Subscriptions to stock. Distribution of stock. Directors. pany, showing that the said sum of fifty thousand dollars has been so paid in, shall be filed in the office of the secretary of state, to commence its said business; and with that capital to conduct and carry on the same, until they shall find it expedient to extend their capital, which they are authorised to do, from time to time, to the amount herein before mentioned. $3. The subscription to the said stock shall be opened under the direction of William Roe, John P. De Wint, Abraham M. Smith, John Harris, Samuel Williams, Benoni H. Howell, Benjamin Carpenter, Christopher Reeve and Augustus F. Scofield, who are hereby appointed commissioners for that purpose, and authorised to receive subscriptions to the said capital stock, on such days and at such places in the village of Newburgh as they shall appoint, giving at least fourteen days' previous notice of such time and place of receiving subscriptions, in two of the public newspapers, one printed in the said village of Newburgh, and the other in the city of NewYork; and the sum of five dollars on each share subscribed shall be paid to the said commissioners at the time of subscribing as aforesaid; and in case the amount of two hundred thousand dollars of the stock shall not be taken on said day, then the said commissioners may, on such other day or days, and at such other place or places, as they shall from time to time appoint, receive further subscriptions, until the whole required capital stock shall have been subscribed for and taken up. $4. The commissioners shall proceed to distribute the capital stock of the said corporation among the subscribers thereto, in such manner and to such amount, as they shall deem most advantageous to the interests of the corporation; but no such distribution shall be made until fifty thousand dollars of such stock shall have been subscribed. S 5. The stock, property, affairs and concerns of the said corporation shall be managed and conducted by nine directors, who shall choose one of their number to be their president, and who shall hold their offices for one year from the first Tuesday of January in every year; which said directors, except those appointed by this act, shall be stockholders to an amount not less than ten shares, and citizens of the United States; and the said directors shall be elected on the last Tuesday in December in every year, and at such time of the day, and at such place in the village of Newburgh, as a majority of the directors for the time being may appoint; and the said directors shall appoint three of the stockholders of the said company, who are not directors, to be inspectors of the said annual election; and public notice of such election shall be given by the directors, not less than fourteen days previous to the time of holding the same, by an advertisement to be in serted in one of the newspapers printed in the village of Newburgh such election shall be made by ballot, either in person or by proxy, and each stockholder shall be entitled to give one vote for each share held by him; and the nine persons having the greatest number of votes at an election shall be directors; but if at any election it shall so happen, that nine directors shall not be elected upon the first ballot, by the greatest number of votes, by reason of two or more persons receiving an equal number of votes, then the directors in office at the time of such election, shall appoint a sufficient number of persons from among those having an equal number of votes, to complete the number of nine directors. And if any vacancy shall at any time happen among the directors, by death, resignation or otherwise, such vacancy shall be filled for the remainder of the year in which it may happen, by such person as the remainder of the directors for the time being shall appoint: and the persons above named as commissioners, shall be directors until the first Tuesday in January, in the year one thousand eight hundred and thirty-three. $6. In case it should at any time happen that an election of Election. directors should not be made on the day upon which, pursuant to this act, it ought to be made, the said corporation shall not, for that cause, be dissolved; but it shall and may be lawful to hold such election on such other day, in the manner aforesaid, as shall be prescribed by the laws and ordinances of the said corporation; and until such new election shall be had, the directors of the preceding year shall continue to be directors of the said corporation. stockholders. $7. The president and directors of the said company may Calls on call for and demand of the stockholders or subscribers for stock respectively, all such sums of money as are by them respectively subscribed; which said sums such stockholders and subscribers are hereby declared liable to pay, at such times and in such proportions as the said president and directors shall deem best for the interest of the company, the said president and directors giving thirty days previous notice of such call or demand in one of the public newspapers printed in the village of Newburgh, and also in a public newspaper printed in the city of New-York; and in case of failure to pay the same, the said president and directors may declare the shares of such subscriber or stockholder so failing, forfeited, and such shares, with all previous payments made thereon, shall be thereby forfeited and become the property of the said corporation. $ 8. No transfer of stock shall be valid or effectual until Transfers. such transfer shall be entered or registered in the book or books to be kept by the president and