laerwyck, at the time of the divifion thereof, between the faid two towns, in an equitable manner; and the faid towns, refpectively, shall thereafter maintain their respective poor.

XII. And be it further enacted by the authority aforefaid, That it shall and may be lawful for the fupervisors and overfeers of the poor of Watervliet and Coeymans, for the time being, to divide the poor now maintained by the faid towns between the fame two towns, in fuch manner as they, or the major part of them, fhall judge to be juft and equitable; and each of the faid towns fhall thereafter fupport their own poor refpectively.

CHA P. XXXV.

An ACT for laying out and regulating certain Roads over the Efopus Low Lands, in the County of Ulfter, and for afcertaining the Lines between the - Towns of Goshen, Warwick and Minnifiak, in the County of Orange. Paffed 18th March, 1791.

WHEREAS many of the inhabitants of the town of Kington, in

the county of Ulfter, have, by their petition, reprefented to the legiflature, that it will be neceflary to lay out a public road or roads, over the Efopus Low Lands, to the bridge lately erected over the Efopus creek, but that it would be highly inconvenient that the faid road or roads fhould be of the breadth of four rods, as at prefent directed by law, by reafon of the expence which would attend the fame; Therefore,

Commiffioners of

Landstwo roads wide.

I. Be it enacted by the people of the fate of New-York, reprefented in fenate and affembly, and it is hereby enacted by the authority of the fame, That it fhall and may be lawful for the commiflioners of highhighways in Kingston Ways of the faid town of Kingfton, or the major part of to lay out a certain them, to lay out fuch common road or roads, across the road across the Low faid Low Lands, as may be judged expedient, and that the breadth thereof from the place of leaving the main road from Kingston to Hurly, to the aforefaid bridge, and from the faid bridge northerly over the faid Low Lands, fhall be two rods wide. Provided nevertheless, That the faid commiffioners or the major part of them, hall in all refpects, except as is herein before mentioned, purfue and be governed by the directions and provifions of the act, entitled, An act for the better laying out, regulating and keeping in repair, all common and public highways and private roads, in the counties of Ulfter, Orange, Dutchefs, Wafhington, Weftchefter, Albany and Montgomery, paffed the 4th of May, one thoufand feven hundred and eighty-four.

caufe fwinging gates

on faid roads.

II. And be it further enacted by the authority aforefaid, Commiffioners to That the faid commiffioners of the highways, or the major to be erected and kept part of them, fhall caufe to be erected, and kept at the expence of the faid town of Kingston, fuch fwinging gates on faid roads, as may be by them, or the major part of them, thought neceflary or expedient, not exceeding three, and that any perfon or perfons, who fhall open and leave open the faid fwinging gates, or either of them, fhall refpectively be liable, for each offence, to the penalty of eight fhillings, to be recovered, with cofts of fuit, before any juftice of the peace in the faid county of Ulfter, and the monies therefrom arifing, fhall be applied towards the erecting or repairing fuch fwinging gates, or to fuch other objects as the corporation of the faid town of Kingston may deem meet.

III. And whereas, The towns of Gofhen and Warwick are bounded weiterly by the Walkill, and the town of Minnifink is bounded foutherly by the fame Kill, in the county, aforefaid, whereby the faid Kill is included in neither of the faid towns; Therefore, Be it further enacled by the authority aforefaid, That the towns aforefaid, fhall be, and they ate and Warwick to be hereby divided by the middle of the faid Walkill; any thing in any law to the contrary notwithstanding.

Towns of Gothen

divided by the middle of Walkill.

CHA P. XXXVI.

An ACT to divide the Town of North-Caftle, in the County of Weftchefer. Paffed 18th March, 1791.

North-Cafle town

called North-Castle,

Caftle.

