porators and cor CHAPTER 1131. AN ACT to incorporate the Owensboro Board of Trade. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That C. A. Todd, J. D. Powers, Jos. RothNames of incor- child, F. T. Gunther, Robert Brodie, Jno. Wandling, porate powers. R. McJohnson, T. W. McAtee, Benj. Wile, Wm. Crutcher, John Thixton, E. P. Willett, S. M. Dean, W. A. Gunther, and their associates, are hereby created a body-politic and corporate, with succession, under the name of the Owensboro Board of Trade; and by that name may sue and be sued, implead and be impleaded, receive and hold property and effects, real and personal, by gift, devise or purchase, and invest or re-invest or dispose of the same by sale, lease or otherwise, said property so held not to exceed at any time the sum of fifty thousand dollars; may have and use a common seal, and make such rules and regulations and by-laws as may advance the commercial character of the city of Owensboro, fix and determine joint rules and customs among its business community, acquire and disseminate useful business information, and avoid and adjust, as far as practicable the controversies and misunderstandings which may arise between individuals engaged in trade, when they have no acknowledged rules to guide them; such rules and regulations not to be contrary to the laws of the United States and the Commonwealth of Kentucky. stock. § 2. That at any time hereafter the said corporaSubscription of tion may, by its by-laws, authorize a subscription of stock, in shares not exceeding one hundred dollars each, to an amount not exceeding the limit imposed in the first section, to be used for the promotion of the objects of the association, which said shares shall be transferable on the books of the said corporation in such manner as may be provided for by the bylaws of said corporation. ing privileges §3. Said board of trade shall not engage in traffic Traffic and bankof any kind, or exercise any banking privileges; and prohibited. the Legislature shall have power to amend, repeal or alter this charter at any time. 4. This act shall take effect from and after its passage. Approved April 18, 1888. CHAPTER 1132. AN ACT to incorporate the Merchants and Mechanics' Bank of Owens boro. Be it enacted by the General Assembly of the Commonwealth of Kentucky : § 1. That there is hereby established a bank of discount and deposit in the city of Owensboro; the subscribers, their associates, successors and assigns, shall be a body-politic and corporate, by the name and style of "The Merchants and Mechanics' Bank;" and shall be capable of contracting and being contracted with, of suing and being sued, of impleading and being impleaded, and of answering and defending, in all courts and places whatever; it may have a common seal, and change and renew the same at pleasure. § 2. That said bank may be under the control and Directors. direction of three or more directors to be elected by the stockholders, and shall serve one year, or until their successors shall be elected and qualified. The directors may select, annually, a president from their number. The stockholders may meet and elect the said three or more directors when five hundred shares shall be subscribed and fifty per cent. thereof paid. J. W. M. Field, R. Monarch, R. W. Slack, J. W. Marks and M. V. Monarch, or any two of them, may, Capital stock. ors. Vacancies. at such time, place and in such manner as suits their convenience, open books for subscription for the capital stock, which shall be in shares of fifty dollars each; and said corporation may commence business so soon as the said fifty per cent. of five hundred shares have been paid in, and the president or cashier shall have made oath to the fact of such payment before some judge, justice or notary. § 3. That the directors shall have power to receive Power of direct- subscriptions for so many shares of the stock of said company remaining unsold as they may at any time. choose to sell; to declare dividends of the profits. arising out of the business, and to appoint such officers, agents and servants as they may deem necessary to conduct the business of said bank, and pay them. such sums as wages and salaries, and take from them such bonds to secure the faithful performance of their duties, as they may think reasonable and proper. In case of the death or resignation of any director, the vacancy can be filled by the board of directors. The stock shall be deemed personal property, and shall be assignable only on the books of the bank, upon such rules as the board of directors shall, from time to time, establish; but said corporation shall have a lien on the stock to secure any unpaid balance thereon. For the contracts of the corporation, each stockholder shall be individually responsible to the amount of stock held by him in said corporation. The capital stock of said bank may be increased from time to time to two hundred and fifty thousand dollars, as the president and board of directors may deem advisable and proper, but not to exceed that amount. Capital stock. 4. That said bank may transact business as a Class of business natural person; may loan money, discount promissory notes or bills of exchange; may buy and sell gold and silver coin, exchange, stock or other securities, and all other evidences of indebtedness; and may do a general banking business, except that it shall not have power to make or issue notes of its own. The promissory notes and bills of exchange made negotiable and payable at its banking-house, or at any other banking-house, when discounted by the bank, shall be, and they are hereby, put upon the same footing of foreign bills of exchange, and like remedy may be had thereon, jointly and severally, against the makers, drawers and indorsers. The said bank shall have the power to make advances on approved securities, upon agricultural products, including growing crops, and upon all manufactures and fixtures, as personal property. It may receive in pledge, or as security for money loaned or debts owing it, bonds, stocks, produce and merchandise, United States vouchers, certificates, or bonds of indebtedness, or the bonds of this or any other State, city or county or company incorporated by the United States or any other State, and sell the same on the non-payment of the debt or demand by ordinary judicial proceedings. 5. That said bank may receive deposits of gold, silver, bank notes, or other notes which may be circulating as money, and repay the same in such manner, at such times, and with such interest, not exceeding six per cent. per annum, as may be agreed upon with the depositors by special or general contract. Said bank may receive deposits from minors and married. women, and the receipts and acquittances of such minors and married women shall be valid. § 6. That said bank may acquire, hold, possess, use, Real estate. occupy, and enjoy all such real estate, goods and chattels, as may be necessary for the transaction of its business or to further the objects of its creation, or which may be conveyed to it as surety of any debtor purchased to aid in the satisfaction of any debt, judgment or decree: Provided, Said bank shall not hold such real estate longer than five years, and sell and convey the same; and said bank may make such bylaws for their government as they may deem necessary: Provided, The same be not contrary to the Constitution of this State or of the United States. 7. That it shall not be lawful for this bank to issue any note or bill to be passed or used as cur rency. 8. That this act shall take effect from its passage, and continue in force thirty years. Approved April 18, 1888. Preamble. Names of commissioners. CHAPTER 1133. AN ACT to define and establish the dividing line between Grayson and Edmonson counties, from a point on Nolin river, one hundred yards below the boat-yard, which is near and below the mouth of Conoloway creek, to the Butler county line. WHEREAS, In the first section of the act of the General Assembly of this Commonwealth establishing the county of Edmonson, approved January 12, 1825, appears the words, "Hobles' old place," which should have been "Hobbs' old place," as no such person as Hoble was ever known to have a place in the section of country named in said act; but “Hobbs' old place" is, and was then, well known to the people in that neighborhood; and whereas, this mistake has caused much litigation and contention; and whereas, there is no record anywhere to be found showing that the said line was ever run; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: §1. That John E. Stone, of the county of Grayson, and J. C. Vanmeter, of the county of Edmonson, be, and they are hereby, appointed special commissioners to survey, define and establish the dividing line between the said counties of Grayson and Edmonson, from a point on Nolin river, one hundred yards below the boat-yard, which is near and below the mouth of Conoloway creek, to the Butler county line. Commencing on the bank of Nolin river, at the beginning corner, and running the old original line to the But |