§ 5. The board of directors may employ such attorneys and agents to act for the association as, in their judgment, the business may require. 1873. Board may em ploy attorneys, &c. Powers and du § 6. The corporators above named shall open books for the subscription of stock, and whenever one hundred shares ties of corporators shall be subscribed said association may go into operation. Other shares may subsequently be subscribed, until the whole stock, two hundred thousand dollars, is taken; the subscribers thereto being required to pay the back installments, corresponding with the shares paid by the original subscribers, with interest at such rates, not exceeding ten per cent. per annum, as the association may prescribe in its by-laws 7. The board of directors shall be elected on the first Saturday in January, and hold their offices for one year, or until their successors are elected. In election for officers and transaction of other business each member present shall be entitled to one vote for each share owned. The board of directors shall elect one of their number president, and shall elect a treasurer, who shall give bond, with good and sufficient security, for the safe-keeping of the assets of the association, and a faithful discharge of the duties of his office. When elections to be held. § 8. The object of this association is to enable its mem- Object. bers, by their savings and accumulations, to acquire homes and other property; its business to buy and sell real estate, to loan its capital stock as paid in, and the accumulations thereof, preference being given in all cases to members of said association; said loans shall be made at such rate of interest, not exceeding ten per cent., as may be agreed by the parties thereto. The association shall have the right to insure the mortgaged property of the borrower for any space of time, not to exceed the time of payment of the loan, at the expense of the borrower; but the association may, if the board of directors think proper, invest a part of the funds in establishing and conducting manufacturing establishments in or near Owensboro. § 9. Said association shall have power to issue and sell May issue bonds. or hypothecate its bonds, with coupons attached, for any sum, not exceeding the sum of its capital stock paid up, and make the same payable at such time and place as may be deemed most advisable; but such bonds shall not bear a rate of interest exceeding ten per cent. per annum, to be paid annually or semi-annually, as the corporation may direct. § 10. As soon as practicable, after the association is ready to go into operation as provided in section six, the corporators shall call a meeting of the stockholders, giving reasonable notice of the time and place of such meeting, for the election of officers, who shall have authority to 1873. make and pass by-laws for the government of said association, not inconsistent with this charter nor the Constitution and laws of the United States or of the State of Kentucky. § 11. This act shall take effect from the date of its passage. Approved April 21, 1873. CHAPTER 953. AN ACT for the benefit of school district No. 29, in Washington county. WHEREAS, The school-house in district No. 29, in Washington county, has been burned, and the trustees have not been able to rebuild said house in time to teach a common school in the present school year ending June 30th, 1873; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the Superintendent of Public Instruction is hereby authorized to certify the amount due district No. 29, in Washington county, for the year ending June 30th, 1873, to the Auditor, who shall draw his warrant on the Treasurer in favor of the common school commissioner in payment of the same, which shall be collected, and paid for the tuition of the common school, upon the report of the trustees thereof. 2. That the trustees of said district shall have the time to teach a common school extended from June 30, 1873, to June 30, 1874. § 3. That this act shall take effect from its passage. Approved April 21, 1873. CHAPTER 954. AN ACT to amend an act, entitled "An act to incorporate the Louisville Be it enacted by the General Assembly of the Commonwealt of Kentucky: § 1. That the property of the Presbyterian Orphans' Home Society, of Louisville, incorporated by an act approved March 10th, 1870, be, and the same is hereby, exempt from taxation. § 2. This act shall take effect from its passage. Approved April 21, 1873. CHAPTER 955. AN ACT to repeal an act, entitled "An act to declare certain lakes and creeks in Ballard county navigable." Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That an act, entitled "An act to declare certain lakes and creeks in Ballard county navigable," approved the 31st [of] January, 1873, be, and the same is hereby, repealed. § 2. That this act shall take effect from and after its passage. 