaments, in and by the said letters pa- tent, granted, or mentioned to be granted, as aforesaid, with sev- eral and distinct jurisdictions, powers, liberties, and privileges : and also, to ordain, make, and enact, and under their seals, to pub- lish any laws and constitutions whatsoever, either appertaining to the public state of the whole province or territory, or of any dis- tinct or particular county, barony, or colony, or of or within the same, or to the private utility of particular persons, according to their best directions, by and with the advice, assentand ap- probation, of the freemen of the said province or territory, or of the freemen of the county, barony, or colony, for which such law or constitution shall be made, or the greater part of them, or of their delegates or deputies, whom, for enacting of the said laws, when, and as often as need shall require, we will, that the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ash- ley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, and their heirs or assigns, shall, from time to time, as- To call assem- semble in such manner and form as to them shall seem best ; bl)es-
W SECOND CHARTER OF CHARLES II.
and the same laws duly to execute, upon all people within the said province or territory, county, barony, or colony, or the limits thereof, for the time being, which shall be constituted, under the power and government of them or any of them, either sailing to- wards the said province, or territory of Carolina, or returning from thence towards England, or any other of our or foreign domin- ions, by imposition of penalties, imprisonment, or any other pun- ishment; yea, if it shall be needful, and the quality of the offence require it, by taking away member and life, either by them the said Edward Earl of Clarendon, George Duke of Albemarle, Wil- liam Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berke- ley, and their heirs or by them, or their deputies, lieutenants, judges, justices, magistrates, or officers, whatsoever, as well within the said province, as at sea, in such manner and form as unto the said Edward Earl of Clarendon, George Duke of Albemarle, Wil- liam Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berke-
do^&f par"le^' and tneir heirs, shall seem most convenient : and also, to remit, release, pardon, and abolish, whether before judgment or after, all crimes and offences whatsoever against the said laws; and to do all and everything and things, which, unto the complete establish- ment of justice, unto courts, sessions, and forms of judicature, and manners of proceeding therein, do belong, although in these
hoyidJpUleasS&c0PFesents exPress mention is not made thereof; and by judges to him or them delegated, to award process, hold pleas, and deter- mine, in all the said courts and places of judicature, all actions, suits, and causes whatsoever, as well criminal as civil, real, mixt, personal, or of any other kind or nature whatsoever: which laws so as aforesaid to be published, our pleasure is, and we do enjoin, require, and command, shall be absolutely firm and available in law; and that all the liege people of us, our heirs and successors, within the said province or territory, do observe and keep the same inviolably in those parts, so far as they concern them, under the pains and penalties therein expressed, or to be expressed :
Laws to be con- Provided nevertheless, That the said laws be consonant to reason,
aXrneaTas^ as neaf as maybe conveniently, agreeable to the laws and cus-
may be to the toms of this our realm of England.
land. °f Eng" And because such assemblies of freeholders cannot be so sud- denly called as there may be occasion to require the same, we do therefore, by these presents, give and grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George
Till assemblies Cartere.t' ®ir Jonn Colleton> aad Sir William Berkeley, their heirs called, proprie- and assigns, by themselves, or their magistrates, in that behalf law- tors to make the fully authorised, full power and authority, from time to time, to make and ordain fit and wholesome orders and ordinances within the province or territory aforesaid, or any county, barony, or province, within the same, to be kept and observed, as well for the keeping of the peace, as for the better government of the peo- ple there abiding, and to publish the same to all whom it may
SECOND CHARTER OF CHARLES II. 5
concern : which ordinances we do, by these presents, straitly charge and command to be inviolably observed within the same province, counties, territories, baronies and provinces, under the penalties therein expressed ; so as such ordinances be reasonable, and not repugnant or contrary, but as near as may be, agreeable to the laws and statutes of this our kingdom of England ; and so as the same ordinances do not extend to the binding, charging, or taking away the right or interest of any person or persons, in their free- hold, goods, or chattels, whatsoever.
And to the end the said province or territory may be the more happily increased, by the multitude of people resorting thither, and may likewise be the more strongly defended from the incur- sions of savages, and other enemies, pirates and robbers ; there- fore, we, for us, our heirs and successors, do give and grant, by these presents, full power, license and liberty, unto all the liege License for people of us, our heirs and successors, in our kingdom of England, s^ie. and elsewhere, within any other our dominions, islands, colonies, or plantations, (excepting those who shall be especially forbidden) to transport themselves and families into the said province or ter- ritory, with convenient shipping and fitting provision ; and there to settle themselves, dwell, and inhabit : any law, act, statute, ordinance, or other thing, to the contrary, notwithstanding.
And we will also, and of our especial grace, for us, our heirs and successors, do straitly enjoin, ordain, constitute, and command, that the said province and territory shall be of our allegiance ; and The subjects that all and singular the subjects and liege people of us, our heirs j"en toebre dea. and successors, transported, or to be transported into the saidizens and province, and the children of them, and such as shall descend ieges* from them there born, or hereafter to be born, be, and shall be denizens and lieges of us, our heirs and successors, of this our kingdom of England, and be in all things, held, treated and re- puted, as the liege, faithful people of us, our heirs and successors, born within this our said kingdom, or any other of our dominions ; and may inherit or otherwise purchase and receive, take, hold, buy and possess, any lands, tenements, or hereditaments, within the said places, and them may occupy and enjoy, sell, alien, and be- queath ; as likewise, all liberties, franchises, and privileges, of this our kingdom, and of other our dominions aforesaid, may freely and quietly have, possess, and enjoy, as our liege people, born within the same, without the molestation, vexation, trouble, or grievance, of us, our heirs and successors : any act, statute, or- dinance, or provision, to the contrary, notwithstanding.
And furthermore, that our subjects of this our said kingdom of England, and other our dominions, may be the rather encouraged to undertake this expedition, with ready and cheerful means ; Know ye, that we of our especial grace, certain knowledge, and mere motion, do give and grant, by virtue of these presents, as well to the said Edward Earl of Clarendon, George Duke of Al- bemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, and their heirs, as unto all others as shall, from
6 SECOND CHARTER OF CHARLES II.
time to time, repair unto the said province or territory, with a License to purpose to inhabit there, or to trade with the natives thereof; full
transport goods f 1 ' . '
paying customs liberty and license, to lade and freight, in every port whatsoever, and duties. Q£ us^ our heirs an(j successors, and into the said province of Carolina, by them, their servants and assigns, to transport all and singular their goods, wares and merchandises ; as likewise all sorts of grain whatsoever, and any other thing whatsoever, necessary for their food and clothing, not prohibited by the laws and statutes of our kingdom and dominions, to be carried out of the same, without any let ort molestation of us, our heirs and successors, or of any other our officers or ministers whatsoever ; saving also unto us, our heirs and successors, the customs, and other duties and pay- ments, due for the said wares and merchandises, according to the several rates of the places from whence the same shall be trans- ported.
We will also, and by these presents, for us, our heirs and suc- cessors, do give and grant license by this our charter, unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir Wil- liam Berkeley, and their heirs and assigns, and to all the inhabitants and dwellers in the province or territory aforesaid, both present To import into and to come, full power and absolute authority, to import or un- ngan , c. }afje^ foy themselves or their servants, factors, or assigns, all mer- chandises and goods whatsoever that shall arise of the fruits and commodities of the said province or territory, either by land or sea, into any the ports of us, our heirs and successors, in our kingdom of England, Scotland, or Ireland, or otherwise to dis- pose of the said goods in the said ports ; and, if need be, within one year next after the unlading, to lade the said merchandises and goods again into the same or other ships ; and to export the same into any other countries, either of our dominions or foreign, being in amity with us, our heirs and successors, so as they pay such customs, subsidies and other duties, for the same, to us, our heirs and successors, as the rest of our subjects of this our kingdom, for the time being, shall be bound to pay ; beyond which, we will not, that the inhabitants of the said province or territory shall be any ways charged : Provided, nevertheless, and our will and plea- sure is, and we have further, for the considerations aforesaid, of our especial grace, certain knowledge, and mere motion, given and granted, and by these presents, for us, our heirs and succes- sors, do give and grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, full and free license, power and authority, at any time or times, from and after the feast of St. Michael the Archangel, which shall be in the year of our Lord Christ one thousand six hundred and sixty- seven, as well to import and bring into any of our dominions, from the said province of Carolina, or any part thereof, the several goods hereinafter mentioned ; that is to say, silks, wines, raisins,
SECOND CHARTER OF CHARLES II. <
capers, wax, almonds, oil, olives, without paying or answering to us, our heirs and successors, any custom, impost, or other duty, for or in respect thereof, for and during the term and space of seven years, to commence and be accounted from and after the im- portation of four tons of any of the said goods, in any one bottom, ship, or vessel, from the said province or territory, into any of our dominions ; as also, to export, and carry out of any of our dominions, into the said province or territory, custom free, all sorts of tools which shall be useful or necessary for the planters there, in the accommodation and improvement of the premises : any thing before in these presents contained, or any law, act, statute, prohibition, or other matter or thing, heretofore had, made, enacted, or provided, in any wise notwithstanding.
And furthermore, of our more ample and especial grace, certain knowledge, and mere motion, we do, for us, our heirs and suc- cessors, grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berke- ley, Anthony Lord Ashley, Sir George Carteret, Sir John Col- leton, and Sir William Berkeley, their heirs and assigns, full andTo erect sea absolute power and authority, to make, erect, and constitute, with- p°rts, &c. in the said province or territory, and the isles and islets aforesaid, such and so many sea-ports, harbors, creeks, and other places, for discharge and unlading of goods and merchandises, out of ships, boats and other vessels, and for lading of them, in such and so many places, with such jurisdictions, and privileges and franchises, unto the said ports belonging, as to them shall seem most expedi- ent, and that all and singular the ships, boats and other vessels, which shall come for merchandises and trade into the said province or territory, or shall depart out of the same, shall be laden and unladen at such ports only as shall be erected and constituted by the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, and not elsewhere : any use, custom, or thing, to the contrary notwithstanding.
And we do further will, appoint, and ordain, and by these pre- sents, for us, our heirs, and successors, do grant unto the said Ed- ward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, and their heirs and assigns, that they the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and as- signs, may, from time to time, forever, have and enjoy the customs The Lords
and subsidies, in the ports, harbors, creeks, and other places within ProPnelors i • r ■ i 1 1 /• i i l i i may have the
tne province aloresaid, payable tor the goods, wares and merchan- customs, &c
dises there laded, or to be laded or unladed ; the said customs to
be reasonably assessed, upon any occasion, by themselves, and by
and with the consent of the free people, or the greater part of
them, as aforesaid ; to whom we give power, by these presents,
g SECOND CHARTER OF CHARLES II.
for us, our heirs and successors, upon just cause, and in due pro- portion, to assess and impose the same.
And further, of our especial grace, certain knowledge, and mere motion, we have given, granted and confirmed, and by these presents, for us, our heirs and successors, do give, grant and con- firm, unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, aud Sir William Berkeley, their heirs and assigns, full and ab- solute power, license and authority, that they, the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, from time to time hereafter, forever, at his and tors'3 have °po w- tne^r wm" an^ pleasure, may assign, alien, grant, demise, or er to alien to enfeoff, the premises, or any part or parcel thereof, to him or them thinkafit hto be tnat sna^ ^e wm"mg to purchase the same, and to such person and held of them, persons as they shall think fit ; to have and to hold to them, the said person or persons, their heirs and assigns, in fee simple, or in fee-tail, or for term of life or lives, or years ; to be held of them the said Edward Earl of Clarendon, George Duke of Al- bemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir License to such William Berkeley, their heirs and assigns, by such rents, services to have and an(j customs as shall seem fit to them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carter- et, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, and not of us our heirs and successors : and to the same person and persons, and to all and every of them, we do give and grant, by these presents, for us, our heirs and successors, license, authority and power, that such person or persons may have and take the premises, or any part thereof, of the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Cra- ven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, and the same to hold to themselves, their heirs and assigns, in what estate of inheritance soever, in fee-simple, or fee-tail or otherwise, as to them the said Edward Earl of Claren- don, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs or as- signs, shall seem expedient ; the statute in the parliament of Ed- ward, son of King Henry, heretofore King of England, our pre- The statut decessor, commonly called the statute of quia emptor es terrarum, quia emptores. or any other statute, act, ordinance, use, law, custom, or any other matter, cause or thing, heretofore published or provided to the contrary, in any-wise notwithstanding.
And because many persons, born and inhabiting in the said province, for their deserts and services, may expect and be ca- pable of marks of honor and favor, which, in respect of the great
SECOND CHARTER OF CHARLES II. "
distance, cannot be conveniently conferred by us ; our will and pleasure therefore is, and we do by these presents, give and grant unto the said Edward Earl of Clarendon, George Duke of Albe- marle, William Earl of Craven, John Lord Berkeley, Anthony Lord iVshley, Sir George Carteret, Sir John Colleton, and Sir To grant titles William Berkeley, and their heirs and assigns, full power and au-ofhonor- thority, to give and confer unto and upon such of the inhabitants of the said province or territory, as they shall think do or shall merit the same, such marks of favor and titles of honor, as they shall think fit ; so as their titles or honors be not the same as are enjoyed by or conferred upon any of the subjects of this our kingdom of England.
And further also, we do, by these presents, for us, our heirs, and successors, give and grant license to the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Cra- ven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, and then- heirs and assigns, full power, liberty and license, to erect, raise and build, within the said province and places aforesaid, or any part or parts thereof, such and so many forts, fortresses, c as- Build forts, &c, ties, cities, boroughs, towns, villages, and other fortifications whatsoever ; and the same, or any of them, to fortify and fur- nish with ordnance, powder, shot, armour, and all other weapons, ammunition, and habiliments of war, both defensive and offensive, as shall be thought fit and convenient, for the safety and welfare of the said province and places, or any part thereof; and the same or any of them, from time to time, as occasion shall re- quire, to dismantle, disfurnish, demolish and pull down : and also to place, constitute and appoint, in or over all or any of the said castles, forts, fortifications, cities, towns, and places aforesaid, gov- ernors, deputy-governors, magistrates, sheriffs, and other offi- cers, civil and military, as to them shall seem meet ; and to the said cities, boroughs, towns, villages, or any other place or places, Grant charters
' . , ° ', . i ,r i «. ot incorpora-
within the said province or territory, to grant letters or charters tion< of incorporation, with all liberties, franchises, and privileges, re- quisite or usual, or to or within this our kingdom of England granted or belonging ; and in the same cities, boroughs, towns, Erect markets
D a o > . . "-" » j and manors.
and other places, to constitute, erect and appoint such and so many markets, marts, and fairs, as shall, in that behalf, be thought fit and necessary : and further also, to erect and make in the pro- vince or territory aforesaid, or any part thereof, so many manors, with such seignories as to them shall seem meet and convenient ; and in every of the same manors to have and to hold a court- baron, with all things whatsoever which to a court-baron do belong ; and to have and to hold views of frank-pledge and court- leets, for the conservation of the peace and better government of those parts, with such limits, jurisdictions and precincts, as by the said Edward Earl of Clarendon, George Duke of Albemarle, Wil- liam Earl of Craven, John Lord Berkeley, Anthony Lord Ash- ley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, or their heirs shall be appointed for that purpose, with VOL. II. 2
10
SECOND CHARTER OF CHARLES II.
all things whatsoever which to a court-leet, or view of frank-pledge do belong ; the same courts to be holden by stewards, to be de- puted and authorised by the said Edward Earl of Clarendon George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, or their heirs, by the lords of the manors and leets, for the time being, when the same shall be erected.
And because that in so remote a country, and situate among so many barbarous nations, the invasions of savages and other enemies, pirates and robbers, may probably be feared ; therefore, we have given, and for us, our heirs and successors, do give power by these presents, unto the said Edward Earl of Clarendon George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs or assigns, by andTo make the™^es, or their captains, or other officers, to levy, muster war, &c. and train up all sorts of men, of what condition soever, or where-
soever born, whether in the said province, or elsewhere, for the time being ; and to make war, and pursue the enemies aforesaid, as well by sea, as by land ; yea, even without the limits of the said province, and, by God's assistance, to vanquish and take them ; and being taken, to put them to death, by the law of war, and to save them at their pleasure, and to do all and every other thing, which to the charge and office of a captain-general of an army, hath had the same.
Also, our will and pleasure is, and by this our charter, we do give and grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berke- ley, Anthony Lord Ashley, Sir George Carteret, Sir John Col- leton, and Sir William Berkeley, their heirs and assigns, full power, liberty and authority, in case of rebellion, tumult, or sedi- tion (if any should happen, which God forbid) either upon the land within the province aforesaid, or upon the main sea, in making a voyage thither, or returning from thence, by him and themselves, their captains, deputies, or officers, to be authorised under his or their seals, for that purpose ; to whom also, for us, To exercise °Ur ■ 7s,, wd successors> we do give and grant, by these pre- maniallaw. sents> m]l power and authority, to exercise martial law against any mutinous and seditious persons of these parts ; such as shall refuse to submit themselves to their government, or shall refuse to serve m the war, or shall fly to the enemy, or forsake their col- ors or ensigns, or be loiterers, or stragglers, or otherwise offend- ing against law, custom, or military discipline ; as freely and in as ample manner and form, as any captain-general of an army, by virtue of his office, might or hath accustomed to use the same! And our further pleasure is, and by these presents, for us, our heirs and successors, we do grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Cra- ven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs
SECOND CHARTER OF CHARLES II. 11
and assigns, and to the tenants and inhabitants of the said province or territory, both present and to come, and to every of them, that the said province or territory, and the tenants and inhabitants thereof, shall not, from henceforth, be held or reputed any mem- ber or part of any colony whatsoever in America, or elsewhere, now transported or made, or hereafter to be transported or made ; nor shall be depending on, or subject to their government in any thing, but be absolutely separated and divided from the same ; and our pleasure is, by these presents, that they be separated, and that they be subject immediately to our crown of England, as depend- To be separate ing thereof, forever : and that the inhabitants of the said province fS^^1 other or territory, nor any of them, shall, at any time hereafter, be compelled, or compellable, or be any ways subject or liable to Not to answer appear or answer to any matter, suit, cause or plaint whatsoever, ^En^d.^11 out of the province or territory aforesaid, in any other of our islands, colonies, or dominions in America, or elsewhere, other than in our realm of England, and dominions of Wales.
And because it may happen that some of the people and inhab- itants of the said province cannot, in their private opinions, con- form to the public exercise of religion, according to the liturgy, forms and ceremonies of the church of England, or take and subscribe the oaths and articles made and established in that be- half; and for that the same, by reason of the remote distances of those places, will, as we hope, be no breach of the unity and conformity established in this nation ; our will and pleasure there- fore is, and we do, by these presents, for us, our heirs and suc- cessors, give and grant unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, full and free license, liberty and authority, by such ways and means as they shall think fit, to give and grant unto such per- son and persons, inhabiting and being within the said province or territory, hereby, or by the said recited letters patent mentioned to be granted as aforesaid, or any part thereof, such indulgences Indulgence to and dispensations, in that behalf, for and during such time and times, and with such limitations and restrictions, as they the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs or assigns, shall, in their discretion, think fit and rea- sonable : and that no person or persons unto whom such liberty shall be given, shall be any way molested, punished, disquieted, or called in question, for any differences in opinion, or practice in matters of religious concernments, who do not actually disturb the civil peace of the province, county or colony, that they shall make their abode in : but all and every such person and persons may, from time to time, and at all times, freely and quietly have and enjoy his and their judgments and consciences, in matters of reli- gion, throughout all the said province or colony, they behaving themselves peaceably, and not using this liberty to licentiousness,
non-conform- ists.
