A.D. 1811.

Capital stock.

Corporation

erect a

bridge over the river Bronx.

company;" and by that name shall and may have continual 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, in all manner of actions, suits, complaints, matters and causes, and by the same name and style shall be in law capable of purchasing, holding and conveying any estate, real and personal, for the use of the said corporation. Provided, That such estate, as well real as personal, so to be purchased and held shall be necessary to fulfil the end and intent of the said corporation, and for no other purpose whatsoever.

II. And be it further enacted, That the stock of the said company hereby incorporated shall consist of one hundred and fifty shares, of one hundred dollars each, and that Abijah Hammond, Allen Clapp and William Bayard, are hereby appointed commissioners to receive subscriptions for the said stock in the manner directed, in and by the act, entitled "an act relative to turnpike companies," passed the thirteenth day of March, one thousand, eight hundred and seven.

III. And be it further enacted, That the said comauthorised to pany shall be and hereby are authorised to erect a good and sufficient bridge over the river Bronx, where the said intended road shall intersect the same. Provided, that there shall be an opening in the said bridge not less than twenty feet wide, over which there shall be constructed a good and sufficient draw, so as to admit the free passage of vessels with fixed standing masts.

To cause the

draw in said

well attend

ed.

IV. And be it further enacted, That it shall be the bridge to be duty of the president and directors of the company hereby incorporated at all times to cause the draw in the said intended bridge over the river Bronx, to be well attended and drawn up or opened so as to permit vessels navigating the said river to pass without delay or expense; and in case any vessel shall, without reasonable and necessary cause be delayed in passing the said bridge for the space of five minutes, in the day time, after the rising and before the setting of the sun, or for the space of ten minutes in the night time, after the setting and before the rising of the sun, by reason

of the said draw not being opened or drawn up (the A.D.1811. boatmen or other persons navigating such vessel having given notice of his approach by audibly blowing a horn at least three times within one quarter of a mile of the said bridge) the said company shall forfeit and pay to the owner or owners of such vessel the sum of twenty dollars, to be recovered by action of debt, with costs of suit, before any court or magistrate having cognizance of the same; and it shall moreover be lawful for the boatman or other person or persons navigating such vessel, after any such detention to enter upon the said bridge and draw up or open the said draw.

V. And be it further enacted, That it shall be lawful for the said company hereby incorporated to exact and receive at the gate or turnpike to be erected on the said road, the following rates of toll or sums of money, to wit: for every score of hogs or sheep, six cents; for every score of cattle, horses or mules, twenty cents; for every chair, sulky, chaise or other two wheeled pleasure carriage, with one horse, six cents; for every horse rode, three cents; for every led or driven horse, two cents; for every chariot, coach, coachee or phaeton, or other pleasure carriage, drawn by two horses, twentyfive cents, and six cents for every additional horse; for every cart drawn by one horse, three cents; for every stage, waggon, or other four wheeled carriage, other than pleasure carriages drawn by two horses, mules or oxen, twelve and an half cents, and three cents for every additional horse, mule or ox; for every sleigh or sled, six cents, if drawn by two horses, mules or oxen, and four cents if drawn by one horse.

Rates of toll.

rights con

VI. And be it further enacted, That the said company hereby incorporated, shall have and enjoy all the rights, privileges and immunities which are given and Certain granted in and by the aforesaid act, entitled "an act re-ferred to this lative to turnpike companies, and shall be subject to all the conditions, provisions, restrictions and regulations contained in the said act.

corporation.

A.D.1811.

Preamble

incorporated

zime.

W

CHAP. LXIV.

An ACT to incorporate the stockholders of the mechanics and farmers bank in the city of Albany. Passed March 22d, 1811. HEREAS George Merchant, Solomon Southwick, John Bryan and others, associated as a company under the style of the mechanics and farmers bank, in the city of Albany, by their petition preferred to the legislature have prayed for the privilege of being incorporated in order to enable them to carry on the purposes of their institution: Therefore,

