1863.

names, & when to open books.

CHAPTER 1064.

AN ACT to incorporate the Deposit Bank of Frankfort. Be it enacted by the General Assembly of the Commonwealth of Kentucky:

1. That Cornelius Drake, Alexander Julian, Thomas Commissioners' Farmer, John R. Scott, S. I. M. Major, and A. W. Dudley, are hereby appointed commissioners to obtain subscriptions to the stock of the corporation hereinafter created, who, or a majority of whom, may meet at some convenient time and place in the town of Frankfort, of which due notice shall have been given in the Frankfort Commonwealth" and Kentucky Yeoman," published at Frankfort, at which time they may open books and receive subscriptions of stock to said institution; and shall keep said books open for one month, and as much longer as said commissioners shall deem necessary, or until the stock is taken.

Capital stock.

When to be a body corporate.

directors.

tug.

§ 2 The capital stock of said institution shall not be less than twenty-five thousand dollars, nor more than one hundred and fifty thousand dollars, divided into shares of fifty dollars each, which shall be personal estate, and transferable only on the books of the company, in such manner and subject to such regulations as the board of directors may prescribe.

§3. As soon as twenty-five thousand dollars shall have been subscribed and paid in to the stock of said company, the book of subscription may be closed and delivered over to the subscribers, who shall thereupon constitute a body politic and corporate; with the corporate name of the Deposit Bank of Frankfort." They and their successors shall so continue for the terin of twenty years; and may contract and be contracted with, sue and be sued, plead and be impleaded, and may exercise all the other powers usually incident to such corporations.

§ 4. Upon the receipt of the books of subscription the When to elect subscribers, or a majority in value of them, shall meet and elect five persons, who shall be stockholders, each the owner bona fide of ten shares of stock, to serve as directors of said institution until the first Monday in January Annual meet following, and until their successors shall be elected. The annual meeting of the stockholders shall thereafter be held on the first Monday in January in each year. but meetings may be held oftener if the directors, or a majority of them, How stock require it; and in all meetings of stockholders each person shall be entitled to one vote for every share of stock held by him. The officers shall hold their offices for one year, and until their successors shall be elected, but may be removed by a majority at any regular or called meetOfficers to be ing of the stockholders. The directors may choose one of their number, or out of the other stockholders, as their president; may appoint a secretary, and such other officers as they may require; fix their compensation, prescribe their

voted.

Term of office.

appointed.

duties, and take bond and security for the faithful discharge thereof; may prescribe the manner and times of paying in the stock; and shall have the general control of the affairs of the bank.

5. The directors shall annually appoint two or more stockholders to attend and hold the annual election.

1863.

Committee to be appointed to

§ 6. At each annual meeting of the stockholders a committee shall be appointed, who shall at least twice in each examine bank. year, examine into the condition of the bank, and file their report in said bank, subject to the inspection of all the stock holders, and shall also publish this report in one of the papers published in Frankfort for two weeks.

7. The business of said bank shall be to receive money and bank notes on deposit, and it may allow the depositors such interest thereon as may be agreed on, not exceeding the rates of interest allowed by law; to loan money; to deal in gold and silver coin, bullion, bills of exchange and promissory notes; to buy and sell the stock of other companies, and the bonds of this State, and of the United States; but it shall not issue notes or bills, or certificates of deposit, or any other instruments intended for circulation as money.

§ 8. All promissory notes negotiable and payable at some incorporated bank of issue in this State, purchased or discounted by said bank, shall be put on the footing of foreign bills of exchange, so far as pertains to the responsibili ty of the parties and the modes of collecting, and remedy may be had jointly and severally against the drawers and endorsers thereon; but this provision shall not authorize any usurious interest or discount under color of exchange. § 9. The directors shall annually declare dividends of the profits arising from the business of the bank. § 10. Should any person make a deposit in said bank, and be refused payment thereof on demand made for the same, according to the terms of deposit, and without lawful excuse, said bank shall pay to the depositor the amount of his deposit, and fifteen per cent. damages on the amount thereof, to be recovered by suit in the Franklin circuit

court.

§ 11. Said bank shall pay its deposits in gold and silver, or currency of the like kind of that deposited.

§ 12. The said bank may purchase, hold, sell, and convey any real or personal estate which may be necessary to carry out the object of its creation; and it may receive conveyances of real estate or any other property as may be necessary or proper to secure any debt due to it, or which may be sold for the payment of such debt.

bank.

Business of

Promissory notes, &c.

Dividends.

Penalty for failing to pay deposits.

Location.

13. Said bank shall be located in Frankfort. §14. If at any time the charter of said deposit bank shall be forfeited, or a depositor shall be refused payment to of the whole or any part of his deposit in said bank, ac

Stockholders liable for debts amount stock owned.

of

1863.

General Assembly may examine into affairs of bank.

cording to the provisions of section ten herein, in order to secure the payment of the debts of the bank, each and every stockholder shall be responsible for the full amount ' of his stock in said bank, at the date of such forfeiture or refusal, to the creditors of the bank, and to that extent shall be personally liable for the debts due from said bank; and upon his failure to pay the same, suit may be instituted against the stockholders jointly or severally, for the recov ery of such debts, in any court of competent jurisdiction.

§ 15. The General Assembly reserves to itself the right to examine into the affairs of this institution, by any person or persons they may select for that purpose, and to alter, amend, or repeal this act at pleasure.

§ 16. This act to take effect from its passage.

