show what amount of stock is owned and held by each stockholder, and any stockholder may transfer upon the books of said company, such stock as he or she may own in said company, in such manner as shall be 'prescribed by the by-laws, rules and regulations of said company, and not otherwise. SEO. 15. Be it enacted, That the capital stock, property, and business of said company shall be managed by such officers, by-laws, rules and regulations, as shall from time to time be elected and enacted by said stockholders or their successors. SEC. 16. Be it enacted, That the members of said company shall have full power and authority to form and adopt such by-laws, rules and regulations for the government of the company, and to choose and appoint such offiders and agents for the transaction of the business of the company, as to them shall seem expedient; and such bylaws, rules and regulations shall have the force and effect of a legal enactment on the members of said company: Provided, such by-laws, rules and regulations do not conflict with the laws of the land. SEC. 17. Be it enacted, That the town of Russellville be, and the same is hereby incorporated. All the laws governing the corporation of Knoxville be, and the same shall govern the said corporation of Russellville. Said corporation to extend one quarter of a mile from the centre of said town, in a north and south direction, the centre or beginning point to be on Main street, at the mouth of the street leading to Cain's mills; and as far east as the forks of the road leading to Rogersville and Greenville; west one-fourth of a mile from said central point. SEC. 18. Be it enacted, That this act take effect from and after its passage. W. C. WHITTHORNE, Speaker of the Senate. Russellville in corporated. Passed, February 13, 1860. Middleton Male] and Female In stitute. CHAPTER 57. AN ACT to incorporate the Middleton Male and Female Institute; the Bethamy High School and the Union Academy; tht Riceville Academy; and the Woodlawn Male and Female Academy, and for other purposes. SECTION 1. Be it enacted by the General Assembly of the Trustees of New State of Tennessee, That N. Ward, John W. Bowen, Ira King, J. S. Gill, J. G. Bridges, J. H. Baird and P. Y. Davis, be, and they are hereby declared a body politic and corporate, by the name and style of Trustees of the New Middleton Male and Female Institute, at New Middleton, Smith county, Tennessee, and shall have succession for ninety-nine years, and a common seal; and they and their successors, by the name aforesaid, shall have, and they are hereby invested with all legal powers and capacities to buy,' receive, possess, hold, alien and dispose of any property for the use and benefit of said Institute; and may sue and be sued, commence and prosecute any legal process, and have the same instituted against them in any court of record in this State in the most ample manner. thany High School. SEC. 2. Be it further enacted, That the trustees aforesaid, shall have power to elect a president, secretary and treasurer, and to ordain regulations as they may deem proper, and to the best interests of the Institute, and whenever vacancies shall occur, by death, resignation or otherwise, to fill the same. SEC. 3. And be it further enacted, That in all meetings of the Board of Trustees, the president and two members shall constitute a quorum to do business, and they shall possess and exercise all other rights and privileges common to such corporations in this State. SEC. 4. Be it enacted, That Dr. Charles N. Ordway, Neill McCallum, Andrew M. Wilson, John C. Patterson, John Bass, George Bowers, Lawson Shewell and William E. Caldwell, and their successors in office as trustees, be, Trustees of Be and they are hereby incorporated under the name and style of Bethany High School, and by that name may sue and be sued, plead and be impleaded in any of the courts of law and equity, contract and be contracted with, pass all by-laws and ordinances, necessary for the proper control and government of said Institution, to employ instructors, superintendents, stewarts, agents, &c., and to have a common seal. SEC. 5. Be it further enacted, That the said Institution shall be governed by trustees, who, and their successors in office shall constitute a body politic and corporate, under the name aforesaid, a majority of whom shall constitute a quorum, for the transaction of business, and all vacancies that may occur in their body, shall be filled by the board, at such times and upon such terms as they may hereafter prescribe in their by-laws and ordinances; they may elect from their own body, a president, secretary and treasurer, as well as such other officers as they may think necessary, who shall hold their offices for the period of one year, and until the election and qualification of their successors. SE. 6. Be it further enacted, That said Board of Trustees shall have power to employ instructors, lecturers, seperintendents, fix the rules and terms of tuition, prescribe the course of study, make all necessary rules and regulations for the government of said Institution, and its property; hold real, personal or mixed property, by gift, purchase, devise or upon loan, and sell or exchange the same, as the interest of the Institution may require; to confer, upon general rules and regulations, to be by them adopted, such literary degrees and diplomas as are usual in academies and colleges; and have and enjoy all the powers and privileges that are incident or necessary to corporations of this description, not inconsistent with the laws of the land. SEC. 7. Be it enacted, That said board shall have power to receive subscriptions of stock in said Institution, in such sums and upon such terms as said trustees may prescribe, to create and sell scholarships, to create, raise and hold an endowment fund invested in such manner as they may direct, and the property and assets of the Institution shall be held, governed, and controlled, under such by-laws and ordinances as may from time to time, be enacted by said board. SEC. 8. Be it further enacted, That the signature of the president shall be