$23. That if the whole one thousand shares of capital stock shall not be taken when the books shall first be opened, the president and directors may cause the books to be opened at any time and place they may direct, giving thirty days' notice thereof in some newspaper, and cause them to be kept open not less than ten days, or until the whole of the balance of the stock shall have been taken; and the president and directors may require such premium on the stock sold at the re-opening of the books as they shall deem right; and such premium shall be the property of the institution.

ed.

When direct

$24. That when not less than five hundred shares of the capital stock shall have been taken, and the commis- ors may be elect sioners shall have closed the books, it shall be their duty to give notice in some newspaper, and appoint a day in Maysville for the election of the first board of directors, who shall hold their offices until the succeeding annual election; and not less than thirty nor more than sixty days' notice shall be given of the time and place of electing said board; and at least three of said commissioners shall act as inspectors of said election, and shall take the proper oath and perform all the duties of inspectors of elections in like cases.

How stock

§ 25. That the payment of the shares of the capital stock held by individuals, companies, and corporations, shall be paid. shall be made in gold and silver, or notes of either of the banks or branch banks in this state, and at the times and in the manner following, viz: five dollars on each share, to the commissioners at the time of subscribing, and five dollars on each share, within ten days after the election of the first board of directors, and five dollars every sixty days thereafter, until the whole amount of said stock is paid: Provided, that the board shall have power to prolong the time for the payment of each instalment after one-half of the amount of each share shall have been paid.

§ 26. That should any of the subscribers to the stock of said institution fail or refuse to pay for their stock as herein provided, the president and directors, first giving public notice in two or more newspapers for the space of thirty days, by resolution entered on the records, may forfeit such stock, and proceed at such time as they may deem expedient to re-sell the same; and all partial payments made on any stock which shall be forfeited, shall be held for the benefit of the institution.

§ 27. That so soon as five thousand dollars of the capital stock shall have been paid in by individuals, companies, or corporations, as heretofore required, the president and directors shall cause the governor to be notified thereof, who is hereby authorized to appoint some suitable person to count the money so paid in, and to take the oath of the president and at least two of the directors, that the same

How stock may be forfeited.

When the bank may commence

1851.

Limitation to

stock.

has been paid in as capital stock, bona fide, and make due return thereof to him; and, on such appearing to be the fact, the governor is authorized to issue his proclamation that the amount hereby required to be paid in, and in the funds herein required, has been done; and the said institution is then hereby authorized to commence operations.

§ 28. That no one company, individual, or corporation, shall be allowed to hold more than one hundred shares of subscriptions of the capital stock of this institution, either in their own names or in the names of others in order to transfer them; and all stock that any individual, company, or corporation, shall take or hold contrary to this provision, shall be forfeited to the institution for the benefit of the other stockholders; and no individual, company, or corporation, shall be allowed in person or by proxy, to vote at the first election of directors on any stock which may stand in his, her, or their names, without first making oath that the stock, bona fide, belongs to them, and is not held in trust for

No director to become security.

No loans to be made for stock.

Real estate acquired to be sold within 5 years.

No note to be cur

issued as rency,

others.

$29. That it shall not be lawful for the president or any of the directors to become bound as security or accommodation indorser on any note or bill discounted in said institution; and a violation of the provisions of this section shall subject the person violating the same to a penalty of one thousand dollars, to be recovered by action of debt in the name of the corporation, for its own use and benefit.

§ 30. That said institution shall not make any loan of money or discount any note or bill in any case whatever, for the purpose of enabling any individual to make payment for its own stock; and no stockholder shall be allowed to pay any debt he may owe the same, by the surrender of stock; and stockholders who shall become indebted to the institution, shall be compelled to pay their debts in all respects as other persons dealing with the same; nor shall any stockholder be allowed to make payment of the shares of stock held by him or them, by means of loan or loans obtained from the institution.

§ 31. That the real estate purchased by this institution, or the legal title of which shall be acquired in any way, (except such as may be held for the purposes mentioned in the first section of this act,) shall be sold within five years after it shall have perfected its title thereto; and on their failure to comply with the provisions of this section, the same shall vest in the commonwealth.

§ 32. That it shall not be lawful for said institution to issue any note or bill to be passed and used as currency; and if it shall so presume to do, the charter shall be forfeited, as provided in the fourth section of this act. Approved March 15, 1851.

CHAPTER 426.

AN ACT authorizing the construction of a mill dam across Pond River. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That John S. Eaves, jr., John S. Eaves, sr., David Clarke, and John W. Rollins, or either of them, be and they are hereby authorized and permitted to construct a mill dam across Pond river, at Clarke's ferry: Provided, said mill dam shall not be more than ten feet high; any act declaring said river navigable above that point to the contrary notwithstanding: And, provided further, that said John S. Eaves, jr., John S. Eaves, sr., David Clarke, and John W. Rollins, and each of them, be placed under the same rules and regulations as are, by law, imposed on all other persons erecting mill dams across other water courses. Approved March 15, 1851.

1851.

CHAPTER 427.

AN ACT for the benefit of Abraham Boyd, of Trigg county. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That the second auditor be directed to issue his warrant on the treasurer, in favor of Abraham Boyd, of Trigg county, for twenty-eight dollars and fifty cents, who shall pay the same out of any money in the treasury not otherwise appropriated; which shall be compensation in full to said Boyd for conveying William Dugraffeinreid, a lunatic, from Trigg county to the asylum, in the year 1850. Approved March 15, 1851.

