1839 of officers. subscribed, as soon as the proper officers are elected and qualíto receive the same. SEC. 4. That the said commissioners shall notify said stockFirst election holders to meet at a suitable time and place to elect officers, at which they may proceed to elect a President and two Directors, who shall hold their office one year, and until their successors are chosen and qualified; which choice shall be made annually, agreeably to the by-laws of said company; the number of Directors may be increased, and their salaries fixed at any annual election. Directors. SEC. 5. That the affairs and bussiness of the corporation shall President & be solely under the direction, supervision, and control of the President and Directors, and they are hereby fully authorized to do and transact the same, for, and on behalf of, said company all and whatsoever the said company is, by this act, authorized to do, Their powers transact, and perform; they shall, also, have power to make, ordain, and establish, such rules, ordinances, and by-laws as may be necessary for the government of the affairs and business of the company, not inconsistent with the constitution and laws of this Commonwealth, nor of the United States; they may adopt a seal for said company, and the same break, alter, and change at pleasure, declare dividends, fix the time and place to hold elections, and the meetings of the Directors. SEC. 6. That said corporation shall assume, pay, meet, and Liabilities of discharge, each and all the contracts, agreements, undertakings, the company & and liabilities, created, made, or entered into, by the said owntheir privileges. ers and proprietors of the said Franklin Mining and Smelting pay the corporate debts. Company, in relation to the business and property of the same, in the same manner that the present owners are liable to do; and the said corporation shall have and enjoy the full benefits, privileges, and advantages of any and all such contracts, agreements, and undertakings made by and with the said owners, and may enforce the performance thereof, for the benefit of said company, as fully as the said owners could or might do; and all obligations, in writing, given by the company, to which the laws of this Commonwealth does not require a seal, when signed by the President and Secretary of said company, shall be binding on the corporation; and on all deeds, or other instruments in writing, to which the law requires a seal, the seal of said corporation shall be made thereon, or fixed thereto, and signed by the Secretary. SEC. 7. That in all cases where an execution has been isLiability of sued against the goods and chattels, lands and tenements, of stockholders to said corporation, and returned endorsed that "no property can be found," or not a sufficiency of property belonging to the said corporation can be found to satisfy the judgment, on which said execution issued, then, and in that case, after scire facias, another execution may be issued and levied on the goods and chattels, lands, and tenements, of each or any stockholder or stockholders' of said company, to the full amount of stock he, she, or they may hold therein, or any who 1839 were stockholders at the time the liability, on which said judg ment was rendered, first accrued against said corporation. SEC. 8. That the capital stock of said corporation shall not Capital stock. exceed fifty thousand dollars, and shall be divided into shares of one hundred dollars each, which may be subscribed and paid for as provided by this act. Stock, how SEC. 9. That the President and Directors may call on the stockholders, by instalments, for the payment of the bal- paid for. ance due on the stock, upon reasonable notice, and open the books of the company for the sale of such portion of the stock, from time to time, as may remain untaken, if they think proper; and the stock of said company shall be transferable and assignable on the books of said corporation, in such manner as may be provided by the by-laws, and shall be held, in all respects, as personal estate. How trans ferable. Company Proviso. SEC. 10. That the said company may borrow money, for the purpose of carrying on business, buy produce or property may borrow mo on credit, and procure labor on such credit as may be agreed ney. upon: provided, always, that any person or persons who shall sell a written obligation, given by said company, or in any way pass the same, so that it falls into a third person's hands, shall be liable, on recourse, to pay the money to the holder or holders as individuals are liable in other cases. pany. SEC. 11. That it shall be lawful service of process to exe- Service of cute the writ of notice on the President, Secretary, or either process on comof the Directors, for the time being; and such service shall authorize judgment against the corporation in the same manner that judgments are taken against individuals on the execution of process. SEC. 12. That the stockholders may vote at their annual elections in person or by proxy, and shall have one vote for each share they may severally own at the time; a plurality of votes may elect; the President and one Director, or two Directors, may constitute a board to do business; and the board may fill vacancies in their own body until the annual election, and may require bond and security in such sum or sums as they may wish, of any person under their appointment, for the faithful performance of their several duties; they may call a meeting of the stockholders, of which they shall give due notice; they may keep an oflice to do business at each place of mining or smelting. Stockholders may vote in per son or by proxy Plurality of votes may elect Powers of the board. Quorum. Annual re dition of the SEC. 13. That said company, by their President and Directors, shall, on the first day of October, in each year, make port of the conout a full and fair statement of the affairs of the company, ex- company to be hibiting the aggregate amount of the debts due to and by it, made. and stating what portion of the debts due, or to become due to it, is considered by said President and Directors to be on men able to pay; what proportion of them is on men whose ability to pay is doubtful; and what portion is on men unable to pay; they shall, also, show the amount and character of the manufactures of the company, which shall be sworn to by 1389 said President, and deposited by him in the office of the Clerk of the Franklin County Court, where the same shall be by the Clerk safely preserved; and the President shall, also, place a copy thereof in the office of the Secretary of State, in which it shall be preserved by the Secretary. Approved January 28, 1839. CHAP. 1079.