The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-06-26

eNccntc and deliver to him full re.
lease and discharge for all liability to
this State by reason of any matter or
thing done in ,he:coursc Of such Fl.
nanciaI Agency. Tie saTc Financial
Board shall render j statement Of the
settlrmcnt with the Financial Agc',
cy to the Comptroller General Of the
State thirty days prior to the meet
ing OF The next General Assembly
Sec. 2. That this Act shall take
effect Immediately.
App,ovd l3, 1872.
AN act to Incorporate tho South
Carolina Real Estate, Planting and
Mining Company. -.
Section /. Be it eracted Dy the
Senate and House of Representatives
Of the S,cte oT South Carolina. now
met and sitting in General Assembly
and by the authority Of the same,
That r. F, Graham, Edwar Reid,
George Kline, II. +. lIayic, B. F.
Briggs, SSA. Swails. ". a. Grant, W.
B. Mask, Edward Mickey, OR Levy,
VIM Elliott, J. A. Bowlcy, Barney
Humphreys, Jordan Lang, c. g. b.
wen, Timothy Hurley, T. A. Davis
n. B Myers, J B. Bascono, S. Greene
J. S Mobley, and their associates
Successors and assigns, arc hereby
created body polite and corporate
under tho name and style Of the
"South Caroline Real Estate, Plant.
ing and Mining Company" for the
purpose OF securing foreign and do.
mcs,ic capital in the purchase and
improvement Of lands and other pro,
pcrty, and Tor tho working Of the
same, and for selling and settling the
same: Provided, however, That the
said corporation shall be organized
and go into operation within two
years from tn, passage of this Act.
Sec. 2. And be it further provided,
That the capital stock Of said corpo-
ration shall be one million of dollars.
Isl 100000, in shares of one hun.
drcd, (sl00,) each, with tho privilege
of increasing the same, from umc to
time, to the extent necessary for
which said company is formed, said
increase not to exceed the sum OF
five million Of dollars, ($5,o00,00e,
said Increase to be mado only at ::
regular meeting Of the said company,
upon vote of Two thirds in Amount
Of tho stock for the time being in ia
vor of such increase.
Sec. 3. That the SAID shares shall
be deemed personal property, and
shall be transferable only on the
books of tho company.
Sec. 4. That tho. said corporation
shall have pow or to purchase, acquire,
hold, Use, work and dispose OF real
estate in any Of the Counties of this
State, to work and operate farms and
within the State, and to
dispose, generally, Of the products OF
the same. ..
Sec. S That tho ssid corporation
shall also have power to make al BY
laws necessary for the disposition Of
its property. and for the management
Of its affairs, for the regulation of the
term Of Office Of its officers, and pre-.
<cribing their duties, ard to carry out
the general objects of tho corporation
and the same ut pleasure to annul
and repeal Provided, That such by,
laws, rules and regulations shall not
conflict with any laws of the United
States or of the State Of South Caro-.
lima.
Sec. 6. That tho said corporation
shall have power 10 borrow
money by issuing interest bearing
bonds, secured by mortgage Of its
prop rty and franchises, or Of any
portion of tho same; and, for this
may Issue bonds for sterling,
gold coin or currency. payable in Lon
don, New York or Charleston, sccur-
ed by mortgage, to trustees tor the
payment Of the said bonds; and, also
may purchase land, for cash or for
bond, sccnrcd by mortgage, or part
Iy for cash, and partly Tor bonds and
mortgages: NJ Provided, That the stock
hol;'crs Of tic said corporation shall
be liable TO the amount of their res
pcctivc share Or shares Of stock in
said corporation for all its debts and
liabilities upon note, bill or otherwise,
The books and accounts Of said cor
poration shall be open to inspection,
under such regulations as may be
prescribed by law.
Sec. Z. That the said corporation
shall have tho power to establish
agencies. at such place in Europe and
America as it nay deem desirable for
tho carrying out lis Objects; and
may. also, hold and purchase the
stocks or bonds of any joint stock Or
incorporated cempan es, and the
bonds Of private indiv dua's
Sec. 8. That within the time pre-.
scribed for the going into. operation
of this Act, n meeting of tho said
company shall be he'd. at which
meeting fifteen Directors shall Ee
elected by the said corporation, which
said Directors shall elect from thei,
own number President aud Treas
urcr; and they shall also elect such
other officers and agents as they may
deem necessary 70 ctfecting the OBJ
jcct Of the said corporation; and, an.
nnally after, the said meeting, the
said stockholders shall elect twelve
Directors.
Sec. 8. The said corporation shall
have succession of officers, power to