CHAPTER 428.

AN ACT to establish a Police Court in the town of Caseyville. § 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That there is hereby established, in the town of Caseyville, in Union county, a police court; and a police judge for said town shall be elected by the qualified voters of said town; and he shall take an oath before some justice of the peace, faithfully and impartially, to the best of his ability, to discharge the duties of his office.

§ 2. The said police judge shall have jurisdiction, within said town, and one half mile thereof, of civil causes, to the same extent that justices of the peace now have, or may hereafter have in this state; and shall have the same jurisdiction of crimes and misdemeanors, committed within Union county, as two justices of the peace now have; and shall have full jurisdiction, within said town, of all the offenses against the by-laws and ordinances of said town; and shall have power to enter judgments, and issue execu

Police judge to be elected.

His powers & jurisdiction

1851.

Appeals.

elected.

tions for all fines and penalties for such offenses. He shall have power to grant attachments and injunctions, and writs of ne exeat, to the same extent as the justices of the peace selected by the county court now have. It shall be the duty of said police judge to keep a record of his proceedings, copies of which shall be evidence, to the same extent, and for the same purpose that copies of the records of justices of the peace now are. He shall have power to issue subpoenas for witnesses, and other process, to compel attendance of witnesses before him, and to punish all contempts against his authority, by fines not exceeding five dollars in each case. He shall have power to order the marshal, or other officer, to summon a jury in cases cognizable before him, where a jury is required by law. He shall have power to take and certify depositions, as justices of the peace now have, which shall be allowed to be read as depositions are now allowed to be read, which are taken before and certified by justices of the peace. He shall be entitled to the following fees, viz: for a peace warrant, fifty cents; for a warrant in cases of riot, rout, or unlawful assembly, or breach of the peace, fifty cents; for a warrant for a violation of any by-law or ordinance of said town, where the trustees of the town are plaintiffs, twenty-five cents; for swearing a jury, and presiding over a trial, fifty cents; for subpoenas, twelve and a half cents, each; for original judgment, in all civil cases, twenty-five cents; all other fees shall be the same as those of justices of the peace for like services; and shall have power to collect in the same way. He shall have jurisdiction of all cases of motions and suits against the treasurer, marshal, clerks, and other officers of said town, for all sums of money received and paid out by them, whenever required by any one to take cognizance thereof.

§3. Appeals from all judgments rendered by said police judge, in civil cases, shall be allowed to any party, under the same rules and regulations, and to the same tribunals as appeals are now allowed from judgments of justices of the peace.

§4. Said police judge shall be elected by the qualified How to be voters of the town of Caseyville, at the same time, and in the same manner as the presiding judge of the county court, and shall be qualified in the same way, and hold his office for the same term as the presiding judge of the county

Powers & du ties of marshal.

court.

§ 5. The said marshal shall have the same power, and perform the same duties, and be liable to the same penalties that constables of this commonwealth are now, by law, or may hereafter be authorized to perform, or be subject to ; and said marshal, before he enters on the duties of his of fice, shall take an oath for the faithful performance of his duty, in the county court of Union county; and shall exe

cute a bond, with one or more good sureties, to be approved by said county court, in the penalty of three thousand dollars, payable to the commonwealth of Kentucky, with a condition similar to a bond a constable is bound to execute, and the same may be put in suit for a failure to perform the conditions of said bond, by any person injured, in the same manner as suits are now authorized to be brought on a constable's bond; and said marshal shall also be subject to a motion against him and his surety, before said police judge, for a failure to pay over money to the person entitled to receive the same, under the same rules, regulations, and restrictions as motions are authorized to be made against defaulting constables.

§ 6. Said marshal shall be elected by the qualified voters of the town of Caseyville, at the same time, and in the same manner as the sheriff of the county of Union.

Approved March 15, 1851.

1851.

CHAPTER 429.

AN ACT authorizing the Allen County Court, to subscribe stock in the
Louisville and Nashville Railroad.

§1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That it shall be the duty of the sheriff of Allen county, at the election to be held on the second Monday in May next, to open a poll for one-half per cent., and a poll for one per cent.; and the question shall be asked of each qualified voter, "are you in favor of taxing the real and personal property of this county one-half per cent. on the one hundred dollars worth of property, or are you for taxing the same one per cent. ?" and if, upon comparing the polls, it shall be found that a majority of said qualified voters have voted in favor of either of said sums, it shall be the duty of the county court of said county to levy a tax upon the real and personal property for the amount receiving the vote of a majority of the voters of said county, which shall be paid out, by the judge of said county court, in the construction of the Louisville and Nashville Railroad.

§ 2. That in the event said road is located through the county of Allen, the judge of the county court is hereby authorized to subscribe for, on account of the county of Allen, an amount of stock which shall be equal to the tax proposed by the vote of said majority, of qualified votes: Provided, that said subscription shall not be for a greater sum than can be raised by taxation, as proposed above, in four years: And, provided further, that said subscription and tax shall be null and void, unless said Louisville and Nashville railroad is located through said county of Allen, and town of Scottsville.