First town meeting.

Property.

Repeal.

Justices.

Hudson, and runs south sixty-six degrees east, one hundred and twenty chains sixteen links, passing two chains south of the south end of the brick dwelling-house of the heirs of Frasure Serjent, deceased, to a hickory tree standing on the east bank of the Claverack creek; then down along the same, to the northwest corner of the town of Claverack; then easterly, along the north line of the said town of Claverack, twenty chains; thence northerly in a straight line to the corner of the towns of Kinderhook, Ghent and Stuyvesant; thence due west, to the bed of the Kinderhook creek; then up along the middle of said creek, to the northeasterly side of the bridge over said creek, at Coventry and Wardle's falls; then northerly, to the division line between the lands of Richard I. Yoes and John W. Wardle and his brother; then a direct line between the buildings of said Yoes and said Wardle, to the north bounds of the house of Jesse Ackerly near the little Nutten Hook, on the Hudson river; then along the river to the place of beginning, shall constitute a new town, by the name Stockport; and the first town-meeting for the choice of town officers shall be held on the first Tuesday of May next, at the store of Casparus C. Hoes, in said

town.

$ 2. Garret Burghart, Jeremiah Mandeville and Ezekiel Butler, or any two of them, may preside at the first town-meeting in the said town of Stockport, and shall have and possess full and sufficient power to appoint a clerk, and keep the polls in said town at such town-meeting.

S3. All the property now belonging to the said city of Hudson, and the said towns of Ghent and Stuyvesant, shall continue with, and belong to the said city and towns respectively, any thing herein, or in the Revised Statutes contained, to the contrary notwithstanding.

S 4. So much of the act, entitled "An act concerning Columbiaville, supplementary to an act concerning the Columbia manufacturing society, passed twenty-first of February, eighteen hundred and twelve," passed April the thirteenth, one thousand eight hundred and twentyseven, and all acts amendatory thereof, so far as this incorporates the village of Columbiaville, are hereby repealed.

$5. The justices of the peace which shall be elected at the first town-meeting in said town shall immediately enter upon the duties of their office; and the justice drawing the shortest term shall hold his office until the first day of January next, and no longer; but the justices now in of fice, within the limits of said town, shall continue to be

justices for said town, until the expiration of the terms for which they may have been respectively elected.

$6. The bridge over the Kinderhook creek, at Wardle Bridge. and Coventry's falls shall be forever hereafter maintained, repaired and kept up at the joint expense of the towns of Stockport and Stuyvesant.

$7. This act shall take effect immediately on its final To take of

passage.

fect.

CHAP. 187.

AN ACT in relation to taking the testimony of witnesses conditionally.

Passed April 20, 1833.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

$1. In all actions pending in the supreme court, supreme court commissioners shall have the like power as is given to the judges of courts of record, by article first of title third of chapter seventh of the third part of the Revised Statutes, to be exercised upon the like terms and conditions, and with the like effect, as is specified in said article.

CHAP. 188.

AN ACT to authorise John B. Church to erect a dam across the Genesee river, in the town of Amity, in the county of Allegany.

Passed April 20, 1833.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

$1. It shall and may be lawful for John B. Church, his Dam. heirs or assigns, and they are hereby authorised, to erect and maintain a dam across the Genesee river, at his farm, in the town of Amity, in the county of Allegany; but if it shall at any time become necessary or expedient to navigate said river at the place where said dam is hereby authorised to be erected, then the said John B. Church, or his successors in the right of said dam, shall erect an apron or lock in the same, of such construction as to render the passage for rafts and other craft safe and easy down the said river, when it may become necessary or advantageous

Saving

clause.

Rights re served.

Name.

Corporation created.

Banking powers.

Real estate.

to navigate the same, during the continuance of said dam. The construction of said dam shall in nowise affect the rights of individuals who may be injured by the erecting and continuing the same.

$ 2. Nothing in this act shall be construed to prevent the legislature at any time from authorising the drawing "from the said river the waters thereof, for navigable or for manufacturing purposes, when in their opinion the public interest may require the same.

$ 3. It shall be lawful for the legislature, at any time hereafter, to alter, modify or repeal this act.

CHAP. 189.

AN ACT to incorporate the president, directors and company of the Seventh Ward Bank, in the city of New-York. Passed April 20, 1833.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

$1. There shall be established in the city of NewYork a bank, to be called the "Seventh Ward Bank," whose operations of discount and deposit shall be carried on in the seventh ward of the city of New-York, and not elsewhere.