12 SECOND CHARTER OF CHARLES II.
nor to the civil injury, or outward disturbance of others ; any law, statute or clause, contained or to be contained, usage or custom of our realm of England, to the contrary hereof, in any wise, notwithstanding.
And in case it shall happen, that any doubts or questions shall arise, concerning the true sense and understanding of any word, clause, or sentence contained in this our present charter ; we Interpretation will, ordain and command, that in all times, and in all things, mos^fararable sucn interpretations be made thereof, and allowed in all and to the lords every of our courts whatsoever, as lawfully may be adjudged propne ors. most advantageous and favorable to the said Edward Earl of Cla- rendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony, Lord Ashley, Sir George Carte- ret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, although express mention, &c.
Witness ourself, at Westminster, the thirtieth day of June, in the seventeenth year of our reign.
PER IPSUM REGEM.
GREAT DEED OF GRANT.
George Duke of Albemarle, master of His Majesty's horse ; Edward Earl of Clarendon; William Earl of Craven; Jol n Lord Berkeley ; Anthony Lord Ashley, Chancellor of the Exchequer; Sir George Carteret, Vice Chamberlain of His Majesty's household ; Sir William Berkeley, Knight ; and Sir John Colleton, Baronet ; the true and absolute Lords pro- prietors of all the province of Carolina.
To our trusty and well-beloved Samuel Stephens, Esq. Governor of our county of Albemarle, and the isles and islets within ten leagues thereof; and to our trusty and well-beloved Counsellors and Assistants to our said Governor : Greeting.
Whereas, we have received a petition from the Grand As- sembly of our county of Albemarle, praying, that the inhabitants of the said county may hold their lands upon the same terms and conditions that the inhabitants of Virginia hold theirs ; and foras- much as the said county doth border upon Virginia, and is much of the same nature, we are content, and do grant, that the inhab- itants of the said county do hold their lands of us, the lords pro- prietors, upon the same terms and conditions that the inhabitants of Virginia hold theirs : Wherefore, be it known unto all men, by these presents, That we, the said lords and absolute propri- etors of the county within the province aforesaid, have given, granted, and by these presents, do give and grant, full power and authority unto you, the said governor, by and with the consent of our council, or the major part thereof, or to any governor for the time being, or that shall hereafter be by us appointed, full power and authority, by and with the consent of our council then being, or the major part thereof, to convey and grant such pro- portions of land, as, by our instructions and concessions, annexed to our commission, bearing date in October, Anno Dom. 1667, we have appointed, to such persons as shall come into our said county to plant or inhabit ; to be held of us, of our heirs and assigns, Landg to be upon the same terms and conditions, that land is at present usually held upon the granted in Virginia ; any thing in our instructions and concessions JJJfg^jJ" aforesaid to the contrary, notwithstanding : and we do hereby de- Virginia. clare and consent, that the warrant to the surveyor for the laying out of said land, and the return thereon, being registered, and also the grant of you our said governor and council, that shall be where such land is due, having the seal of the country affixed to it, and signed by yourself, and major part of our council, for the
14 GREAT DEED OF GRANT.
time being, being registered, shall be good and effectual in law, for the enjoyment of the said land or plantation and all the benefits and profits of, and in the same, (except one half of all gold and silver mines) to the party to whom it is granted, his heirs and as- signs, forever, he or they performing the conditions aforesaid.
Given under our hands, and great seal of our province, the first of May, Anno Dom. 1668.
ALBEMAELE,
BERKELEY,
CARTERET,
CRAVEN,
ASHLEY,
COLLETON.
GRANT
FROM
KING GEORGE THE SECOND,
TO
JOHN LORD CARTERET,
AFTERWARDS
EARL GRANVILLE.
This Indenture made the seventeenth day of September, in the Dated the 17th eighteenth year of the reign of our sovereign lord George the j^"1 er' Second, by the grace of God, of Great Britain, France and Ire- land, King, Defender of the Faith, &c, and in the year of our Lord one thousand seven hundred and forty four, between our said sovereign lord the King's most excellent majesty of the one part, and the right honorable John Lord Carteret of the other part.
Whereas his late majesty King Charles the Second, by his letters patent, under the great seal of England, bearing date at Westminster the twentyfourth day of March, in the fifteenth year Recital of the of his reign, did grant and confirm unto Edward then Earl ofig^fcLries Clarendon, George then Duke of Albemarle, William then Lord ii. Craven, John then Lord Berkeley, Anthony then Lord Ashley, Sir George Carteret, knight and baronet, Sir William Berkeley, and Sir John Colleton, knight and baronet, all since deceased, their heirs and assigns, all that territory or tract of ground situate, lying and being within his said late majesty's dominions in America, extending from the north end of the island, called Lucker Island, which lieth in the southern Virginian seas, and within six and thirty degrees of the northern latitude, and to the west as far as the south seas, and so southerly as far as the river Saint Mat- thias, which bordereth upon the coast of Florida, and within one and thirty degrees of northern latitude, and so west in a direct line as far as the south seas aforesaid; together with all and singu- lar ports, harbors, bays, rivers, isles and islets, belonging unto the country aforesaid; and also, all the soil, lands, fields, woods, mountains, farms, lakes, rivers, bays, and islets, situate or being within the bounds and limits aforesaid; with the fishing of all sorts of fish, whales and sturgeon, and all other royal fishes, in the sea, bays, islets and rivers within the premises; and the fish therein taken. And moreover, all veins, mines, quarries, as well discov- ered as not discovered, of gold, silver, gems and precious stones, and all other whatsoever, whether of stones, metals, or any other thing whatsoever, found or to be found within the country,
16 GRANT TO EARL GRANVILLE.
islets and limits aforesaid; and also all the patronage and advow- sons of all churches and chapels, which, as Christian religion should increase within the countries, isles, islets, and limits afore- said, should happen thereafter to be erected, together with license and power to build and found churches, chapels, and oratories in convenient and fit places within the said bounds and limits, and to cause them to be dedicated and consecrated according to the ecclesiastical laws of the kingdom of England, together with all and singular the like, and as ample rights, jurisdictions, privileges, prerogatives, royalties, liberties, immunities and franchises of what kind soever within the country, isles, islets, and limits aforesaid. To have, use, exercise and enjoy, and in as ample a manner as any bishop of Durham in the kingdom of England ever theretofore had, held, used or enjoyed, or of right ought or could have, use or enjoy. And his said late majesty did thereby for himself, his heirs and successors, make, create and constitute the said Edward Earl of Clarendon, George Duke of Albemarle, William Lord Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir William Berkeley, and Sir John Col- leton, their heirs and assigns, the true and absolute lords and pro- prietors of the country aforesaid, and all other the premises, (saving always the faith, allegiance and sovereign dominion due to his said majesty for the same) to have, hold, possess and enjoy the said country, isles, islets, and all other the premises, to them the said Edward Earl of Clarendon, George Duke of Albemarle, William Lord Craven, John Lord Berkeley, Anthony Lord Ash- ley, Sir George Carteret, Sir William Berkeley, and Sir John Colleton, their heirs and assigns, forever, to be holdenof his said late majesty, his heirs and successors, as of his manor of East- Greenwich in the county of Kent, in free and common socage, and not in capite or by knight's service, yielding and paying to his said majesty, his heirs and successors, for the same, the fourth part of all gold and silver ore within the limits aforesaid, and the yearly rent of twenty marks.
And whereas his said late majesty, king Charles the Second,
by other letters patent under the great seal of England, bearing
date the thirtieth day of June, in the seventeenth year of his
Fecital of the reign, reciting the letters patent herein first recited, did grant unto
mhCharLs?/ the said Edward Earl of Clarendon, George Duke of Albemarle,
William Lord Craven then Earl of Craven, John Lord Berkeley,
Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, all that province, territory and tract of ground situate, lying and being within his late majesty's dominions of America, extending north and east- ward as far as the north end of the Currituck river or gullet upon a strait westerly line to Wyanoake creek, which lies within or about the degrees of thirty six and thirty minutes northern latitude, and so west in a direct line so far as the south seas, and south and westward as far as the degrees of twenty nine, inclusive, northern latitude, and so west in a direct line to the south seas, together with all and singular the ports, harbors, bays, rivers and islests belong-
GRANT TO EARL GRANVILLE. 17
ing unto the province or territory aforesaid, and also all the soil, lands, fields, woods, farms, lakes, rivers, bays and islets, situate or being within the bounds or limits last before mentioned, with fish- ing of all sorts of fish, whales, sturgeons and other royal fishes, in the sea, bays, islets, and rivers within the premises, and the fish therein taken, together with the royalty of the sea upon the coasts within the limits aforesaid, and all veins, mines and quarries as well discovered as not discovered, of gold, silver, gems and precious stones, and all other whatsoever, be it of stone, metals or any other things found or to be found within the premises, territory, islets and limits aforesaid ; — and furthermore the patronages and advow- sons of all churches and chapels, which, as Christian religion should increase within the province, territory, isles and limits aforesaid, should happen thereafter to be erected, together with license and power to build and found churches, chapels and oratories in con- venient places within the said bounds and limits, and to cause them to be dedicated and consecrated according to the ecclesias- tical laws of the kingdom of England, together with all and singular the like and as ample rights, jurisdictions, privileges and preroga- tives, royalties, liberties, immunities and franchises of what kind soever, within the territory, isles, islets and limits aforesaid. To have, hold, use, exercise and enjoy the same as amply and fully, and in as ample manner as any bishop of Durham in the king- dom of England ever theretofore, had, held, used or enjoyed, or of right ought or could have, use or enjoy.
And his said late majesty did thereby for himself, his heirs and successors, make, create, constitute and appoint the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton and Sir William Berkeley, their heirs and assigns, the true and absolute lords proprietors of the said province or territory, and of all other the premises, (saving always the faith, allegiance and sovereign dominion to his said late ma- jesty, his heirs and successors, for the same.) To have, hold, possess and enjoy, the said province, territory, islets, and all and singular other the premises to them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton and Sir William Berkeley, their heirs and assigns forever. To be holden of his said majesty, his heirs and successors, as of the manor of East Greenwich aforesaid, in free and common socage, and not in capite, or by knight's service, yielding and paying to his said majesty, his heirs and successors, for the same, the fourth part of all gold and silver ore, which, within the limits thereby granted, should from time to time happen to be found, over and besides the yearly rent of twenty marks, and the fourth part of the gold and silver ore in and by the said first recited letters patent reserved and payable. And his said late majesty King Charles the Second, did, by the said several letters patent, or one of them, grant to the said Edward Earl of Clar- endon, George Duke of Albemarle, William Earl of Craven,
VOL. II. 3
18 GRANT TO EARL GRANVILLE.
John Lord Berkeley, Anthony Lord Ashley, Sir George Car- teret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, full and absolute power to make and publish laws, either appertaining to the public state of the said provinces, or to the private utility of particular persons, with the assent of the freemen of the said provinces or of their delegates, and for that purpose to assemble them in such manner and form as to them the said Edward. Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton and Sir William Berkeley, their heirs and assigns should seem best, and the same laws duly to execute on all the people within the said provinces and limits thereof by imposition of penalties, imprisonments, or any other punishments, and if mindful, by taking away member or life, either by them the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, An- thony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, or by them or their deputies, lieutenants, judges, justices, magistrates, or officers what- soever, as well within the same province as at sea, in such manner and form as unto the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, and their heirs shall seem most con- venient : also to remit, release, pardon and abolish, whether before judgment or after, all crimes and offences whatsoever against the said laws, and to do all and every other thing and things which unto the complete establishment of justice, unto court sessions and forms of jurisdiction, and manners of proceeding therein, do belong, although in the said letters patent express mention is not made thereof, and by judges by him or them delegated, to award process, hold pleas, and determine in all the said courts and places of judicature all actions, suits and causes whatsoever, as well crim- inal as civil, real, mixt, personal, or of any other kind or nature whatsoever ; and because such assemblies of freeholders could not so conveniently be called as there might be occasion to require the same, his said majesty did further grant to the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, by themselves or their magistrates, full power to make and ordain fit ordinances within the said provinces, as well for keeping the peace, as for the better government of the people.
V And his majesty did further grant to the said Edward Earl of Clarendon, George Duke of Albemarle, William Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, full power to make and erect within the said provinces and the isles and islets aforesaid, such sea-ports, harbors, creeks, and with such jurisdictions, privileges and franchises to them be-
19
GRANT TO EARL GRANVILLE.
taurine as to them shall seem convenient, and to have and enjoy the customs and subsidies therein payable for goods and mer- chandises there laded, to be reasonably assessed by themselves with the consent of the free people there. . ,
And further his said majesty did grant to the said Edward Earl of Clarendon, George Duke of Albemarle, Wilham Earl of Craven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, their heirs and assigns, full power to confer upon the inhabitants of the said prov- ince such marks of favor and titles of honor as they should think fit, so as the said titles be not the same as are enjoyed by, or con- ferred upon any of the subjects of England ; and also, power to raise and build forts, castles, cities, boroughs, towns, villages and other fortifications ; and furnish the same with all ordnance pow- der, shot, armour, and all other weapons, ammunition, habiliments of war, both defensive and offensive, as shall be thought fit and convenient for the safety and welfare of the said province and places, or any part thereof; and to dismantle and demolish the same ; and appoint governors, deputy governors, magistrates sheriffs, and other officers, civil and military ; and to the said cities, towns, boroughs, villages, or any other place or places within the said province or territory to grant letters or charters ol incorporation, with all requisite and usual liberties, franchises and privileges, and appoint therein fairs and markets, and to make and erect manors and courts baron, and courts leet for the conservation of the peace and better government of the said provinces ; and also, full power to levy, muster, and train all sorts ol men, ot what condition or wheresoever born within the said provinces, and to make war by land and sea, and to do all and every thing which belongs to the office of a captain-general of an army, and to ex- ercise martial law in as ample a manner as any captain-general ol an army, by virtue of his office might or has accustomed to use
\n7his said majesty did further grant to the said Edvyard Earl of Clarendon, George Duke of Albemarle, William Earl of Cra- ven, John Lord Berkeley, Anthony Lord Ashley, Sir George Carteret, Sir John Colleton, and Sir William Berkeley, then- heirs and assigns, full power from time to time forever, to assign, alien, grant, or enfeoff the premises to such persons as they should think fit, to hold in fee-simple or fee-tail, for term of lite or lives or years, to be held of them and their assigns by such rents, services, and customs as shall seem fit to them, and not ot his said majesty, his heirs and successors, the statute ol quia emptores terrarum or any other statute, cause or thing notwith- standing, as in and by the said several recited letters patent, relation being thereunto had, may appear.
And whereas the respective parts, shares, interests and estates of the said Edward Earl of Clarendon George Duke of ^Sffi&TS marie, William Earl of Craven, John Lord Berkeley, Anthony he said propri. Lord Ashley, Sir John Colleton, and Sir William Berkeley, oW vested p and in the provinces, territories, islets, hereditaments, and premi- ses, in and by the said several recited letters patent granted and
20
GRANT TO EARL GRANVILLE.
comprised, did come unto and vest in Henry Duke of Beaufort,
William late Lord Craven, James Bertie, Doddington Greville,
Henry Bertie, Mary Dawson, Elizabeth Moor, Sir John Colleton,
Archibald Hutcheson, John Cotton, and Joseph Blake, or some
or one of them, and the part, share, interest and estate of the said
Sir George Carteret of and in the same premises, did come unto
and vest in the said John Lord Carteret. And whereas the said
Henry, now Duke of Beaufort, William, late Lord Craven, James
Bertie, Henry Bertie, Sir John Colleton, and Archibald Hutche-
Six of the pro- son5 who was trustee for the said John Cotton, being six of the
f?vTt;£nnP°tnlords ProPrietors of the provinces and territories aforesaid, did by
surrender to his tneir numble petition to his majesty in council propose to sur-
^speSctUheir render t0 his maJesty their said several and respective shares and
shares of the interest, not only of the said government, royalties and franchises
!XrfTheentparodin and hy the said recited letters patent granted, but also all the vinces, (except, right and property they had in and to the soil in the aforesaid prov- £m tflSwol i"CeS °r territories under the said several recited letters patent or apiece. ' 'either of them ; and also to make an entire surrender to his ma- jesty of their right to all the lands which they hold under the grants made by the said lords proprietors (except as therein excepted) praying that in consideration of such surrender, his majesty would be pleased to direct and cause to be paid to each of them the sum of two thousand five hundred pounds a piece, without any deduc- tion ; and Samuel Wragg of London, merchant, did on the behalf Another pro- and by the direction of the said Joseph Blake propose to surrender sSsSder and convey to his majesty, his heirs and successors, all the estate, upon the like right and interest of the said Joseph Blake in and to the premises, upon payment of the like sum of two thousand five hundred pounds to the said Joseph Blake without any deduction. Seven of the And whereas the said Henry Duke of Beaufort, William Lord P.™Fietors es: Craven, James Bertie, Henry Bertie, Sir John Colleton, and rentV&c . qmt Archibald Hutcheson, who is a trustee for the said John Cotton, and propose laid before a committee of his majesty's most honorable nrivv
to assign -i ,• rni <* r J
themtohisma-co,mcu an estimate of all the arrears of quit rents and other jesty for 5;oooz. rents, and sum and sums of money then due and owing to them and the said Joseph Blake and the said John Lord Carteret j which estimate amounted to the sum of nine thousand five hundred pounds ; and they the said Henry Duke of Beaufort, William Lord Craven, James Bertie, Henry Bertie, Sir John Colleton, and Archibald Hutcheson, did likewise humbly propose, and the said Samuel Wragg for and on the behalf of the said Joseph Blake did likewise propose, that if his said majesty would please to allow the sum of five thousand pounds for the said arrears (over and above the said several sums of two thousand five hundred pounds to be paid to them respectively) they were willing to assign over to his majesty their right and title to the said arrears, and all other Jropo'sdS demands whatsoever, which they had or could have upon the farm- greed to by his ers, tenants or inhabitants of the provinces or territories aforesaid, majesty. or miy 0f them ; and which said several proposals his majesty
was pleased to accept and agree to.
And whereas by an act of parliament made in the second year
GRANT TO EARL GRANVILLE. 21
of his said present majesty's reign, entitled, An Act for estab- An act of par- lishing an agreement with seven of the lords proprietors of Car- t^™g£ ^ees lina for the surrender of their title and interest in that province to agreement, his majesty, reciting to the effect herein before recited, it was en- acted, that all those seven undivided eighth parts, (the whole into eight equal parts or shares to be divided) and all other the part or share, parts or shares, interests and estates of them the said Henry Duke of Beaufort, William Lord Craven, James Bertie, Doddington Greville, Henry Bertie, Mary Dawson, and Elizabeth Moor, Sir John Colleton, Archibald Hutcheson as trustee for the said John Cotton, and Joseph Blake, and each of them, of, and in the aforesaid provinces or territories called Carolina, and all and singular the royalties, franchises, lands, tenements, heredita- ments, and premises in and by the said several recited letters patent, or either of them, granted or mentioned, or intended to be granted by his said late majesty King Charles the Second, to the said Edward Earl of Clarendon, George Duke of Albemarle, Wil- liam Earl of Craven, John Lord Berkeley, Anthony Lord Ash- ley, Sir George Carteret, Sir John Colleton deceased, and Sir William Berkeley, their heirs and assigns aforesaid, with their and every of their rights, members, and appurtenances, and also all such powers, liberties, authorities, jurisdictions, pre-eminences, licenses and privileges as they the said Henry Duke of Beau- fort, William Lord Craven, James Bertie, Doddington Greville, Henry Bertie, Mary Dawson and Elizabeth Moor, the present Sir John Colleton, the said Archibald Hutcheson, as trustee for the said John Cotton, and Joseph Blake, every or any of them could or might have, hold, use, exercise or enjoy by virtue of or under the said recited letters patent or either of them, (except as therein excepted) and the reversions, remainders, rents, issues and profits of the same parts or shares, baronies, lands, tene- ments, hereditaments and premises, so as aforesaid proposed and agreed to be surrendered to his majesty, and of every part and parcel thereof, should from and after the first day of June in the year of our Lord one thousand seven hundred and twentynine, be vested and settled, and the same were thereby vested and set- tled, in and upon the said Edward Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, and their heirs, to the use of them, The surrender- their heirs and assigns, freed and discharged, of and from all es- ed /hares, &c.
