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Existing laws SEC. 13. All laws heretofore passed by the city authorities of Memphis or South Memphis, not hereby repealed or rescinded, and not in conflict with each other, shall remain in full force and effect until hereafter altered or repealed by the Aldermen to be elected under this charter, and all legal contracts heretofore entered into by either corporation, shall be faithfully observed and carried out by the Mayor and Aldermen hereafter to be elected; and power is hereby given the Mayor and Aldermen to be elected under this charter, to collect all taxes, debts, fines, &c., due to either Memphis or South Memphis, and to carry on all suits begun by them, or either of them, and no suit against either shall abate by reason of this act, but may be carried on against them without amendment of parties.
Records to be delivered to new Board.
Wards laid off.
Election when held.
Qualifications of officers.
SEC. 14. The different officers of the present towns having the books, records, papers or property of either in their hands, shall upon the organization of the new Board, deliver them over to the Mayor and Aldermen.
SEC. 15. The Aldermen first elected under this charter, shall within four months after their election, district the city into six wards, having regard, as far as possible, to qualified voters; which wards shall run from east to west, as near as may be. The second election for Mayor and Aldermen under this charter, 'shall take place on the last Thursday in June, 1850, and annually thereafter, and be held by the Sheriff as before provided, and the re-districting of wards shall take place only once in two years.
SEC. 16. The Aldermen elect shall judge of their own qualifications, and of those of the Mayor, and no member of the Board shall hold an office of profit within the gift of the corporation during the period for which he was elected, nor shall he during that time be interested in any contract to which the corporation is a party; and any Alderman or other officer so offending shall forfeit all the rights, privileges and emoluments of his office, and be forever after ineligible to office under the Corporation.
SEC. 17. In order that neither the town of Memphis or South Memphis, may justly complain of being taxed to pay the debts of the other, it is hereby provided that the debt of Memphis shall be paid off from revenues. within her own present limits, and the debt of South Memphis from revenue within her present limits.
SEC. 18. The provisional Board of Mayor and Aldermen, or those first elected under this charter, shall arrange the salaries of the different offices, which shall continue until the organization of the second board,
who shall then fix the salaries for one year, provided that no Alderman shall receive any compensation for his services as Alderman.
SEC. 19. The first fiscal term under this charter shall Fiscal year. commence on the first day of January, and on the last day of June, 1850, and the taxes assessed by the pro-. visional or first board, shall be collected during that time, and the next and all subsequent fiscal years shall run from the first day of July to the 30th day of June inclusive.
SEC. 20. A vacancy in the post of Mayor from ab- Vacancy of Maysence or otherwise, shall be filled by the Aldermen, and or
they shall select one of their own body to preside at their deliberations.
SEC. 21. Any Justice of the Peace or Judge shall administer the requisite oath to the Mayor and Aldermen, who shall each take an oath of office before entering upon discharge of the same.
SEC. 22. This act shall go into effect on its passage and may be read in evidence without proof in all courts of this State; but until the election and organization of the first board of Mayor and Aldermen under this charter, the offices of the city of Memphis and of South Memphis, shall be administered under their own respective charters as heretofore.
When to take ef fect.
Penalty for illegal
SEC. 23. That if any person vote in any election for Mayor and Aldermen, or either, authorized to be hold-voting. en by this charter who is not a qualified voter by the terms of this charter, or if any person being a qualified voter vote more than one time in the same election, he shall be liable to indictment or presentment as in cases of misdemeanor; and upon conviction thereof shall be deemed guilty of a misdemeanor and fined in a sum not exceeding fifty dollars and imprisoned at the discretion of the court, not exceeding thirty days.
SEC. 24. This act shall take effect immediately, and all laws or parts of laws contrary to, or conflicting with the provisions of this act, be and the same are hereby repealed.
LANDON C. HAYNES,
Speaker of the Senate.
Passed December 3rd, 1849.
An Act to amend the Turnpike road charter granted to James Standifer & Co
Be it enacted by the General Assembly of the State of Tennessee, That Church Jackson, the present owner and proprietor of said road, be permitted to change the same, commencing with said road at the eastern part of the Cumberland mountain, near the residence of the late James Sims, deceased, in Marion county, continuing the present chartered road to the western top of said mountain, in an old field, then diverging to the left, and intersecting the Crow Creek road at or near the Tunnel of the Nashville and Chattanooga rail road in Franklin county.
LANDON C. HAYNES, Speaker of the House of Representatives. JOHN F. HENRY,
Passed, 10th November, 1849.
