The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-06-19

}, 1917.
style and title of the Charleston Loan
and Exchange Company.
SEC. 2. The capital stock Of the
said company shall be one hundred
thousand dollars, to be divided into
shares of one hundred dollars each,
and shall be raised in the following
manner: The following persons are
hereby appointed Commissioners 40.
receive subscriptions to the capital
stock, to wit: T. Fl. Williams, Il.
Biscboff, VIM. Gurney, J. A. Bowley,
J.. B. Dennis, c. J. Lamb, W II. Gard
nor, Jr., S. A. Swails and Fl. .Runk-
le. The said Commissioners, or a
majority Of them, shall open bucks, at
such places in Charleston 10 they
shall appoint, within sixty days from
the passage Of this Act, and receive
subscriptions to the said stock: Pro.
vided, The said Commissioners shall
have given at least three days notice
in two daily papers in the city of
Charleston, of the time and place Of
receiving the subscriptions, ard shall
require a payment OF twenty-five dol
lars on each share, to be made at the
time OF subscription therefor: And
provided further, That the Beard of
Directors shall have power, in like
! manner, at such time as they shall see
fit, to increase the said capital to the
sum Of Ave hundred shousand dol
lars.
Sec. 3. That if, after sixty days
from the time of opening the books
for subscription, ono-ten.h Of the cap
ital stock be subscribed for. then the
shares to that extent be. divided pro
rata among tho stockholders, and the
company empowered to commence
business.
SEQ. 4. That the said company,
under its name, shall have succession
of officers and members, and all the
powers, privileges aud franchises Incl.
dent to y corporation, and shall be
capable of taking, holding and dispo.
sing Of their capital stock, according
to such rules and regulations as they
shall, from time to time, establish
and, also, of taking, holding and dis
posing of, or investing the increase
profits or emoluments of their said
capital stock and shall have full pow
er aDd authority to have and use a
common SEAL and the same to alter
and renew at their pleasure; and, by
the name and title al Aforesaid, shall b.
able and capable, at law and in equity,
to sue and be sued, to plead and be
impleaded, answer and be answered
unto. in all manner Of suits, pleas,
demands and judicial proceedings
whatever; and they are further EN-.
powered to appoint President, Board
of Directors, and such other officers
as they may deem sxpedient, for the
proper protection and transaction OF
their business
Sec. S. That tho said company is
hereby authorized and empowered to
make contracts, and to make loans Of
money, upon security of real estate,
personal property and chooses in
action TO barter in all kinds, Of mer,
charitable articles, to give and to, hold
in exchange, upon such rates of inter.
est as muy be agreed upon between
the persons or parties borrowing, and
exchange ut rate agreed upon BY
the Board Of Directors.
Sec. 6 Thut the said company shall
: have right and p wer to acquire, prr.
chase, take und hold, in its corporate
name, lands and real estate. and the
same to demise, grant, sell, assign,
exchange and convey, IN fee simple or
otherwise, and that tho sum Of three
hundred dollars be yeurl y returnble
to the State, out Of tho not income
der vod by the company, and that
this Act remain of force for the. term
Of twenty years.
Approved March 13, 1872.
! AN ACT to Incorporate the Edisto,
t'aw Cav and Waitcs' Creek Canal
Company, of South Carolina.
SECTION |. Be it enacted by tho
Senate and House of Representatives
Of the State of South Carolina, now
met and sitting in General Assem-.
bly,. and by authority of the same:
That Richard II. Cain, Timothy
Hurlry, John D. Wcatherly, David
Kicker, John C. Downing, B. A.. Bose.
man, A. J Ransier, W. NJ. Thomas, A.
P. Holmes, George F. Mcintyre, L
} Maddocxs, S. Small, +. D. uoImes,
Robert TarlLon, George Lee, B. Byas,
P. P. Hedges, VIM. R. Jervey, and
such other persons us they may as
socjate with them, their successors
and assigns. be, aud they are hereby,
constituted body polite and corpo-
rate, by the name and style of the
Euisto, Cav Cav and Waites' Creek
Canal Company. And they are hero
by made corporate in law, to have,
hold, purchase and possess the lands,
and to make sale Of the same, or any
; property acquired by them, as o conf
pany, to carry ON the lumber, wood
business, dig phosphates that may be
on their lands, to ercct houses, mills,
machine shops. manufactures, dig
out and clean away any obstrgctions
which may be necessary in order to
complete navigable water course
from the Edisto River to the Ashley
F River in this State, conveying water,
: lumber, wood, barges, RATS, boats, or
+ any craft that may be necessary to
carry out the designs of said compa'
ny. They may also convey fresh
water to the city Of Charleston, by
such means US they may deem best,
land ut aInh Tina ~ shall deem most