§ 10. The stock of said bank shall be deemed personalty, and shall be transferable only on the books of the company.

§ 11. It shall be lawful for said bank to receive on deposit any sum not less than one dollar; and minors and * married women may deposit therein in their own names, I and check therefrom in their own names, unless restrained by some competent tribunal.

1873.

Stock to be per

sonal property.

May receive deposits of minors

and femes covert.

§ 12. It shall be the duty of the president of said bank to State taxation. pay into the treasury of this Commonwealth, on the first of January of each year, the sum of fifty cents on each one hundred dollars of its cash paid-up capital, which shall be in lieu of all other tax or bonus, and be a part of the revenue proper of this Commonwealth.

report.

§ 13. A statement of the affairs of said bank shall be Officers to make made by the cashier under oath, for the inspection of stockholders and depositors, on the first Monday of January in each year, and published in some newspaper of general circulation published in the city of Louisville; and said company may, through its president and directors, declare a dividend of such proportion of its profits as it may deem proper; but in no event shall its capital stock be diminished.

in officers.

§ 14. If any officer of this corporation shall unlawfully Penalty for fraud appropriate any funds of said corporation to his own use, or shall willfully fail to make correct entries in the books or accounts thereof, or shall knowingly make false ones, with intent to cheat or defraud said corporation or any person, or to conceal any improper appropriation of its funds, the officer so offending shall be deemed guilty of felony, and upon conviction thereof shall be sentenced to imprisonment in the penitentiary for a period of not less than three nor more than five years.

§ 15. No certificate of stock shall be issued by said corporation unless the same shall have been subscribed for on books provided for that purpose, and actually paid in. 16. The indebtedness of said corporation, over and above that incurred for deposits, shall at no time exceed its cash paid-in capital.

§17. The right is hereby reserved to investigate into the management and affairs of said corporation, by any committee or person appointed by the Legislature for that purpose; also, to alter, modify, amend, or repeal this act at pleasure.

17. This act shall take effect and be in force from its passage, provided said corporation is organized in one year from its passage; and if not so organized within that time, this act shall be null and void.

Approved April 22, 1873.

Stock to be paid

in before certifi

cate to issue.

1873.

CHAPTER 1013.

schools established.

AN ACT to charter the public schools of Falmouth and district No. 1, in
Pendleton county.

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

§ 1. The town of Falmouth and district No. 1, adjacent System of public thereto, is hereby authorized and directed to establish, support, and maintain a system of public schools in said town and district adequate to the teaching of all children applying for instruction therein.

§2. The said schools shall be under the control of a When trustees to board of three trustees, to be elected annually by the qual ified white voters in said district under the common school laws of Kentucky, on the first Saturday in April.

be elected.

§ 3. The said trustees under this charter are hereby emTrustees to powered to provide for the erection of as many schoolprovide schoolhouses. houses, and the maintenance of as many schools, as may be necessary to afford to the white children in said district the advantages of a common school education.

ers.

§ 4. The said board shall be, and is hereby, created a Name and style. body-corporate and politic, with perpetual succession, by the name and style of the School Board of the Town of Corporate pow- Falmouth; and in that name may contract and be contracted with, sue and be sued, in all courts and places whatsoever; may have and use a corporate seal; and the said corporation shall have full power and exclusive control of all the school property and school money and funds now belonging, or that may hereafter in anywise come to, belong, or appertain to the common school fund or to the public schools aforesaid; and all the property of every description that may at any time be owned by said corporation, and all the funds or means that may at any time come under the control of the same, are hereby forever dedicated to the purposes of said schools; and the title to all the property, real and personal, and the property itself, known and used as public school property, are hereby Property ex- vested in said corporation; and the same shall remain forever free from all debt or liability of said town, and free from either city or State taxes, together with all property that may be hereafter acquired by said corporation.

empted from tax

es.

school term, ex

§ 5. The said board shall fix, by ordinance, the comTrustees to fix mencement and termination of the current year for said aminations, &c. schools, and shall appoint from their own body a committee, whose duty it shall be, from time to time, to visit said schools and attend all examinations thereof, which examinations shall take place at the close of the current

year.

§ 6. The said board shall appoint a board of examiners, Board to appoint not of their own number, to examine teachers applying to be employed in said schools, who shall accurately report

examiners.

their qualifications for teaching and degrees of scholarship, without favor, affection, or partiality.

1873.

$7. The said board shall have power to employ teachers, Board to employ fix their compensation, remove them for good cause; pro- and pay teachers, vide for, regulate, and manage the schools; appropriate money to defray the expenses of the same from the school funds; and two thirds of the members shall be a quorum for the transaction of all business, except the election of a teacher and the appropriation of money, which shall require the unanimous vote of the board.

officers and pre

8. The said board shall annually appoint a clerk, col- Board to appoint lector, and treasurer, and shall have full power to pre-scribe duties. scribe and regulate their duties for carrying into effect the provisions of this charter.

§ 9. The said board shall have for the funds for the sup- School fundssport of said schools the amount of the common school how raised. fund due said district annually from the State, as provided for in the common school law, a capitation tax not to exceed one dollar on each tithe, together with a sum to be raised by the taxation of all the taxable property in the said district, and this shall be sufficient only to meet the current expenses of the said schools, to be levied and collected annually by the said board, and such other sources as the board may devise, shall be, and are hereby, irrevocably set apart and dedicated for school purposes; and the treasurer shall keep a separate account of all the school funds, from all sources derived, and only pay it out upon the order of the said board.

