exceeding six per cent. per annum, with coupons attached to the bonds for the interest, payable semi-annually, which shall be signed by the treasurer of said company. 8. In the event of failure of any stockholder to pay up his stock as called for by order of the board of directors, the share or shares of such stockholder or stockholders may be forfeited by order of said board, or they may sue and recover the same. 9. The president and directors of said company shall have the power to establish a store or stores on or near their land, or the place or places where their manufacturing business is carried on, for the sale of dry goods and groceries, and such other articles, except spirituous, malt, or vinous liquors, as are usually kept and sold in a store, and sell the same for money, and buy and sell the products of the country. § 10. That it said company or their lessees shall build or construct any railroads, not exceeding twenty miles in length, on their premises, and connecting with any other railroad or water-courses, said lines of railroad shall be exempt from county and State taxation for a period of five years from the date of commencement of the construction of the same. § 11. The Legislature reserves the right to alter or amend this charter, and to regulate rates of toll for freight and passage. Approved March 1, 1882. CHAPTER 341. AN ACT to prevent the selling, loaning, or giving away of spirituous, vinous, or malt liquors in the town of Hiseville, in Barren county, and in the common school district in which said town is situated. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That no license shall be granted by the judge of the Barren county court, or by the board of trustees of the town of Hiseville, to any person or persons to vend or sell spirituous, vinous, or malt liquors in said town, or within the boundary of the Hiseville common school district. § 2. It shall be unlawful for any person or persons to sell, loan, or give any spirituous, vinous, or malt liquor, or any mixture of either, to any person or persons in said town or the common school district in which said town is situated. 3. Any person or persons who shall violate any of the provisions of this act shall be fined not less than twenty-five dollars, or be imprisoned for ten days, nor more than one hundred dollars, or forty days' imprisonment, or both so fined and imprisoned. § 4. The police judge of the town of Hiseville shall have jurisdiction over all violations of this act. § 5. Any and all fines collected under the provisions of this act shall inure to the benefit of the common school district in which the town of Hiseville is situated, to be paid to the school trustees of said district, who shall be liable for the faithful application of the sum to common school purposes in said district. § 6. This act not to include the premises of Garland Twyman in said boundary. 7. This act shall take effect from and after its passage. Approved March 1, 1882. CHAPTER 342. AN ACT directing the gcounty levy court of Jefferson county to re-district and lay off said county, outside of the corporate limits of the city of Louisville, into twelve justices' districts. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That the county levy court of Jefferson county be, and it is hereby, directed, at its March term, 1882, to re-district the county of Jefferson, outside of the corporate limits of the city of Louisville, and lay off said county outside of the corporate limits of said city into twelve justices' districts. § 2. Said districts shall be laid off with reference to the population.. §3. The records and papers of all justices of the peace in the districts heretofore existing shall be transferred and delivered to the justice who may be elected at the August elec tion, 1882, within the limits of whose district the office of the retiring justice may be situated. 4. That the act directing the county levy court of Jefferson county to re-district and lay off said county into twelve justices' districts, approved February 27, 1882, and all laws and parts of laws in conflict herewith, are hereby repealed. 5. This act shall take effect and be in force from and after its passage. Approved March 2, 1882. CHAPTER 343. AN ACT to empower the Gallatin county court to levy an ad valorem tax for certain improvements. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That it shall be lawful for the Gallatin county court, annually, at its court of claims, or at such other time as it may select, to levy a tax of not exceeding ten cents on each one hundred dollars' worth of taxable property in said county for the purposes of repairing or improving any turnpike road of which said county may become the exclusive owner. 2. That it shall be lawful for said county to acquire, by purchase or gift, any or all turnpike stock within its limits. 3. This act shall take effect from its passage. Approved March 2, 1882. Style. By-laws. Capital stock. CHAPTER 345. AN ACT to incorporate of the Todd-nigan Iron Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That the Todd-Donigan Iron Company be, and the same is hereby, incorporated, and by that name it may sue and be sued, contract and be contracted with. It may have a seal, and alter and change the same at pleasure; acquire, hold, and transfer all real and personal property necessary for the conducting of its business, and for securing debts and liabilities to it as fully as though it was a natural person; and also shall have the rights, powers, and privileges ordinarily pertaining to corporate bodies of like character. It may, by its directors, make all rules and by-law necessary for the management of its affairs not inconsistent with the Constitution and laws of this State or the United States. 