The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-03-31

Of the stockholders present at any gene
raj meeting shall elect; books OF suR
cription may be opened to obtain the
amount OF stock first above named, at
such time and place within this State as
a majority of the persons frat above
named shall determine, and for the Ia.
Q eased stock in such q manner as the
said corporation may deem. ,expedient;
and the said corporation shall go into
operation at such time as minority OF
the stockholders may fix.
SEC. g.. Such corporation may lease,
sell or convey its property, rights, rrivi-
leses ana franchises. or. any interest
therein, or any part thereof, to, or may,
mite with any telegraph company orga-
nized under or created by the laws of
thi or any other State; may acquire. by
lrase. purchase or conveyance, the pro-
or any interest therein, or any part
thereof, Of any telegraph company orga-
nized under or created by the laws Of
t,is or any other State, and may nuke
payments therefor in it's own 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 or conveyed, or of any other
corporation or corporations: Pro0itled,
ho,DeOer, That no such purchase, sale,
lease or conveyance by any corporation
shall be valid until the written consent
of the holder or holders of q majority Of
the capital stock shall have been OBJ
tained.
SEC, 7. The stock subscribed for may
be issued at such price of subscription,
and upon such terms of payment or ex-
change, as the holder or holders of
majority Of the stock at such time shall
determine, except that the first subscrip-
ton price, terms of payment or exchange
shall be fixed by the persons first above
nnmed; and any corporation or corpora
tions may subscribe for, purchase, hold.
sell or convey the capital stock of this
corporation, as often, and to as great an
extent, rs such corporation or corpora
tions may deem advisable.
SEQ. 8. That said corporation may
lssuc bonds for such an amount as the
officers shall fix, and may secure the
same by mortgage npon so much OF
the property. rights, privileges and fran
chises Of said corporation as may be
nnmed in such mortgage, which mort
gage may be re corded in the Office of tho
Register Of MIesne Conveyance in the
County of Richland, in this State, and
thereupon. and thereafter, it shall be-
come and be lien upon all the proper
ty. rights, privileges and franchises, or
of any interest therein. and of any part
thereof, described in said mortgage.
SEQ. 8. Any person who shall wilfully
and mallclously lnjure, modest or destroy
and OF said lines. posts, piers or abut-
ments, or the materials or property be-
longing thereto, shall, on conviction
INn nSoJa
ceeding five hundred dollars, or i1npri.
son ment in the penitentiary at hard labor
not exceeding one year, or both, in the
discretion of the court before which the
conviction shall be had, and, in addition
thereto, shall pay such damages as shall
be caused by him or her, to be recovered
in civil action by said corporation.
SEC. 10. The Board of Directors, as
often as the interests of the corporation
shall require, are hereby Authorized to,
and shall, fix the rate or rates for trans
mission or delivery of any message or
messages, which may be required to be
paid in advance
Sec. II. Any person connected with
such telegraph company, either as ope-
rator, messenger, agent. servant or clerk.
or in any other capacity. who shsll, will
fully aud malicious!y, disclose, divnlge
or communicate, or permit the sumo to
be done, the contents, or the nature OF
the contents, Of any private message or
communication entrusted to or left with
him, or her, or such corporation. for
transmission or delivery. other than to
the party or parties entitled thereto, or
who shall wilfnlly refuse or neglect to
transmit or deliver the same, he or she
shall, on conviction before any court, be
adjudged guilty of misdemeanor, and
shall suffer imprisonment in the County
Jail or work house where such conviction
shall be had, for term not more than
three months. or shall pny a fine not to
exceed five hundred dollars, or both, in
the discretion of the court
Sec. 12. All Acts, or parts Of Acts.
contrnry to or inconsistent with this Act
are. for the purposes Of this Ac', but ftr
no other purpose, hereby repealed
SEC. 13. This Act shall take effect
Immediately.
Approved the 7th day of March. A.
D. 1871.
JOINT RESOLUTION AUTHORIZING THE STATE
TREASURER TO REISSUE STOCK OF THE
STATE OF SOUTH CAROLINA
BE HreSoioeti by the Senate and House
OF Representatives of the State OF South