The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-02-21
LAWS OF THE STATE.
aCrS OF THE GENERAL ASSEMBLY
OF SOUTH CAROLINA.
Published by Authority.

published by Authority.
AN ACT to incorporate the Carolina OIL Com
pany.
SECTION l. Be it enacted by the Senate ana
House of Representatives OF the State OF
south Carolina, now met and sitting IN Cen
leral Assembly. and by the authority OF the
same:
That VIM. McGuinnle, Edward Hope, Rob-
'ert C. SILVER, s. L. Leapheart, John AgneW
and their associates and successors, are hereby
made and created body polite and corporate
In law. under the name and style of the Caro-
INA OH Company, for the purpose Of extract
einp and manufacturing oil from cotton seed
and other seeds, or grain, and for the purpose
ofcarry on such other business as may Do
connected Herewith, with such capital as may
betsnbscribed, not exceeding fifty thousand
dollars, said capital to be divided into snares
of one hundred dollars each.
SEC. 2. The said company shall nave power,
from time to time, by stock vote OF not less
-two.th,rds of the amount of capital paid IN, to
increase their capital stock to any amount
not exceeding oRe hundred thousand dollars,
Including their present capital stock. Books
nsy be opened for the purpose of obtaining
additional subscribers to such increased
stock. in such manner as the company may
deem expedient; and whenever any increase
Of capitaI shall be made beyond fifty thousand
dollars, as aforesaid, the president Of the
company shall make affidavit Of the TACT, ana
file the same In the Office of the Secretary OF
State, and make public notice thereof once
xwesk- for three weeks consecutively IN
Newspaper In the City of Columbia, which
shall be legal notice to all persons dealing Wltn
said corporation.
SEC. 8. That if any certificate or public no.
lice given by the officers Of said company, In
pursuance of the provisions of this act, ID
false In any; material representations, all the
officers. who signed the same, knowing 1t to
be false, shall be jointly and severally liable
for all debts of the company contracted Wnlle
thew we're stockholders or officers thereon.
SEC. 4. The said company shall have sue
cessIon of officers and members, to be chosen
according to- the rules and bylaws made and
to be made for their government and dIec-
ton, and shall have power and authority to
make bylaws, not repugnant to the laws OF
the land, to make. have and use common
seal, and the same to alter at will, to sue and
be sued, plead and be impleaded, in any court
of this State, to purchase and hold any land,
tenemeDts or heredtaments, goods or chat
tels, which may be necessary, connected with
or conducive to the purposes for which said
company is established, and to sell or mort
gage the same.
SEC. s. The said corporation shall not 90 into
operation until twenty thousand dollars ofthe
capital stock ehall be paid in gold or silver,
or United States treasury notes, or notes Of
national banks,s The personal liability OF the
stockholders for the debts or lblities OF said
corporation shall be limited to the amount of
stock subscribed by them.
SEC. G.. This act shall be deemed public
aot and shall continue in force for twenty-one
years.
Approved February Is, 1872.