Officers.

Letters patent.

mon stock.

the purpose of considering the provisions of this act; and in case of the acceptance of the same, shall proceed to elect, by ballot, seven of their number to serve as directors for the term of one year thereafter, and until their successors shall be duly elected, and annually thereafter, at such time and place as shall be appointed by the directors, to serve for one year, and until their successors shall be duly elected, and each share of stock shall entitle the holder thereof to one vote. The directors so chosen shall elect one of their number as president of the corporation, and all other officers and agents of the corporation shall be elected and appointed as shall be prescribed by the by-laws. Upon notice of the acceptance of the provisions of this act, and of the due organization of the corporation to the governor of this commonwealth, there shall be granted, in the usual form prescribed by law, letters patent to the said corporators.

SECTION 4. That it shall be lawful for the said corporation to have and to hold all the lands now owned and in possession of the said corporators herein named, who shall accept this charter, in the counties of M'Kean and Elk, in this commonwealth, May make a com- and the same to value and convert into a common stock, which shall forthwith be divided into a convenient number of shares, so as to apportion the same among the aforesaid owners, according to their respective interests in the said lands, and for which shares certificates of stock shall be issued to each of them, signed by the president, with the corporate seal thereto affixed, and attested by the treasurer; such certificates shall be issued and made transferable, as the directors may prescribe by their by-laws, and the shares of stock so created shall, for all pur poses, be deemed and treated as personal estate.

Sale of lands.

Proviso.

Powers and privileges.

Capital stock.

SECTION 5. That it shall be the duty of the directors to grant, bargain and sell the said lands, in such quantities and at such prices as may be agreed upon betwixt them and any purchaser or purchasers thereof, and to receive any moneys, mortgages or other securities, including the certificates of stock of this corporation, in payment of the same, and to cause the president to sign and affix the corporate seal, attested by the treasurer, to any covenant, deed or other assurance necessary in law for grant ing title to the same, as often as all or any portion of said lands are sold or otherwise disposed of: Provided, That the said corporation shall sell and dispose of at least one-half of all their lands within ten years, and the remainder, except two thousand acres thereof, within twenty years from the date hereof.

SECTION 6. That it shall be lawful for the said corporation to demise and let, for a period or periods together not exceeding twenty years, to such person or persons as may apply for the same, and upon such terms as may be agreed upon, any of the said lands, and the right and privilege of mining, taking and carrying away the iron ore, coal and other minerals and mate. rials from the said lands, and to aid in the development of the minerals and other materials, the use and transportation of them to market, and to promote the clearing and settlement of the country; it shall be lawful for the said corporation to employ their capital in constructing such railways, not exceeding twenty miles in length, as may be necessary from such mines, to intersect the Sunbury and Erie railroad, or the Allegheny Valley railroad, subject nevertheless to the general law relating to the construction of railroads. The said company is hereby authorized to create a capital stock of one hundred thousand dollars,

for the purposes specified in this section, and shall pay to the commonwealth a tax of one-half of one per centum on said amount, in four equal annual instalments, the first instalment to be paid in one year from the date of the organization of the company.

Custody of funds,

SECTION 7. That all moneys, mortgages and other securities for the payment of money shall be paid and delivered to the &c. treasurer, who shall have the custody of the same, and keep an accurate account thereof, in such book or books as may be proided for the purpose, he giving such security for the faithful performance of his duties as may be required by the by-laws. Dividends of the proceeds of sales of lands and other moneys Dividends. hall be made among the shareholders, as often as it shall seem advisable to the directors, and at least once in every year, and when the proceeds of the sale of lands are paid to the holders of certificates of stock, such certificates of stock shall be surrendered to the said corporation and cancelled, and new certificates issued according to an uniform rule of equitable adjustment of the rights of the shareholders, to be established by the bylaws, so that whenever the whole of said lands shall have been sold, the certificates representing the same shall have been entirely exhausted and cancelled.

SECTION 8. That it shall be lawful for the said directors, or a Seal, by-laws, najority of them, and of whom a majority shall constitute a &c. quorum, to adopt a common seal, with appropriate device, for the use of said corporation, and the certificates of stock, and other official acts of the corporation, shall be authenticated by affixing the same, and to enact such by-laws and regulations as may be expedient for conducting and regulating the affairs of aid corporation: Provided, That the same shall not be inconistent with the constitution and laws of this commonwealth. SECTION 9. That the legislature reserves the right to amend Reservation. or repeal this act, if the same shall hereafter be considered incompatible with the general good of the commonwealth, but in such wise, nevertheless, as to do no injustice to stockholders, purchasers and lessees of the said lands.