Speaker of the Senate.
An Act to change the time of holding the Circuit Courts in the counties of Marshall and Hickman.
Be it enacted by the General Assembly of the State of Tennessee, That the Circuit Court of Marshall county, shall hereafter be held on the third Mondays in April, August and December, and the Circuit Courts in the counties of Hickman shall hereafter be held on the 4th Mondays in March, July and November-this act to take effect from and after the first day of January next. LANDON C. HAYNES,
Speaker of the House of Representatives.
Passed, November 21st, 1849.
Speaker of the Senate.
An Act to establish the Edgefield and Allisonia Manufacturing Companies.
SECTION 1. Be it enacted by the General Assembly of the State of Tennessee, That a body corporate and politic is hereby constituted and established by the name and style of the "Edgefield Manufacturing Company," for the purpose of manufacturing Cotton and Woolen goods, or either of them separately; and that said company is empowered to have and use a common seal, to change the same at pleasure, to make such by-laws and regulations (not inconsistent with the constitution and laws of this State or of the United States) as may be necessary or useful, to contract and be contracted with, to sue and be sued, to have succession and to hold by purchase or otherwise any real or personal property, (and to dispose of the same) that may be necessary or convenient for carrying out its operations, or which may be acquired for debts due to it, in whole or in part.
SEC. 2. That the capital stock of said company shall capital stook. be one hundred thousand dollars, which may be ncreased to one hundred and fifty thousand dollars whenever deemed necessary by the Stockholders; and which shall be divided into shares of one hundred dollars each. Said stock shall be transferable on the books of the company only, and then not without the consent of the Board of Directors, unless the whole amount of instalments due thereon shall have been previously paid.
SEC. 3. That the Board of Directors of said com- Calls of stock. pany for the time being, or a majority of them, shall have power to call for, and require of the Stockholders, respectively, all sums of money by them subscribed, at such times, in such proportions, and at such places as they (the Directors,) may see fit, under penalty of the forfeiture of the share or shares of such delinquent Stockholders, and of the payments previously made thereon-thirty days notice being given, in some newspaper in the town of Nashville, of each call.
SEC. 4. That Samuel Watson, Nicholas Hobson, Commissioners, John B. Johnson, Robert G. Smiley, Nathaniel Baxter, Samuel R. Anderson and Washington Barrow, are hereby appointed Commissioners, and they, or a majority of them, shall select a site for said Manufactory, on the side of Cumberland river, opposite the town of Nashville, and having done so, they shall open Books of subscription to the Capital Stock of said company,
giving twenty days notice thereof, and when the number of two hundred and fifty shares shall have been subscribed, they shall, after due notice, proceed to elect seven Directors, who with a President elected by them from their own body, shall manage the affairs of the said Company, and hold their office for one year or until their successors are chosen. The election of said Directors shall be annual, and each Stockholder shall have one vote-which may be given by proxyfor every share he may hold. Provided, That the privileges herein granted shall not continue longer than ninety-nine years.
SEC. 5. Be it enacted, That James A. Deery, William Allisonia Com. B. Deery, Robert E. Deery, and such other persons as may hereafter be associated with them, and their successors are hereby incorporated by the name and style of the Allisonia Manufacturing Company, for the purpose of manufacturing goods and articles from cotton, wool, hemp and silk; for the making of machinery or implements of wood, iron or other materials, and for the erection of mills, for the grinding of grain, and the manufacture of flour; for the manufacture of leather, and the erection of bridges across Elk river for the use of the company; with a capital stock to consist of not less than one thousand, and not more than five thousand shares of one hundred dollars each; said com- ka pany shall have all the rights, powers and privileges, and be subject to all the limitations, liabilities and restrictions, so far as they are applicable, which are herein before given to, and prescribed for the Edgefield Manufacturing Company. Said company shall have the power to sell or lease, or otherwise dispose of their e site, water-power, and appurtenances; Provided further, that said company shall have power to do business at one or more points as may be convenient, and provided, that one of the said company may act as President, one as Secretary and the other as Treasurer.
SEC. 6. Be it enacted, That if any portion of the Stockholders capital stock of the corporations hereby created shall be withdrawn or refunded to the stockholders, before the payment of all debts of the corporations for which such Stock would have been liable, the Stock holders shall be liable in their individual property for the debts of said Corporations to the amount Stock thus withdrawn or refunded to them.
SEC. 7. Be it enacted, That if the Directors of said Directors-when Corporations shall declare and pay any dividend when the Corporations are insolvent, or any dividend the payment of which, would render them insolvent