ness. as the interests of the enterprise may, in the judgment of the directors, require. § 3. The general nature of the business of said comNature of busi pany shall be that of editing, printing, publishing, selling and circulating a weekly newspaper devoted to the advancement of the fine stock interests of the country and other interests connected therewith. § 4. The capital stock of said company shall be Capital stock. fifty thousand dollars, in shares of five hundred dollars each; the rights, property, franchises, choses in action and subscription list of the newspaper now published in Lexington, Kentucky, known as the Kentucky Stock Farm, may be received by said corporation at twenty thousand dollars value, and it may, for same, issue forty shares of paid-up stock of five hundred dollars each; and the corporation may commence business upon the issue of said forty shares of paid-up stock, and may increase the issue of stock to the limit named at such time and upon such legal conditions as a majority of the paid-up stock may deem best for the interests of the corporation. § 5. Each share of paid-up stock shall be entitled to a vote at all meetings of the stockholders, and shall be cast by the owner in person or by proxy. § 6. The company shall provide and keep a book Record of stock. for the purpose of keeping a record of the stock, and in such book shall be entered and kept the names of each stockholder, with the number of shares owned by each designated by marks or serial numbers; and corresponding certificates, signed by the president and secretary of the corporation, shall be issued to the owners of said stock. § 7. No transfer of stock shall be valid except as between the parties thereto, unless made upon the said books in the manner to be provided in the company's by-laws. § 8. If any member shall desire to sell his stock and withdraw from the company, he shall notify the presi dent of such desire, and of the price he asks, and he and the president shall ascertain the real value of same, and fix the minimum price at which it shall be sold. If the two can not agree on the price, they shall call in a third person, and any two of them shall fix said price, which shall be indorsed on the stock, and for five days thereafter the company shall have the option to buy said stock, or any part thereof, at the price fixed; and should the company decline to purchase, in whole or in part, within said time, then the stock or remainder of it may be sold by its owner to any person who will buy the same at the price. fixed; and in no event shall any stock be sold, except as above provided, without the consent of the board of directors. § 9. The corporation shall have a prior lien upon the stock of each stockholder as security for the payment of any debt he may owe it. ness. § 10. The corporation shall commence business at Commence busisuch time during the present year, after the conditions herein are complied with, that it may see fit, and shall continue until dissolved by a four-fifths vote of the stock. § 11. The corporation shall establish by-laws, and By-laws. make all rules and regulations deemed expedient for the management of its affairs not inconsistent with the laws of this Commonwealth. § 12. The affairs of the corporation shall be con- Management. ducted by a board of not more than six nor less than three directors, as the stockholders may from time to time determine. A president shall be elected by them from their number, and the board may appoint such other officers as they may deem proper; and it shall have power at any time to fill vacancies. § 13. The incorporators shall constitute the first Directors. board of directors, and they shall hold office until their successors are elected. The stockholders shall each year, at such time as they may deem best, elect a board of directors. The said directors and officers shall hold office until their successors are elected and qualify. The corporation shall not create an indebtness exceeding one-fourth of its paid-up capital stock. 14. The private property of the stockholders shall be exempt from corporate liabilities. 15. This act shall be in force from its passage. Approved May 2, 1888. CHAPTER 1433. AN ACT to amend an act to incorporate the district of Clifton, in Campbell county, approved February 15, 1888. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That an act to incorporate the district of Clifton, in Campbell county, Kentucky, approved Febru ary 15, 1888, be amended as follows, to wit: That so much of section 1 in said act as describes the boundaries of said district shall be changed so as to read as follows, to wit: "Commencing at the intersection of the Newport and Alexandria Turnpike Road and the Licking and Morgan road, at the north-west corner thereof; thence with the south boundary line of the city of Newport to Central avenue; thence with the boundary line of said city northwardly along Central avenue, on the east side thereof, to a point ninety-four feet south of Liberty street; thence westwardly along the boundary line of said city of Newport to the Licking river; thence southwardly along the east bank of the Licking river to the line between G. W. Robson, Jr., & Co. and the land of the Louisville and Nashville Railroad Company; thence along the said dividing line, easterly, to the east side of Licking Turnpike Road; thence with the east line of Licking Turnpike Road to the north side of Hodge street, as laid down on the plat of Finchtown; thence eastwardly along the north side of Hodge street to the west side of Robson street (or the old county road); thence south wardly along the east side of Robson street to the south side of Howell street; thence westwardly along the south line of Howell street to the east side of Licking Turnpike Road; thence southwardly along the east side of Licking Turnpike Road to a point in the south line of a subdivision of fifty acres, known as the Huling tract; thence eastwardly with the south line of the Huling tract to the south-east corner of the land of John A. Williamson and adjoining the lands of Dr. Shaler and H. Budde; thence along and following the north line of Shaler's land to the Newport and Alexandria Turnpike Road; thence northwardly along the west side of the said turnpike road to the | place of beginning. § 2. That so much of said original act as is inconsistent with the provisions of this act be, and the same is hereby, repealed. §3. This act shall take effect from and after its pas-. sage. Approved May 2, 1888. CHAPTER 1434. AN ACT to prescribe the duties and privileges of certain officers in relation to the court-house, adjacent grounds, and the Breckinridge statue, in the city of Lexington. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That all acts and parts of acts exempting or relieving the jailer of Fayette county from the duties and responsibilities imposed on jailers in this Commonwealth by section 9, chapter 89, of the General Statutes, and an amendment thereto, approved May 5, 1880, be, and the same is hereby, repealed. § 2. The said jailer shall appoint, subject to the approval of the county court of said county, on such terms and conditions as said court may prescribe, an engineer and a janitor, for service in the court-house, care of the adjacent public grounds and of the Breckinridge monument. 3. The jailer and his said assistants, in addition to such other duties as may be incumbent on them, shall, within the above named limits, have and exercise the powers conferred by law and the ordinances of the city of Lexington on the police of said city, for the protection of said property and the preservation of order. § 4. That the rooms and offices necessary for the business of the sheriff, circuit and county clerks, cir cuit and common pleas courts, quarterly and county courts, the county judge, Commonwealth and county attorneys, and school commissioner, shall, as set apart, be used for the purposes indicated rent free. § 5. All other offices not specifically set apart for public purposes shall, when existing contracts expire. be rented by the sheriff to such tenants as he may approve, who will pay the highest rent per month, the proceeds to be accounted for by said sheriff under his official bond: Provided, That the magistrates shall have the free use of the room known as the Chamber of Commerce room for court purposes, and that at all times, when not being so used, the merchants, farmers and other citizens shall have the free use of it for business, political, or other proper purposes: Provided further, That the county surveyor shall have, if he will agree to do the county surveying therefor, without other compensation from the county, the use of the office now occupied by him. 6. This act shall take effect and be in force from its passage. Approved May 2, 1888. |