The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-06-05
BYW A. LEE AND HUGH WILSON.

record, oa any other place whatsoever,
and have perpetual succession; 10
have and exercise the rights and priv
ileges of other corporations now ex'
isting, or that may hereafter be enact.
ed; and, also, to make. have and use
common seal, and the same to break,
alter and renew at their pleasure
j, and, also, to ordain and put in execu.
q ton such bylaws and regulations as
may seem necessary and convenient
}, for the government Of the said corpo-
ration.
Sc. g. That the capital stock Of
said corporation shall be twenty-five
thousand dollars, to be divided into
! shares of one hundred dollars each,
: and may be increased, from time to
time. to q sum not exceeding five
hundred thousand dollars, as may be
deemed necessary by the Board of
Directors. ~ ..... 81.
Sec. 3. The persons named in the
first Section Of this Act shall be the
Directors of this Company until
others are appointed by the stock
holders, and they may, as soon as
proper, appoint a President from
among their number, or from among
others who may hereafter be associa-
ted with them; and the said President
shall continue in office for the period
of one year from the day of his elec-
ton, or until his successors appointed.
In case Of vacancy in the Office of
President or Director, from any cause,
tho remaining Directors may elect
others to supply their places until a
meeting of the stockholders shall be
held. There shall be FIVE or more
Directors who, with the President.
shall manage the affairs of the com
pany. Three of said Directors shall
constitute a quorum for any and all
business purposes of said company.
The meetings of the stockholders
shall be held in the principal Office eff
the corporation. which shall be desig-
nated by the Board of Directors.
Sec. 4. The President and Directors
shall appoint such clerks and other
officers as they may find necessary
properly to conduct the business Of
said company, and allow them suitable
compensation; oil Of which clerks
and officers shall hold their places
during the pleasure Of said President
and Directors ...-
SEC. 5. The President and Directors
shall have power to appoint agents
in any part Of the State or. elsewhere,
and, at their discretion, may take
from them bonds, with security, con-
ditioned for the faithful performance
Of their duties; such agents being
removable at the pleasure of the
President, subject to the approval Of
the Board of Directors.
SEc.6. The mode of voting at the
meetings Of said company, shall be
one vote for each share Of stock, and
every stockholder may, at pleasure,
by power of attorney or in person,
assign or transfer his stock in the
company, on the books of the same,
or any part thereof, not being less
than q whele share.
Sec. Z. The first annua! meeting Of
the stockholders of said company
shall be on tho first Tuesday of June,
1872, and thereafter Oh the same day
Of each year: Provided. The said
stockholders, atany regular meeting,
or Board of Directors, may at any
time, change the day Of said annual
meeting; and the President and Di-
rectors, may, at any time, call gen.
eral meeting of the stockholders, and
any number Of stockholders, owning
not less than one!third of the whole
number Of shares, may require the
President to call such meeting, and,
on his refusal to do so, may themselves
call such meeting, in such case giving
at least ten days notice, by publica-
ton in one or more newspapers pub
lished in the city of Columbia.
Sec. 8. The members of the company
shall not be liable for any loss, dam.
age or responsibility, other than the
property they have in the capital and
funds Of the company, to the amount
of shares held by them, respectively.
and ny profits arising therefrom not
.Sk. 9. That said corporation shall
have power and authority to invest
it's capital stock or other funds in
bank or other stocks, in the purchase
of bonds Of the United States, bonds
issued by this or any other State of
the United States, and in bonds of
any Incorporated company, to lend
money upon personal or real security,
to discount bonds, notes and bills Of
exchange. and to guarantee the pay
ment Of notes, bonds, bills of of'exchange,
or other evidences of debt, and use
their property in any manner Incl.
dental to q banking, insurance and
trust business, or the general business
Of the company.
SIC. 10. All policies of insurance,
and other contracts made by said
company, signed by the President,
and counter.igned by the Secretary,
shall be obligatory on said company.
and have the same effect 10 If attested
by corporate seal.
SEC. II. This Act shall be 10 full
force after its passage.
Approved February 81, 1872.
AN ACT to Incorporate the Charles,
ton Hook and Ladder Company,
No. 3.
SEC, !. Be it enacted by the Senate
and House of Representatives of the