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gransacting of business) shall appoint, notice whereof shall be given by the said directors in one or more of the newspapers, printed in the said county of Orange, at least thirty days previous to the day of holding such election, and the said election shall be held and made by such of the stockholders of said bank as shall attend for that purpose, either in person or by proxy, which proxies shall always be stockholders, and all elections shall be by ballot, each share entitling its owner to a vote, and the thirteen persons who shall have the greatest number of votes, shall be directors ; and if it should happen at any such election, that two or more persons have an equal number of votes, then the said directors in office at the time of such election, or a majority of them, shall proceed to ballot, and by plurality of votes, determine which of said persons so having an equal number of votes, shall be the director or directors, so as to complete the whole number of thirteen ; and the said directors chosen at such election, as soon as may be thereafter, shall proceed in like manner by ballot to elect one of their number to be their president ; and whenever any vacancy shall happen among the directors, by death, resignation or removal, such vacancy shall be filled for the remainder of the year in which it shall happen, by such person or persons as the rest of the directors, or a majority of them, may appoint.
IV. And be it further enacted, That in case it should at any time happen, that an election of directors should not take place on any day on which pursuant to this act it ought to have taken place, the said corporation shall not for that cause be dissolved, but that it shall and may be lawful on any other day to hold and make an election of directors in such manner as shall have been regulated by the laws and ordinances of the said corporation.
V. And be it further enacted, That in case the said number subscriptions of eight thousand shares shall not be subscribed on the books to be kepr directed by this act to be opened by the commissioners aforesaid, subscriptions shall be kept open under the direction of the president and directors of said bank at such times and places as they shall think proper, until the said number of shares be subscribed.
VI. And be it further enacted, That the directors for the By-laws how time being, or a major part of them, shall have power to make to be made. and prescribe such by-laws, rules and regulations as to them shall appear needful and proper touching the management and disposition of the stock, property, estate and effects of the said corporation, the duties and conduct of the officers, clerks and servants employed therein, the election of directors, and of all such other matters as appertain to the business of a bank, and shall have power to appoint so many officers, clerks and servants, for carrying on the said business, and with such salaries and allowances, as to them shall seem meet: Provided, That such by-laws, rules and regulations be not repugnant to the constitution and laws of the United States or of this state.
VII. And be it further enacted, That the said bank shall be Baok to be established and kept, and the business thereof at all times after kept in Gothe organization of the same, shall be transacted at such place within the said village of Goshen, as the president and directors may deem proper..
VIII. And be it further enacted, That the total amount of debts which the said corporation shall at any time owe, wheth. er by bond, bill, note or other contract, over and above the specie then actually deposited in said bank, shall not exceed three times the amount of the capital stock subscribed, and actually paid into said bank, and in case of such excess, the directors under whose administration it shall happen, shall be liable for the same in their separate and private capacities; but this shall not be construed to exempt the said corporation, or any estate, real or personal, which they may hold as a body corporate, from being also liable for, and chargeable with such excess; but such of the directors who have been absent when the said excess was contracted, or may have dissented from the resolution or act whereby the saine was so contracted, shall not be so lia
IX. And be it further enacted, That the lands, tenements and on what con hereditaments which it shall be lawful for the said corporation ditions to be held to hold, shall be only such as shall be requisite for its immedi
ate 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 bona. fide debts previously contracted in the course of its dealings, or purchased at sales upon judgments which shall have been obtained for such debts : And further, the said corporation shall not directly or indirectly, deal or trade in buying or selling any goods, wares, merchandise 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 cor
poration. Bills to be as. X. And be it further enacted, That the bills obligatory and signable,
of credit, under the seal of the said corporation, which shall be made to any person or persons, shall be assignable by endorsement thereupon, under the hand or hands of such person or persons, his, her, or their assignce or assignees, and so as absolutely to transfer and vest the property thereof, in each and every assiguiee or assignees respectively, and to enable such assignee or assignees to bring and maintain an action thereupon, in his, her or their own name or names, and bills or notes which may be issued by order of the said corporation, promising the payment of money to any person or persons, his, her or their order, or to bearer, though not under the seal of the said corporation, shall be binding and obligatory upon the same, in like manner, and with the like force and effect, as upon any private person or persons, if issued by him, her or them, in his, her or their private and natural capacity or capacities, and shall be assignable and negociable, in like manner as if they were so issued by such private person or persons.
