Beaufort Republican. [volume] (Beaufort, S.C.) 1871-1873, 1872-06-20

until the principal of said bonds snail
become due, such payment to be made
in United States currency only.
Sec. 5. Hereafter every bond con-
yerced or issued under or in pursuance
of any of the laws of this State, shall be
of the description and style of those
heretofore issued under an act entitled
''an act to provide for the conversion of
State securities, approved March %,
1869, so that all the bonds of this State
shall be of one description and style, as
as soon as the exchange can be made
provided, that all bonds of the State OF
South Carolina, converted into stock OF
said State, and all stock of the State OF
South Carolina converted into conversion
bonds of the State, as provided in the
act hereinbefore mentioned, approved
March %, 1869, shall be cancelled imme-
diateIy upon the conversion of the same,
and retired from issue or hypOthecatlon.
Sec. 6. All bonds heretofore author
lied to be issued, shall be issued IN pur
suance of, and in conformity with, the
the provisions Of this act, and shall be
conver ed into bonds, of the style and
description named in the next preceding
section, as speedily as the same can be
done.
Sec. 7. That neither tho sum nor
sums realized from any sale or sales Of
anv of the bonds of this State, shall in
any manner affect or impair the vrlidity
and obligation thereof.
Sec. 8. The Governor is hereby
authorized and required to sign all the
bonds named in this act The State
Treasurer is authorized and required to
countersign the same. And the Secre
tarv of State is authorized and required
to affx the seal of the State to the same
without delay; provided, that no bonds
shall be signed by the Governor, or
countersigned by the State Treasurer,
except for the conversion Of bonds or
stocks already issued pursuant to law.
Sec. 9. Nothing, contained in this act
shall authorize the issue or conversion of
any bonds of this State other than those
named in the report ymade by the State
Treasurer as specifedin the 3rd section
of to act, and shdh as have been
authorized under previous laws of this
State.
Sec. 10. The Conmorei Warehouse
Co pay. in the CITY OF New York, and
Carolina National Bank, lin the city Of
Columbia, South Carolina are hereby
declared to be authorized H Haces for the
registering of bonds coupon5o or stocks OF
the State of South Carolina, and they
are authorized, on the passage of this
act. to Immediately advertise. in one or
two of the principal papers in each +
the cities Of new York, Columbia ard
Charleston to the holders of all the
bonds. coupons or stock of the State OF
South Carolina, the necessity OF rngI'te
ing their bonds, cOupO or stock at one
of the above authorized places Of regis
try In the registration Of said bond,
coupons or stock, the number and de
nomination Of each bond. co1pon or car-
tifcate of stock, the act under which 1t
was issued, and the name OF the person,
ASSOCIATION, corporation or firm repre-
senting the same shall be en3o 'sed upOr
said bonds, coupons or stocks may not he
presented at more than one place OF
registration. 1t shall be the duty Of tn"
said Commercial Warehouse COMPANY,
in the city Of New York, and the Carroll
ma National Bank, in the cry OF Co!um
hia. South Carroll a. to publish III the
cities of New York, Charlie fol agd Co
lumbia, quarterly statements Of whoe
amount Of the hoHds. coupons or stocks
registered by them. the number, de-
nomina. ion. and the act under which they
were issued. The State Treasurer and
Financial Agent of the State, in the city
of New York, shall not pay interest on
said bonds or stocks until they have been
registered according to the requirements
Of this act.
Sec. II. All acts o. parts Of acts con-
trary to, Cor inconsistent with, this act
are, for the purpose Of this act, but for
no other purpose, hereby repeaIed.
Sec. y. This act shall take effect i'm
mediately.
Approved March I3, 1872.