1. BE it enacted by the people of the state of NewYork, represented in senate and assembly, That all such persons as now are, or hereafter shall be, stockholders Stockholders of the said bank, shall be and hereby are ordained, confor a limited stituted and declared to be from time to time and until the first day of June, which will be in the year of our Lord one thousand eight hundred and thirty-one, a body corporate and politic, in fact and in name, by the name of the president, directors and company of the mechanics and farmers bank in the city of Albany, Their style and by that name they and their successors, until that and powers day, shall and may have succession, and shall be in law

persons 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, complaints, matters 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 also that they and their successors by the aforesaid name of incorporation shall be in law capable of purchasing, holding and conveying any estate, real or personal, for the use of the said corporation: Provided, That the real estate which it shall be lawful for the said corporation to hold shall be only such as shall be requisite for its immediate accommodation, in relation to the convenient transaction of its business, or such as shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted, in the course of its dealings, or purchased at sales upon judgments which shall have been obtained

for such debts: And provided further, That the said A.D.1811. bank shall be established and kept, and the buildings necessary for the accommodation thereof erected, and the business thereof at all times hereafter transacted in the city of Albany, and not elsewhere in this state; and further, that the said corporation shall not directly or indirectly deal or trade in buying or selling any goods, wares, merchandizes or commodities whatsoever, or in buying or selling any stock created under any act of the United States, or any particular state, unless in selling the same when truly pledged by way of security for debts due to the said corporation.

Capital stock

may sub

shares.

II. And be it further enacted, That the capital stock of the said corporation, exclusive of what may be subscribed on the part of this state, shall not exceed six hundred thousand dollars, and that a share in said stock shall be twenty dollars, and that subscriptions to the said capital stock may be kept open under the direction of the president and directors, until the number of shares subscribed shall amount to thirty thousand, and that the state shall have a right to subscribe The state any number of shares to the said bank, not exceeding serie 2000 in the whole two thousand, at any time when by law the same shall be directed, which shall be paid for in such proportions and at such times as shall be provided for by the by-laws of the said corporation; and whenever this state shall subscribe not less than one thousand shares to the said bank, then and in such case the comptroller of this state shall be ex-officio a director when the of the said bank, in addition to the number of directors is to be a dis herein after limited, and whose duty it shall be to furnish to the person administering the government of this state, as often as he may require, a statement of the amount of capital stock of the said corporation, and of the debts due to the same, of the monies deposited therein, of the notes in circulation therein, and the cash on hand.

comptroller

rector.

of the corpo

managed by

III. And be it further enacted, That the stock, pro- The affairs pe affairs and concerns of the said corporation shall ration to be be managed and conducted by thirteen directors, one 13 director, of whom to be president, who shall hold their offices to be presi for one year, a majority of whom at least shall be prac

deat.

Election when and

holden.

A.D.1811.tical mechanics, which said directors shall be citizens of this state, and be elected on the first Monday of June in every year, at such time of the day and at such place how to be in the city of Albany as a majority of the directors for the time being shall direct, and public notice shall be given by the said directors in one or more of the public newspapers printed in the said city, of such time and place, not more than twent ynor less than ten days previous to the time of holding said election, and the said election shall be held and made by such of the stockholders of the said bank as shall attend for that purpose in their own proper persons or by proxy, and all elections for directors shall be by ballot, and the seven practical mechanics having the greatest number of votes of the practical mechanics voted for at such election shall be declared directors, and six of the other candidates having the greatest number of votes at such election shall also be declared directors, making in all thirteen directors; and if any two or more candidates shall have an equal number of votes at such election in such manner as that a sufficient number of directors shall not be elected in consequence thereof, then the stockholders shall proceed again in like manner to elect by ballot until the requisite number of directors is elected; and the directors so elected shall proceed by ballot and by President to a plurality of votes to elect one of their number to be be elected. their president, who shall be a mechanic; and if any di

Vacancies in

to be filled.

rector shall remove out of the city of Albany, his office shall be considered as vacant, and if any vacancy or vacancies should at any time happen by death, resignation or removal as before mentioned, such vacancy or directors how vacancies shall be filled for the remainder of the year in which they shall happen by special election for that purpose, to be held in the same manner as is herein before directed respecting annual elections, at such time and place, in the city of Albany, as the remainder of the directors for the time being or the major part of them shall appoint: Provided always, That if any such vacancy or vacancies shall happen to be in such of the offices of directors as shall have been filled by practical mechanics, then and in such case the vacancy or vacancies so happening shall be filled in like manner by a