Thos. Earp, Jr., and their associates and successors, be, and they are hereby incorporated into a body corporate and politic by the name, style, and title of "the American Steamship Company," and by the Faid name, style, and title, the company shall have perpetual succession, and be able and capable in law to sue and be sued, plead and be impleaded, and to receive, possess, employ, and dispose of ships and vessels, with their appurtenances, and the steam engines and other machinery necessary and proper for the propulsion and navigation thereof by the use of steam, and to hold and use all necessary easements for loading and unloading, receiving and delivering merchandize transported, or to be transported, in said ships and vessels so to be customarily navigated by them; and further, to have all such other rights and powers as are or may be properly incident to a corporation having for its object the transportation of goods, wares, merchandize, and the conveyance of passengers and mails by means of steam' navigation, to and from the city of Philadelphia: Provided, That nothing herein contained shall be construed to confer on the said corporation any banking or mining privileges, or the right to hold real estate, excepting such as may be deemed necessary to accommodate the company's vessels, or such as may be conveyed to said corporation as security for, or in payment of debt.

Style.

Privileges.

Proviso.

Organization.

SECTION 2. That the first five persons named in the first section of this bill shall be the directors of the corporation until their successors are chosen by the stockholders; an election for seven directors shall Election of offibe held on the second Tuesday in January, one thousand eight hun- cers. dred and fifty-three, and annually thereafter, of which elections two weeks' previous notice shall be given in two or more of the daily newspapers of Philadelphia, but no failure to elect directors at the time named shall work as nonuser, but those in office shall continue therein

until others are duly chosen; special meetings of the stockholders may Special meetbe called by the directors, whenever they deem it necessary; special ings. meetings shall also be called by the directors, when requested, in writing, by fifteen or more stockholders representing in amount not less than twenty thousand dollars, in manner as before provided for elections of directors.

SECTION 3. That the directors herein named, and their successors, Powers and shall have power and authority to fill vacancies in their body occasioned duties of direc by death, resignation, or otherwise; to make, ordain, and establish tors. such by-laws, rules, and regulations for the well-management of the corporation as they shall deem expedient and proper; they shall regulate the vote by proxy, the payment of instalments on the capital stock, choose suitable officers and agents, and assign their duties and responsibilities, fix salaries and compensation, require securities for the faithful performance of duties when deemed expedient, and generally to do, all and singular, such matters as they may believe conducive to the interests of the corporation: Provided however, That nothing in the by-laws, rules, and regulations of the directors shall be inconsistent with the laws of the United States or of this Commonwealth: And provided also, That no salary whatever shall be paid to the presi- Proviso. dent of this company who may from time to time be chosen; a majority of the directors shall constitute a quorum.

SECTION 4. That the capital stock of said corporation shall be five hundred thousand dollars, to be divided into one thousand shares of five hundred dollars each; this capital may be increased to an amount not exceeding one million of dollars by a vote of two-thirds of the stockholders, in person or by proxy, at any meeting of the stockholders called for the purpose, of which meeting two weeks' previous notice

Capital stock.

Dividends.

Annual state

shall have been given; the shares of stock shall be disposed of, from time to time, as the board of directors may determine; Provided, That nothing contained herein shall be construed to authorize said company to carry or transport freight or passengers to and from Philadelphia and any point or place on the Delaware river or bay northward of the Breakwater.

SECTION 5. That dividends of the profits of the said American steamship company, as shall appear advisable to the managers, shall be declared and paid to the stockholders at least once in each year, but they shall in no case exceed the amount of the nett profits actually made and acquired, after deducting all losses and expenses; and if the directors shall declare and pay any dividend by which the capital stock of the said company shall be impaired, they shall be jointly and severally liable for so much of the said capital stock as may be thus impaired and divided, which shall be recoverable by any party aggrieved or injured, in an action recoverable for debt as in other cases.

