1873. Capital stock. trol affairs. lease a suitable building, and acquire by purchase a sufficient amount of real estate as shall be necessary to successfully carry on the legitimate business for which said company shall be organized, and to sell and dispose of the same. §3. The capital stock of said company shall be ten thousand dollars, divided into shares of fifty dollars each, and may be subscribed, paid for, and transferred and forfeited for non-payment, in such manner as the said company or its board of managers may, by resolution or by laws, prescribe and determine; when two thousand dollars of stock shall be subscribed, and one thousand dollars paid in, the said company may organize and proceed to business; but no certificate of stock shall be issued until the same shall have been subscribed on books provided for that purpose, and actually paid in; the capital stock may be increased, from time to time, to an aggregate amount not to exceed fifteen thousand dollars, by the consent of a majority in interest of the stockholders; each share of stock shall be entitled to one vote, and may be voted by proxy. § 4. Said company shall have power to manage and Directors to con- control its business by a board of directors or managers, to consist of not more than five or less than three, to be determined by the stockholders, to be elected by them at the principal office of the company at such time, and in such manner, and for such terms, and with such powers, as the said stockholders shall, from time to time, determine; a president elected by the board of directors, and a majority of directors, shall constitute a quorum; and should the president not attend, a majority of stockholders in interest, or a majority of directors, may constitute a quorum: Provided, Three days' written notice shall have been given; said company may, from time to time, as it may deem proper, make and pay and declare dividends or profits, and distribute net receipts, proceeds of sale, or property of the company, among the stockholders pro rata, according to the amount of stock held by each. No individual liability of stock holders. Principal officewhere located. § 5. The stockholders shall not be individually liable for contracts, liabilities, and debts of said company; but the stock, privileges, rights, and properties held and owned by the company shall be liable therefor. § 6. The principal office of said company shall be in the city of Frankfort, but may be removed to any other county in the State by consent in writing of a majority of stockholders in interest. § 7. Said company shall, on or before the 31st day of Company to December in each year, report to the Auditor of Public Accounts of this State a statement of its business transactions and the value of its property; but shall not be make report to Auditor. required to report to any other officer of this State; but the Auditor shall have the power to require at any time a full and detailed statement of its property and transactions. 1873. Approved April 11, 1873. CHAPTER 770. AN ACT to authorize Mary Boyd to erect cattle-stops across John's creek, in Pike county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That Mary Boyd may construct cattle-stops across John's creek, in Pike county. The cattle-stops aforesaid shall be so constructed that when said creek rises to a navigable stage of water, one end of them will float around out of the way of the navigation of said creek and not obstruct it; they shall not exceed three in number, and must be upon the land now occupied by her. § 2. This act shall take effect from its passage. Approved April 11, 1873. CHAPTER 773. AN ACT to incorporate the Ohio and Red River Packet Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: and capital stock. § 1. That there shall be, and is hereby, created a corpo- Name and style ration, by the name of "The Ohio and Red River Packet Company," with a capital stock of one hundred thousand dollars, to be divided into shares of one hundred dollars each; which corporation shall have perpetual succession, and by its corporate name may sue and be sued, plead and be impleaded, answer and defend, in all courts and places, as a natural person; may have and use a common seal, ers. and alter or renew the same at pleasure; and may make and establish by-laws, rules and regulations, for the efficient conduct of its business, and exercise all and any of the powers of a corporation necessary or proper to carry out the true intent and purpose of its creation. Corporate pow § 2. That said corporation shall have power and right Object and po to transport persons and property to and from the State ers. of Kentucky, along the Ohio, Mississippi, and Red rivers, to the head of navigation, or other point on said rivers, and along such other rivers as may be necessary in the efficient and successful carrying on of commerce and navVOL. II-LOC. L.-19 1873. control affairs. igation on said rivers; and may own, buy, construct, repair, charter, hire, sell, and convey steamboats, flats, keels, and other water craft, with all equipments, appendages, and other personal property; and may also acquire, by lease or in fee, any necessary landings, wharves, or other real estate for the purposes of the corporation in its business, and sell and convey the same at pleasure; and do generally whatever is necessary to make efficient the said business of commerce and navigation on said rivers, and may make contracts with shippers to limit or fix its liability as common carrier. §3. The property of said corporation, and the power to Directors to manage and control its business, shall be vested in a board of nine directors, to be elected by the stockholders on the first Monday in May of each year, after the present year (1873), each share entitling the holder to one vote; and the votes of stockholders may be cast by themselves in person or by proxy, under such regulations, after the first election, as may be prescribed by the by-laws. names, powers, & duties. 