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shall be such only as shall be requisite to promote and attain the objects of this incorporation, such as shall have been bona fide mortgaged to it by way of security for loans, 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.
II. And be it further enacted, That the capital stock of said Stock. corporation shall not exceed one hundred thousand dollars; and tbat a share in the said stock shall be one hundred dollars; and that subscriptions to the said capital stock be opened and kept open, under the direction of the president and directors of said corporation, until the number of shares subscribed shall amount to one thousand : Provided, That no part of the said capital stock shall be employed in banking operations.
III. And be it further enacted, That the stock, property, af. Concerns fairs and concerns of said corporation shall be managed and ged. conducted by fivc directors, one of whom to be president, who shall hold their offices for one year from the first Tuesday in March in every year, which said directors shall be citizens of this state ; and the said five directors shall be elected on the first Tuesday of March in every year, at such time of the day and at such place within the county of Otsego, as a majority of the directors for the time being may appoint; and public notice shall be given by the said directors not less than ten days previous to the time of holding the said election ; and the said election shall be made by such of the stockholders of the corporation as shall attend for that purpose in their proper persons or by proxy; and all elections shall be by ballot, each share of the stock having one vote, and the five persons having the greatest number of votes at an election shall be directors; and the said five directors, as soon as may be after their election, shall proceed in like manner to elect by ballot one of their number to be their president; and if any of the directors so to be elected shall at any time remove out of this state, the office of such di. rector or directors shall be considered as vacant; and if any vacancy or vacancies shall at any time happen among the directors elected by the stockholders, by death, removal, l'esignation, or otherwise, such vacancy or vacancies shall be filled for the remainder of the year in which they may happen, by such person or persons as the remainder of the directors for the time being, or a major part of them, shall appoint; that the first directors shall be John Russell, William Tew, Arnold Wilkin- first direcson, Bille Williams, junior, and Perez Bradford, and shall hold tors. their offices until the first Tuesday of March, one thousand eight hundred and fourteen.
IV. And be it further enacted, That in case it should at any Corporation time happen that an election of directors should not be made not to be dison the day that pursuant to this act it ought to be made, the election is not
holden the said corporation shall not for that cause be deemed to be dis da
day appointe solved, but it shall and may be lawful to hold such election on ed. such other day in the manner aforesaid, as shall be prescribed by the by-laws and ordinances of the said corporation.
V. And be it further enacted, That it shall be lawful for the Directors president and directors of said corporation to call and demand monies sub
may demand of the stockholders respectively, all such sums of money as are scribed.
by them subscribed, at such times and in such proportion as they shall deem fit, under pain of forfeiture of their shares, and of all previous payments thereon, to the said corporation, always however giving at least sixty days previous notice of such
call and demand. May make VI. And be it further enacted, That a majority of the di. by.laws, &c. rectors for the time being shall form a board or quorum for
transacting all the business of the said corporation, and shall have power to make and prescribe such by-laws, rules and regulations, not repugnant to the constitution or laws of the Unitted States or of this state, 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 overseers, workmen and servants employed therein, the election of directors, and all such other matters as appʻrtain to the concerns of the institution ; and shall also have power to employ so many overseers, workmen and servants for carrying on the said business, and with such salaries and a lowance's as to them shall seem meet.
Vil. And be it further enacted, That no transfer of stock how made.
shall be valid or effectual until such transfer shall be entered or registered on the book or books to be kept by the president and directors for that purpose.
CHAP. XXVI. An ACT to alter the Time of holding Town Meetings in the town: of Cincinnatus, in the county of Cortland.
Passed February 12, 1813. BE it enacted by the people of the state of New York, represented in Senate and Assembly, That the town meetings hereafter to be holden in the town of. Cincinnatus, shall be held on the first Tuesday of March annually ; and that all such town officers whose duty it was to meet on the last Tuesday in March, shall meet on the last Tuesday in February to do and transact such business as to their respective offices may appertain.
Bristol glass company.
Passed February 12, 1813. 1. Deu enacted by the 1
I. BE it enacted by the people of the state of New York, repe resented in Senate and Assembly, That it shall and may be lawful for the stockholders of the said company to assemble and annually from among themselves, to elect on the first Tuesday of May in every year, at such time of the day, and such place in the city of New York as a majority of the directors for the time being shall direct, five persons, being stockholders of the said corporation, to manage and conduct the same for and in behalf of the said company, any thing contained in any former act to the contrary thereof notwithstanding : Provided always, That the
notice to be given of such election, and the manner of conducting the same, shall in all things conform with the act hereby amended. II. And be it further enacted, That the stockholders of the Eastern turn
pike, Eastern turnpike road company may hold an election for the choice of directors of the said company, on the second Tuesday of March next, having given one week's notice of the time and place of holding said election, in one of the newspapers printed in the city of Albany; and that the provision in the general turnpike law for cases where the election of any turnpike company may not have been held on the day provided by law for holding the same, to hold the same on any other day shall equally apply to the said Eastern turnpike company, any law lo the contrary notwithstanding.
raise Money by Tax for the erection of a fire-proof Clerk's
Passed February 12, 1813. I. BE it enacted by the people of the state of New-York, represented in Senate and Assembly, That it shall be the duty of the supervisors of the county of Schoharie, and they are hereby authorised and directed, at their annual meeting in October next, to cause a sum not exceeding six hundred dollars to be levied on the freeholders and inhabitants of the said county, together with the additional sum of five cents on each dollar for collecting the same, which sums shall be levied and collected in the same manner as the other contingent charges of the said county are raised, levied and collected, for the purpose of erecting a fireproof building for the use of the clerk of the said county, and in which all the public records and papers belonging the office of the clerk of said county shall be kept after the said building shall be completed.
