The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-02-11
BANKING FACILITIES.
An Act to incorporate the South Carroll
nm Loan and Trust Company.

1st. Be it enacted by the Senate. and House
of Representative now met and sitting IN
General Assembly, and by the authority OF the
same. that George :. Cameron, j. NJ. Blakely,
Arch, bald s. Johnston, L. D. Mowry, j. q.
Farrar aud such other persons as may here
af or be asso aatod with them. and their sue
cessors and ass gns, are hereby constituted
body corporate uuder the namo OF the South
Carolina Loan aud Trust COMPANY; and by
that name shall have succession, and may sue
or be sued in any court whatever. with sucn
powers and privileges as are hereinafter pro-
yidcd.
81. Be ii further enacted, That the capital
stock O. SAID company shall not exceed hVe
millous OF dollars, divided into shares or one
hundred d ,llnrs each; but when two hundred
Thousand dollars thereof shall have been
actuaII, subscribed, and une hu ldred thous-
aud dollars paid n in cash, the said company
mly organlzo and proceed to Dusle's unuer
tnlS act.
Sd. BE n further enacied. That the said com
pany shall nave power TO make ADVANCES 10
pla,,i ers, tor tho purpose OF developing the
AGRICULTURAL interest vi the State, upon iuans,
uiur, Cages, or part interest III the crops 10 oe
rals ~; To receive deposits OF money, and other
valuau. es AMI issue rccelpts r'r tse sanie' 70
buy aud sell b. Ids, bills VI exchange ahd pro-
m ssory uutcs, an / lyalce aud loan monles'
securities AMI crIds, and may charge aud re-
sion on advances of mon,y, and negotiating
loans, ss may b, agreed upon b,tween SAID
company ard tuo party or partlls buying or
selling sucu bunds, bills Uf exchange. uni pro-
mlssory notes, Or borrowing, " receiving Sucn
monies, securities, or credits, and such com
In ssio ur interest may be mo 10 Payuple 10
mouey, or iu share OF lhe products or piohts
Of the property given or pieigeo as security
for such lOun and advances, or partls IN mon
cy or partly IN share Of such produc or pro-
fi 8, without creating any partnership or JOINT
Inability be Wscn sud company anu sald party
or pur. le,; Provided, however Inat tne rate
OF interest Oh the | ,ans to 5e made shall not
exceed the rate OF interest ailowcI Dy tne laws
of this State; aud tbe 81 lid mpany snail nave
power to take and hold, as security Tor, or LII
payment of an, loar q or advances made, mort
r.Iy.s or uluer ms ;rupenis or oblISatlons
u,rn or aff Ing rs.i. PERSONAL Or mixed pro-
p,ry. an IN ~ cancel or Sst gn the same; ahd
said c"mpany shall have power TO purchase,
hod, seli, cxcha go, and convey polds, OF
other pruperv> ., ally nature, IN may execute
ami issus aIl sLch receipts. certlticates, cou-
lrIots. or oil aer Instruments, as m ua neceS-
-ury for tho transaction OF lis bus n ss. Salu
q IN lt,Iy nlLv, nt L.eir liscrctlo GUARANTEES
luc OF tie principal or interest. or both,
M ut> Io~.s bonds. bills or XcLaNgc OF otl!eI
evld, n3u Of deb. OF individuals or boIies cur
purlto ;l.ld r,c:ivo 'ucu comp -tia.stion Iiierc-
| tor as ma, b. anrcsu upon Da'"tch 'sc Pai
| tlea.
4 IL. Ee il furitsr cnac'ed, That the SAID
cim ,an. IN dave power to receIv5 monlcs
IN lrue or III do,,;sit, "nl 10 Invest or accu
,nu!,,e tuo s,Ir.c at such ra vi lntei, g. rs may
be agrceL o.l. VI 10 allow sucn Intcrest thereon
| as ,n.y be- l. a:!ccd on, sIIil have puw9r to &C
CO 1t aud execute I'll Such trusts vi evo:y de'
s.riplioa as AID, b, cJ.amlt!ol 10 tIen bi any
pe sou Or pers, Ms, wboms over, or auy Cor,
| pura,iun or may Ds co nin!ted or ransf 'rreu
| 10 them BY any cour.; and shsu have power to
tnke uld ucccpt by qua 1t, ass 6 .ln''nt transfer
devise, or Ueq rcst and Iold any rcAl aud per-
sonal eslato IN trust. Cle,ted Ill accordance
with the laws vi this S'ate, amd execute such
le: oil fruits III @ slrd 10 Tho same. Il sue
as NAV be d cial OF s:ab lsued OF agreed upon
III regard therelo.
5tn. Be Il 1u,Gher enacel. That the tu=i
nos, aud cirD ,ra:o poacr3 Of said ,nlpIny
q la.l bo exerc.srd b. b3srd Of not less thar
! five dIrcc rs, 10 bo chos n as ncre i,af CT pro-
vi le,,, wuo sail e;cot from their number q
uresi,. IT, umd may declare by laws haI mum
ber OF uirrc ora s;I.lI Do u quorum for TN
| Trans icIlln uf bus Des'.
9Th. Be u Jurher enacted. That George s
uam:on J. Al. Bgkcly. Arch.bIld S. Jobn
sion, l.. D. lowry J. Z. Fa.rar. named N thu
! first secLlon OF this act, or any two Or more