$4. The affairs of the corporation shall be conducted by Directors. fifteen directors, who shall be stockholders in said corporation; and the first directors of said incorporation shall be Joseph Denison, Edward Bronson, Gerrit Smith, Elias Trowbridge, Theophilus S. Morgan, Richard L. De Zeng, Horatio N. Walton, Josiah T. Marshall, John T. Trowbridge, Frederick Bushnell, Elisha Camp, Jacob Arnold, William Baron, John C. Bush and Samuel Denison, who shall respectively hold their offices until the first Monday of March, in the year one thousand eight hundred and thirty-two. directors. $5. The first election for directors shall be held on the Election of third Monday of February, one thousand eight hundred and thirty-two. The directors then chosen, shall take their seats on the first Monday of March ensuing, and hold their office for one year; all succeeding elections shall be held annually on the third Monday of February in every year, and the directors shall take their seats on the first Monday of March ensuing. Two weeks notice of the time and place of holding elections shall be given in one or more newspapers printed in the county of Oswego. $6. The directors hereby appointed, shall, as soon as may President. be, choose one of their number president, and the directors hereafter to be elected, shall at their first meeting elect one of their number as president. A majority of the directors shall constitute a board for transacting business. $7. Each stockholder shall be entitled to one vote on each Votes. share of stock held by him in his own name, one month previous to the day of election, and may vote in person or by proxy. $ 8. All elections shall be by ballot, and the persons having Ballot. the greatest number shall be directors; and if two or more persons shall have an equal number of votes, then the directors who shall have been duly elected, shall by plurality of votes deermine which of the said persons so having an equal number of votes, shall be director or directors. $9. If an election of directors should not be had at the Saving time specified in this act, the directors for the time being shall clause. continue to be directors until others are duly elected. $10. The stockholders of said corporation shall be jointly and severally, personally liable for the payment of all debts or demands contracted by the said corporation, or their authorised agent or agents, or demands for which the corporation may become liable, as common carriers; and any person having any demand against the said corporation, may sue any stockholder, director or directors, in any court having cognizance thereof, and recover the same with costs. Liability of stockholders. Suits. Goneral powers. Business to be done at Oswego. Charter ex• tended to 1855. Subject to Directors. 11. Before suit shall be commenced upon any demand under the preceding section of this act, judgment shall have been obtained against said company upon such demand, and execution issued thereon and returned unsatisfied, in whole or in part, or the said corporation shall have been dissolved. S 12. This corporation shall possess the general powers, and be subject to the general restrictions and liabilities contained in the third title of the eighteenth chapter of the first part of the Revised Statutes. $ 13. The elections and the meetings of the directors of said company shall be held in the village of Oswego, in the county of Oswego, and the business of said corporation shall be confined solely to the navigation of Lake Ontario and the river St. Lawrence. CHAP. 23. AN ACT to extend, for a limited period, the Charter of the Tradesmen's Bank, in the City of New-York. Passed January 29, 1881. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: $1. The act entitled "An act to incorporate the stockholders of the Tradesmen's Bank in the city of New-York," passed March 29, 1823, and all acts and parts of acts relating to the same which are now in force, shall be, and they are hereby continued in force, until the first day of January which will be in the year of our Lord one thousand eight hundred and fiftyfive, except that from and after the filing of the assent hereinafter mentioned, so much and such parts of the said acts as may be repugnant to such of the provisions contained in the eighteenth chapter of the first part of the Revised Statutes as are not repealed, and the provisions contained in the act, entitled "An act to create a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2d, 1829, shall be, and they are hereby repealed; subject, however, to the modifications mentioned in the fourth section of this act. S 2. The said corporation shall be subject to such of the provisions contained in the eighteenth chapter of the first part of the Revised Statutes as are not repealed, from and after the filing of the assent hereinafter mentioned, except so far as the same are modified by the act last recited in the next preceding section. S3. No person shall be a director of such corporation, who does not hold, in his own right, free from all and every incum act of April brance by way of hypothecation, at least one thousand dollars of the capital stock of the said corporation; and when such director shall cease to hold the said sum of one thousand dollars of such stock, his office as such director shall become vacant. S4. The said corporation shall be subject to the operation Subject to of the provisions contained in the act entitled "An act to cre- 2, 1829. ate a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2d, 1829, from and after the filing the assent hereinafter mentioned, except the twenty-seventh section of the last mentioned act, which shall be binding upon said corporation from and after the first day of July, one thousand eight hundred and thirty-one. $5. The provisions of the acts relative to the said corpora- Bill. tion, now in force, regulating the amount of notes or bills loaned or put in circulation, and the amount of the loans and discounts of said corporation, shall be in force and obligatory upon said corporation, until the said first day of July, one thousand eight hundred and thirty-one. $6. It shall not be lawful for the said corporation to take a Loans. hypothecation of its