Sec. 2. When the certificate shall have been filed, as aforesaid, the persons who shall have signed and acknowledged the same, and their successors, shall be a body politic and corporate, in fact and in name, by the name stated in such certificate; and by that name have succession, and shall be capable of suing and being sued in any court of law or equity in this State, and they and their successors may have a common seal, and may make and alter the same at pleasure; and they shall, by their corporate name, be capable in law of purchasing, holding, and conveying any real and personal estate whatever, which may be necessary to enable the said company to carry on their operations named in such certificate, but shall not mortgage the same or give any lien thereon.

Sec. 3. The stock, property, and concerns of such company shall be managed by not less than three, nor more than nine trustees, who shall respectively be stockholders in such company and citizens of the United States, and a majority of whom shall be citizens of this State, who shall, except the first year, be annually elected by the stockholders, at such time and place as shall be directed by the by-laws of the company; and public notice of the time and place of holding such election shall be published, not less than ten days previous thereto, in the newspaper printed nearest to the place where the operations of the said company shall be carried on; and the election shall be made by such of the stockholders as shall attend for that purpose, either in person or by proxy. All elections shall be by ballot, and each stockholder shall be entitled to as many votes as he owns shares of stock in the said company, and the persons receiving the greatest number of votes shall be trustees; and when any vacancy shall happen among the trustees, by death, resignation or otherwise, it shall be filled for the remainder of the year in such manner as may be provided for by the by-laws of the said company.

Sec. 4. In case it shall happen at any time, that an election of trustees shall not be made on the day designated by the by-laws of said company, when it ought to have been made, the company for that reason shall not be dissolved, but it shall be lawful on any other day, to hold an election for trustees, in such manner as shall be provided for by the said by-laws, and all acts of trustees shall be valid and binding as against such company, until their successors shall be elected.

Sec. 5. There shall be a President of the company, who shall be designated from the number of the trustees, and also such subordinate officers as the company by its by-laws may designate, who may be elected or appointed and required to give such security for the faithful performance of the duties of their office as the company by its by-laws may require.

Sec. 6. It shall be lawful for the trustees to call in and demand from the stockholders respectively, all such sums of money by them subscribed, at such times, and in such payments or instalments as the trustees shall deem proper, under the penalty of forfeiting the shares of stock subscribed for, and all previous payments made thereon, if payment shall not be made by the stockholders within sixty days after a personal demand or notice requiring such payment shall have been published for six successive weeks in the newspaper nearest to the place where the business of the company shall be carried on as aforesaid.

Sec. 7. The trustees of such company shall have power to make such prudential bylaws as they shall deem proper for the management and disposition of the stock and business affairs of such company, not inconsistent with the laws of this State, and prescribing the duties of officers, artificers, and servants that may be employed; for the appointment of all officers, and for carrying on all kinds of business within the objects and purposes of such company.

Sec. 8. The stock of such company shall be deemed personal estate, and shall be transferable in such manner as shall be prescribed by the by-laws of the company; but no shares shall be transferable until all previous calls thereon shall have been fully paid in, or shall have been declared forfeited for the non-payment of calls thereon: And it shall not be lawful for such company to use any of their funds in the purchase of any stock in any other corporation.

Sec. 9. The copy of any certificate of incorporation, filed in pursuance of this act, certified by the county clerk or his deputy, to be a true copy, and of the whole of such certificate, shall be received in all courts and places, as presumptive legal evidence of the facts therein stated.

Sec. 10. All the stockholders of every company incorporated under this act, shall be severally, individually liable to the creditors of the company in which they are stockholders, to an amount equal to the amount of stock held by them respectively for all debts and contracts made by such company, until the whole amount of capital stock fixed and limited by such company shall have been paid in, and a certificate thereof shall have been made and recorded as prescribed in the following section; and the capital stock, so fixed and limited, shall all be paid in, one-half thereof within one year, and the other half thereof

within two years from the incorporation of said company, or such corporation shall be dissolved.

Sec. 11. The president and a majority of the trustees, within thirty days after the payment of the last instalment of the capital stock, so fixed and limited by the company, shall make a certificate stating the amount of the capital so fixed and paid in; which certificate shall be signed and sworn to by the president and a majority of the trustees; and they shall, within the said thirty days, record the same in the office of the county clerk of the county wherein the business of the said company is carried on.

Sec. 12. Every such company shall annually, within twenty days, from the first day of January, make a report which shall be published in some newspaper, published in the town, city, or village, or if there be no newspaper published in said town, city, or village, then in some newspaper published nearest the place where the business of said company is carried on, which shall state the amount of capital, and of the proportion actually paid in, and the amount of its existing debts, which report shall be signed by the president and a majority of the trustees; and shall be verified by the oath of the president or secretary of the said company, and filed in the office of the clerk of the county where the business of the company shall be carried on; and if any of said companies shall fail so to do, all the trustees of the company shall be jointly and severally liable for all the debts of the company, then existing, and for all that shall be contracted before such report shall be made.

