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opposite to our respective names, in such manner and proportions, and
Section 2. That as soon as fifty shares shall be subscribed, and five dollars paid on each share so subscribed to the said commissioners, then said commissioners, or majority of them, shall certify the same, together with a list of the subscribers and the shares by each subscribed, and that the sum of five dollars has been actually paid on each share, in writing to the governor, who, thereupon, shall constitute the said subscribers. and also all those who may in future subscribe under the provisions of this act. a body corporate, by the name of “the president, managers and company for erecting a bridge over the Kiskiminetas river, at the town of Warren, Armstrong county,” with all the privileges incident to such a corporation, who shall have perpetual succession, and shall be capable of taking and holding their said capital stock and the increase thereof, and of enlarging the same by new subscriptions, if such enlargement be necessary to fulfil the purposes of this act.
Section 3. That the six persons first named in the letters patent of incorporation, shall, as soon as conveniently may be after sealing the same, give notice in the newspapers aforesaid, of a time and place by them to be appointed, not less than thirty days from the time of issuing the first notice, at which time and place the said subscribers shall proceed to organize the corporation, and shall choose, by a majority of votes of the said subscribers taken by ballot, to be delivered either in person or by proxy duly authorized, one president, five managers and one treasurer, and such other officers as they may deem necessary to conduct the business of the company during one year, or until other officers be chosen ; and the said company may make such by-laws, rules, orders and regulations, not inconsistent with the laws of this commonwealth, as may be necessary for the well ordering of the affairs of the said company; and as soon as the said corporation is so organized, the commissioners shall pay over to the treasurer the sums paid to them at the time of subscription ; and the corporation shall pay to the said commissioners all reasonable expenses which may have attended the taking such subscriptions: Provided, however, No person shall have more than ten votes, whatever number of shares he may hold in said company; and each person shall have one vote for each share of stock he may hold less than ten shares.
SECTION 4. That a public meeting of the said stockholders shall be held Annual meeting.
on the first Monday of October next, and on the first Monday of October in each year thereafter, at such place as the rules and by-laws of said company shall fix, for the purpose of choosing officers for the ensuing year, and the determination of any question affecting the interest of the company : public notice of the time and place of holding elections to be given in the newspapers aforesaid, at least one month before the time thereof.
Section 5. That the president and managers shall procure printed certificates.
certificates of all the shares of stock in the said company, which shall he signed by the president, countersigned by the treasurer, and sealed with the seal of the company; and each subscriber shall be entitled to one such certificate for each share by him subscribed for, on paying to the treasurer the full amount of twenty dollars, which certificate shall be transferable either by the owner in person, or by his attorney duly authorized, in the presence of the president or treasurer, for the time being; and the person to whom said certificate shall be transferred, shall . in the place of the former holder of the certificate, and shall be entitled to the same privileges in the company.
Section 6. That the president, managers and company shall have the Powers, authorisame powers, authorities and privileges for completing, maintaining and ties and privileges keeping in repair the said bridge, and for fixing the rates of tolls, and collecting the same, and be subject to the same duties, qualifications, restrictions, penalties, fines and forfeitures, which are or may be given and granted, or imposed upon the president, managers and company, authorized to erect a bridge over the river Susquehanna, at or near the borough of Harrisburg, in the county of Dauphin.
JAMES ROSS SNOWDEN.
APPRoved—The fifteenth day of March, one thousand eight hundred and forty-four. DAVID R. PORTER.
