Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-03-07
TENNESSEE MANUFACTURING
COMPANY.
A Liberal Donation Of Land.

A Liberal Donation of Land.
We publish below the charter granted
the Tennessee Manufacturing Company at
the late session of the Legislature. The
charter Of the proposed company is liberal
in every respect, and the Board of Com.
missioners consist Of a number Of our
worthiest and most energetic citizens
men not likely to fail in any enterprise
they undertake, as they have been very
successful in the arrangement of their own
affairs, and are well known for good iudg-
ment in all the relations of commercial life.
In connection with the formation Of this
company, it is not out Of place here 10
state that the company which has made
purchase Of the McGavock land in North
Nashville, on Friday last made TO the con-
templated cotton manufacturing company,
tender Off site for its mill of ten thousand
spindles. The cite consists of abou. fous-
teen acres, lying between a continuation Of
Spruce Street on the west, and High
Street on the east, and bounded by Taylor
Street on the south and Hume Street on
the north.
This magnificent and very liberal ate
embraces the old McCavock homestead,
with its fne large spring, affording ample
water for several such manufactures, and
lying Immediately west of the Horticul-
tural Garden. The cite is rendered as a
free gift TO the contemplated manufacturing
company, and such liberality is worthy of
all praise. In The event that the mill is
located on these grounds, the entire
property of North Nashville will be
enhanced in value, and the day will not be
far distant when the beautiful suburban
property which surrounds that portion of
our city will be eagerly sought after by
those who desire to make good paying in
vestments
Here is copy OF the &C! referred to:
SECTION l. Be it enacted by the General
Assembly of the State of Tennessee, That
there be and is hereby created a body pol
AhAI anu wi POiatC W DC huOnu III law d
"The Tennessee Manufacturing Company"
to have succession and a corporate exist
ence for the term of ninety nina (99) years
with the power aud authority Of contract
ing and being contracted with; suing 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 30 con- /
strued as to authorize the issuance of notes
for circulation, or in any wise engaging in
the business OF banking.
Sec2. Be it further enacted, That the cap
ital stock of said company shall ne one
million of dollars, divided into shares of |
one hundred dollars each the same to be |
considered in law as personal property: to
be transferable in the books Of the GONNA
ny, and then, only when the shareholder
shall not be indebted to it for unpaid
calls or installments, or otherwise. unless
it be with the consent of the company had
through its directory.
Sec. 3. Be it further enacted, That the
following persons, viz: s. d. Morgan, Jas.
NJ. Hamilton, A. G. Adams, r. II. Gard
ner, I. 4. Atchison, Byrd Douglas. Geo.
Thompson, John NJ. Hill, A. F. Goff, A.
V. S. Lindsey, J. w. Wilson, C. K. Win
ston, A. II. Hicks, S. Pritchett, 3. S. Rhea,
B. K. McKinnie, X, J. Morris, A. S. Col
var, D. F. Carter, j. NJ. Bass, Thos. Hard.
ing, J. W. Allen, Felix Demoville, John
Kirkman, NJ. Burns, w. Nichol, Sr.. Tbos.
Farrell, Andrew Hamilton, J H. Buddeke,
Samuel Watkins, j. Bloomstein, James
H. Kendrick, T. NJ. Buck, N. Mcclure.
w. w. Berry, F. r. Cheatham, James
WhitworLh, }. II Williams, John NJ. Lea,
". A. Cheatham, W. K. Ellison, Abram
DemOss, r. G. McNairy, Hugh Douglas,
w. III. Evans, F. Furman, J. l.. Yaryap.
Harry YeatmaD, Daniel HilIman, J. Sax,
Matt McClung, A. G. SANFORD, Jesse
Warren, W Simmons, Arson Nelson,
J. E. MaDlove and w. D. Talbot, or any
three or more of them may act as COM
missioners 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 to be paid on the same (the
remaining calls or installments to be made
by the directory hereafter provided for),
and to do all other acts essential TO the Or
ganization of the company.
Sec. 4. Be 1t further enacted, That the
said company shall have the right Of en-.
gaging and employing its capital and credit
10 any industrial, mechanical or manufac-
turing pursuit it may deem adyisable-to |
purchase, rent, lease, receive in gift, or
hold as security for debts due it or to be- |
come due 1t, such real, personal or mixed |
estate, as it may deem expedient for con-
Quoting its operations; and to erect build |
iugs and other necessary or useful append
ages-create, maintain and operate motive |
power-the same TO uef r its own pun |
poses, 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 organize
ton legal and which shall not be less
than fifty thousand dollars) is subscribed |
for, the shareholders may elect or appoint |
a Board OF Directors, to consist of not less |
than three (3) nor more than nine 90 from
their own body the number thus to be
elected or appointed to be decided on at
the meeting held by the stock holders
to organize the company. In all cleo.
tions held by the shareholders, the rate of
voting shall be one vote for each share.
Provided, however, that no stakeholder |
shall either in person or by proxy, vote
who is in arrears in payment of any install
ment due on his or her stock; and that in
case of default in payment of any calls
made said default continuing for the time
of three months or more), the amount pres
viously paid on such stock may be declared
by the directory as forfeited to the compa-
ny; or it may be sued for and recovered az
any other debt may be;
Sec. 6. Be it further enacted, That the
Board of Directors shall appoint one of its
own body as President, who, with the con-
currenCe Of majority of the directors,
may appoint all other officers, agents and
servants of the company, and may also
enact such bylaws as are necessary as
well as to establish or adopt a corporate
seal, the same altering or changing at its
pleasure.
Sec. z. Be il further enacted, That this
act shall be in force from the time Of it's
passage.
Horse Thieves.
The Huntingdon West Iennsssada of the
dfb mat