Sec. 13. If the trustees of any such company shall declare and pay any dividend when the company is insolvent, or any dividend, the payment of which would render it insolvent, or which would diminish the amount of its capital stock, they shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted, while they shall respectively continue in office:

Provided, That if any of the trustees shall object to the declaring of such dividend or to the payment of the same, and shall at any time before the time fixed for the payment thereof, file a certificate of their objection in writing with the clerk of the company and with the clerk of the county, they shall be exempt from the said liability.

Sec. 14. Nothing but money shall be considered as payment of any part of the capital stock, and no loan of money shall be made by any such company to any stockholder therein; and if any such loan shall be made to a stockholder, the officers who shall make it, or who shall assent thereto, shall be jointly and severally liable to the extent of such loan and interest, for all the debts of the company contracted before the repayment of the sum so loaned.

Sec. 15. If any certificate or report made, or public notice given, by the officers of any such company, in pursuance of the provisions of this act, shall be false in any material representation, all the officers, who shall have signed the same, knowing it to be false, shall be jointly and severally liable for all the debts of the company, contracted while they are stockholders or officers thereof.

Sec. 16. No person, holding stock in any such company, as executor, administrator, guardian, or trustee, and no person, holding such stock as collateral security, shall be personally subject to any liability as stockholder of such company; but the person pledging such stock shall be considered as holding the same, and shall be liable as a stockholder accordingly, and the estates and funds in the hands of such executor, administrator, guardian, or trustee, shall be liable in like manner, and to the same extent as the testator or intestate, or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.

Sec. 17. Every such executor, administrator, guardian, or trustee, shall represent the share of stock in his hands at all meetings of the company, and may vote accordingly as a stockholder; and every person who shall pledge his stock as aforesaid, may, nevertheless, represent the same at all such meetings, and may vote accordingly as a stockholder. Sec. 18. The stockholders of any company, organized under the provisions of this act, shall be jointly and severally individually liable for all debts that may be due and owing to all their laborers, servants, and apprentices, for services performed for such corporation. Sec. 19. The legislature may at any time alter, amend, or repeal this act, or may annul, or repeal any incorporation formed or created under this act; but such amendment or repeal shall not, nor shall the dissolution of any such company, take away or impair any remedy given against any such corporation, its stockholders or officers, for any liability which shall have been previously incurred.

Sec. 20. Any corporation or company heretofore formed, either by special act or under the general law, and now existing for any manufacturing, mining, mechanical, or chemical purposes, or any company which may be formed under this act, may increase or diminish its capital stock by complying with the provisions of this act, to any amount which

may be deemed sufficient and proper for the purposes of the corporation, and may also extend its business to any other manufacturing, mining, mechanical, or chemical business, subject to the provisions and liabilities of this act. But before any corporation shall be entitled to diminish the amount of its capital stock, if the amount of its debts and liabilities shall exceed the amount of capital to which it is proposed to be reduced, such amount of debts and liabilities shall be satisfied and reduced so as not to exceed such diminished amount of capital; and any existing company, heretofore formed under the general law, or any special act, may come under and avail itself of the privileges and provisions of this act, by complying with the following provisions, and thereupon such company, its officers and stockholders, shall be subject to all the restrictions, duties, and liabilities of this act. Sec. 21. Whenever any company shall desire to call a meeting of the stockholders, for the purpose of availing itself of the privileges and provisions of this act, or for increasing or diminishing the amount of its capital stock, or for extending or changing its business, it shall be the duty of the trustees to publish a notice, signed by at least a majority of them, in a newspaper in the county, if any shall be published therein, at least three successive weeks, and to deposit a written or printed copy thereof in the post-office, addressed to each stockholder at his usual place of residence, at least three weeks previous to the day fixed upon for holding such meeting; specifying the object of the meeting, the time and place, when and where such meeting shall be held, and the amount to which it shall be proposed to increase or diminish the capital, and the business to which the company would be extended or changed; and a vote of at least two-thirds of all the shares of stock shall be necessary to an increase or diminution of the amount of its capital stock, or the extension or change of its business, as aforesaid, or to enable a company to avail itself of the provisions of this act.

