meeting of the said company, and the residue within one year from the passing of this act, in such instalments, and under such penalties, as the president and directors shall in their discretion direct and appoint. And the said capital stock shall not be sold or transferred, but shall be holden by the original subscribers thereto, for and during the term of one year after the said company shall go into operation.

SECT. 3. Be it further enacted, That the stock, property, affairs and concerns of the Election of said company shall be managed and conducted by thirteen directors, one of whom shall directors. be president of said company, who shall hold their offices for one year, and until others

are chosen, and no longer, and who shall at the time of their election be stockholders [Sections 3. 4. 5. in said company, and citizens of this Commonwealth, and shall be elected on the sec- repealed,

ond Monday in February, in each and every year, at such time of the day and at such 1835 ch. 120.]

place in Boston as a majority of the directors for the time being shall appoint, of which election public notice shall be given in two of the newspapers printed in Boston, and continue for the space of ten days immediately preceding such election, and the elec

tion shall be made by ballot, by a majority of the stockholders present, allowing one Right of voting. vote to each share in the capital stock. Provided, that no stockholder shall be allowed more than fifteen votes, and absent stockholders may vote by proxy, under such regulations as the said company shall prescribe. And if, through any unavoidable accident, the said directors shall not be chosen on the second Monday in February as aforesaid, it shall be lawful to choose them on any other day in the manner herein provided.

SECT. 4. Be it further enacted, That the directors, when chosen, shall meet as soon President. as may be after every election, and shall choose out of their body one person to be president, who shall be sworn or affirmed to the faithful discharge of the duties of his office, and who shall preside for one year, and until another be chosen. And in case of the death, resignation or inability to serve of the president, or any director, such vacancy or vacancies shall be filled for the remainder of the year in which they happen by a special election for that purpose, to be held in the same manner as herein before directed, respecting annual elections of directors.

SECT. 5. Be it further enacted, That the president and six of the directors, or seven Board for doing of them in his absence, shall be a board competent to the transaction of business, and business. all questions before them shall be decided by a majority of votes; and they shall have power to make and prescribe such by-laws, rules and regulations, as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate and effects of said company, and the transfer of the shares, and touching the duties and conduct of the several officers, clerks and servants employed, and the election of directors, and all such matters as appertain to the business of insurance: and shall also have power to appoint a secretary, and as many clerks and servants, for carrying on the said business, and with such salaries and allowances to them and to the president, as to the said board shall seem meet: provided, such by-laws and regulations shall not be repugnant to the constitution and laws of this Commonwealth.

SECT. 6. Be it further enacted, That any two or more of First meeting. the persons named in this act are hereby authorized to call a meeting of said company, by advertising the same for two successive weeks in the Columbian Centinel, Boston Patriot, and Daily Advertiser, printed in Boston, for the purpose of electing their first board of directors, who shall continue in office till the second Monday in February then next ensuing, and until others shall be chosen in their stead. Provided, however, that this charter shall be void and of no effect, unless put into operation, agreeably to the terms of it, within one year from and after the passing of this act and provided, also, that the said company shall not take any risk, or subscribe any policy, by virtue of this act, until twenty-five thousand dollars of the capital stock of said company shall have actually been paid in.

risks.

SECT. 7. Be it further enacted, That said company shall Limitation of never take on any one risk, or loan on respondentia or bottomry, at any one time, including the sum insured by them, in any other way on the same bottom, a sum exceeding seven per centum on the capital stock of said company actually paid, agreeably to the provisions of this act.

Location.

Liability to be taxed.

Persons incorporated.

SECT. 8. Be it further enacted, That the said insurance company shall be located and kept in the city of Boston.

SECT. 9. Be it further enacted, That the said insurance company shall be liable to be taxed by any general law providing for the taxation of all similar corporations which are by law liable to be taxed. [March 1, 1831.] Add. acts, 1833 ch. 56: 1835 ch. 120.

Chap. 64. An Act to incorporate the Proprietors of the New Baptist Meeting-house in Woburn. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That Abel Winn, John Cummings, Samuel Abbot, John Tidd, and their associates, now proprietors of the new Baptist meeting-house in Woburn, together with all such as may, by the terms of this act, become their successors, be, and they are hereby made a body politic and corporate, by the name of the Proprietors of the New Baptist Meeting-house in Woburn, for the purpose of holding and maintaining said meeting-house, with all the powers and privileges, and subject to all the duties and liabilities incident to corporations.

Membership.

Assessments.

First Meeting.

Chap. 65.

Persons incorporated.

