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scriptions of stock, shall be opened in the town of Millersburg, on the first day of April next, to continue open for sixty days, unless the stock shall be sooner subscribed; and that WilCommission- liam Bowles, James M'Clelland, Hugh Talbot, Joseph Miller, Robert Miller, Daniel Talbot, James M'Kee, Lewis Viemont and Anthony Sheriff, shall be commissioners to open books for the subscription of said stock.

ers.

ter.

Commission

A bank to be established at the town of WinAt Winches- chester, in the county of Clark, to be denominated the Winchester Commercial Bank, with a capital stock of $ 200,000, to be divided into 2000 shares of $100 each; and that books be opened for subscription of the stock of said bank, under the direction of Benjamin H. Buckner, Thomas G. Jones, James Cartwright, Silas W. Robbins, George Webb, Robert Clark and Elijah G. Browning, or a majority of them, at Winchester, on the first day of April next, to continue open sixty days, unless the stock shall be sooner subscribed.

ers.

A bank to be denominated the Stanford Bank, At Stanford. shall be established in the town of Stanford, in Lincoln county, with a capital stock of $ 150,000, to be divided into 1500 shares of $100 each; and books shall be opened in the town of Stanford, on the first Monday in April next, under Commission- the superintendance of William Craig, Francis S. Reed, James Davidson, Thomas Helm, Michael Davidson, William Forbes, David Swoope and John C. Thurman, or a majority of them, and said books shall be kept open sixty days, unless the stock shall be sooner taken.

ers.

At Richmond

A bank to be established in the town of Richmond, in the county of Madison, to be denominated the Richmond Bank, with a capital stock of $200,000, to be divided into. 2000 shares of $100 each; and that books be opened for subscription of stock to said bank, under the direction of Anthony W. Rollins, Squire Turner, Commission- William Barnett, Tarlton Embry, Samuel Stone, Thompson Burnham and John Patrick, or a majority of them, and said books shall be kept open ninety days, unless the stock shall be sooner tak

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en.

A bank to be denominated the Monticello At Monticello Bank, to be established in the town of Monticello, in Wayne county, with a capital stock of $100,000, to be divided into 1000 shares of $100 each; and books shall be opened in the town of Monticello, on the first Monday in April next, under the direction of George Berry, Hardin M. Weatherford, Abel Shrewsbury, Thomas Clemens and CommissionJoseph Heavin, or a majority of them, and books shall be kept open sixty days, unless the stock shall be sooner taken.

ers.

§ 2. Be it further enacted, That the aforesaid Rules & reg. banks shall go into operation according to, and ulations. be in every respect governed by the rules and regulations established by an act to establish independent banks in this commonwealth, and for the government thereof.

CHAP. CCLXV.

An ACT to establish a Turnpike Road from Louisville to Portland and Shippingport.

APPROVED February 3, 1818.

$1. BE it enacted by the General Assembly of the Commonwealth of Kentucky, That a company shall be formed under the name and title of "The Louisville and Portland Turnpike Road Company," for the purpose of forming an artificial road of stone from Louisville to Portland.

Style of in. corporation.

2. Be it further enacted, That the capital Capital stock. stock of the said company shall be $ 30,000, divided into 300 shares of $100 each.

§ 3. Be it further enacted, That a book for sub- Books forsubscriptions in the stock of said company shall be scriptions to be opened in opened on the first Monday in March next, in Louisville. Louisville, under the direction of H. M. Shreeve, James A. Pearce, Anderson Miller, Robert Todd

(R., S.), John Gwathmey and James D. Breckin Commissionridge, who are appointed commissioners for that ers. purpose, whose duty it shall be to procure one or more books, in which they shall enter as follows:

"We whose names are hereto subscribed, Form of sub- do promise to pay to the president, managers and scription for company of the Louisville and Portland road, the stock. sum of one hundred dollars for every share of stock in the said company set opposite our rèspective names, in such manner and proportions, and at such times as shall be determined by the president and managers of the said company, agreeably to the act of the general assembly of the commonwealth of Kentucky, to incorporate a company for making an artificial road from Louisville to Portland. Witness our hands this