4. That James L Haven, W. C. Hamilton, P. P. Lane, Commissioners' H. B. Mudge, Joseph Kinney, Joseph L. Hall, H. Hollister, Fred. F. Brooks, and James M. Chenoweth, are hereby appointed commissioners, who, or a majority of whom, to open books and receive subscriptions of stock in said corporation; and when not less than four hundred shares are taken, and twenty-five dollars on each share so subscribed for paid in cash to said commissioners, they shall, by advertisement for at least fourteen days in one of the daily or weekly papers published in Covington and Newport, call a meeting of the stockholders in Covington to elect a board of directors; and the votes of the stockholders may be given in person or by written proxy; and the nine persons receiving the largest number of votes shall be delared directors, and hold their offices until their successors shall have been duly elected and qualified. other officers, fix take bonds. § 5. After each election of directors, those elected shall Directors to elect choose one of their own number as president of the board, compensation, & Who shall preside at director's meetings, and be the chief officer of the corporation; they shall also appoint all other necessary officers and provide for their compensation, and take all necessary bonds from officers of trust to insure a faithful discharge of their duties. 6. No person shall at any time be voted for or appointQualifications ed a director who is not at the time a stockholder in said of directors-how vacancies to be corporation; and vacancies, by death or resignation, in the board between annual elections shall be filled by the board, or a quorum thereof; and a majority of the board in office shall at all times be a quorum for business. filled. Board to make calls on stock and receive new sub scriptions. § 7. The said board shall demand payment of stock subscribed for in such installments and at such times as they may deem expedient; and if all the stock is not subscribed for before their election, they and their successors may open or keep open the books for subscriptions of stock, or may sell that not subscribed for, for the benefit of the corporation, at not less than par; and may, by rules and by-laws, provide for the forfeiture to the company of any share or shares of stock subscribed for and not fully paid for when required; and may provide for the mode of transferring certificates of stock, which shall be deemed as personal estate and pass as such. § 8. This act shall take effect from and after its passage. 1873. Approved April 11, 1873. CHAPTER 774. AN ACT to amend an act, entitled "An act to incorporate the Deposit Bank of Henderson." Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That section three of an act to incorporate the Deposit Bank of Henderson be so amended that the names of William B. Woodruff, George M. Priest, and John C. Stapp be stricken out, and that the names of James F. Clay, Malcolm Yeaman, and Wm. S. Elam be inserted in lieu thereof; and these last shall be appointed commissioners to act under said section and act, in conjunction with those whose names have not been stricken out. § 2. This act to take effect from and after its passage. Approved April 11, 1873. CHAPTER 775. AN ACT to incorporate the Grand Division of Sons of Temperance. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the present members and officers of the Grand Division of Sons of Temperance, of West Kentucky, in the town of Murray, in Calloway county, be, and are hereby, created a body-politic and corporate, by the name Name and style. of the "Grand Division of Sons of Temperance of Kentucky;" and by that name shall have perpetual succession; and be capable of making contracts, suing and ers. being sued, in any of the courts of this Commonwealth; of acquiring real and personal estate, and holding, using, and disposing of the same, by deed or otherwise, as a natural person, except by will or devise. Corporate pow. 1873. May make bylaws, &c. ters for subordinate lodges. §2. That said officers and members shall have the power to make by-laws, rules and regulations, for the government of said Grand Division, and such subordinate Divisions as may now exist under and by virtue of its charters, on permission, and that may hereafter be chartered and authorized to exist in this State under its charters granted by it. §3. Said Grand Division shall have the exclusive power May grant char to grant charter, and authority for the creation and establishment of such subordinate Divisions of Sons of Temperance in this State as it may deem proper, and under such regulations and conditions as may not conflict with the laws of this Commonwealth; and all charters heretofore issued by said Grand Division to subordinate Divisions are hereby legalized, together with all of its acts and by-laws heretofore made, which do not conflict with the laws and Constitutions of this State and the United States. To have seal. bank. § 4. Said Grand Division shall have and use a seal; and shall also have the right to organize the Deposit Bank of Murray, incorporated by the General Assembly of this Commonwealth, under the following title, viz: “An act May organize to incorporate the Deposit Bank of Murray," and approved March 16th, 1869, in which bank the said Grand Division, or any subordinate Division, or any member of either of them, may take and subscribe to such shares of stock as they may see proper; and make deposits, either with or without interest, as the officers or managers of said bank may prescribe by by-laws, or be agreed on between the parties; and after the organization of said bank, it may be used as a savings bank by the members of said Grand and subordinate Divisions, and establish branches at any city or town in this State, and may be managed for the benefit of said members, or their wives, widows, or children, under such by-laws and regulations as may be established by a majority in interest of the shareholders thereof; and the said act of incorporation of said bank is made a part of this act. § 5. This act to take effect from its passage. Approved April 11, 1873. CHAPTER 776. AN ACT to incorporate the Christian Church at Warsaw. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That Robert Payne, H. P. Clore, John J. Landram, Trustees' names. the present trustees of the Christian Church at Warsaw, Kentucky, and their successors in office, and the officers |