Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-07-31

4 y Act 10 incorporate the Shelby Mining and aiannf,r turing
! : Company. see. 1T. lie It enacted by The senate ana hoiiss
al Representatives Of the STATE IL aIahamr in General h>scmhi;
convened, That Shafshali 4. GnH,ty and Mai. ''e"Ts' t'ti-'!, III
JGo. II. Grassy, and ,icil m!lcr persons ~ ac aud may hefcait.
heconir associated wih them Tor The purpose Of mining and ma.
nlit' turing iron, cotton, gram, &c. And should ne COMPANY
iaink proper II raise aud manufacture sAH, they shall be and
hereby are incorporated and made a body polite 10y the nanle and
>t!le OF the Shelby Mining and Manufacturing Company, i"r tn,
purpose oil mining and manufacturing, and 10y that name they ana
ifnr shccrss"Is shall be persons III law capable OF sums anu br!he
sued. pleading and being implicated, answering and being an,
places u! whatsoever, III all manner al actions, suits, complaints, and
causes whatsoever, and that they and illrir successors s'fhiI have
i common >'hl' ahh make, change am" after ~ same ~ 'h'''
pirasnrr-and also that they and thur successors, by The sane
ni.nc y" s,lsc, shall be- III la" capable 81 itfcit,!"s, irh>i"s,
ho!ilhs ~. Conveying any estate, zeal or iS:s''h'' 10 me - "
Sc. "a. Ec it further enacted, That the capital stock of said
corporation may b. AT present tnFtr hundred thousand d"i',r--
and II ~ any time hereafter Tie said company ,liaii deem II ~"
cesar! or beneficial Ia their concern. The SAID capital may hr ~
creased TO" sIln MT exceeding I'VE hundrg" thousand I"!tirS
that 4 >Hh'c OF ihr said ca;ilal stock shall h one hundred 'uiiar',
pri'Gtai 's'%'f. IN ~" cas-" !" whatsoever SIhtli az ,nt,H'h! ~
aagr. III any business not siIiotly consistent WIKI and appropriate
10 the objects defined IN tie hr,t ~ccnon OF this h!I.
Sec. 81. Er i farther enacted, That Tor III" better carrying into
execution fhG privilege. .r"utcd hy thIs net, there sira', . - h'aia
froti their number a President, and a majority Of said board o.
directors present at any meeting >nall. have power 10 transact bH.
Sec. lh. b. it further enacted, That n; all elections otdii"ctor'
Of the said %cninPanH- each pfnnnei"r 81 tour s'iairs r'aii W 'n''
tied TO one vote, each proprietor Of ri-ht shares sitall b. entitled
u Two votes, rac!. proprietor 81 twelve >tare- smi hr cIliu," ~
'hrcc votes, each proprietor q sIAtrrn ;taro. Stl,i ot mill, ,,i"i ~
.umr votes, each proprietor oi twenty shares shall be- rhilti"h -
IKE votes, each propI,:o. oi 'huiy shares ,l&ii i' cili''d u
slN vptc>, each proprietor Of forty s!'.''s ,Laii he rnti"rd !" eve
v,trs, each proprietor If ms shares hail b. entitled I" riGhtv"t's,
each proprietor IL siHt, shares ,lrail b. entitled 10 nirc '"'"', cirl
rr3rr.,.r Of r,cliy .lares ,!stI he .url!cd to eleven VOTES, each
proprietor III ninety Irarc- shglI be- entitled 4" lively" votes, "a@h
urnnri.inr If on lnu!r,L ,.!ar.- .ilnll h. entitled 10 thirteen votes,
each proprietor Of IN. luGIrcd ard twenty shares -hnll be- rnii'
ted 10 f,I:i..H N"'"< each proprietor u nIt hundred ana i"t'S
shares .laI be-. rnuacd 10 fifteen sorr-, each proprietor Of one
hundred aud -isty ..ans Shall h. rithled 10 sixteen v''r'. rnch
proprietor al one i,ndrsd and eighty shares shall he rn'il'd -
seventeen yur.>. and each pT"prcloT 0i two hundred star"- ~
upwards shalt Il, c,tttiud 10 eighteen votes: Am! . majority at All
the votes -haiI To- necessary t"a ci."i'". -
President and iuT,rt '~ ~ ir" >lIi company, on N "Ir' iN"'"H