10. The said schools shall be under the control, and subject to the provisions of the common school laws of Kentucky, except wherein they conflict with this charter.

ize departments

§ 11. The said board shall have power to organize the Board to orgen. said school into three departments, and the primary and in- in schools, & fix termediate departments shall include all branches required studies. to be taught by the common school laws of Kentucky. In the high school department shall be taught the languages, and such other branches of a liberal education as may be prescribed by the board, and all pupils attending said department shall be required to pay a tuition fee, the amount of said fee to be fixed by the board; and it is expressly provided in this bill that no part of the common school fund derived from the State, nor that derived from taxation of the property in said district, nor that derived from the capitation tax, shall be used in maintaining the high school department of said schools.

and franchises to

12. The trustees of the common school district No. 1, Certain property and also the trustees of Pendleton Academy, are hereby be transferred to authorized to transfer and deliver to the trustees created trustees. by this act all property, real, personal, or mixed, in their possession as such, and belonging to said district No. 1,

1873.

or to the Pendleton Academy, to be used by this board for the benefit of the schools organized under this act.

13. This act shall be submitted to the qualified white Act to be sub- voters under the common school laws of Kentucky, in mitted to people. the boundary of district No. 1, on the first Saturday in June next, 1873, and if ratified by a majority of the qual ified white voters of said district, shall go into effect at the beginning of the next school year, the first day of July next; and the trustees elected at said election shall continue in office under this charter until the next regular election.

§ 14. This act to take effect and be in force from its passage.

Approved April 22, 1873.

may establish graded schools & studies.

CHAPTER 1014.

AN ACT for the benefit of common school district No. 1, in the county of Jessamine.

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

§ 1. That in addition to primary school provided for by Nicholasville an act to revise, amend, and to reduce into one the laws relating to common schools in Kentucky, approved March 21st, 1870; also an act to amend an act to revise, amend, and to reduce into one the laws relating to common schools of Kentucky, approved March 13th, 1871; also an act to allow common school districts to levy a district school tax, approved March 2d, 1865; and also an act for the benefit of common schools in Jessamine county, approved Feb

Boundary.

the

ruary 28th, 1873, the trustees of district No. 1, Jessamine county, embracing the town of Nicholasville, may establish graded schools, constituted of primary, intermediate, or high school departments; the primary school, as provided for as above, shall be the primary department; intermediate department shall embrace a more advanced course of study, which shall include mental and practical arithmetic, geography, English grammar, composition, penmanship and book-keeping, history, and Constitution of

the United States, besides such other branches

as trustees

or the State Board of Education may recommend or select. The high school department shall embrace the highest course of studies prescribed and allowed in the public free schools, and shall include natural philosop hy, physiology, algebra, geometry, rhetoric, logic, mental and moral phi losophy, besides such other branches as may be selected

as above.

§ 2. That said district shall be, as near as

practical, not

less than four miles square and not more than five; and

that the commissioner of common schools in said county may alter and change districts affected by the enlargement of district No.1 at any time before reporting his

census.

1873.

be examined before

§3. That no teacher shall be employed by the trustees Teachers to until first examined by the board of examiners for the appointment. county, and certified as to his or her qualification to teach

in the department proposed.

act as treasurer.

§ 4. That the commissioner shall act as treasurer, and Commissioner to disburse the money received by him from the sheriff, collected from the taxable property of said district, and the capitation tax, as provided in the act for the benefit of common schools in Jessamine county, approved February 28th, 1873, upon the order of the trustees, to pay for building, repairing school-houses, and salaries of teachers, and for any purchase of academies and grounds, or other educational institutions, or any interests in the same.

ceive donations.

5. That the trustees of said district No. 1 shall have Trustees may repower to lease, purchase, or receive as a donation, any real or personal estate from individuals, academies, or other institutions of learning, for the benefit of a graded school in said district.

§ 6. This act shall be in effect from its passage.

Approved April 22, 1873.

CHAPTER 1015.

AN ACT to incorporate the Eastern Kentucky Coal, Iron, Lumber, Land, and Manufacturing Company.

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

Corporators'

1. That George B. McClellan, P. H. Watson, John G. Carlisle, John W. Stevenson, Robt. T. Davis, B. J. Peters, names. Charleton Alexander, Thomas Turner, John Jay Anderson, Wm. Hoffman, William Mitchell, John Jay Cornelison, P. A. Howard, J. S. Pittman, E. F. Clay, James Turley, Joseph T. Tucker, Buckner Woodford, Amos Shinkle, E. E. Garrett, Wm. Earnst, and George H. Pendleton, or such of them as will act, and their associates, successors, and assigns, are hereby created a corporation and bodypolitic, under the name and style of the Eastern Kentucky Name and style. Coal, Iron, Lumber, Land, and Manufacturing Company; and by that name shall have perpetual succession, with power to contract and be contracted with, sue and be sued, in all courts and places, and have and use a common seal and alter the same at pleasure, and to make all necessary by-laws and regulations for the government of said company and the conduct of its business, not inconsistent with the Constitutions of Kentucky and the United States, or the laws made in pursuance thereof.