Eit crafted by the people of the Rate of New-York, reprefented in jenate and affembly, and it is hereby enacted by the authority of the fame, That from and after the firft Monday of April next, all that divided, and one part part of the town of North-Caftle, in the county of Weftand the other New chefter, that lies eaft and fouth of a line, drawn from the fouth-west corner of the town of Bedford, to the head of Brunx's River, where the fame divides the town of Mount Pleasant, from the town of North-Caftle, fhall be one feparate town, by the name of NorthCaflle; and the firft town-meeting for the faid town of North-Caftle, fhall be held at the dwelling-houfe of Harrifon Palmer: And all the remaining part of the faid town of North-Caftle, that lies weft and north of the aforefaid line, fhall be one other feparate town, by the name of New-Caftle; And the firft town-meeting for the town of New-Caftle, fhall be held at the dwel ling-houfe of Hannah Legget: And the faid town of North-Caftie, and the faid town of New-Caftle, fhall feparately and feverally, hold and enjoy, all the privileges and immunities that the town of North-Caftle held and enjoyed, by any former law of this ftate, at, and immediately before the pafting of this act.

II. And be it further enadied by the authority aforefaid, That the poor of the town of North-Cattle, on the first Monday of April next, fhall afterwards be divided by the town of North-Caftle and the town of New-Cafile, in fuch proportions as the overfeers of the poor for the time being, of the faid towns respectively, fhall agree upon; and in cafe of difagreement of the faid overfeers, then, and in fuch proportions as the fupervifors of the county, at their next annual meeting shall direct, any former law to the contrary notwithstanding.

С НА Р. XXXVII.

An ACT to incorporate the Stockholders of the Bank of New-York. Paffed 21ft March, 1791.

WHEREAS Ifaac Roofevelt and others, affociated as a company,

under the ftyle of the prefident, directors, and company of the bank of New-York, by their petition prefented to the legislature, have prayed for the privilege of being incorporated, the better to enable them to carry on the purposes of their inftitution: Therefore,

L Be it enacted by the people of the fate of New-York, reprefented in fenate and affembly, and it is hereby enacted by the authority of the fame, That

fucceffors for that time

Baid ftockholders all fuch perfons as now are, or hereafter shall be stockhol incorporated for 20 years, by the naine of ders of the faid bank, fhall be, and hereby are ordained, the prefident, direct conftituted and declared to be, from time to time, and unors, and company of the bank of New-York til the fecond Tuesday of May, which will be in the year one thoufand eight hundred and eleven, a body corporate and politic, in fact and in name, by the name of the prefident, directors and company of the bank of New-York; and that by that And they and their name, they and their fucceffors, until the faid fecond Tueto have continual fuc day of May, one thousand eight hundred and eleven, fhall cefion, and be capa- and may have continual fucceffion; and fhall be perfons fuel in all actious in law capable of fuing and being fued, pleading and being impleaded, anfwering and being answered unto, defending and being defended in all courts and places whatsoever, in all manner of ac tions, fuits, complaints, matters and caufes whatfoever: And that they and their fucceffors may have a common feal, and may change and alter the fame at their pleasure; and alfo that they and their fucceffors, by the fame name of the prefident, directors and company of the bank of New-York, fhall be in law, capable of purchafing, holding and conveying any estate, real or perfonal, for the ufe of the faid corporation.

ble of fuing and being

whatfoever.

of fhares not to ex

and other property,

II. And be it further enacted by the authority aforesaid, Each fhare in faid That a fhare in the flock of the faid bank, shall be five hunbank, to be soodollars, and the whole amount dred Spanish milled dollars, or the equivalent thereof in ceed 1800: and the fpecie; and the number of fhares fhall not exceed one whole amount of flock thoufand eight hundred, exclufive of any fhares that may not to exceed one mil be fubicribed on the part of this ftate, and subscriptions fhall be kept open under the direction of the prefident and directors of the faid bank, until the faid number of fhares fhall be filled, and the whole amount of the flock, eftate, and property which the faid corporation hall be authorised to hold, including the capital, ftock or shares above mentioned, shall never exceed in value one million of dollars.

