inconsistent with the constitution and laws of the U. A. D. 1811nited States or of this state. statement with the VI. And be it further enacted, That the directors Annual shall annually, on the third Tuesday of April, lay be to be lodged fore the stockholders a general statement of their ac-factor counts and proceedings, which same statement they shall cause to be lodged with the factor of the said corporation at least ten days before such annual meeting, for the inspection and examination of the stockholders. tate. Stock VII. And be it further enacted, That the stock of deemed the said corporation shall be deemed and considered personal espersonal property, and shall be assignable and transferable according to such rules as the president and directors shall make and establish, and no stockholder indebted to the said company shall be permitted to make a transfer or receive a dividend until such debt be paid or secured to be paid, to the satisfaction of the president and directors. And be it further enacted, That for all debts which shall be due and owing by the said company, the persons composing the said corporation at the time of its dissolution, shall be responsible in their individual and private capacity to the extent of their respective shares, and no further, on any suit or action to be brought or prosecuted after the dissolution of the said corporation. Use of capi tal restrict VIII. And be it further enacted, That the said com- ed. pany shall not apply any part of their capital to any other object than that of manufacturing woollen cloth as expressed in this act. Declared to act. IX. And be it further enacted, That this act be and be a publie it is hereby declared to be a public act, and that the same be for the time herein before limited construed in all courts and places favorably for every beneficial purpose therein mentioned. A. D. 1811. CHAP. XV. An ACT to amend an act, entitled "An act to incorporate the society of Mechanics aud Tradesmen of the county of Kings, for charitable purposes." WH Passed February 22d, 1811. HEREAS the said society has, by its petition presented to the legislature of this state, set forth that the said act is in some respect injurious to the prosperity and charitable purposes for which it was intended: Therefore, Be it enacted by the people of the state of New-York, represented in Senate and Assembly, That instead of the number of fifteen requisite to form a quorum in the act hereby amended, the necessary number of members to form a quorum shall be nine; and that so much of the aforesaid act hereby amended as makes it requisite for members of said society to be residents in said county of Kings, shall be and the same is hereby repealed. WH CHAP. XVI. An ACT for the relief of Adiel Sherwood, relative to certain class-rights. Passed February 22d, 1811. HEREAS Seth Sherwood, in his life time, by virtue of certain certificates of class-rights, was entitled to locate seven hundred acres of land; and whereas the legal representatives of the said Seth Sherwood have transferred the said class-rights to Adiel Sherwood: Therefore, Be it enacted by the people of the State of New-York, represented in Senate and Assembly, That the said Adiel Sherwood be allowed to locate the said class-rights upon any of the unappropriated lands belonging to the people of this state, not otherwise directed by law to be disposed of; and that the commissioners of the landoffice are hereby authorized and required to issue letters patent to the said Adiel Sherwood, his heirs and assigns, for the said seven hundred acres of land which may be so located. W CHAP. XVII. An ACT to incorporate the Westchester County Manufacturing Society. Passed February 22d, 1811. HEREAS Jonathan Ward and others have associated themselves for the purpose of manufacturing woollen and cotton cloths, paints, linen and cotton thread, in the county of Westchester: Therefore, A. D. 1811. Preamble. corporated. poration. er. I. Be it enacted by the people of the state of New D. Pelton & York, represented in Senate and Assembly, That Daniel thers inPelton, William Palmer, Jasper Ward, George Downing, Nathaniel Wells, John Mason, Henry Fanning, Samuel Tooker, Ichabod Prall and Jonathan Ward, and all such other persons as now are or shall hereafter be associated with them for that purpose, and their successors, be and hereby are ordained, constituted and declared to be a body corporate and politic, in fact and in name, by the name of " the Westchester coun- Style of cor ty Manufacturing Society," and by that name they and their successors, for twenty years hereafter, shall and Their pow may have succession, and shall be persons in law capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in all courts and places whatsoever, and in all manner of actions, suits and causes whatsoever; and that they and their successors may have a common seal, and may change and alter the same at their pleasure; and that they and their successors, by the name of the