XI. And be it further enacted, That it shall be lawful for the Calls may be made on the directors for the time being, to call and demand from the stock
holders respectively, all such sums of money by them subscribed, or to be subscribed, at such times and in such proportions as they shall see fit, under pain of forfeiture of their shares and all previous payments made thereon, to the said company, always however, giving at least thirty days notice of such call and demand, in one of the newspapers published as aforesaid.
to be forfeit.
XII. And be it further enacted, That the present act of in- This act not corporation shall in no wise be forfeited by any non-user what- ed by nonsoever, at any time before the first Monday in June, which will use be in the year one thousand eight hundred and fourteen, and that it shall on that day be lawful for the stockholders above mentioned to assemble for the purpose of carrying the same into effect, any want of notice in the manner abovc prescribed to the contrary in any wise notwithstanding.
XIII. And be it further enacted, That it shall be the duty of Dividenda the directors to make half yearly dividends of so much of the profits of the said bank as to them, or a majority of them, shall seem advisable ; and that every cashier and clerk, before he enters upon the duties of his office, shall give bonds, with two or more sureties, to be approved by the directors for the time being, or a majority of them, in'a sum not less than ten thousand dollars for such cashier, and two thousand dollars for such clerk, conditioned for the faithful discharge of their several du. ties. XIV. And be it further enacted, That the said corporation Rate of in
terest. shall not demand any greater interest on any loan or discount bere than at the rate of six per centum per annum, unless the said loans or discounts shall be made for a longer period than ninety days, in which case the said corporation shall be entitled to demand and receive an interest not exceeding seven per centum per annum.
XV. And be it further enacted, That this act be and is here. This a public by declared to be a public act, and that the same be construed act. in all courts and places benignly and favorably for every beneficial purpose therein mentioned.
build a dam
Passed April 8, 1813. I. BE it enacted by the people of the state of New-York, R. Macombs représented in Senate and Assembly, That it shall and may be allowed to Jawful for Robert Macomb, of the city of New York, his heirs across Hacra and assigns, first obtaining the consent of the mayor, aldermen lem river. and commonalty of the city of New York thereto, to build, construct, make and maintain a dam across the Haerlem river, from Bussing's Point, in the ninth ward of the said city, to Devoe's Point in the town of Westchester, in the county of Westchester, which said dam may be constructed with a foundation and abutments of stone and earth, or other durable materials, leaving in the centre or other part thereof, a sufficient space for the water to pass freely through, on which space may be constructed flood gates, or other contrivances, needful to contain the waters of said river, so however that such dam shall not be built, constructed or made at or below the place where the bridge authorised to be erected and built by the Haerlem bridge company, from Bussing's Point aforesaid to Devoe's point aforesaid, shall be erected and built without the consent of the said company : Provided always, That the said dam shall not be so constructed as to force or cause the water of said river to rise and overflow the salt mead.
pron shall be made in the
ows, or other grounds lying between the said dam and Kingsbridge, or any part thereof, or cause the tide or other water, to continue or remain on said meadows or grounds, longer than the same otherwise would have done : And provided further, That if any damage or injury whatever shall accrue to the meadows or other grounds aforesaid, in consequence of the building of said dam, the said Robert Macomb, his heirs and assigns, shall indemnify and make whole the party or parties injured, for the loss or dam
age sustained by him or them as aforesaid. A lock or a. II. And be ii further enacted, That the said dam shall be so
made and built as to admit the passage of boats and vessels acdam. customed to navigate the same, by means of a good and sufficient
gate, lock, apron or other contrivance, and the said Robert Macomb, his heirs and assigns, at his or their own expense, shall keep and provide a suitable person to attend the same, so that no unnecessary delay may happen to those who may have occasion
to pass the same with boats or vessels as aforesaid. It shall be Ill. And be it further enacted, That the said Robert Macomb, kept in re.
