Oath Bond. Accounts to be rendered. Visitors When to take effect. treasurer, from their own number, and shall severally take and subscribe an oath to faithfully discharge the duties of trustees, and deposit the same with the county auditor. They shall, also, before taking possession of the property, moneys or effects, constituting the endowment or trust, severally give bond, in such sum as the court may require, with two or more sufficient sureties, to be approved by a judge of said court, whose approval shall be indorsed on the bonds, conditioned for the faithful management of the property, moneys and effects, entrusted to them and accountability therefor in such form as the court or judge may require; and the court may, from time to time, require additional bonds and surety, as may appear necessary for the preservation of the trust estate. The bonds required shall be payable to the State of Ohio, and deposited in the office of the county auditor for safe keeping. SEC. 5. The trustees shall, on the second Monday of September, in each year, and at such other times as the court may require, render a full and accurate account, statement and exhibit, of the condition of the school or academy under their management, and the condition of the trust estate and funds; and shall cause the same to be published in such form as the court may direct; which account, statement and exhibit, shall be sworn to by the president, secretary and treasurer, or some two of them. SEC. 6. The court of common pleas of the proper county, shall annually, at the first session after the second Monday in September, appoint three competent and disinterested persons, who shall have authority to visit any such school or academy and examine the same, together with the condition of the trust estate or endowment, and shall report thereon to the court making the appointment. The court shall also authorize such other visitations and examinations as may appear to be necessary. SEC 7. This act shall apply to endowments heretofore created, a well as to those hereafter created, and shall take effect from and after its passage. N. H. VAN VORHES, Speaker of the House of Representatives. THOMAS H. FORD, President of the Senate. March 26, 1856. AN ACT To amend an act entitled "an act to create a permanent agricultural fund in Curwen's R the State of Ohio, and for other purposes." S. 1342. Escheated SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That any escheated lands in the State of Ohio, which may not yet be sold, or which may hereafter escheat, and be subject to sale under the act to which this is an amendment, lands to be shall, and the same is hereby authorized to be sold in the sold for use of same manner as is authorized in said act, for the benefit and agricultural for the use of the regularly organized agricultural society within the county in which the said escheated lands may be situate-provided that the amount thus paid to the said agricultural society, shall not in any one case exceed six hundred dollars. societies. SEC. 2. That the excess of any escheated lands sold under Excess of the provisions of this act, over and above six hundred dollars, proceeds. being the proceeds of any one sale, shall not in any manner be changed from the disposition intended to be made by the act aforesaid. SEC. 3. That so much of the act to which this is an amendment, as conflicts with the provisions of this act, be and the same is hereby repealed. N. H. VAN VORHES, President of the Senate. March 29, 1856. AN ACT To enable railroad companies to fund their floating debts. SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That every railroad company within this State whose liabilities exceed the amount of its capital stock actually paid in, may issue and dispose of preferred stock to an amount not exceeding the difference between its stock actually paid in and the entire amount of its debts. SEC. 2. It shall be lawful for such railroad company to guarantee to the holders of such preferred stock semi-annual dividends to an amount not exceeding seven per centum, per annum, payable at its office, or at such other place as the directors may designate. Preferred stock. Guaranty to holders. Dividends to other stock. Privilege of redemption. Affidavit. Bonds for payment of unfunded debts. SEC. 3. The unpreferred stock of the company shall be entitled to dividends only out of the surplus of the profits, after setting apart a sum sufficient to pay the dividends upon the preferred stock. SEC. 4. The company issuing such preferred stock may reserve the privilege of redeeming and cancelling the same at par at any time after three years from the date of its issue. SEC. 5. Before any stock shall be issued under this act, the directors of the company desiring the same shall cause to be filed in the office of the auditor of this State, the affidavit of the president or the secretary of such company, setting forth that the assent of the holders of two-thirds of the existing stock of the company has been obtained to the issue of such preferred stock, and that written evidence of that assent is on file in the office of the company. SEC. 6. Any railroad company heretofore or that may hereafter be incorporated, under the laws of this State, for the purpose of paying its unfunded debts, may issue its bonds, convertible or otherwise, bearing any rate of interest not exceeding seven per centum per annum, to an amount not exceeding two thirds of its authorized capital stock, and sell the same at