SECTION 6. That it shall be the duty of the president and treasurer ment of affairs of the said corporation, on the first day of January in each year, to to be transmit- make out and transmit, on or before the fifteenth day of said month, to ted to the Audi- the Auditor General, duly verified by their oaths or affirmations, a full

tor General.

Tax.

Agents.

Reservation.

account and balance sheet of the affairs of the corporation, particularly setting forth the amount of capital stock actually paid in, the cash value, as near as can be ascertained, of all the property and assets belonging to the corporation, the aggregate amount of its debts and liabilities, and the amount of dividends declared by the corporation during the year preceding.

SECTION 7. That on or before the fifteenth day of January, in every year, it shall be the duty of the treasurer of the said corporation to transmit to the Treasurer of the Commonwealth, out of the funds of the corporation, a sum equal to one-half mill on each one per cent. of the dividends and profits declared and paid by the said corporation during the year next preceding; and if such treasurer sball neglect or refuse to pay the tax hereby imposed, in such case the directors and treasurer, for the time being, shall be jointly and severally liable as individuals for the payment thereof, and the same may be sued for and recovered, under the direction of the State Treasurer, as debts of like amount are recoverable, against the estate and effects as well of the said corporation as of the officers thereof.

SECTION 8. That the managers shall appoint an agent or agents to attend to the business of the company and vessels, to whom shall be paid, for such service, the usual and customary commissions, to be ascertained and fixed by the said managers; the president or any director may be appointed an agent by the managers.

SECTION 9. That the Legislature reserves the right to alter, repeal, or amend any part of this charter, if it be necessary for the interest of the Commonwealth; Provided however, That in so doing no injustice shall be done to the stockholders.

APPROVED-The seventeenth day of February, one thousand eight

hundred and fifty-two.

WM. BIGLER.

No. 53.

AN ACT

Relating to the assessment of damages on the railroad to avoid the inclined plane, in Philadelphia county.

Davis, and

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 William Williamson, of Chester county, John Davis, of Bucks county, William Wiland George Darsie of Allegheny county, be, and they are hereby ap- liamson, John pointed a Board of Appraisers, to whom all appeals shall be made by George Darsie persons who may be dissatisfied with the damages offered by the Board appointed apof Canal Commissioners on the line of the railroad to avoid the inclined praisers of damplane in Philadelphia county, and it shall be the duty of the said ap- ages. praisers justly and equitably to assess the damages sustained by such persons in the manner directed by the laws of this Commonwealth, and whose determination thereon shall be final, and they shall make a record of their proceedings, a copy of which shall be delivered to the Board of Canal Commissioners, to be by them carried into effect according to law: Provided, That it shall be the duty of said Board of Appraisers to dis- Proviso. allow any claim arising for damages, or in any other manner whatsoever, out of or connected with the construction or location of the West Philadelphia railroad..

Duties of ap

praisers.

SECTION 2. That the said Board of Appraisers shall give at least Appraisers to ten days' notice to the owners of property and to the Canal Commis- give notice to owners of propsioners of the times and places at which they will proceed to the dis- erty and Canal charge of their duties under this act, having first taken an oath or Commissioners affirmation to execute the same with fidelity, and shall receive, as a full of the time of compensation for their services and personal expenses, the sum of three meeting. dollars each for every day devoted to the duties of their office, and the Compensation. usual mileage allowed by law to members of the Legislature..

APPROVED-The seventeenth day of February, A. D., one thousand

eight hundred and fifty-two.

WM. BIGLER.

Dividends.

Annual state

shall have been given; the shares of stock shall be disposed of, from time to time, as the board of directors may determine; Provided, That nothing contained herein shall be construed to authorize said company to carry or transport freight or passengers to and from Philadelphia and any point or place on the Delaware river or bay northward

of the Break water.