day of

one thousand eight hundred and -." And the said commissioners, or one of Notice to be them, shall give such notice as they may think given of the sufficient, of the place at which the said book or place for o- books will be opened to receive subscriptions for pening books stock in the said company; and the said commissioners, or one of them, shall attend at the appointed time and place, and shall përmit all persons of lawful age, in their own name, or in the name or names of such person or persons as may have given lawful authority to do so, to subscribe for any number of shares, not exceeding fifty, in said stock; and the said book or books shall be kept open, by adjournment or otherwise, until the whole number of shares shall be subscribed; and when the whole of the said shares shall have been subscribed, or when in the opinion of the said commissioners a sufficient number of shares shall Stockholders have been taken to commence the said turnpike, to elect presit shall be their duty, having first given reasonaident and di- ble public notice of the time and place of meeting, rectors. to call a meeting of the shareholders, for the purThe time of pose of electing a president, treasurer and six their continue managers of the said company, who shall continue ance in office. in office for one year, and until their successors are duly elected. And whenever the said subscription shall be filled, or whenever in the opinion of the said commissioners a sufficient number of shares shall have been taken to justify the commencement of the said turnpike, the said subscribers or shareholders shall be a body politic with the usu- and corporate, in deed and in law, by the name al powers. and style of The President, Managers and

Created a corporation

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Company of the Louisville and Portland Turnpike Road;" and by the said name the said subscribers shall have perpetual succession, and all the privileges and powers incident to a corporation, and shall be capable of taking and holding their said capital stock, and the increase thereof, and of purchasing, taking and holding, to them and their successors and assigns, and of selling, transfering and conveying in fee simple, all such lands, tenements, hereditaments and estate real and personal, as shall be necessary to them in the prosecution of their works; and of suing and being sued, implead and be impleaded, answer and be answered, defend and be defended, in all courts of record, as well as every other place whatsoever; and also to make, have and use a common seal, and the same to break, alter and renew at pleasure; and to do all and every other matter and thing which a corporation or body politic may lawfully do.

§ 4. Be it further enacted. That the number of Scale of votes votes to which each stockholder shall be entitled, shali be according to the number of shares he holds, in the proportions, following: For every share not exceeding five, one vote; for every two shares over five and not exceeding ten, one vote; for every two shares over ten and not exceeding twenty, one vote; for every six shares over twen

ty and not exceeding fifty, one vote; and after And regula the first election, no share or shares shall confer tions on that a right of voting which shall not have been hold- subject. en three calendar months previous to the day of election. All stockholders, who are citizens of the United States, may vote by proxy, provided the proxy be a citizen of this state. None but a stockholders stockholder shall be eligible as a president, mana- can be a presger or treasurer, and every president, manager ident, direcor treasurer, as the case may be, shall cease to be such upon his ceasing to be a stockholder.

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§ 5. Be it further enacted, That the stockhold- Annual meeters in said company shall meet on such day in ing for choosevery year, at such place as shall be fixed by the ing officers. by-laws, for the purpose of choosing officers as aforesaid, for the ensuing year, in manuer aforesaid, and at such other times as they may be sum

May enact by Jaws, &c.

Certificates

and delivered

May be transfered by assignment, &

moned by the managers, in such manner and form as shall be prescribed by the by-laws; ať which annual or special meetings, they shall have power and authority to make, alter or repeal, by a majority of votes, in the manner aforesaid, all such by-laws, rules, orders and regulations as aforesaid, and to do and perform any other corporate act.

6. Be it further enacted, That the president and managers first chosen as aforesaid, shall proof shares to cure certificates to be written or printed for all be made out the shares of the stock of the said company, and shall deliver one such certificate, signed by the president and countersigned by the treasurer, and sealed with the common seal of the corporation, to each person, for every share by him subscribed and held; which certificate shall be transferable at his will, in person or by attorney, in the presence of the president or treasurer, subject however to all payments due or to become due thereon; and the assignee holding any certifieate, having first caused the assignment to be entered in a book of the company to be kept for the purpose, shall be a member of said corporation; and every certificate by him held, shall be entitled to one share of the capital stock, and of all the estates and emoluments of the company, and to vote as aforesaid at the meetings thereof.

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$7. Be it further enacted, That the said presiPowers and dent and managers shall meet at such times and president & places, and be convened in such manner as shall managers in be agreed on for transacting their business relation to which meeting four members shall form a quorum, their meet- who in the absence of the president may choose a ings, officers, &c. chairman, and shall keep minutes of all their transactions; and a quorum being met, they shall have power and authority to agree with and appoint all such surveyors, superintendants and artists as they may judge necessary to carry on the intended works, and to fix their salaries or wages; to ascertain the times, manner and proportions when the stockholders shall pay the money due on their respective shares, in order to carry on the work; to draw on the treasury for all monies necessary to pay the salaries

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