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vested in real estate, exclusive of buildings thereon, shall at no time exceed ten thousand dollars.

§ 2. That the management of the concerns of said chapter shall be and is hereby confided to C. D. Bradley, H. P., R. K. Tyler, K, and James E. Thompson, S., and their successors in office, as trustees thereof, who, or a majority of whom, shall have full power to make all contracts pertaining to the real and personal estate, in any respect, either in purchasing, building, renting, selling, or for any other purpose, which shall be binding and obligatory upon said chapter, when made in pursuance of the rules, bylaws, and instructions of said chapter; and service of process on any of said trustees shall be sufficient notice to said corporation.

3. That said chapter may at any time pass such bylaws, rules, and regulations, not inconsistent with the con=stitution and laws of this state, as may be necessary for the protection, management, and safe keeping of the property of said chapter.

The general assembly reserves the right to change, alter, or amend this act at pleasure.

Approved February 18, 1854.

1854.

Trustees, their duties.

May make by. laws, &c.

CHAPTER 247.

AN ACT to incorporate the Mutual Assistance Society of the city of Louisville.

and powers.

§1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That Favra Humbert, Constant S. Sueur, Francis Pasquier, A. J. H. Bernal, Ernst Sleischer, Jean Pierre Simon, and J. A. Brisvalder, their associates and successors, shall be and they are hereby constituted a body politic and corporate, to be known by the name and Corporate name style of the "Societe de Secours Mutuel," or "Mutual As sistance Society," of Louisville; and by that name shall have perpetual succession, and shall have power to make a common seal, and to alter, change, and break the same at pleasure; may contract and be contracted with, sue and be sued, plead and be impleaded in any court in this commonwealth having jurisdiction of like sums; and shall have power to take and hold, for benevolent and charitable purposes, by gift, grant, or devise, any estate, real, personal, or mixed, not exceeding in value twenty thousand dollars; and said society, a majority of its members concurring, shall have power to sell, exchange, and convey said estate, or any part thereof, for the use and benefit of said society.

Election of officers and direc

§ 2. That the "Mutual Assistance Society" may elect, at tora. such times as they may deem proper, a president, vice president, treasurer, secretary, three directors, and such other officers as they may think fit to appoint or elect, who

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shall enter upon the duties of their respective offices at such time and in such manner as may be prescribed by their constitution and by-laws.

§3. That the Mutual Assistance Society shall have pow er and authority to ordain and establish such constitution, rules, and by-laws for their government, as are not inconsistent with the constitution and laws of this commonwealth, or the ordinances of the city of Louisville, as they may think proper.

§4. That the president, vice president, and directors of the Mutual Assistance Society, for the time being, and their successors, shall take and hold the estate and funds of the society, and in law shall be considered the corporators; and in all suits against the corporation, service of process upon any two of them shall be good.

§ 5. That the legislature reserves the right to alter, change, or amend this charter.

Approved February 18, 1854.

Corporators'

porate powera.

CHAPTER 248.

AN ACT to incorporate the Maysville Coal Company.

1. Be it enacted by the General Assembly of the Commonnames, and cor. wealth of Kentucky, That Henry Waller, John M. Duke, and John P. Dobyns, their associates, successors, and assigns, be and they are hereby constituted a body corporate and politic, by the name and style of the "Maysville Coal Company," in perpetual succession, 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 and other minerals, and in the purchase, sale, and transportation thereof; and they are hereby vested with all powers needful for the successful proseat any time, and cution of their business aforesaid. The said corporators shall have power to organize, at any time, said company by the appointment of a president and such other officers and agents as they may deem necessary. And when or ganized, the said corporators, or the officers then chosen, shall have power to make such by-laws, rules, and regulations as may be deemed necessary from time to time for the prosecution of the business, and the government and management of said company, not inconsistent with the constitution and laws of this state and of the United States.

May organize

how.

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§ 2. The capital stock of said company shall be one hundred thousand dollars, with power to increase the same to three hundred thousand dollars.

§ 3. The said company may receive real estate in payment of such part of the subscription as they may deem advisable; and shall have the right, by purchase or other wise, to hold such real estate, mining rights, and rights of

1854.

May purchase

hold estate.

way, as may be thought proper by them for the successful prosecution of their business; and the same or any part thereof to sell or otherwise dispose of as the interests of right of way and the company may require. They may also build and own roads or boats for the carrying on their business; and may dispose of their property or any portion of it by sale or otherwise.

May borrow money & pledge

§ 4. The said company may at any time borrow or obtain on loan such sums of money as may be deemed expe- property. dient, and to pledge or mortgage any or all of the estate, property, privileges, and assets of the said company for the security of such loans.

May exercise like powers as

tions.

§ 5. The said company shall have, possess, and enjoy all the powers, rights, privileges, and immunities hereto- ther fore conferred by law in this state, upon any other company chartered for similar purposes: Provided, this act shall not be so construed as to infringe any of the rights or privileges of any other incorporated coal company in this

state.

Approved February 18, 1854.

corpora.

CHAPTER 249.

Corporators' names, and cor.

