Vanderbilt, and all other persons who may hereafter associate with them in the manner hereafter prescribed, shall be a corporate body by the name of West Branch insurance company, and shall have power and authority to make contracts of insurance with any person or persons, or any body politic or corporate, against loss or damage by fire of steam property, such as steam saw mills, sash and blind manufactories, steam planing mills, @tanneries, and all other buildings and their contents used for hazardous and extra hazardous purposes, for such term or terms of time, and for such premium or consideration and such modification and restrictions as may be agreed upon between the said Corporation and the persons agreeing with them for said insu trance. Style. Insurances. SECTION 2. That the operations, business and office of the said Place of business. corporation shall be carried on and conducted at the borough of Lock Haven, Clinton county, Pennsylvania. SECTION 3. That all persons who shall hereafter insure with Insured to be the said corporation, and all their heirs, executors and admin- members. istrators and assigns continuing to be insured in said corporation, as is hereafter provided, shall thereby become members thereof during the period they shall remain insured by said corporation and no longer. SECTION 4. That the affairs of said corporation shall be man- Directors. aged by a board of ten directors, to be chosen by ballot from among the members, a majority of whom shall constitute a quorum for the transaction of business. G. C. Harvey, Peter Dickinson, Samuel Ceist, William White, John J. Pearce, John B. Hall, Thomas Kitchen, F. F. Abrams, C. A. Moyer and D. K. Jackman, shall be the first directors of said corporation, and shall respectively hold their offices as directors until their successors shall be appointed, as follows: Peter Dickinson, John J. Pearce, William White and D. K. Jackman, two years; G. C. Harvey, John B. Hall and C. A. Moyer, three years; Thomas Kitchen, F. F. Abrams and Samuel Ceist, four years, respectively, from the first day of January, one thousand eight hundred and fifty-five. The first election of directors shall be had the first Monday of January, one thousand eight hundred and fifty-seven; the second election of directors the first Monday of January, one thousand eight hundred and fifty-eight; the third election of directors the first Monday of January, one thousand eight hundred and fifty-nine. The persons who shall be chosen directors at the said several elections shall respectively hold their offices for the term of three years; all of said elections shall be held after notice of the same shall have been published in some public paper in said county at least two weeks preceding such election. Such directors shall be elected by members of this company holding policies therein, and one vote shall be allowed on every three hundred dollars insured. SECTION 5. The board of directors shall elect a president, officers vice president, and appoint a secretary, treasurer and executive committee, of their own members, and they may appoint a general agent, all of whom may hold their offices during the term for which they may be elected or appointed, not exceeding five years at any one appointment; and said board of directors may appoint such subordinate agents and officers as they may deem necessary, which said subordinate agents and officers may hold their offices during the pleasure of said board. The executive committee, when the board of directors is not in session, may Insurances. Elections. Losses. Payment of losses Assessments. Statement of affairs. By-laws Executive committee. exercise all the powers vested in this company, except as shall be otherwise provided by said board in their by-laws. SECTION 6. That the rates of insurance shall be from time time fixed and regulated by the directors of the company, and premium notes therefor shall be received from the insured, which shall be paid at such time or times and in such sum or sums as the corporation shall from time to time require; and any per son applying for insurance shall pay cash premium in addition to a premium note, or a definite sum of money to be fixed by said corporation in full for said insurance. SECTION 7. That if it shall at any time happen that an elec "tion of president, secretary, treasurer or director shall not be made on any day when pursuant to this act it ought to have been made, this corporation shall not for that cause be deemed dissolved, but it shall be legal on any other day to hold and make an election of officers and directors in such manner a shall have been regulated by the by-laws and ordinances of said corporation. SECTION 8. That if it should ever happen that the stock of said company, deposited and paid as aforesaid, shall not be sufficient to pay all the losses occasioned by fire, then and in such case the sufferers insured by such company shall receive towards making good their respective losses, a proportionable dividend of said whole stock, according to their respective losses and the respective sums to them insured by said company or if there should be an excess of funds, the directors may de clare a dividend to each member, apportioned to the amount originally paid. SECTION 9. That every member of said company shall be bound to pay for losses and such necessary expenses as afore said, accruing in and to said company, in proportion to the amount of his deposit note; and suits at law may be main tained by said corporation against any of its members for the collection of said deposit notes or any assessment thereon, of for any other cause relating to the business of said corporation: also suits may be brought by any member against said corpora tion for losses if payment is withheld more than four months after the company are duly notified of such losses. SECTION 10. That whenever an assessment is made on any premium note given to this company, in consideration for any policy of insurance issued by said company, and an action is brought for the recovery of such assessment, the certificate of the secretary, specifying the assessment and the amount due on such note by means thereof, shall be taken and received as prima facia evidence thereof in all courts of this commonwealth. SECTION 11. That it shall be the duty of the secretary the first of January of each year to cause to be made and published in one or more newspapers of Clinton county, a statement of the affairs of the company, SECTION 12. That the directors shall have power to make from time to time such by-laws, not inconsistent with this act and the constitution and laws of this state, as may be necessary! for the government of its officers and the conduct of its affairs, and every member of this company shall be bound by the pro visions of this charter and such by-laws. SECTION 13. That the president, secretary and treasurer shall constitute the executive committee or board of the company, nd when a quorum of the directors are not in session may exrcise all the powers vested in the board of directors. SECTION 14. That the steam department shall be conducted Steam departm the plan of mutual insurance, and that said steam depart- ment. nent shall be conducted separate and apart from the cash de artment hereinafter named.