1854.

1

CHAPTER 746.

AN ACT to incorporate the Geiger Mining Company.

§ 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That Samuel L. Geiger and John S. Geiger, their associates, successors, and assigns, be and they are hereby constituted a body corporate and politic, by the style and title of the Geiger Mining Company, for the term of one hundred years; with power to contract and be contracted with, sue and be sued in that name in all courts and places; to have a common seal, to engage in the mining of coal, iron, and other minerals, and in the manufacture of iron or other products of any lands now owned by them, or which may hereafter be owned by them, in the county of Union, state of Kentucky; and in the transportation of said products, or any portion thereof, to home or foreign market; to hold their meetings within or without the state; and to have all powers which they may need for the successful prosecution of their business, and for the execution of the powers herein granted.

§ 2. That said company may be organized by the appointment of a president and such other officers as the corporators may determine, at such time and place as they may designate, by notice previously given. And when thus organized they and their successors shall have power to make such by-laws, rules, and regulations as may be deemed necessary, from time to time, for the government, management, and successful prosecution of the business of said company, not inconsistent with the constitution and laws of this state and of the United States.

§3. That the capital stock of said company shall be three hundred thousand dollars.

§ 4. That said company may build and own boats for the carrying on their business, and may dispose of their property or any other portion of it by sale or otherwise. They may receive real estate in payment of such part of the subscription as they may deem advisable, and shall have the right to hold, either by purchase or otherwise, such real estate, mining rights, and rights of way, as may be thought necessary by them, for the successful prosecution of their business; and the same, or any part thereof, they may sell or otherwise dispose of as the interest of the company may require.

§ 5. That it shall be lawful for the president and managers of said company, from time to time and at all times, to borrow or obtain on loans such sums of money, and on such terms as may be deemed expedient, for the use of said company, and to pledge or mortgage all or any part of the estates, improvements, effects, and assets whatsoever of the said company, for the repayment of said sums of money so borrowed, at such times as may be agreed upon. § 6. That this act shall take effect and be in full force from and after its passage.

Approved March 9, 1854.

CHAPTER 747.

AN ACT to incorporate the Stanford Deposit Bank.

1854.

Commissioners

to receive stock

1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That T. B. Montgomery, Horace S: subscriptions. Withers, John Engleman, Joseph McAlister, Leo. Hayden, Christian Engleman, James B. Vaughn, A. F. Henley, Thomas W. Varnon, James L. Rice, and John Shanks, are hereby appointed commissioners to obtain subscriptions to the stock of the corporation hereinafter created, who, or a majority of them, may meet at some convenient time and place in the town of Stanford, of which four weeks previous notice shall be given in the Danville Tribune and Somerset Gazette, at which time they may open books and receive subscriptions to the stock of said institution, and shall keep them open for four hours daily, for at least two months, and as much longer as said commissioners shall think proper and necessary, or until the stock is taken.

§ 2. The capital stock of said institution shall be not Capital stock. less than fifty thousand dollars, nor more than one hundred thousand dollars, divided into shares of one hundred dollars each, which shares shall be personal estate, and shall be transferable only on the books of the company, in such manner and subject to such regulations as the board of directors may prescribe.

When books

3. At the expiration of said three months, or as soon thereafter as fifty thousand dollars shall have been sub- may be closed. scribed, to the stock of said oompany, the books of subscription may be closed and delivered to the subscribers, who shall thereupon constitute a body politic and corporate, by the name of the Deposit Bank of Stanford, they and their successors shall so continue for the term of thirty years, and, under the restrictions hereinafter provided, may contract and be contracted with, sue and be sued, plead and be impleaded, and exercise the other powers usually incident to such corporations.

§4. Upon the receipt of the books of subscription, the subscribers, or a majority in value of them, shall meet and elect four persons, (who shall be stockholders,) to serve as directors of said institution, until the first Monday in January following, and until their successors shall be elected. The annual meetings of the stockholders of said bank shall thereafter be held on the first Monday in January of each year, but meetings may be called at any time, by any number of persons holding one-third in value of the stock, upon giving similar notice to that provided in the first section hereof; and in all meetings of stockholders, each person shall be entitled to one vote for each share of stock held by him. The officers shall hold their offices for one year, and until their successors are elected, but may be removed by a majority at any regular or called meeting of

42-VOL. II.

Officers to be chosen.

1854.

Condition of

the stockholders. They may choose one of their number, or of the other stockholders, as their president; may appoint a secretary and such other officers as they may require, fix their compensation, prescribe their duties, and take bond and security for the faithful discharge thereof; may prescribe the manner and terms of paying in the stock, and shall have the general control of all the affairs of the bank.

§ 5. The directors shall annually appoint two or more stockholders to attend and hold the annual election.

§ 6. At each annual meeting of the stockholders, a committee shall be appointed who shall, at least twice in the the institution year, examine into and report upon the condition of the institution, which report shall be filed in its office, and remain subject to the inspection of all the stockholders.

to be examined into.

When divi dends are to be

declared.

§ 7. The business of said bank shall be to receive money and bank notes on deposit-and it may allow the depositor such interest thereon as may be agreed upon-to deal in gold and silver coin, bullion, bills of exchange, and promissory notes, but it shall not buy or discount promissory notes at a rate of discount exceeding that allowed to the Northern Bank of Kentucky; to buy and sell the stock of other companies, and the bonds of this state, or of the United States; but it shall not issue notes or bills, or certificates of deposit, or any other instruments intended for circulation as money. All promissory notes purchased or discounted by said bank, payable at the same or at any other banking institution in this state, shall be put on the footing of foreign bills of exchange. The directors shall annually or semi-annually declare dividends of the profits arising from the business of the bank.

