The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-04-10

"The purple light that, like sigh,
Comes from the violet'a bed,
As there the perfumes OF the East,
Had all their odors shed.
Snow comes storm cloud DER the sky,
Then all again sunshine;
Then clouds again. but bright beneath
The ralnbow's colored line."
Acts and Joint Resol utIons Passed by the
General Assembly OF South Carolina
Regular Session, 1871 and 1879.
AN ACT TO INCORPORATE THE SOUTH CARO-
LIMA REAL ESTATE, PLANTING AND MIN
ING COMPANY.
SECTION 1. BE i: enacted By The Senate
and House Of Representatives Of the State
General Assembly, and by The authority Of
Reid, George Kline, 81. z. Hayne, B. +.
Briggs, 8. A. Swails, W. A. Grant, W.
B. Nash, Edward Mickey, O. iR. Levy,
William Elliott. J. A. Bowley, Barney
Humphreys, Jordan Lang, O. G. Bowen,
Timothy Hurley, T. A. Davis, N. B..
Myers, j. B. Bascomb, S. Greene, j. s.
MObley, and their associates, successors
and assigns, are hereby created body
polltlc and corporate, 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 purchase and i'm
provement of lands and other property,
and for the working of the same, and for
selling and settling the same: Provided,
ho,cerer, That the said corporation shall
be organized and go into operation with
in two years from the passage of this
Act.
SEQ. Q. And be il further prooided,
That the capital stock of said corpora
tion shall be one million of dollars
Isl, ,000,000) in shares of one hundred
dollars ($100) each, with the privilege of
increasing the same, from time to time,
to the extent necessary for which said
company is formed. said increase not to
exceed the sum of five millions of dol
lars, (s5. 900, 900, and said increase to be
made only at regular meeting of the
said company, upon vote of two-thirds
in amount of the stock for the time
being in favor of such increase.
SEC. 3. That the said shares shall be
deemed personal property, and shall be
transferable only on tho books of the
company.
SEC. 4. That the said corporation
shall have power to purchase, acquire,
hold, use, work and dispose of real estate
in any of the Counties of this State, to
work and operate mines, to dig phos-
phate on any lands held by the said cor
poration, to work and operate farms and
plantations within the State, and to dis
pose, generally, of the products of the
same.
Sec. S. That the said corporation shall
also have power to make all bylaws ne
cessary for the disposition Of its pro-
perty, and for the management of its
affairs, for the regulation of the term of
Office of its officers, and prescribing their
duties, and to carry out the general OBJ.
lects of the corporation, and the same ut
pleasure to annul and repeal: Provided,
That such bylaws, rules and regulations
shall not conflict with any laws of the
United States or Of the Stute of South
Caroline.
SEQ. 6. That said corporation shall
have power to borrow money by issuing
interest-bearing bonds. secured by mort
gage OF its property and franchises, or
any portion of the same; and, for this
purpose, may issue bonds for sterling,
gold coin or currency, payable in Lon
don, New York or Charleston, secured
ny mortgage to trustees for the payment
OF the said bonds; and, also, may pur-
OAAt~SS ApAANeb AOh Saol VI 1OT OOuu, SGCllrCQ
by mortgage, or partly for cash, and
partly for bonds and mortgages: Pro.
Uided, That the stockholders of said cor
poration shall be liable to the amount Of
their respective share or shares of stock
in said corporation, for all its debts and
liabilities upon note, bill or otherwise.
The books and accounts Of said corpora
tion shall be opened under suoh regula-
tions as may be prescribed by law.
SEQ. Z. That said corporation shall
have the power to establish agencies
at such places in Europe and America rs
it may deem desirable for the carrying
out of its objects; and may, also, hold
and purchase the stocks or bonds of any
joint stock or incorporated companies,
and the bonds Of private individuals.
SEQ. 8. That, within the time pre-
scribed for the going into operation of
this Act, meeting of the said company
shall be held, at which meeting fifteen
directors shall be elected by the said
corporation, which said directors shall
elect from their own number President
and Treasurer; and they shall also elect
such other officers and agents as they
may deem necessary for eHfecting the
object of the said corporation; and an
nually after the said meeting. the said