1872.

between the owners or lessees of said wharves and the owner or owners of any craft. Said Pryse, Beatty, and Martin shall post, at or near the landing of their respective wharves, their rate of charges upon each vessel or craft landing at their said wharves, not to exceed the rates before named. The owners aforesaid, or their lessees or vendees, shall have full power at all times, when the charges herein permitted are not promptly paid on demand, to levy and distrain for any wharfage due the said respective owners, lessees, or associates, and their costs, upon the boat or craft or raft for which wharfage is due and payable, or upon a sufficiency of the tackle, furniture, and appurtenances, or any property of the person or persons from whom such wharfage is due, and advertise and sell the same as in case of an execution of fi. fa., or the parties to whom said wharfage is due may attach any debt or garnishee the same in the hands of others under the same regulations now provided by law.

§ 2. The wharves and lands herein described shell not be subject to be condemned by the board of trustees of said town, or by any authority whatever.

§ 3. This act shall take effect from its passage.

Approved March 8, 1872.

CHAPTER 470.

AN ACT to amend the charter of the Carroll, Owen, Gallatin, and Eagle

Bridge Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That the president and directors of said company, named in the first section of said act, together with T. J. Jenkins, are hereby continued a corporation and body-politic, and shall hold their offices until the first Monday in May, 1873, and until their successors shall have been duly, elected and qualified.

§ 2. This act shall take effect from its passage.

Approved March 8, 1872.

CHAPTER 472.

AN ACT to amend the charter of the Ballardsville and Christiansburg Turnpike Road Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

,་་་

1. That the charter of the Ballardsville and Christiansburg Turnpike Road Company be so amended as to

authorize the president to keep the said road in repair; and for that purpose the stockholders in said road, and their hands, shall work on said road, under the direction of the president of said road, under the laws now in force authorizing surveyors of roads, under chapter 289-90 of the Revised Statutes, to keep dirt or county roads in repair; and said stockholders and their hands shall not be required to work on county or dirt roads.

§2. This act to take effect from its passage.

Approved March 8, 1872.

1872.

CHAPTER 473.

AN ACT to incorporate the Carrsville Silver and Lead Mining Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That P. C. Barnett, C. L. Harris, F. C. Cox, James Fleming, Richard Miles, and J. C. Barnett, and their associates, successors, and assigns, be, and they are hereby, created a body-politic and corporate, with perpetual succession, by the name and style of the" Carrsville Silver and Lead Mining Company;" and by that name may contract and be contracted with, plead and be impleaded, sue and be sued, in all courts and places in this Commonwealth, as a natural person may; and may have and use a common seal, and break, alter, or change same at pleasure; and, said company shall have and may exercise any and all other powers usual and incident to corporations in this State.

Corporators®

names.

style.

Name and

2. The property, business, and affairs of said company Directors and shall be vested in, and managed and controlled by, a board their powers. of six directors, to be chosen by the stockholders therein, as the by-laws of said company may prescribe; and the said board of directors are hereby authorized and fully empowered to make such by-laws, rules and regulations, for the management, government, and control of said company, its property, business, and affairs, as they may deem proper, not inconsistent with the laws of the United States or of this State, and may alter or change same at pleasure. They shall elect one of their number president of said company, and the president and other directors may appoint such other officers or agents of said company. as they may deem necessary, and prescribe their qualifications, duties, and powers, and may require and take of them bonds upon such terms, and with such conditions and surety, as they may deem proper, upon which bonds recoveries may be had by said company for breaches, of the conditions thereof. No person shall be elected, or

3

1872.

-how raised

serve as a director of said company unless he shall own in his own right stock therein.

3. The board of directors of said company may fix Capital stock the capital stock of same at any amount not exceeding and disposed of four hundred thousand dollars ($400,000), which shall be divided into shares of one hundred dollars each; and they may open books for subscription for said stock, at such times and places, and subject to such terms and conditions, as they may consider proper; which stock shall be held to be personal estate, and shall pass as such, and shall be issued, sold, and transferred as the by-laws of said company may direct; and whenever one tenth the amount of the capital stock so fixed by said board shall have been subscribed for, the persons named in the first section of this act shall call a meeting of the stockholders, at some convenient time and place, for the election of a board of directors. The said persons named shall be the first board of directors, and shall hold their office until their successors are elected and qualified, and until then shall have the power to do all things necessary for the organization of said company, including the power to fix the amount of capital stock thereof. The board of directors may cause books for the subscription for capital of said company to be kept open until the whole of same is subscribed for, or they may hold, sell, or dispose of same as they may deem proper: Provided, That said board shall not issue or dispose of any such stock, except upon subscription; and the stock of such company shall be personal property, and pass as such.

powers.

