The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-06-10

be penal offence for the londlord, agent
or tenant, to remove the same
Strike out, from section 147, all after
'l47, aud insert the pay. of assessors
shall in no instance be more than threo
dollars per day for each day actually and
necessarily employed in the performance
of the duties epjoined upon then in
this act
SEC. 2. All acts or parts Of acts in
consistent with tais &C, are LsrAby re-
r.alsa. af
SEC. 3. This act shall taks effect on
aud after the tax levy shall be made for
the fiscal year of 1871.
Approved March 8, 1871.
In +4ct to Amend and Ericad Tie Char
Ter of the Planters and Mechanics
Bank Of .Sonh Carolina, .am far
OMc,' pn,poses Therein Named
Whereas the capital of the planters
and mechanics bank Of South Carolina
has been reduced, BY losses, from one
million OF dollars to one hundred thou.
sand dollars, whereby the shares, origi-
nally worth twenty five dollars each, are
at the present time, worth in reality,
but two dollars and fifty cents each; and
the President aud directors of the said
bank have petitiancd for leave to con-
soidute their said shares at thai rate, SO
as 70 bring them up to their original
par value:
SECTION /. Belt enacted by the Sea-
ate and House Of Representative of the
State of South Carolina, now met aud
sitting in General Assembly, and by the
authority of the same, That the board of
directors of the said bank be, and they
are hereby, authorized to consolidate the
shares of the.,said bank, by calling in
their said shares, and issuing one share
of the par value of twenty-five dollars
for every ten of their present shares, so
that the number of shares shall be re-
duccd from forty thousand to four thou
sand: Provided, however, That the said
bank shall, at the request of stockhol-
dcrs now holding less than ten shares,
redeem the said shares at the rate of two
dollars and fifty cents per share.
SEC. /. That the board of directors,
before reducing and consolidating the
said shares, shall give at least thirty
days public notice, in one or more of the
newspapers of the city of Charleston, of
their intention so to consolidate, reduce
and redeem the stock of the said bank
and, from and after the day fixed and so
publickly notified fer the said consol-
dation, reduction and redemption of the
said shares, no one shall be considered
or held to be stockhollcr of the said
bank who has not received n new ccrti-
ficatc for tie consolidated shares at TWEEN.
ty five dollars per share: Provided, al.
ways, That the holder Of any number of
original shares under ten shall be at
liberty to sell and assign the same to
whomsoevcr he may choose, by endorse
mcnt upon the certificate held by him,
which endorsement SHALL without trans
Ter at the bank, cntitlc the assignee to
demand the redemption of the said
shares or the consolidation Of them,
whenever he has acquired or holds ten
or more shares, at the price or rate as in
the first section of this act provided.
SEC. g. The said board Of directors are
hereby further authorized and empower
cd, from time to time, to incrca the
number of shares aud the capital Of the
said bank at any time after thirty days
notice of their intention so to do, pub
lishcd in one or more OF Uhe newspapers
of the city of Charleston, to a number
not exceeding III tho whole twenty thou
sand shares, eauh share to be of the par
value of twenty-five dollars, and to open
books Of subscriptions for such addition,
al shares, under such regulations as they
shall prescribe: Provided, always, That
the stockholders shall have preference
in subscription to the Increased stock, /,
in proportion to the am, unit then held
by them.
SEC. 4 The said bank is hereby fur
ther authorized to receive deposits, in
such sums, and at such times, as, tho
toara OF directors may state, by public