° 7 . 5 " . vested in trus-
tates, uses, trusts, entails, reversions, remainders, limitations, tees, to convey charges and incumbrances whatsoever, upon trust, and to the in- *° hl| ™Jnetstof tent that they the said Edward Bertie, Samuel Horsey, Henry 17,500/. to be Smith and Alexius Clayton, and the survivors and survivor of ^if^t3 the them, and the heirs 01 such survivor, upon payment by his ma- jesty, his heirs or successors to the said Edward Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, of the sum of seven- teen thousand five hundred pounds, clear of all deductions, on or before the twentyninth day of September, one thousand seven hundred and twentynine, should by deed indented and to be en- rolled in his majesty's high court of chancery, surrender, convey, and assure unto his majesty, his heirs and successors, all and sin-
22 GRANT TO EARL GRANVILLE.
gular the said seven eighth parts or shares (the whole into eight equal parts to be divided) and all other the parts and shares, inter- ests and estates, of and in the said provinces or territories, and all and singular the premises thereby vested in them and their heirs aforesaid, which said sum of seventeen thousand five hundred pounds should be applied and disposed of in such manner as by the said act is particularly directed. And it was by said act further Rights to the enacted, That from and after the payment of the said sum of five quit rents also thousand pounds to the said Edward Bertie, Samuel Horsey,
vGStscl in the- ■*- *
king, after pay- Henry Smith and Alexius Clayton, the survivor or survivors of <Toooz°f the mem5 or ^e executors or administrators of such survivor, and after the execution of the grant and assignment of the said parts and shares of the said arrears, by the said act directed to be made, his majesty might have, receive and enjoy the said seven eighth parts or shares (the whole into eight equal parts to be divided) and all and every other parts and shares of the said arrears of quit rents, and other rents and sums of money thereby vested in the said Ed- ward Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, and should and might have, use and pursue such and the like re- medies for the recovery thereof as the said Henry Duke of Beau- fort, William Lord Craven, James Bertie, Henry Bertie, Mary '*' Dawson, Doddington Greville, Sir John Colleton, Archibald Hutcheson, John Cotton and Joseph Blake, any or either of them, might have had, used or pursued, if the said act had not been Reservation in made ; and in and by the said act there is contained a reservation theactofepe to the said John Lord Carteret, his heirs, executors, administra- thc provinces, tors or assigns, of all such estate, right, title, interest, property, qui| hntf' ^f ' c^a™ anc^ demand whatsoever, in, unto or out of one eighth part Carteret. or share of the said provinces or territories; with all and singular the rights, members and appurtenances thereof, and of, in and to one eighth part or share of all arrears of quit rents, and other rents, sum and sums of money, debts, duties, accounts, reckon- ings, claims, and demands whatsoever, now due and owing to the present lords proprietors of the said provinces and territories, and all such other rights, titles, privileges and powers whatsoever as the said John Lord Carteret, his heirs, executors or administrators then had or might have had, or been entitled unto in case the said act and the conveyances thereby directed to be made to his ma- jesty, his heirs or successors, or either of them, had not been or should not be made as in and by the said act of parliament herein before recited, relation being thereunto had, may amongst other things more fully appear. Indenture tri- And whereas by indenture tripartite bearing date the twentyfifth 5th July, 1729, day of July, in the year of our Lord one thousand seven hundred between the and twentynine, and made or mentioned to be made between our tee^' and *he said sovereign lord the King, of the first part, and the said Edward late proprietors. Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, by the names and additions of Edward Bertie, of Gray's Inn, in the county of Middlesex, Esquire, Samuel Horsey, of Mortlake, in the county of Surry, Esquire, Henry Smith, of Caversham, in the county of Oxon, Esquire, Alexius Clayton, of the Middle Tem-
GRANT TO EARL GRANVILLE.
23
pie, London, Esquire, of the second part, and the most noble Henry Duke of Beaufort, the honorable James Bertie, of the parish of Saint John the Evangelist, in the Liberty of Westmin- ster, in the county of Middlesex, Esquire, the honorable Dod- dington Greville, of Bulford, in the county of Wilts, Esquire, the said Doddington Greville and James Bertie being the surviv- ing devisees named in the last will of the most noble Henry Duke of Beaufort, deceased, in trust for the said Henry, now Duke of Beaufort, and for the right honorable Charles Noel Somerset, Es- quire, commonly called Lord Charles Noel Somerset his brother, an infant, the right honorable William Lord Craven, Joseph Blake, of the province of South Carolina, in America, Esquire, Archi- bald Hutcheson, of the Middle Temple, London, Esquire, John Cotton, of the Middle Temple, London, Esquire, Sir John Colle- ton, of Exmouth, in the county of Dover, Baronet, the honora- ble Henry Bertie, of Dorton, in the county of Bucks, Esquire, Mary Dawson, of the parish of Saint Andrew, Holborn, in the county of Middlesex, widow, and Elizabeth Moor, of London, widow, of the third part, reciting as therein is recited.
It is witnessed that they the said Edward Bertie, Samuel Hor- The trustees sey, Henry Smith and Alexius Clayton, for the consideration S^^»<ST- therein, pursuant to the directions in the said recited act of parlia- farm to the king ment, and the trust thereby in them reposed, did bargain, selPa^tgagSCseepvteaS and surrender, and the said Henry Duke of Beaufort, William by the act ex- Lord Craven, James Bertie, Doddington Greville, Henry Bertie, cepte * Mary Dawson, Elizabeth Moor, Sir John Colleton party thereto, Archibald Hutcheson, John Cotton, and Joseph Blake, did ratify and confirm unto his Majesty, his heirs and successors, the said seven undivided eighth parts (the whole into eight equal parts to be divided) and all other the part or share, parts or shares, inter- ests and estates in and by the recited act of parliament vested in them the said Edward Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, (except as in the said act is excepted) of and in the aforesaid provinces or territories called Carolina, and of and in all and singular the royalties, franchises, lands, tenements, her- editaments and premises, in and by the said several recited letters patent or either of them granted or mentioned to be granted, with their and every of their rights, members and appurtenances, and all the estate, right, title, interest, trust, property, claim and de- mand whatsoever, of them the said Edwnrd Bertie, Samuel Hor- sey, Henry Smith and Alexius Clayton, and of the said Henry Duke of Beaufort, James Bertie, Doddington Greville, William Lord Craven, Henry Bertie, Mary Dawson, Elizabeth Moor, Sir John Colleton party thereto, Archibald Hutcheson, John Cot- ton and Joseph Blake, every or any of them, of, in, and to the same. To hold the seven undivided eighth parts (the whole into eight equal parts to be. divided) and all other the premises thereby bargained, sold and surrendered, with their and every of their ap- purtenances (except as therein before excepted) unto the king's most excellent majesty, his heirs and successors.
And it is by the said indenture further witnessed, That for the
24 GRANT TO EARL GRANVILLE.
Seven parts of further consideration therein mentioned, they the said Edward conveqyed inentS Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, in like manner to pursuance of the trust in them reposed, in and by the said recited 1 e ing' act of parliament, did grant, bargain, sell, assign, transfer and set
over ; and the said Henry Duke of Beaufort, William Lord Cra- ven, James Bertie, Doddington Greville, Henry Bertie, Mary Dawson, Elizabeth Moor, Sir John Colleton party thereto, Ar- chibald Hutcheson, John Cotton and Joseph Blake, did ratify and confirm unto his said majesty, his heirs and successors, the said seven eighth parts (the whole into eight equal parts to be divided) of all and every the arrears of the quit rents, sum and sums of money, debts, duties and demands whatsoever, which at the time of making the said act of parliament were due and owing to the said Henry Duke of Beaufort, or to the said James Bertie, and Doddington Greville, and to the said John Lord Carteret, Wil- liam Lord Craven, James Bertie, Henry Bertie, Mary Dawson, Elizabeth Moor, Sir John Colleton party thereto, Archibald Hutcheson, John Cotton and Joseph Blake, and all the arrears, shares, sums of money and premises, in and by the said recited act vested or intended to be vested in them the said Edward Ber- tie, Samuel Horsey, Henry Smith and Alexius Clayton, in trust for the purposes aforesaid ; and all the right, title, interest, trust, claim and demand whatsoever of them the said Edward Bertie, Samuel Horsey, Henry Smith and Alexius Clayton, and of them the said Henry Duke of Beaufort, James Bertie, Doddington Greville, William Lord Craven, Henry Bertie, Mary Dawson, Elizabeth Moor, Sir John Colleton party thereto, Archibald Hutcheson, John Cotton and Joseph Blake, every or any of them, of, in, and to the same. To hold, receive and enjoy the said arrears, sums of money and premises therein last before granted, bargained and sold and assigned unto his said majesty, his heirs and successors, to and for his and their own use and benefit as in and by the said recited indenture, relation thereunto being had, may more fully appear. Lord Carteret And whereas the said John Lord Carteret, by his humble peti-
petinons the tion, to his majesty in council, recitins; the said several letters pa- king in councii 1 . ->r •> . ' . ° . r .
to have his sth tent and act ot parliament herein belore recited, and that he is part set out stj^ entitled to one full undivided eighth part of the said province,
and allotted to ~ . i i i ■ i i i
him, and propo- and ot all the premises granted by the said several letters patent, ses to surrender an(j ajs0 0f tne arrear 0f qUit rents, and other duties, reckonings,
tllC £COV € I'll 111 CTlt ■*- O '
of the provin- claims and demands, hath humbly prayed his majesty that his said eighth part of the soil of the said provinces and territories, might be set out and allotted to him in such part of the said provinces and territories as should be agreed on between such persons as his majesty shall be pleased to appoint for his majesty, and such per- sons as the said John Lord Carteret should name on his part. To have, hold and enjoy the same forever hereafter in severalty to the said John Lord Carteret, his heirs and assigns, together with all and every the same royalties, powers, liberties, franchises and privileges, (the government thereof and of the said province of Carolina only excepted) as far as concerns such eighth part to be
ces
GRANT TO EARL GRANVILLE. AO
so allotted to the said John Lord Carteret, as he is entitled to un- der the said letters patent and act of parliament, in case such divi- sion or allotment was not or should not be made, and under the like quit rents proportionably, as is mentioned in the said letters patent according to the proportion or eighth part thereof ; and thereupon the said John Lord Carteret humbly offered and pro- posed to surrender to his majesty, his heirs and successors, his share and interest of and in the government of the said provinces or territories, and to convey, release and confirm to his majesty, his heirs and successors, the other seven parts of the said prov- inces.
And whereas his present majesty was pleased to refer the said Petition refer- petition to the right honorable the lords of the committee of his red t0 jj £om" majesty's most honorable privy council, for them to consider privy council, thereof, and report the same, with their opinion thereupon, to his majesty in council, and which said petition the said lords of the committee of his majesty's most honorable privy council, did refer to the right honorable the lords commissioners for trade and B^ them r,efer~
pgQ \q trie lords
plantations for them to examine the same and consider thereof and commissioners report the same with their opinion thereupon to their lordships. *°rtra4e and
.r11 Tii •■ r i 11 • plantations.
And whereas the lords commissioners tor trade and plantations having examined the said petition, and considered thereof, did, by their report to the said lords of the committee of his majesty's Lords commis- most honorable privy council, offer as their opinion, that it would f10tni®rs rePor' be for his majesty's service that the said Lord Carteret's pro- tee of privy perty should be separated from that of his majesty, wherein the cT^.cl1 "L- or said Lord Carteret should enjoy whatsoever he was entitled to by the charters of Carolina, and the aforesaid act of parliament ; and for the better preventing any difficulties that might attend the set- ting out an eighth part of the soil of the said province, the said lords commissioners conceive the method proposed by the said Lord Carteret would be the most effectual, which said report The committee the said lords of the committee of his majesty's most honorable ionwitht^"1" privy council having taken into their consideration, did agree in commissioners. opinion with the said lords commissioners for trade and planta- Tlie committee tions. And whereas the said right honorable the lords of the king that Lord committee of his majesty's most honorable privy council did on Carteret's pro- the twentyfourth of August, one thousand seven hundred and separated from.6 forty two, make their report thereupon to his majesty, reciting as ^ maJesty's- herein last before is recited ; and that the said Lord Carteret's property should be separated from that of his majesty, and for that end the said committee humbly propose that the respective That the gov- gov ernors of South and North Carolina, or either of them, as his cTrofinas^r majesty should be pleased to direct, be ordered to nominate and either of 'them, appoint proper persons as commissioners on his majesty's behalf, app^t^com- not exceeding five, who in conjunction with a like number of j)er- missioners to sons to be appointed by the said Lord Carteret as commissioners ftamoSrf on his behalf, should be empowered to set out and allot to the Carteret. said Lord Carteret one full eighth part of the said provinces of Caro- lina, in such part or parts of the said provinces and territories as vol. n. 4
*6 GRANT TO EARL GRANVILLE.
6IhnersrriakeSho"id be .^edon by the said commissioners so to be appointed a return of such as atoresaid ; and that they should be required to make a return theTnfin0 °f *** Proceedings therein to his majesty in council, within eigh- council within teen months alter the date of his majesty's order to be made upon is months. the said report, and also to lay before his majesty a plan containing And to lay be- a lull and exact description of the said lands, together with the S rf tfi* "respective boundaries thereof, in order to his majesty's signifying lands, &c. his royal pleasure (in case his majesty should approve thereof) for conveying the same to the said Lord Carteret in such manner as should be advised by his majesty's counsel learned in the law, pro- vided the said Lord Carteret should at the same time make a sur- render to his majesty of all his pretensions to the government of the said provinces of Carolina, and should convey, release, and confirm i to his majesty, his heirs and successors the other seven parts of the said provinces : and for the better guidance of the commissioners so to be appointed on his majesty's behalf in the discharge of their duty therein, the said committee conceived, that it might be advisable for his majesty by his order in council, to require the said commissioners to follow and observe such directions and instructions as might be found necessary to be given The kin. ap- ™ l™e to time either by his majesty, or by those who act proves o! tfie und.er hls majesty's royal authority ; and which said report his report. majesty m council was pleased to approve of.
SS caring , And ^/reas his said majesty, by his order in council, bearing the provisions date the fifteenth day of September, in the year of our Lord one &1 thousand seven hundred and fortytwo, reciting as herein last above is recited, and that his majesty in council was that day pleased to take thesaid petition into his royal consideration, together with the opinion of a committee of his privy council, and of the lords commissioners for trade and plantations thereupon, and was thereby pleased to order that the respective governors of the provinces of e u i Carollna' or either of them, as his majesty should there- after be pleased to direct, should nominate and appoint proper persons to be commissioners on his majesty's behalf, not exceed- ing five, who m conjunction with a like number of persons to be appointed by the said Lord Carteret as commissioners on his be- half, were thereby empowered to set out and allot to the said Lord Carteret one full eighth part of the said provinces of Carolina, in such part or parts of the said provinces and territories as should be agreed upon by the commissioners so to be appointed as afore- said ; and that the said commissioners should make a return of their proceedings herein to his majesty in council, within eighteen months from the date of the said order, and that they should at the same time transmit to his majesty a plan containing a full and exact description of the said lands, together with the respective boundaries thereof, in order to his majesty's signifying his royal pleasure, (m case his majesty should approve thereof) for convey- ing the same to the said Lord Carteret' in such manner as shall be advised by his majesty's counsel learned in the law, provided that the said Lord Carteret should at the same time make a surrender
GRANT TO EARL GRANVILLE.
27
to his majesty of all his pretensions to the government of the said provinces of Carolina, and should convey, release and confirm to his majesty, his heirs and successors, the other seven parts of the said provinces as by the said petition and order, relation thereunto likewise being had, may more fully appear.
And whereas commissioners were accordingly appointed on be- Commissioners half of his majesty, and of the said John Lord Carteret, to set out JJJJ and allot to the said John Lord Carteret one full eighth part of the said one eighth said provinces of Carolina, who by their humble report to his ma- P^^their jesty in council bearing date the sixth day of December, in the year of our Lord one thousand seven hundred and fortythree, did certify that in pursuance of his majesty's said order in council, dated the fifteenth day of September, one thousand seven hundred and fortytwo, and of his majesty's royal instructions thereupon, given the twentyfifth day of April, one thousand seven hundred and fortythree, they did immediately proceed to set out and allot to the said John Lord Carteret one full eighth part of the provinces of Carolina, in one entire separate district, in the province of North Carolina, next adjoining and contiguous to the province of Virginia, which eighth part is bounded to the north by the line that Boundaries of divides Carolina from Virginia, to the east, by the great western Lord Carteret's ocean, commonly so called, and as far southwardly as a cedar stake set upon the sea side, in the latitude of thirtyfive degrees and thirtyfour minutes at north latitude, being six miles and a half to the southward of Chickmacomack inlet, from that stake by a west line which passed twentyfive feet to the southward of the house wherein Thomas Wallis liveth, and so west as far as the bounds of the charter granted to the lords proprietors of Carolina by his majesty King Charles the Second, which west line went one thousand six hundred and sixty poles to the north of the south end of Bath-Town, and the said commissioners did, pursuant to the said order in council, transmit to his majesty a plan containing a full and exact description of the said one eighth part of the said provinces or territories, so set out and allotted to the said John Lord Carteret, annexed to their said report, and all which bounda- ries are marked out and ascertained by the said plan, a true and exact copy whereof is stampt on the fifth skin of these presents ; which said return of the said commissions his majesty was pleased The return of by his order in council, bearing date the twentyfirst of March last, J0ence°r^rXred to refer to the said lords of the committee of his most honorable to the commit- privy council, for them to consider thereof, and report their opinion J^^gjw Privy thereupon to his majesty in council ; and whereas the said right honorable the lords of the committee of his majesty's most hono- rable privy council for plantation affairs, did upon consideration thereof, by their report to his majesty in council, bearing date the ninth day of May last, reciting such orders, reports, and proceed- ings upon the said petition of the Lord Carteret as are herein before recited, agree humbly to report as their opinion, that his majesty Report of the might be pleased to approve of the said return and plan of the committee. allotment thereby made to the said Lord Carteret, for his one
28
GRANT TO EARL GRANVILLE.
Report of the committee, &c. approved by the king in council.
Tbe attorney and solicitor general ordered to prepare the deeds.
The king's grant to Lord Carteret for l-8th part of the provinces so allotted to him.
eighth part of both the provinces of Carolina, and that thereupon it might be advisable for his majesty to order his attorney and solicitor general to prepare the necessary instruments or deeds, conformable to what is contained in the afore mentioned reports of the fifteenth of September, one thousand seven hundred and forty- two, for conveying, releasing and confirming the said lands to the said Lord Carteret and his heirs, and likewise for the said Lord Carteret's surrendering up to his majesty all his pretensions to the government of the said provinces of Carolina, and for conveying, releasing, and confirming to his majesty, his heirs and successors, the other seven parts of the said provinces. And whereas on the said ninth of May last, his majesty in council, took the said report last above mentioned into consideration, and was pleased with the advice of his privy council to approve thereof, and also, of the return and plan thereto affixed, and of the allotment of land thereby made to the said Lord Carteret for his one eighth part of the province of Carolina, and his majesty did thereby order that Mr Attorney and Mr Solicitor General do prepare such instru- ments or deeds as are proposed by the said report, as by the said orders and reports, relation being thereunto respectively had may more fully appear.
