336 A. D. 1811. Preamble Right of this state to to the bank LAWS OF NEW YORK, 34th SESSION. W CHAP. CLXXXIX. compa An ACT respecting the subscription of this state to the Mechanics Bank in the city of New-York, and for other purposes. Passed April 8th, 1811. HEREAS the president, directors and ny of the Mechanics' Bank in the city of NewYork have agreed to pay this state the sum of sixty-two thousand five hundred dollars, fifty thousand of which may be drawn for by the comptroller as soon as may be convenient, and the remaining sum may be paid in five annual instalments of two thousand five hundred dollars, to be applied to the school funds of this state: Provided, That the state will transfer to the president, directors and company aforesaid its present right to subscribe two hundred and fifty thousand dollars to the stock of the said bank, and all its interest in the same, and likewise grant an addition of five hundred thousand dollars to the present capital of the said bank, and extend the duration of its charter for nine years beyond its present limitation: Therefore, I. Be it enacted by the people of the state of NewSubscribe York, represented in Senate and Assembly, That the transferred right to subscribe shares in the stock of the said bank to the amount of two hundred and fifty thousand dollars, reserved to this state by the second section of the act entitled "An act to incorporate a Mechanics' Bank in the city of New-York," with all the present interest of this state in the said bank, be and the same is hereby transferred to the said corporation. Capital stock may II. And be it further enacted, That the capital stock be increas of the Mechanics' Bank in the city of New-York, ined and du- stead of being limited to the sum of one million five charter ex-hundred thousand dollars, may extend to but shall not ration of tended Part of for exceed two millions of dollars; and further, that the III. And be it further enacted, That so much of the mer act re- said second section of the act above recited as limits the capital stock of the said bank to one million five hun pealed. 339 dred thousand dollars, and so much theredOVERNOR. to this state the right of subscribing for shares in A. D. 1811. said stock to the amount of two hundred and fifty thousand dollars, with the privileges thereto attached, be and the same is hereby repealed: Provided always, condition IV. And be it further enacted, That nothing in this on what act contained shall be deemed in any wise to take ef- the act to fect or be in force until the sum of fifty thousand dol- take effect. lars shall be paid by the president, directors and company aforesaid into the treasury of this state, and until the said president, directors and company shall execute and deliver, under their common seal, a bond to the people of this state in the penal sum of twenty-five thousand dollars, conditioned that they and their successors in office shall pay annually on the first day of June in each year, for five years successively, to the comptroller of this state, the sum of two thousand five hundred dollars, to be appropriated for the use and encouragement of common schools within this state, which bond shall be delivered by the president, directors and company to the comptroller of this state, duly executed within thirty days after the passing of this act, any thing herein contained to the contrary notwithstanding. troller to to the stock V. And be it further enacted, That the president, di- In what rectors and company aforesaid shall, on or before the case comp twentieth day of April instant, under their corporate subscribe seal, signify to the comptroller of this state their accep- of the bank tance of the terms contained in this act, and in the event of their neglecting or refusing to accept the same it shall be the duty of the comptroller to subscribe to the stock of the said company the sum of two hundred and fifty thousand dollars, and in behalf of the people of this state to execute his bond to the said president, directors and company for the payment of the said sum of money, payable in three years from the first day of May next, with interest, at the rate of five per cent. per annum. to be appointed by VI. And be it further enacted, That two directors 2 directors of the said Mechanics' bank shall be annually appointed by the council of appointment in behalf of this state, the council on or before the tenth day of April in every year, who of appoint meut. 336 A. D. 1811. ized to LAWS OF offices for the term of one year from the appointment, and until others are appoint ein their stead. VII. And be it further enacted, That the comptrolComptroller be and he is hereby authorised and required to draw ler author in favor of the treasurer on the president and directors of all banks and of all other companies or institutions in which the people of this state now own or may hereafter own any stock or capital, for the dividends, profits or interests on such stock or capital, as the same may from time to time be declared and become due. draw on dividends on bank stock. Preamble. ble society ed. W CHAP. CXC. An ACT to incorporate the Albany Bible Society. Passed April 8, 1811. HEREAS John M. Bradford and certain other persons have formed themselves into a socity by the name and style of " the Albany Bible Society," for the purpose of the gratuitous distribution of the scriptures, and have by their petition to the legislature prayed to be incorporated, in order the better to promote the above laudable purpose: Therefore, I. Be it enacted by