scription and tax, then the same shall be assessed and 1874. made on behalf of such city or county, and not otherwise, unless the vote be taken at a general election, in which case the subscription may be made, if the proposition receive in its favor a majority of the votes cast for and against it.

Officers, how elected and ap

$10. There shall be a president, a secretary and treasurer of said company, who shall be elected annually by pointed. the directors, and the president from the directors, except as provided in the preceding section, and also such other subordinate officers, agents, engineers, and servants of the company as may be necessary, who may be elected, appointed, or employed by the president and directors; any officer or agent of the company may be required to give good and sufficient security for the faithful performance of his duties.

§ 11. The president and directors shall have power to Powers of officers make contracts for carrying on all the business within the object and purposes of the company; and to make such rules and regulations and by-laws, not incompatible with the laws of this State or of the United States, as they may deem necessary and proper for regulating elections, the government of the company, the duties and responsibilities of officers and agents, and prescribing in what manner, and by what evidence, the capital stock of the company may be transferred: Provided, That no shares of stock shall be transferable until all previous calls thereon shall have been fully paid in, or the shares shall have been forfeited for non-payment of the calls thereon, on the books of the company.

§ 12. The president and directors shall have the power to open books and receive subscriptions to any of the capital stock which shall at any time remain unsubscribed for, or to sell or dispose of same for the benefit of the company not under its par value; and if the president and directors so determine, it shall be lawful for them to receive subscriptions to the capital stock, payable in contracts, well secured, to build such parts of the road and branches, or to perform such work in the construction thereof, as may be accepted by the company, or payable in coal or iron lands, or any lands lying in convenient proximity to the road, or in the bonds of the subscribers, secured by double the amount in value of unencumbered real estate, redeemable by installments or otherwise, as may be specified, within ten years from the date thereof, and bearing interest at the rate of six per cent. per annum, payable semi-annually in Louisville or elsewhere, as may be specified; and the president and directors may, if necessary, issue a preferred stock to an amount not exceeding one half of the capital stock of the company, with such

President and directors may open sub

books for scription of stock.

1874.

be increased.

priority over the remaining stock, in the payment of dividends, as they may determine, and shall be approved by a majority in value of the stockholders.

§ 13. The president and directors, with the consent of a Capital stock may majority in value of the stockholders, shall have power to increase the capital stock of the company, from time to time, until it shall be equal to the cost of the road and its branches, together with the right of way, motive power, and all appurtenances and expenses necessary to the completion and operation of same; and may close the capital account, and it shall not thereafter be increased; and it shall be lawful for the company to borrow such sums of money as may be necessary for their legitimate purposes; and they may issue and dispose of their bonds for any amount so borrowed for such sums, and at such rates of interest as is allowed by the laws of the State where such contracts is made, and mortgage the whole or any part of their corporate property and franchises, conditioned for the punctual payment of interest on said bonds as the same may fall due, and the principal when it shall become due, and with authority for the trustee to sell all said property and franchises to raise the interest and principal, if not punctually paid, on such terms and notice as shall be declared in the deed of trust: Provided, That should said property and franchises be sold under said deed of trust, the purchasers shall be entitled to all the rights and privileges of this charter, and of any amendments which may be made thereto, and subject to all the obligations and restrictions of the same; and the company may sell their bonds, either within or without this State, at such rates and prices as permitted by law, and such sales shall be as valid as if such bonds should be sold at par value. May borrow The company may confer on any holder of any bond issued money and secure for money borrowed as aforesaid the right to convert the principal due or owing thereon into stock of said company, under such regulations as the company may adopt; and may indorse any bonds which they are authorized by this act to receive in payment for stock, and may pledge the same as securities, and dispose of any such bonds on such terms, and at such rates, as may be lawful and expedient.

the same by moit

gage.

and hold real estate.

§ 14. The company may purchase, and, by voluntary May purchase grants, receive and take, and their officers, engineers, agents, contractors, and workmen, enter upon, examine, survey, take possession of, and hold and appropriate and use, any lands and real estate and other property, and any earth, waters, timber, gravel, stone, or other materials, and any right of way and interests which may be neces sary or useful for the construction, maintenance, and operation of their railroad and branches, side-tracks, stations,

1874.

May construct

depots, and other accommodations necessary to accomplish the objects for which this corporation is created. The company shall have the power to construct branch roads to connect with other railroads, and also to build branch roads. branch roads to mines, or any other place that the business of the road and the interests of the public may require.

May fix trans

§ 15. The company shall have the power to receive, transport, and convey persons and property on their rail- portation fees, &c road, by the force of steam, of animals, or any mechanical power, or any combination of machinery and powers, and may establish and regulate the time and manner in which passengers and property shall be transported, and the tolls and compensation to be paid therefor to said company: Provided, Said rates of toll do not exceed the rate allowed by law to other railroad companies.

May build and operate a tele

§ 16. The company shall have power to establish a telegraph along the line of their road; and may erect any graph line. and use any apparatus for conveying intelligence with rapidity along their line, by means of signals or otherwise.

mence business.