SECTION 5. That dividends of the profits of the said American steamship company, as shall appear advisable to the managers, shall be declared and paid to the stockholders at least once in each year, but they shall in no case exceed the amount of the nett profits actually made and acquired, after deducting all losses and expenses; and if the directors shall declare and pay any dividend by which the capital stock of the said company shall be impaired, they shall be jointly and severally liable for so much of the said capital stock as may be thus impaired and divided, which shall be recoverable by any party aggrieved or injured, in an action recoverable for debt as in other cases.

SECTION 6. That it shall be the duty of the president and treasurer ment of affairs of the said corporation, on the first day of January in each year, to to be transmit- make out and transmit, on or before the fifteenth day of said month, to ted to the Audi- the Auditor General, duly verified by their oaths or affirmations, a full tor General. account and balance sheet of the affairs of the corporation, particularly setting forth the amount of capital stock actually paid in, the cash value, as near as can be ascertained, of all the property and assets belonging to the corporation, the aggregate amount of its debts and liabilities, and the amount of dividends declared by the corporation during the year preceding.

Tax.

Agents.

Reservation.

SECTION 7. That on or before the fifteenth day of January, in every year, it shall be the duty of the treasurer of the said corporation to transmit to the Treasurer of the Commonwealth, out of the funds of the corporation, a sum equal to one-half mill on each one per cent. of the dividends and profits declared and paid by the said corporation during the year next preceding; and if such treasurer sball neglect or refuse to pay the tax hereby imposed, in such case the directors and treasurer, for the time being, shall be jointly and severally liable as individuals for the payment thereof, and the same may be sued for and recovered, under the direction of the State Treasurer, as debts of like amount are recoverable, against the estate and effects as well of the said corporation as of the officers thereof.

SECTION 8. That the managers shall appoint an agent or agents to attend to the business of the company and vessels, to whom shall be paid, for such service, the usual and customary commissions, to be ascertained and fixed by the said managers; the president or any director may be appointed an agent by the managers.

SECTION 9. That the Legislature reserves the right to alter, repeal, or amend any part of this charter, if it be necessary for the interest of the Commonwealth; Provided however, That in so doing no injustice shall be done to the stockholders.

JOHN S. RHEY,

Speaker of the House of Representatives.

JOHN H. WALKER,

Speaker of the Senate.

APPROVED-The seventeenth day of February, one thousand eight

hundred and fifty-two.

WM. BIGLER.

No. 53.

AN ACT

Relating to the assessment of damages on the railroad to avoid the inclined plane, in Philadelphia county.

Davis, and

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 William Williamson, of Chester county, John Davis, of Bucks county, William Wiland George Darsie of Allegheny county, be, and they are hereby ap- liamson, John pointed a Board of Appraisers, to whom all appeals shall be made by George Darsie persons who may be dissatisfied with the damages offered by the Board appointed apof Canal Commissioners on the line of the railroad to avoid the inclined praisers of damplane in Philadelphia county, and it shall be the duty of the said ap- ages. praisers justly and equitably to assess the damages sustained by such persons in the manner directed by the laws of this Commonwealth, and praisers. whose determination thereon shall be final, and they shall make a record of their proceedings, a copy of which shall be delivered to the Board of Canal Commissioners, to be by them carried into effect according to law: Provided, That it shall be the duty of said Board of Appraisers to dis- Proviso. allow any claim arising for damages, or in any other manner whatsoever, out of or connected with the construction or location of the West Philadelphia railroad.

Duties of ap

give notice to

SECTION 2. That the said Board of Appraisers shall give at least Appraisers to ten days' notice to the owners of property and to the Canal Commis- owners of propsioners of the times and places at which they will proceed to the dis- erty and Canal charge of their duties under this act, having first taken an oath or Commissioners affirmation to execute the same with fidelity, and shall receive, as a full of the time of compensation for their services and personal expenses, the sum of three meeting. dollars each for every day devoted to the duties of their office, and the Compensation. usual mileage allowed by law to members of the Legislature..

APPROVED-The seventeenth day of February, A. D., one thousand

eight hundred and fifty-two.

WM. BIGLER.