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SECTION 3. And be it further enacted, That for the purpose of raising the capital stock of said corporation, the persons named in the first section of this act, or a majority of them, shall be a Board of Commissioners, whose duty it shall be to open books of subscription for said capital stock at such times and places as they may deem proper, and it shall be lawful for any person or persons, firm or firms, or for the Corporation of the city of Savannah, or for any other corporation or body politic, to subscribe for such number of shares in said capital stock as he, she, they or it may desire.
SECTION 4. And be it further enacted, That when the sum of fifty thousand dollars of said capital stock shall have been subscribed, the said commissioners, or a majority of them, shall give twenty days' notice in some public gazette in the city of Savannah, of a time and place for meeting of the stockholders, to organize said Hydraulic Company of the city of Savannah, at which said meeting, the said stockholders, by a vote of a majority of the shares represented, shall elect for the well ordering and management of the affairs of said corporation, a board of five Directors, which board shall, after the first election, be entitled [elected] on the first Thursday in January of each year, and said board shall annually, at the first meeting after their election, by a vote of at least a majority, elect one of their number President of said corporation, and shall have power to employ artists, managers and laborers, and to elect or appoint, as they may by by-laws designate, such other officer or officers as they may deem necessary for their aid, and to allow them reasonable compensation.
SECTION 5. And be it further enacted, That in case there should be a failure to elect a Board of Directors for said corporation at the time and place designated by the said commissioners, or a majority of them, then the said commissioners, or a majority of them, shall have power to call another meeting of the stockholders for the same purposes, and subject to the same rules as the first meeting aforesaid, and after the election of the first Board of Directors, in case of a failure at any time by the stockholders to elect a new board upon the day hereinbefore appointed for such election, the same may be made on another day, to be provided for by the by-laws of said company, and in all cases until the new Board of Directors shall be elected, the old board shall be authorized to act, and in case of a vacancy or vacancies in the Board of Directors, or Presidency of said corporation, by death or otherwise, the remaining Directors at their first meeting thereafter, shall fill such vacancy or vacancies by election.
SECTION 6. And be it further enacted, That the Board of Directors may call in the payment of all the capital stock subscribed, by such instalments, payable at such times as they
may deem most suitable, giving twenty days' notice of the amount and time of payment of each instalment, in one of the public gazettes of the city of Savannah: Provided, that the said instalments shall not be called in oftener than once in every three months, nor exceeding at any time three dollars per share.
SECTION 7. And be it further enacted, That the Board of Directors shall call annual meetings of the stockholders, and at each and every such meeting, shall make to them a full return and report of the actings and doings, progress and business of said corporation for the year last past.
SECTION S. And be it further enacted, That the net profits of said corporation shall be divided among the stockholders semi-annually, and that any and every stockholder shall have the right at any time to inspect the books of said corporation.
SECTION 9. And be it further enacted, That the shares in said corporation shall be transferable only in such manner as the by-laws thereof may prescribe.
SECTION 10. And be it further enacted, That any stockholder or stockholders owning two thousand shares, shall have power to call a meeting of the stockholders for purposes relative to said corporation, giving at least thirty days' notice of such meeting in one of the public gazettes of the city of Savannah, and specifying in such notice the objects of said meeting.
SECTION 11. And be it further enacted, That the said corporation shall be bound by its contracts, when under its corporate seal, signed by the President and countersigned by the Secretary, and by such contracts as may be made by agents duly appointed under such rules and regulations as may be prescribed by the by-laws of said company.
SECTION 12. And be it further enacted, That said corporation shall have power to contract for and purchase from the Savannah and Ogechee Canal Company, any and all interests and privileges in said Canal, and the whole of said canal and its appurtenances, should they deem it necessary for carrying out their purposes: Provided, that nothing contained in this act shall authorize the closing of said canal, or diverting it from its original purpose.
SECTION 13. And be it further enacted, That the said corporation shall have the right to lay pipes through the streets and lanes within the jurisdiction of the city of Savannah, by and with the consent of the corporate authorities, and may appropriate to their use such lands and tenements in said city, or elsewhere, belonging to private individuals, as may be necessary for the cheap, proper and convenient construction and perfection of their works, and for laying their pipes, upon paying to the owners of said lands and tenements, reasonable compensation for the same.
SECTION 14. And be it further enacted, That when any person shall feel himself aggrieved or injured by the appropriation to the use of said corporation, of any part of his lands or tenements, and cannot agree with the corporation as to the amount of the damage he has thereby sustained, the amount of such damage shall be ascertained in the manner prescribed in section fifteenth of an act entitled an act to amend an act entitled an act to incorporate the Central Rail Road and Canal Company of Georgia, to alter and change the name of said company, and to give to the said company banking powers and privileges, approved December 14,
SECTION 15. And be it further enacted, That any person injuring the property of said corporation, shall be punished by indictment as for a misdemeanor, and upon conviction shall be fined and imprisoned at the discretion of the Court before whom the conviction may be had.