Now this indenture witnesseth, that for and in consideration of the said John Lord Carteret surrendering, releasing and confirm- ing unto his said majesty, all his estate, right, title and interest of, in and to the government of the said provinces of Carolina, and of, in and to the said seven eighth parts divided from the said one eighth part so allotted to the said John Lord Carteret as aforesaid, of and in the aforesaid provinces or territories called Carolina, and also for and in consideration of the said John Lord Carteret's grant- ing and assigning unto his said present majesty all and every the arrears of quit rents and other sum or sums of money, debts, du- ties, accounts, reckonings, claims and demands whatsoever, which are now due and owing to his present majesty and to the said Lord Carteret from the farmers, tenants or inhabitants of the said seven eighth parts of the said provinces or territories, for the re- spective lands and tenements which are situate within, and part of the seventh eighth parts of the said provinces or territories as afore- said, his said present majesty, of his especial grace, certain knowledge and mere motion, hath been graciously pleased to give and grant, ratify, release and confirm, and by these presents for himself, his heirs and successors, doth give and grant, release, ratify and con- firm unto the said John Lord Carteret, his heirs and assigns for- ever, all that the said one eighth part of the said provinces and territories as the same is separated, set out and allotted to the said John Lord Carteret, by the said commissioners as aforesaid ; and the reversion and reversions, remainder and remainders, yearly and other rents, issues and profits of, in and to, and out of the said one eighth part of the said provinces and territories and every part and parcel thereof, and also all the estate, right, title, interest, trust, property, right of action, right of entry, claim and demand what-
GRANT TO EARL GRANVILLE. 29
soever of his said present majesty of, in and to the same, every or any part or parcel thereof, together with all and singular the like, and as ample rights, privileges, royalties, liberties, immuni- ties and franchises, of what kind soever, within the said one eighth part of the said provinces or territories so divided, set out, and allotted to the said John Lord Carteret as aforesaid, in as ample manner and form as the said John Lord Carteret, together with the said Henry Duke of Beaufort, William Lord Craven, James Bertie, Doddington Greville, Henry Bertie, Mary Dawson, Eliza- beth Moor, Sir John Colleton, Archibald Hutcheson, John Cot- ton and Joseph Blake, any or either of them could have held, used or enjoyed the same by virtue of the said recited letters patent, or either of them, in case the said act of parliament and conveyances herein before recited had not been made, except nevertheless, out Exceptions to of this grant, the said powers of making laws, calling or holding ^general of assemblies, erecting courts of justice, appointing judges orb' justices, pardoning criminals, creating or granting titles of honor, making ports or havens, taking customs or duties on goods laden or unladen, making and erecting counties, forts, castles and cities, or furnishing them with habiliments of war, incorporating cities, boroughs, towns, villages or any other place or places, raising, em- ploying or directing the militia, making war or executing martial law, exercising any of the royal rights of a country palatine, and of doing, using or exercising any other the prerogatives, pre-emi- nences, rights, jurisdictions and authorities of, belonging or re- lating to, the administration of the government of the said one eighth part of the said provinces. To have and to hold the said one eighth part of the said provinces and territories so divided, set out, and allotted to the said John Lord Carteret as aforesaid ; and all other the royalties, franchises, powers, privileges, lands, tenements, hereditaments and premises hereby given, granted, re- leased and confirmed, or intended so to be, with their, and every of their appurtenances (except as before excepted) unto the said John Lord Carteret, his heirs and assigns, to the use and behoof of the said John Lord Carteret, his heirs and assigns forever ; yielding and paying to his said majesty, his heirs and successors the annual rent of one pound thirteen shillings and four pence, payable at the feast of All Saints forever : And also one fourth 0fli 13f . 4^en part of all gold and silver ore, that shall be found within the said andl,-4tl? Part.
1 -ii c- i • i • i f ■ i of all arold and
one eighth part ol the said premises so separated as aloresaid. siiver ore.
And this indenture further witnesseth, that as well for the con- sideration aforesaid as for divers other good considerations there- unto especially moving, his said present majesty hath given, grant- ed and assigned, and by these presents doth, for himself, his heirs and successors, give, grant and assign unto the said John Lord Carteret, his executors, administrators and assigns, all the arrears Au arrears 0f of quit rent, sum and sums of money, debts, duties, accounts, quit-rents due reckonings, claims and demands whatsoever, now due and owing p°art H allotted, to his said present majesty, and the said John Lord Carteret, or also conveyed either of them, for or from the said one eighth part of the saidr°t_or
30 GRANT TO EARL GRANVILLE.
provinces and territories so divided, set out, and allotted to the said John Lord Carteret as aforesaid ; and all the right, title, in- terest, trust, property, benefit, advantage, claim and demand what- soever, of his said present majesty, of, in, and to the same. To have, hold, receive and enjoy the same arrears, sums of money, and premises herein last before given, granted and assigned unto the said John Lord Carteret, his executors, administrators and as- signs, to and for his and their own use and benefit.
Witnessed by the King, at Westminster, the day and year first above mentioned.
BY WRIT OF PRIVY SEAL.
TREATY OF PEACE
BETWEEN
AMERICA AND GREAT BRITAIN
BY THE UNITED STATES IN CONGRESS ASSEMBLED.
A PROCLAMATION.
Whereas definitive articles of peace and friendship between the United States of America and his Britannic majesty, were con- cluded and signed at Paris, on the third day of September, 1783, by the plenipotentiaries of the said United States and of his said Britannic majesty, duly and respectively authorised for that pur- pose ; which definitive articles are in the words following :
In the name of the JWost Holy and Undivided Trinity :
It having pleased the Divine Providence to dispose the hearts of the most serene and most potent Prince George the Third, by the grace of God, King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Lunenburgh, Arch-treasurer and Prince-elector of the holy Roman empire, &c, and of the United States of America, to forget all past misunderstandings and differences that have unhappily interrupted the good correspon- dence and friendship which they mutually wish to restore, and to establish such a beneficial and satisfactory intercourse between the The object of two countries, upon the ground of reciprocal advantages and mutual the £***? « to
* x o i tj csttibiisn 3. ben-
convenience, as may promote and secure to both perpetual peace eficial inter- and harmony ; and having for this desirable end already laid the course, Peace
* ^ . ... and n&rmony
foundation of peace and reconciliation, by the provisional articles between the
signed at Paris, on the thirtieth of November, 1782, by the com- two countries.
missioners empowered on each part, which articles were agreed to
be inserted in, and to constitute the treaty of peace proposed to
be concluded between the crown of Great Britain and the said
United States, but which treaty wras not to be concluded until
terms of peace should be agreed upon between Great Britain and
France, and his Britannic majesty should be ready to conclude
such treaty accordingly ; and the treaty between Great Britain and
France, having since been concluded, his Britannic majesty and
the United States of America, in order to carry into full effect the
32
TREATY OF PEACE.
provisional articles above mentioned, according to the tenor thereof, have constituted and appointed, that is to say, his Britan- nic majesty on his part, David Hartley, Esq., member of the parliament of Great Britain, and the said United States on their part, John Adams, Esq., late a commissioner of the United States of America at the court of Versailles, late delegate in congress from the State of Massachusetts, and chief justice of the said State, and minister plenipotentiary of the said United States to their high mightinesses the States-General of the United Netherlands ; Benjamin Franklin, Esq., late delegate in congress from the State of Pennsylvania, president of the convention of the said State, and minister plenipotentiary from the said United States of America at the court of Versailles ; and John Jay, Esq., late president of con- gress and chief justice of the State of New York, and minister plenipotentiary from the said United States at the court of Madrid, to be plenipotentiaries for the concluding and signing the present definitive treaty ; who, after having reciprocally communicated their respective full powers, have agreed upon and confirmed the following articles :
Great Britain Art. *• His Britannic majesty acknowledges the said United ^™ledges States, viz., New Hampshire, Massachusetts Bay, Rhode Island dence oTthe U. mid Providence Plantations, Connecticut, New York, New Jer- States, &c. sey, Pennsylvania, Delaware, Maryland, Virginia, North Carolina, South Carolina and Georgia, to be free, sovereign and independent States ; that he treats with them as such, and for himself, his heirs and successors, relinquishes all claims to the government, property and territorial rights of the same, and every part thereof. The boundaries Art. 2. And that all disputes which might arise in future, on SKS*6 subject of the boundaries of the said United States, may be tablished. ' prevented, it is hereby agreed and declared, that the following are and shall be their boundaries, viz. from the north west angle of Nova Scotia, viz. that angle which is formed by a line drawn due north from the source of St. Croix river to the Highlands, along the said Highlands, which divide those rivers that empty them- selves into the river St. Lawrence, from those which fall into the Atlantic ocean, to the north westernmost head of Connecticut riv- er ; thence down along the middle of that river to the forty fifth degree of north latitude ; from thence by a line due west on said latitude, until it strikes the river Irriquois or Cataraqui ; thence along the middle of the said river into Lake Ontario ; through the middle of the said lake until it strikes the communication by wa- ter between that lake and Lake Erie, through the middle of said lake, until it arrives at the water communication between that lake and Lake Huron, thence through the middle of said lake to the water communication between that lake and Lake Superior; thence through Lake Superior, northward of the Isles Royal and Phe- lipeaux to the Long Lake ; thence through the middle of said Long Lake and the water communication between it and the Lake of the Woods, to the said Lake of the Woods : thence through the said lake to the most north western point thereof, and from thence on a due west course to the river Mississippi ; thence by a
TREATY OF PEACE. 33
line to be drawn along the middle of the said river Mississippi un- til it shall intersect the northernmost part of the thirtyfirst degree of north latitude, south, by a line to be drawn due east from the determination of the line last mentioned in the latitude of thirtyone degrees north of the equator, to the middle of the river Apalachi- cola or Catahouche ; thence along the middle thereof to its junc- tion with the Flint river ; thence strait to the head of St. Mary's liver ; and thence down along the middle of St. Mary's river to the Atlantic ocean ; east by a line to be drawn along the middle of the river St. Croix from its mouth in the bay of Fundy to its source, and from its source directly north to the aforesaid High- lands which divide the rivers that fall into the Atlantic ocean from those which fall into the river St. Lawrence, comprehending all islands within twenty leagues of any of the shores of the United States, and lying between the lines to be drawn due east from the points where the aforesaid boundaries between Nova Scotia on the one part, and East Florida on the other, shall respectively touch the bay of Fundy and the Atlantic ocean, excepting such islands as now are or heretofore have been within the limits of the said province of Nova Scotia.
Art. 3. It is agreed that the people of the United States shall The citizens of
° , ii-i Trie l • J tneU. States to
continue to enjoy unmolested the right to take nsh of every kind continue to en-
on the Grand Bank, and on all the other banks of Newfoundland, jp^e right of
also in the gulph of St. Lawrence, and all other places in the sea, banks3 of New-
where the inhabitants of both countries used at any time heretofore f°und J?-nd, in
to fish. And also that the inhabitants of the United States shall Lawrence, &c.
have liberty to take fish of every kind on such part of the coast
of Newfoundland as British fishermen shall use, (but not to dry or
cure the same on that island) and also on the coasts, bays and
creeks of all others of his Britannic majesty 's dominions in Araer- Liberty to cure
ica ; and that the American fishermen shall have liberty to dry fish in the un-
and cure fish in any of the unsettled bays, harbors and creeks of 0f Novalscotia,
Nova Scotia, Magdalen islands and Labrador, so long as the same&c.
shall remain unsettled ; but so soon as the same or either of them
shall be settled, it shall not be lawful for the said fishermen to dry
or cure fish at such settlement without a previous agreement for
that purpose with the inhabitants, proprietors or possessors of the
ground.
Art. 4. It is agreed that creditors on either side shall meet Creditors to with no lawful impediment to the recovery of the full value, in lawful impedi- sterline money, of all bona fide debts heretofore contracted. mentstothe
4 ° _ t • ii in i i • recovery of bo-
Art. 5. It is agreed that congress shall earnestly recommend it na fide debts. to the legislatures of the respective states to provide for the resti- Congress to re- tution of all estates, rights and properties, which have been con- Xte^toVro fiscated, belonging to real British subjects ; and also of the estates, vide for the res- rights and properties of persons resident in districts in the posses- g^ted estates" sion of his majesty's arms, and who have not borne arms against &c. the said United States ; and that persons of any other description 12 months al- shall have free liberty to go to any part or parts of any of the thirteen persons to en- United States, and therein to remain twelve months unmolested in deavortorecov- their endeavors to obtain the restitution of such of their estates, &<.. '
VOL. II.
34
TKEATY OF PEACE.
rights and properties, as may have been confiscated ; and that con- gress shall also earnestly recommend to the several states a re-con- sideration and revision of all acts or laws regarding the .premises, so as to render the said laws or acts perfectly consistent, not only with justice and equity, but with that spirit of conciliation, which, on the return of the blessings of peace should universally prevail ; Confess to re- and that congress shall also earnestly recommend to the several SSstates' that the estates,, rights and properties of such last mentioned deration of their persons shall be restored to them, they refunding to any persons ingcoXc™" who may be now in po/sessfon,^. jpnajjde price (where any has tions, &c. been given) which such persons may have paid on purchasing any of the said lands, rights or properties since the confiscation.
rnrin0tnerestaSn% And # is aSre.ed that a11 Persons who have any interest in con- confiscated nscated lands, either by debts, marriage settlements or otherwise
25S1MmeetwitlinolawfQl impediment in the prosecution of their rights. just rights.
ai7prosec°unS Art" 6' . That there sha11 be no future confiscations made, nor
tions to cease, any prosecutions commenced against any person or persons, for
&c- or by reason of the part which he or they may have taken in the
present war ; and that no person shall, on that account, suffer any
future loss or damage, either in his person, liberty or property ; and
that those who may be in confinement on such charges, at the time
of the ratification of the treaty in America, shall be immediately
set at liberty, and the prosecutions so commenced be discontinued.
peralpelceT, . Art- 7 \ Tbere sha11 be * fern and perpetual peace between
prisoners to be his Britannic majesty and the said States, and between the subjects
S-oeTnottobe^ tb<: one and the citizens of the other ; wherefore all hostilities carried away; both by sea and land shall from henceforth cease ; all prisoners on flreTtseStoabe both sitIes sha11. be set at liberty, and his Britannic majesty shall, withdrawn; ar- with all convenient speed, and without causing any destruction, or S-'tobSStoE?8?^ away any negroes or other property of the American to- ed, &c. habitants, withdraw all his armies, garrisons, and fleets, from the said United States, and from every post, place and harbor within the same, leaving in all fortifications the American artillery that may be therein ; and shall also order and cause all archives, re- cords, deeds and papers belonging to any of the said states, or their citizens, which in the course of the war may have fallen into the hands of his officers, to be forthwith restored, and delivered to the proper states and persons to whom they belong. SrMSsippi Art- 8- The navigation of the river Mississippi from its to be free to source to the ocean, shall forever remain free and open to the both nations. SUDjects of Great Britain and the citizens of the United States. Se before Art- $• In case it should so happen that any place or terri- the arrival of tory belonging to Great Britain or to the United States should anicFeMoS1bealhave been conqi,ered by the arms of either from the other, before restored. the arrival of the said provisional articles in America, it is agreed that the same shall be restored without difficulty, and without re- quiring any compensation. £SS£S? ART;. 10- /he solemn ratifications of the present treaty, ex- in six months, pedited in good and due form, shall be exchanged between the con- tracting parties in the space of six months, or sooner, if possible, to be computed from the day of the signature of the present treaty.
TREATY OF PEACE.
In witness whereof, we the undersigned, their ministers plenipoten- tiary, have in their name, and in virtue of our full powers, signed with our hands the present definitive treaty, and caused the seals of our arms to be affixed thereto,
Done at Paris, this third day of September, in the year of our Lord one thousand seven hundred and eightythree.
(L. S.) JOHN ADAMS. (L. S.) DAVID HARTLEY, (L. $.) B. FRANKLIN.
(L. S.) JOHN JAY.
And we the United States in congress assembled, having seen and duly considered the definitive articles aforesaid, did, by a cer- tain act under the seal of the United States, bearing date this four- teenth day of January, 1784, approve, ratify and confirm the same, and every part and clause thereof, engaging and promising that we would sincerely and faithfully perform and observe the same, and never suffer them to be violated by any one, or transgressed in any manner, as far as should be in our power : and being sincerely disposed to carry the said articles into execution truly, honestly, and with good faith, according to the extent and meaning thereof, we have thought proper, by these presents, to notify the premises to all the good citizens of these United States, hereby requiring and enjoining all bodies of magistracy, legislative, executive and judiciary, all persons bearing office, civil, or military, of what rank, degree or powers, and all others the good citizens of these States of every vocation and consideration, that reverencing those stipulations entered into on their behalf, under the authority of that federal bond by which their existence as an independent people is bound up together, and is known and acknowledged by the nations of the world, and with that good faith which is every man's surest guide, within their several offices, jurisdictions and vocations, they carry into effect the said definitive articles, and every clause and sentence thereof, sincerely, strictly and completely.
Given under the seal of the United States. Witness his Excellency THOMAS MIFFLIN, our president, at Annapolis, this fourteenth day of January, in the year of our Lord one thousand seven hundred and eightyfour, and of the sover- eignty and independence of the United States, the eighth.
(L. C. S.) THOMAS MIFFLIN. Charles Thomson, Secretary.
35
At a General Assembly, begun and held at Tarborough, on the eighteenth day of Novem- Richard Cas- ber, in the year of our Lord one thousand seven hundred and eightyseven, and in the well, Esq. gov~ twelfth year of the independence of the said State : Being the first session of the ernor. said Assembly.
An act declaring the treaty of peace between the United States of America and the King of Great Britain, to be part of the law of the land.
1 . Be it enacted, fyc. That the articles of the definitive treaty Treaty with G. between the United States of America and the King of Great the law o°f the Britain, are hereby declared to be part of the law of the land. laud-
2. And be it further enacted, That the courts of law and equity 2°Cordu10lJUdge are hereby declared in all causes and questions cognizable by them respecting the said treaty to judge accordingly.
BANKS.
BANK OF CAPE FEAR.
AN ACT FOR ESTABLISHING A BANK IN THE TOWN OP WILMING-
TON.
(Passed in the year 1804.)
Whereas the increase of population and commerce in the districts of Wilmington and Fayetteville, renders it expedient that Preamble. a bank should be established for their accommodation in the town of Wilmington :
1. Beit enacted, #c, That a bank shall be established in the Capital stock, town of Wilmington, the capital stock whereof shall not exceed
two hundred and fifty thousand dollars, divided into shares of one hundred dollars each ; but in the mean time, subscriptions towards |j$JJg£jf constituting one hundred thousand dollars of said stock shall be opened ; that is to say, at Wilmington on die first Monday in April next, for five hundred shares, under the superintendence of George Hooper, John London, John Hill, John Hogg, Richard Bradley, William Giles and Henry Watters ; and on the same day at Fayetteville, for five hundred shares, under the superin- tendence of John Winslow, David Anderson, William B. Grove, Duncan M'Leran, Robert Holliday, Peter Perry and Simeon Belden. And a majority of said commissioners, at the places above mentioned respectively, shall be sufficient to perform the duties of their appointment ; and it shall be competent for the corporation created by this act to proceed to fill up, in whole or part, the remaining fifteen hundred shares, by subscriptions to be opened at the above places, respectively, at such time, and under such commissioners, as they may appoint, giving three months no- tice thereof in the Wilmington, Newbern and State Gazettes.