§ 8. The said bank shall receive on deposit any sum of fered during banking hours, if not less than one dollar, and infants and femes covert may deposit therein, and may control the deposit so made, unless restrained by some competent tribunal. Should any person make a deposit in said bank and be refused payment thereof on demand made for the same according to the terms of deposit, and without lawful excuse, said bank shall forfeit and pay to the depositor the full value or amount of his deposit, with damages at the rate of fifteen per cent. per annum for the detention, to be recovered by suit in the Lincoln circuit.

court.

§ 9. The said bank may purchase, hold, sell, and convey any real or personal estate that may be necessary to carry into effect the object of its creation, and no other, and it may receive conveyance of such property as may be proper or necessary to secure any debt due it, or which may be sold for the payment of any such debt.

§ 10. This charter, and all privileges and rights therein. granted, shall be forfeited by any violation of the provisions thereof by any of the officers of the institution; and

the failure upon the part of the officers, or refusal by them to pay any tax imposed upon the capital stock of the institution by the general laws of this state, shall also work the forfeiture of this charter. The circuit courts of Lincoln and Franklin counties shall each have jurisdiction tion to try and declare the forfeiture thereof, upon the petiof the attorney of the commonwealth at any time, or upon the petition of, or by scire facias sued out by the attorney general, when directed so to do by the governor for the time being, or by the general assembly, fully setting forth and stating the acts of forfeiture complained of.

11. The general assembly reserves the right to examine into the condition and affairs of the institution by any person or persons, or committee selected or appointed for that purpose at any time, and in such manner as the general assembly shall think proper. And the officers of the institution are required to report to the secretary of state, on the first day of January and July of each year, a full and correct statement of the business, condition, and affairs of the institution.

Approved March 9, 1854.

1854.

Legislature reserves the right

to examine into affairs, &c.

Style of ineor poration.

§ 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That a company is hereby formed and created a body politic and corporate, under the name and style of the Sherburne Bridge Company, for the purpose of constructing a permanent bridge across Licking river, at the town of Sherburne, in the county of Fleming; and the said company may contract and be contracted with, sue and be sued, plead and be impleaded, in all courts of law or equity; and to make and use a common seal, and the same to break or alter at pleasure. They shall have the right to borrow money, not exceeding the capital stock hereinafter named. They shall have power to establish such by-laws, ordinances, and regulations as shall be deemed to company. ed necessary for the good government of the said corporation, not inconsistent with the laws and constitution of

this state and the United States.

Right delegat

§ 2. The capital stock of said company shall be twenty- Capital stock. five thousand dollars, to be divided into shares of twentyfive dollars each.

Books to be

whom

§3. That books for the subscription of stock shall be opened at suitable places selected by the commissioners. opened, and by That the following named persons shall be commissioners: D. K. Stockton, Jno. T. Walker, E. S. Fitch, James C. Sousley, S. D. Baird, Thomas Dougherty, H. T. Wilson, William S. Fant, Thomas Adams, James B. Sorencey,

1854.

When compa ny to organize.

directors to be chosen.

Wm. R. Hope, Daniel D. Duty, Wm. Sudduth, Thomas Mathews, and Peter Everit, who shall open one or more. books each for the subscription of stock,. in the following form, viz: "We, whose names are hereto subscribed, propose and bind ourselves to pay unto the Sherburne bridge company twenty-five dollars for each share of stock set opposite our names:" Provided, said company shall not call more than five dollars on each share of stock at any one call, and said calls to be at least thirty days apart.

§ 4. When five thousand dollars of said capital stock shall be subscribed, it shall be the duty of said commissioners, or a majority of them, to give notice in some newspaper having the widest circulation among the stockholders, and by written notice put up in some public place in the town of Sherburne, of a meeting of the stockholders of said company, on some given day, in the town of Sherburne, for the parpose of organizing said company, President and by choosing officers, to consist of a president and five directors, who shall have the power to choose any other offi cers they may deem advisable. At the election of president and directors each shareholder shall be entitled to one vote for each share of stock he may own; and said shares shall be voted in person or by written proxy; and said officers shall continue in office until the next regular annual election, and until their successors are duly elected and qualified. After the first election, the annual election shall be held on the fourth Saturday in March in each succeeding year, at which time the president shall make out a full and fair statement of the affairs of the company, which shall be presented to the company, and such dividends of profits of toll divided: Provided, the president and directors shall divide the dividends at the end of each six months, if deemed advisable.

Powers con.

dent, &c.

§ 5. That the president and directors shall have the right to fix all rates of toll for passing over said bridge: ferred on presi Provided, the rates of toll so fixed shall not exceed the rates of toll now allowed by law at the said ferry; and collect the same from all and every person, thing, and kind for crossing thereon that is now allowed and collected by said ferry; and the rates of toll shall be posted up in some conspicuous place where the toll is demanded.

injuries done.

§ 6. If any person shall willfully do any act or thing Penalties for whatever, whereby the said bridge, or anything connected with the same, is injured or damaged, the said person or persons thus offending shall forfeit and pay three times the amount of damages thus sustained, recoverable before any court of competent jurisdiction, by suit in the name of said company; and if any one pass or attempt to pass such bridge wtihout giving satisfaction for the same, he or she thus offending shall forfeit and pay three times the amount of such toll, recoverable before a justice of the peace; aud if any person shall willfully set fire to said