To incorporate a company to erect a bridge over the river Schuylkill, at or near
Section 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That for the purpose of erecting a bridge over the river Schuylkill, at or near Phoenixville, John Rasor, William Davis, Joseph Pennypacker, John Place, Henry Garber, Joseph Hunsicker, John Jacobs, Joshua Place, of the county of Montgomery, and John Morgan, Jacob Baugh, Robert Jones,
John Clevestine, S. A. Whitaker, M. D., John Mowry, Jonas Pennypacker, Benjamin Hartman, John Wanderslice, Isaac Chrisman, Daniel Buckwalter, J. A. Pennypacker, Henry Kimber, and Samuel Moses, of the county of Chester, be and the same are hereby appointed commissioners to do and perform the several duties hereinafter mention—that is to say. They shall, on or before the first Monday of July next, procure a book or books, and enter therein as follows: “We, Form of subscrip- whose names are hereunto subscribed, do promise to pay to the presition. dent, managers and company. to erect a bridge over the river Schuylkill, at or near Phoenixville, in the county of Chester, for the use of said company, the sum of ten dollars for each share of stock set opposite our names respectively, in such manner and proportions, and at such times and places as shall be determined by the president and managers, in pursuance of an act of the general assembly of this commonwealth, entitled “An Act to incorporate a company to erect a bridge over the river Schuylkill, at or near Phoenixville, in the county of Chester.' Witness our hands, this day of one thousand eight hundred and forty ;" and shall thereupon give notice in two newspapers in the counties of Chester and Montgomery, for one calendar month at least of the time and places, when and where such book or books shall be opened to receive subscriptions for the stock of said company; at which time and places some one or more of the said commissioners shall attend and shall keep open said book or books, at least six hours in every day for three juridical days, if so many shall be necessary, and allow any one of the age of twenty-one years to subscribe therein in his own name, or names of any other person or persons, by whom he shall be authorized to do so, for any number of shares of said stock, until seven hundred shares shall be subscribed, when the books shall be closed. But if the whole number of shares shall not be subscribed, the said commissioners may adjourn to such time and places as they shall think necessary, and give such further notice as they shall think proper; and when the subscription shall amount to seven hundred shares as aforeProviso. said, the books shall be closed : Provided, always, That every person offering to subscribe in said book or books, in his own name, or in the name of any other person, shall, at the time of subscribing, pay to the attending commissioner or commissioners, one dollar on every share so * subscribed, out of which shall be defrayed the expenses attending the taking of such subscription and other incidental charges, and the remainder shall be paid over to the treasurer of the corporation, as soon as the same shall be organized, and the officers thereof chosen as hereinafter directed. SECTION 2. When sour hundred shares of the said stock shall have been subscribed, the said commissioners or a majority of them, shall certify under their hands and seals the names of the subscribers, and the number of shares subscribed by each, to the governor; and thereupon Letters patent. it shall and may be lawful for the governor, by letters patent under his hand and seal of the state, to create and erect the subscribers. and if the said subscription be not full at the time, then also those who shall subscribe to the number aforesaid, into one body corporate and politic, in Name. deed and in law, by the name, style and title of “The president. managers and company of the Phoenixville bridge;” and by the said name the subscribers shall have perpetual succession, and shall be capable of holding their capital stock and the increase and profits thereof. and of enlarging the same from time to time by new subscriptions, in such manner and form as they shall think proper, if such enlargement be thought necessary to fulfil the intent and meaning of this act; and of purchasing and holding, to them and their successors and assigns, and
of selling, transferring and conveying in fee simple, or any less estate, all such lands, tenements, hereditaments and estates, real and personal. Powers and prias shall be necessary to them in the prosecution of their work, and of vileges. suing and being sued, and doing all and every thing which a body politic and corporate may lawfully do: Provided, That in erecting the bridge, the sord now in use shall be kept open for crossing, or some other place be provided till said bridge be completed, when said ford shall be closed.
Section 3. When ten or more persons shall have subscribed two Commissioners of hundred and fifty shares of stock in said company. and shall have paid M. o one dollar on each share so subscribed, the county commissioners of the Ch. counti. county of Montgomery, may, if they deem it expedient, subscribe for one authorized to subhundred shares of the stock on behalf of said county; and the county scribe to stock. commissioners of the county of Chester, may, if they deem it expe. dient, subscribe, on the part of said county, for one hundred shares of the stock of said company; the subscription, on the part of said counties, if so made, shall be paid by orders drawn on the treasurers of said counties respectively, within twenty days after subscribing, if the piers and abutments of said bridge shall then be completed, and if not, then within twenty days after completing the same. And the subscriptions and payment so made on the part of said counties, shall, for every share subscribed by them, vest in such county commissioners and their successors, for the use of the county, all the rights and emoluments appertaining to a share or shares, as those held by individual stockholders; and after subscription and payment as aforesaid, the commissioners of each county shall and they are hereby authorized to appoint a manager in said county, at such time as they think proper, and remove the same and appoint another in his place whenever they may deem it necessary; and the managers so appointed, shall have all the rights, privileges and Managers. authority of managers chosen by the stockholders and the board; and until such subscription and payment by said counties, the said board shall consist of eight managers, five of whom, including one of said county managers, shall constitute a quorum for transaction of business : Provided, The counties shall have so subcribed by their commissioners.
