ment under the provisions of this act, or under the provisions of the act SECTION 17. It shall be the duty of the assignees aforesaid, to cause Assignees, duty a scire facias, in the name of the commonwealth of Pennsylvania, to of. be issued by the prothonotary of the court of common pleas of Greene county, against all the stockholders of the said bank, reciting the amount of such deficiency, and requiring them to appear at the next court of common pleas in said county, and show cause why execution should not be issued against them for such amount; and such scire facias shall also set forth the proportions due from each of the said stockholders; and it shall be the duty of the sheriff of said county to serve the said writ upon all stockholders named in said writ, residing within his bailiwick; and it shall be lawful for the court of common pleas, or a judge in vacation, to make such order in reference to giving notices to stockholders, non-residents of the county, and named in said writ, as the case may require: Provided, That the writ of scire facias shall Proviso. not abate by reason of the non-joinder of any stockholder; and in case it shall appear that one or more persons in said writ named, are not liable under the provisions of this act, it shall not vitiate the proceedings against the others. SECTION 18. On the return day of the said writ of scire facias, it shall Writs of execube the duty of the said court to render judgment against the stockholders tion to be awardnamed in said writ, for the several amounts for which they are respec- ed against stocktively liable, if no sufficient cause shall be shown to the contrary, and holders. to award writs of execution as in other cases. transfer of stock liable for one year SECTION 19. If the amount assessed on the shares of any stockholder, under the provisions of the last section, shall not be collected Persons making from such stockholder by reason of his insolvency or his absence from this state, the sum remaining due on such assessment shall be recovera- after such transble against the person from whom the delinquent stockholder, at any fer. time within one year previous to the assignment of the said bank, shall have received a transfer of the shares, or any portion of the shares then held by him; and any person having made such transfer, being made a party by an alias writ of scire facias, shall be liable in the same manner and for the same proportion that he would have been liable had he continued to hold the shares so transferred: Provided, That any person hav- Proviso. ing made an assignment or transfer of his or her stock in the said bank, may discharge himself or herself from liability under this section, by showing that the transactions which caused the insolvency of said bank were made after such assignment or transfer, or such part thereof as he Individuals ownor she may show accrued after such transfer or assignment. ing stock, liable SECTION 20. Every individual who owned stock in his or her own for their proporname, or in the name of any other person or persons, at the time of tions at the time of assignment, such assignment, shall be deemed liable for his or her proportions, under the provisions of this act; but it shall be lawful for any stockholder of the said bank, either before or after process shall have issued, to pay pay their proporhis or her proportionable share of liability to the assignees and receive a tionate share. but may before process issued The term stockholder to extend to every equita ble owner of stock appearing on the books, &c. Provisions of certain act made applicable to all assignments made by this bank. Order of payment. Frauds, how punished. Insolvency to be deemed fraudulent, unless, &c. The term insolvency, how to be construed. Directors to file statement of af fairs after assign ment. Statement. full discharge from them, and the process shall be proceeded in only against the other stockholders that are liable. SECTION 21. The term stockholder, as used in the preceding sections of this act, shall extend to every equitable owner of stock appearing on the books of the said bank at the time of its insolvency, in the name of another person, and to every person who shall have advanced the instalment or purchase money of any shares of stock standing in the name of any of his children, under the age of twenty-one years; but no trustee appointed by a last will and testament, or by a court of competent authority, and no legal or equitable owner of stock under the age of twenty-one years, shall be individually liable on account of the shares so held. SECTION 22. The several provisions of the act of the fourteenth June, one thousand eight hundred and thirty-six, entitled "An Act relating to assignees for the benefit of creditors and other trustees," shal! be held to apply to all assignments made by the said bank, and the courts shall exercise all the powers therein given, in addition to the authority conferred by this act, to compel a settlement of the accounts of the assig nees, and to do any other act necessary and proper to accomplish the purposes of the trust, and to compel the distribution of the moneys and assets in the hands or power of the said assignees, amongst the creditors entitled according to the just proportion due to each, as hereinafter provided. SECTION 23. The said assignees shall pay out of the assets and property of the said bank, in case of an assignment, the debts and liabilities in the following order: First, note holders. Second, depositors. Third, all other creditors, except stockholders who shall be last paid. SECTION 24. If the insolvency of the said bank be wilfully fraudulent, the directors of the said bank, by whose acts or omissions the insolvency was in whole or in part occasioned, and whether then in office or not, shall each be liable to the stockholders of the said bank, for his proportional share of their respective losses, the proportion to be ascertained by dividing the whole loss amongst the whole number of directors liable for its re-imbursement. SECTION 25. Every insolvency of said bank shall be deemed fraudulent, unless its affairs shall appear on investigation to have been fairly and legally administered, and generally with the same care and diligence that agents receiving a compensation for their services are bound by law to observe. SECTION 26. The term insolvency used in this act, shall be construed to apply to the said bank when it is compelled to make an assignment; and it shall be thereupon the duty of the directors of the said bank, for the time being, within ten days after such assignment, to file in the office of the prothonotary of the court of common pleas of Greene county, verified by oath or affirmation, a full statement of its affairs, containing : I. An account of the capital stock of the bank, the amount paid in, and the amount thereof held by such corporation. II. The quantity, description and value of the real estate of the said bank. III. The shares of stock held by the bank, whether absolutely or as collateral security, with their number and value. IV. The debis owing to said bank, and the amount of said debts that are collectable. V. The amount of debts owing by said bank, with the amount of notes or bills in circulation, amount of deposits, and all other liabilities, together with an account of its loans and discounts, and of specie on hand. VI. A particular account of the losses of the corporation, and the cause of its insolvency. VII. An accurate list of the names and residences, and the amount of stock held by each stockholder in said bank, at the time of the said assignment. the court. SECTION 27. If the court shall be in session when the statement is filed, the same shall be immediately presented to the court by the said Statement, when directors for examination, and if the court shall not be in session at such to be presented to time, then the said statement shall be presented upon the first day of the session of the court thereafter; and it shall thereupon be the duty of the court to appoint three competent auditors, who shall be sworn or affirmed, to make a strict investigation of the affairs of such bank, and of the accuracy and fairness of the statement thus presented to the court, and to perform their duties with fidelity. Duty of auditors. SECTION 28. The auditors thus appointed shall have power to compel the production of the books and papers, and to subpoena and examine the directors and officers of said bank, and generally to have and exercise all the authority now conferred on auditors by existing laws; and after having performed their duties, they shall report to the Make report. court the result of their investigation, and in case they report that the insolvency was wilfully fraudulent, it shall be their duty also to ascertain and report the amount due from the several directors, according to the liabilities imposed by this act. SECTION 29. The said court shall thereupon proceed to the investiga. Court to investition of the matters contained in said report, and shall determine whether gate all the matthe insolvency of said bank was wilfully fraudulent or otherwise, or if ters contained in they deem it necessary for the purpose of justice, they may direct an report, &c. issue, at the request of any person interested, to try the fact of wilful fraudulent insolvency; and if the judgment of the court upon the report of the auditors, or upon the verdict rendered upon such issue, shall be that the insolvency of such bank was fraudulent, then and in such case the said court shall proceed to decree against the directors the amount due from each, according to their several liabilities; and the said court of common pleas, for the purpose of carrying into effect the provisions of this act, shall have the same powers and authorities to obtain the appearance of persons then made amenable to their jurisdiction, and to compel obedience to their orders and decrees, and enforce execution thereof, as are by law vested in the said courts in cases of trust. SECTION 30. The provisions of this act shall go into effect upon the When this act to expiration of the present charter: Provided, That the stockholders go into effect. at a meeting to be called for that purpose, shall by a majority of votes Proviso. present decide in favor of the acceptance thereof, which acceptance shall be certified to by the officers of the bank, and transmitted to the governor in writing, and filed in the office of the secretary of the commonwealth. SECTION 31. That the amount loaned to any one director, at any one said bank to aptime, shall not exceed five thousand dollars, either as drawer or endorser, pear as drawer or nor shall the aggregate amount thus loaned to all the directors, amount to more than thirty thousand dollars at any one time. No director of endorser for a greater amount than $5,000. SECTION 32. The legislature reserves the power to alter, revoke, or annul the charter of the said bank, whenever in their opinion it may be Reservation. injurious to the citizens of the commonwealth, in such manner that no injustice be done to the corporators. Repeal. SECTION 33. So much of any act of assembly, as is hereby altered or supplied, is hereby repealed. WILLIAM F. PACKER, Speaker of the House of Representatives. GEORGE DARSIE, Speaker of the Senate. APPROVED-The fourth day of April, Anno Domini, one thousand eight hundred and forty-nine. WM. F. JOHNSTON. No. 330. AN ACT To authorize the school directors of Mount Pleasant township, Westmoreland county, to assess additional taxes for school purposes; to incorporate the Kensington steam navigation company; relative to school