§ 17. Whenever the company shall have completed five When may commiles of their road, they may prosecute their business as if the whole work was completed.

§ 18. The president and directors shall annually or semiannually declare and make such dividends, as they may deem proper, of the net profits arising from the business and resources of the company, after deducting a reserved fund for the current and probable contingent expenses, and shall divide the same among the stockholders in proportion to their respective shares.

§ 19. This act shall take effect from its passage.

Approved February 23, 1874.

May declare dividends.

CHAPTER 529.

AN ACT to amend an act, entitled "An act to change the name and extend the limits of the town of Berry Station, in Harrison county," approved March 15th, 1869.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That section first of an act, entitled "An act to change the name and extend the limits of the town of Berry Station, in Harrison county," approved March 15th, 1869, be, and the same is hereby, amended so as to include within the limits of said town the distillery lot and pens of Lair, Redmon & Co., so known, now the property of John L. Pugh, being the distillery property known by the name

Boundary ex

tended.

1874.

of the Lair, Redmon & Co. distillery at the time of the passage of said act.

§ 2. This act shall take effect from and after its passage. Approved February 23, 1874.

general index.

CHAPTER 530.

AN ACT for the benefit of the Bath circuit court clerk.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

1. That the clerk of the Bath circuit court is hereby Clerk to make required to procure a suitable book, to be called a “general index," in which he shall make an index entry of all civil cases, both equity and ordinary, which have been decided in said court and filed away, which index shall refer to said cases respectively by the names of each plaintiff against the defendants, and in the name of each defendant adverse. the plaintiffs, and refer to the number of the bundle in which the papers of the case have been filed away in his office.

clerk.

§ 2. That his compensation for said services shall he Compensation of one cent for each entry in said "general index" for all cases decided previous to the first day of December, 1873, to be allowed by the county court of claims of said county, and paid out of the county levy.

§ 3. That this act shall take effect from its passage.

Approved Feb: uary 23, 1874.

names.

Name and style.

CHAPTER 531.

AN ACT to incorporate the Lebanon Gas-light Company.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That N. T. Berry, J. R. Britney, Hugh Phillips, Corporators' Owen Ruble, R. H. Roundtree, J. G. Carlisle, William E. Russell, W. W. Cleaver, John A. Geary, P. H. Roach, and John Dowling, and their sucessors, be, and they are hereby, created a body corporate and politic, by the name of the Lebanon Gas-light Company, for an indefinite period; and by that name shall have perpetual succession; and by that name may sue and be sued, plead and be impleaded, in all the courts of this Commonwealth; and by that name shall have the power to contract and be contracted with; to have and use a common seal, to alter the same at pleasure; and to make all necessary by-laws and regulations for the government of the company, and

powers.

Corporate

the conduct of its business, not inconsistent with the Con- 1874. stitution and laws of this State and of the United States.

§2. That said company shall keep an office in the town Office & business. of Lebanon; and its business shall be to construct and maintain gas-works in the town of Lebanon, and to supply said town and its inhabitants with gas-light; and it may borrow money.

estate.

§3. That said company may purchase and hold as May acquire real much land as will be required for its office, residences for its officers, agents, and laborers, and for engine and other houses for its works; and said company may sell or exchange the same and purchase again; and may hold such personal estate, machinery, &c., as may be necessary and convenient for the transactions of the business of the company.

§ 4. That it shall be the duty of said company, within Object. three years after its organization, to erect and establish in the town of Lebanon a gas manufactory of sufficient extent and capacity to supply the town of Lebanon, and the citizens thereof, with all such public and private lights ås may be, from time to time, required.

right to supply

§ 5. That the company have the exclusive privilege of Tohaveexclusive erecting, establishing, and constructing gas works in the town with gas. city during this charter, and of vending gas-lights.

§ 6. That to enable the company to construct and establish gas-works in the town of Lebanon, it is authorized to lay down and extend pipes and conductors through any of the streets and alleys of the town; and for that purpose to take up the pavements and to replace the same, and shall be responsible to the town, or any individual, for any damage which may arise therefrom, or any unreasonable delay in replacing the same; and said company shall be subject to the regulations of the town as to streets, and to the same ordinances and penalties that individuals may be subject to.

May lay gaspipes through streets of Lebanon.

open subscription

§ 7. That the corporators aforesaid, or any three of Commissioners to them, shall be commissioners for opening books for the books. subscription of stock; and they, or any two of them, may advertise the time and place of opening the books in the town of Lebanon, and shall keep them open until not less than one hundred shares shall have been subscribed, when they shall be temporarily closed until after the election of directors, as provided in the next section hereof, and until the capital stock of said company shall have been fixed and determined upon.

When corporation may organ

§ 8. That when ten thousand dollars ($10,000) in stock shall have been subscribed, the commissioners shall tem- ize. porarily close the books as before provided, and shall advertise the same, and call a meeting of the stockholders, giving at least ten days' notice; and the stockholders so