Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-06-15
AN ACT to Incorporate The Camden
Steam Mig Company.

AN ACT to Incorporate The Camden
Steam Mi1 Company.
SECTION l. Be it enacted by the
Senate and House of Representatives
of the State of South Carolina, now
met and sitting in General Assembly,
and by the authority Of the same,
Colin Macrae, A. J. Freitag and Wal
ter F. Reed, and their associates and
successors, are hereby constituted a
body polite and corporate, by the
name of the Camden Steam Mill
Company, with power to sue and be
impleaded i'll all the Courts of law
and equity; may enjoy all the priv,
leges incident to corporations, and
may purchase, hold and convey real
and personal estate to an amount not
exceeding twenty-five thousand dol
lars.
Sec. 2. The business Of said COM
pany shall be grinding grain, ginning
cotton, hulling and pressing cotton
seed, or any other similar mechanics or
industrial pursuit they may choose to
embark in, in the town of ofCamdn, South
Carolina. The books for subscription
to the capital stock of said company
shall be opened by the above named
persons, in Camden, as soon as conve-
nient after the granting of this char
ter, in shares Of twenty-five dollars
each. Said corporation may have
and use common seal, which they
may alter at pleasure.
Sec. 8. The shares shall : deemed
personal prope.y,, Je transferred
only on the books of said company,
in such forms as the Director may
prescribe. The said company shall,
at all times, have lien on all the
stock or property of the members of
said corporation invested therein, for
all debts due from them to said cor
ooration, and no transfer of scrip or
stock shall be valid until such debt,
if any. shall be discharged; and said
corporation may organize, go into op-
Grafton and commence business when
ever and as soon as FIVE thousand
dollars to said stock shall be subscrib-
ed for, and five dollars per share of
the same paid into the Treasury Of
said company in cash; and a eertih-
cate, signed by the President and
Secretary of said company under
oath. setting forth said subscription
and payment, shall be filed in the
Office of the Secretary of State.
SEC. 4. The stock, property and
affairs of said corporation shall be man
aged by a Board Of Directors, not less
than three nor more than FIVE, one of
whom shall be chosen by them Presi-
dent, and all of whom shall hold their
Offices for one year, and until others
are chosen, and said Directors shall
be annually elected at such times and
places as the bylaws of said corpora.
ton shall prescribe; a majority of
said Directors shall, in all cases, con-
stitute a Board for the transaction Of
business and majority of the stock
holders at any legal meeting shall be
capable of tranacting the business of
said meeting, each share emitting the
owner thereof to one vote, which may
be given in person or. lawful proxy.
The first meeting of said corporation,
hereby formed, may be called BY
majority of the persons named ;inithe'
first Section of this Act, at such time
and place, and upon giving such no.
tice thereof, as they shall deem rea-
sonabfe and proper.
SEC. 5. The President and Direc-
tors.I or a majority of them, for the
time being, shall have power to fill
any vacancy which may happen, by
death, resignation Or otherwise, for the
current year, or appoint Secretary
and Treasurer, and such other officers
as may be necessary, and may require
the Treasurer and other officers to
give bonds brl the faithful discharge
Of their trust and daty, as q saia is Direc-
tors mey y q deem proper ri isy and als9, to
make And establish SUCH by.laEs, /,
rules and: Regulations .asSthey shall
ideena expedieny for the manage cement
'iI ri y % sLt to,fl