The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-04-22
LAWS OF III STITE.
Acts and Joint Resolutions. Passed by
the General Assembly of South Caro-
Has, Session Of 1s7O-'7l.
20 FF1c1A

Az ACT to charter the South Carolina Phos-
.phate and Phosphate River Mining Com:
pany, in the State OF South Carolina, and to
grant to the persons therein named, and
their associates, the right to dis and mme
in the beds of the navigable streams and
waters Of the State of South Cufolins for
phosphate rocks and phosphate deposits.
Ssci1ey 1. Be il enacted by the Senate and
House of Representatives of the State OF South
Carolina, now met aad sitting in General As
ssmbly, and by the authority of the same:
That the State Of South Carolina does here.
by give and grant to the following peEsons, to.
wit: r. B. Elliott, Robert Smslls, ". J. Whip
per, N. B. Meyers, Lucius Winbush, W. b.
Nash, s.. A. swails, q. J. Maxwell, James NJ.
Allen, W. q. Jones, B. A. Bosemon, B. Byas'
Edward Mickey, E. Neherniss,. ". R. Jervey,
J. N. Hayne, Timothy Hurley, Arson W..
Theyer, John B. Bates, J.. q. Ma3o, James NJ.
Crotut, F. ]. Moses, Jr., Al. Ransier, {. W.
Montgomery, B. F. Whitteuore and 3. A. Sig
son, and sueh other persons as they may asso-
ciate with them, the right to dig, mise and
remove, for the full term OF thirty years, from
tHesbeds oY the nayieable streams and waters
". thin.the Jurisdiction Of the s,sre OF South
Carolina, the phosphate rocks and phosphate!
deposits: Provided, Tint the persons named,
and their ASSOCIATES, shall not in any way in
terfere with tho free navigation OF tue, naviga-
BILE streams and waters of this State, or the
private rights OF any citizen or citizeos resid.
ing upon or owning the lands upon'the banks
of the said naYigable rivers and wste.s OF the
State:
SEC. Q. That this gift and grant is made
uoou the express condition that said grantees
shall pay to the State OF South Carolina the
sum Of one ~ dollar per ton for every too OF
phosphate rock and phosphate deposits, dug,
mined and removed from the said navTgable
rivers and waters Of the State And further,
that the said grantees shall psy. into the treas
ury OF the State the gum Of i've bundred dol
lars as q license fee before commencing eusi-
ness under said grant.
SEC. 8. Before commencing operations under
authority Of this, act, said grantees and their
ass ociates shall file, or cause to be filed. in the
Office of the State Auditor, a bsnd in thspenal
sum of fifty thousand t$5O.oOO) dollars, condi-
toned that said grantees and their as.o:iate 9
shall max. true and faithful returns to said
State auditor, annually, on or before tae hrst
day of October, aud oftencr if required by the
said State auditor, Of the number OF tons Of
phosphate rocks and phosphate deposits dug
mined and removed by them from the beds 81
the navigable streams and waters of the State,
and shall punctrally pay to the Slate treasurer
annually, on'the first day Of October, one Hl)
dollar rer ton for every ton ofphosphatic ROCKS
| and phosphate deposits by them dug, mined
| aud removed from the beds Of the navi2 able
| streams aud waters of the State during the
wear preceding: said bond to.be renewed an
nualIy, and approved by the attorney-Seneral'
TIE books of said grantees and their associates
shall be open to the inspection of the State
auditor, or agent duly appointed BY him Tor
thnt purpose.
SEC. 4 That the capital stock OF said COM
pany shall consist Of two million C2.oCO .oOo)
dollars. to be divide 1 into shares OF one hull
dred dollars each, with the privilege OF lpcreas-
ing the sarae to an amount not exceeding tive
million dollars; and when tue sum OF three
hundred thousand dollars shall have eeen SUBJ
scr,bed- the said company mly be organized
and 20 into operation.
SEC. &. That the profits OF said company
nav from time to ,ims, bs divided among the
stockholders aecordinet to such rules and regu'
Iations as they may prescribe not repusnant
to the laws ofthe State.