scriptions.

58. If, at the expiration of the time mentioned in the Further subsixth section of this act, it shall appear that more than the requisite number of shares has been subscribed, it shall be the duty of the commissioners to distribute the same among the subscribers in such manner as they shall deem equitable and proper.

$9. In case the capital stock shall not be fully taken Ib. up during the time specified in the preceding sixth section, it shall be the duty of the commissioners, from time to time, to take such further measures as they may deem necessary in order to fill up the subscriptions for the stock. $10. The concerns of the corporation shall be managed Directors. by seven directors, to be chosen annually by and from among the stockholders.

11. As soon as may be after the stock shall have been Notice, thus apportioned, the commissioners shall give a notice of the time and place at which a meeting of the stockholders will be held for the choice of directors; such notice shall be published once in each week for three weeks successively prior to the time therein appointed for such election, in a newspaper printed and published in the county of Washington.

4

$ 12. At the time and place appointed for that purpose, Election. the commissioners, or some of them, shall attend, and the stockholders, or their proxies, duly appointed in writing, shall proceed to elect, by ballot, the requisite number of directors. The commissioners present shall preside at the election, and shall certify the result under their hands, which certificate shall be recorded in the books of the corporation, and shall be sufficient evidence of the election of the directors therein named. All future elections shall be conducted in the manner prescribed in the by-laws of the corporation.

S 13. Each stockholder shall be allowed as many votes votes. as he owns shares of the stock at the commencement of any such election, and a plurality of votes shall determine the choice; but no stockholder shall be allowed to vote at any election after the first for any stock that shall have been assigned to him at any time within thirty days prior to the time at which such election shall be held.

1

S 14. The directors shall hold their offices for one year Duration of following their election, and until others are elected in office. their stead; they shall appoint one of their number as president, and some suitable person a secretary of the corporation; they may also appoint such other officers as the interest of the corporation may require, who shall hold their offices at the pleasure of the directors.

Regulations.

Lands.

Petition to vice-chan

cellor.

His duty.

$15. In addition to the general powers given by the Revised Statutes to corporations, the corporation hereby created shall have power to prescribe the manner in which the said rail-road shall be used, by what the carriages to be used thereon may be propelled, and the rates of toll for the transportation of persons or property thereon; it shall have power also, by its officers, agents and servants, to enter upon any of the lands lying within the contemplated range of the said rail-road, for the purpose of examining, surveying and establishing its lines.

$ 16. In case the corporation shall not be able to acquire the title to the lands through which the said rail-road shall be laid, by purchase or voluntary cession, it shall be lawful for the said corporation to appropriate so much of such land as may be necessary to its own use for the purposes contemplated by this act, on complying with the provisions of the six following sections.

$17. The directors may present a petition to the vicechancellor of the fourth circuit, setting forth, by some proper description, the lands which are wanted for the construction of the said rail-road or the appendages thereto, and the names of the owners thereof, if known, distinguished with convenient certainty, if it can be done, the parcels claimed in severalty by the respective owners, and praying for the appointment of appraisers to assess the damages which the owners of such land will severally sustain by reason of the appropriation thereof by the said corporation to its own use.

$ 18. On the presentment of such petition, the said vicechancellor shall appoint a day for the hearing of the parties in interest, and shall direct such notice as he shall deem reasonable to be given of the time and place of hearing; and in case it shall appear that any of the owners of the said lands is a feme covert, an infant, or insane, or otherwise incompetent to take proper care of his or her interest, it shall be the duty of the said vice-chancellor to appoint some discreet and responsible person to act in the premises in his or her behalf.

Appraisers. $ 19. At the time appointed for such hearing, the said vice-chancellor shall appoint three disinterested freeholders, residents of the county of Washington, for the purpose of assessing such damages, and in the order for their appointment shall direct as to what lands are to be appropriated by the said corporation for the purposes aforesaid. S 20. The said appraisers, after being sworn before some officer authorised to administer oaths, honestly and impartially to assess such damages, shall proceed by viewing the said lands, and by such other evidence as the par

Their duty.

ties may produce before them, to ascertain and assess the damages which each individual owner will sustain by the appropriation of his land for the use or accommodation of such rail-road or its appendages; and in assessing such damages, the appraisers shall take into the account the benefit which will accrue to such owner by means of the passage of the said rail-road through his lands.

$ 21. The said appraisers shall make a report to the To roport. said vice-chancellor, in writing, under their hands and seals, reciting the order for their appointment, and specifying the several parcels of land described therein with all necessary certainty, the names of the owners of the respective parcels, if known, and if not known, stating that fact, and specifying also the damages which the owners of the said respective parcels will sustain by reason of the appropriation of the same for the purposes aforesaid; and in case either of the parties are dissatisfied with the assessment, the said vice-chancellor may, on the hearing of the parties in interest, modify the assessment as shall appear to be just.

taken and

used.