*lion of dollars.

the bank to be mana

tors, one of whom to

III. And be it further enacted by the authority aforefaid, Stock, and affairs of That the flock, property, affairs and concerns of the faid ged by thirteen direc corporation fhall be managed and conducted by thirteen be prefident, all to be directors, one of whom to be the prefident, who shall hold chofen yearly, on a their offices for one year, which directors fhall be ftockholcertain day. ders, and fhall be citizens of this ftate, and be elected on the fecond Tuesday of May in every year, at fuch time of the day, and at fuch place in the city of New-York, as a majority of the directors, for the time being, fhall appoint; and public notice fhall be given by the faid directors, in two of the news-papers printed in the faid city, of fuch time and place, not more than twenty, nor less than ten days previous to the time of holding the faid election; and the faid election fhall be held and made, by fuch of the faid ftockholders of the faid bank, as fhall attend for that purpofe, in their own proper perfons, or by proxy; and all elections for directors fhall be by ballot, and the thirteen perfons who fhall have the greatest number of votes at any election, fhall be the directors, except as is herein after directed. And if it fhould happen at any election that two or more perfons have an equal number of votes, in fuch manner that a greater number of perfons than thirteen fhall, by plurality of votes, appear to be chofen as directors, then the faid stockholders herein before authorised to hold fuch election, fhall proceed to ballot a fecond time, and by plurality of votes determine which of the faid perfons fo having an equal number of votes, fhall be the director or di

rectors, fo as to compleat the whole number of thirteen; and the faid di⚫rectors as foon as may be after the faid election, fhall proceed in like manner to elect by ballot one of their number to be their prefident; and four of the directors which shall be chofen at any year, excepting the prefident, fhall be ineligible to the office of director for one year, after the expiration of the time for which they fhall be chofen directors. And in cafe a greater num ber than eight of the directors, exclufive of the prefident, who ferved for the laft year, thall appear to be elected, then the election of fuch perion or perfons above the faid number, and who fhall have the feweft votes, shall be confidered as void, and fuch other of the stockholders as fhall be eligible, and fhall have the next greatest number of votes, fhall be confidered as elected in the room of fuch laft defcribed perfon or perfons, and who are hereby declared ineligible as aforefaid. And the prefident, for the time being, shall always be eligible to the office of director, but stockholders not refiding within this ftate fhall be ineligible, and if any director fhall remove out of this ftate his office fhall be confidered as vacant: And if any vacan may happen, how to cy or vacancies fhould at any time happen among the directors by death, refignation or removal from this ftate, fuch vacancy or vacancies fhall be filled for the remainder of the year in which they may happen by a special election for that purpose, to be held in the fame manner as is herein before directed refpecting annual elections, at fuch time and place in the city of New-York, as the remainder of the directors for the time being, or the major part of them, fhall appoint. And the first directors shall be Ifaac Roosevelt, William Maxwell, Thomas Randall, Daniel M'Cormick, Nicholas Low, William Conftable, Jofhua Waddington, Sanuel Franklin, Comfort Sands, Robert Bowne, Gulian Verplanck, John Murray and William Edgar, and fhall hold their offices refpectively, until the fecond Tuesday of May next.

Vacancies which

be filled.

If an election for

directors fhould not

be heloon any appoin not to be diflolved for

ted day, corporation

IV. And be it further enalled by the authority aforefaid, That in cafe it fhould at any time happen, that an election of directors fhould not be made on any day, when, purfuant to this act, it ought to have been made, the faid corporation fhall not for that caufe, be deemed to be diffolved, but that it fhall and may be lawful, on any other day, to hold and make an election of directors, in fuch manner, as fhall have been regulated by the laws and ordinances of the faid corporation.

thac caufe.

fhares, and uay vote

by proxy.