§ 4. Said company shall have the power to acquire and Corporate hold real estate not exceeding in value one hundred and fitty thousand dollars ($150,000), either by the acquisition of the fee-simple title thereto or by lease, and shall have the power to sell and convey, or lease the same, as they may deem proper; and may take the fee-simple title to real estate, or the lease thereof for a term of years, or the lease of the mining privileges thereon, in payment of subscription for stock, upon such terms, and at such price, as may be agreed upon; and may acquire and hold any and all personal estate, machinery, apparatus, fixtures, and other things necessary for carrying on and prosecuting the business of mining for silver, lead, iron, coal, salt, oil, or any other mineral or substance whatever, and for manufacturing or preparing same for market, and for conveying same to market; and may carry on said business at any place or places in this Commonwealth, and may acquire the right of way or passway over real estate as a natural person may; and when such right of way shall have been acquired, may construct such roads and ways as may be necessary and proper for carrying on said

business. Said company may sell and convey its property, rights, and franchises, or any part thereof, and the purchaser thereof shall take same, subject to all the restrictions prescribed by this act.

§ 5. That there is hereby conferred upon said company the right to mine and remove any and all mineral or other substance (and so much earth, stone, or other material or thing as may be necessary in such mining), under the portions of the bed of the Ohio river herein mentioned and described; that is, all that partion of such bed lying between the Kentucky shore and low-water line of the Illinois shore, and which lies fronting, and opposite the river front of each of the following described tracts of land and town lot, viz: One tract, containing one hundred acres, lying in Livingston county, Kentucky, adjoining the town of Carrsville, and fronting on said river about one hundred poles, the same now owned by C. L. Ilarris; also one town lot, known as lot No. 1, in upper town of Carrsville, in said county, same fronting on said river, and now owned by P. C. Barnett and T. T. Barnett; also one tract containing about one hundred and eighty acres, owned by F. C. Cox & Co., and lying in said county, fronting on said river immediately below the mouth of Deer creek; also one tract lying in Crittenden courty, Kentucky, fronting on said river a distance of about two miles, immediately above the mouth of Deer creek, and now owned by P. C. Barnett and Richard Miles. The intention of this section is to convey to said company mining privileges, &c., under those portions of the bed of said river lying between the said shores, and between lines drawn at right angles with and across said river from the termini of the lines bounding the river front of each of said tracts of land respectively, and of said town lot: Provided, however, The said company shall not have the mining privileges, &c., conveyed by this act, until it shall have first obtained the written consent to use the same of the owner or owners of the land on the Kentucky shore fronting and binding on such portion of the bed of said river under which it is desired to obtain mining privileges, &c; but when such consent shall have been obtained, the rights conferred by this act shall be complete.

1872.

May borrow money and is secure same by mortgage.

§ 6. The said directors are hereby authorized to borrow, for use of said company, money, upon such terms and con- sue bonds, and ditions as they may deem to the interest of said company. They may also issue the bonds of said company (with or without coupons attached), in such amounts, not exceeding two thirds of the paid up capital stock of said company, and of such denominations as they may deem best, and may sell and dispose of same upon such terms and conditions, and for such consideration, as may, in their

1872.

of directors.

judgment, be for the interest of said company. Such bonds shall not bear a greater rate of interest than ten per centum per annum. They may secure the payment, principal and interest, of any money borrowed, or of any bonds issued and sold by mortgage, or by deed of trust, conveying all the property, rights, and franchises of the company, conditioned for the prompt payment of such principal and interest as it may become due; and in such deed of trust may authorize and empower one or more trustees to sell and convey the property, rights, and franchises of said company, in accordance with the provisions of such deed of trust, without suit or decree of foreclosure; and such sale and conveyance by such trustee or trustees shall pass to and vest in the purchaser all the right and title of said company in and to the property, rights, and franchises sold; and the purchaser or purchasers shall take and have all the rights, powers, franchises, and privileges conferred by this charter, and shall take same subject to all the obligations and restrictions thereof.

§7. The board of directors shall hold their office for and Term of office during the period of twelve months, and until their successors are elected and qualified. A second election of directors shall be held at the expiration of twelve months after the first shall have been held, and an election shall be held Directors to at the expiration of each twelve months thereafter.

take oath.

The

directors shall, before they enter upon the discharge of the duties of their office, take an oath, before some judicial officer of this Commonwealth, that they will faithfully, and to the best of their skill and judgment, discharge all their duties as such.

8. The said board may open and establish offices at any places in this Commonwealth for the transaction of its business, and at which meetings of the board of directors may be held.

§ 9. The said company shall not exercise any banking or other privileges contrary to the laws of this State or of the United States.

§ 10. This act shall take effect from its passage.

Approved March 8, 1872.

CHAPTER 474.

AN ACT to amend the charter of Big Sandy Navigation and Manufacturing

Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That section six (6) of an act, entitled "An act to incorporate the Big Sandy Navigation and Manufacturing Company," approved January 31st, A. D. 1871, be so