Chap. 372.—An ACT to Incorporate the Powell’s River Navigation Com-
pany and to Prescribe the Duties thereof.

Approved April 2, 1873.

1. Be it enacted by the general assembly, That Dickson S.
Litton, John W. Carnes, L. C. Shelbourne, C. L. Hamblin,
Marion D. Richmond, John M. Couk, Campbell Slemp, M. B.
D. Lane, James W. Orr, G. McD. Moneyhun, James M. Mc-
Elroy, James Jayne, and such other persons as may associate
themselves with the above, are hereby constituted a body cor-
porate, by the name of Powell's River Navigation Company, and
by that name may sue and be sued, may have a corporate seal
and may prescribe by-laws for their own government.

2. They shall have a capital stock of not less than five hun-
dred dollars, and not more than ten thousand dollars, to be
divided into shares of twenty dollars each.

3. They may construct locks and dams, remove fish traps.
and all other unxuthorized obstructions in Powell’s river (con-.
fining their improvements to the county of Lee) so as to render
more easy and safe the passage down said river of flat-bottom
boats and timber rafts; and they may charge such tolls, fees
and rents for storage as they may deem proper: provided, all
such charges shall be approved by the county court of Lee
county, and entered of record among its proceedings.

4. Said company, in these improvements, shall not in any
way obstruct the ordinary passage of fish in said river.

5. They may acquire real property, erect warehouses, con-
struct boat yards and landings, and doany other act or acts in
furtherance of the objects of the company not inconsistent.
with this act or the laws of this state.

6. Books for subscription shall be opened at such times and
places as the incorporators herein named shall designate, and
the company shall organize as soon as the minimum stock shall
be subscribed, conforming their organization and other acts to.
the provisions of this act and the general laws of the state.

7. The president shall make an annual report to the stock-
holders, who shall furnish a copy thereof to the county court
of said county, on or before the October term thereof—such
report shal] show the number of boats and timber rafts that
have passed down said river each year, with what laden, and
the value thereof as near as may be; the amounts received and
expended by said company; the amount of capital stock and
the amounts expended in improvements.

8. The company shall have power to issue their bonds for
an amount equal to the whole stock subscribed, bearing any
legal rate of interest deemed proper by said board.

9. Any person felling timber or otherwise wilfully obstruct-
ing the navigation of said river, whereby any damage may
accrue to any boats or timber rafts floated down said river, in
addition to being liable to the owner thereof for such damages,
shall be deemed guilty of a misdemeanor, and on conviction
thereof shall be fined not less than fifty nor more than five
hundred dollars, to be paid to the treasurer for the benefit of
said company.

10. This act shall be in force from and after its passage.