-AN ACT to change the time of holding the Carter and Pike Be it enacted by the General Assembly of the Commonwealth of Kentucky, That, hereafter, the County Courts for Carter county shall be held on the second Monday instead of the first Monday in every month, except the months in which Circuit Courts are held in said county; and the County Court of Pike county shall be held on the fourth Monday in every month; this act to be in force from and after the first day of March next. Approved January 28, 1839. CHAP. 1080. AN ACT to amend the charter of the city of Louisville. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That it shall be lawful for the Mayor and Council of the city of Louisville, to cause the city assessment of property for taxation to be made as of the tenth of January, in each year, instead of the first of March as now provided for. Approved January 28, 1839. Sale of a confirmed. CHAP. 1081.-AN ACT for the benefit of the heirs of John C. Self. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That it shall be lawful for the administrator of slave may be John C. Self to confirm the sale of a negro man slave, the property of said Self, which descended to his heirs, and which was sold by Franklin Bowles, who intermarried with the widow of the said Self, on account of the repeated attempts of the said slave to runaway, and for said administrator and Proceeds of said Bowles to invest the proceeds of the sale of said slave in sale, how to be vested. land, in the name of the children of said Self, in the State of 1839 Proviso. Missouri, at the Congress price; and when so invested, the said Bowles shall, in right of his wife, be entitled to the use of one third of said land, during the life of his wife: provided, that the administrator of the said Self shall take bond and surety from the said Bowles, so to invest the proceeds of the sale of said slave before he shall confirm the sale: and, provided Proviso. further, that the administrator shall be responsible, on his bond, should he take insufficient security of said Bowles. Approved January 28, 1839. CHAP. 1082.-AN ACT to legalize the proceeeings of the Court of Assessment of the 16th Regiment of Kentucky Militia. WHEREAS, it is represented to the present General Assembly, that the Court of Assessment for the sixteenth Regiment of Kentucky Militia, held their session on the first Monday in November last, instead of the time fixed by law, and. that the acts and proceedings of said Court at said session are void in law-wherefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky, That the acts and proceedings of said Court, at the said session in November last, shall be, and the same are hereby, declared valid in law, and shall have the same force and effect as if the same had been held at the time fixed by law. Approved January 28, 1839. CHAP. 1083.—AN ACT releasing James Squires from all liability, upon his bond executed to the Quartermaster General, for arms in the year 1833. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That James Squires be, and he is hereby, released from all liability upon his bond, executed to the Quartermaster General for arms, in the year eighteen hundred and thirty three. Approved January 28, 1839. CHAP. 1084.-AN ACT for the benefit of Harmon Hurst. Be it enacted by the General Assembly of the Commonwealth Register to of Kentucky, That so soon as a copy of an original survey for receive a copy three hundred acres of land, made on the eighteenth day of of survey, &e. 1839 Proviso. November, eighteen hundred and thirty six, in the name of Harmon Hurst, shall be filed with the Register of the Land Office, accompanied by the affidavit of said Harmon Hurst, that the original survey is lost, it shall be the duty of the Register to receive and file said copy of survey and affidavit, and to issue a patent thereon to the said Harmon Hurst, as though the original plat and certificate were filed: provided, however, that nothing herein contained shall be construed to affect any other valid or better claim to said land in law or equity. Approved January 28, 1839. CHAP. 1085.-AN ACT to authorize the Register of the Land Office to register certain plats and certificates of survey made in Warren county in 1838. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That the Register of the Land Office be, and he is hereby, authorized and required to receive into his office, and register, all surveys made in Warren county since the first of January, eighteen hundred and thirty eight, approved of by the County Court of said county, and recorded by the Clerk of said Court, and certified by him according to the provisions of an act to appropriate the vacant lands in this Commonwealth, north and east of the Tennessee river, to the counties in which they lie, for the purposes of internal improvement, approved February fourteenth, eighteen hundred and thirty five, on which surveys grants may issue according to the terms and provisions of the above recited act.. Approved January 28, 1839. CHAP. 1086. AN ACT for the benefit of Joseph Allen. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That it shall be lawful for the Auditor of PubAuditor to lic Accounts to issue to Joseph Allen, Clerk of the Breckinissue duplicate warrants. ridge Circuit Court, duplicate warrants for the sum of forty dollars, and one hundred and sixty eight dollars, dated December eighteenth, eighteen hundred and thirty seven, on the said Allen's filing with him an affidavit that he has not assigned said warrants, and that they are lost or mislaid, so that he cannot obtain the amount due on them from the Treasurer, Approved January 28, 1839. |