The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-03-23

T SEC. 8. The said board Of directors are hereby
further authorized and empowered, from time
to time, to increase the number of shares and
the capital of the said bank at any time after
thirty days notice of their intention 30 to do,
published in one or more Of the newspapers OF
the City of Charleston, to number not ex-
ceeding in the whole twenty thousand shares,
each share to be of the par value of twenty
five dollars, and to open books Of subscriptions
for such additional shares, undef such regula-
tions as they shall prescribe: Provided, al
,odys, That the stockholders shall have prefer
ence in subscription to the increased stock, In
proportion to the amount then held by them
SEC 4. The said bank is hereby further
authorized to receive deposits, In such sums
and at such times as the board 1T directors
may state, by public advertisement, and pay
the same with stipulated rateot interest upon
them, at stated periods, the interest TO be paid
In money, or to be placed at the credit Of said
depositors, upon the same terms and condi-
tions as the original deposits.
SEC. S. The present charter of the bank is
hereby altered and amended, as In the pre-
vious sections Of this act is provided, and In
all other respects the said charter is hereby
confirmed as II those provisions had been origi-
nally incorporated in the said charter, and the
said charter is also extended for a period Of
twenty.one years beyond Its present termlna-
ton.
Sec. 6. That all other powers herein confer
red upon the board Of directors of the Planters
and Mechanics Bank be, and the same are
hereby, conferred upon the board of directors
of the bank known as the Union Bank of South
Carolina, which charter is also hereby amend
ed and extended in the same manner, and that
they shall have the same powers as are herein
conferred.
Sec. 7. That the charter Of the Peoples
Bank of South Carolina be, and the same is
hereby, renewed for the term Of twenty-one
years from and afterthe sixteenth day OF De-
cember, which shall be In the year of our
Lord 1873.
SEC. 8. That the said bank, during said term
of twenty-one years, shall enjoy all the privi-
1eges, rights, powers, immunities and benefits
which It now enjoys under existing charter OF
said bank.
SEC. 9. That this act shall be deemed pub
lie act.
SEC. 10. That this act shall not De construed
to exempt any of the banks named from State
or municipal taxation.
Approved March the 9th, a. D. 1871.
An ACT to establish the Charleston Charitable
Association, of the State Of South Carolina,
for the benefit q the Free School Fund.
SECTION l. Be it enacted by the Senate and
House Of Representatives Of the State OF South
Carolina, now met and sitting In General AS
sembly, and by the authority OF the same
That R. q. willoughby, r. b. Frost, j. P.
Horbach, M. J. HTrsch' and Oscar B. Little, Of
South Carolina, and their associates or part
ners, shall have the fun right, and are hereby
authorized, to form themselves into partner
ship association, to be known under the name
and style of R. H. willoughby and Company, or
such other name as they may now or hereafter
assume.
SEC. 9. That all the rights Of corporations
known as banks be, and the same is hereby,
vested in the said firm, for the purpose OF
loanlng out, money on Interest, purchasing
and mortgaging real estate, buying personal
property, and they shall have the same rights
and privileges now enjoyed by the banking In
stitutions of.ths State; they shall also have
the right to dispose of any and all such prop
erty, real, personal or mixed, that they may
become possessed OF, in any manner, and on
such conditions, as the said firm or association
may deem fit and proper, and to the adva1-
tage OF said tirm, and to promote the Interest
of the said school fund Of the State Of South
Carolina.
SEC. 8. Be it further enacted, That, before
commencing business under the provisions OF
this act, said firm shall pay, or cause to be
paid, into the hands Of the State superinten-
dent of education the sum of one thousand
dollars, ts1ooO,) to be used for the benefit OF
the free schools of South Carolina, and annu'
ally thereafter like amount, for the term Of
ten years, or so long as said partnership shall
choose to do business, 1t being understood
and agreed that said payment Of one thousand
dollars per annum by said association is the
consideration upon WHICH the privilege OF In
corporation herein is granted, and whenever
said company or firm or association shall fall
to pay said consideration. then their right to
do business shall cease.
SEC. 4. That the association, company or
firm incorporated and established by this act
shall have full power and are hereby author
lied to establish agencies throughout the
State.
SEC. S. That this act shall be Of force imme-
dlately on and after its passage.
Approved the 9th day of March, a. D. 1871.
An ACT to provide for the protection of per'
sons, property and the public peace.
Whereas, threatenings, intimidation and
violence are used in portions of the State
against the peace OF the same; and, whereas
the laws are get at defiance and the officers O.
the law hIndered. prevented end obstructed II
the discharge Of their duties; and, whereas
| armed, disguised and lawless persons are
threatening, maltreating and assassinatinG
peaceable and defenceless citizens; therefore
SECTION l. Be it enacted by the Senate ant
House of Representatives OF the State OF soutf
Carolina, now met and sitting in General AS
sembly, and by the authority OF the same: