General any of the public or other securities, stocks, or evidences of powers of di- debt, in which the capital stock and funds of the company rectors rela- shall be invested, and the proceeds of any such sale or trans tive to investment. Proviso. fer to re-invest in any securities or stocks, or loan on real or personal security as aforesaid as may be deemed expedient: Provided, That nothing herein contained shall be construed to authorize the said company to use their funds for banking purposes. SECT. 29. And be it further enacted by the authority aforesaid, That the president and directors of said corporation, Appointment for the time being, shall have power to appoint a secretary, of secretary, treasurer and such other officers and agents as shall be netreasurer, &c. cessary for conducting and executing the business of said corporation, and to allow them such compensation for their services as they shall deem reasonable, and generally to exercise all other powers and authorities for the proper man agement and direction of the affairs and funds of said corporation as may be allowed by this act, or the ordinances or by-laws of the corporation, and especially shall have power to prevent the transfer of any stock while the holder thereof Security of shall be indebted to the company; the secretary, treasurer and other officers to give such security as the president and directors may require. officers. of insurances authorized. SECT. SO. And be it further enacted by the authority aforesaid, That the president and managers of said company shall have full power on behalf of said corporation to make Description insurances against losses by fire on any house, tenement, manufactory or other buildings, and on goods, wares, merchandize and effects therein, and on hay, grain and on other agricultural products, in barns, stacks or otherwise, and generally on all kinds of buildings, and of goods, merchandize, stock and effects, upon farms or elsewhere in the county of Franklin, and to make, execute and perfect such and so many contracts, bargains and agreements,policies and other instruments as shall and may be necessary, and as the nature of the case may require, and every such contract, bargain, Of the poli- agreement and policy to be made by the said corporation, shall be in writing or in print, and shall be under the seal of the corporation, signed by the president and attested by the secretary or other officers who may be appointed by the president and managers for that purpose, and also by the party insured. cies. SEOT. S1. And be it further enacted by the authority afore Semi-annual said, That the president and directors shall, on the first declaration of Monday of May and November in each year, declare a didividends. vidend of so much of the profits of the corporation as to them shall appear advisable, to be paid to the respective stockholders agreeably to such regulations as the said preclude premi. sident and directors may adopt, but the moneys received as ums on risks premiums on risks, which remain undetermined and outundetermin'd standing at the time of declaring the dividends respectively, Not to in shall not be computed as any part of the profits of said corporation. SECT. 32. And be it further enacted by the authority aforesaid, That in case any loss shall happen by which the capital Capital stock stock shall be diminished, no dividend shall be made until to be kept the amount of such diminution shall be supplied and added unimpaired to the capital, and any president or director who shall declare by losses. any dividend contrary to the foregoing prohibition shall be Directors liable in his individual capacity to the said company for the amount of the stock or dividend so divided or declared, for improper may be liable and each director present when such dividend shall be made, declaration of shall be adjudged to be consenting thereto unless he forth- dividends. with enter his protest on the minutes of the board, and give public notice thereof to the stockholders. Reservation SECT. 33. And be it further enacted by the authority aforesaid, That the Legislature reserve the right to revoke or alter the charters extended or granted by this act in any of right to way that may be deemed conducive to the interest of the repeal, &c. state. SAM'L. ANDERSON, Speaker of the House of Representatives. JESSE R. BURDEN, Speaker of the Senate. APPROVED-The third day of April, A. D. one thousand eight hundred and thirty-three. GEO. WOLF. No. 71. A SUPPLEMENT To the act entitled, "An act for the sale of the vacant lands within this Commonwealth," passed the third of April, one thousand seven hundred and ninety-two. SECT 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania, in General Assembly met, and it is hereby enacted by the authority of the same, That so much of the act to which this is a supplement, as requires an improvement, settlement and resi- Certain pro dence to be made, on any tract of land sold under and by virtue of the said act, in order to the confirmation and com- repealed, &c. vision of original act Proviso. This act not to impair existing rights. 2d proviso. Patents under this act no evidence against set tlers. pletion of the title thereto, be and the same is hereby repealed; and if any tract of land requiring the performance of such conditions to the perfecting of its title, has been or shall be fully paid for, duly surveyed and returned, a patent, if not already granted, may and shall be granted to the owner thereof, upon the payment of the usual fees of office, and the title to every such tract of land shall be as valid, as if the improvement, residence and settlement, required by the said act, had been made: Provided, nevertheless, That nothing in this act shall be construed to impair or affect any right or title that may have been acquired by residence, settlement and improvement, agreeably to and under the provisions of the said act, or otherwise, nor to give any advantage to either party, in any suit now pending, or that may be hereafter brought; but every such right and title shall be as valid and effectual, as if this act had not been passed: And provided further, That no patent, granted to a warrantee in pursuance of this act, shall be given in evidence against any actual settler, or person claiming under him, in any cause where the title to said land shall come in question. SAM'L. ANDERSON, Speaker of the House of Representatives. JESSE R. BURDEN, Speaker of the Senate. APPROVED-The third day of April, A. D. one thousand eight hundred and thirty-three. GEO, WOLF. No. 72. AN ACT To improve the navigation of the river Youghiogheny. SECT. 1. Be it enacted by the Senate and House of Repre sentatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the $600 approsame, That the Governor be, and he is hereby authorized priated to be and required, to draw his warrant on the State Treasurer, expended by in favor of Henry Blackstone, William Walker and Wilcertain com- liam L. Miller, of Fayette county, for six hundred dollars, who are hereby appointed commissioners to expend the obstructions, same, who shall have power, and it shall be their duty, to missioners in removal of cause to be removed all obstructions which impede or injure the navigation of said river Youghiogheny, by removing rocks and other obstructions within the channel of said river, from the mouth of Indian creek, in Salt Lick township, to Connelsville, in Fayette county, and said improvements to commence as early as convenient, and for that purpose to employ suitable persons to perform said work. SECT. 2. And be it further enacted by the authority afore said, That the said commissioners shall each be entitled to Fayette co, to receive one dollar and fifty cents per day, for every day compensate necessarily employed in performing the duties enjoined on comm'rs. them by this act, to be paid out of the treasury of Fayette county. common SECT. 3. And be it further enacted by the authority aforesaid, That before the said commissioners shall draw the Surety to money hereby appropriated, they shall enter into bond to the commonwealth, with one or more sureties, to be approved of wealth. by one of the judges of the court of Common Pleas of the county of Fayette, for the faithful and judicious expenditure of said money. SAM'L. ANDERSON, Speaker of the House of Representatives. JESSE R. BURDEN, Speaker of the Senate. APPROVED-The fourth day of April, Anno Domini, eighteen hundred and thirty-three. GEO. WOLF. No. 73. AN ACT To establish a Seminary by the name of "Haverford School Association." WHEREAS a number of individuals, being desirous of establishing a seminary, in which young men shall be in- Preamble. structed in the liberal arts and sciences, have associated together: And whereas, the establishment of such a seminary would tend to diffuse information, and promote the public good: Therefore, SECT. 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania, in General Assembly met, and it is hereby enacted by the authority of the same, That Thomas P. Cope, Thomas C. James, Samuel Association Bettle, Isaac Davis, and Daniel B. Smith, and their associ- incorporated. Style. &c. ates and successors for ever, be, and they are hereby created and made a body politic and corporate, in deed and in law, by the name, style and title of Haverford School Association," and by the same shall have perpetual succession, and are hereby made able and capable in law, to have, purchase. receive, take, hold, possess, enjoy, and retain to them and their successors, lands, rents, tenements, hereditaments, stock, goods, chattels and effects, of what kind, nature, quality or condition soever, whether real or personal, by gift, grant, demise, bargain and sale, devise, bequest, testament, legacy, or by any other mode of conveyance or transfer whatever: (Provided the yearly income arising from the same, Annual in and subject to the annual disposition of the said association come limited. shall not exceed the sum of ten thousand dollars, money of the United States,) and the same to give, grant, bargain, sell, demise, convey, assure, transfer, alien, and dispose of to others, for the whole, or any less estate than they have in the same; and also, to improve and augment the same in such manner and form as the said association, by their by-laws and regulations shall order and direct, and shall and inay apply the same, with the rents. issues and profits, income and interest of such estate, and the moneys arising from the sales or alienation of any part thereof, to the use, ends, intents and purposes of their institution, according to the rules, orders, regulations and constitution of the said association, as fully General pow- and effectually as any natural person, or body politic and corporate within this state, by the laws and constitution of the commonwealth, can do and perform; and the said association, by the name, style and title aforesaid, shall and may sue and be sued, plead and be impleaded, answer and be an swered, defend and be defended in all courts of law and equity within this commonwealth or elsewhere; and also, to make, have, and use a common seal, and the same to break, alter, and renew at their pleasure; and also, to ordain, establish, change, and put in execution such by-laws, ordinances, and regulations as to them shall seem meet, not being contrary to the laws and constitution of this commonwealth; and generally to do and execute all and singular the acts, matters and things which to the said corporation shall or may appertain: Provided always, That if the aforesaid associa Application tion shall take or apply to the erection or support of their of property said school or association, or for any other purpose, any of the property, real or personal, which now is, or heretofore has been held in trust for any religious society, then, in that case their chartered privileges shall cease, determine, and revert to this commonwealth. ers and lia bilities. Proviso. held in trust prohibited. SECT. 2. And be it further enacted by the authority aforeOf the capital said, That the capital stock of the association shall consist stock. of six hundred shares, of one hundred dollars each; and the school may go into operation, whenever the sum of forty thou |