S 22. On payment of the damages thus assessed, to- Lands to be gether with the expenses of assessment, as the same shall be settled by the said vice-chancellor, or on depositing the amount thereof, for the use of such owners, in the bank of Whitehall, the said corporation shall immediately become entitled to the use of the said lands for the purposes aforesaid; and the report of the said appraisers, with the order of the said vice-chancellor modifying the same, in case the same shall have been modified, may be recorded in the proper office, in the same manner and with the like effect as deeds are recorded, without any other proof than the certificate of the said vice-chancellor that the report is genuine.

$ 23. The corporation shall be bound to repair all pub- Repairs. lic highways, bridges and water courses which may be injured in constructing the said rail-road or its appendages, and shall restore them, as far as practicable, to as good a condition as they were in before they became injured.

$ 24. The said corporation may establish such by-laws, By-laws. not inconsistent with the laws of the state, respecting the calling in of the capital stock, and prescribing the duties of its officers and servants, and for the regulation of its affairs, as may be deemed expedient.

$25. The said corporation shall be allowed two years Time allow from the passage of this act for the commencement of the ed. construction of the said rail-road; and in case the same shall not be completed within five years thereafter, the privileges herein granted shall be forfeited.

Penalty.

Account to

be filed.

Road may be

the state.

$ 26. Every person who shall wilfully injure the said rail-road, or any of its appendages, shall forfeit to the use of the said corporation a sum equal to three times the amount of damages occasioned by such injury, to be recovered with costs of suit, in the name of such corporation, in an action of debt, before any court having cognizance thereof.

$27. The directors of the said corporation for the time being shall, at the end of every year after the construction of the said rail-road shall have been commenced, and for the term of fifteen years after the same shall have been completed, cause to be filed in the office of the secretary of state a detailed account of all the moneys expended during the year in constructing the said rail-road and its appendages, and in superintending and keeping the same in repair, and a similar account of the income derived from, by tolls or otherwise, from the use of the said rail-road; to the end that a just estimate may be made of the profits received by the said corporation therefrom; such accounts shall be verified by the oaths of at least two of the directors or other officers of the said corporation.

$28. If the legislature of this state shall, at the expirapurchased by tion of ten and within fifteen years from the completion of said road, make provision by law for the repayment to the said company of the amount expended by them in the construction of said rail-road, together with all moneys expended by them for permanent fixtures for the use of said rail-road, with interest, at the rate of ten per cent per annum, together with all moneys expended by said company for repairs or otherwise, after deducting the amount of tolls received on said road, then the said rail-road, with all fixtures and appurtenances, shall vest in and become the property of this state.

General provisions.

Rights reserved.

$29. The said corporation shall be subject to the provisions and liabilities prescribed by the third title of the eighteenth chapter of the first part of the Revised Statutes.

S30. The legislature may at any time alter, modify or repeal this act.

CHAP. 240.

AN ACT in commemoration of the services and in honor of the memory of George Washington.

Passed April 26, 1833.

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

created.

$1. Morgan Lewis, John Trumbull, John R. B. Ro- Corporation gers, Nicholas Fish, Jonas Addoms, David Brooks, Aaron Burr, Theodosius Fowler, Abraham Leggett, Jacob Morton, William Popham, Ebenezer Storer, all surviving officers of the revolution; and James I. Roosevelt. Daniel Stanton, Qunicy C. De Grove, Samuel S. Howland, John R. Marshall, Charles W. Timpson, Samuel Gilford junior, William Adee, David Graham junior, Saul Alley, Philip Hone, Samuel Stevens, Peter Schermerhorn, Joel Curtis, Henry Wyckoff, Charles G. Ferris, Joseph N. Lord, John Morrison, L. W. Stevens, Morgan L. Smith, Henry Arcularius, Asher Martin, Henry Hone, William Paulding, Jacob Lorillard, George D. Strong, John R. Rhinelander, P. M. P. Durando, John W. Walker, Dennis McCarthy, Abraham Dally, Gilbert Hopkins, Thomson Price, Edward Smylie, Joseph Hoxie, Daniel B. Tallmadge, Erastus Barnes, Stuart F. Randolph, John B. Scott, Hendrich Booraem, Charles Oakley, James N. Wells, John R. Peters, Calvin Griswold, Timothy Whittemore, Stephen Allen, Samuel Purdy, Mangle M. Quackenbos, Edward Dayton, Samuel G. Willis, Peter Pinckney, Henry P. Robertson, Francis Fickett, William Lee, Fyler Dibblee, Charles H. Hall, James Flanagan, Lodowick Fich, Samuel E. Thistle, Edward C. Cooper, Alexander Stewart, Drake B. Palmer, Thomas Hall, Andrew Mills, George W. Gantz, Charles Town, Lambert Suydam, Benjamin M. Brown, William F. Pratt, Philip W. Engs, Samuel Ward, Otis Loomer, William Frazee, Benjamin Birdsall, James B. Murray, delegates of the respective wards of the city of New-York, for the purposes hereinafter mentioned; and the mayor, recorder and the presidents of the two boards of the common council of said city for the time being, are hereby declared the directors of a body corporate, in name and in fact, by this act created, under the title of "The New-York Washington Monument Association," to continue as such corporate body for the term of thirty years.

$ 2. The capital of the New-York Washington monu- Capital ment association shall be one hundred thousand dollars.