、 SECTION 15. That said corporation have the right of creating Capital stock. apital to said company of a sum not less than one hundred housand dollars and not more than three hundred thousand lollars, and to manage the same separate and apart from said nutual department of said company. SECTION 16. That the time and mode of increasing the cash apital of said company, as mentioned in the preceding section, nd requiring payment thereof, shall be fixed and determined by the directors in a manner not inconsistent with this charter. SECTION 17. That the board of directors shall cause books to e kept for the registry and transfer of shares of the cash business of said company. Every transfer to be valid must be made on said books and signed by the shareholder, or his or her ittorney duly authorized in writing, and all transfers shall be nade subject to the conditions of this charter or the by-laws hat may be adopted by the directors. SECTION 18. That the shares of the capital stock of this company shall be deemed pledged and held in security by the officers thereof, for the payment of all debts and liabilities of the owners thereof, to this company, whether absolute or contingent, and no transfer of any stock can be made until such debts or liabilities are discharged, without a resolution of the board of directors to such a transfer. Mode of payment Transfers. Payment of debts SECTION 19. That said cash capital shall be divided into Value of shares. shares of one hundred dollars each, and that all persons hold ing capital stock shall be entitled to one vote for each three hundred dollars so held. SECTION 20. That the corporation hereby created shall be Powers of comcapable of contracting and being contracted with, of suing and pany. being sued, of pleading and being impleaded, in all courts and places and in all matters whatsoever, with full power to hold, possess, use, occupy and enjoy all such real estate as shall be necessary for the transaction of its business, or which may be conveyed to said company as security or in payment for debts that may be due or owing said company, or in satisfaction of any judgment of any court of law, or any order or decree of a court of equity in their favor, and sell, convey and dispose of the same, and may have a common seal and use it at pleasure; and to receive all proposals and applications for insurance in writing as a warranty on the part of those insuring, and to base policies of insurance thereon, and to incorporate the same as a part of the contract between the company and the insured, and for the purpose of defining the rights of the contracting parties. SECTION 21. That all policies or contracts of insurance which Policies. may be made or entered into by said corporation, shall be subscribed by the president and secretary, or such other officer as shall be designated for that purpose by its by-laws, and being so signed shall be binding on said company without the seal thereof, according to the true intent or meaning of such policy or contract. Insurances on property. On lives. SECTION 22. That the said company shall also be empowered, if they see proper, to take risks against fire on all kinds of merchandize, buildings or other property of whatever nature or quality, either limited or perpetual; and also to effect marite and inland insurance on vessels, boats, cargoes and freights, and on merchandize and all other property transported on rivers, canals, lakes and railroads, and by steamboats, wagons or other wise, and of all kinds of lawful pursuits, business or transa tions in which there is or may be danger of loss or risk; and also to grant annuities and make insurance on lives of what ever sort or nature, and to execute such agreements, policies and other instruments as may be necessary to effect the same: and it may and shall be lawful for any and every person to insure with the said company and to become members of the said corporation, and be entitled to a pro rata share of any profi which may be made by such insurance, to be declared and divided as herein before directed by the provisions of this act HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The twelfth day of April, Anno Domini one thousand eight hundred and fifty-five. JAMES POLLOCK No. 624. AN ACT To change the name of Matilda John to Matilda John Gross. SECTION 1. Be it enacted by the Senate and House of Represen tatives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the name of Matilda John, infant daughter of John C. John and the late Matilda John, deceased, and adopted daughter of Augustus H. Gross, M. D., and Eveline his wife, all of Allegheny county, Pennsylvania, be and the same is hereby changed to that of Matilda John Gross, and by the said name she shal hereafter be known, with like legal effect as if it had been her proper name heretofore by nativity and repute. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The eighteenth day of April, Anno Domini one thousand eight hundred and fifty-five. JAMES POLLOCK. No. 625. AN ACT incorporate the White Sulphur Springs Company, of Fayette County. SECTION 1. Be it enacted by the Senate and House of Represenives of the Commonwealth of Pennsylvania in General Assemmet, and it is hereby enacted by the authority of the same, That nry Waller, Thomas R. Davidson, Dr. Smith Fuller, Daniel Corporators. ine and Moses Collins, and their successors, be and they are eby incorporated and made a body politic and corporate, by name of the White Sulphur Springs company of Fayette inty, and by that name shall have perpetual succession, and capable in law of holding and conveying all real and peral property as may be necessary for the objects of this inporation, may sue and be sued, plead and be impleaded, in courts of law and equity, may have a common seal, and may eive, execute and deliver all such instruments of writing, I do such acts and things necessary to promote the objects 1 designs of said incorporation. SECTION 2. That the lands which may be purchased and held said company shall form a common stock, and be divided > a convenient number of shares, and apportioned by the said npany among the subscribers, according to their respective erests, for which certificates of stock shall be issued, and be ignable and transferable, in such way and subject to such ditions as the said company may from time to time prescribe, i the said shares of stock so created, shall be for all purposes emed personal estate: Provided, That the quantity of land ich shall be held by said company shall not exceed one ousand acres. Style. Powers. Stock. SECTION 3. That the object and purposes of this incorporation SECTION 4. That the stockholders shall meet as soon as prac- Organization. SECTION 5. That the directors shall have full power to make y-laws, and to appoint such officers and agents as they shall leem expedient for the well conducting and transacting the usiness of the company, to declare and provide for the pay Officers. |