the payment of said bonds in the manner provided for in the second section of this act. § 4. Bath county, or any person appointed by the Bath county court, or the holder of any bond or bonds issued by virtue of this act, may institute such proceedings in the courts having jurisdiction as may be necessary to enforce the collection of taxes, and the payment of them when collected, or the payment of said bonds. 5. This act shall be liberally construed, and take effect from its passage. Approved March 27, 1880. CHAPTER 624. AN ACT to incorporate the Deposit Bank of Northeastern Kentucky, of Grayson. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That there is hereby established in the town of Gray- Name of bank. son, Carter county, Kentucky, a bank by the name of the Deposit Bank of Northeastern Kentucky, with a capital stock Capital stock. of one hundred thousand dollars, to be divided into shares of one hundred dollars each, and which may be increased to three hundred thousand dollars by order of the directors. § 2. The subscribers and holder of said shares of stock, and their successors and assigns, shall be, and are hereby, created a body-politic and corporate, under the name and style of the Deposit Bank of Northeastern Kentucky, and shall s0 Name. continue until the first day of January, 1900; and by that name shall be competent to contract and be contracted with, to sue and be sued, plead and be impleaded, answer and be answered; defend and be defended, in all courts and places, and in all matters whatever, as natural persons; with full May hold real es power and authority to acquire, hold, possess, use, occupy, and enjoy any real estate in or out of this State, and the same to sell, convey, and dispose of all such real estate, goods, effects, and chattels as shall be necessary and convenient for the transaction of its business, or which may be conveyed, assigned, delivered, or received in payment of any debt or demand that may be or become due or owing to said bank, or which may be purchased or conveyed in satisfaction of any debt or any judgment, order, or decree of any court in favor tate. of said bank; and may have and use a common seal, and alter, change, or renew the same at pleasure; and the board of directors of said bank, hereinafter provided for, may make, ordain, and establish and put in execution such by-laws, ordinances, rules and regulations, as said board may deem necessary and proper for the good government of said bank, and the prudent and efficient management of its affairs, not contrary to the Constitution and laws of this State or the United States. § 3. The business affairs of said bank shall be managed by Business-how a board of five directors, each of whom shall, at the time of uanaged. his election, be the owner of at least five shares of stock in said bank, and a resident of Carter county; said directors, after the first election (which shall be held at a time and place chosen by a majority of the stockholders), shall be elected at the banking-house of said bank, on the first Saturday in January of each year, and shall continue in office for one year, or until their successors are duly elected and qualified; but a failure to hold said election on the day above designated, shall, in no ease, operate as a forfeiture of this charter, or in anywise impair the rights and privileges of said corporation; but in such case the election may be holdenon a day appointed by the board of directors, after thirty days' written notice posted at the banking-house of said bank, and at two other public places in Grayson, and shall have the same effect as if holden on the regular day for said election; said election shall, in all cases, be by viva voce, and be held by a clerk and judge designated by the board of directors at some meeting previous to the same; and the certificate of such clerk and judge shall be proof of the election of the persons therein named as directors. At said election each stockholder shall have one vote for each share of stock he or she may own and hold in said bank, which has been paid for. cle ted. . § 4. The directors chosen as above may elect a president, Officers-how cashier, and such other officers as they deem necessary to carry on said bank, fix the salaries and bonds of the same, whose term of office shall continue only at the pleasure of the board. § 5. Said bank may take deposits of stock from any stockMay take de holder to an amount necessary to secure it for any money or demands such stockholder or stockholders may owe said os ts bank; such stock shall be held by said bank for payment of debt as any other property is held by individuals under the daw; and it shall be the duty of the president or cashier of said bank, during the first week in each year, to pay into the Treasury of this Commonwealth fifty cents on each one hundred dollars of the capital stock held and paid for in said bank, which shall not exempt said bank from local taxation, but the same shall be subject to such taxation as other prop erty for such purposes. mittee. $6. Dr. Lewis Prichard, L. T. Moore, George Lanesdoune, Names of comE. B. Wilhoit, Wylie Prichard, and R. D. Davis shall constitute a committee, any three of whom may act, to receive subscription for stock; and the books shall be kept open for subscription until the whole of the fifty thousand dollars shall be taken; and as soon as ten thousand dollars has been subscribed and paid in in cash, the bank may commence busi ness. § 7. Private property of the individual stockholders shall in no case be responsible for corporate debts. how punished. 