Westchester county manufacturing society, shall in law be capable of purchasing, holding and conveying any lands, tenements, hereditaments, goods, wares and merchandizes whatsoever, necessary for the objects of this incorporation. directors. II. And be it further enacted, That the stock, prop- Election of erty and concerns of the said corporation shall be managed and conducted by directors, who shall annually be elected on the first Saturday of May, at such time of the day, and at such place in the county of Westchester as the by-laws of the said corporation shall direct; and the election shall then and there be made by such of the stockholders as shall attend for that pur A. D. 1841. pose, either in person or by proxy; and all elections shall be by ballot, each share in the stock having one vote, and the persons having the greatest number of votes shall be directors; and the said directors, as soon as may be after their election, shall proceed to elect by President. ballot one of their number to be president; and whenever any vacancy shall happen among the directors, by death, resignation, or otherwise, such vacancy shall be filled for the remainder of the year by the remainder of the board for the time being, provided the number of directors shall not exceed seven persons; and the persons so elected shall be stockholders in the said corporation. Corporati on not dis not held on day. III. And be it further enacted, In case it should solved if e. at any time happen that an election of directors should lection be not be made on the day when pursuant to this act it a certain ought to have been made, the said corporation for that cause shall not be deemed to be dissolved, but it shall and may be lawful on any other day to hold an election of directors in such manner as shall have been regulated by the laws and ordinances of the said corporation. Capital. IV. And be it further enacted, That the capital stock of the said corporation shall not exceed five hundred thousand dollars, and that a share of the said stock shall be one hundred dollars; and it shall be lawful for the directors to call and demand from the stockholders respectively all such sums of money by them subscribed, at such time and in such proportion as they shall see fit, under pain of forfeiture of their respective shares and all previous payments made thereon, if such payments be neglected to be made for the space of ten days after the same ought to be made, and thirty days previous notice of such call and demand shall have been given, agreeable to the by-laws of the said corporation. V. And be it further enacted, That the directors for the time being shall have power to make and prescribe Powers of such by-laws, rules and regulations as shall appear needful and proper, touching the management and disposition of the stock, property, estate and effects of directors. the said corporation, the duties of the officers, artifi- A. D. 1811, cers and servants by them employed, the election of directors, and all such matters as appertain to the concerns of the said corporation, with power to appoint such and so many officers, clerks and servants for carrying on the business of the said company, and with such allowances and salaries as to them shall seem meet: Provided, That such by-laws be not inconsistent with the constitution and laws of the United States or of this state. ed personal debts to a VI. And be it further enacted, That the stock of Stock deem the said corporation shall be deemed and considered property. personal estate, and that the said company shall not use any part of their funds in any banking transaction, or in purchasing of stock in any bank of the United States, or any other public stock whatsoever, and that for all debts that shall be due and owing by the said ers liable for company the persons composing the said corporation certain exat the time of its dissolution shall be responsible in dissolution their individual and private capacity, to the extent of of the cortheir respective shares, and no further, in any suit or poration. action to be commenced or prosecuted after the said This aet decorporation shall be dissolved; and also, that this act clared to be shall be deemed and considered in all courts and pla- a public act ces as a public act. tent, on the directors VII. And be it further enacted, That Daniel Pelton, D. Pelton George Downing, Jonathan Ward, David Rogers and and others, Henry Fanning be and are hereby declared direc- for 1 year. tors of said corporation for one year from the passing of this act, and until others shall be elected in their stead. CHAP. XVIII. WT An ACT to incorporate the Somerstown Manufacturing Society. Passed February 22, 1811. HEREAS Lewis Brown, Stephen Greene, Samuel Roof, and others, have associated Preamble, themselves for the purpose of manufacturing paper, cotton yarn, and woollen and cotton cloths, on the falls of Croton, in the towns of Somers and North Salem, in the county of Westchester: Therefore, |