AN ACT to incorporate the Ohio and Tradewater Coal Company. § 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That George Trapnall, William V. porate powers. Trapnall, Benj. C. Trapnall, and Philip Trapnall, their associates, successors, and assigns, be and they are hereby constituted a body corporate and politic, by the name, style and title of the Ohio and Tradewater Coal 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, salt, and other minerals, and in the manufacture and sale of salt, iron, lime, and other products of land now owned or hereafter to be owned by them; and in the transportation of the same, or any of them, to home and foreign markets; to hold their meetings within and without the state of Kentucky, and to have all powers needful for the successful prosecution of their business, and for the execution of the powers herein granted.

May appoint officers and a.

§ 2. That said George Trapnall, William V. Trapnall, Benj. C. Trapnall, and Philip Trapnall, shall have power gents. to organize said company by the appointment of a president and such other officers and inanagers as they may deem necessary, at such time as they may designate, by notice previously given; and when thus organized, they

and their successors shall have power to make such by- Make by-laws, laws, rules, and regulations as they may deem necessary

1854.

Capital stock.

May buy and

build boats. Re

ceive real es

tate.

from time to time, for the government and management and the prosecution of the business of said company, not inconsistent with the constitution and laws of this state and of the United States.

§ 3. The capital stock of said company shall be three hundred thousand dollars, with power from time to time to increase the same to any sum not exceeding one million of dollars.

§ 4. The said company may buy, build, and own boats for the carrying on their business, and may dispose of their property, or any 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, to sell or otherwise dispose of as the interests of the company may require.

5. That it shall be lawful for the president and manaMay borrow gers of said company, from time to time and at all times, money & pledge to borrow or obtain on loans such sums of money and on

property.

same powers as other like corpo rations.

'such terms as they may deem expedient, and to pledge or mortgage all or any part of the estates, improvements, privileges, effects, and assets whatsoever of the said company for the payment of said sums of money so borrowed, at such times as may be agreed on.

§ 6. That said company shall have, possess, and enjoy May exercise all the powers, rights, privileges, and immunities, not inconsistent with the rights of others, heretofore conferred by law in this state upon any other company chartered for similar purposes, and have effect from its passage. Approved February 18, 1854.

Corporate name and powers.

CHAPTER 250.

AN ACT to incorporate the Louisville Tobacco and Cotton Warehouse
Company.

§ 1. Be it enacted by the General Assembly of the Common wealth of Kentucky, That H. T. Curd, W. Watkins, J. Peterson, F. S. J. Ronald, A. Graham, W. Musselman, R. Beaty, M. Cotter, J. A. Dunlap, and Isham Henderson, and their associates, are created a body politic and corpor ate, under the name and style of the Louisville Tobacco and Cotton Warehouse Company; and by that name and style shall have perpetual succession, and contract and be contracted with, sue and be sued, plead and be impleaded, answer and be answered, in any court of law or equity in this state, with power to acquire, by purchase or otherwise, hold, possess, use, occupy, and enjoy, and the same to sell. rent, lease, convey, and dispose of, manage and control all

such real and personal estate as shall be necessary and convenient for establishing and maintaining a warehouse in the city of Louisville, to be called "the Louisville Tobacco and Cotton Warehouse Company," for storing, inspecting and selling at public auction, or at private sale, leaf tobacco and cotton in bales and bags; and for storing and selling at private or public sale other articles of commerce, trade, and manufacture; and may have a common seal and the same change as may be expedient.

1854.

How to be

Election directors.

§2. That the capital stock of said company shall be one Capital stock. hundred thousand dollars, divided into shares of one hundred dollars each; and books for the subscription of stock shall be opened by H. T. Curd, F. S. J. Ronald, and W. taken. Musselman, or any two of them, in the city of Louisville, and at such other places as they shall direct, at such time or times as they shall fix upon; and after the subscriptions are closed, they shall deliver the subscription books over to the first board of directors, as soon as said board shall be elected and organized. They shall call a meeting of the stockholders in said company at some convenient time and place in the city of Louisville, within twenty days after the stock is subscribed as provided in this act, and shall give public notice of the said stockholders' meeting for at least ten days, in at least two of the public daily newspapers printed in said city; and if a majority of the stockholders, or persons who are subscribers for a larger portion of said stock, shall be present, or represented by proxy at said meeting, the said Curd, Ronald, and Musselman, or a majority of them, shall cause an election by said stockholders of a president and six directors of said company, who shall be stockholders and residents of the city of Louisville. The president and directors shall be annually elected, after the first election; at such time and place as shall be designated by the by-laws; and in the event of a vacancy in the office of president or director from any cause, the board of directors, or directors remaining in office, shall supply said vacancy by the appointment of a stockholder until the next annual election by the stockholders. The president and directors shall hold their office for one year, and until their successors are elected. The president shall preside at the meetings of the board of directors, and of the stockholders; decide points of or- ident. der, and may call meetings of the board of directors, and of the stockholders, at such times and places as he may consider necessary for the interest of said company. There shall be stated meetings of the president and directors at such times and places as shall be named in the bylaws. The president and directors shall keep a record of their proceedings in a book to be kept for that purpose, which shall be opened to the inspection of any stockholder or his representative. The president shall execute all con- And directors. tracts made by the board of president and directors; but

of

Duties of pres.

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