Southern telegraph., 1838-03-27

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TO INCORPORATE THE SUBSCRIBERS TO TIE
| RODNEY SHIPPING COMPANY.
SECTION |. BE it enacted by tie Legisla-
turc Of the State Of Mississippi, That there
shall be established at the town of Rodney,
in the State Of Mississippi, a company, with
capital of Five Hundred thousand Dol
lars, divided into five thousand shares of
one hundred dollars each share, for the
purpose of pressing and rc-pressing Cotton !:
| OF transporting by steam tQw-hoats, steam
boats, barges, and all other river and sea
| vessels: and of importing into, and export
ing from the Safe of Mississippi, and all
| other States, and fore ign countries, goods.
| wares and merchandise, cotton, produce,
| commodities and effects, of every kind, as
freight for others, or on their own account.
| and Of buying and selling the same on their
own account, and also of buying and selling
| the same on commission, for account of
others: and to charge and receive therefor,
the usual rates Of commission; also, to
convey passengers, and generally to do all
| acts, and to transact all business, which any
private commercial co-partnership or firm
can do.
SEC. 2. Be it furtatr enacted, That sub
scripion for the capital stock of said Com
pany, shall he opened in the town of Rod
ney, on the day which shall be fixed upon
by the following named commissioners, aud
under their superintendent, viz: Thomas
w. Beck, Andrew Montgomery, Nathaniel
Harrison, Jeremiah b. Warren, Th A Comp
ton, Alva Farnsworih, and John NJ Duffield.
or ~ u. I
open every day, between the hours of ten
o'clock in the forenoon, and four o'clock in
the afternoon, for the term of six days,
| (Sundays excepted, and shall continue open
| after the said term Of six days, unless one
hundred thousand dollars shall have been
subscribed, and shall continne open until
said one hundred thousand dollars of stock
| at least, shall have been subscribed, if not
subscribed during the said six days, the said
commissioners also giving at least four
weeks previous notice of the time and place
| OF opening said subscription, III a newspa,
per printed in each of the following places,
in the State of Mississ ippi, to wit: Rodney,
Port Gibson, Vicksburg, Jackson, and
Natchez. The said commissioners, or a ma
jorlty of them, as soon the subscriptions
| shall be closed as aforesaid, shall proceed
| to take an account of said subscription, and
! if more than the one hundred thousand dol
lars shall have been subscribed for, the said
| superintendent shall allow the same to-
wards the remaining four hundred thousand
dollars Of the capitai sroch, aud IL euIe.-:r
tons shall have been made greater than the
| capital stock of five hundred thousand dol
lars, they shall deduct The amount of said
| excess from the largest subscription in such
manner as that no subscription shall be re-
duced in amount while any one subscription
shall remain larger; and in case of said
deductions, said commissioners shall cause
a list Of said apportioned subscriptions to be
made out, that the subscribers may thereby
ascertain the number of shares apportioned
to them respectively. The amount of shares
subscribed for, shall be paid as follows, to
wit: ten dollars on each share at the time
of subscribing, and the balance Of ninety
dollars upon each share, to be paid at such
times and in such ins,almen's us the Board
of Directors to be appointed by the stock
holders, may require-giving thirty days
previous notice thereof, by advertisements,
in newspaper printed in the town of Rod
ney. Each subscriber shall be required
to pay in, one half of the amount OF stock
subscribed for, within twelve months OF the
time Of subscribing-the remaining half OF
the said stock to be paid for within two years
from the time Of subscribing; and the said
commissioners shall pay over the amount OF
money received upon stock, upon the order
of the Board of Directors.
Sec 3. BE 1t further enacted, That as
soon as said subscription for stock shall be
closed by said commissioners, as provided
in the preceding sections, the subscribers,
their successors, and assigns, shall be, and
they are hereby created, body polite and
corporate, by the name ofthe Rodney Ship
ping Company, and shall SO continue until
the tbirty-first day of December, AID. eigh-
teen hundred sixty-two, and by tina! name
shall be able and capable in law, to contract
for, purchase, receive, enj,y and retain, to
them, their successors and assigns, steam
and other presses, sea vessels, steam tow
boats, steam boats, ,barges, and every dcs-
cription Of boats and sea vessels, slaves,
goods, chattels, wares and merchandize,
produce and effects, Of every kind, nature,
and quality; and to grant, sell, ALLEVIATE,
barter exchange and dispose of the same;
to purchase, sell, and deal in foreign and
domestic bills of exchange, at the usual
rate of interest, to issue and t.ke ills
Of exchange and promisory no:es, and to
loan and advance money, AMI to charge
and receive legal interest therefor. The
said Company shall not, however, issue
bank notes, have any bank, or exercise
| ..,;,:loro,. hat II Oh, II i,s u l,to md