The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1867-02-26

ANaACT TO incorporate the President and
Directors Of fhe Mississippi Society OF Arts
and Sciences.
Section l. Beit enacted by the Legislature
! on the Stats OF Mississippi, That Landy a.
Lindsey and Marion Smith and their asso-
oiates and successors be, and they are hereby
declared to BIO body corporate and politic,
under the nnme and style OF the mississippi
Society of Arts and Sciences, that they shall
have d common seal and power and capacity
TO contract, sue and be sued, and TO receive
hold and enjoy for themselves and their sue
ccssors property, real and personal Of every
character or description whatever ana may
sell or transfer the same as they may deem
proper for the purpose and object OF TINS
charter which Is hereby declared TO be ior
the benefit of the common schools OF the
State OF Mississippi,
Sec. 2. Be it further enacted, That the
capital stock Of said corporation hereby
created shall not exceed Ave hundred thou.
sand dollars; and that for the purpose OF
raising said stock, said Association are here
by authorized to open books Of subscription
for stock in shares Of fifty dollars each at
such times and places and for such length
of time as the members of said Association
may deem best, and that upon tho sum OF
twenty Thousand dollars being subscribed
and paid In, the said Association shall be or
ganized by the election of President and
six Directors, who shall hold their offices
for the term of one year from the date of
their election, aud until their successors are
elected and qualified according to tho laws
of said Association.
Sec. 3. Be 10 further enacted, That said
Association shall have power to appoint such
other officers, or agents as they may think
proper for the purpose of adding in the con-
Quoting of tho business of the Association
and to remove them at pleasure, and to on
act such bylaws not inconsistent with the
Constitution or the laws of the State of
Mississippi, as to them shall seem necessary.
Sec. Be it further enacted That
the stock of said Association, may
consist of money paid or secured to be
paid to the satisfaction of said Association,
or Of property, real, personal or mixed !:
and II the same shall consist of property,
real or personal, the same shall be received
inipayment of subscription for stock, at q
valuation to be fixed on the same, under
such rules and regulations, as the said Asso-
citation may adopt, each fifty dollars value
said f R9 BIS Eef sS 81 Sat o e as II
the same had been paid in money and GER
tiicates of stock, whether paid for in money
or property shall be issued for each share SO
paid in.
Sec. 5. Be it further enacted, That the
said Association, in order to enable them to
raise the funds necessary for the purpose
herein specified, may at any time they see
proper divide the property or money of said
Association, into lots or parcels of such size
or value as they may think ft, and they are
hereby authorized and empowered to dis
pose Of said property by lot, and to issue
and sell tickets for that purpose under such
rules and regulations as they may think
proper: Provided, That ON the disposition
of such property by lottery no drawing shall
take place until the expiration of thirty
days after public notice in at least one news
paper published in the city of jackson.
Sec. 6. Be it further enacted, That the
domicil of said corporation shall be at jack
son, in the county of Kinds, in the State of
Mississippi, with such officers at any other
place or places as, in their Judgment, may be
found necessary to conduct their business.
Sec. q. Be it further enacted That the
said Society of Arts and Sciences, before
commencing business, shall pay into the
State Treasury, the sum of five thousand
dollars and annually thereafter, one-half of
one per cent upon the gross amount arising
from the sales of tickets, for the benefit of
the Common Schools of the State of Missis-
blpDl anu IL SudIl Uo bH6 uuby VI uuO 4 les
ident ofsaid Society or Company on the first
day of January in each and every year, to
file in the office of the State Treasurer, and
also to publish in some newspaper in the
city of jackson, a detailed state
ment of the affairs and condition
of said Association, exhibiting the
proper and just amount SO falling due
from the sales of tickets for the purpose
specified in this act. This franchise to con-
tinue for the term of twenty years from
the organization of said society or company.
Sec 8. Be it further enacted, And if any
officer agent, or other person connected with
said corporation, shall violate any of the
provisions of this or shall commit any fraud
in the sale of tickets or in the drawings
herein provided for, he shallbe guilty of a
misdemeanor, and on conviction thereof
shall be fined not less than one thousand
dollars, and imprisoned in the county jail
for not less than six months, at the discre-
ton of the COURT and said President and
Board of Directors shall give bond in the
penal sum of five thousand dollars each,
with good and sufficient security to be APP
proved by the State Treasurer conditioned
for the faithful performance of their duties
Sec, O. Be it further enacted, That this
act shall take effect and be IN force from and
after its passage
81. GHOLSON,
Speaker Of theH ouse Of Representatives.
II. SEAL,
President of the Senate.
Approved Feb 81, 1867.
BEL G. HUMPHREYS,
Governor Of Mississippi.
OFFICE OF SECRETARY OF STATE,
jackson, Mississippi
I.C A. BrougEer, Secretary of State, do
certify the Act hereto attached, entitled can
Al ~ ~ 4