Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1868-12-04
Manufacturing company,

ne lohoWing OH proposing 10 lDcOFpo-
rate company under the above name and
style was introduced, by Senator Rodgers,
in the Legislature yesterday, aud will
doubtless go through without any trouble
A Bill to incorporate the Tennessee Manuiac-
turing Company.
Section 1. Be it enacted by the General
Assembly of the State of Tennessee, That
there be and is hereby created body pol.
tito and corporate, 10 be known in law as
the Tennessee Manufacturing Company.
To have succession and corporate exist
ence for the term of ninety-niue years,
with the power and authority of contract
ing, and being contracted with, ofsuing and
being sued, of pleading and being i'm.
pleaded, and TO be endowed with all the
rights, privileges and immunities apper.
tanning to other interpretations granted by
the State
Provided. however, That none of the
powers hereby granted shall be so COM
strued as TO authorize The issuance Of notes
for circulation, or in any wise engaging in
the business of banking.
Section 3. Be it further enacted, That
the capital stock of said company shall be
one million of dollars, divided into shares
of one hundred dollars each. The same
TO be considered in law as personal prop
erty; TO be transferable on the books Of the
company and then only when the share
holder shall not be indebted to it for Ut
paid calls or installments or otherwise, I'M
less it be with the consent of the company
had through its directory.
Sec. 3. Be it further enacted, That the
following named persons, viz: D Nor
gan, james NJ Hamilton, A @ Adams, K
IL Gardner, 7 A Atchison, Byrd Douglass,
George Thompson, ] M Hill, A F Goff, A
V S Tindsley, ] w Wilson, c K Winston,
A II Hicks, Samuel Pritchett, Byrd
Rhes, B r Mckenzie, X ] Morris, A s
Colyar, d F Carter, John M BASE, Thos ]
Harding, w Allen, Felix Demoville, NJ
Burns, John Kirkman, William Nichol,
ST., Andrew Hamilton, Thomas Farrell,
HBuddike, Samuel Watkins, J Bloomstine,
J II Kendrick, I NJ Buck, N Mcclure, w
w Berry, F X Cheatham, James Whit
worth, John M Lea, w A Cheatham, Jno
H Williams, w r Ellisten, Abram De-
moss, r c McNairy, Hugh Douglass, W
h Evans,.F Furman, l. Yaryan, Harry
Yeatman, Daniel Hillman, ] Sax, Matt
McClung, A G Sanford, Jesse Warren,
VIM Simmons, Arson Nelson, ] E Man
love, and w d Talbot or any three or
more Of them may act as commissioners
for receiving subscriptions to the stock of
said company, either by opening books
publicly or otherwise. To regulate and
| fix the amount of the first installment 10 be
paid in the same (lhe remaining calls or
installments 10 be made By the directory
hereafter provided for and to do all other
| acis essential TO the organization of the
company.
Sec. 4. Be it further enacted, That the
said company shall have the right Of en-
| gaging and employing its capital and
credit in any industrial, mechanical or
manufacturing pursuit it may deem ad-
] visable; 10 purchase, rent, clear, receive
in gift, or hold as security for debts due it
/ or to become due to it, such real, personal
or mixed estate as it may deem expedient
for conducting its operations: and to erect
buildings aud other necessary or useful
l appendages, create, maintain and operate
motive power, the same to use for its own
| purposes, or to sell, rent, lease, or dispose
Of otherwise at its pleasure.
Sec. 5. Be it further enacted, That when
the amount required to make its organiZa-
| ton legal land which shall be not less
than fifty thousand dollars is subscribed
| for, the shareholders may elect or appoint
Board of Directors, to consist of not less
than three nor more than nine, from their
cwn body; the number then to be elected
or appointed, to be decided on at the meet
ing held by the stockholders to organize
the company.
In all elections held by the share holders
the rate of voting shall be one vote for
each share. Provided, however, that no
stockholder shall either in person or by
proxy, vote, who is in arrears in the pay
meut Of any installment, due on his or her
stock, and that in case OF default 10 pay
ment of any calls made, (said default con-
tinuing for three months or more) the
amount previously paid on such stock,
may be declared by the Directors as for
feited to the company, or 1t may be sued
Tor and recovered as any other debts may
be.
SEC. G. Be it further enacted, That the
Board Of Directors shall appoint one of its
own body as President, who, with the con-
currence ola majority of the Directors may
appoint all other officers, agents and ser
wants of the company, and may also enact
such bylaws as are necessary, as we'll as TO
| establish or adopt corporate seal, the
same altering or changing at its pleasure.
SEC. Z. Be it further enacted, That this
act shall be in force from the time Of its
passage.