2. And be it further enacted, That the amount of the share or Subscriptions shares subscribed for shall be paid by the several and respective J?old JfsilveV. subscribers, in gold or silver, onefourth thereof at the time of subscribing, to the said commissioners, and onefourth within sixty when paid, days after the bank shall go into operation, onefourth within one hundred and twenty days, and onefourth in six months, to the bank directors for the time being : Provided always, That it shall be
lawful for any subscriber to pay the whole of his subscription money, or any greater part than is hereby required, before the
38 BANK OF CAPE FEAR.
time limited for the same ; and each and every subscriber so pay- ing in advance, shall have a discount at the rate of six per centum per annum on such advance, computing from the commencement of the operation of the said bank ; and any person or persons fail- Forfeiture on jng to pay any instalment at the time herein appointed, shall forfeit to the corporation the sum or sums by him or them before paid, and shall thenceforth cease to be a member thereof ; and it shall be competent for the corporation to supply any deficiency occa- sioned by any such delinquency, by sale or otherwise, as they may deem proper. Subscribers in- 3. And be it further enacted, That the subscribers to the said corporated. bank, their successors and assigns, shall be, and are hereby created and made a corporation and body politic, in law and in fact, by the name and style of " The President, Directors and Company of the Bank of Cape Fear," and shall so continue until the first day of January, one thousand eight hundred and twenty, and by the name and style aforesaid, they shall be, and are hereby made able and capable in law, to have, purchase, receive, possess, enjoy and retain, to themselves and their successors, lands, rents, tene- ments, hereditaments, goods, chattels and effects, to an amount not exceeding in the whole (including the amount of the capital stock aforesaid) six hundred thousand dollars, and the same to sell, grant, demise, alien or dispose of, to sue and be sued, implead and be impleaded, answer and be answered, defend and be de- fended, in courts of record or any other place whatsoever ; and also to make, have and use, a common seal, and the same to break, alter and renew at their pleasure ; and also to ordain, establish and put in execution, such bylaws, ordinances and regulations, as shall seem necessary for the government of the said corporation, not being contrary to the constitution of this State, or of the United States, or of the said corporation ; for which purpose, general meetings of the stockholders shall and may be called by the direc- tors as hereinafter specified, and generally to do and execute all such acts, matters and things as to them shall and may appear ne- cessary : subject nevertheless to the rules, regulations and restric- tions hereinafter declared and prescribed. To be eleven 4. And be it further enacted, That for the well ordering of the directors elect- affairs of the said corporation, there shall be eleven directors, be- ing citizens of this State, of whom at least seven shall be residents of Wilmington, or within fifteen miles thereof, elected yearly by the stockholders, at a general meeting to be held annually at Wil- mington, on the first Monday in January ; provided the first elec- tion of directors shall not be included in the before mentioned general regulation, but shall be held at the time and in the manner hereinafter directed ; and provided that in case it should at any time happen that an election of directors should not be made on The corpora- any day when pursuant to this act it ought to have been made, tion n°t to dis- the Said corporation shall not for that cause be dissolved, but it tors be not " shall be lawful on any other day within ten days thereafter, to hold elected. and make an election for directors, in such manner as shall be
regulated by the laws and ordinances of the said corporation ; and
BANK OF CAPE FEAR. 39
that in case of the death, resignation or absence from the State, of any director, his place shall be filled up by a new choice for the remainder of the year by a majority of the directors.
5. Jlnd be it further enacted, That on the first day of May The manner of next, and every thirty days thereafter, if the subscription shall nbt^jj^jj18 be sooner closed, the commissioners appointed at Fayetteville,
shall transmit and deliver to the commissioners appointed at Wil- mington, a list of the several subscribers at such place, and the share or shares to each and every subscriber belonging, together with the full amount of the subscription money by the said com- missioners received as aforesaid ; for which amount the receipt in writing of the said commissioners appointed in and for the town of Wilmington, or a majority of them, shall be a sufficient acquittance and discharge to the persons respectively paying the same ; and as soon as the sum of twentyfive thousand dollars in the manner afore- said shall be actually received on account of the subscription to the said capital stock of the said bank, notice thereof shall be given by the commissioners appointed in and for the town of Wil- mington, in the Wilmington and State Gazettes, and the same per- When $25,000 sons shall at the same time notify a time and place within the said ^k^eokto town at the distance of twenty days from the time of such notifi- operation, cation, for proceeding to the choice of directors ; and it shall be lawful for such election to be then and there made, and the eleven persons who shall then and there be chosen, shall be the first di- rectors and shall be capable of serving until the first Monday in January thereafter or until their successors shall be duly elected ; and the said directors shall forthwith commence the operations of the said bank at the town of Wilmington.
6. Jlnd be it further enacted, That it shall be lawful for the A branch bank corporation to establish a branch of said bank, whensoever they ™sYed at FW- shall think fit, at and in the town of Fayetteville, for the purpose etteville.
of discount and deposite only, and upon the same terms and in the same manner as shall be practised at the bank in Wilmington, and to commit the management of the said office or branch, and the making of the said discounts, to such persons under such agreements, and subject to such regulations as they shall deem proper, not contrary to the constitution of this State, the United States, or of this corporation : subscriptions may be made in per- son or by proxies appointed in writing.
7. And be it further enacted, That the directors for the time Directors to ap- being shall have power to appoint such officers, clerks and servants P01I£ °fficers> under them, as they shall deem proper, and regulate their respec- tive duties and compensation, and shall be capable of exercising
such other powers and authorities as shall be described, fixed and determined by the laws, regulations and ordinances of the corpo- ration.
8. Jlnd be it further enacted, That the following rules, res trie- Fundamental tions, limitations and provisions, shall form and be the fundamental arttf!^L„f
' 1 ' t constitution 01
articles of the constitution of the said corporation : The number of the bank, votes to which each stockholder shall be entitled, shall be accord- ing to the number of shares he shall hold, one vote for each share ;
40
BANK OF CAPE FEAR.
they shall have a right to vote by a proxy, he being a stockholder : No director shall receive any emolument ; the stockholders may allow a salary or other compensation to the president : No less than five directors shall constitute a board for the transaction of business, of whom the president shall always be one, unless in case of sickness or necessary absence, he shall appoint by a written in- strument a director to fill his place : A number of stockholders, not less than twenty five, being altogether owners of fifty shares, shall have power to demand a general meeting, and the president shall call one within thirty days after the communication of their request : Every cashier shall give bond and security, before he enters on the duties of his office, in the sum of ten thousand dol- lars, and the other officers, clerks or servants of the corpora- tion, shall give such security as the directors shall require : The stock of the said corporation shall be transferable and aliena- ble, according to such rules and regulations as the corporation shall, from time to time, make for that purpose : Bills, bonds and notes, subscribed by the president, and countersigned by the cashier, shall be binding and obligatory upon the corporation : Half-yearly dividends shall be made of such part of the profits of the bank as shall appear advisable : The total amount of notes emitted or thrown into circulation by the said corporation, together with their debts of every description, shall not at any time exceed the sum of seven hundred and fifty thousand dollars, over and above the moneys then actually deposited in the bank for safe keeping ; and in case of excess, the directors under whose administration it shall happen, shall be liable for the same in their natural private capacities, and an action of debt may in such case be brought against them, or any of them, or their heirs, executors or administrators, in any court of record, by any creditor or creditors of the said corporation, and may be prosecuted to judgment and execution ; any condition, covenant or agreement to the contrary notwithstand- ing : Provided, That any of the directors who may have been ab- sent, or have dissented from the resolution or act whereby such excess was contracted or created, may respectively exonerate themselves from being so liable, by forthwith entering their protest with and before a notary public, and to the stockholders at a gen- eral meeting, which they shall have power and are hereby required and directed to call for that purpose : None but a stockholder, being a citizen of this State, shall be eligible as a director : The lands, tenements and hereditaments which it shall be lawful for the said corporation to hold, shall be only such as shall be requisite for its immediate accommodation in relation to the convenient transacting of its business, and such as shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfac- tion of debts previously contracted in the course of its dealings, or purchased at sales on judgments, which shall have been obtained for such debts : Nor shall this corporation, directly or indirectly, deal or trade in any thing except bills of exchange, gold or silver bullion, or in the sale of goods really and truly pledged for money lent and not redeemed in due time, or in goods the produce of its
BANK OF CAPE FEAR. 41
lands ; neither shall the said corporation take more than the rate of a half per centum for thirty days, for or on account of its loans or discounts.
9. And be it further enacted, That it shall and may be lawful The State may for the State of North Carolina, at any time within three years esteTilTh"" from and after the passing of this act, to become interested in said bank, bank, to an amount not exceeding two hundred and fifty shares
of one hundred dollars each ; and on the payment into the said bank by the State for any shares she may deem it advisable so to take, it shall be lawful thenceforward for the said corporation to issue notes founded on such extension of capital, in the same ratio as is iierein before provided on the original stock created by virtue of 'his act.
10. And be it further enacted, That the commissioners ap- A house, &c. to pointed by this act for receiving subscriptions in the town of Wil- e pr0V1 e ' mington, shall, immediately after a sufficient number of shares are
taken, provide a house for carrying on the business of the bank, together with all necessary paper, stationery, vaults and utensils suitable to the same, so that as soon as the directors are chosen, the operations of the said bank may be immediately prosecuted and carried into effect.
(Section 11, repealed by the act of 1814.)
AN ACT TO AUTHORIZE THE TREASURER, IN THE NAME OF TITS STATE OF NORTH CAROLINA, TO SUBSCRIBE IN THE BANKS OF CAPE FEAR AND NEWBERN FOR THE NUMBER OF SHARES WHICH THE STATE HAS RESERVED THE RIGHT OF SUBSCRIBING FOR IN EACH OF THE SAID BANKS.
(Passed in the year 1S07. So far as regards the bank of Newbern expired, that bank having ceased to exist in 1337.)
1. Be it enacted, fyc. That the public treasurer be, and he is Treasurer to hereby authorized to subscribe in either or both of said banks, at subscribe for such time as he shall deem it expedient, and he and the directors each bank."1 of said banks, or either of them, shall agree on, for two hundred and fifty shares of bank stock, on the following terms and condi- tions, to wit : That he pay at the time of subscribing, out of any moneys of the currency of the State in the public treasury, one-Mannerof third of the amount of said shares ; that he pay at the expiration ing for the of twelve months thereafter one other third of the said amount, shares- and at the expiration of twelve months after the payment of the last mentioned third, the remaining third and full amount of said shares ; and that for the deferred payments he pay an interest, at the rate of four per centum per annum from the time of subscribing : Provided, however, that after paying the last instalment to either of the afore- said banks, the treasurer shall be authorized to borrow therefrom the amount of the said instalments from time to time, on the terms on which loans are made therein, until the dividends received be sufficient to pay off the sum borrowed.
VOL. II. 6
42
BANK OF CAPE FEAR.
Treasurer, &c. 2. And be it further enacted, That the treasurer, together with dSXor Wt^e comptroller and secretary, or any two of them, be authorized each bank. and empowered to appoint three additional directors of each or both of the banks, in which subscriptions shall be made as afore- said, and the directors for each or either of said banks so appoint- ed, shall possess the same qualifications, have the same power, and be subject to the same rules, regulations and restrictions as the other directors, which shall be chosen by the stockholders. The notes of 3. And be it further enacted, That in case the directors of said be^ceSin0 banks respectively, or either of them, shall accept of the above- payment of pub- stated terms, and the subscriptions shall be made by the treasurer thedtreasurny. * for the number of shares first above stated, then and in that case the bank-notes of the bank or banks in which the said subscriptions shall be made, shall be and are hereby declared to be receivable in payment of all public dues, and at the public treasury. Offices of dis- 4. And be it further enacted, That it shall he lawful for the established.'6 president and directors of each of the aforesaid banks to establish offices of discount, or offices of discount and deposit, at other places than the towns wherein the said banks are fixed, or where by their respective charters, branches may be established ; pro- vided that not more than two such offices, other than aforesaid, shall be established and kept in existence by either of the banks at the same time, and that the management of such offices be com- mitted to such persons, and under such agreements, and subject to such regulations as the president and directors respectively may deem proper, not contrary to the constitution of this State, or of the United States, or of the aforesaid corporations. Provided, also, that no office of discount, or of discount and deposit, shall be established by either of the said banks, unless they accede to the terms of subscription proposed by this act on the part of the State. Power to issue 5- Be *' further enacted, That the said banks, inconsequence additional , of any subscription by the treasurer in behalf of the State, shall J have power to issue notes only in the same ratio as that established by their respective charters, that is to say, in the ratio of three for one, on the amount of its capital stock actually subscribed and paid for, over and above the money deposited for safe keeping.
notes.
AN ACT TO CONTINUE IN FORCE CERTAIN ACTS CONCERNING THE BANKS OF CAPE FEAR AND NEWBERN, AND FOR OTHER PURPOSES CONCERNING THE SAID BANKS.
(Passed in the year 1814. So far as regards the bank of Newbern the act has ex- pired, and it is corrected accordingly.)
1. Be it enacted, tyc. That the act entitled " An act to estab- lish a bank in the town of Wilmington," passed in the year one thousand eight hundred and four, and all other acts subsequently passed, relating to the management, direction and affairs of said
BANK OF CAPE FEAR. 43
bank, be, and the same are hereby continued in force until the first day of January, one thousand eight hundred and thirtyfive, except as hereinafter provided for. flJ... .
2. Be it further enacted, That the president and directors of Adgtunl the bank of Cape Fear, shall be, and they are hereby authorized to add to the capital stock of said bank five thousand two hun- dred and fifty shares of one hundred dollars each.
3 Be it further enacted, That the president and directors of the bank of Cape Fear shall within six months after notice given to the governor of this State in the manner hereinafter pre- scribed, of the acceptance of the amended charter by the stock- holders in the said bank, open books for receiving subscriptions to the said stock at the city of Raleigh, and the towns ol W ll- places for mington, Newbern, Fayetteville, Edenton, Halifax, Hillsborough, JRgjg£. Washington, Warrenton, Salisbury, Tarborough, Morganton, Pittsborough, Salem, Rutherfordton, Plymouth, Murfreesborough and Greensborough, and in Nash county ; and keep the same open for receiving subscriptions to the said stock until the whole stock authorized by this act shall be subscribed. But all shares not sub- scribed for within forty days after opening the books as aforesaid shall be sold and disposed of by the said president and directors at such price as they may think proper, not exceeding an advance ol ten dollars on each share ; and purchasers of shares after the ex- piration of the said forty days shall pay down at the time of sub- scribing, with the first instalment, the advance required by the said president and directors, and shall then stand upon the same loot- ing with those who subscribe within the said forty days according to the payments they may have made.
4. Be it further enacted, That ten dollars upon each share sub- Times for pay- scribed shall be paid at the time of subscribing, and the remaining ninety dollars in payments of ten dollars every sixty days there- after until the whole shall be paid ; the said deferred payments bearing interest at the rate of six per centum per annum until paid ; and it shall be at the option of each subscriber to fill up his share or shares by payment of the residue of the money due thereon ; and each subscriber paying in advance shall have a discount at the rate of six per centum per annum on such advance. When hlty dollars on any share shall be paid, the holder thereof shall be en- titled to receive dividends on the whole share ; and on failure to make payment punctually of any of the said first-mentioned five instalments on every share, the subscriber so failing shall forfeit shares forfeit- to the use of the company, all the money that has been previously «l paid on such share : and such share shall be sold by the president and directors for the benefit of the company, but there shall be no forfeiture after the payment of fifty dollars on each share.
5. Be it further enacted, That the president and directors of Bankregred said bank shall at all times from and after the passing Ox this act State. and during the continuance of the same, be bound and obliged to make a loan or loans to the State of North Carolina, if required and authorized by law, of any sum or sums of money not exceed- ing in the whole at any one time one tenth part of the actual stock
44
BANK OF CAPE FEAR.
1 ,000 shares re served to the State.
Dividends ac- cruing to the State.
Election of stockholders.
of said bank, and at a rate of interest not exceeding six per cen- tum per year to be paid yearly : Provided, that it shall be the duty of the treasurer to make application in writing to the president and directors of said bank for such loan or loans at least three months previous to the time when such loan or loans shall be required. . 6. Be it further enacted, That of the shares hereby allowed to be subscribed to the stock of the said bank, one thousand shares shall be reserved for this State and subscribed by the treasurer immediately upon the opening of the books for receiving subscriptions as afore- said : and as a consideration of this amended charter granted to the said bank, the State shall be entitled to one hundred and eighty shares of the said one thousand shares in the bank aforesaid, with- out paying any thing therefor ; and at the expiration or earlier dis- solution of the charter, the president and directors of the bank shall pay to the treasurer for the use of the State the same rate of divi- dend on the said shares, together with the shares, as may be paid to other stockholders ; and shall be entitled to make payment for four hundred and ten shares in the said bank in treasury notes to be issued as hereinafter directed ; and shall be entitled to make payment for the remaining four hundred and ten shares at any time or times she may think proper during the continuance of this act, and shall not be bound to pay to the said bank interest upon the shares not paid for. But the interest which may accrue thereon shall be accounted for as hereinafter directed.
7. Be it further enacted, That the State shall be entitled to re- ceive full dividends upon the one hundred and eighty shares, men- tioned in the preceding section : and like dividend upon four hun- dred and ten shares, to be paid for in treasury notes after the se- cond dividend to be declared by the said president and directors after the first day of February next ; and from and after the de- claration of the said second dividend, the State shall be entitled to receive whatever sum shall accrue upon the remaining four hun- dred and ten shares over and above six per centum per year, and the same dividend shall be declared upon the said remaining shares, as upon shares which have been fully paid for.
8. Beit further enacted, That at all meetings of the stock- holders of the said bank, and at all elections for directors, the go- vernor for the time being, or such other person or persons as he or the legislature may from time to time appoint, shall act on be- half of the State ; and shall have the same number of votes, to which the greatest number of stockholders may be entitled pos- sessing an equal number of shares, with those owned by the State at the time of such election ; and the number of votes to which each stockholder shall be entitled, except the State, shall be ac- cording to the number of shares he shall hold in the proportions following, that is to say : for one share and not more than two shares one vote ; for every four shares above ten, and not exceed- ing thirty, one vote ; for every six shares above thirty, and not exceeding sixty, one vote ; for every eight shares above sixty, and not exceeding one hundred, one vote ; and for every ten shares above one hundred, one vote ; but no person, copartnership or
BANK OF CAPE FEAR. 45
body politic shall be entitled to a greater number than thirty votes. No share or shares shall confer a right of suffrage which shall not have been holden three calendar months previous to the day of election. Stockholders actually resident within the State, and none other may vote in elections, and at general meetings of the stockholders, by proxy ; none but a stockholder being a citizen of the State, and holding at least ten shares, shall be eligible as a di- rector of the principal bank, nor shall a director of any other bank, be eligible as a director of the said bank. Eleven principal di- rectors shall be elected by the stockholders at their annual meet- ing for the well ordering of the affairs of the said corporation, seven of whom shall reside in the town of Wilmington. The board of principal directors shall appoint annually the directors of the several branches and agencies ; and other officers required at the said branches and agencies.
A number of stockholders not less than thirty, who together Calling of shall be proprietors of one hundred shares or upwards, shall have st0° ers' power at any time to demand a general meeting of the stockhold- ers for purposes relative to the said corporation: And upon such de- mand the president of the bank shall call such meeting, giving at least four weeks' notice in a public gazette published in the city of Raleigh, and specifying in such notice, the object or objects of such meeting. Every cashier of the said bank before he enters Cashiers shall upon the duties of his office shall be required to give bond with ferity two or more securities to the satisfaction of the directors, in a sum not less than ten thousand dollars with condition for his good be- havior. The total amount of the debts which the said corpora- Restriction in tion shall at any time owe, whether by bond, bill, note or other 1&counts- contract, shall not exceed the sum of two millions four hundred thousand dollars, over and above the sum then actually deposited in the said bank for safe keeping, unless the contracting of any greater debt shall have been previously authorized by a law of this State.