such times, and at such places, within or without this State, and at such rates as the directors of such company may deem best for its interests; and if such bonds are sold at a discount, they shall be as valid in every respect as if sold at their par value, and such company may secure such bonds by a mortgage on its property or otherwise, and may at its option, increase its capital stock in an amount equal to the bonds issued as aforesaid. N. H. VAN VORHES, Speaker of the House of Representatives. THOMAS H. FORD, President of the Senate. March 29, 1856. Vice Presi dents of rail. road compa nies. AN ACT To authorize railroad companies to appoint a Vice President and to define his duties. SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That the directors of any railroad company now incorporated, or that may hereafter be incorporated in this State, shall elect, from their number, a vice president, whenever, in their opinion, the interests or convenience of such company may require it. In case of the absence, death, Speaker of the House of Representatives. President of the Senate. March 29, 1856, AN ACT Supplementary to an act defining the powers and duties of justices of the Curwen's R. peace and constables in criminal cases. S. 340. SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That whenever any person or persons shall be arrested for committing any offence, which by the laws of this State is punishable by fine or by imprisonment in the county jail, or by both fine and imprisonment in said county jail, he or they shall be admitted by the mayor or justice before When persons whom he or they shall be brought, to plead guilty to the arrested plead guilty, justice charge preferred, and the mayor or justice before whom may impose such plea shall be pleaded, is hereby authorized to impose punishment. upon the offender or offenders such punishment as is by law affixed to the offense committed, or in his discretion to recognize such offender or offenders to appear at the next Or recognize. term of the proper court to answer concerning the same as in other cases, and such justice when he pronounces final sentence, is authorized to examine witnesses to ascertain the circumstances under which the offense may have been committed: Provided that the provisions of this act shall Proviso. not extend to the punishment of crimes or offences mentioned in an act entitled "an act to punish certain crimes therein named," passed March 18, 1839, nor of the crimes or offences enumerated in the act entitled "an act to provide for the punishment of certain crimes therein named,” passed February 27, 1834. N. H. VAN VORHES, March 29, 1856. President of the Senate. ted. AN ACT To establish the superior court of Montgomery county. Superior court SECTION 1. Be it enacted by the General Assembly of the State of Montgomof Ohio, That there shall be, and hereby is, established within ery county,how constitu. the county of Montgomery, a court of record, which shall be styled "the superior court of Montgomery county," and which shall be held by one judge, who shall be elected by the electors of Montgomery county, and shall hold his office for the term of five years. Election of judge Vacancies. Election. Oaths and removal. Seal. Clerk. Bond. SEC. 2. The first election for judge of said court shall be held on the first Monday of June, 1856; and the official term of said judge shall commence on the first day of July, 1856; all subsequent elections for judge of said court shall be held on the second Tuesday of October next preceding the expiration of the regular term of any such judge; and in case the office of any such judge shall become vacant before the expiration of the regular term for which he shall have been elected, the vacancy shall be filled by appointment by the Governor, until the office shall be filled by a successor duly elected and qualified, and in case a successor shall not have been previously elected, such successor shall be elected for the unexpired term on the second Tuesday of October that next occurs more than thirty days after the have happened. vacancy shall SEC. 3. The election for judge of said court shall be held in the county of Montgomery, and shall be conducted in the manner prescribed in an act entitled "an act to regulate the election of State and county officers," passed May 3, 1852, except that the abstract and certificate of the first election shall be transmitted by the clerk of the court of common pleas of Montgomery county, to the governor, who shall issue a commission to the person elected. SEC. 4. The judge of said court shall take the same oath and be removed for the same causes as judges of the court of common pleas. SEC. 5. The said court shall have a seal, to be provided by, the secretary of state, at the expense of the state, having the same device as the seal of the court of common pleas, except that there shall be engraved around the margin thereof, the words "superior court of Montgomery county," instead of the words "common pleas of the county of SEC. 6. The clerk of the court of common pleas of Montgomery county shall be the clerk of said court hereby established; and besides the bond now required of him by law, shall give an additional bond, in not less than ten thousand dollars, nor more than thirty thousand dollars, to the acceptance of the commissioners of Montgomery county, conditioned that he will truly and faithfully pay over all moneys that may be by him received in his official capacity as clerk |