The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1872-05-09
LAWS OF THE STATE.
Acts and Resolutions Of the General
: Assembly of South Carolina.
Published by Authority.

AN ACT to incorporate the Carolina Vi
Company. =,
SEcrIoN /. Be it enacted by the Senate
and House of Representatives OF the STATE
of South Carolina now met and sitting II
General Assembly, and by the authority O.
the same:
That William McGuinnis, Edward Hope
Robert G.. SILVER, S. j.. Lcaphart, John Ag'
new and their associates and successors, are
hereby made and created body polite and
corporate, in law. under the name aud style
of The Carolina Oil Company. for the. pur-
pose of extracting and manufacturing OIL
from cotton seed and other seeds, or grain,
and for the purpose of carrying Gil such 9TH
or business as may be connected Herewith,
with such capital as may bc subscribed, not
exceeding fifty thousand dollars, said capl.
tai being divided into shares Of ono hundred
dollars each.
Sec. 2. The said company shall have pow
or, from time to time, by stock Tote OF not
less than two-thirds of the amount OF capital
paid in. to increase their capital. stock to any
amount not exceeding one hundred thousand
dollars, including their present capita. stock
Books may be opened for the purpose OF OBJ
tanning additional subscribers to such lncreas-
ed stock, in such manner as the company
may deem cxpcdient; and whenever any IN
crease Of capital shall be made beyond ttty
thousand dollars, as aforesaid the president
of the company shall make affidavit Of the
fact and file the same in the office of tho
Secretary of State, and. make ppelic notice
thereof once.a week for three consecutive
weeks in a newspaper in the city Of Columbia
which shall Oc legal notice to all parties deal
ing with said corporation. - ''''''
SEC. 3. That if any certificate or public
notice given by the officers of said company
in pursL Lance of the provisions of this act
is false in any neutrality-suspicious., all the
officers who 81 gned the same knowing it to
be false. shall be jointly and sevcrally liable
for all debts of the company contracted while
they were stockholders or officers thereof.
SEC. 4" The said company shall lave sue
cession of officer and members to be chosen
according to the rules and bye-laws, made
and to be made for rkeir government and d.
rection, and shall havepowcr and authority
to make bye-aws, not reEugnant to the laws
of the land to make, use and have common
seal. the same to alter at will. to sue and be
sued. to plead and be imp!caded in any court
of this State to purchase and hold any lands,
tcncments and hercditaments: goods or chat
ties, which may be necessary, connected with
or Conclusive to the purposes for which said
company was established, and to sell or mort
gage the same.
SEC. 5. The said corporation shall not go
into operation until twenty thousand dollars
of the capital stock shall be paid in In gold
or silver. or United States Treasury notes or
notes of national banks. The personal lii: :H'l-
tiles of the stock holders, for the debts or la
blities of the said corporation, shall be lin
itcd to the amount Of stock subscribed by
them. -.
SEC. 6. This act shall be deemed public
act and shall continue in force fer twcnty-one
years. .o,
Approved February 18th 1872.