The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-06-28
Acts Passed by tho General Assembly
at the Extra Session OF 1S77.
AN Acr to charter the Changers Savings
Bank, of Anderson, South Caroline,

,i at ttse rAtt's iSessliVn oi sDtt.r.isi
AN Acr to charter the Changers Savings
Bank, of Anderson, South Caroli,s.
SEcr.oN l. Be. 10 enacted by the Senate
and House Of Representatives of che
State of South Carolina, now met and
sitting in General Assembly, and by the
authority Of tho same, That w. w. Rus
sell, John b. Watson, J. Bolton Watson,
Kenon Breazeale, Joseph Y. Fretwell,,
William Burriss, w. w. Humphreys,
James II. Mcccanell, William McGukin,
Matthew Snipes, James A, Drake, T. 3.
Lee, Stephen McCully, n. a. McCully,
L. *. McCully, L. nj. Rucker, B. ID.
Dean, Peter II. Brown, ID. l.. Cox, l.. N.
Clinkscales, j. f. Breazeale, and their
successors and associates, be, and they
are hereby, constituted and made q body
poiitsc and corporate, by the name and
style OF "The Grangers' Savings Bank, of
Anderson, South Carolina" and by that
name aud style shall be, and are hereby,
mace capable in law to have, purchase,
enjoy, and retain to it and its successors.
lands, rents, tenements, goods, chatteIs
| and effects of whatever Kind or quality
whatsoever, and the same to sell, alien or
dispose of; to sue and be sued, plead and
be impleaded, answer and be answered
defend and be defended in courts OF
record, Or any other place whatsoever.
! and have perpetual succession; to have
and exercise the rights and privileges Of
other corporations now existing, or that
may hereafter be enacted, and also to
make, have and use common seal. and
the same to break, alter and renew at
their pleasure; and also to ordain and
put III execution such bylaws and rcgu-
iasions as may seem necessary and con
yenient for the government of the said
corporation.
SEC. 2. That the capital stock Of said
corporation shall be $4,000, to be
divided into shares of $1no each, and may
be increased from time to time to sum
not exceeding 100000, us may be
doomed necessary by the board of di-
SEC. 8. That this association may or
ganize and elect President and FIVE or
more directors, and may go into opera
tlon as soon as 0,000 of the capital
STOCK snail De paid in Proridcd, That
the stockholders shall be liable TO the
amount of the stock held by them re-
spectively. ,rn4 ...I.'--1'.I'-,.
SEC. 4. The President and directors
shall appoint such clerks and other Off
GERS as they may find necessary properly
to conduct the business of said COMPANY.
and allow them suitable compensation;
all OF which clerks and officers shall hold
heir places during the pleasure of said
President and directors. L,lst
SEC. 8. The mode Of voting ut the
meetings Of ss:a company shall DC one
vote for each share of stock.
SEC. o. The first meeting of stock
holders of said association shall be on
the fourth Monday in September, 1877,
and thereafter on tho same day of each
year, shall they hold their annual meet
ing: lrorided, The said stockholders, at
any regular meeting, or board of direc-
tors, at any, time may change the day of
said annual meeting; and the President
and directors may at any time call a
general meeting of the stockholders. 'sa
SEC. z. The members Of this assoCia-
ton shall not be liable for any loss,
damage OF. responsibility, ether than the
pEopoTty they have in the capital and
FUNDS OF the company, to .he amount of
the shares held by them respectively,
and. any profits arising therefrom not
SEC. 8. That said association shall
have power. and authority to invest its
k.
other stocks in purchase of bonds of the
United States, bond; issued by this or
any other State of the United States. and
in bonds of any Incorporated company,
to lend money upon personal security or
mortgages of real estate, to discount
bonds, notes and bills of exchange or
other evidences OF debt, and use their
property in any manner incidental to a
banking business, or the general business
Of the association.
SEC. 8. This act shall bo in full force
as soon as the election Of President and
directors takes place, and the capital
stock Of 500 600 re na;d in.
Approved June 0, 1877.
JOINT RESOLUTION to raise C commits
sion to investigate the indebtedness of
the State.
In view Of the great uncertainty that
exists in the minds of the property own
ers and tax paying portion Of our people
| as TO the real and definite amount of the
true and valid indebtedness. of the State.
and the charac.tr of the obligations out
of which the Indebtedness has grown.
| and of the equally unsatisfactory condi-
| tion Of the credit of the State MS long as
| any doubt or suspicion attaches to claims
! held against her; and in order to give
reasonable assurance to the honest cred.
itor, on the one hand, that the State in
tesds tse ss:thft;ily mea. iisT her .S;,ieataiioIls
| aS as early date as practicable; and, on
! the other hand, to satisfy the tnx payers
that the General Assembly will fave
proceeded intolligently in niwhatever steps
may be taken to adjust and provide for
1 the public debt ), therefore,
SECTION !. BE IL ycsolred by the Senate
and House OF Representatives of the
State of South Carolina, now, mes and
| sitting in General Assembly, and by che
| authority of the satne, That. in accord
ance with that portion Of his Excelicncy's
| message touching this subject, a cornrEis-
sion, to consist & three ifiembefs of the
Senate and four members Of the House
OF Representatives, shall be elected by
each house respectively o cHi
/ SEC. 2. 1t shall DO the duty of said
commission to makena complete and
thorough investigation of the following
z! end kindred matters, and to report the
results to the next session of tt- General
Assembly, 10 wit: First, The entire
amount of consolidated bonds and certifi-
Gates of stock that have been Issued under
! the act to reduce the volume of the pub.
lie debt, and provide for the payment ol
4 the same, approved December %, 1873
80 as to show, under. proper heads nnd
clasyifcations, the numhor in the series
the letter, date of issue, date of redemo.
h0n, deho nomination, rate of interest, by
whom signed and conntersigned. and Il
/ whom Issued. Gecoud, whether there /:
4 in the State Tfeas,trersB Office an file q,