properly incident to the business of the office, not inconsistent with the constitution and laws of this State, and shall receive an annual salary which shall be fixed by the board of supervisors of said county, and paid at the end of each month by said county. $2. This act shall take effect immediately. AN ACT to incorporate the Stuyvesant Safe Passed March 23, 1867. The People of the State of New York, represented in Senate and Assembly, do enact as follows: tors. SECTION 1. Frederick A. Lane, Isaac T. Smith, C. CorporaGodfrey Gunther, Elisha Brooks, Adolphus F. Ockershausen, William Laimbeer, Christian Schwartz, John H. Sherwood, Peter B. Rathbone, Daniel F. Tyler, John Sedgwick, Francis B. O'Connor, Charles A. Coe, Augustus W. Payne and Robert Buck, their associates and successors, shall be and are hereby constituted a body politic and corporate, by the name Corporate and style of the "Stuyvesant Safe Deposit Company, of the City of New York," and by that name shall possess the general powers and privileges, and be subject to the liabilities and restrictions, contained in title third of chapter eighteen of the first part of the Revised Statutes. name. §2. The business and general objects of the said Objects of corporation shall be, to take and receive on deposit, orporation. as bailee, for safe keeping and storage, jewelry, plate, money, specie, bullion, stocks, bonds, securities and valuable papers of any kind, furniture and other goods, personal property and other valuables, upon such terms and for such compensation as may be agreed on by the said corporation and the bailors respectively, of any such property as aforesaid, and to let out vaults and safes and other receptacles, for the uses and purposes of the said corporation, provided, however, that this company is hereby prohibited Capital stock. Notice of subscription. from making any loan or advance in money upon any property left with them on storage, or for safe keeping. S3. The capital stock of said company shall be not less than two hundred thousand dollars, divided into two thousand shares of one hundred dollars each, and the persons above named as corporators, or a majority of them, shall be commissioners, whose duty it shall be, within a reasonable time after the passage of this act, on such day and in such place in the city of New York as they shall appoint, giving at least ten days' notice thereof in two or more daily papers published in said city, to open books for the purpose of receiving subscriptions, and keep the same open until the whole of said stock shall be taken up. The capital of said company may be increased at any time, or from time to time, to a sum not exceeding one million dollars, by a vote of at least two-thirds of all the shares of stock, at a meeting of the stockholders of said company called for that purpose, in such manner as the by-laws shall provide. Trustees. $ 4. The stock, property and concerns of said company shall be managed by not less than thirteen and not more than twenty-five trustees, who shall be stockholders in said company, a majority of whom shall constitute a quorum for the transaction of business. The persons named in the first section of this act shall be the trustees of said company for the first year, or until their successors shall be elected. The trustees shall, except the first year, be annually elected by the stockholders of said company, at such time and place and upon such notice as shall be prescribed by the by-laws of said company. The election shall be by ballot of such of the stockholders as shall attend for that purpose, either in person or by proxy. Each stockholder shall be entitled to as many votes as he owns shares of stock in said company, and the provisions of article second, title two, chapter eighteen of the first part of the Revised Statutes, shall apply to all elections of trustees of said company. Election. Powers of trustees. $5. The trustees shall have power to make all necessary rules, regulations and by-laws for conduct. ing and managing the business, stock and property of said company, for conducting and certifying elections and conducting their own proceedings, not inconsistent with this act, or the laws of this State, to elect a president of said company from their own number, and prescribe his term of office, and to employ and appoint subordinate officers and agents and prescribe their duties, and such officers and agents shall be required to give security for the faithful performance of their duties; to fill all vacancies in their own number and among the officers of said company; to prescribe rules for the payment of subscriptions to, and transfer of, stock, and to provide for the payment of dividends, which shall be made only out of the net earnings of said company, after deducting all expenses and liabilities. ness may $6. The said company may commence business When bustwhen one-half of its capital stock shall have been begin. subscribed, and fifty thousand dollars shall have been paid in, in cash. The balance of said capital, stock shall be paid in, in full, within one year after said company shall have commenced business. $7. The said company may lease, purchase and hold such real estate as may be necessary for the transaction of its business, and may mortgage the same to secure any part of the purchase-money thereof; also such as may be mortgaged to it as security for any indebtedness, or conveyed to it in payment or on account of any debt due said com-. pany, and such as it may purchase or acquire at any sale under any mortgage, execution or the decree of any court in any action wherein said company shall be a party. liability. 