V. And be it furth r enacted by the authority aforefaid, Stockholders entit. That each stockholder fhall be entitled to a number of votes Ted to a greater or leffer number of votes proportioned to the number of fhares which he or the shall In proportion to their have held in his or her own name at least three months prior to the time of voting according to the following ratios, that isto fay; at the rate of one vote for each fhare not exceeding four, five votes for fix shares, fix votes for eight shares, feven votes for ten fhares, and one vote for every five fhares above ten: Stockholders actually refident within the United States and none other, may vote in elections by proxy. VI. And be it further enacted by the authority aforefaid, Directors, half year. That it fhall be the duty of the directors to make half yearof the profits. ly dividends of fo much of the profits of the faid bank, as to them, or a majority of them fhall appear advifable; and that once in every three years, and oftener, if thereunto required, by a majority of the votes of the flockholders, to be given agreeably to the ratios herein before eftablifhed, they fhall lay before the flockholders, at a general meeting, for their infor

ly to make a dividend

mation, an exact and particular statement of the debts which fhall have remained unpaid, after the expiration of the original credit, for a period of treble the term of that credit, and of the furplus of profis, if any, after deducting loffes and dividends,

to time to make bye

property, for the du

point their ownofficers

VII. And be it further enacted by the authority aforefaid, Directors from time That the directors for the time being, or a major part of Laws, for managing the them, fhall have power to make and prefcribe, fuch byeties of their officers, &c laws, rules, and regulations, as to them shall appear needful and empowered to ap- and proper, touching the management and difpofition of the flock, property, eltate and effects of the faid corporation, and touching the duties and conduct of the officers, clerks, and fervants employed therein, and touching the election of directors, and all fuch other matters as appertain to the bufinefs of a bank; and fhall alfo have power to appoint fo many officers, clerks, and fervants, for carrying on the faid bufinefs, and with fuch falaries and allowances, as to them fhall feem meet. Provided, That fuch bye-laws, rules and regulations, be not repugnant to the conftitution and laws of the United States, or of this flate.

when they may think

not exceeding 100.

VIII. And be it further enfied by the authority aforesaid, The ftate entitled That this flate fhall have a right to fubfcribe any number of proper, to fubfcribe fhares to the faid bank, not exceeding in the whole, the any number of thares, number of one hundred, at any time, when they shall by law, authorife any perfon or perfons for that purpose, and the state shall have a right to increase the number of fhares and flock, which the faid corporation may hold, to the amount of the fum to be fubfcribed, if the number of fhares herein before limitted shall be subscribed before such subfcription fhall take place, on the part of the state.

more than three times

capital.

IX. And be it further enaded by the authority aforefaid, Bank never to owe That the total amount of the debts which the faid corporaahe amount of their tion fhall at any time owe, whether by bond, bill, note or other contract, over and above the monies then actually depofited in the bank, fhall not exceed three times the fum of the capital stock fubfcribed, and actually paid into the bank; and in cafe of fuch excefs, the directors, under whofe administration it shall happen, fhall be liable for the fame, in their natural and private capacities; but this fhall not be conftrued to exempt the faid corporation, or any eftate real or perfonal, which they may hold as a body corporate, from being alfo liable for, and chargeable with the faid excefs; but fuch of the faid directors, who may have been abfent when the faid excess was contracted, or who may have diffented from the refolution or act, whereby the fame was fo contracted, may respectively exonerate themselves from being fo liable, by giving immediate notice of the fact, and of their abfence or diffent, to the mayor or recorder of the city of New York, and to the ftockholders, at a general meeting, which they fhall have power to call for that purpose: And further, It mores payable in the fhall not be lawful for the faid corporation to emit any notes, or contract debis, which fhall be payable in the bills of credit, emitted by the laws of this ftate.

Bank to emit no

bills of credit of this fate.

What kind of real property lawful for

the bank to hold, and

X. And be it further enacted by the authority aforefaid, That the lands, tenements, and hereditaments, which it fhall be lawful for the faid corporation to hold, fhall be only fuch as fhall be requifite for its immediate accommodation, in relation to the convenient tranfacting of its bufiness, or fuch as fhall have been bona fide mortgaged to it, by way of fecurity, or conveyed to it in fatis

for what ufe,