The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-04-14
Too Lntc.

10 gentle words OF kindness turns,
And we are soourged with inward shame
To think our breasts haYe harbored hate,
And pride bows down-too late, too latei
Too late, too late. for public prayer,
The words OF worship have begun
Our checks al o flushed with Fastening there,
We enter as the chant is done,
And, pausing at the temple gate,
We stand and say, "Too late, Loo late!"
''Too late, too latel" who has not said
The post is out-tho train has gone
The time is fed-the debt not paid
The aid not sought-tho work not done;
Neglect makes up life's weary freight,
And then we cry, .Too late, too latel''
Acts and Joint Resolutions Passed by the
General Assembly Of South Carolina,
Regular Session, 1871 and 1879.
AN ACT TO INCORPORATE THE CITIZENS
BUILDING AND LOAN ASSOCIATION, OF
CHARLESTON.
SKoT1oN /. Be ii enacted by tie Senate
and House Of Representatives OF The State
of South Carolina, noU met and sitting in
General Assembly. and by the authority of
The same, That William B. Heriot, Hut
son Lee. b. 8. Rhett, Fl. L. P. McCor-
mick, William B. Steedman, William
Thayer, L. D. Mowry, T. A. WILDER and
Y. j. Thomas, together with such other
persons as now are, or hereafter may be.
associated with them, be, and they are
: hereby, declared body polite and cor
porate, for the purpose buying and
holding real estate in tue County of
Charleston, South Carolina, and making
loans OF money secured by mortgages Of
real estate and the hypothecation of
bonds stocks and other chooses, and per-
sonal property to its members and stock
holders, and others, by the name and
style Of the Citizens Building and Loan
Association, Of Charleston. The capital
stock of said Association to consist of
two thousand five hundred shares; but
as soon as one thousand shares are sub
soribed thereto, the sNid Association
shall organize and commence operations.
Said shares to be paid by successive
monthly insealments of one dollar on
each share, so long as the said Associa-
ton shall continue; the said shares to be
held, transferred, assigned and pledged,
and the holders thereof to be subject to
such fines, penalties and forfeitures for
default in their payments, as the regula-
tions and bylaws of the said Association
may prescribe.
SEQ. 2. That the said Association shall
have suoh number and succession of Of.
fcers and members as shall be ordained
and chosen according to the rules and
bylaws made or to be made by them,
for their government, and shall have
power and authority, from time to time,
and at all times, to make all such rules,
regulations and bylaws as are not re-
pugnant to the Constitution and the
laws OF the land; to have and keep
common seal, and the same to alter at
will to sue and be sued, implead and be
yp0nyoadoJ in
In this State, and shall have and enjoy
every right and privilege incident and
belonging to corporate bodies, according
to the laws of the land.
SEQ. 3. That the funds of the said AS
sociation shall be invested, either in the
purchase of real estate in the County of
Charleston, South Carolina, which shall
be rented out or leased, or sold and con-
veyed to the members and stockholders
OF said Association, upon such terms and
conditions and estates as from time to
time may be prescribed by its rules and
bylaws; or be loaned out and advanced
to the members and stockholders thereof,
upon the security and hypothecation Of
real estate in Charleston aforesaid, or
bonds, stocks or chooses in action, or per.
sonal property, on such terms and con-
dltlons as from timo to time NAV he pre-
scribed by the rules and bylaws aforo-
said. And it shall and may be lawful
for tho said Association to hold and en-
Joy, for the mutual benefit of it's nom.
bers and stockholders, all such lands.
tenements, hereditaments and appurtc-
nances as may be bona .Jfle purchased
by and conveyed to it, or as may be
mortgaged to it by way of security upon
its loans and advances, or as may be
bought by or transferred and conveyed
to it as sales under judgments or do
crees at law or equity for securing and
recovering, or in compromise settlement
OF any debt or debts due to it, aud to
sell, alien, barter, exchange, convey.
mortgage or otherwise dispose of the
same. from time to time, and whenever
deemed necessary and expedient. The
stockholders in this association shall be
severally liable for all debts and obliga-
t!ons created or contracted by the Asso-
citation, toan amount double the amount
OF their stock.
SEC. 4. That if any of the funds of tho
said Association shall remain unproduc-
tive or uninvested and uncalled for. for
the space of two months, by its own
members and stockholders. it shall be
lawful for said Association to lend out
trn& 4.