In cases of excess, the directors under whose administration it Directors liable shall happen shall be liable for the same in their natural and pri- lncertamcases- vate capacities ; and an action of debt may in such case be brought against them, or any of them, their or any of their heirs, executors or administrators, in any court of record of this State, by any creditor or creditors of said corporation, and may be pros- ecuted to judgment and execution : any condition, covenant or agreement to the contrary notwithstanding : But this shall not be construed to exempt the said corporation, or the lands, tenements, goods, or chattels of the same from being also liable and chargea- ble with the said excess ; such of the said directors who ma)^ have been absent when the said excess was contracted, or created, or may have dissented from the resolution or act, whereby the same was so contracted or created, may respectively exonerate them- selves from being so liable, by forthwith giving notice of the fact, and of their absence or dissent, with or before some notary public, and to the stockholders at a general meeting, which they shall have power to call for that purpose.
46
BANK OF CAPE FEAR.
issuing notes less than one dollar.
Tax of one per cent.
when re- The treasurer of this State shall be furnished from time to time,
urerto be for- as often as he may require, not exceeding once in three months, nished with a with a statement of the amount of the capital stock of the said the situation of corPorati°n? and of the debts due; of the moneys deposited, of the bank. the notes in circulation, and of the cash on hand, and shall have a right to inspect such general accounts in the books of the corpora- tion, as shall relate to the said statements : Provided, that this shall not be construed to a right of inspecting the account of any private individual or individuals with the said bank.
(Sec. 9, obsolete.)
Parts of former 10. Be it further enacted, That the president and directors of aCdthPb nk' tne sa'^ Dank of Cape Fear shall not issue any note or notes un- prohibited fromder the sum of one dollar ; and from and after the first day of July next, the eleventh section of an act passed in the year one thou- sand eight hundred and four, entitled " An act to establish a bank in the town of Wilmington," shall be repealed and made void.
(The rest of this section has had its operation.)
1 1 . Be it further enacted, That a tax of one per cent, per an- num shall be levied on all stockholders in the bank of Cape Fear except on the stock holden by this State, which shall be paid to the treasurer of this State, by the president or cashier of said bank, on or before the first day of October in each and every year.
(Sect. 12, relating to the issue of treasury notes for payment of stock, has had its op- eration.)
1 3. Be it further enacted, That the president of the bank of Cape Fear shall make known to the governor of this State in writing, within four months after the first day of January next, the acceptance of this amended charter ; and in case of failure to do so, this act and every part thereof shall become void, and of none effect.
(Sections 14, 15 and 16 of this act never had any effect, their provisions being condi- tional and temporary and are therefore omitted.)
17. And be it further enacted, That the president and direc- tors of said bank may establish branches or agencies of their said bank at such place or places within this State, as they may think proper, and commit the management of said branches and agencies and the making discounts thereat to such persons as they may deem proper : Provided, that at each branch or agency so to be established, there shall be appointed not less than three directors, and that no such branch or agency shall be removed after its es- tablishment unless directed by the stockholders in their general meeting.
Acceptance of this act to be communicated to the srovernor
Branches or agencies.
AN ACT TO PROVIDE FOR THE REPRESENTATION OF THE STOCK OF THIS STATE IN MEETINGS OF THE STOCKHOLDERS OF THE BANKS OF THIS STATE.
(Passed in 1323. — Repealed by the provisions of the act of 1833; so far as regards the bank of Cape Fear.)
BANK OF CAPE FEAR. 47
AN ACT TO ENABLE THE BANKS OF NEWBERN AND CAPE FEAR TO WIND UP GRADUALLY AND TO FIX A UNIFORM RATE OF COL- LECTION.
(Passed in 1329.— Repealed so far as regards the bank of Cape Fear in 1833.)
AN ACT TO RECHARTER THE BANK OF CAPE FEAR. (Passed in the year 1833.)
Whereas, by the provisions of an act, passed in the year of our Lord one thousand eight hundred and four, entitled, " An act for establishing a bank in the town of Wilmington," the subscribers Preamble, to the stock of said bank were incorporated under the name and style of the " President, Directors and Company of the Bank of Cape Fear ;" and whereas, by a subsequent act, passed in the year of our Lord one thousand eight hundred and fourteen, en- titled " An act concerning the banks of Cape Fear and Newbern," the capital of said bank was increased, and its existence as a cor- poration extended to the first of January, in the year of our Lord one thousand eight hundred and thirtyfive ; and whereas it is ex- pedient now to continue the corporate privileges of the said bank for a further term :
Be it therefore enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That the stockholders in the said bank, their successors and Corporation assigns, shall be, and continue a body corporate, in law and in ^g^S of" fact, under the name and style of the " President, Directors and s,ooo shares, Company of the Bank of Cape Fear," with a capital stock 0f j^/""""*1' eight thousand shares, of one hundred dollars each, until the first day of January, one thousand eight hundred and fiftyfive ; and by the name and style aforesaid, shall be, and are hereby made able and capable in law to have, purchase, receive, possess, enjoy and retain, to themselves, their successors and assigns, lands, rents, tenements, hereditaments, goods, chattels and effects, to an amount not exceeding in the whole, including the amount of capital stock aforesaid, two millions four hundred thousand dollars, and the same to sell, grant, demise, alien or dispose of, to sue and be sued, implead and be impleaded, answer and be answered, defend and be defended, in courts of record, or any other place whatso- ever ; and also to make, have and use a common seal, and the same to break, alter and renew at their pleasure ; and also to or- dain, establish and put into execution such bylaws, ordinances and regulations, as shall seem necessary for the government of the said corporation, not being contrary to the constitution of this State or of the United States, or of the said corporation ; for the making whereof general meetings of the stockholders may be called by the directors, as hereinafter specified ; and generally to do and execute all such acts, matters and things, as to them shall and may
48
BANK OF CAPE FEAR.
How the State shall be repre- sented in meet- ings of stock- holders, &c.
Stockholders how to vote.
How to call a general meet- ing of stock- holders.
Number of di- rectors, and how to be elected.
Proviso.
Election of president.
appear necessary, subject, nevertheless, to the rules, regulations and restrictions hereinafter declared and prescribed.
2. Be it further enacted, That at all meetings of the stock- holders of the said bank, and at all elections for directors, the governor for the time being, or such other person or persons as he or the legislature may from time to time appoint, shall act on behalf of the State, and shall have the same number of votes to which the greatest number of stockholders may be entitled, pos- sessing an equal number of shares with those owned by the State at the time of such election ; and the number of votes to which each stockholder shall be entitled, except the State, shall be ac- cording to the number of shares he shall hold, in the proportions following : that is to say, for one share, and not more than two shares, one vote ; for every two shares above two, and not ex- ceeding ten, one vote ; for every four shares above ten, and not above thirty, one vote ; for every six shares above thirty, and not exceeding sixty, one vote ; for every eight shares above sixty, and not exceeding one hundred, one vote ; and for every ten shares above one hundred, one vote ; but no person, copartner- ship, or body politic, shall be entitled to a greater number than sixty votes, nor shall any share or shares confer aright of suffrage, which shall not have been holden three calendar months previous to such meeting ; nor shall any stockholder be entitled to vote in elections, or any general meeting, by proxy, unless he be actually a resident within the State.
3. Be it further enacted, That any number of stockholders, not less than thirty, who together shall be proprietors of one hun- dred shares or upwards, shall have power, at any time, to demand a general meeting of the stockholders, for purposes relating to the said corporation ; and upon such demand, the president of the bank shall call such meeting, giving at least four weeks' notice in a public gazette published in the city of Raleigh, and specifying in such notice the object or objects of such meetings.
4. Be it further enacted, That for the well ordering the affairs of the said corporation, there shall be eleven directors, being citi- zens of this State, of whom at least seven shall be residents of Wilmington, or within fifteen miles thereof, elected yearly by the stockholders, at a general meeting to be held annually at Wilming- ton, on the first Monday in January ; Provided, that in case it should at any time happen that an election of directors should not be made upon the day when, pursuant to this act, it ought to have been made, the said corporation shall not for that cause be dis- solved, but it shall be lawful, on any other day, within ten days thereafter, to make an election for directors, in such manner as shall be regulated by the law and ordinances of the said corpora- tion ; and that in case of the death, resignation or absence from the State of any director ,his place shall be filled by a new appoint- ment, for the remainder of the year, by a majority of the direc- tors.
5. Be it further enacted, That the president of the bank, being a director, shall be chosen by a majority of the directors, with a
BANK OF CAPE FEAR.
49
a director, shall be chosen by a majority of the directors, with a resident and salary to be fixed by the stockholders in general meeting ; and the establish may president and directors of the principal bank for the time being branches, &c. shall have power to establish branches or agencies of the said bank at such place or places within this State, as they may think proper, and commit the management of such branches or agencies and the making discounts thereat, to such persons as they may select : Provided, that at each branch or agency so es-Proviso- tablished there shall be appointed not less than three directors, and that no branch or agency now existing, or which may hereafter be established, shall be removed, unless directed by the stockholders in general meeting : And provided also, that the president and di- Further pro- rectors shall establish a branch or agency of said bank in the city V1S0' of Raleigh when thereto required by the General Assembly.
6. Be it further enacted, That the president and directors for The appoint- the time being shall have power to appoint such officers, clerks ment of officers and servants at the principal bank and at their several branches and aries. agencies, as they shall deem proper, and shall regulate their res- pective duties and compensation, and shall exercise such other
powers and authorities as shall be described, fixed and determined by the bylaws, regulations and ordinances of the corporation.
7. Be it further enacted, That every cashier of the said bank, Cashier, &c. branch or agency, before entering on the duties of his office, shall
give bond and security in a sum not less than twentyfive thousand dollars ; and every clerk and other officer shall give bond and secu- rity for such sum as the directors may require.
8. Be it further enacted, That the total amount of debts which J,-™1,,1 of d«bt j the said corporation shall at any time owe, whether by bond, bill, Bank.
note or other contract, shall not exceed the sum of one million six hundred thousand dollars over and, above the sum then actually deposited in the said bank for safe keeping, unless the contracting of any greater debt shall have been previously authorized by a law of this State, and in case of excess, the directors under whose ad- incase of ex- ministration it shall happen, shall be liable for the same in their cess> directors natural and private capacities, and an action of debt may in such 2fy liab¥e.r °n~ case be brought against them, or any of them, their or any of their heirs, executors or administrators, in any court of record in this State, by any creditor or creditors of said corporation, and may be prosecuted to judgment and execution ; any condition, covenant or agreement to the contrary notwithstanding ; nor shall this be construed to exempt the said corporations, or the lands, ten- ements, goods or chattels of the same, from being also liable and chargeable with the said excess ; but such of the said directors as Exception, may have been absent when the said excess was contracted, or may have dissented from the resolution or act whereby the same was so contracted or created, may respectively exonerate them- selves from being so liable by forthwith giving notice of the fact, and of their absence or dissent, before or with some notary pub- lic, and to the stockholders at a general meeting which they shall have power to call for that purpose.
VOL. II.
50 BANK OF CAPE FEAR.
Bank bound to 9. Be it further enacted , That the president and directors of the state"5 ° tne sa^ bank shall at all times, from and after the passing of this act, and during the continuance of the same, be bound and obliged to make a loan or loans to the State of North Carolina, if required and authorized by law, of any sum or sums of money, not exceed- ing in the whole, at any one time, one tenth part of the actual capital stock of said bank, and at a rate of interest not exceeding Proviso. six per cent, per year, to be paid half yearly : Provided, that it
shall be the duty of the public treasurer to make application in writing for such loan or loans at least three months previous to the time when they may be required. Statement to be 10. Be it further enacted, That it shall be the duty of the ficTtreasw^" treasurer °$ the State to require from time to time not exceeding &c ' once in six months, which shall be furnished by the president of
the said corporation, a statement of the amount of the capital stock of the said corporation, the debts due to the same, the mo- neys deposited, the notes in circulation, and the cash on hand ; and shall have a right to inspect such general accounts on the books of the said corporation as shall relate to the said statements. Proviso. Provided, that this shall not be construed to be a right to inspect
the accounts of private individuals, except the directors, with the said bank. Tax upon the II. Be it further enacted, That a tax of twentyfive cents on stock. g^h share 0f stock owned by individuals in the said bank shall be
annually paid into the treasury of the State, by the president or cashier of said bank, on or before the first day of October in each year ; and the said bank shall not be liable to any further tax. Fundamental 12. JBe it further enacted, That the following rules, restrictions, limitations and provisions shall form and be the fundamental arti- Stock transfer- c]es of the constitution of the said corporation. The stock of able- the said corporation shall be transferable and alienable as heretofore,
or according to such rules and regulations as shall hereafter be established by the president and directors for that pur- Bills, bonds, pose. Bills, bonds and notes subscribed by the president and ing, and shall "countersigned by the cashier, promising the payment of money to draw interest any person or persons, his, her or their order, or to bearer, with or p^Tented until without the seal of the said corporation, shall be binding and oblig- paid. atory upon the same ; and if any person or persons holding any
note or notes of the said bank, shall present the same for payment at the principal bank or either of its branches, where such notes are payable, and the payment shall be refused, the said note or notes shall draw interest from the time of such demand, at the rate of six per cent, per annum, and six per cent, per annum for damages, No note under an(^ the said bank shall pay the same ; any law to the contrary not- three dollars to withstanding ; but it shall not be lawful for the said bank to issue Dividends to be any note f°r a smaller sum than three dollars. Half yearly divi- made half dends shall be made of such part of the profits of the bank as year y. $\\2&[ appear advisable to the stockholders or to the president and
Restriction in directors for the time being. The lands, tenements and heredita- holdmg proper- mentg which it shall be lawful for the said corporation to hold, shall be only such as the corporation now holds, or such as shall be requisite for its accommodation in relation to the convenient
BANK OF CAPE FEAR. 51
transacting of its business, and such as are now or shall be bona fide mortgaged to it by way of security, or conveyed to it in sat- isfaction of debts previously contracted in the course of its deal- ings, or purchased at sales under judgments which shall have been obtained for such debts ; nor shall this corporation directly or inch- j ^tet the rectly deal or trade in anything except bills of exchange bonds and bank shall notes gold or silver bullion, mint certificates, public debt ot the United States, stock of the bank of the United States, or such other bank as may be hereafter established by a law of the United States, Provided, that investments in such stock shall not at any one time exceeed one half of the capital stock of the bank hereby created, or in the sale of goods really and truly pledged for money lent and not redeemed in due time, or in goods the produce of its lands ; Rate neither shall this corporation take more than at the rate ot halt per cent. on foans. centum for thirty days for on account of its _ loan or discount. No ofdirectors No less a number than five directors shall constitute a quorum lor requisite to the transaction of business at the principal bank, of whom the form a quorum, president shall always he one, unless in case of sickness or neces- sary absence, when he shall appoint, by a written instrument, a director to fill his place ; and no director shall receive any emolu-
ment
13. Be it further enacted, That it shall not be lawful for theNonoteu.be said president and directors to discount any bond or promissory less made pay- note, unless the same he made payable_ and negotiable at the said able, &c. at the bank, or some of its branches or agencies. branches.
14 Be it further enacted, That if any director or officer of Fraud of any said bank shall steal, purloin, embezzle, or in any way act^^0 " fraudulently with the funds of the said bank, it shall be deemed felony, &c. felony, and upon conviction thereof, shall be punished by fine and imprisonment, putting in the pillory, and whipping on the bare back not exceeding thirty lashes ; all or either of them at the discretion
of the court. , ,.
15. Be it further enacted, That the cashier shall keep a brokg^gj^ to contain the proceedings of the board of directors, the names olCOntainthe those present, the day and date of each meeting, and shall record {g^g*}* the yeas and nays on any question, when asked for by any director, directors, This book shall be evidence in courts of justice ; and on entering ^shall be on the discharge of his duties, the cashier shall take the following C0Urts. oath or affirmation before some justice of the peace, by whom it shall be returned to the office of the clerk of the county court :— " I, A. B. do solemnly swear (or affirm as the case may be) to keep a just and true record, without alteration or erasures, of the transactions of the board of directors of the Bank of Cape Fear, in a book to be kept by me for that purpose."
And whereas a part of the capital stock hath heretofore been Preamble, purchased in by the president, directors and company of the said bank, and merged, pursuant to an act, passed in the year one thousand eight hundred and twentynine, entitled " An act to en- able the banks of Newbern and Cape Fear to wind up gradually, and to fix a uniform rate of collection," so that the amount of the active capital stock of the said bank is at this time only lour
52
BANK OF CAPE FEAR.
thousand nine hundred and seventythree shares of one hundred dollars each ; and whereas commercial necessity renders it de- sirable that the capital stock of the said bank of Cape Fear should consist of eight thousand shares, of one hundred dollars each, the same being its former capital : Stockholders 16. Be it further enacted, That the president and directors venedband°mav s^a^ eonvene) by public notice, the stockholders of the bank, at open books to some time between the passage of this act and the first day of heretofore^ ^¥ next, for the purpose of ascertaining whether they wish to merged. renew the shares of stock heretofore merged or purchased up by
the bank, or whether they prefer the capital to remain at what it now is ; and in case the stockholders determine to renew the shares heretofore merged, that is, to increase their capital to its original amount of eight thousand shares, of one hundred dollars each, then it shall be the duty of the president and directors forth- with to appoint a day or days, within four months thereafter, for opening of books to receive subscriptions for the shares heretofore merged ; and they shall open books for that purpose at the city of Raleigh, and in the towns of Wilmington, Fayetteville, Newbern, Edenton, Hillsboro', Salem, Salisbury, Charlotte, Elizabeth city, Halifax, Tarborough, Warrenton, Milton, Lincolnton, Mor- ganton, Washington, Wadesboro', Murfreesboro' and Windsor, under the direction of two or more commissioners appointed for that purpose, and the same keep open for subscriptions for thirty days ; and if a greater number of shares shall be subscribed for than is provided to be sold by this act, the president and directors of the principal bank shall reduce the subscription to the proper number of shares, by striking off the requisite number from the If the whole largest subscriptions ; but if the whole number of shares provided subscribed,110 by this act be not subscribed within the said thirty days, then it books may be shall }ie lawful for the said president and directors, by and with the re-opene . consent of the stockholders, at any subsequent time, to re-open
books of subscription, at the same places, for the residue.
Repeals part of 17. Be it further enacted, That the fourth section of the act
m^rib^'how0^ one thousand eight hundred and fourteen be, and the same is
shares shall be hereby repealed ; and that the shares subscribed as aforesaid shall
p be paid in as follows, that is : onefifth at the time of subscribing ;
onefifth at the end of three months thereafter ; another fifth at the
end of six months after the first payment ; onefifth at the end of
nine months after the first payment ; and the remaining fifth at the
Proviso. enj 0f twe]ve months after the first payment : Provided, that no
part of the subscription shall be paid in the notes of the aforesaid
bank, but shall be paid in specie or in funds equivalent to specie :
Further provi- provided, that no dividend on the profits shall be declared on the
additional stock hereby authorized to be taken until the whole
amount of said stock shall be realized to the bank in gold or silver,
or its equivalent.
Limits the is- jg> ge it further enacted, That the said bank shall not issue
S1KJS OI 1116
bank. more than twice the amount of the capital stock at the time actually
paid in specie or its equivalent, a^tf repealed" ^* ^e $ further enacted, That the seventh section of the
BANK OF CAPE FEAR.