58. The stockholders of said company shall be Personal severally liable for all debts and liabilities of said company incurred while they are such stockholders, respectively, to an amount equal to the amount of stock held by them, respectively, in addition to the amount of said stock, after an execution for such indebtedness shall have been returned unsatisfied, in whole or in part. $9. This act shall take effect immediately. Corporate name. Real estate, company may hold. Trustees to have no pay... Trustees Chap. 112. AN ACT to incorporate the German Tailor Passed March 23, 1867. The People of the State of New York, represented in Senate and Assembly, do enact as follows: SECTION 1. Bartholome Lehman, John Appel, George Hoffman, Anton Greiner, Charles Hilliger, Adam Lebonner, George Schnkhart, Valentine Ebel, Henry Kessler, George Griefenstein, Franz Franzel, Henry Gotz, Franz Dillert, Henry Wissel, Henry Stumpff, Henry Lauterback, Henry Frohnhofer, Christian Bichsel, George Jacob, Frederick Mundschenk, and August Schleifer and their successors are constituted and created a body corporate and politic, by the name of "The German Tailor Benevolent Society of Brooklyn, E. D.," and by that name shall have perpetual succession, and may sue and be sued in any court whatsoever; such body corporate to be located in the sixteenth ward, in the eastern district of the city of Brooklyn. S2. The real estate which it shall be lawful for. the said corporation to purchase, hold and convey, shall be such as may be requisite for its immediate accommodation for the convenient transaction of its business, not to exceed the value of fifty thousand dollars. S3. The trustees of said corporation shall not, directly or indirectly, receive any payment or remolument for their services. $4. The business of said corporation shall be and officers. managed and directed by the said board of trustees, who shall be elected annually by said society, and shall elect from their number a president and two vice-presidents, and such other officers as they may see fit. Thirteen of the said trustees, of whom the president or one of the vice-presidents shall be one, shall form a quorum for the transaction of business at any special meeting of the said board of trustees ; and thirteen of said board of trustees shall form a quorum for the transaction of business at any regular or adjourned meeting of said board of trustees. Regular meetings, $5. The persons named in the first section of this vacancier. act shall be the trustees of the said corporation for the first year, and all vacancies by death, resig nation or otherwise in the office of trustee, shall be filled by the board by ballot, for the balance of the year in which such vacancy may occur, without unnecessary delay; and at least twelve votes shall be necessary for the election of any trustee; the said trustees shall hold a regular meeting at least once in each month to receive the reports of their officers as to the business and affairs of the corporation, and to transact such business as may be necessary; and any trustee omitting to attend the regular meetings of the board for six months in succession, may thereupon be considered as having vacated his place, and a successor may be elected to fill his place. The supreme court may at any time, for due cause, remove any trustee, on proper notice to such trustee, and affording him an oportunity to be heard in his defense. The president, or in his absence, one of the vice-presidents shall have the power to call a meeting of the trustees upon one day's notice. согрога $6. The general business and object of the corpo- objects of ration hereby created shall be benevolent, to support, tion. aid and assist its members and their families in case of want, sickness or death, but said corporation shall have no right to engage in any other business transaction, except to keep its funds properly invested, under the direction of the board or trustees. $ 7. The board of trustees of the said corporation By-laws. shall have power, from time to time, to make, constitute, ordain and establish such by-laws, rules and regulations as they shall judge proper for the election of their officers, for prescribing their respective functions, and the mode of discharging the same, for the regulations of the times of their meetings of the officers and trustees, and generally for transacting, managing and directing the affairs of the corporation; provided such by-laws, rules and regulations are not repugnant to this act, to the |