CHAPTER CCXI.

AN ACT to incorporate a Society under the name and title of "The Agricultural Society of Kent County, Delaware.”

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware, in General Assembly met, That, Thomas B. Coursey, Thomas B. Bradford, James G. Incorporation. Waples, Doct. Henry Ridgely, Manlove Hayes, George P. Fisher, Daniel Cummins, George W. Cummins, William Lewis, and all others whose names are found entered upon the books of the association known as the "Kent County Agricultural Society," as members thereof, together with their successors, be and they are hereby declared to be one body corporate and politic, in deed and in law, under the name, style and title of the Agricultural Name. Society, of Kent County, Delaware," and by that name shall have perpetual succession and a common seal, may sue and be sued, plead and be impleaded, answer and be answered in any court of ers. law or equity in this State, and shall have and possess full power to make all ordinances, by-laws and regulations not being contrary to the Constitution and laws of this State, or of the United States, which they or a majority of them may from time to time deem proper for perpetuating, well-ordering and governing the affairs of the said society, and for carrying into full and complete effect the designs of the said institution.

Corporate pow

Power to pur

of

what amount.

SEC. 2. And be it enacted, That the "Agricultural Society of Kent County, Delaware," shall by that name be able and capable chase and hold in law, to have, take, purchase, possess, enjoy and retain to them property; and their successors, lands, tenements, and hereditaments, goods, chattels and effects, of what kind nature or quality soever, (provided the clear income arising from the same shall not exceed one thousand dollars, and the same to sell, grant, demise, alien or dispose of as to the said society may seem most beneficial to the well-being of the same, and generally shall have power to act and transact all matters and things, which bodies politic and corporate may lawfully do.

SEC. 3. And be it enacted, That the said society to promote objectof society. and encourage agriculture and improve husbandry, (the object of

its institution,) shall have right and power to ordain and grant May grant prepremiums and medals, or other gratuities as rewards of merit, miums, &e. exertions, discovery or improvement on the objects aforesaid, as

they shall from time to time judge proper.

Charter how con

SEC. 4. And be it enacted, That every matter herein contained shall be construed and taken most favorably for the said corpora- strued.

Proviso.

tion: Provided always nevertheless, That the said society under and by the aforesaid name of incorporation, or under any other name or style whatsoever shall not have power to emit or issue bills of credit.

SEC. 5. And be it enacted, That this act of incorporation shall Act of incorpor- continue in full force and effect for twenty years from the passage thereof, unless sooner revoked by the Legislature of this

ation to last twenty years.

State.

Passed at Dover, February 13, 1855.

4 vol. p. 528 chap, exevii.

its present right

CHAPTER CCXII.

A FURTHER SUPPLEMENT to the act entitled "An Act to incorporate the Bank of Wilmington and Brandywine in the borough of Wilmington.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware, in General Assembly met. (two-thirds of each branch of the Legislature concurring therein, and the power of revoking this art by the Legislature being hereby expressly reserved,) That the charter of the Bank of Wilmington and Brandywine, with all its present powers, rights, pivileges Charter with all and immunities, (except so far as may be altered by this act,) is and privileges hereby extended and continued for the term of twenty years from by the net) the passing of this act, and that the capital stock of the said Bank may be increased to a sum not exceeding two hundred and forty Capital stock in- thousend dollars, divided into shares of thirty dollars each, so as and how divided to make the whole capital amount to two hundred and forty thousand dollars and no more. The said corporation shall not take Rate of interest more than at the rate of one per centum for every sixty days upon its loans and discounts.

(except as alter

ed act) extended for twenty years

creased to what;

Tax to be paid

how payable and

SEC. 2. And be it further enacted, That the said Bank of Wilthe State; mington and Brandywine shall semi-annually pay into the Treawhat per cent. Sury of this State for the use of the State, a tax of one-half of one per centum per annum on the said capital of two hundred and forty thousand dollars or such proportion thereof as shall be actually paid in during the continuance of this act; and shall Start also be subject to the operation of the sixth section of chapter seventy-one of the revised statutes entitled" of Banks."

Subject to 6,

the R. Code.

of

cer

tain inconveni

which the corpe

certain instal

paid on new cer

issued by virtue

Whereas, by virtue of the provisions of an act of the General As- Recital of sembly of the State of Delaware, passed at Dover, January 26th, nees ander A. D., 1829, the actual value of each of the shares of the capital ration is laborstock of the said bank was ascertained and declared to be seven ing, by renson of dollars, and new certificates of stock were authorized to be issued ments not being acknowledging the payment of seven dollars subject to the pay-tificates of stock ment of four instalments, one of eight dollars, and three of five of an act of 1829, dollars each, making in the whole the sum of twenty-three dol- vol. p. 203. lars; And Whereas, certain shares of stock for which new certificates were so ordered to be issued, amouuting in the whole to one hundred and twenty-nine shares, still stand on the books of the said corporation in the name of the owners and holders of said stock, on which nothing has been paid since the passage of the said act, by which the said corporation is subject to great detriment and inconvenience, now for remedy thereof.