53
before mentioned act of one thousand eight hundred and fourteen, imposing a tax of one per cent, upon all the stockholders in said bank, and every section of the act, passed in the year of our Lord one thousand eight hundred and twentynine, entitled "An act to enable the banks of Newbern and Cape Fear to wind up gradually, and fix a uniform rate of collection," and every other act or parts of acts coming within the meaning and purview of this act, or the before recited acts of one thousand eight hundred and fourteen and one thousand eight hundred and four, so far as regards the bank of Cape Fear, be, and the same are hereby repealed : Provided, Proviso, that nothing in this act shall be so construed as to affect in any manner the right of the State in regard to the tax heretofore due.
20. Be it further enacted, That the president of said bank ^ptance of shall give notice to the governor of this State of the acceptance this act to be of this extension of charter by the stockholders thereof, within |0yemor. six months after the passage of this act ; otherwise this act shall
be null and void.
21. Be it further enacted, That it shall be the duty of tne ^™"sal0stbaete" president of the bank, in the first week in December of each and communicated every year, to transmit to the legislature a full and correct state- tothe legwsla- ment of the condition of the bank, shewing the amount of capital ;
notes in circulation, and from what places issued ; debts due to other banks, and to what banks ; and all other particulars necessary to shew the true condition of the debit side of the account ; also specie on hand ; debts due from other banks, and what banks ; the amount of notes or bonds discounted, and of bills of ex- change, shewing in one item the amount due from directors, and in another the amount due from stockholders, but in no case using names of persons ; real estate ; and all other particulars necessary to shew the true condition of the credit side of the said account.
22. Be it further enacted, That if any president, cashier, Penalty for clerk, or other officer of the bank, or any of its branches or agen- returnf cies, shall knowingly and willingly make, cause to be made, or connive at making, any false return, statement, or exhibit of the condition of the bank, its branches or agencies, either to the
public treasurer, to the General Assembly, to the board of directors of the principal bank, or any of its branches or agencies, or to the stockholders, or to any person or persons authorized by the legis- lature, or by the stockholders, to receive the same, such person or persons so offending, their aiders and abettors in such false return or deception, shall be deemed guilty of a misdemeanor, and on conviction in any of the superior courts of law in this State, shall be punished by a fine at the discretion of the court, and by imprisonment not longer than one year.
23. Be it further enacted, That in all loans or discounts which Of loans upon shall hereafter be made upon the pledge of the scrip of the stock stoc£.e of any stockholder in said bank, the renewal payments upon such loan or loans shall be the same as shall be required by the rules of the bank upon discounts or loans upon personal security.
54
BANK OF CAPE FEAR.
Stockholders residing in any one of the U. States, may vote.
Repealing clause.
Bank shall re- ceive public money in de- posit.
Proviso.
When to be in force.
AN ACT TO AMEND THE CHARTER OF THE BANK OF CAPE FEAR.
(Passed in the year 1834.)
Be it enacted, by the General Assembly of the State of North Carolina and it is hereby enacted by the authority of the same, That the stockholders in the bank of Cape Fear, who reside in any one of the United States, who shall be citizens thereof, shall have power and right to vote for themselves, or by proxy, at all meetings of the stockholders of said bank, in the same manner and under the like rules and regulations which are or may be pre- scribed, concerning the stockholders who reside in this State.
2. Be it further enacted, That all laws and clauses of laws coming within the meaning and purview of this act, be, and the same are hereby repealed.
3. Be it further enacted, That the said corporation shall at all times receive in deposit, at their principal bank, or any of the branches or agencies thereof, as much of the public money as the treasurer of the State shall offer to deposit in said bank to his credit : Provided, however, That it shall not be obligatory upon the treasurer, or upon the State, to make deposits jn said bank.
4. Be it further enacted, That this act shall take effect, and be in force, immediately after the stockholders of the said bank in general meeting agree thereto, and signify their assent to its provisions by writing, duly authenticated, and deposited in the office of the secretary of state of this State.
Limitation of charter.
Meeting of stockholders.
Increase of capital.
AN ACT CONCERNING THE BANK OF CAPE FEAR. (Passed at the session of 1836.)
Be it enacted by the General Assembly of the State of North Carolina, and is hereby enacted by the authority of the same, That the act, entitled " An act to recharter the bank of Cape Fear," passed by the General Assembly in the session of 1833 — 1834, be, and the same is hereby continued in force until the first day of January, in the year of our Lord, one thousand eight hun- dred and sixty.
2. Be it further enacted, That the president and directors shall convene, by public notice, the stockholders of the bank, at some time between the passage of this act and the first day of April next, for the purpose of ascertaining whether they wish to increase the capital stock of the said bank ; and in case they determine to increase the capital stock, there shall be added seven thousand shares, of one hundred dollars each, so as to make the capital stock of said bank one million five hundred thousand dollars ; of which increased capital, the State of North Carolina shall be en- titled to subscribe three thousand shares, and individuals and cor- porations the remaining four thousand shares.
BANK OF CAPE FEAR.
55
3. Be it further enacted, That if the stockholders shall assent Books of sub- to the increase of the capital stock aforesaid, the president and op"1*1™ t0 directors shall, within one month after the acceptance of this charter, open books of subscription, under the direction of two
or more commissioners, to be by them designated, at the city of Raleigh, and in the towns of Wilmington, Fayetteville, Newbern, Edenton, Hillsboro', Salem, Salisbury, Charlotte, Elizabeth City, Halifax, Tarboro', Lincolnton, Morganton, Washington, Wades- boro', Wilkesboro', Greensborough, Rutherfordton, and Oxford, and the same to keep open for subscription for ten days ; and if it shall happen, when the books shall be opened as aforesaid, that a greater number than four thousand shares shall be subscribed by individuals, or bodies corporate, it shall be lawful for the president and directors to reduce such subscriptions, according to a scale by them to be established for that purpose, to the aforesaid number of four thousand shares : Provided, that no subscriptions of two shares or under, shall be scaled until all larger subscriptions shall provision for be reduced to an equality with them: Provided also, that if the re-opemng four thousand shares be not subscribed within ten days as afore- said, it shall be lawful for the stockholders, at any future time, to open books of subscription, at the same places, under the same restrictions, for the residue : Provided, that nothing herein con- tained shall compel the president and directors to open books for a subscription of more than two thousand shares, until after the first day of January, 1838.
4. Beit further enacted, That when the capital stock shall be in- Amount of creased as aforesaid, the said president, directors and company of P™P^[io^hlch the bank of Cape Fear, are hereby made able and capable in law may hold.
to have, purchase, receive, possess, enjoy, and retain to them- selves, their successors and assigns, lands, rents, tenements, he- reditaments, good, chattels and effects to an amount not exceed- ing three millions of dollars, exclusive of their capital stock afore- said, with the same privileges as are prescribed in the act of 1833.
5. Be it further enacted, That when the said seven thousand ^ta$Xec- shares shall be fully paid for, according to the provisions of this tors, &c. act, the representative of the State, whom the governor, secre- tary of state and comptroller, shall designate, may appoint four di- rectors of said bank, who are stockholders, and the individual stockholders may appoint seven directors. And in all general meetings of the stockholders, the representative of the State ap- pointed as aforesaid, shall be entitled to three votes for every six
given by individual stockholders.
6. Be it further enacted, That the said bank, within one year Additional from the payment of the subscriptions by the State aforesaid, shall ^eccfeto rbee" establish two or more additional branches in this State ; neither of established. which shall be less than one hundred miles distant from the prin- cipal bank, and one of which shall be west of the Yadkin.
7. Be it further enacted, That not less than three directors Directors quo- shall constitute a quorum, for the transaction of business at the rum of> &c- principal bank ; of whom the president shall be one, unless in
case of sickness or necessary absence ; when he shall appoint,
56 BANK OF CAPE FEAR.
by a written instrument, a director to fill his place. And in case of death, resignation, or removal from the State, of any director, his place shall be filled by a new appointment for the remainder of the year, by a majority of the directors ; Provided, that no per- son shall be eligible as a director, who is not the owner of ten shares or more of the capital stock of the bank- Amount of debt 8. Be it further enacted. That the total amount of debt, which poration may f" tne sa^ corporation shall at any time owe, shall not exceed twice owe. the amount of its capital, over and above its capital stock, and the
sum then actually deposited in the bank for safe keeping, unless the contracting of any greater debt shall have been previously au- thorized by a law of the State. Notice of ac- 9. Be it further enacted, That the president of said bank shall charte^be §*ve not^ce t0 tne governor of this State, of the acceptance of this given to gov- charter, as amended, by the stockholders thereof, at such time as emor. tjiey may presc.ribe3 before the first day of April next.
10. Be it further enacted, That upon such notice being given to the governor of this State as is herein required, by the president of said bank, it shall and may be lawful for the president and di- rectors of the said bank, and they are hereby required to receive in behalf of the fr°m tne public treasurer a subscription in behalf of the State, for the State. tjie whole amount of the said three thousand shares of capital stock, at any time within three months from the passing of this act : payment for which to the said bank shall be made as follows, to wit : onefourth of the whole amount at the time of subscribing, and one other fourth every ninety days thereafter, till full payment be made : Provided, that if the public treasurer pay the whole of the said subscription at the time of subscribing, or any greater part thereof than is hereby required, before the time limited for the same, the State shall have interest at the rate of six per cent, on all payments made in advance, computing the same from the time when payment is made to the time when required to be made : And provided also, that if the public treasurer fail to pay the said instalments, or any part of them, at the time appointed for the payment of the same, he shall pay interest, at the same rate, on all instalments or parts thereof not punctually paid, from the time the same should have been paid, until payment be made. Capital stock, 11. Be it further enacted, That if, at any time hereafter, the je°Juc1etdmaybe president and directors of said bank shall find that the whole capi- tal of the same cannot be safely and profitably employed, they shall have power, and they are hereby authorized, by the consent of the General Assembly, first to be had and obtained, to reduce the same to an amount not less than one million of dollars, by pur- chasing the stock of said bank, or receiving the same in payment of debts, bona fide due the bank, at a price not less than the par value thereof ; and all shares of stock so purchased by the bank or taken in payment of debts, shall thereafter cease to be a part of the capital stock of said bank. Bank may deal 12. Be it further enacted, That the said bank shall have au- in public debt, thority to deal in such public debt as now is, or may hereafter be created by this State.
SANK OP THE STATE OF NORTH CAROLINA. 57
BANK OF THE STATE OF NORTH CARO- LINA.
AN ACT TO ESTABLISH A BANK IN THE STATE OF NORTH CAROLINA.
(Passed at the session of 1833 — 34.)
Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That a bank shall be established in the State of North Carolina, gtal of the the capital stock whereof shall not exceed one million five hun- dred thousand dollars, divided into shares of one hundred dollars each.
2. Be it further enacted, That the bank so established shall be incorporating known and styled the " Bank of the State of North Carolina," and subscribers. the subscribers to the said bank, their successors and assigns, shall
be, and are hereby created and made a corporation and body poli- tic, in law and in fact, by the name and style of the " Bank of the State of North Carolina," and shall so continue until the first day of January, one thousand eight hundred and sixty; and by the name and style aforesaid, they shall be, and are hereby made able and capa- ble in law to have, purchase, receive, possess, enjoy and retain to themselves, their successors and assigns, lands, rents, tenements, hereditaments, goods, chattels and effects, to an amount not ex- ceeding in the whole four and a half millions of dollars, including the capital stock aforesaid ; and the same to sell, grant, demise, alien or dispose of ; to sue and be sued, implead and be implead- ed, answer and be answered, defend and be defended, in courts of record or any other place whatever ; and also to make, have and use a common seal, and the same to break, alter and renew at pleasure ; and also to ordain, establish, and put in execution such bylaws, ordinances and regulations as shall seem necessary and con- venient for the government of said corporation, not being contrary to the laws of this State or of the United States ; and for the making whereof general meetings of the stockholders may be called by the directors in the manner hereinafter specified ; and generally to do and execute all acts, matters and things which a body politic or corporation in law may or can lawfully do or execute, subject to the rules, regulations, restrictions and provisions hereafter pre- scribed and declared.
3. Be it further enacted, That the State shall be entitled to Amount for subscribe for twofifths of the capital, say six hundred thousand ^^individuals dollars, and individuals and corporations to the other threefifths, may subscribe, say nine hundred thousand dollars ; and books for receiving sub- Commissioners scriptions in said bank shall be opened in Raleigh on the first day to open books. of February, one thousand eight hundred and thirtyfour, by the governor, the treasurer, Gavin Hogg, William Boy Ian, Duncan Cameron, Charles L. Hinton and Alfred Jones ; at Fayetteville, on
VOL. II. 8
08
BANK OF THE STATE OF NORTH CAROLINA.
the same day, by Edward L. Winslow, Duncan M'Rae and Joseph Baker ; at Wilmington, on the same day, by Edward B. Dudley, P. R. Dickerson and R. H. Cowan ; at Newbern, on the same day, by Asa Jones, John R. Donnel, John Washington, Robert Primrose and Amos Wade ; at Washington, on the same day, by James Ellison, Eli Hoyt and Nathaniel J. Oliver ; at Edenton, on the same day, by Josiah Collins, senior, R. H. Booth, M. Haughton and John Popelston ; at Hertford, on the same day, by Henry Skinner, John Wood and Miles Elliott ; at Elizabeth City, on the same day, by Miles White, Hezekiah Lock- wood, Isaiah Fearing, John M'Morine and Horatio N. Williams ; at Halifax, on the same day, by Andrew Joiner, Mark H. Petta- way and Thomas Burgess ; at Tarborough, on the same day, by Spencer D. Gotten, Eli Porter and Theophilus Parker ; at War- renton, on the same day, by Peter R. Davis, Thomas White and Zachariah Herndon ; at Louisburg, on the same day, by William Perry, W. P. Williams and H. J. G. Ruffin ; at Oxford, under the superintendence of Rhodes N. Herndon, Thomas J. Hicks and James Cooper ; at Hillsborough, on the same day, by James Webb, John U. Kirkland and James Philips ; at Milton, on the same day by Samuel Watkins, John Wilson and John T. Gar- land ; at Salisbury, on the same day, by Thomas L. Cowan, William H. Horah and Samuel Reeves ; at Salem, on the same day, by Charles F. Bagge, F. H. Shuman and E. Shober ; at Charlotte, on the same day, by John Erwin, Joshua D. Boyd and Joseph McConnaughey ; at Ashville, on the same day, by Samuel Chunn, James M. Smith and Samuel W. Davidson ; at Lincolnton, on the same day, by Vardy M'Bee, John Hoke and Andrew Hoyl ; at Windsor, on the same day, by Joseph B. Roulhac, Lorenso S. Webb and James L. Bryan ; at Beaufort, on the same day, by Benjamin Le Craft, Joseph F. Jones and and Nathan Fuller ; at Morganton, on the same day, by Thomas Walton, Robert C. Pearson and Adolphus L. Erwin ; at Greens- borough, on the same day, by Robert Modderwell, Jesse H. Lindsay and James T. Moorehead ; at Leaksville, on the same day, by William Barnett, William A. Carrigan and JohnLawson ; at Jefferson, on the same day, by George Bower, Jr., Richard Gentry and Alexander B. M'Millian ; and at the same time, at such other places, under the superintendence of such commission- ers, as may be designated by the commissioners appointed to re- ceive subscriptions at Raleigh. A majority of said commissioners, at each of the abovenamed places, shall be competent to perform the duties of their appointment ; and if the whole number of shares other than those reserved for the State, shall not be subscribed within the term of sixty days, they may keep the books open for ten months, for the purpose of receiving subscriptions, and no longer.
4. And be it further enacted, That if it shall happen, when the tkms maybe1' books shall be opened as aforesaid, that a greater sum than nine bun- reduced in case ^ed thousand dollars shall be subscribed by individuals or bodies corporate, it shall be lawful for the commissioners at Raleigh to
How subscrip-
BANK OF THE STATE OF NORTH CAROLINA. 59
reduce such subscriptions, according to a scale by them to be established for that purpose, to the aforesaid sum of nine hundred thousand dollars : Provided, that no subscriptions of two shares or proviso. under shall be scaled until all larger subscriptions shall first be re- duced to an equality with them.
5. Be it further enacted, That payment for shares subscribed for how state sub- in behalf of the State, whenever the payment of such subscriptions scriptions shall shall be ordered by the legislature, shall be made by the public e pai ' treasurer out of such funds, being in gold or silver coins of the
United States, or Spanish milled dollars, or their equivalent, to the commissioners in the city of Raleigh, and on the same times as are hereinafter prescribed for payments to be made by individ- uals or other subscribers : Provided, that if the State shall not proviso. have the means of paying the regular instalments on the whole number of six thousand shares, it shall be lawful for the public treasurer to subscribe and pay for such a number of shares as the funds in the treasury will warrant, or as the legislature may from time to time direct ; and if the whole number of six thousand shares shall not have been subscribed and paid for on or before the first day of January, one thousand eight hundred and thirtyseven, the State shall no longer have the privilege of taking them ; and the State shall at all times receive dividends of profits, when made by the bank, upon such shares as she may have paid for.
6. Be it further enacted, That payment for shares subscribed How individ- for by individuals or corporations, shall be made in gold or silver £oil&Hbe coins of the United States, or Spanish milled dollars, or their paid, equivalent, to the commissioners appointed to receive subscrip- tions at the city of Raleigh, to wit : twentyfive dollars on each
share at the time appointed for the first general meeting of the stockholders ; twentyfive dollars ninety days thereafter ; twenty- five dollars one hundred and twenty days after the time appointed for paying the second instalment ; and the remaining twentyfive dollars one hundred and twenty days after the time for paying the third instalment : Provided, that after a sufficient number of shares proviso. have been subscribed and paid in for the bank to go into operation, as hereinafter provided, the remaining payments may be made by the subscribers at such branches or agencies as may be established by the said bank, most convenient to them, and take the receipts of the cashiers or agents of such branches or agencies, at which the payment may be made : Provided always, that it shall be lawful Further provi- for any subscriber to pay the whole of his subscription, or any so- greater part than is hereby required, before the time limited for the same ; and each and every subscriber, so paying in advance, shall have a discount at the rate of six per cent, per annum on such advance, computing the same from the time when payment is made to the time when it is required to be made.
7. Be it further enacted, That the bank to be established in Number of di- the city of Raleigh, shall be managed by ten directors, of whom rer?^s of ^^ the State may appoint four, if she take the whole amount of stock and how ap- to which she is entitled to subscribe by this act, in the said bank, pointed.
all of whom, except the public treasurer, must be stockholders ;
60 BANK OF THE STATE OF NORTH CAROLINA.
and individual and other stockholders may elect six directors, be- ing stockholders, provided they shall have taken the whole amount of stock which they are hereby authorized to take : Provided, that if the bank shall go into operation with seven hundred and fifty thousand dollars, as is hereinafter provided, or any less amount than the whole capital, then the State, and individuals and other stockholders shall appoint the ten directors for the principal bank, in proportion to the number of shares held by them respectively : And provided, also, that if the State and individuals and other subscribers shall hold the same number of shares, then each shall appoint five directors : And provided further, that the State and individuals and other stockholders shall have the appointment of the ten directors apportioned among them in proportion to the Public Treasu- amount of stock taken by each : Provided, that the public treas- re* *P be ,e.x urer shall be ex officio a director on the part of the State, whether
officio a direc- r 5
tor. he be a stockholder or not.