taxes in Allegheny county; to change the name of Frederick Kuntz; relative to the claim of Barnes and Johnston for damages; to authorize the reverend George Morton to sell certain real estate; to authorize the court of common pleas of Westmoreland county, to appoint auditors to examine the account of Thomas L. Drum; relative to tolls on canals and railroads in this conmonwealth; to authorize the treasurer of Carbon county, to pay over certain taxes. SECTION 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 Mount Pleasant the school directors of Mount Pleasant township, Westmoreland county, township, West- be and are hereby authorized and empowered to assess and collect a moreland county, tax, in addition to that which they are by law now authorized to assess and collect, upon each and every taxable inhabitant, of not less than twenty-five cents, nor more than seventy-five, to be collected as other taxes for like purposes are collected. school directors of, authorized to assess additional tax. Corporators. Style. SECTION 2. That Theodore Birely, George W. Watson, J. Philip Lee, C. W. Bender, William Goodrich and Charles L. Bouler, junior, and such other persons as may hereafter associate with them, their successors and assigns, be and they are hereby created and made a body politic and corporate, by the name, style and title of "The Kensington steamboat and navigation company," clothed with all the powers and Subject to all the privileges, and subject to all the liabilities and restrictions contained in provisions and re- an act, entitled "An Act to incorporate the Philadelphia and Atlantic strictions of cer- steam navigation company," passed April eleventh, Anno Domini, one tain act. thousand eight hundred and forty-eight. Versailles town SECTION 3. That the school directors of the township of Versailles, ship, Allegheny in the county of Allegheny, be and they are hereby authorized to levy county, school di- and cause to be collected in said township, annually hereafter, of and rectors of, author- from each taxable inhabitant thereof, the sum of one dollar for school purposes, in addition to the amount heretofore levied and collected in ized to collect said township: this section shall not take effect until after the first day tax. of June next. SECTION 4. That Frederick Kuntz, of the county of Philadelphia, Frederick Kuntz, be and he is hereby authorized to change his name, and shall henceforth name changed. be known and called by the name of Koons, and by that name shall be able and capable in law to sue and be sued, grant, receive, take and inherit any estate real and personal, and to do all other legal acts, as effectually, to all intents and purposes, as he could have done by his former name if no change had been made therein. SECTION 5. That the canal commissioners be and they are hereby Wm. Barnes and authorized and required to examine the claims of William Barnes and Wm. Johnston, William Johnston, of Westmoreland county, for damages done by the claims of, to be canal and locks, and to assess the amount of damages according to examined by canal commisequity and justice, and make report thereof to the legislature. sioners. SECTION 6. That the reverend George Morton, the natural guardian Rev. George of Angelica Jane Morton, be and he is hereby authorized and em- Morton, guardian powered to convey by deed, in fee, to John C. Rochester, a certain of Angelica Jane messuage and tenement and a lot of ground with a dwelling house, Morton, authorsituate in the borough of New Alexandria, in the county of Westmore. ized to convey land, it being the same lot of ground taken by William Taylor, as certain lot of guardian of Jane Morton, deceased, heretofore Jane Larimer, upon proceedings in partition in said county; and the first section of an act, entitled An Act relative to real estate," passed at the present session, be and the same is hereby repealed. ground. SECTION 7. That the court of common pleas of Westmoreland county Thos. L. Drum, are authorized and required to appoint three persons of said county as late treasurer of auditors, who shall have authority to re examine and re-settle the Westmoreland accounts of Thomas L. Drum, late treasurer of said county, with said county, accounts county and with the commonwealth, and that all proceedings that have of, to be re-setbeen instituted against the said Thomas L. Drum or his sureties, shall tled, &c. be stayed until such re-settlement has been made: Provided, That the same be done within six months after said auditors have been appointed. SECTION 8. That for the purpose of more effectually protecting the Imposition of interests of this commonwealth, and preventing the imposition of fraud fraud on the upon its canals and railroads, it is hereby declared that the canal com- canals and railmissioners shall have full power and authority to impose treble the roads, for prevenusual amount of tolls, in all cases where any false bill of lading is fur- tion of. nished to any collector upon any of the public works of this common wealth. Treasurer of SECTION 9. That the treasurer of Carbon county, be and he is hereby Carbon county, authorized to pay unto the proper officers of the township of Kidder, all authorized to pay the school and road taxes that may have been assessed on the unseated certain taxes to lands lying within the limits of the said township of Kidder, in the year the township of one thousand eight hundred and forty-eight. SECTION 10. That hereafter the qualified voters of Canal township, Washington county, shall hold their township and general elections at the house of Henry Rose, in said township. WILLIAM F. PACKER, Speaker of the House of Representatives. Kidder. Canal township, county, place of APPROVED-The seventh day of April, one thousand eight hundred and forty-nine. WM. F. JOHNSTON. |