The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-06-28
Acts Passed by the General Assembly
at the Extra Session of 1917.
An ACT to charter the Changers Savings
Bank, Of Anderson, South Carolina.


Az ACT to charter the Changers Saving
Bank, Of Anderson, South Carolina
SECTION /. BE il cnarted by the Senate
and House of Representatives of tht
State of South Carolina, now met ant
sitting in General Assembly, and by thu
authority of the same, That W. w. Rus
sell, John b. Watson, j. Bolton Watson
Kcnon Breazcalc, Joseph Y. Frctwell
William Burriss, W. W. Humphreys
James III. Mcconnell, William McGukin
Matthew Snipcs, James \. Drake, T. B
Lee, Stephen McCully, y. \. McCully
p. H. McCully, +. NJ. Ruckcr, b. ID
Dean, Peter r. Brown, ID. l.. Cox, l.. n
Clinkscalcs, j. +. Brcazcalc, and thcil
successors and associates, be, and they
arc hereby, constituted and made Il body
polite and corporate, by the name and
style of "Thc Grangcrs' Savings Bank, oil
Anderson, South Carolina;" and by that
name and style shall be, and arc hereby,
made capable in law to have, purchase,
enjoy, and retain to it and its Successors,
lands, rents, tcncmcnts, goods, chattcs
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 implcaded, answer and he 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 Il common seal, and
the same to break, alter and renew at
their pleasure; and also to ordain and
put in execution such bylaws and rcgu-
lations rs may seem necessary and con-
vcnicnt for the government of the said
corporation.
SEC. >. That the capital stock of said
corporation shall be $4,000, to be
divided into shares of 800 each, and may
be increased from time TO time to a sum
not exceeding 100000, as may be
deemed necessary by the board of di-
rcctorS.
SEC. 8. That this association may Or
ganizc and elect Il President and five or
more directors, and may 20 into opera
ton as soon us $20,0U0 Of the capital
stock shall be paid in: PyoriicI, That
the stockholders shall be liable to the
amount of the stock held by them re-
spcctivcly.
SEC. T. The President and directors
shall appoint such clerks and other otli-
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
their places during the pleasure of said
President and directors
SEC. 5. The mode of voting ut the
meetings Of said company shall be one
vote for each share of stock.
SEC. 6. The first meeting of stock
holders of said association shall be on
the fourth Monday in September, 1877,
and thereafter on the same day of each
year, shall they hold their annual meet
ing; Proridel, The said stockholders, at
any regular meeting, or u board of dircc-
tors, at any time may change the day Of
said annual meeting; and the President
and directors may at any time call Il
general meeting of the stockholders.
SEC. Z. The members of this associa-
ton shall not be liable for any loss,
damage or responsibility, other than the
property they have in the capital and
funds of the company, to the amount of
the shares held by them respectively,
and any profits arising thcrclrom not
divided.
SEC. S. That said association shall
have power and authority to invest its
capital, stock or other fuHd> in bank, or
other stocks in purchase Of bonds of the
United States, bonds issued by this or
any other State of the United States, and
in bonds of amy 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 IL
banking business, or the general business
of the association.
SEC Q. This act shall be in full force
as soon as the election Of President and
directors takes place, and the capital
stock OF $40, 600 be paid in.
Approved June Q, 1871.
JOINT RESOLUTION to raise Il commits
sion to investigate the indebtedness OF
the State.
In view of the great uncertainty that
exists in the minds Of the property OWL
crs and tax paying portion of our people
as to the real and definite amount Of the
true and valid indebtedness of the State,
aud the character of the obligations out
OF which the indebtedness has grown,
and of the equally unsatisfactory condi-
ton of the credit of the State as long Il
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.
tends to faithfully meet her obi legations
at as early Il date as practicable; and, Oh
the other hand, to satisfy the tax payers
that the General Assembly will have
proceeded intclligcntly in whatever step'
may be taken to adjust and provide iol
the public debt; therefore,
SECTION /. BE it irsoIrc't by the Senate
and House of Representatives of tho
State of South Carolina, now met ant
sitting in General Assembly, and by the
authority of the same, That, in accord
ancc with that portion of his EXcclcncy'
message touching this subject, q commits
sion, to consist of three members of Tho
Senate and four members Of the House
Of Representatives, shall he elected by
each house respectively.
SEC. ,. 1t shall be the duty of salt
commission to make q complete ant
thorough investigation Of the folIowin!
and kindred matters, and to report thu
results to the next session Of the Genera
Assembly, to wit: First, the entire
amount of consolidated bonds and ccrtiti
Gates of stock that have been issued undc
the act to reduce the volume of the pub
lie debt, and provide for the payment 0
the same, approved December %, 1873
so as to show, under proper heads AM
classlications, the number in the series
the letter, date of issue, date of rcdcmp
ton, denomination, rate of interest b.
whom signed and countcrsigncd, and t.
Il, Al,