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

tno flRnL 10 o6LaDll6D wagon rOaQ6 20 ana
upon its property, with tho privilege
of connecting the same with any roads
In the State, and shall enjoy all the
privileges that are awarded, under the
general laws of the State, to any corpo-
ration. together with the special privi
leges awarded by this charter.
Approved March 13, 1872.
AN ACT TO INCORPORATE THE CHARLESTON
LOAN AND EXCHANGE COMPANY.
SECTION 1. Be it enacted 6y the Senate
and House of Representatives Of the State
Of South Carolina, no,o met and sitting in
General Assembly, and By the authority of
the same, That the persons and bodies
corporate vino shall become stockholders
in the manner hereinafter described, and
their successors, shall be body politic
aud corporate, under the name, style and
title of the Charleston Loan and Ex-
change Company.
SEC. 2. The capital stock Of the said
company shall be one hundred thousand
dollars, to be divided into shares of one
hundred dollars each, and shall be raised
in the following manner: The following
persons are hereby appointed Commits
sioners to receive subscriptions to the
capital stock, to wit: T.. 81. Williams, H.
Bischoff, Wm. Gurney, j. A. Bowley, J.
B. Dennis, @. j. Lamb, W. Fl. Garden
er, Jr., 8. A. Swails and J. 81. Runkle.
The said Commissioners, or majority
of them, shall open books, at such
places in Charleston as they shall ap-
point, within sixty days from the passage
of this Act, and receive subscriptions to
the said stock: Provided, The said Com
missioners shall have given ut least
three days notice in two daily papors in
the city of Charleston, of the time and
place of receiving the subscriptions, and
shall require payment of twenty-five
dollars on each share, to be made at the
time Of subscription therefor: And pro-
uided, further, That the Board of,Direct-
ors shall have power, in like manner, at
such time as they shall see fit. to in
crease the said capital to the sum of five
hundred thousand dollars.
Sec. 3. That if, after sixty days from
the time Of opening the books for sub
scription. one-tenth of the capital stock
be subscribed for, then the shares to
that extent be divided pro rata among
the stockholders, and the company en-
powered to commence business.
Sec. 4. That the said company, under
It's name, shall have succession of officers
and members, and all the powers, privi-
leges and franchises incident to corpo-
ration, and shall be capable of taking,
holding and disposing of their capital
stock, according to such rules and regu-
lations as they shall, from time to time,
establish, and, also, of taking, holding
or disposing Of, or investing the in
crease, profits or emoluments of their
said capital stock, and shall have full
power and authority to have and use q
common seal, and the same to alter and
renew at thoir pleasure, aud, by the
name and title aforesaid, shall be able
and capable, at law and in equity, to sue
and be sued, to plead and be impleaded,
answer and be answered unto, in all
manner Of suits. pleas, demands and
judicial proceedings whatever; and they
are further empowered to appoint q
President, Board of Directors, and such
officers as they may deem expedient. for
the proper protection and transaction of
their business.
Sec. 5. That the said company is
hereby authorized and empowered to
make contracts, and to make loans of
money. upon security of real estate,
personal property and chooses in action,
to barter in all kinds OF mcrchantable
articles, to give and to hold in exchange
upon such rates Of interest as may be
agreed upon between tho persons or
parties borrowing, and exchange mt
rate agreed upon by the Board OF Dircc-
tors.
SEC. G. That the said company shall
have right aud power to acquire, pur-
chase, take and hold, in its corporate
name, lands and real estate, and the
same to demise, grant, sell, exchange and
convey in fee simple, or otherwise, and
that the sum Of three hundred dollars
be yearly returnable to the State, out of
the next income derived by the com
pany, and that this Act remain in force
for the period Of twenty years.
Approved March 13, 1872.
AN ACT TO INCORPORATE TIE CHARLESTON
LOAN ASSOCIATION, OF THH CITY OF
CHARLESTON.
SECTION l. Be ii enacted BY lie Senate
and House Of Representatives Of the State
Of South Carolina. noto met dnd sitting in
General assembly, and by the authority
Of The same, That Samuel Il. Gaillard, L.
II. Frost, W. A. Grant, NJ. J. Hirsch,
0. r. Levy, a. L. Ford, w. II. Jones,
Jr., and james y. Bowiey, together with
such other persons as now are, or here
l., kx1 l.