The Sumter watchman. [volume] (Sumterville, S.C.) 1855-1881, 1871-05-24
LAWS OF THE STATE.
Acts and Joint Resolutions, Passed py
,he General Assembly of South Caro-
lima, Session OF 1S70c71.
EoFFICIAL.]

A
LIMA PHOSPHATE AND PHOSPHATE
RIVER MINING COMPANY, IN THE
STATE OF SOUTH CAROLINA, AND TO
GRANT TO THE PERSONS THEREIN
NAMED. AND THEIR ASSOCIATES, THE
RIGHT TO DIG AND NINE IN THE
REDS OF THE NAvIGABLE STREAMS
AND WATERS OF THE STATE OF SOUTH
CAROLINA FOR PHOSPHATE ROCKS
AND PHOSPHATE DEPOSITS.
SECTION l. Be 1t enacted by the Sen
ate and House Of Representatives Of the
State of South Carolina, now met and
sitting IN General assembly and |y the
authority cfMe same:
That the State Of South Carolina does
hereby give and grant to the following
persons, to wit: R. B. Elliott, Robert
,Smalls, VS. Whipper, N. B. Meyers,
lucius Gimbush, W. B. Nash, s. A.
Swails, H. j. Maxwell, James NJ. Allen,
W. H. Jones, B. A: Bosenan, B. Byas,
Edward Mickey, E. .Nehemias W. R.
Jervey, j. N. Hay ne, Timothy Hurley,
Arson w. Thayer, john B. Bates, j. c.
Mayo, James NJ. Crofut, F. j. Moses, Jr.,
A I Rans;cr G.. w. Montgomery, B. +.
Whittemore aud R. A. Sisson, and such
other persons as they may associate
with them, the right to dig, mine and
remove, for the full term Of thirty years,
from the beds q the navigable streams
and waters within the jurisdiction ofthe
State of South Carolina, the phosphate
rocks and phosphate deposits Provided,
That the persons namcd, and their as
sociates, shall not Ill any way interfere
with the free navigation Of the naviga.
bic streams and waters Of this State, or
the private rights ofany citizen or citi-
zens residing upon or owning the lands
upop the banks Of the said navigable
rivers and waters Of the State.
SEC. .. That this gift and grant is
made upon the express condition that
said grantees shall pay to the State Of
South Carolina the sum of one Cd dollar
per ton for every ton of phosphate rock
AID phosphate deposits, dug, mined and
removed iron the said navigable rivers
and waters of the State And further,
that the said grantees shall pay into the
treasury of the State the sum OF five
hundred dollars as license fee before
commencing business under said grant.
SEC. 8 Before commencing operations
under authority of this act, said grantees
and their associates shall file, or cause to
be filed. in The Office of the State Audi
tor, a bond in the penal sum OF hfty
thousand (s5O,OOOJ dollars, conditioned
that said grantees and their associates
shall make true and faithful returns to
said State auditor, annually, on or before
the first day of October, and oftener if
required by the said State anditor, OF
the number of tons Of phosphate rocks
and phosphate deposits dug, mined and
removed by them from the beds ofthe
uavisable streams aud waters Of the
State, aud shall punctually pay TO the
State treasurer annually, on the first
day Of October, one (SD dollar per ton
for every Ion of phosphate rocks aud
phosphate deposits by them dug, mined
and removed from the beds ofthe navi-
gable streams and waters OF the State
during the year preceding said bond
to be renewed annually, and approved
by The attorney general. The books of
said grantees aud their associates shall
be open to the inspection Of the State
auditor, or agent duly appointed BY him
for that purpose.
SEC. +. That the capital stock Of said
company shall consist of two million
(2,000,0O0) dollars, to be divided into
shares of enc hundred dollars each, with
the prirelige OF increasing the same TO
an amount not exceeding FIVE million
dollars; and when the sum Of three hun
dred thousand dol, ,ars shall have been
subscribed, the said company may be
organized and 90 iuto operation.
SEC. 5. That he profits of said COM
pany may, from time to time, be divided
among the stockholders according to
such rules and regulations as they may
prescribe, not repugnaDt to the laws OF
the State.
Sec. G That the stock Of said con-
pany may be transferred in such manner
and form as may be directed by the by
laws oil the company.
SEC. 7. The said company shall be en-
titled to all the rights and privileges
accorded to other corporations incorpo-
rated by the laws ofihis State Provided,
That nothing in this act shall be con-