SECT. 2. Be it further enacted, That all persons who now are, or shall hereafter become members of this corporation, shall signify their assent thereto in writing; but no person, except the present proprietors of said meeting-house, shall hereafter become a member of said corporation, or be in any way interested therein, unless by a major vote of the legal members of the

same.

SECT. 3. Be it further enacted, That no corporator shall be entitled to more than one vote at any meeting of said corporation; and all taxes and assessments which shall be made or levied for repairing or paying for said meeting-house and its appurtenances, shall be assessed upon the polls and estates of the corporators, according to the valuation thereof in the several towns in which the same may be assessed, for town or county taxes, and may be sued for in an action of debt, in any court proper to try the same provided, that no suit shall be commenced against any member, for any such tax or assessment, until the expiration of sixty days after notice and request to pay the same.

SECT. 4. Be it further enacted, That any justice of the peace, for the county of Middlesex, may issue his warrant for calling the first meeting of said corporation, and that this act may be altered, amended or repealed, at the pleasure of the Legislature. [March 4, 1831.]

An ACT to incorporate the Lyceum Hall, in the Town of Charlestown.

SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That Chester Adams, David Stetson, Abraham R. Thompson, Abijah Goodridge, Isaac Warren, Timothy Walker, Thomas Marshall, James Bird, Jr., Joseph F. Tufts, Eliab P. Mackintire, William W. Wheeldon, James Gould, John Johnson, Joseph Carter, Nathan A. Tufts, William Tufts, Gilman

Stanley, with their associates and successors, be, and they are hereby made a corporation, by the name of the Lyceum Hall, in the town of Charlestown, for the purpose of affording means and facilities for the prosecution of literary and scientific studies and pursuits, and the dissemination of useful knowledge, and by that name may sue and be sued, plead and be impleaded, appear, General powprosecute and defend, to final judgment and execution, and may have a common seal, and may elect such officers, and make and establish such by-laws and regulations as they may deem necessary or expedient for the management of their affairs, provided that such by-laws and regulations shall not be repugnant to the constitution and laws of this Commonwealth.

ers.

sonal estate.

SECT. 2. Be it further enacted, That the corporation here- Real and perby established may take and hold real estate, not exceeding the value of twenty-five thousand dollars, and personal estate, not exceeding the value of five thousand dollars, to be used for the purposes aforesaid, with liberty, however, to lease or otherwise dispose of such apartments, in any buildings to be erected by them, as may at any time not be needed for their accommodation for said purposes.

SECT. 3. Be it further enacted, That the stock of said Shares. corporation shall be divided into shares of fifty dollars each, the certificates of which shall be signed by the president and treasurer of said corporation, and recorded in a book, to be kept by said treasurer for that purpose, and which shall be transferable in such manner as shall be prescribed by the by-laws of said company; and all transfers of the said stock shall be duly recorded by the treasurer.

SECT. 4. Be it further enacted, That either of the persons First meeting. named in the first section of this act, be, and is hereby authorized to call the first meeting of the corporation, by giving notice in the newspaper printed in the town of Charlestown, at least seven days before the time of holding such meeting.

trol.

SECT. 5. Be it further enacted, That this act may be Legislative conamended or repealed at the pleasure of the Legislature. [March 4, 1831.]

Chap. 66.

An ACT to incorporate the Proprietors of the Female Seminary in Springfield. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That James Byers, John Howard, Samuel Osgood, Persons incorBenjamin Day, Samuel Lyman, George Ashmun, Charles porated. Stearns, James Brewer, Simon Sanborn and John Hooker, their associates and successors, be, and they hereby are incorporated, as the Proprietors of the Female Seminary in Springfield,

with power to hold real estate, not exceeding in value ten thous- Real and perand dollars, and personal estate, not exceeding in value five thous-sonal estate. and dollars, to be devoted exclusively to the purposes of education. And said corporation shall have all the powers usually incident to similar corporations, and may make all necessary bylaws, not repugnant to the constitution and laws of this Commonwealth.

First meeting.

Chap. 67.

porated.

SECT. 2. Be it further enacted, That any two of the persons named in this act may call the first meeting of said corporation, by giving notice of the time and place, seven days at least previously thereto, in some one of the newspapers printed in Springfield and the Legislature may, at any time hereafter, amend or repeal this act. [March 4, 1831.]