8. That any director, officer, or employe of the bank, who Malfeasance and shall knowingly appropriate any funds or valuables of the bank to his own use, or who shall make any wrong entry with the intention to cheat or defraud anybody, upon conviction in a proper court, shall be imprisoned in the penitentiary not less than five nor more than twenty years. posits. § 9. Said bank shall be authorized to receive deposits from May receive deminors and married women, and their checks or orders for such deposits shall be good against all parties whatever. 10. The regular meeting of the board shall be on every Saturday; but the president may call a meeting at any time he may think proper. declared § 11. Dividends, if any, shall be declared on the first Sat- When dividends urday in January and July of each year. § 12. All promissory notes made payable at said bank or other banks in this State, and inland bills of exchange which may be discounted and owned by said bank, shall be, and are hereby, put upon the same footing of foreign bills of exchange, and like remedies may be had thereon, jointly and severally, against drawers and indorsers. § 13. The stock in said bank shall be deemed personal property, and shall be assignable according to such rules as the directors shall, from time to time, establish. 14. This act is declared to be in force from and after its passage; and the corporators above named shall have all the power and authority of directors until their successors are elected. Approved March 27, 1880. CHAPTER 625. AN ACT relating to the Chicago, St. Louis, and New Orleans Railroad Company, and incorporating said company. WHEREAS, The Mississippi Central Railroad Company exeeuted a mortgage, of date May 1st, 1872, upon its road-bed, superstructure, and appurtenances, conveying thereby all its rights, property, privileges, and immunities and franchises, including its franchise to be a corporation in this State; and whereas, said mortgage was foreclosed by a sale of everything so mortgaged under decrees of the several United States cireuit courts of Mississippi, West Tennessee, and at Paducah, Kentucky, to certain purchasers and those persons organized into a corporate body under the laws of Kentucky, under the name of the Central Mississippi Railroad Company heretofore, to-wit, on 6th of November, 1877; and thereupon, on the 7th November, 1877, said Central Mississippi Railroad Company consolidated, by agreement of parties, and by authority of law, with the New Orleans, Jackson, and Great Northern Railroad Company into a corporation, under the name of the Chicago, St. Louis, and New Orleans Railroad Company; now, therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the organization of the said purchasers of the Mississippi Central Railroad into a corporation of this State, under the name of the Central Mississippi Railroad Company, and its consolidation with the New Orleans, Jackson, and Great Northern Railroad Company, into the corporation known as the Chicago, St. Louis, and New Orleans Railroad Company, under and in pursuance of the articles of consolidation entered into between them, is hereby ratified and confirmed as of the dates respectively of said organizations and consolidation; and the exercise within this State, by the said consolidated company, of all the tranchises, rights, liberties, privileges, and immunities mentioned in the act of the General Assembly of this Commonwealth, entitled "An act to authorize the Mississippi Central Railroad Company to extend their road into and through Kentucky," approved March 18, 1872, is hereby ratified and confirmed, and the said Chicago, St. Louis, and New Orleans Railroad Company is hereby declared a corporation of this State, and is invested with all the rights, liberties, privileges, immunities, and franchises mentioned in said act approved March eighteenth, eighteen hundred and seventy-two, as fully as if said act used the name of the Chicago, St. Louis, and New Orleans Railroad Company instead of the name of the Mississippi Central Railroad Company: Provided, That in the election of directors for the entire road, one director shall be elected who is a citizen of Kentucky. § 2. All acts and parts of acts in conflict herewith are hereby repealed; and this act shall take effect and be in force from and after its passage. Approved March 27, 1880. CHAPTER 626. AN ACT for the benefit of Taylor county. WHERAS, G. E. Johnson, late sheriff of Taylor county for the years 1875 and 1876, has paid in full the State revenue due from said county for those years, without having collected all of the same from the tax-payers of said county; and whereas, said Johnson has transferred to Taylor county his interest in and right to said unpaid taxes on his indebtedness to said county; now, therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: $1. That the Taylor county court be, and it is hereby, authorized to appoint a collector to collect the taxes unpaid in Taylor county for the years 1875 and 1876, and to take bond from such collector for the faithful performance of his duties. 2. That the collector appointed under the preceding section shall have all the powers, rights, and remedies for enforcing the collection of said taxes that sheriffs now have for collecting the State revenue; but before he enters upon the duties of said office he shall enter into bond, with sufficient |