directors for that purpose. The stock shall be deemed to be personal property. Real estate. Restriction. Duration of act. Rights reserved. Foreigners. Act to take effect. F. Carpenter taxes. $9. The said corporation shall be authorised to purchase and hold real estate to an amount not exceeding twenty-five thousand dollars, and convey the same. $ 10. It shall not be lawful for the said company to employ any part of their joint funds, or capital stock, in the buying of oil or sperm in the state of New-York, or in any other state of the United States. $ 11. The said corporation shall continue during the period of twenty years, and shall possess the general powers, and be subject to the general restrictions and liabilities prescribed in the third title of the eighteenth chapter of the first part of the Revised Statutes. $12. The legislature may at any time alter, modify or repeal this act. $ 13. No foreigner shall ever be a stockholder, or in any interested in said company. way $ 14. This act shall take effect from the passage thereof. CHAP. 5, AN ACT relative to the collection of Taxes in the Town of Franklinville, in the County of Cattaraugus. Passed January 24, 1832. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: S 1. It shall be lawful for Frederick Carpenter, collector of may collect the town of Franklinville in the county or Cattaraugus, to collect the amount of the tax-roll of said town, as amended by the clerk of the board of supervisors, since the adjournment of said board, by adding thereto the sum of two hundred dollars, together with the collector's fees thereon, pursuant to resolution of said board, but which sum was, in the original tax-roll, omitted. To settle treasurer. $ 2. The time for the said collector to settle with the counwith county ty treasurer, is hereby extended to the first day of March next; but such extension shall not be given unless the surety of the said collector shall first file in the clerk's office of said county, their written assent thereto, signed and sealed; upon which, this act shall take effect. $ 3. This act shall take effect immediately after its passage. СНАР. 6. AN ACT to incorporate the Mutual Benefit Society of Passed January 24, 1832. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: S1. There shall be established and located in the city of Name of New-York, a charitable society, by the name of the Mutual society. Benefit Society of Mechanics in the city of New-York. created. $ 2. Abraham Carlock, William Wright, Edward Town- Corporation ley and George W. Macpherson, and such other persons as shall hereafter become members of said society, are hereby constituted a body corporate, by the name aforesaid. $3. The said corporation shall have power to prescribe By-laws. rules and regulations for the admission of members, and for expelling them for the non-observance of its by-laws. $ 4. The object of this society is to afford mutual relief to Object of the members thereof, and their families, in cases of sickness #ociety. or death. S5. The corporation may purchase and hold real and per- Estate. sonal estate, for their use and benefit, but the same shall not exceed, at any one time, five thousand dollars. powers. $6. This corporation shall possess the general powers, and General be subject to the general restrictions and liabilities prescribed in the third title of the eighteenth chapter of the first part of the Revised Statutes. $7. The legislature may at any time hereafter alter, modi- Rights refy or repeal this act. CHAP. 7. AN ACT to amend the Act entitled "Of Courts held by Passed January 24, 1832. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: S1. The party procuring a certiorari need not execute the bond required by law to be given in such case; and the same shall be sufficient if executed by two or more securities, whose competency shall be approved by the judge allowing the cer served. tiorari, or the justice on whose judgment the certiorari is brought. $2. This act shall take effect immediately after its passage. Regents to transfer stock, &c. Accounts to be audited. Schedule to be made yearly. Warrants on troaaurer. CHAP. 8. AN ACT for the improvement of the Literature Fund. $1. The regents of the university shall, within sixty days after the passage of this act, transfer to the comptroller all the stock, money, securities and property belonging to the literature fund in their possession, or under their control. $2. The comptroller shall annually audit and settle the accounts for necessary incidental expenses of the said regents of the university. $3. The regents of the university shall annually deliver to the comptroller a schedule of the distribution of the income of the said literature fund, designating the several institutions entitled to a participation, and the amount awarded to each; which schedule shall be delivered immediately after each annual distribution, and shall be authenticated by the signature of the chancellor and secretary of the said regents of the university, and their corporate seal. S4. The comptroller shall draw his warrant on the treasurer in favor of each institution, for the sum so awarded to it, and shall direct the manner in which the same shall be receipted and drawn from the treasury. CHAP. 9. AN ACT relating to Jurors in the County of Franklin. Passed January 25, 1832. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: $1. The clerk of the county of Franklin shall draw the names of twenty-four persons, instead of thirty-six, to serve as jurors in any circuit court, or sittings, or any special court of oyer and terminer, when no circuit is appointed to be held at |