sufficient to execute an order of the board, either for the conveyance or transfer of real or personal property, or choses in action, or to create a legal liability upon said board. SEC. 9. Be it further enacted, That there is hereby constituted a body politic, to be known by the name and style Union Academy. of the President and Trustees of Union Academy, and shall have succession for ninety-nine years, with full powers to sue and be sued, plead and be impleaded in the several courts of Tennessee. SEC. 10. Be it further enacted, That until others are elected or appointed by the trustees, the following shall be the trustees of said Institution, to wit: S. D. Stockton, President; Wm. P. O'Neil, Treasurer; R. J. Orr, Secretary; Trustees. J. W. Bell, J. R. Neal, J. Lenard, A. D. McAdams and, F. B. Woods, any five of whom shall constitute a quorum to all or any kind of business necessary or pertaining Riceville Acade. my. Ebenezer Male and Female Academy. to said Institution, and said Board of Trustees, a quorum thereof being present, may adopt such rules and regulations as may be deemed necessary for the government of the same. SEC. 11. Be it further enacted, That the president or such other person as may be by the trustees designated for such purposes, shall have power to confer degrees and grant diplomas, and shall have such other powers as are incident to the government of such institutions. SEC. 12. Be it further enacted, That W. S. Calloway, William B. Porter, Philip Owens, James Buckner, A. J. Dodson and James Atkins, be, and they are hereby constituted a body politte and corporate, by the name and style of the Trustees of Riceville Academy, located in the county of McMinn; the said trustees shall have succession for ninety-nine years, and shall have power so fill vacancies, which may occur by death, resignation or otherwise. SEC. 13. Be it further enacted, That said trustees and their successors in office shall be capable in law to receive, purahase and hold to themselves and their successors forever, any lands, tenements, goods and chattels, which may be given, granted, or devised to them for the use of said academy, and to use and dispose of the same, in such manner as to them seems most advantageous to said academy; and said trustees and their successors, by the name aforesaid, may sue and be sued, plead and be impleaded in any court of law or equity, in this State or elsewhere. SEC. 14. Be it further enacted, That said Board of Trustees may elect a president, secretary and treasurer, may select teachers and adopt a constiution and by-laws for the government of said academy, a majority of said board shall be a quorum for the transaction of any business. SEC. 15. Be it enacted, That Mitchell Trotter, N. C. Parish, M. McCauley, Abner Dickson, William C. Jackson, J. F. Waggoner and W. W. Mosslee, be and they are hereby appointed and constituted a body politic and corporate, by the name of Ebenezer Male and Female Academy and to have succession for ninety-nine years, in the county of Humphreys, and by that name may sue and be sued, may plead and be impleaded, may have and use a common seal, shall have, hold and acquire real and personal property of any kind or description, as far as the same may be necessary for the use and benefit of said academy, and shall have, exercise and enjoy all such rights and privileges as are usually possessed and exercised by the trustees of any incorporated academy, and may ask, demand and sue for, and receive any moneys which may be due said academy by donation or otherwise, and for the same may grant all pro per discharges and acquittances by the signature of the president, attested by the treasurer with the common seal attached. SEC. 16. Be it enacted, That so soon as the persons named in the first section of this act shall have organized said academy, they shall proceed to hold an election for five trustees, first giving ten days' notice of the time and place of holding said election; said trustees when elected, shall hold their office during the term of two years, and until their successors are elected and qualified. SEC. 17. Be it enacted, That the stock of said academy be divided into shares of twenty-five dollars each, and Capital stock. that twenty-five dollars be one share. SEC. 18. Be it enacted, That each person who has or may have contributed to the erection, support and maintenance of said academy, by giving to the same, land, labor, money or other donation to the amount of twenty-five dollars, shall be entitled to vote for trustees of said academy, and that each stockholder shall be entitled to as many votes as he may hold shares in said academy. SEC. 19. Be it enacted, That said trustees when elected, shall organize themselves into a board by electing one of their number president, and appointing a treasurer; any three trustees shall constitute a quorum to do business; such board shall have power to fill such vacancies as may occur during the time for which they are elected, whether the vacancies occur by death, resignation, removal or otherwise. SEC. 20. Be it enacted, That such Board of Trustees may make such rules and regulations as they may deem expedient, necessary and proper for the government of said academy, not inconsistent with the laws of this State. SEC. 21. Be it enacted, That the trustees may meet as often as they may deem necessary, and that the officers, professors and teachers, shall, with the advice and consent of the trustees, confer on any student in the Institution, proper person or persons, any degrees or honors, known and conferred in like institutions. demy. SEC. 22. Be it enacted, That Calvin A. Reynolds, Nicholas C. Buford, John P. Williams, Franklin, Woodlawn Male J. P. Gracy, Stephen C. Williams, Simpson A. Patterson, and Female AcaGrandison Pettard, William J. Cragg, D. F. Johnson and their successors in office be, and they are hereby created a body politic and corporate, under the name and style of Woodlawn Male and Female Academy; and under that name may sue and be sued, plead and be impleaded, contract and be contracted with, and have, enjoy and use all 1 |