use, and altar. laws to make. impleaded, answer and be answered, defend and be defended, in any court of law or equity, or in any Seal to make, other place whatsoever-and also to make, have and use a common seal, and the same to break, alter or renew at their pleasure; and also to make, ordain, establish and put into execution, such byelaws, ordinances and regulations, as shall seem to them necessary and convenient for the government of said corporation, and which are not contrary to law-and generally, to do and execute all and singular, the acts matters and things which to them it shall or may appertain to do-subject, nevertheless, to the rules, regulations, restrictions and limitations herein after prescribed: Provided, however, That the estate and property of all and every individual share-holder, who holds or possesses stock in said corporation, shall, at all times be liable and subject in law, in proportion to his or her interest therein to pay and satisfy all debts and demands contracted by said corporation, during the time he or they held stock therein, upon a failure of the incorporate funds to discharge the same. Subscribera, Shares SEC. 2. It shall be lawful for any person, copartnership or body politic, to subscribe for, or purchase at public auction, such or so many shares. as he, she or they may think fit, under the regulations herein after prescribed or authorized, until the number subscribed or purchased, together with the sums already expended, laid out or engaged by the present proprietors, shall amount to five hundred shares. SEC. 3. Each share shall be one hundred dollars, payable in notes negotiable at the bank of Kentucky, or either of its branches, or at the office of the Kentucky Insurance Company, one half at 30, the other half at 60 days after date,with approved endorsDeficiency reco ers. In case any subscriber or purchaser at auction, shall fail to pay the amont of his.her or their note or notes, when the same becomes due, the deficiency may be recovered of the delinquent and their endorser or endorsers, by suit. verable. Who to receive subscriptions. SEC. 4. Subscriptions for shares in the said corporation, may be received by Richard Higgins, John Tilford, and George Trotter, jr. or sold by them at publie auction, after at least two weeks notice in one of the nublic news-papers in Lexington, if request. ed by a majority of the owners of two thirds of the then stock, until the first meeting of the share-holders under this act: a majority of at least two-thirds shall then designate the persons to receive subscriptions or sell stock, under the regulations which the said share-holders, or a majority of two-thirds of the owners of the stock, shall then make. Share-holders How long in fice, SEC. 5. The share-holders shall meet for the pur- to meet & elect pose of electing a President and two Directors, at President &c. the house of John Postlethwait, in Lexington on the second Monday in Febr'y next, and on the same day in every year thereafter, for the same purpose, at their office or place within the town of Lexing ton, as the President and Directors then in office. shall appoint; of which appointment, fourteen days notice shall be given in one of the Lexington newspapers. The President and Directors shall continue in office one year from the time of their election: And in case it shall at any time happen, that an election of President and Directors should not be made at the time required by this act, the said corporation shall not for that cause be deemed dissolved; but it shall be lawful for the President and Directors who were last in office, to continue as such until there is a new election: and it shall be their duty, in the manner which shall be regulated by the byelaws, to appoint another day for electing a President and Directors to serve for the remainder of the year: And in the event of the death, resignation or removal from the state or refusal to act, of a President or Director, his place may be supplied by filleda new election, specially convened for that purpose. Vacancies how What number SEC. 6. The president and one director, or two directors in the absence of the president, shall form a board; and the president, or two directors in his to be a board.j absence, shall at any time have power to call a general meeting of the share-holders. SEC. 7. The president and directors, for the time being, shall have power to appoint or employ such managers, mechanics, clerks or servants, as they appointed. may think necessary for the business of said corpo Managers-how Transfers, Annual meetings Oil Land Capital, how to -be vested. ration; and to allow them respectively, such com pensation for their services as they may deem proper, and to require security for their upright discharge of their several functions and trusts; and shall be capable of exercising such other powers and authorities for the well governing and ordering the affairs of the said corporation, as shall be described and determined by the laws and ordinances of the same. SEC. 8. The shares in said company shall be transferable, under such regulations as may be provided by the laws of said corporation. SEC. 9. The number of votes to which each shareholder may be entitled at a general meeting, shall be according to the number of shares he may hold, in the proportions following: That is to say; for one share, and not more than two shares, one vote; for every two shares above two, and not exceeding ten, one vote; for every five shares above ten, one vote; but no person, co-partnership or body politie, shall be entitled to a greater number than thirty votes; neither shall any person as proxy, be entitled to more than thirty votes; nor shall any share-holder be entitled to vote in person, or by proxy, on any share or shares, held and owned less than six months. SEC. 10. At the annual general meetings, the president and directors shall lay before the share-bolders a statement of the accounts, with such other information as they may think necessary, when such dividend of the profits shall be declared, as the president shall think advisable. SEC. 11. The said corporation shall have power to manufacture oils. SEC. 12. The lands held and owned by the said corporation, shall not exceed ten acres. SEC. 13. And be it further enacted, That it shall be the duty of the said corporation, and they are hereby expressly enjoined and required, to invest, appropriate and employ, the full amount of the capital stock aforesaid, in the establishment of the manufactories hereby authorized, and the purchase or procurement of raw materials, to be employed in the various manufactories contemplated by this act; and such capital stock exclusively to invest, appropriate and employ, in promoting the manufacturing objects of the said corporation as aforesaid; and at no time, and on no occasion whatever, to divert from this its legitimate object, any portion of the said capital, or to appropriate or employ any part thereof whatsoever, to banking purposes, under pain of forfeiting entirely this charter, and all and every advantage and privilege hereby conferredAnd moreover, the legislature shall, at all times, Power to repeal have power to repeal this act, by any violation of the true intent and meaning of any part of the prohibitions herein contained. CHAP. CCXXIX. AN ACT to provide for the payment of certain Mi- APPROVED, February 3, 1815, WHEREAS it is represented to the present gen. eral assembly, that the governor of this commonwealth hath thought it expedient to order out a guard of forty men from the counties of Caldwell and Livingston, for the purpose of guarding the frontier settlements of said counties, in the spring of 1813; who, in obedience of said orders, have performed a tour of thirty days' duty; which guard was replaced by another, consisting of forty men, from the same counties, ordered out upon the same service, who also performed a tour of thirty days' duty, and that the said guards hath heretofore been unpaid : Sec. 1. Therefore, be it enacted by the General Assembly of the Commonwealth of Kentucky, That the aforesaid guards be allowed for their services, the sum of eight dollars per month for each private; and also the sum of five dollars per month, for furnishing their own rations-and that the officers commanding the said guards, shall be allowed for their services the sum of twenty dollars per month. SEC. 2. Be it further enacted, That upon a muster roll being produced to the governor, properly certified and sworn to, he shall certify the same to the auditor of public accounts, who shall thereupon issue his warrant upon the treasurer, for the amount; which warrant shall be paid out of any money in the treasuary not otherwise appropriated. CHAP. CCXXX. AN ACT authorizing a certified transcript of any record of the Auditor, Treasurer or Register, to be evidence in law. APPROVED, February 3, 1815. WHEREAS doubts have arisen how far certifièd transcripts from the books and records of the auditor's, treasurer's and register's offices, are admissible evidence in judicial proceedings: Therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky, That all transcripts from the books and records of the auditor's, treasurer's or register's offices, properly certified, shall be good and admissable evidence in all courts of justice, and other judicial proceedings in this state, of the facts contained in such transcript. CHAP. CCXXXI. AN ACT for the relief of James Barnett. APPROVED, February 3, 1815. WHEREAS it is represented to the present general assembly, that James Barnett of Lincoln county, did receive by gift, from James Barnett, of Virginia, his father-in-law, two hundred acres of land, |