the people of the state of NewAlbany bi- York, represented in senate and assembly, That all such incorporat persons as now are or hereafter may become members of the said society, shall be and hereby are ordained, constituted and appointed a body politic and corporate, in fact and in name, by the name of " the Albany and corpor- Bible Society," and that by that name they and their ate rights. successors shall and may forever hereafter have con Their style tinual succession, and shall be persons in law capable of suing and being sued, pleading and being impleaded in all courts and places whatsoever, in all manner of action and actions, suits, matters, complaints 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 name of "the Albany Bible Society," shall be in law capable of purchasing, holding and conveying any estate, real or personal, for, the use of the said society: Provided always, That such real and personal estate shall not at any time exceed the A. D. 1811. annual value of three thousand dollars. be annually II. And be it further enacted, That for the better A board of carrying into execution the objects of the said society, managersto there shall be a board of managers which shall consist elected. of one president, two vice-presidents, one corresponding secretary, one recording secretary, one treasurer, and nine other members, making in all fifteen; that the officers of the board shall be equally officers of the society; that the said managers and officers shall hold their offices for one year, or until others are chosen in their room, and shall be elected on the first Tuesday in February, or at such other time and at such place, and in such manner as the said society shall from time to time appoint and direct; and that in case any va- Vacancies cancies should happen in either of the said offices by of manager death, resignation, or otherwise, such vacancies shall how filled. and may be filled up for the remainder of the year in which they shall happen by a special election for that purpose, to be held in the same manner as the annual elections are made, or in such manner and at such places and times as the said society shall from time to time appoint and direct. in the office III. And be it further enacted, That John M. Bradford, William Neill, Samuel Blatchford, Harmanus First manaBleecker, John Stearns, John H. Wendell, Stephen Bers. Van Rensselaer, Philip S. Van Rensselaer, Eliphalet Nott, Abraham Van Vechten, John Woodworth, Douw Fonda, John M'Jimpsey, Frederick G. Mayer and Daniel Ostrander shall be the first managers of the said society; and that John M. Bradford shall be the first president, William Neill and Samuel Blatchford the first vice-presidents, Harmanus Bleecker the first corresponding secretary, John Stearns the first recording secretary, and John H. Wendell the first treasurer thereof, who shall hold their offices respectively until the first Tuesday of February next, or until others shall be chosen in their room. Powers of IV. And be it further enacted, That the said corporation and their successors shall have full power to make, the corpor constitute, ordain and establish such by-laws, rules, or ation. A. D. 1811-dinances and regulations as they from time shall judge proper for the election of their officers, for the election or admission of new members of the said corporation, and the times and manner of admission and the sums that shall be paid yearly by the members of the said society, and also for the management and disposi tion of the stock, property, estate and effects for the purpose of carrying into effect the objects of the said society, and for fixing the times and places of the meetings of the society, for regulating the manner of conducting their business when met, and touching the duties and conduct of the officers of the said corporation, and all such other matters as appertain to the business and purposes for which the said corporation is by this act constituted, and for no other purposes whatProviso, soever Provided always, That no regulation shall be made in any wise to control the religious principles or affect the rights of conscience of any person whatsoever: And provided further, That such by-laws, rules and regulations be not repugnant to the constitution or laws of the United States or of this state. What number of mem V. And be it further enacted, That at every ordinary bers autho- or extraordinary meeting of the said society when five rized to ad members are met they shall have power to adjourn from to uransact time to time, and when fifteen are met they shall have journ, what business. Duration of full power to do and transact all the business thereof. VI. And be it further enacted, That this act be and hereby is declar d to be a public act, and that the same be construed favorably in all courts and places for every purpose therein intended. VII. And be it further enacted, That the duration, the corpor of the corporation created by this act shall be twenty, ation. Any 5 per ating for purposes those in this years. at any VIII. And be it further enacted, That whenever any sons associ- five of more persons, being inhabitants of this state, shall time hereafter associate themselves together for similar to the laudable purpose mentioned in this act, it shall be lawact, entitled ful for them to choose the officers contemplated by this leges of it. act, and thereupon to file in the office of the secretary of this state a description of the said association by their corporate name, and upon filing such certificate they to the privi |