II. And be it further enacted, That it shall be the duty of the said supervisors to purchase and procure a convenient lot for said building, adjoining the street near the court house in said county of Schoharie, and to appoint a commissioner or commissioners to superintend the erection of the same, at such time and in such manner as they may direct, and of such materials as shall in their judgment be proof against fire.
Passed February 12, 1313. WHEREAS the trustees of the Albany Lancaster school society have by their petition represented, that the object of their incorporation will be promoted by certain amendments to their charter, relative to the admission of members : in order therefore to remedy the inconveniences experienced from the existing provision,
I. BE it enacted by the people of the state of New-York, rep. resented in Senate and Assembly, That any person who shall contribute to the benefit of the said society the sum of twenty-five dollars, shall thereupon be a member thereof, and shall be entitled, during the lite of such contributor, to send one child to be educated gratuitously at any school under the care and direction of the said society, subject however to the by-laws, rules and regulations of the corporation : And further, that any person who shall contribute to the benefit of the said society any sum of money not less than five dollars, shall thereupon be a member thereof, and be entitled to the privileges granted to members by the act hereby amended ; and none others but contributors to the said society as aforesaid shall be deemed members thereof.
II. And be it further enacted, That the sixth section of the act, entitled " an act to incorporate the Albany Lancaster school society," be and the same is hereby repealed.
Passed February 12, 1813. I. BE it enacted by the people of the state of New-York, renTown of Jer.
"resented in Senate and Assembly, That from and after the first ky erected.
Monday in March next, all that pait of the town of Wayne south of township number five in the first range of towns, and south of the easterly half of township number five in the second range of towns, and also the gore of land lying on the east side of number four in the first range, and contained between the old and new pre-emption lines, and on the west bounds of the county of Tioga, is hereby erected into a separate town by the name of Jersey, and that the first town meeting shall be held at the house of John N. Hight, innkeeper in said town.
II. And be it further enacted, That all the remaining part of the town of Wayne shall be and remain a separate town by the name of Wayne ; and that the next town meeting shall be where their last annual town meeting was held.
III. And be ii further enacted, That as soon as may be, after poor money the first Tuesday in March next, the supervisors and overseers
of the poor of the said towns of Wayne and Jersey, on notice being first given tor that purpose by the supervisors thercof, shall meet together and divide the money and poor belonging to the town of Wayne previous to the division thereof, agreeable to the last tax list of said town, and that each of the said towns shall for ever thereafter maintain its own poor.
Passed February 12, 1813.
sist of 1,600
bany water works shall consist of sixteen hundred shares of fifty Stock to condollars each ; that each of the present shares be divided into stiares. two shares on each one of which (after the payment of the money heretofore required to be paid on each share shall have been made) forty dollars shall be deemed to have been paid ; that the present proprietors may within ten days after having been notified of the passing of this act by the trustees of the said Albany water works, become subscribers for any number of shares not exceeding the number of old shares they shall respectively hold after having been so divided, paying at the time of such subscription five collars on each new share so subscribed ; that the shares remaining unsubscribed for at the expiration of the said ten days shall be offered for subscription by the said trustees, under such regulations as they shall prescribe ; that no money shall be required of the proprietors of the old shares until the proprietors of the new shares shall have been called upon to pay to the amount of forty dollars on each new share ; after which all the proprietors shall be equally subject to requisitions to the amount of their shares; that all expenses of repairing and supporting the present works shall be borne exclusively by the proprietors of the old shares, and all dividends be made to them exclusively until the water shall have been received for use into the reservior of the said trustees through the permanent range of conduits intended to be constructed from the sources of the said water to the said reservior, and let into the distributing conduits.
II. And be it further enacted, That all and singular the rights, Former priv. privileges, and immunities heretofore granted to the trustees and ileges contincompany of the Albany water works, shall be, and the same are hereby continued until the next annual election of the trustees of the same, and shall be, and the same are hereby confirmed, any non-user, mis-user or laches having heretofore occurred notwithstanding.
III. And be it further enacted, That if any annual election shall Election. not in future be held on the day for that purpose appointed, the same may be held on any other day with like effect as if held on such day.
intersect the great road leading from Glen's Falls to the Schroon · Lake.
Passed February 12, 1913. 1. BE it enacted by the people of the state of New-York, repre. sented in Senate and Assembly, That Jeremy Rockwell, Duncan Cameron, and Berry Fenton, be, and they are hereby appointed Commis's te commissioners, and they or any two of them, are hereby author-road." ised and empowered to lay out a public road four rods wide, in as direct a route as the face of the country will admit, beginning at the center of the highway opposite the dwelling house of Isaac Woodworth, at Hadley landing, thence northerly on the west side of the Hudson river to the Sacondaga river, at or near its junction with the said Hudson river, thence across the Sạcondaga river, thence northerly on the west side of the Hudson river, so as to pass the mouth of the Schroon river, thence across the
lay out the