The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1872-05-22

authorized and directed to pay the
same, upon the order Of the said
Comptroller-General, ont of any
moneys in the Treasury not other
wise appropriated:
Approved, March IL, 1872.
AN ACT TO INCORPORATE THE SOUTH
CAROLINA REAL ESTATE, PLANT
ING AND MINING COMPANY.
SECTION l. Be it enacted by the
Senate and House of Representa-
tives, of the State of South Carroll
| ma, now met and sitting in Gene
ral Assembly, and by the authori-
ty of the same: s...,... ..,.., = =. 49,
That B. F. Graham, Edward
Reid, George Kline, NJ. E. Hayne,
B. F. Briggs, S. A. Swai!s, W. A.
Grant, W B. Nash, Edward Mic
key, o. R. Levy, William Elliott,
IA. Bowley, Barney Humphreys,
Jordan Lang, G.. G. Bowen, Timo-
thy Hurley, T. A. Davis, n. B.
Myers, ). B. Bascomb, S. Green, ].
S. Mobley, and their. associates,
successors and assigns, are hereby
created a body polite and corpo-
rate, under the name and style of
the "South Carolina Real Estate,
Planting and Mining Company, "
for the purpose Of securing foreign
and domestic capital in the pur-
chase and Improvement Of lands
and other property, and for the
working of the same, and for SELL
ing and settling the same .Provi-
ded, however, That the said corpo-
ration shall be organized and go
into operation within two years
from the passage Of this Act.
SEC. 2. And be 1t further provlded,
That the capital stock Of said cor
poration shall be one million of
dollars (s1,OO0.0O0,) IN shares of
one hundred dollars. (s1Oo) each,
with the privilege of increasing
the same, from time to time, to
the extent necessary for which
said company is formed, said. in
crease not to exceed the sum of
FIVE millions of dollars (s5, 900, ,000,)
and said increase to be made only
at regular meeting Of the said
company, upon a vote of two
thirds IN amount Of the stock for
the time being in favor of such in
crease
SEC. 3. That the. said shares
shall be deemed personal property,
and shall be transferable only on
the books Of the company.
Sec. 4. That the said corpora.
tion shall have power to purchase,
acquire, hold, use, work and dis
pose of real estate. in any Of the
Counties Of this State, to work
and operate mines, to work and
operate farms and plantations
within the State, and to dispose,
generally, of the products of the
same.
Sec. 5. That the said corpora
tiea-shaH also have power to make
all bylaws necessary for the dis
position Of it's property, and for
the managements Of it's affairs, fer
the regulation Of the term of office
of its officers, and prescribing their
duties, and to carry out the gene
raj objects Of the corporation, and
the same al 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 Carolina.
SEC. 6. That said corporation
shall have power to borrow money
by issuing interest bearing bonds,
secured by mortgage of Its proper
ty and franchises, or Of any por-
tion Of Che same; and, for this
purpose, may issue bonds for ster-
ling, gold coin or currency, paya-
bic in London, New York or
Charleston, secured by mortgage
to trustees for the payment Of the
said bonds; and, also, may pur-
chase land for cash or for bond,
secured by mortgage, or partly for
cash, and partly for bonds and
mortgages. Provided, That the
stockholders. of said corporation
shall be Liable to the amount of
their respective share or shares of
stock in said corporation for its
debts and liabilities upon note, bill,
or otherwise. The books and &C
counts of said corporation shall be
open to inspection under such regu-
1ations as may be prescribed by
law.
Sec. Z. That said corporation
shall have the power to establish
! ,,or,;ao Of eunh ,,iaoa in Errono