Commissioners

their duties

made.

the assessment ment shall not be less than seven dollars per

SEC. 3. Be it further enacted, That William Lee, Charles Warner and Henry G. Banning, be and they are hereby appoint-pointed; ed commissioners, who shall on or before the first day of July, Notice; how A. D., 1855, upon oath or affirmation, and upon one month's no- given. tice, to be given by the said corporation to the persons owning and holding such stock, either personally or by publication in one newspaper printed in the City of Wilmington, proceed to fix an assessment or valuation per share on the said stock so held and valuation. owned, and shall make out two certificates of such valuation or certificates and assessment under their hands and seals or the hands and seals of returns; where a majority of them, and return one of those certificates into the Bank of Wilmington and Brandywine, and the other into the recorder's office of New Castle County, and the valuation and assessment so fixed shall be deemed and considered to be the amount paid on each share of the stock so held or owned: Provided, how- Proviso; that erer, That no such assessment or valuation shall be less than seven dollars per share, upon the return of the valuation or assessment as hereinbefore provided, the amount so assessed by the share. said commissioners shall be deemed and taken to have been paid sessed deemed to on each share, and the person or persons owning or holding such stock subject to stock shall be credited therewith, and shall hold the said stock the payment of subject to the payment on each share of the balance due thereon, thereon. the said balance being the difference between the sum so assessed and the current market value of a full paid share, in such instalments and at such times between the time of returning the said certificates of valuation or assessment, and the time when the said corporation would without this act have expired, as the directors may think proper, and if at such last mentioned time the whole amount which the directors shall have called for be not paid by Default in payany owner or holder of the said stock, then as to such shares in ment of the which default may have been made, the said owner or holder may which the di be taken to have relinquished the same, and it shall be lawful for rectors shall the said corporation to resume the same upon payment to such effect of,

Amount so A4

have been paid.

the balance due

whole amount

heve called—

made.

owner or holder the sum so assessed, and any additional sum which Payment; how may have been paid in pursuance of any call to that effect, such payment may be made by placing such amount to the credit of such owner or holder on the books of the said bank payable on demand and notice thereof in like manner as hereinbefore prescribed as to the notice of assessment.

rectors, &c., to

Governor the ac

SEC. 4. And be it further enacted, That the president and diPresident, Di-rectors of the said Bank shaй within six months from the passcertify to the ing of this act certify to the Governor of this State, under the ceptance of this seal of the corporation, that this supplement has been submitted act by the Stock-to a meeting of the stockholders of the said Bank regularly conholders. vened for the purpose, and that a majority in value of the said stockholders have approved and accepted of the same.

Passed at Dover, February 13, 1855.

Commissioners

CHAPTER CCXIII.

AN ACT to incorporate a Bank in the City of Wilmington, under the name of "The Mechanics Bank."

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (two-thirds of each branch thereof concurring,) That Thomas to open books. Walker, George W. Churchman, Robert S. Harris, Robert McCabe, M. D., Jesse Sharp, William Thatcher, Jesse Lane, Abraham Alderdice, William H. Griffin, Clarkson Ogden, Joshua P. Edge, George McCorkle, Samuel Barr, Joshua T. Seal, Joshua Simmons, Samuel McCaulley, William Lea, George D. Armstrong, Edward Betts, Edward McClees, John Kirkman, Wm. Tatnal, Jacob Jefferis, Edward Moore, Thomas D. Webb and William Ferris, be and they are hereby appointed commissioners to do and perform the things hereinafter mentioned, that is to say they or any five of them, shall on or before the first day of June next, procure a sufficient number of suitable books, one of which shall be opened in the City of Wilmington, and the others, if it shall be deemed advisable by the said commissioners, at such other place or places within the limits of this State, as they shall think proper, in each of which books they shall enter as follows:

Where and when.

yen.

Manner of sub

"We whose names are hereunto subscribed, do promise to pay to 'The Mechanics' Bank' the sum of twenty-five dollars for each and every share of stock set opposite to our respective names, in such manner, sums, and at such times as shall be directed by the President and Directors of the said Bank," and shall thereupon give Notice to be gi notice in two or more of the newspapers printed in the said city of Wilmington, and in such other newspapers as they may deem proper, at least twenty days of the time and place or places when and where the said books shall be opened to receive subscriptions for the capital stock of the said Bank, at which time and place or places two or more of the said Commissioners shall attend and permit all persons resident in the State, of lawful age, who shall offer to subscribe, in manner following, that is to say: on the first day in which the said books are opened no person shall subscribe scribing. for more than twenty shares, either in his own name or as attorney for another; and on the second day on which the said books shall be opened, the same restrictions shall apply; and if at the expiration of the second day the whole number of eight thousand shares shall not have been subscribed, then on the third or any following day, on which the said books shall be opened, it shall be lawful for any person or persons, resident in the State, in his own name, or as attorney for another, to subscribe for any number of shares in the said stock, until the whole number of eight thousand shares shall be subscribed. The Commissioners shall keep the books open at least three days, and at least six Books to be kept hours in each day, unless the whole number of eight thousand pen, how long. shares shall have been before that time subscribed, upon ascertaining which they may close the books, and if it should so happen that more than eight thousand shares shall be subscribed, then the Commissioners, or a majority of them, are hereby authorized and directed to deduct from the highest subscription or subscriptions, until the shares shall have been reduced to the proper number.

SEC. 2. And be it further enacted, That the capital stock of Capital stock. the said company shall not exceed the sum of two hundred thou

sand dollars, divided into eight thousand shares of twenty-five dollars each.

SEC. 3. And be it further enacted, That each subscriber to the subscription mostock of said company shall pay to the Commissioners aforesaid, hey, how paid. at the time of subscribing for the same, the sum of five dollars on each share subscribed; and it shall be lawful for the directors of the said company, appointed in the manner hereinafter directed, to call in and demand of the stockholders respectively, all such sums of money as are by them subscribed, by instalments not exceeding ten dollars per share, upon giving thirty days previous notice to the stockholders in two or more newspapers printed in the city of Wilmington, and in such other newspapers as the said