Sec. 22. If, at any time and place specified in the notice provided for in the preceding section of this act, stockholders shall appear in person or by proxy, in number representing not less than two-thirds of all the shares of stock of the corporation, they shall organize by choosing one of the trustees chairman of the meeting, and also a suitable person for secretary, and proceed to a vote of those present, in person or by proxy; and if, on canvassing the votes, it shall appear that a sufficient number of votes has been given in favor of increasing or diminishing the amount of capital, or of extending or changing its business, as aforesaid, or for availing itself of the privileges and provisions of this act, a certificate of the proceedings, showing a compliance with the provisions of this act, the amount of capital actually paid in, the business to which it is extended or changed, the whole amount of debts and liabilities of the company, and the amount to which the capital stock shall be increased or diminished, shall be made out, signed and verified by the affidavit of the chairman, and be countersigned by the secretary; and such certificate shall be acknowledged by the chairman, and filed as required by the first section of this act, and when so filed, the capital stock of such corporation shall be increased or diminished, to the amount specified in such certificate, and the business extended or changed as aforesaid, and the company shall be entitled to the privileges and provisions, and be subject to the liabilities of this act, as the case may be.

Sec. 23. If the indebtedness of any such company shall at any time exceed the amount of its capital stock, the trustees of such company assenting thereto shall be personally and individually liable for such excess to the creditors of such company.

Sec. 24. No stockholder shall be personally liable for the payment of any debt contracted by any company formed under this act, which is not to be paid within one year from the time the debt is contracted, nor unless a suit for the collection of such debt shall be brought against such company, within one year after the debt shall become due ; and no suit shall be brought against any stockholder who shall cease to be a stockholder in any such company, for any debt so contracted, unless the same shall be commenced within two years from the time he shall have ceased to be a stockholder in such company, nor until an execution against the company shall have been returned unsatisfied in whole or in part. Sec. 25. It shall be the duty of the trustees of every such corporation or company, to cause a book to be kept by the treasurer or clerk thereof, containing the names of all persons, alphabetically arranged, who are or shall, within six years, have been stockholders of such company, and showing their places of residence, the number of shares of stock held by them respectively, and the time when they respectively became the owners of such shares, and the amount of stock actually paid in; which book shall, during the usual business hours of the day, on every day, except Sunday and the fourth day of July, be open for the inspection of stockholders and creditors of the company, and their personal representatives, at the office or principal place of business of such company, in the county where its business operations shall be located; and any and every such stockholder, creditor, or representative, shall have a right to make extracts from such book; and no transfer of stock shall be valid for any purpose whatever, except to render the person to whom it shall

be transferred liable for the debts of the company, according to the provisions of this act, until it shall have been entered therein, as required by this section, by an entry showing to and from whom transferred. Such book shall be presumptive evidence of the facts therein stated, in favor of the plaintiff, in any suit or proceeding against such company, or against any one or more stockholders. Every officer or agent of any such company, who shall neglect to make any proper entry in such book, or shall refuse or neglect to exhibit the same, or allow the same to be inspected, and extracts to be taken therefrom, as provided by this section, shall be deemed guilty of a misdemeanor, and the company shall forfeit and pay to the party injured, a penalty of fifty dollars for every such neglect or refusal, and all the damages resulting therefrom: And every company that shall neglect to keep such book open for inspection, as aforesaid, shall forfeit to the people the sum of fifty dollars for every day it shall so neglect, to be sued for and recovered, in the name of the people, by the district attorney of the county in which the business of such corporation shall be located; and when so recovered, the amount shall be paid into the treasury of such county for the use thereof.

Sec. 26. Every corporation created under this act shall possess the general powers and privileges, and be subject to the liabilities and restrictions contained in title third, of chapter eighteen, of the first part of the Revised Statutes.

Sec. 27. This act shall take effect immediately.*

ADULTERATION OF MEDICINE.

We take it for granted that the large and respectable number of persons engaged in the Drug and Medicine trade, who read the Merchants' Magazine, in this country at least, are innocent of the sins charged against the English manufacturers by the trustees of the College of Pharmacy, in New York, in the following passage from their printed circular:

:

Blue pill is imported containing a per centage of mercury from ten down to seven and a half, mixed with blue clay and Prussian blue, to give the proper design and color. Two importations of this kind, from the manufactory of William Bailey, of Wolverhampton, have already been exposed; the first in 1845, and the other recently. Its composition, according to the analysis of our Professor Reid, is mercury, earthy clay, Prussian blue, used in coloring, sand, in combination with the clay, soluble saccharine matters, insoluble organic matters, and water. Very large quantities of rhubarb, much decayed, the better parts of which are dark colored, with scarcely any taste or smell, having probably been exhausted to make extracts, come from England, invoiced there from 1 to 3 pence sterling per pound. It is intended and used for powdering, color being given to it by tumeric, &c. The article called oxide of zinc on the English labels, is generally carbonate of zinc, being imported, it is said, at a price which precludes the possibility of honest preparation. All that is received under the name of precipitated sulphur, or "lac sulphur," as the merchants commonly term it, except when it is expressly ordered from an honorable manufacturer, contains from 80 to 90 per cent of sulphate of lime. Opium is often invoiced at one-third the value of good quality, and is found upon examination not to be worth even that. The same may be said of scammony. Most of the foreign extracts are not what they profess to be, and cannot be relied upon in the treatment of disease. The salts of quinine, morphine, and all the more costly chemicals, are greatly adulterated. The agent of an English manufacturer of chemicals, extracts, and many other preparations used in medicine, has said, and his remarks are in print, that it is a regular and systematic business, carried on by his principal and others in his line, to make articles for the American market of different qualities-one for the Atlantic cities, and another, very much inferior," for the West ;" meaning thereby our Western States. He gives us, for instance, the following quotations: "Compound extract of colocynth, 9s. 6d.; do. for the West, 5s. ;" the latter, as we are allowed to infer, containing no scammony, only the poorest sort of aloes, and but little if any colocynth, or extract from it. Again we have, Blue Pill, 3s. 9d.; for the West, 1s. 8d." It is not wonderful, remarks Silliman's Journal, that such uncommon doses as we hear of are taken, and indeed required, at the West, and that disappointment is everywhere experienced by physicians in the action of medicines; and these examples are but few out of many that might be given.

*State of New York,

Secretary's Office. the said original.

I have compared the preceding with the original law on file in this office, and do certify that the same is a correct transcript therefrom, and of the whole of C. MORGAN, Secretary of State.

CHIKISWALUNGO IRON FURNACE, NEAR COLUMBIA, PA.

We find, in "Silliman's Journal of Science and Art" for March, 1848, an extract of a letter from S. S. Haldeman to the editors of that Journal, giving the following account of the Chikiswalungo Furnace:—

The Chikiswalungo Furnace is thirty-two feet high and eight feet greatest diameter, and is driven by a forty horse power engine. The bellows is sixty inches in diameter, its stroke five and a half feet, and its crank makes fourteen revolutions in a minute. It was built as a "forty ton" furnace; but, owing to the constant attention and the theoretical knowledge of my brother and partner, Dr. E. Haldeman, the average product is sixty-five tons a week. The following table exhibits an unusual good week's work, although, if scrap iron had been used with the ore, the result would have been one or two tons more. Anthracite coal and a hot blast are used.

NOTE-228,600 lbs. 102 tons, I cwt., 0 qr., 08 lbs. 366,500 lbs.=163 tons, 12 cwt., 1 qr., 08 lbs. 109,040 lbs. 48 tons, 13 cwt., 2 qr., 08 lbs.

Result of the above, 72 tons pig metal.

To explain the above. On the 26th of September the furnace was filled thirty-seven times, each charge containing 900 lbs. of coal, (making 33,300 lbs. in the twenty-four hours,) 1400 of ore, ("chestnut hill" hematite,) and 425 of flux. The engine consumes forty tons of coal a week, not taken into the above account; but we intend to make such alterations in the spring as will cut off this expense.

When a furnace is blown in, the hearth and stack being cold, the first ten days are counted as a week's work. Here follows the result of such a week, (of but eight days, however,) ending with the 30th of October last:

IMPROVEMENT IN THE MANUFACTURE OF IRON.

The attention of men of science has of late been much devoted to improvements in the mode of manufacturing iron, both as regards economy in the smelting department, and also in producing the finished material at the least possible cost. Among the improvements which have lately taken place, that of Mr. Low's will most decidedly rank as one of the first in importance, whether we consider it as simplifying the varied processes of iron manufacture, or, what is of still more importance, producing a superior commodity at a very reduced price. By Mr. Low's process pig iron can be puddled and made into very superior finished iron without the process of refining, with equal facility; and the loss in making a ton of finished bars from pig iron will be less than one-half that made in the ordinary manner. Mr. Low's process is a simple one, and consists in giving the raw material in its process of manufacture a much less degree of carbonization or oxydation, the two grand objects requisite for solidity of structure and hardness; for this purpose he uses black oxyde of manganese, plumbago or graphite, charcoal, and nitrate of either potash, soda, or lime, usually employing saltpetre. These ingredients are mixed together in the proportions specified by the patent; and to every charge of ore in the blast furnace likely to produce 480 lbs. weight of metal, he uses 66 lbs. of this mixture. In the puddling furnace he applies it to the metal in a fused state, by throwing upon the surface two or three pounds at a time, and gradually incorporating the requisite quantity. His patent extends to the application of this mixture to the manufacture of cast steel from malleable iron, adding two or three pounds to every 30 lbs. of steel when in the melting pots.