Of the election 8. Be it further enacted, That the president of the bank, being
aMrSrsalary. a director, shall be chosen by a majority of the directors, with a
salary to be fixed by the stockholders in general meeting. How branches 9. Be it further enacted, That branches or agencies of said bank a"dna§'encs;iesb shall be established at such times and at such places as the stock- lished, and di- holders in general meeting may designate, with capitals, at such rectors ap- branches or agencies, as the directors of the principal bank may assign, which shall be removable at their pleasure, after one year's notice of such intended removal ; and that the president and di- rectors of the principal bank, for the time being, shall have power to appoint five directors for each branch bank, and such officers, clerks and servants, under themselves, as well as at the several branches, as shall be necessary for executing the business of the said corporation, and to allow them such compensation for their services, respectively, as shall be reasonable ; and shall be capa- ble of exercising such other powers and authorities, for the well government and ordering the affairs of the said corporation, as shall be described, fixed and determined by the bylaws, rules, regu- lations and ordinances of the same. How branches 10. Be it further enacted, That the branch banks shall be man- shall beman- aged by five directors, being stockholders, appointed annually by aged. the directors of the principal bank, and governed by general rules
that may be prescribed by the said directors of the principal bank; and the agency shall be managed by an agent, under the exclusive control and direction of the directors of the principal bank. When bank 11. Be it further enacted, That the bank may go into opera-
oration110 ^on whenever seven hundred and fifty thousand dollars shall have been paid in ; and that no dividend on the profits of the bank shall be declared by the president and directors until the whole amount of the capital stock subscribed shall be realized to the bank, in gold or silver, or its equivalent. Semi-annual 12. Be it further enacted, That dividends of the profits of the dividends. bank shall be made semi-annually.
Annual state- 13. Be it further enacted, That it shall be the duty of the pre- madeSto°the sident of the principal bank, in the first week in December of each
BANK OF THE STATE OF NORTH CAROLINA. 61
and every year, to transmit to the public treasurer a full and cor- public treas- rect statement of the condition of the bank, shewing the amount communicated of capital ; notes in circulation, and from what places issued ; to the iegisla- debts due to other banks, and what banks ; and also all other par- ticulars necessary to shew the true condition of the debit side of the account ; also specie on hand ; debts due from other banks, and what banks ; the amount of notes or bonds discounted, and of bills of exchange, shewing in one item the_ amount due from di- rectors, and in another the amount due from stockholders, but in no case using names of persons ; real estate ; and all other partic- ulars necessary to shew the true condition of the credit side of the said account ; which statements the public treasurer shall lay be- fore the General Assembly in his official reports, and the divi- dends which shall accrue from time to time upon the stock of the bank ; and each share owned by individuals, shall be subject to an ^
annual tax of twentyfive cents, and no more, which tax shall be re- Tax on stocky served out of the profits as they accrue, by the cashier of the prin- cipal bank, and placed to the credit of the State, on or before the first day of October in every year.
14. Be it further enacted, That if any president, clerk or other Penalty for officer of the bank, or any of its branches or agencies, shall know- return! ingly and willingly make, cause to be made, or connive at making
any false return, statement or exhibit of the condition of the bank, its branches or agencies, either to the public treasurer, to the Ge- neral Assembly, to the board of directors, to the principal bank, or to any of its branches or agencies, or to the stockholders, or to any person or persons authorized by the legislature, or by the stockholders, to receive the same, such person or persons so of- fending, their aiders and abettors in such false return or deception, shall be deemed guilty of a misdemeanor, and on conviction in any of the superior courts of law in this State, shall be punished by a fine at the discretion of the court, and by imprisonment not longer than one year.
15. Be it further enacted, That it shall be at all times lawful for Committee any committee appointed by the legislature for that purpose, to in- bools"^c.C spect the books, and examine into the proceedings of the said cor- poration, and make report thereon : Provided, that said commit- Proviso, tee shall not be authorized to examine into the private accounts of individuals, except of the directors of the principal bank and its branches.
16. Be it further enacted, That all stockholders, being citi- stockholders zens of the United States, shall be entitled to vote, either in per- e£titled tovote son or by proxy, at all general meetings of the stockholders. meetings.
17. Be it further enacted, That the vote to which each stock- Stockholders holder shall be entitled, except the State, shall be according to the how t0 vote" number of shares he may hold, in the proportions following, that is
to say : for one share, and not more than two, one vote ; for every two shares above two, and not exceeding ten, one vote ; for every four shares above ten, and not exceeding thirty, one vote ; for every six shares over thirty, and not exceeding sixty one vote; for every eight shares over sixty, and not exceeding one hundred, one vote;
62
BANK OF THE STATE OF NORTH CAROLINA.
Eligibility of directors.
Emoluments how allowed.
Board for the transaction of business.
How to call a general meet- ing of stock- holders.
Cashier or agent to give bond.
Penalty for embezzlement or fraud.
Restriction in holding prop- erty.
for every ten shares over one hundred, and not exceeding two hundred, one vote ; and for every twenty shares over two hundred, one vote. The treasurer, or whoever the governor of the State may appoint to represent the State at the general meetings of the stockholders, shall have the same number of votes to which the greatest number of stockholders holding an equal number of shares with those owned by the State would be entitled ; and after the first election, no share or shares shall confer a right of suffrage which shall not have been holden three calendar months previous to the day of election.
18. None but a stockholder being a citizen of the State, shall be eligible as a director.
19. None shall be entitled to any emolument, unless the same shall have been allowed by the stockholders at a general meeting, or by the board of directors of the principal bank.
20. A majority of the directors at the principal bank, or a ma- jority of the directors at the branches, shall constitute a board for the transaction of business, of whom their respective presidents shall always be one, except in cases of sickness or necessary ab- sence ; in which case his place may be supplied by any other director, whom he, by writing under his hand, may nominate for the purpose.
21. A number of stockholders, not less than fifty, who together shall be proprietors of three hundred shares or upwards, shall have power at any time to call a general meeting of the stockholders for purposes relative to the institution, giving at least eight weeks' pre- vious notice in the public gazettes of the place where the principal bank is kept, specifying in such notice the object or objects of such meeting.
22. Be it further enacted, That every cashier or agent, before he enters on the duties of his office shall be required to give bond and security, in the sum of not less than twentyfive thousand dol- lars, conditioned for his good behavior and faithful discharge of the duties of his office.
23. Be it further enacted, That if the cashier or any other offi- cer, agent or servant of said corporation, shall embezzle, and, without authority from the president and directors of said bank, appropriate any of the funds of said corporation to his own use, with intent to cheat or defraud the president, directors and company of said bank, or shall make false entries upon the books of said bank with intent to defraud said corporation or any other person whatsoever, said officer, agent or servant shall be held and deemed guilty of felony, and, upon conviction thereof, by due course of law, shall be punished by fine and imprisonment not exceeding five years, putting in the pillory, public whipping not exceeding thirty lashes on his bare back, all or any of them, at the discretion of the court.
24. Be it further enacted, That the lands, tenements and here- ditaments which it may be lawful for said corporation to acquire, shall be only such as shall be requisite for its immediate accommo- dation for the transaction of its business, and such as have been
BANK OF THE STATE OF NORTH CAROLINA.
bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in the course of ordi- nary banking business, or purchased at sales upon judgments or decrees rendered in favor of said bank.
25. Be it further enacted, That the bills obligatory and of cred- 1f°T[}'ills' &c- it, under the seal of said corporation, which shall be made to any signable. person or persons, shall be assignable by endorsement thereupon,
under the hand or hands of such person or persons, and of his, her or their assignee or assignees, and so as absolutely to transfer and vest the property thereof in each and every assignee or assig- nees, to bring and maintain an action thereupon in his, her or their own name or names. And bills or notes which may be issued by order of the said corporation, signed by the president and coun- tersigned by the cashier of the principal bank, promising the pay- ment of money to any person or persons, his, her or their order, or to the bearer, though not under the seal of the said corporation, shall be binding and obligatory on the same, in the like manner, and with the like force and effect as upon any private person or persons, if issued by him, her or them in his, her or their natural or private capacity or capacities, and shall be assignable and nego- tiable in like manner as if they were so issued by such private per- son or persons, that is to say : those which shall be payable to any person or persons, his, her or their order, shall be assignable by endorsement in like manner and with like effect as foreign bills of exchange now are ; and those which are payable to bearer shall be negotiable and payable by delivery only.
26. Be it further enacted, That the said corporation shall not in what the deal except in gold and silver coin or bullion ; bills of exchange ; T^^!?11 mint certificates ; promissory notes, expressing on the face of them
to be negotiable and payable at the said bank or some of its branch- es; in the public debt of the United States; in stock of the present Bank of the United States, or such other bank as may be hereafter established by a law of the United States : Provided, that invest- ment in such stock shall not exceed, at any one time, one half of the capital stock of the bank hereby created.
27. Be it further enacted, That the said corporation shall not Interest on take more than six per cent, per annum upon its loans or dis- oans' counts, which may be received in advance at the time of discount.
28. Be it further enacted, That whenever the legislature may p/oc.ef?n ca^e
v * o j oi violation oi
be of opinion that the charter of the corporation hereby granted charter, shall have been violated, it may be lawful, by joint resolution, to direct the attorney general, with such assistant counsel as the gov- ernor or legislature may think proper to engage, to issue a writ of scire facias, returnable before the judges of the supremecourt of the State, calling upon said corporation to show cause why the charter hereby granted shall not be forfeited, subject to the same proceed- ings as are now prescribed by law in cases of other corporations.
29. Be it further enacted, That if any person or persons hold- Penalty for re-
c • r i i in i r lusin^ to re-
ing any note or notes oi said bank, shad present the same lor pay- deem notes. ment at the principal bank, or either of its branches or agencies, where such note or notes are payable, and the payment shall be
64 BANK OF THE STATE OF NORTH CAROLINA.
refused, the said note or notes shall draw interest, at the rate of twelve per cent, per annum, from the time of said demand, and the said bank shall pay the same ; any law to the contrary not- withstanding. Penalty for 30. Be it further enacted, That if any person shall falsely
coSfeiting. ™ake> for§e or counterfeit, cause or procure to be falsely made, forged or counterfeited, or willingly aid or assist in falsely making, forging or counterfeiting any bill or note, in imitation, or purport- ing to be a bill or note issued by order of the president and direc- tors of t^e Bank of the State of North Carolina, or any order or check on said bank or corporation, or any cashier thereof, or shall falsely alter, or cause or procure to be falsely altered, or willingly aid or assist in falsely altering, any bill or note issued by order of the president and directors of the Bank of the State of North Car- olina, or any order or check on the said bank or corporation, or any cashier thereof; or shall pass, or receive with intent to pass, utter or publish, or attempt to pass, utter or publish, as true, any false, forged or counterfeited bill or note, issued by order of the president and directors of the Bank of the State of North Caro- lina, or any false, forged or counterfeited check upon the said bank or corporation, or any cashier thereof, knowing the same to be falsely forged or counterfeited, or shall pass, or receive with intent to pass, utter or publish, or attempt to pass, utter or publish, as • true, any falsely altered bill or note, issued by order of the presi- dent and directors of the Bank of the State of North Carolina, or any falsely altered order or check on the said bank or corporation, or any cashier thereof, knowing the same to be falsely altered, with intention to defraud the said corporation or any other body politic or person, every such person shall be deemed and adjudged guilty of felony, and being thereof convicted by due course of law, shall be punished by fine and imprisonment not exceeding three years, putting in the pillory, public whipping not exceeding thirty lashes on his or her bare back ; all or any of them at the discretion of the court, due regard being had to the circumstances of the offence. No note under 31. Be it further enacted, That no note shall be issued by the
oerissJe0dlarStoBank of the State of North Carolina for a less sum than three dollars.
Limiting the 32- ^nd be it further enacted, That this bank shall at no time circulation. have in circulation more than twice the amount of its capital. Cashier shall 33. Be it further enacted, That the cashier shall keep a book contain the t0 1° contain the proceedings of the board of directors, the names proceedings of of those present, the day and date of each meeting, and shall re- dkectors, cord the yeas and nays °n any question, when asked for by any which shall be director. This book shall be evidence in courts of justice : and courts"06111 on entering on the discharge of his duties, the cashier shall take the following oath before some justice of the peace, by whom it shall be returned to the office of the clerk of the county court : " I, A. B. do solemnly swear to keep a just and true record, with- out alterations or erasures, of the transactions of the board of di- rectors of the Bank of the State of North Carolina, in a book to be kept by me for that purpose."
BANK OF THE STATE OF NORTH CAROLINA. 65
AN ACT SUPPLEMENTAL TO THE ACT TO ESTABLISH A BANK IN THE STATE OF NORTH CAROLINA.
(Passed at the session of 1833 — 3.4.)
Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That until otherwise provided by law, the governor, secretary of By whom di- state, and comptroller of public accounts, shall have authority, and rectors for the it shah be their duty to appoint such directors as the Stato may be appointed! be authorized to appoint, to represent the public stock in the bank of the State of North Carolina.
2. Beit further enacted, That in addition to the stock that may Duty of Pub- be subscribed for in said institution by the president and directors & subSSeftc of the literary fund, it shall be the duty of the public treasurer to stock, subscribe, from time to time, for such further amount of stock as
the condition of the public treasury may, in his opinion, justify.
3. Be it further enacted, That the public treasurer shall have Public Tr«as- authority, if in his opinion such a measure shall be expedient, to tTbormt0"26'1 borrow, in behalf of the State, from the banks of Newbern and
Cape Fear such sums of money, or any part thereof, as the State may be entitled to borrow under the provisions of the amended charter of those institutions granted in the year eighteen hundred and fourteen.
4. And be it further enacted, That it shall be lawful for the When the bank of the State of North Carolina to go into operation whenever iX^pXfou. one half of the amount of individual stock, authorized by the act
to which this is a supplement, shall be subscribed for and paid in gold and silver or the equivalent thereof.
AN ACT TO AMEND " AN ACT TO ESTABLISH A BANK IN THE STATE OF NORTH CAROLINA," PASSED AT THE LAST SESSION OF THE GENERAL ASSEMBLY.
(Passed at the session of 1834-35.)
Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That it shall and may be lawful for the corporation created and Bank may deal established by the above recited act, to deal in promissory notes, in promissory expressed on the face of them to be negotiable and payable at any paylbi^afany agency of the bank of the State of North Carolina, which now is, of its agencies. or hereafter may be established in conformity with the provisions of said act, in like manner, as in promissory notes expressed on their face to be negotiable at the said bank, or some of its branches.
2. Be it further enacted, That the said corporation shall at all Bank shall re- times receive in deposit at their principal bank, or any of the£eySde- branches or agencies thereof, as much of the public money as the posit. treasurer of the State shall offer to deposit in said bank to his
VOL. II. 9
66
Proviso.
Repealing clause.
When to be in force.
merchants' bank of newbern.
credit : Provided, That it shall not be obligatory upon the treasu- rer or upon the State, to make deposits in said bank.
3. Be it further enacted, That all laws and clauses of laws coming within the meaning and purview of this act, be, and the same are hereby repealed.
4. Be it further enacted, That this act shall take effect, and be in force immediately after the stockholders of the said bank, in general. meeting, agree thereto, and signify their assent to its pro- visions by writing, duly authenticated and deposited in the office of .secretary of state of this State.
MERCHANTS' BANK OF NEWBERN.
Books to be opened for subscription.
AN ACT TO ESTABLISH THE MERCHANTS' BANK OP THE TOWN OF
NEWBERN.
(Passed in the year 1834.)
Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, Capital stock. That a bank shall be established in the town of Newbern, the cap- ital stock of which shall not exceed three hundred thousand dol- lars, divided into shares of one hundred dollars each ; and that for the purpose of receiving subscriptions for the said stock, books shall be opened on the second Monday of February, in the year of our Lord one thousand eight hundred and thirtyfive, and remain open for the space of sixty days, at the following places, and under the superintendence of the following persons, or a majority of them, viz : At Newbern, under the superintendence of John Snead, John Washington, Samuel Simpson, William Hollister, John Burgwyn, John W. Guion, Isaac Taylor, Bennet Flanner, Amos Wade, Michael H. Lente, Samuel Oliver, George S. Attmore, James C. Stephenson, Charles Slover, Hardy B. Lane, and Wil- liam C. Hunter. At Washington, in Beaufort county, under the superintendence of John Myers, Eli Hoyt, Abner P. Neale, Na- thaniel J. Oliver, and Thomas H. Blount. At Bath, under the superintendence of Joseph Bonner, John Y. Bonner, and Jesse B. Lucas. At Caswell, under the superintendence of John C. Washington, Reuben Knox, Nathan G. Blount and Watson Wil- cox. At Waynesborough, under the superintendence of Richard Washington, Arnold Borden and John Wright. At Trenton, under the superintendence of William Huggins, James Harrison, Hardy Bryan and Charles Garock. At Beaufort, under the su- perintendence of James W. Byran, Jackonias Piggot, John F. Jones and Benjamin Lecrofte. At Swansborough under the su- perintendence of William P. Ferrand, Daniel L. Russel and Ba- sil Hawkins. At Snowhill, under the superintendence of Benjamin S. Edwards, William Williams, clerk, and Charles Harper.
merchants' bank of newbern.
67
2. Be it further enacted, That onefourth of each share shall How ^crip- be paid in gold or silver, or their equivalent, to the commissioners ^ s a above named, at the time of subscribing ; that another fourth
shall be paid in gold or silver, or their equivalent, to the directors, chosen in the manner hereafter described, within sixty days after the bank shall have commenced business, and the remainder shall be paid as aforesaid, within nine months after the commencement of its operations : and if any subscriber shall fail to pay any instal- ment at the time stipulated, he shall pay interest thereon at the rate of six per centum per annum, and his stock shall be forfeited, and may be sold by the bank, and the proceeds applied to the payment of the said deficient instalment, with the interest thereon, and the balance, if any, paid over to said subscriber : Provided, That no dividend shall be declared until the whole amount of stock sub- scribed shall be paid in gold or silver or their equivalent.
3. Be it further enacted, That when one thousand shares are incorporating subscribed, and the sum of twentyfive thousand dollars is actually subscribers, paid to the commissioners, the subscribers to the said bank, then- successors and assigns, shall be, and are hereby created and made a corporation and body politic in law and in fact, by the name and
style of the " President and Directors of the Merchants' Bank of Newbern," and shall so continue until the first day of January, one thousand eight hundred and fiftyfive ; and by the name and style aforesaid, they shall be and are hereby made able and capable in law to have, purchase, receive, possess, enjoy and retain to themselves and successors, lands, tenements, rents, hereditaments, goods, chattels and effects, and the same to grant, demise, alien and dispose of, to sue and be sued, implead and be impleaded, answer and be answered, defend and be defended, in courts of re- cord, or any other place whatsoever ; and also to make, have and use a common seal, and the same to break, alter or renew at their pleasure ; and also to ordain, establish and put in execution such bylaws, ordinances and regulations as shall seem necessary and convenient for the government of said corporation ; and for the making whereof, general meetings of the stockholders may be called in the manner hereafter specified, and generally to do and execute all acts, matters and things which a corporation^ and body politic in law, may or can lawfully execute or do, subject to the rules, regulations, restrictions and provisions, hereafter prescribed
and declared
4. Be it further enacted, That as soon as one thousand shares Subscribers to shall be taken in the stock of said bank, and the required N^-JS£ dfcSLs. ments paid to the commissioners who keep the books, notice thereof shall be given in the gazettes published at Newbern, and a meeting of the subscribers to be held ten days at least after the date of the notice, shall be called. If at this meeting those or their agents who have a majority of votes according to the rules hereafter described be present, (if not, another meeting shall be called,) they shall proceed to the election of seven directors, who shall take charge of the books and money in the hands of the com- missioners, and immediately pursue the usual means to put the
68
MERCHANTS BANK OF NEWBERN.
Annual meet- ings of stock- holders.
When the bank may go into operation.
Fundamental
articles.
A majority of
stockholders
required at all
meetings.
How to vote.
Qualifications of directors, election of pre- sident, &c.
Cashier and other officers to be elected and shall give bonds.
Duty of the cashier, &c.
bank in operation. The said directors shall remain in