Section 4. Any five persons named in the letters patent of the govermor, as soon as conveniently can be, after giving notice in one or more of public papers in the counties of Montgomery and Chester, of a time and place by them appointed, not less than thirty days from the time of issuing the first notice, shall proceed with the subscribers to organize Organization. the said corporation; and shall, by a majority of votes of said subscribers present, by a ballot to be delivered in person or by proxy duly authorized, elect one president, six managers, one treasurer, who shall Election. serve until other officers shall be lawfully chosen as herein directed; and may make such rules, orders, regulations and by-laws, not inconsistent with the laws of this commonwealth, as shall be found necessary for the well ordering of the said company; and generally have all the powers, authorities and privileges necessary for erecting, maintaining and keeping in repair said bridges.
Secrios 5. A public meeting of the stockholders shall be held annu- Annual meeting. ally, at such time and places as shall be fixed by the rules and regulations of said company, for the purpose of choosing officers for the ensuing year, and the transaction of such business as shall come before them : Provided, That no person shall have more than twenty-five Proviso. votes at any election, and that every person shall be entitled to one vote Ratio of votes. for every share under five shares, and one vote for every two shares under ten shares and over five shares, and one vote for every five shares over ten.
Penalty for nonpayment of instalments.
Increase of stock.
Section 6. The president and managers shall procure certificates of stock in said company, which shall be signed by the president and countersigned by the treasurer, and sealed with the seal of the corporation; and each stockholder shall be entitled to a certificate for each share by him subscribed or held, by paying to the treasurer in part for the sum due thereon, two dollars and fifty cents, on each share, which certificate shall be transferable, either in person or by attorney, duly authorized, in the presence of the president or of the treasurer, for the time being, subject however to the payment due or growing due thereon; and the person to whom the transfer shall be made, shall stand in the place of the former holder, and be entitled to the same privileges and liable to the same responsibilities to the company.
Section 7. The said president and managers shall meet at such time and place, and be convened in such manner, as shall be prescribed by the by-laws; at which meeting five shall constitute a quorum, who, in the absence of the president may choose a chairman, and shall keep minutes of all their proceedings and transactions, truly inserted in a book; and at such meeting, a quorum being present, they shall have full power and authority to agree with and appoint such engineers, superintendents, artists and other officers, as they shall think necessary for the erection of said bridge, and to fix their salaries and wages, or at their discretion, make contracts for the erection and construction of the same or any part thereof; they shall also determine the times, manner and proportion in which the stockholders shall pay the money due on their respective shares, draw orders on the treasurer for the money necessary to pay salaries, wages and bills for work or materials, on account of contracts; which orders shall be signed by the president, or in his absence, by a majority of the quorum, and countersigned by the clerk, and also to do all matters and things as by this act, or by the by-laws of said company, shall be committed to them.
Sectiox 8. If any stockholder, after thirty days notice, given in two newspapers in each of said counties, of the time and place appointed for the payment of any instalment of said capital stock, shall neglect to pay said instalment at the time appointed, every such stockholder or his assignee shall, in addition to the proportion so called for, pay at the rate of one per cent. per month, for every delay of such payment; and if the same and the said additional payment shall remain unpaid, for such a space of time, that the accumulated penalties shall be equal to the sum before paid, or amount of such share, the same shall be forfeited to the company, and may be sold by them to any other person or persons, willing to purchase, for such price as can be obtained therefor; or the president and managers may sue for and recover the same, before any justice of the peace, or before any court of competent jurisdiction.
Section 9. Whenever it shall appear to the said president, managers and company, at any general or special meeting, that the said bridge cannot be completed without extending the number of shares, they shall be extended, under the direction of such meeting, so far as may be necessary to complete said bridge, which of... shall be sold by the president, and shall entitle the holder to the same rights and privileges as those originally subscribed.
Section 10. When a safe passage may be had across said bridge, the property shall be invested in the said company, their successors and their assigns forever; and the said company and assigns are hereby empowered to erect gates and to demand and receive toll, not exceeding the following rates, to wit: For every score of sheep, six cents; for every score of hogs, ten cents; for every score of cattle, twenty-five cents, and so for a greater or less number; for every horse or mule, three cents;