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

H. sPassedi by the. General IS.
Ill sembIy or South Carolina,
Regular Session, 1871 and
go. 1872. ..<.... ."
O. ,tae.. < 3. - .. -.
An ACT TO INCORPORATE THE eds.
- TO. CAV cAw AND wAITEs' CREEK
- CANAL COMPANY, oF SOUTH CARO-.
=. LIMA. -..: <. { .r.: .-..
SECTION I. Be it enacted by the
Senate and House Of Represents.
tives Of the State Of South Carroll
na, now met>and sitting ia Gene
raj assembly, and by the authori-
ty Of the same:
That Richard q. Caiuy Timothy
Hurley, John D. Weatherly, Da-
vid Kicker, John c. Downing, B.
A. Bosemon, A. J. Ransier, w. n.
Rhamgs,A A,P. Holiness GeorgesF.
AseIntyEe, s&L A Maddocks, S.
Small, E. D. Holmes, Robt. Tarl-
ton,'Gcorge@L Lee b. Byas, 2. P.
Hedges, Wn.. r. Jervey, and such
other persons as they may sasso-
ciate with them. their uccessors
and assigns, be and they areshere-
81 constituted q body corporate
and,poEtic, blythe name and style
ofthe Edisto, Cav Cav and Waites'
Greek Canal Company. And they
are hereby made corporate in. law,
teshaYe, hold Purchase and pos
sess lands, and to make sale of the
same, or any property acquired by
them, as o company, to carry on
the lambeg wood { business, dig
phosphates thatSmaySbe on their
ands, to erect houses, mills, ma
.hine shops, manufactures, dig
out and clean away any obstruc-
lions which may be necessary in
order, to complete a navigable wa
ter course from the Edisto River
to the Ashley River in this State,
conveying water, lumber, wood,
barges, rats, boats, or any craft
that may be necessary to carry
out the design Of said company.
They may also convey fresh water
to the city of Charleston BY such
means as they may deem best, and
at sacagtime as shall be most prae-
siea5ie, and shall have authority
to6impose. such a toll on vessels,
cats barges, boats and fats as
may Be deemed proper, for the use
ofsaid canal. &s2
SEC. 2. The capital stock. of this
company shall be I'VE hundred
thousand dollars, divided into
shares Of ten ($1O dollars each,
and shall organize whenten thous-
and dollars Shall be subscribed and
paid in, either in cash or lands,
machinery, :geodssor any material
which may be. deemed Of equal
value to said company, which may
bs.applied in its operations.
SEC. 3. There shall be held an.
nual meetings Of the stockholders
to elect President and Directors;
there shall be four Directors, who
shall hold tkeir Offices for one
year. ILL.,. .':.-
SEC. 4. Each share shall repre-
sent one vote in all elections for
oficers.. WE& = ->.::-@->: ~
SEC. 5. All transfer Of shares
shall be made in accordance with
bank rules for making transfers of
shares. The Directors shall make
ali needful bylaws for the govern
ment of the company, and alter
and amend the same at pleasure.
SEC. s. This company shall have
water eommanication from the
Edisto River through Bull Greek,
and the most direct route through
Cav Caw swamp, water lead to
Waites Creek two hundred feet
wide, and may appropriate any
lands on the said route necessary
to, forward this enterprise and fa-
cilitate quick transportation: Pro-
vided, That they shall pay a just
and reasonable compensation for
all land appropriated for said pur-
pose. *.
SEC. 2. That they, and their sue
cessors, shall fix and establish any
toll, and receive the same, on all
goods, merchandise, timber, lum-
Der, wood, boats, dats, RATS, or
any means of transit through said
canal, and any party refusing to
pay said toll, their goods may be
detained till said toll is paid.
SEC. 8. The said company have
anthority to issue coupon bonds,
bearing eight per cent. interest,
redeemable in ten and twenty
years, not exceeding one hundred
Thousand dollars.
SEC. 9. They shall have power
to commence work Immediately
on its formation, and may make
publication of the same, and keep
open their subscription books at
such time and place as they may
determine.
Sec. 10. That this Act shall be
deemed q public Act, ard shall re-
main in force for ffty years.
Approved March l3, 1872.
JOINT RESOLUTION I'd AUTHORIZE
AM n1pEcT TEE COMPTROLLER