SECTION 16. And be it further enacted, That all laws and parts of laws militating against this act, are repealed as to the same.
Approved, February 21, 1850.
AN ACT to incorporate the Floating Dry Dock Company
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority of the same, That William B. Hogson, John Stoddard, William B. Giles, George Wymberly Jones, Edward Padelford, Andrew Low and George Jones, and all others who are now or may be hereafter associated with them as subscribers, and their successors and assigns, be and they are hereby created and made a body politic and corporate, by the name aud style of the Floating Dry Dock Company of Savannah, and by that name may sue and be sued, may have a common seal and exercise all usual and necessary corporate powers not inconsistent with the laws of the State.
SECTION 2. And be it further enacted, That the said company shall have power to take and hold to them and their successors such property, real and personal, as may be necessary for the convenient transaction of its business, not exceeding seventy thousand dollars, and to ordain and establish such by-laws as they may deem fit: Provided, such bylaws are not repugnant to the Constitution and laws of this State.
SECTION 3. And be it further enacted by the authority aforesaid, That the said company shall have power to construct and
maintain a Floating Dry Dock for the building, construction and repairs of vessels, at or in the vicinity of the city of Savannah.
Approved, February 5, 1850.
AN ACT to incorporate the Savannah Institute of the Sisters of Mercy.
WHEREAS a number of persons in the city of Savannah in this State have associated themselves together under the name and style of "The Sisters of Mercy," having for their object the advancement of the cause of education and charity, and the performance of acts of mercy and benevolence in society; and whereas they are desirous, for the better effecting of these objects, that the said Institute be incorporated :
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority of the same, That Mary Vincent, Mary Agnes, Mary Aleysus, Mary Joseph, with all other persons as are now or may hereafter become members of said Institute, be and they are hereby incorporated and made a body politic by the name and style of the Savannah Institute of the Sisters of Mercy, with the privilege of using a common seal.
SECTION 2. And be it further enacted by the authority aforesaid, That the said Institute, by the name and style aforesaid, shall be and they are hereby made able and capable in law to hold, purchase, receive and enjoy lands and tenements, goods, and chattels and effects, of what name or nature so ever, for the purposes of the incorporation; the same to grant, alien and dispose of; and to sue and be sued, to plead and be impleaded in courts of law and equity.
SECTION 3. And be it further enacted by the authority aforesaid, That all laws and parts of laws militating against this act, be and the same are hereby repealed.
Approved, December 19, 1849.
AN ACT to incorporate the Augusta Machine Works. WHEREAS William M. D'Antignac, John M. Adams, Lambeth Hopkins, James M. Poe, and William H. Turpin, jr., have formed themselves into a company by the name and style of "The Augusta Machine Works," for the purpose of manufacturing agricultural implements, cotton, wool, and the machinery necessary for the fabrication
thereof, locomotives, &c.; and whereas the said company have invested a large sum of money in prosecution of their design, by purchasing land and water power in Richmond county, State of Georgia, and the purchase of machinery; and whereas, for the more conveniently carrying on the operations of the said company, the said persons desire an act of incorporation :
Be it therefore enacted by the Senate and House of Represen tatives of the State of Georgia in General Assembly met, and it is hereby enacted by the authority aforesaid, That the said William M. D'Antignac, John M. Adams, Lambeth Hopkins, James M. Poe, and William H. Turpin, jr., and such persons as may hereafter become subscribers and stockholders in the said company, and their successors and assigns, shall be and they are hereby created and constituted a body politic and corporate by the name and style of "The Augusta Machine Works," and by that name shall be and they are hereby made able and capable in law to have, purchase, receive, possess, enjoy and retain to them and their successors and assigns, lands, rents, tenements, hereditaments, goods, chattels and effects, of whatsoever kind, nature or quality the same may be, and the same to sell, grant, demise, alien, and dispose of; to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended in any court of law or equity or any other place whatsoever; and also to make and have a common seal, and the same to break, alter and amend at their pleasure; and also to ordain, establish and put in execution such bylaws, rules and regulations as shall be necessary and proper for the government of said corporation: Provided, They be not repugnant to the laws and Constitution of this State or the United States; and generally to do and perform all and singular such acts, matters and things as corporations may legally do and perform for the purpose of carrying into ef fect the objects of the association.
Approved, January 14, 1850.
AN ACT to amend an act approved December 19th, 1829, entitled an act to incorporate the St. Marys Library Society.
SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Georgia in General Assembly_met, and it is hereby enacted by the authority aforesaid, That James M. Smith, President, H. Bacon, Vice President, J. J. Dufour, Treasurer, and H. E. W. Clark, Secretary, and such persons as they may associate with them and their successors in office, be and the same are hereby declared to be a body politic and corporate by the name and style of