2. That the capital stock of this company shall be two hundred thousand dollars, to be divided into shares of one hundred dollars each, and the stockholders may, whenever they deem it proper, increase said stock from time to time until it shall reach three hundred thousand dollars. The said company may carry on its business whenever seven hundred and fifty shares of stock have been subscribed and paid in. Certificates of stock shall be issued to each stock holder, signed by the president and countersigned by the secretary, which shall be transferable by the holder, but no such transfer shall be valid except between the parties thereto until the same is regularly entered upon the books of the company, so as to show the name of the person to whom and by whom made, the date of the transfer, and the number of the shares transferred. Directors. §3. The business of this company shall be conducted by a board of not less than five nor more than nine directors, to be chosen by the stockholders from their own number, and who shall vacate their offices when they cease to be stockholders. They shall hold office for one year from the regular Term. election, and until their successors duly chosen shall enter upon the duties of their office; but whenever a majority of the newly elected directors shall enter upon their offices, then all the members holding over shall cease to act. The directors shall have the power to fill any vacancy in the directory until the regular election. They shall appoint one of their Officers. number president and general manager, and one vice president, and appoint a treasurer and a secretary, and may engage such other subordinate officers as they may deem necessary, and may fix the salaries and times and manner of payment of all officers, and shall prescribe the duties of all such. A Quorum. majority of the directors or stockholders shall constitute a quorum to transact business whenever a meeting of either is held. The times of holding all elections shall be fixed in the by-laws of the company, and each share of stock shall entitle the holder to one vote in all elections or matters submitted to a vote of the stockholders. § 4. The business of this company shall be that of buying, Purposes. selling, and dealing in iron, steel, and metals, and all tools manufactured thereof, and all goods and tools connected therewith used in the manufacture of wagons, plows, all kinds of wheel vehicles, materials, and tools for buildings, bridges, streets, turnpikes, boat building, railroad and contractor's supplies, hardware and similar goods, and all articles used in connection therewith, and to manufacture any article used in such business, and shall be carried on in or near Louisville, Jefferson county, Kentucky; but it shall have the right to establish agencies and offices elsewhere to assist in carrying out the objects of the company. LOC. L., VOL. (—39 5. The company organized under chapter fifty-six, title "Incorporated Companies," of the General Statutes, called the Todd-Donigan Iron Company, may, by a vote of the majority of its stock, accept this charter; when that is done, the capital stock of that company shall become capital stock in this company, and the assets and liabilities of that company shall become the assets and liabilities of this company, and certificates of stock in that company shall be surrendered and new ones issued; and this company shall supersede and stand in place of that one in every particular, except that its corporate existence, rights, powers, and privileges shall be derived from this charter instead of from chapter fifty-six of the General Statutes, and all the powers of the former company under said chapter shall cease to exist. That John J. Slattery, president and general manager; Thos. A. Speed, vice president; Jabez Balmforth, treasurer; John Cochran, secretary, officers, and John J. Slattery, Thomas A. Speed, Jabez Balmforth, John Cochran, R. W. Donigan, George D. Todd, and James Todd, directors of said company, shali continue in office until second Tuesday in January, 1883, unless they, or either of them, shall become disqualified as provided in section three of this act, or shall resign; but the directors may at any time remove any officer for cause. 6. The directors shall declare and pay to the stockholders from the net profits of the business such dividend or dividends as in their discretion is wise and prudent. § 7. The private property of the corporators and stockholders of this company shall be exempt from all liability for the debts or liabilities of the company. 8 This act shall take effect from and after its passage, and remain in force fifty years after its passage. Approved March 2, 1882. CHAPTER 347. AN ACT to prohibit the sale of liquor within three miles of Rockbridge Church, in Shelby county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: §1. That it shall be, and is hereby, unlawful for any person to sell any vinous, spirituous, or malt liquors within threemiles of Rockbridge Church, in Shelby county. |