About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

An Act to incorporate Chappell Hill Manufacturing Company. 1863 26 (1863.11)

handle is hein.slavery/ssactstx0117 and id is 1 raw text is: the purposes of education, not to exceed in value, exclusive of the cnllege grounds and buildings, five hundred thiusand& dollars SEC. 4. The before mentioned trustees shall have power to regulate their own time of servilee not to exceed two years at any one time, without re-election by the stockholders, or body hereby incorporated; they shall have power to employ all necessary profemors, tutors and teaohers, to confer degrees, and to do any and every act usually done In similar institutions, not inconsisteut as hereinbefore provided. . SEc. 5 All the acts and doings of the board of trustees, heretofore bad and performed, in reference tq said college, is hereby legalized and held as valid ant obligatory: Provided, That the same be, not inconsistent to the exist- Ing las of the State. Sic. 6. This act take effect and be In force from and after its passao. Approved December lath, 1863 CHAPTER XXXVII. AN A CT to incorpmate Chaffpell Hill Manufacturing Company. BicirroN 1. Be t enacted by the Legtslaure of the State of Teaa, That William W. Browning, Bryant L. Peel, Jumes F. Dumblo, Gabriel Felder, Charles G. Young, Alexander McGowen, James F. Harvey and S. W. Sims, and their associates and successors in olfice, be, nnd are, hereby created into a body cor- porate and politic, for the purpose of manufacturing woolen and cotton clotha, cotton seed oil and Iron, under the name and title of the Chappoll 11111 Manufacturing Company, and in this name and style shall have full power to sue and be sued, plead and be implebded and to do and perform all other gots sad exercise all the rights and privileges, and be endowed with all aLe power incident to corporations. S~a. 2. That the capital stock of said company Aull be the smoluutactu~lly paid In by the stockholders, at any time, Provided, That the capital stock shall not exceed one million of dollars, and shall consist of all Its property, real, personal or mixed chosen in action, franchizee or rights to property Inchoate or perfeoted, and shall be divided into shares of one hundred dollars each and be eemed and considered In law personal property and estate, and be transferable by any conveyance in writing, recorded by the proper officer of said gompany, In books to be kept for that purpose at its office. SEC. 3. That the above named incorporators shall be, and are, hereby con- stituted a provisional board of directors, a majority of whom shall consltute a quorum, and shall have power to open books for subscription to the capital stock of the company, and as soon as it shall be ascertaned that fifty thousand dollari shall have been subscribed, ihey shall call a meeting of the stockholders who ihall organize the company by the election of a new board of directors, and this corporation shall go into operation. The new board of directorb, and their successors in office, shall be authorized, at their discretion, to Increase tbLe capital stock from time to time, by receiving new subscriptions, until the amount of one million shall baye been subsrotibed, as provided in section two of this charter. The board of dirctors shall be authorized to fixthe instalments upon subscriptions, and determine the times and manner of payment, all of which may be changed from time.to time, at their discretion ; they shall be authorized to receive, In payment of stock, Confederate Treasury notes, or bonds, or any kind of property, upon such terms as they may deem proper. Szo. 4. That the business of the company shall be conducted by a board of seven directors, who shall be stockholders, four of whom shall constitute a quorum. The directors shall be elected by the stockholders, each share being entitled to one vote, which may be given In person or by proxy. The election for directors shall be held by to commissioners selected by the stockholders for that purpose The first board elected shall hold their office until the first Mon-

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most