The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-04-15

dollsrs; end when tha su4iof three kpnl
kdred thSnsand dollars shall have keen
eubspri6ed, the said{ CompanY maF; be
organized and 60 into opelation. 81
I: SEC. s. That the pfofitsa Of ssid Com,
pany may, from time to time, be divided
among the stockholders according to-
such rules and regulations as they may
prescribe, not repugnant to the laws OF
the State. itiaigf u
SEC. 6. That the stock of said Com
pany- may be transferred in such nianuer:
and form as may DE direotedsby the by.
laws OF the Company. --
SEdi5GThe3 sntd .Un1dpany ny-,shali= .ba
entitled to all the rights andrpsivileges
rated by the laws Of this State: Pro.
riled. That nothing in this ACT shall be
construed rs giving the said South
Caroline Phosphate and Phosphate
River Mining Company the exclusive
right to dig and mine: in the navigable
rivers and waters Of the State. :
SEC. =. all Acts OR parts of Acts tincoI-
sistent with this Aot are Hereby repealed.
Approved March 8. A. D. 1871.
AN ACT TO INCORPORATE THE CAMDEN
STEAM MILL COMPANY
Section L. BE 1t enacted by the Senate
and House of Representatives Of, the
State Of South Carolina, now met :ahd
sitting in General Assembly, and by the
| authority of the same That Colin Mao
| rae, Il. ). Ereitas and Walter F. Reed,
and their associates and SUCCESSORS, are
hereby constituted body polite md
corporate, by the name of the Camden
Steam Mill Company, with power to sue
aud be sued, to plead and bo impleadeds
n all the courts of law and equity, may
enjoy hll the privileges incident to cor
poratlons, and may purchase, hold and
convey real and personal estate to an
amount not exceeding twenty five thou
sand dollars.
SEC. 2. The business of said company
shall be, grinding grain. ginning cotton,
'llling aud pressing cotton seed, or any
other similar mechanical or industrial
pursuit they may choose TO embark in,
IN the town OF Camden, South Carolina
The books for subscriptions to the cnpi-
tnl stock Of said company shall be opened
by the above named persons, in Camden,
as soon Us convenient after the granting
OF this charter, in shares Of twenty-five
dollars cach. Sail corporation may
! have and use common scul, which they
/ may alter at pleasure.
Sec. 3. The shares shall be deemed
personal property, aud be transferred
only OIL the books Of said company, in
such form MS the directors may pre-.
scribe. The said company Shall, Mt all
times, have lien on I'LL the" stock, or
property of the members Of said corpo-
ration invested therein. Tor all debts due
from them to said corporation And no
transfer of scrip or stock shall be valid
until such debt. if any, shall tba. dis
charged; and said corporation may or
ganize, go into operation and commence
business whenever, and as soon as Ave
thousand dollars to snid stock shall be-
subscribed for, and five dollars per share
of the same paid into the treasury of
said company in cash, and certificate
signed by the President and Secretary
forth suid subscription and payment,
shall be filed in the office of the Secre-
tary of State. og if, |.
Sec. 4. The stock, property and affairs
Of said corporation shall be managed by
board of directors, not less than three,
nor more than five, one of whom shall
be chosen by them President, and all Of
whom shall hold their Offices for one
yenr. aud until others are chosen; and
said directors shall be annually elected,
at such times and places as the bylaws
OF said corporation shall prescribe. A
majority OF said directors shall, in all
cases, constitute board for the transao-
tion Of business, and minority Of the
stockholders. at any legal meeting, shall
be capable Of transacting 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 in the tilst section of
this Act. ut such time and plnce, and
upon giving such notice thereof. as they
shall deem reasonable and proper
SEC. 5. The President and Directors.
or o majority of them, for the timo
being, shall havo power to fill any yacan.
cy which may happen by death. resigna-
ton or otherwise, for the current year,
or appoint secretary and treasurer, and
such other officers as may be necessary,
and may require tho treasurer and other
officers to give bonds for the faithful
discharge Of their trust and duty, as said
directors may deem proper; and, also, to
mako and establish such by laws, rules
and regulations as they shall deem expe.
dient Tor The management of the affairs
~e Il 4 L l. n