Directors. are hereby, created a body corporate, under the name of the Union Pipe Line Company; and by that name shall have perpetual succession, and power to contract and be contracted with, to sue and be sued, implead and be impleaded; to acquire, hold and own such real and personal property as may be necessary to the successful operation of a pipe line company. 2. The board of directors shall consist of not less than five nor more than eleven, who shall be stockholders in the company, and each of whom shall be the actual owner of twenty-five shares of stock, and a majority of whom shall be citizens of the Commonwealth of Kentucky, and who shall be elected for a term of one year, and until their successors are chosen at a meeting of stockholders of said company, to be Place of meeting held in the city of Louisville on the second Monday of March in each and every year. The incorporators herein named, their successors or assigns, shall be the board of directors for the year ending on the second Monday of March in the year 1889. In case of vacancy in said board, the board of directors is hereby empowered to fill the vacancy. The directors shall elect from their number a president, vice-president, secretary and Officers. treasurer. § 3. All by-laws shall be made and amended by the stockholders of said company, and may provide for the appointment of agents, fix their compensation, prescribe their duties, and require of them the execution of bonds, with sureties for the faithful performance of their respective duties. All meetings of stockholders of said company shall be called by the board of directors upon thirty days' notice given them. § 4. The capital stock of said company shall be one million dollars, in shares of one hundred dollars each, which shall be personal property, and which may be subscribed for upon such terms and transferable in the manner to be prescribed in the by-laws of said company. Said company is authorized to increase its capital stock, not exceeding one million dollars, upon a vote of five-sevenths of the entire stock, at a meeting of the stockholders called for that purpose. 5. Said company shall have power to construct, Powers. equip, maintain, and operate lines of pipe under ground or on the surface thereof, and to cross rivers and streams of water and valleys, for the purpose of receiving and conducting and distributing natural gas from the counties of Bullitt, Hardin, Meade, and Jefferson, and selling same for commercial, public, manufacturing, and domestic purposes; and said company is also empowered to acquire real estate that may be necessary for the erection thereon of such buildings, machinery, tanks, receivers, pipes, gasometers, and all other appliances or improvements that may be useful in receiving, safely storing and distributing natural gas; and said company may construct its pipe lines. with receiving and storage stations thereon from any or all of said counties into the city of Louisville, or any other city or town or manufactories in this State; and may acquire the right of way and a sufficient parcel of real estate on said line for the safe storage and distribution of its receiving stations, by purchase, donation or condemnation, according to the provisions of the general law for condemning property in this Commonwealth. Said company shall have the right to lay, maintain and operate its pipe lines in the public streets, alleys and public ways, and distribute, deliver and vend natural gas therein, subject to the supervision and control of the general council of the city of Louisville, or the city or town authorities or trustees of any town or city in this State. Said company shall have power to contract with the owners of natural gas wells in the counties of Bullitt, Hardin, Meade and Jefferson for supplies of natural gas, upon such terms and conditions as may be agreed upon. Said company shall have power to issue its coupon Bonis. bonds, bearing six per cent. interest per annum, payable semi-annually, and maturing at such time and place as it may designate in the face of said bonds; Dividends. and to secure the payment to the holders thereof, the company shall execute a mortgage, conveying to trustees, to be named therein, all of its properties and franchise: Provided, however, That the bonds herein authorized to be issued shall not exceed one-fourth of its capital stock. § 6. The directors, once in every year, shall declare dividends to stockholders out of the gross earnings of said company, after first deducting all expenses and fixed charges. § 7. That all laws and parts of laws in conflict with the provisions of this act are hereby repealed, and this act shall be in force from and after its passage. Approved April 12, 1888. CHAPTER 1015. AN ACT to incorporate the Richmond Rural Hotel Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That Thomas S. Ellis and Julia A. Ellis, and their associates, successor and assigns, be, and they are hereby, created a body-politic and corporate, under the name of The Richmond Rural Hotel Company, with succession for twenty years; and by that name they may contract and be contracted with, sue and be sued, use a common seal, and have all the rights of which a natural person might have in the matter of purchasing grounds for a hotel (the grounds intended to be used are the property of the aforesaid T. S. Ellis and Julia A. Ellis), in Richmond, Kentucky, and erecting on same suitable buildings for hotel purposes, leasing, operating, selling or mortgaging said hotel and hotel property. § 2. The persons named in this act, or any one of them, shall act as commissioners or commissioner to receive subscriptions to the capital stock of the com pany, to prescribe the time, terms and conditions of payment of the same, to superintend the election of directors and fix the time therefor, due notice of which shall be given to the stockholders, and do any and all things which a board of directors might do, until the election and organization of the board of directors. § 3. On the first Saturday of June, 1888, or as soon thereafter as practicable, there shall be elected five directors, all of whom shall be stockholders and own at le five shares of the stock of the company; and they shall hold office for one year or until their successors are elected. The annual election of directors, after the first year, shall be on the first Saturday of June of each year, unless a different time be fixed by the board of directors. § 4. The directors shall elect one of their body president, who shall be the chief executive officer of the company, and have such powers and duties as the board of directors may prescribe. 5. The board of directors, and their successors in office, shall have the control and management of all the business of the company, and they shall have the power to borrow money in the name of the company, and for its use and benefit, and secure the payment of same by a mortgage of the property and franchises of the company; and they may also do any and all acts necessary to the building, leasing and operating of a hotel in Richmond, Kentucky. 6. The personal property of the stockholders shall be exempt from the corporate debts. § 7. The capital stock of the company is fixed at twenty thousand dollars, which shall be divided up into shares of one hundred dollars each, which shall be personal property in the company, secured by the certificate of the company, under its seal, and transferable as the by-laws may prescribe. Approved April 12, 1888. CHAPTER 1016. AN ACT to amend an act, entitled "An act to incorporate the Kling Car Coupler Company," approved March 8, 1888. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That an act, entitled "An act to incorporate the Kling Car Coupler Company," approved March 8, 1888, be, and the same is hereby, amended as follows: § 2. That the name and style of said corporation is hereby changed to the "Kling Automatic Car Coupler and Supply Company," and shall be known as such. § 3. That section 1 of said act shall be, and the same is hereby, amended by adding to said section 1 the following words: "And shall have the right and power to manufacture, buy and sell any patent appliances and articles useful and appertaining to the tracks, cars, rolling stock, and all other articles used in the operation and conducting of railroads, of all descriptions, and to dispose of same in any manner." 4. This act shall take effect from and after its passage. Approved April 12, 1888. CHAPTER 1017. AN ACT to amend the charter of the Lexington, Harrodsburg and Perryville Turnpike Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the charter of the Lexington, Harrodsburg and Perryville Turnpike Company be, and the same is hereby, repealed as follows, to wit: § 2. That this corporation shall not be subject to the provisions of an act, entitled "An act to better protect |