S2. All persons who shall become holders of the capital stock of the said bank, pursuant to this act, shall be, and the same are hereby, constituted a body corporate, by the name of "The President, Directors and Company of the Seventh Ward Bank;" and such corporation shall continue until the first day of January, in the year one thousand eight hundred and sixty-three.

S3. The said corporation shall have power to carry on the business of banking, by discounting bills, notes and other evidences of debt; by receiving deposits; by buying and selling gold and silver bullion, foreign coins and, bills of exchange; by issuing bills, notes and other evidences of debt; and by exercising such other incidental powers as shall be necessary to carry on such business.

$ 4. The real estate which it shall be lawful for the said corporation to purchase, hold and convey, shall be,

1. Such as shall be requisite for its immediate accommodation in the convenient transaction of its business; or, 2. Such as shall have been mortgaged to it in good faith, by way of security for loans previously contracted, or for moneys due; or,

3. Such as shall have been conveyed to it in satisfaction of debts previously contracted in the course of its dealings; or,

4. Such as shall have been purchased at sales upon judgments, decrees or mortgages, obtained or made for such debts.

The said corporation shall not purchase, hold or convey real estate in any other case, or for any other purpose.

$ 5. The said corporation shall not, directly or indirect- Restriction. ly, deal or trade in buying or selling any goods, wares, merchandize or commodities whatsover, or in buying or selling any stock created under any act of the United States, or of any particular state, unless in selling the same when truly pledged by way of security for debts due to the said corporation.

$ 6. The capital stock of the said corporation shall be Stock. five hundred thousand dollars, to be divided into ten thousand shares, of fifty dollars each; and James Whiting, Abraham Dally, James Morgan, John A. Haven, William Scott, Henry Erven and William S. Coe, are hereby appointed commissioners to receive subscriptions to the said capital stock,

book.

S7. The commissioners, or a majority of them, shall Subscription open a subscription book for the said stock, on such day and at such place in the city of New-York as they shall appoint; and shall give at least fourteen days' previous notice of such time and place, in one or more of the newspapers printed in that city, and in the state paper.

open three

S 8. The book for subscriptions shall be kept open at To be kept least three days, for six hours each day; and the sum of days. five dollars on each share subscribed for shall be paid to the said commissioners at the time of making such subscription. Such payment shall be made in specie or current bank bills; and no check, draft, or certificate of deposit, shall be received.

$9. If the whole of the capital stock be not taken up Further subduring the said three days, the said commissioners may scriptions. receive further subscriptions, on such other day and at such place in the city of New-York as they, or a majority of them, shall from time to time appoint, until the whole capital stock of the corporation shall be taken up, giving public notice thereof, as directed in the seventh section of this act.

of stock.

$10. The commissioners shall proceed, within four Distribution months after the passage of this act, to distribute the capital stock of the said corporation among the subscribers

Names to be published.

Expense.

Restriction.

Directors.

thereto; and in case there should be subscriptions to more than the amount of such stock, within the said three days, it shall be the duty of the said commissioners to apportion the same among the subscribers thereto, in such manner as a majority of them shall deem most advantageous to the interests of the institution; and there shall not be allowed to any one of the subscribers or commissioners, directly or indirectly, or to any one in trust for him, more than one hundred shares of said stock, if, without such allowance, the whole stock be taken up.

$ 11. The commissioners shall, within ten days after the distribution of said stock, publish in one of the newspapers published in the city of New-York, a full and complete statement of all of the subscribers for the same, with their places of residence, the number of shares by each subscribed for, and the number of shares allotted to each of them; which statement shall be sworn to by the commissioners.

$ 12. The expenses incurred by the commissioners in executing any duties required by this act, shall be paid out of the moneys received by them from subscribers to whom stock shall be distributed.

S13. No corporation, having banking powers under the authority of this state, or of the United States, shall be permitted or authorised, directly or indirectly, to subscribe for any part of the capital stock of the corporation by this act created, nor to purchase, take or hold any part of such stock, except when the same shall be hypothecated in good faith in security for a debt or loan; and in such case, the shares of stock so hypothecated shall be sold within sixty days after such debt shall become due, according to the terms of such hypothecation; and if not so sold, the same shall be forfeited, and shall belong to the fund created by the "Act to create a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2d, 1829; and the commissioners directed to be appointed by the said act shall take the necessary measures to appropriate the same accordingly, and shall sell the same as soon as may be, and pay the proceeds to the comptroller for the benefit of the said fund.

S14. The stock, property, affairs and concerns of the said corporation shall be conducted by thirteen directors, being stockholders of the said corporation, and citizens of this state; but no person shall be a director who shall not, at the time of his appointment, hold on his own account, and not in trust in any manner whatsoever for any other