Approved March 3, 1863.

names and corporate powers.

CHAPTER 1066.

AN ACT to incorporate the Louisville and Southern Park Railway

Company.

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

§ 1. That U. E. Ewing, Joseph B. Kinkead, David H. Corporators Davies, Z. M. Sherley, Thos. T. Shreve, and Alfred Harris, their associates and successors, are hereby made a corporation, by the name of the " Louisville and Southern Park Railway Company," with power and authority to construct, maintain, and operate a single track railway, with all necessary and convenient tracks for turn-outs, side tracks, and appendages, from such point on Third street, in the city of Louisville, as the g neral council of said city may designate; thence along Third street to the Louisville House of Refuge; thence along the Park avenue to the main entrance to the Southern Park.

without consent

§ 2. That the road shall not be made within the limits of Not to be but the city of Louisville without the license of the general council, and upon such terms as the general council of said city may prescribe by ordinance.

of city council.

Capital stock.

affairs, and first directors.

3. The capital stock of said corporation shall be sixty thousand dollars; it shall be divided into shares of one hundred dollars, and be issued and transferred in such manner and upon such conditions as the board of directors of said corporation may prescribe.

§ 4. The affairs of said corporation shall be managed by Who to manage six directors and a president, who shall be stockholders in the corporation. The first board of directors shall consist of U. E. Ewing, Joseph B. Kinkead, David H. Davies, Z. M. Shirley, Thomas T. Shreve, and Alfred Harris, and thereafter of not less than six stockholders, who shall be

chosen each and every year by the stockholders, at such time, and in such manner, as the said corporation by its by-laws may prescribe. The said directors shall hold their offices until their successors are eleɔted and qualified, and may fill all vacancies which may happen in the board by death, resignation, or otherwise. They may also adopt such by-laws, rules, and regulations for the government of said corporation, and the management of its affairs and business as they may think proper, not inconsistent with the laws of this State.

1863.

May acquire

5. Said corporation shall have the right to acquire such land or right of way, by writ of ad quod damnum, in the right of way. same manner that turnpike road companies are authorized by the 103d chapter of the Revised Statutes of Kentucky, which took effect on the 1st day of July, 1852, as may be necessary for laying their track, side tracks, turn-outs, turn-tables, for car sheds, and stables.

6. In laying the railway track, it shall be so done as not to obstruct the travel of other vehicles or prevent the flow of water; the track of said railway shall not be elevated above the surface of the street, and shall be so laid that carriages and other vehicles can easily and freely. cross said track at any and all points, and in any and all directions, without obstruction.

How track to be constructed.

Streets to be

7. In taking up the street to lay down the railway track, said, corporation shall carefully replace same, and kept in repair. be bound to keep said track, and two feet on either side of it, in good repair, so long as said company continue to operate said road.

8. The cars to be used upon said track shall be operated by animal power only.

9. The rate of fare for any distance within the city limits shall not exceed five cents; and out of the city limits shall not exceed ten cents per passenger.

§ 10. The track, from such point on Third street, in the city of Louisville, as the general council may designate, to the Louisville House of Refuge land, shall be constructed in three years from the passage of this act, or this charter will be forfeited; and from the House of Refuge, along the Park avenue, to the main entrance to the Southern Park, at First street, within four years, or that part of the grant herein set forth will be forfeited.

11. This act shall take effect from and after its passage. Approved March 3, 1863.

only to be used.

Animal power

Rate of fare.

When track to

be constructed.

1863.

CHAPTER 1067.

AN ACT to incorporate Catlettsburg Lodge, No. 142, I. O. O. F. Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That N. J. Andrews, James Wise, John J. Williamson, John Klander, John A. Klaiber, and Peter Hammnis, and their associates, are hereby created a body corporate, by the name and style of " Catlettsburg Lodge, No. 142, of the Independent Order of Odd Fellows;" and they and their associates and successors shall so continue, and have perpetual succession; and by that name are made capa ble, in law, as natural persons, to sue and be sued, plead and be impleaded, contract and be contracted with, answer and be answered in all courts of law and equity in this Commonwealth; to make, have, and use a common seal, and the same to break, alter, or amend at pleasure; they may make and ordain regulations and by-laws for their government, and those now in force in said lodge to alter when deemed proper, and may change, and renew the same at pleasure: Provided, They be not in contravention of the constitution, laws, and regulations of the Grand Lodge of the Independent Order of Odd Fellows, incorporated by an act approved February 16th, 1838, nor in contravention of the constitution and laws of the United States or of this State. The said corporation shall have power and authority to acquire and hold real and personal estate, not exceeding twenty thousand dollars in value, and, from time to time, if deemed expedient, sell and convey the same, or any part thereof, aud to reinvest and dispose of the proceeds. The right to alter, amend, or repeal this act is hereby reserved to the General Assembly. § 2. This act to be in force from its passage.

Approved March 3, 1863.

CHAPTER 1068.

AN ACT to incorporate Morning Star Lodge, No. 16, I. O. O. F. Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§1. That Isaac H. Melvethy, Win. Wingate, Jas. H. Snyder, and John G. Gaines, and their associates, be and they are hereby created a body corporate, by the name and style of Morning Star Lodge, No. 16. Independent Order of Odd Fellows; and they and their associates and successors shall so continue and have perpetual succession; and by that name are made capable, in law, as natural persons, to sue and be sued, plead and be impleaded, contract and be contracted with, answer and be answered in all courts of law and equity in this Commonwealth; to