The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-04-17
out this State, as the board of directors may

SEC. 8. Such corporation shall have full power
to purchase, lease, receive, hold n convey
real estate, or any interest therein, and may, in
addition thereto, use such real estate, or any
interest therein, as may be necessary for the
convenient transaction Of the business, and
for efectually; carrying on the. operations Of
said corporation; and may appoint such direc-
tors, officers and agents, and make such pru-
dental rules, regulations and bylaws as may
be necessary in the transaction Of its business,
not inconsistent With the constitution of this
State or of the United States.
SEC. 4. Hany wner or owners Of any land
taken or used, or likely to be taken or used, by
said corporation, shall consider himself az
grieved, or likely so to be, or damaged thereby,
OF shall refuse to accept the compensation Offer
led by said corporation therefor, it shall be the
duty Of the Circuit Court, toa:be held in the
county within which said lands are, on the ap-
plication Of such owner or owners, or OF such
corporation, by petition, stating the facts IN
relation thereto, andon such notice to the OPP
.posite party as such court shall prescribe, 10
three disinterested persons as commits
sioners, who shall Sc 7erally take and subscribe
an oath, before any person authorized toadmin-
lister oaths, faithfully andimpartIally to perform
the duties required Of them by this act; and it
shall be the duty Of said commissioners, or q
majority of them, to make 8 just and equitable
assessment or appraisement Of all the losses or
damage sustained, or which is likely to be aus
tanned, by reason of any land, or interest there
in, taken or used, or likely to be taken or
used, for said Offices, liens, posts, piers or
abutments, and the erection and operation OF
said telegraph lines; and such assessment or
appraisal shall, in any proper case or
cases, determine the annual rent or compen-
sation to be paid by such company for such use.
or, in lieu thereof, a sum in gross as the COM
pensation for allowing the fixtures belong
ing to such association permanently to con-
tinue, aud the sam to be repaired, improved
and renewed or removed, from time to time, as
such corporation shall require, duplicates OF
which said assessment or appraisement shall.
be redu led to writing and signed by said com.
missioners, or o majority Of them, one copy OF
which shall be delivered to the party alleged to
be injured, or likely so to be, and the other 70
the president of said corporation, on demand;
in case any damage shall be adjudged to the
person alleged to be injured or damaged, or
likely 30 to be, the corporation shall pay the
amount thereof, with costs OF appraisal, which
said costs shall be liquidated and ascertalneo
in said award; and said commissioners shall
each receive, for their services, two dollars for
each day they are actually employed in making
said appraiaement; end upon payment OF such
award, the right, title, interest or property de-
s,ribed in said assessment or apportionment,
shall become and be vested in and be the prop
erty OF such corporation.
SEC. 5. The capital stock Of such corporation
shall be fifty Thousand dollars, to. be divided
into two Thousand shares Of twenty-five dollars
each. which may be increased, from time to
time, to such an amount as and whenever Ina
iority Of the stockholders present at any gene
raj meeting shall elect; books OF subscription
NAV be openedto obtain the amount OF stock
first above named, at such time and place
within this State as majority of the persons
| first above named shall determine, and for the
increased stock in such 8 manner as the SAID
corporation may deem expedient; and the
said corporation shall go into operation ut
such. time az q majority OF the stockholders
may fix.
Sec. 6. Such corporation may lease. sell or
convey it's property. rights, privileges and
franchises, or my interest therein, or any
part thereof, to, or. may unite with, any teie-
graph company organized under or created by
the laws Of this or any other State; May ac-
quiro by lease, purchase or conveyance, the
property rights, privileges and franchises, or
apy interest therein, or any part ther col, OF
any telegraph company organized under or
created by the laws Of this or any other State,
and NAV make payments therefor in it's "
stock, money, bonds or property, or receive
payment therefor in the stock, money, bonds
or property Of the corporation to which the
same may be sold, loaned, or mortgaged OF
conveyed, or Of any other corporation or cor
porations: Provided, however, that no'such
purchase, sale, lease or conveyance by any
CORPORATION shall be valid until the written con.
sent OF the holder or holders Of a majority OF
the capital stock shall have been obtained.
SEQ. 2. The stock subscribed for may be issu-
ed at such price Of subscription, and upon such
terms of payment or exchange, as the holder
or holders OF d majority Of the stock at such
time shall determine, except that the hrst sub
s~criplion price, terms OF payment or s1change
shall be fixed by the persons first above M
ed; and any corporation or corporations may
subscribe for, purchase, hold, sell or convey
the CAPITAL stock of this corporation, as often,
and to as great an extent; az such corporation
or corporations may deem advisable.
SEC. 8. That said corporation may issue bonds
for such an amount as the officers shall hx, and
mas secute the same by a mortgage upon 80
much of the property, rights, privileges and
franchises of said corporation as may be nam
ed in such mortgage. which mortgage may be
recorded IN the Office of thu registrar Of mesne
conreyances in the County of Richland, in this
State, and thereupon, and thereafter, it shall
become and be a lien Upon all the property,
rights, privileges and franchises. or Of any in
terest therein, and of any part thereof, describ'
ed in said mortgage.
SEC. 8. Any person who shall wilfully and
maliciously ~ipjure, modest or destroy any Of
said lines, posts, piers or abutments, or the
materials or property belonging thereto, SHALL
on conviction thereof, be punished by a fine
not exceeding five hundred dollars, or inn
p%risonment in the Penitentiary at hard labor