own stock, as security for any loan or discount made by such corporation. $7. The charter of the Tradesmen's bank in the city of Condition New-York, shall not be hereby extended, unless the said corporation shall, on or before the first day of July next, signify its assert to, and acceptance of, the provisions of, this act, to be signified by causing to be filed with the comptroller of this state, a certificate thereof, under the corporate seal of the said corporation, signed by the president and cashier of the said corporation; also a certificate of one or more of the bank commissioners, setting forth the condition of said corporation, and its ability to fulfil its engagements, and that the capital stock has been actually paid in, and remains undiminished, except so far as such liminution is authorised by this act. $8. If the said corporation shall become insolvent before the In case of ir. first day of January, in the year one thousand eight hundred solvency. and thirty-two, no creditor of the said corporation shall in such case be entitled to any contribution or payment from the “bank fund,” or any of the benefits arising therefrom. ced. S9. The capital stock of the said corporation shall, on fi- Stock roduling the assent herein before mentioned, be reduced to and fixed at four hundred thousand dollars, divided into ten thousand shares of forty dollars each. Power to re $10. The legislature may at any time hereafter, alter, Pow modify, or repeal this act. CHAP. 24. AN ACT to authorise Justices of the Peace to take affida vits in certain cases. Passed January 29, 1831. The People of the State of New-York, represented in Senate and Assembly, do enact as follows : $ 1. All affidavits hereafter to be made by any imprisoned debtor, under the one hundred and fifty-third section of article ninth, title fourth, chapter second of the third part of the Revised Statutes, may be taken before a justice of the peace. And all affidavits which have been made by any imprisoned debtor before a justice of the peace, under said section, shall be as valid, (and have the same force and effect, as if made before an officer authorised to take affidavits,) except in cases in which suit or suits may have been commenced at the passage of this act, involving the question of illegality of such oaths. Charter extended to 1853. Subject to 18 chap. R. 8. CHAP. 25. AN ACT to extend, for a limited period, the Charter of the Passed Jauuary 29, 1831. $1. The act entitled "An act to incorporate the stockholders of the Bank of New-York, in the city of New-York," passed March 21, 1791, and all acts and parts of acts relating to the same which are now in force, shall be and they are hereby continued in force until the first day of January, which will be in the year of our Lord one thousand eight hundred and fifty-three, except that from and after the filing of the assent hereinafter mentioned, so much and such parts of the said acts as may be repugnant to such of the provisions contained in the eighteenth chapter of the first part of the Revised Statutes as are not repealed, and the provisions contained in the act entitled "An act to create a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2, 1829, shall be and they are hereby repealed, subject however to the modifications mentioned in the fourth section of this act. S2. The said corporation shall be subject to such of the provisions contained in the eighteenth chapter of the first part of the Revised Statutes as are not repealed, from and after the filing of the assent hereinafter mentioned, except so far as the same are modified by the act last recited in the next preceding section. act of April §3. No person shall be a director of such corporation, who Directors. does not hold in his own right, free from all and every incumbrance by way of hypothecation, at least one thousand dollars of the capital stock of the said corporation; and when such director shall cease to hold the said sum of one thousand dollars of such stock, his office as such director shall become vacant. S4. The said corporation shall be subject to the operation Subject to of the provisions contained in the act entitled "An act to create a fund for the benefit of the creditors of certain monied corporations, and for other purposes," passed April 2, 1829, from and after the filing of the assent hereinafter mentioned, except the twenty-seventh section of the last mentioned act, which shall be binding upon said corporation, from and after the first day of July, which will be in the year one thousand eight hundred and thirty-one. 2, 1829. circulation. $ 5. The provisions of the acts relative to the said corpora- Not in tion now in force, regulating the amount of notes or bills loaned or put in circulation, and the amount of the loans and discounts of said corporation, shall be in force, and obligatory upon said corporation until the said first day of July, one thousand eight hundred and thirty-one. $6. It shall not be lawful for the said corporation to take Loans. a hypothecation of its own stock, as security for any loan or discount made by such corporation. $7. The charter of the Bank of New-York, in the city of Condition New-York, shall not be hereby extended, unless the said corporation shall, on or before the first day of July next, signify its assent to, and acceptance of, the provisions of this act, to be signified by causing to be filed with the comptroller of this state, a certificate thereof, under the corporate seal of the said corporation, signed by the president and cashier of the said corporation; also a certificate of one or more of the bank commissioners, setting forth the condition of said corporation, and its ability to fulfil its engagements, and that the capital stock has been actually paid in and remains undiminished. In case of $8. If the said corporation shall become insolvent before insolvency. the first day of January, in the year one thousand eight hundred and thirty-two, no creditor of the said corporation shall in such case be entitled to any contribution or payment from the "bank fund," or any of the benefits arising therefrom. $9. The legislature may at any time hereafter, alter, modify or repeal this act. Power to repeal. |