The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-04-24
VOLUME XX---NOs

as ADOVe Slateu, auuS: ~ hAki scuonS4AASnot1 "
meetings., II, shalisibe lawful for any
tstockhoider to be representa- by proxy,,d
whose appointment shall be in swritiDgyqs
signed by such stock holder; but aperRuaS
'notya atoekholdert shall ah0t represent
such proxy. A. majority f0fa aswo-thtrdas1
of the stockholders present. Jorrepre ih
+ed by proxy, are empowered To tfaussoh
any and oil business connected ;Tfththe 20
company. Atthe first meeting pf Htock-taa
holders. and annually there's at such
the tie by-laass thsS shsii Es eisete Sy 6xilot,
to serve one year, and until another
election, "a President and ten; DiEect9ss
No person shall be elected "a PEesidelA
or Director who ais not the owner tot0sE
twenty shares; which Inust have bsen'a.
ton; but this does not apply to the first
election herein provided for; IN the,
election of President and Directors, IN,
the establishment Of tie bylaws, ana 10.
other acts toibe doneGby the stockfIUlders, at
+in their: corporate capacity each AtoDkr 81
holder shall be, entitled, To- one vote for .,
every paid Up share Of the. stock sub
'scribtd by hiu3. - = 80, -
: SEC. 4 THAT, for the purpose sof acy {
+quiring such lands, orright Of way ass
they may require fox the locatip iapk,a
construction Of the said railroad with hoa
such depots 20, warehouses, m ssasi2aRss saSsis2'aRssoI
ments, or for extending or altering the
same, the said company shall Lhave everyln
right, privileges tand power heretoforeds
granted to, and which now Is or has been
used or enjoyed by, any railroad compa. -
ny heretofore incorporated in. either or
the States aforesaid !; and shall; also; SB6eo
entitled to the use and cbenefitiof aevefytS
process and proceeding provided by lawas
for enabling railroad companies, in ell.
ther Of the States aforesaid, to obtain
such lands, or rights. Of way, as they, :,
require, in cases In which the consent OF
the owners cannot be- obtained. Andst
exclusive right of transportation on their
railroad which is possessed and enjoyed
by any other railroad IN either Of the :
aforementioned States. And persons 10
trespassing, intruding, or wilfully adesTG
'stroying anyof tile property Of the.said,s'
company, !! shall. be liable, to all penabo4
ties to which persons yAfnllg dest,pY7aa
ing, damaging, sor 1obstr citing any;
other ! railroads, or paris or PARCELS
thereof are made liable by any laYdk
in either Of the States aforesaid And sd
the said company shall ,hsys the saWesf
presumptiyetl right and title, fsad. I t0Ii
the. same extent TO lands thfo1ghssl
which their railroad may be bpilt,b jpqwo
absence of any ;agreement,lfwith the 10,
proprietor or ,proprietors, Of such
lands which is possessed. pr, enjoyed dag
by anyyother railroad, in the States ID
mentioned above, as to, the lands :.
through which their railroad may n
have been, or may be, constructed, y,
in absence Of any contract with the ii
owners thereof. I'd ..4l..f ,ffiyL ,.ge si,,ev
SECS. That it shall be lawful for
the said company to increase their Fifft
capital stock to any amount not ex-t
eeeding; two million dollars ($2, ,000,-,. !.
'000) BY receiving, subscriptions for r
additional shares, ion such arms and
conditions as they may think properad
to prescribe; and also to borrow mon:
ey for the purposes aforesaid, on s1ch
terms, and at such rates Of interest
as they may think proper. &; 81,
SEC. 9. Subscriptions to the stock
of said company shall be payable by !
|instaIlments Of Eve dollars ($5) on ;,
each share, after paying first install;
ment as aforesaid, Eand ST intervals Of
not less than ninety days, under such
regulations as may be prescribed by
tho bylaws. Public notice Of the
time and place Of payment Of each
installment shalf be given at least
twenty days beforehand; and; in case
any instaIlment or any! share remain,
unpaid for the space of thirty days
after the time of payment. thereof, o.
the share shall be forfeited and vested
in the said company, and the default
ing stockholder released from all OBJ a1
legations to pay the amount unpaid
on the forfeited share. The shares Of iT
the capital stock of said company
shall be personal property, and shalt ;.
be assignable and transferable, in such
manner, and underfsuch regulations
as may be prescribed by the by-laws.pf
SEC. 10. The President and iDirec- ri
tors of the company shall have, ;au..;.:
thority TO execute all the powers
hereby granted to said company
subject to such limitations and re-u
strictions as may be imposed; by the ii
bylaws. There must be an annual
meeting of the stockholders, at such
time as may be appointed by the by
laws, at which the President and Di. d
rectors shall make report, in writinGaf
Of the affairs and condition. of. theI
company, which report shall be pub-
lished in newspaper Of each Of the
States aforesaid. Other meetings may
be called by the President or Direct.
ors, when they deem it. expedient, ::
and, also, when twenty stockholders,
representing three hundred shares,
shall demand the same in writing.
The corporators, herein appointed,
shall give a written account OF all
funds received by them, and Of the
disposition of the same, at the first
meeting after the ratification of this
Act. II shall be lawful for the stock.
holders, at any meeting, to remove
the President and Directors, or anyo ,
them, from office, and elect, others in
their stead. The President and sDi-,
rectors shall have authority to draw
out the money deposited in bank, BY
the corporators, for subscription to
the stock of the company:i' Provided
That the same is only used for the
interest of said company. ...~ a...
Sec. II. This Act shall be in force
for the term of forty years from the
ratification thereof, and shall be Deem
ed, and hereby declared, o public
Act: Provided, That the work, for