Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-01-20
SELF Sustaining Horse swapping
GamnanN.


The following important bill was Of
fered In the Senate at Nashville the
other day, by Colonel King, the digni6sd
member from Madison county. as an
amendment to one Of the numerous bills
pending to charter stock companies. 1t
was referred to the Military Committee.
Should the bill become law we will
notify the relatives and friends Of John
Smith, etc, and state where the books
will be opened for subscriptions. The
provisions of the bill are worthy Of q
careful perusal:
Be ID further enacted. That John
Smith, John Jones aud their associates,
shall be, and they are hereby constituted
a body polite and corporate, under the
name and style Of 1.-THE Self-SustainiDg
se-Swspping Company" and by that
name shall have succession for ninety
nine years, may sue aud be sued, plead
and be implicated; aud may have and
use a common seal. Said company
shall have full power and authority to
purchase and swap for horses. mules and
other personal property: to purchase or
lease all lands necessary for horse-swap.
ping yards.
That said company organize at such
time and place as they deem proper,
either with or without notice, by electing
all such officers, orders and business as
they may deem necessary.
Sec. 2. Said company may order and
establish, from time to time, alter or
amend such laws, rules and regulations
for the government of their affairs as
they may deem proper, and which do
not violate this charter, or any charter
granted to any corporation in the coun-
ties of Shelby or Hamilton, and the laws
Of this State.
Sec. 3 Be it further ordered that the
capital stock of said company shall not
be less than one horse or mule, and one
silver or oroide watch, worth at least sew
enty-fve cents.
That said company shall have full
power and authority to buy and sell, and
swap for all kinds Of stock, provided they
do not cheat any one out of more than
three-fourtbs the value of the property go
purchased or snapped for.
Sec 4 Should any one deem himself
cheated or swinded by said company out
of more than three-tourths Of the pro-
perty so sold, purchased or snapped for,
on four days notice to the company,
may have their matters of complaint and
grievances referred to a committee of FIVE
accomplished and competent Horse
Jockeys, to be selected by the company I;
provided that, if this company refuses to
select said committee, the person ag-
grieved may select two of the committee,
and the company the others, who shall
take all the matters in controversy into
consideration, and settle the matters by
the best lights before them; and they
shall have power and authority to send
for persons and papers, to arrive at the
facts in the case, provided that said arbi-
traitors may, if they think best, decide
the matter in controversy, by throwing
up wet or dry, or cross and pile.
Sec. s. The award of said Committee
shall be final, and no appeal shall be
granted from their award.
Sec. 6. Be ii enacted, That should said
Company be adjudged by said arbiters
guilty OF cheating any one out of more.
than three-fourths of the value of the
property so purchased, snapped for or
sold, this charter to be declared forfeited.