1873. Approved April 21, 1873. CHAPTER 957. AN ACT to incorporate the Minett Orphan Asylum of the city of Louisville. WHEREAS, By the will of Julius C. Minett, late of the State of New Jersey, which will has been ordered to record in the office of the Jefferson county court, there is the following devise, to-wit: "Ninth. It is my will, and I do give a certain parcel of real estate, containing about two acres, in the city of Louisville, Kentucky, it being the undivided one half of four acres now held by Israel B. Alford, of said city, and myself, to build an orphan asylum upon, to be under the control of the rector and church wardens of the various Protestant Episcopal Churches as a board of directors, and the bishop of the diocese as president, within the precinct of the said city. It is my will, and I do give, one thousand dollars towards a permanent fund for the endowment of said asylum: Provided, That, although under the control of only Episcopal, it shall be free to the orphans of all denominations and races of men;" now, therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That the Right Reverend Benjamin B. Smith, Bishop of the Protestant Episcopal Church in the diocese of Kentucky, James Craik, rector, and John M. Robinson and William Cornwall, wardens of Christ Church; E. T. Perkins, rector, and W. F. Bullock and R. A. Robinson, wardens of St. Paul's Church; Wm. C. Butler and Jas. P. Arnold and D. L. Miller, wardens of St. John's Church; Louis P. Tscheffelly, rector, and J. M. Bodine and Silas F. Miller, wardens of Grace Church; C. H. Shield, rector, and W. S. Parker and J. E. Hardy, wardens of St. Andrew's Church; W. H. Platt, rector, and Louis Tripp and James Bridgeford, wardens of Calvary Church; Robert M. Baker, rector, and Horace Gooch and Arthur Heder, wardens of Zion's Church; Joseph S. Malone, rector, and Wm. A. Corporators' names. 1873. Meriwether and Wm. McCready, wardens of Emanuel Church; Thomas G Porter, rector, and John W. Stine and Thomas J. Wyatt, wardens of Trinity Church; Louis P Tschiffelly, rector, and C. W. Parsons and J. H. Bunce, wardens of St. Peter's Church; J. N. Norton, rector, and N. B. Rodgers and H. Pickett, wardens of the Church of our Merciful Saviour; James Craik, rector, and Wm. Babb and Henry W. Barrett, wardens of the Church of the Advent, being the rectors and wardens of the various Protestant Episcopal Churches in the city of Louisville, and their successors in office, be, and they are hereby, declared a body-corporate, under the name and style of the president and directors of the Minett Orphan Asylum of the Name and style. city of Louisville; and by that name may take and hold to themselves and their successors in office the real estate and money devised as aforesaid, to be used and applied as required by the terms of said will. The said corporaCorporate tion may also take, by purchase or devise, and hold the same, as aforesaid, any other property or money for the purposes of said institution, the interest on which shall not exceed the sum of ten thousand dollars per annum. § 2. The Bishop of the Protestant Episcopal Church in the diocese of Kentucky, and the rectors and wardens for the time being of the several churches named in the first section of this act, shall always constitute the board of president and directors as provided therein. powers. Directors. mittee. § 3. It shall be competent for the said board to desigExecutive com- nate one rector or warden from each of the churches aforesaid, who shall constitute an executive committee, whose duty it shall be to administer the affairs of said asylum, and a majority of said committee shall be competent to do business. § 4. It shall be competent for the president and directors May make by to make such regulations and by-laws, from time to time, not inconsistent with this act, as to them may seem proper and necessary. laws. § 5. This act shall take effect from its passage. Approved April 21, 1873. CHAPTER 959. AN ACT to incorporate the Calhoun and Rockport Packet Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That there shall be, and hereby is, created a corpoName and style, ration, by the name of the "Calhoun and Rockport Packet Company," with a capital stock of twenty thousand dollars, which may be increased to an amount not exceeding and capital stock. fifty thousand dollars, to be divided into shares of twentyfive 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, and alter and 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. 1873. 2. That said corporation shall have power and right Corporate powto transport persons and property to and from the town of ers. Calhoun, on Green river, to the town of Rockport, or other points in the pool, between locks and dams numbers two and three, on Green river, and along such river and such other rivers as may be necessary in the efficient and successful carrying on of commerce and navigation 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, 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 carriers. §3. The property of said corporation, and the power to manage and control its business, shall be vested in a board of seven directors, to be elected by the stockholders at such time and place as the by-laws of said company shall direct; but said directors shall be elected annually, and shall hold their offices for one year, and until their successors are elected; in the election of the directors each share of stock shall entitle the holder to one vote, and the votes of the 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. Directors to control affairs. Commissioners' 4. That R. A. Robinson, J. D. Allen, John A. Carter, James Trabue, W. B. Rose, J. T. Jackson, Remus H. names and duties. Glover, W. H. Hilsman, J. W. Belt, J. W. Johnson, John Crow, J. M. Bickers, Henry Griffith, Thos. H. Frayser, Jos. Cunningham, Benj. Boyd, Cyrus Gates, and Isaac Lieber, are hereby appointed commissioners, any three or more of whom may act, to open books and receive subscriptions of stock in said corporation; and when not less than two hundred shares have been subscribed, the commissioners who have opened said books shall, by a written notice |