RICHARDSON L. WRIGHT,
Speaker of the House of Representatives.

APPROVED-The sixth day of February, Anno Domini one

thousand eight hundred and fifty-six.

JAMES POLLOCK.

Vacancies, how filled.

Height of bridge.

Subject to.

Repeal.

No. 42.

A FURTHER SUPPLEMENT

To an act authorizing the Governor to incorporate the Mahoning, Kittanning and Freeport Turnpike Road Company, and for other purposes, approved the second day of April, one thousand eight hundred and thirty-eight.

SECTION 1. Be it enacted by the Senate and House of Representatives of the Commonwealth of Pennsylvania in General Assem bly met, and it is hereby enacted by the authority of the same, That vacancies occurring by the death, resignation or otherwise of any of the officers of the Kittanning bridge company, shall be supplied by appointments, made by the managers of the company remaining in office, until the succeeding election.

SECTION 2. That the bridge now being built by the said company shall, at its abutments, be at least as high above the surface of the water as the Kiskiminetas aqueduct, and at an intermediate point in the channel of the river, to be at least four feet higher.

SECTION 3. That the provisions contained in the sixty-ninth, seventieth, seventy-first, seventy-second, seventy-fourth and seventy-fifth sections of an act, entitled "An Act relating to roads, highways and bridges," approved the thirteenth day of June, one thousand eight hundred and thirty-six, shall be applicable to the bridge of the Kittanning bridge company, except that all fines and penalties which may be incurred under the provisions of this act, may be recoverable in the name of said company, and shall be for its sole use.

SECTION 4. That the fifty-first section of the act to which this is a supplement, and all acts of assembly inconsistent herewith, are hereby annulled and repealed.

RICHARDSON L. WRIGHT, Speaker of the House of Representatives.

APPROVED-The seventh day of February, Anno Domini one

thousand eight hundred and fifty-six.

JAMES POLLOCK.

No. 43.

AN ACT

For the relief of Margaret Buckhart, the widow of John Buckhart, a Soldier of the Indian wars.

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 the state treasurer be and he is hereby authorized and directed to pay Margaret Buckhart, of Butler county, the widow of John Buckhart, a soldier of the Indian war, or to her order, a gratuity of forty dollars, and an annuity of forty dollars, during the term of her natural life, commencing on the first day of January, Anno Domini one thousand eight hundred and fifty. six, and payable half yearly thereafter on the first day of January and July.

RICHARDSON L. WRIGHT, Speaker of the House of Representatives.

APPROVED-The seventh day of February, Anno Domini one thousand eight hundred and fifty-six.

JAMES POLLOCK.

No. 44.

AN ACT

For the relief of Margaret Ferguson, of Indiana county, widow of a Soldier of the Indian wars.

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 the state treasurer is hereby authorized and required to pay to Margaret Ferguson, widow of James Ferguson, late of Indiana county, a widow of a soldier of the Indian wars, or to her order, a gratuity of forty dollars, and an annuity of forty dollars, during life, payable half yearly, to commence on the first day of January last past.

RICHARDSON L. WRIGHT, Speaker of the House of Representatives.

APPROVED-The seventh day of February, Anno Domini one

thousand eight hundred and nfty-six.

JAMES POLLOCK.

No. 45.

AN ACT

For the relief of Catharine Leonard, widow of a Soldier of the Revolutionary war.

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 the state treasurer is authorized and required to pay Catharine Leonard, of Lancaster county, widow of George Leonard, a soldier of the Revolutionary war, or her order, a gratuity of forty dollars, and an annuity of forty dollars, during the term of her natural life, commencing on the first day of January, one thousand eight hundred and fifty-six, and half yearly thereafter, on the first day of January and July.

RICHARDSON L. WRIGHT, Speaker of the House of Representatives.

WM. M. PIATT,

Speaker of the Senate.

APPROVED-The seventh day of February, Anno Domini one thousand eight hundred and fifty-six.

JAMES POLLOCK.

No. 46.

AN ACT

To vest in Christian L. Hershey, the right and title of the Commonwealth to certain Real Estate.

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 any and all right and title which the commonwealth may have acquired, or may hereafter acquire by virtue of the act of the general assembly of this commonwealth, passed the sixth day of April, Anno Domini one thousand eight hundred and thirtythree, entitled "An Act relating to the escheat of lands held by incorporations without the license of the commonwealth," or otherwise, in and to the two several tracts of land situate in East Hempfield township, Lancaster county, conveyed by James Phalen unto Christian L. Hershey, of the aforesaid township and county, containing respectively ninety-seven acres and one hundred and thirty-two perches and seven acres, be and the