his heirs and assigns, at his or their own expense, shall at all times keep in good and sufficient repair the said dam; and in case the said gate, lock, or other contrivance, whereby or through which boats are to pass as aforesaid, shall not be kept in sufficient repair and condition, or if the said Robert Macomb, his heirs and assigns, do not at all times keep a suitable person to attend the same, or if any delay should happen to any person who may have occasion to pass the same with boats or vessels as aforesaid through the default of the said Robert Macomb, his heirs or assigns, or his or their agents or servants, he or they shall forfeit for every neglect, the sum of five dollars, to be rea
covered with costs of suit by the party injured. R. Macomb IV. And be it further enacted, That the said Robert Macomb, sole right of his heirs and assigns for ever, shall hold, have and enjoy the sole using the wa. right and privilege of using and employing the waters so dammed,
for milling and other purposes : Provided, That the assent of the mayor, aldermen and commonalty of the city of New York to the building and constructing said dam herein before mentioned as herein aforesaid be first obtained by the said Robert Ma
comb, his heirs or assigns, before he or they shall be authorised Proviso. to build or construct the same : Provided also, That nothing in
this act contained shall be construed to affect, injure or impair any rights, property or privileges which may be now vested by law and subsisting in John B. Coles, or in any person or persons claiming under him, or in the Haerlem bridge company.
Passed April 9, 1813. BE it enacted by the people of the state of New York, represented in Senate and assembly, That the treasurer, on the warrant of the comptroller, is authorised and required to pay to Freegift Patchin the sum of two hundred and ten dollars out of any money in the treasury not otherwise appropriated, in full of his pay as a soldier serving in Col. Peter Zeile's regiment, the said Freegift having been taken prisoner by the enemies of the United States in the late revolutionary war, on the seventh day of April, one thousand seven hundred and eighty, and continued a prisoner in Canada to the twenty-eighth day of November, one thousand seven hundred and eighty-two, for which he has heretofore received no compensation from this state or the United States.
Passed April 9, 1813. WHEREAS it will be of general public advantage, and aid prenoble the several manufacturing companies incorporated in this state, as well as many private individuals engaged in domestic manufactures, if a company should be established for the purpose of disposing of articles solely of American manufacture, and to make loans thereon when deposited for sale : Therefore,
1. BE it enacted by the people of the state of New-York, re T. Storm and presented in Senate and Assembly, That Thomas Storm, Isaac others incorMarquand, Seth Capron, and all such other persons as now are or hereafter shall be associated for the purpose aforesaid, be and are hereby ordained, constituted and declared a body corporate and politic, in fact and in name, by the name and style of “ The Their style, President and Directors of the Commission Company," and that &c. they and their successors, for the term of fifteen years hereafter, shall and may have succession, and shall be persons in law capa. ble of suing and being sued, defending and being defended, answering and being answered unto in all courts and places whatsoever, in all manner of actions, suits, complaints and causes whatsoever, and of holding and conveying real and personal es. tate for the use of the corporation, and that they and their successors may have a common seal and may change and alter the same at their pleasure : Provided, That such real and personal estate shall be necessary for the objects contemplated by this act.
II. And be it further enacted, That the capital stock of the said stock. corporation shall not exceed six hundred thousand dollars, and that a share in the stock shall be fifty dollars, and that subscriptions to the said capital stock may be kept open at such times and places under the direction of the president and directors, until the whole number of shares shall be subscribed, and that the said stock shall be employed solely in advancing money when requested on goods and articles manufactured within this state or the United States, except salt manufactured within the same, and the sale of such goods and articles on commission : Provided, That no more than lawful interest shall be charged or received for any money so to be advanced, and that the usual mercantile commissions, with the usual charges, and no more, shall be charged or received on such sale, and that no commissions be charged or received except upon actual sales; And provided also, That it shall not be lawful for the said corporation to use or employ any part of the said capital, nor any money, funds or effects whatsoever in the purchase or sale of any goods, wares, merchandize or commodi,