:

An ACT to incorporate the American Institute of Instruction. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the Persons incor- same, That Francis Wayland, Jr., William B. Calhoun, William Sullivan, John Adams, John Park, Nathan Lord, Thomas H. Gallaudet, Andrew Yates, Theodore Frelinghuysen, Roberts Vaux, William C. Fowler, Reuben Haines, Benjamin O. Peers, Nathan Guilford, Gideon F. Thayer, Solomon P. Miles, William C. Woodbridge, Ebenezer Bailey, Asa Andrews, Otis Everett, and James G. Carter, together with their associates, be, and they hereby are made and constituted a corporation, in the city of Boston, by the name of the American Institute of Instruction, with all the powers, rights, duties and liabilities, usually incident to corporations, for the purpose of promoting and improving the means of education and instruction in morality, science and literature.

By-laws.

Real and personal estate.

First meeting.

Legislative control.

Chap. 68.

porated.

SECT. 2. Be it further enacted, That the said corporation may appoint such officers, and make such by-laws, rules and regulations, as it may see fit, provided the same be consistent with the constitution and laws of this Commonwealth.

SECT. 3. Be it further enacted, That said corporation may hold real estate to the value of ten thousand dollars, and personal estate to the value of twenty thousand dollars, in its corporate naine, and use and improve the same for the benefit of this institution, and for all lawful purposes incident to the powers hereby granted.

SECT. 4. Be it further enacted, That any person named in this act may call the first meeting of the members of this corporation, by public advertisement in any newspaper printed in Boston, two weeks successively before the day of meeting.

SECT. 5. Be it further enacted, That this act shall be subject to be altered, or amended, or repealed, at any time, at the will of the Legislature. [March 4, 1831.]

An ACT to incorporate the Proprietors of the Boxford Academy. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of Persons incor- the same, That Solomon Low, Phineas Barnes, Jeremiah Young, Asa Foster, Nathan Andrews, and Samuel Andrews, their associates and successors, be, and they hereby are incorporated as the Proprietors of the Boxford Academy, in the town of BoxReal and per- ford, with power to hold real estate, not exceeding in value five thousand dollars, and personal estate not exceeding in value ten thousand dollars, to be applied exclusively to the purpose of education; and said corporation shall have all the powers usually in

sonal estate.

cident to similar corporations, and may make all necessary bylaws not repugnant to the constitution and laws of this Commonwealth.

SECT. 2. Be it further enacted, That any two of the per- First meeting. sons named in this act, may call the first meeting of said corporation by giving notice of the time and place of holding the same, ten days previously thereto, in some newspaper printed in the town of Haverhill, or by giving personal notice to each person named in this act ; and the legislature may, at any time hereafter, amend or repeal this act. [March 4, 1831.]

An Act to incorporate the Northborough Cotton Manufacturing Company. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority

Chap. 70.

of the same, That Isaac Davis and Oliver Eldredge, together Persons incorwith such others as now are, or may hereafter be associated with porated. them, their successors or assigns be, and they hereby are made a corporation, by the name of the Northborough Cotton Manufacturing Company, for the purpose of manufacturing cotton and

woollen goods in the town of Northborough, and for this purpose Powers and dushall have all the powers and privileges, and shall be subject to ties. all the duties and requirements, prescribed and contained in an act, passed the twenty-third day of February, in the year of

our Lord one thousand eight hundred and thirty, entitled "an 1829 ch. 53. act defining the general powers and duties of manufacturing corporations.'

al estate.

SECT. 2. Be it further enacted, That the said Northbo- Real or personrough Cotton Manufacturing Company may lawfully hold and possess such real estate not exceeding the value of ten thousand dollars, and such personal estate not exceeding fifty thousand dollars, as may be necessary and convenient for carrying on the manufacture aforesaid. [March 4, 1831.]

An ACT to continue the corporation of the President, Directors and Company of the Chap. 71.

Pacific Bank.

1812 ch. 45.

SECT. 1. BE it enacted by the Senate and House of Repre- 1817 ch. 65. sentatives, in General Court assembled, and by the authority of the same, That the President, Directors, and Company of the Pacific Bank Pacific Bank in Nantucket, capital stock two hundred thousand continued. dollars, be, and they hereby are continued a corporation for the purposes of banking, until the first day of October, which will be in the year of our Lord one thousand eight hundred and fifty-one, notwithstanding any limitation in their charter of incorporation to

the contrary. And said corporation shall be entitled to all the Powers and dupowers and privileges, and subject to all the duties, liabilities and ties. requirements provided in an act passed the twenty-eighth day of February, in the year of our Lord one thousand eight hun

dred and twenty-nine, entitled "an act to regulate banks and 1828 ch. 96. banking," and the provisions of an act passed the twenty-eighth day of February, in the year of our Lord one thousand eight hun

dred and thirty-one, entitled "an act to continue the banking cor- 1830 ch. 58. porations therein named, and for other purposes."