Relative to the Philadelphia Real Estate Savings and Loan Company. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The twenty-sixth day of April, Anno Domini e thousand eight hundred and fifty-five. JAMES POLLOCK. No. 632. AN ACT > incorporate the Lafayette Mutual Insurance Company of Philadelphia. SECTION 1. Be it enacted by the Senate and House of Representives of the Commonwealth of Pennsylvania in General Assemy met, and it is hereby enacted by the authority of the same, That . G. Waterman, Hugh Craig, S. S. Bishop, Thomas E. Baxr, John Reynolds, John C. Clark, Franklin Platt, James Bel- Corporators s, Thomas Bellas, H. W. Arey, Samuel J. Christian, John hornley, N. Le Brun, S. K. Hoxie, Henry Beckley, James W. Cartien, Conrad B. Andress, A. M. Eastwick, John U. Giller Style. Privileges. Affairs, how managed. Elections. Letters patent. Proviso. and Charles C. Boker, and all other persons who may hereafter associate with them, shall be and are hereby constituted a body politic and corporate by the name of the Lafayette mutual insurance company of Philadelphia, which shall have perpetual succession, with power and authority to make contracts of it surance with any person or persons, or any body politic or cor porate, against loss or any damage of property by fire or any cause of risk, to make all kinds of insurance against loss or damage of goods, merchandize or other property, in course of transportation by land or water or otherwise, and in any vessel or boat or other water craft, and to make insurance upon such goods, wares and merchandize, and to cause themselves to be insured against any loss, damage or risk in the course of their business, for such term or terms of time and for such premium or consideration, and with such modifications and restrictions as may be agreed upon between the said corporation and the persons agreeing with them for insurance, with a capital stock of ten thousand shares of fifty dollars each, and shall have all the privileges, powers and immunities conferred by existing laws of this commonwealth upon the Philadelphia fire and life insurance company, except such as are inconsistent with this act. SECTION 2. That the affairs of this corporation shall be managed by a president and thirteen directors, and all vacancies occurring in said board shall be filled by the remaining directors for the remainder of the year for which they were elected. SECTION 3. That after the first election the directors shall be elected by the stockholders on the third Monday of November. annually, at such hour and place within the city of Philadelphia as the directors for the time being shall appoint, of which ten days' notice, in at least two newspapers published in said city. shall be given. SECTION 4. That as soon as one thousand shares of the capital stock are subscribed for, and five dollars per share paid in the governor shall issue letters patent, incorporating the subscribers to said stock into a body politic and corporate; and in all elections each share of stock shall entitle the holders thereof to one vote: Provided, That this corporation shall not issue scrip in payment of dividends, or any paper, bill or note to be circulated as bank notes, nor exercise any banking privileges whatsoever. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The twenty-sixth day of April, Anno Domini one thousand eight hundred and fifty-five. JAMES POLLOCK. ༢ ་ No. 633. AN ACT To incorporate the Phoenix Iron Company. SECTION 1. Be it enacted by the Senate and House of Represen'atives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That David Reeves, Samuel J. Reeves, Robert S. Buck, Samuel A. Corporators. Whittaker, Robert C. Nichols, George Walters, C. B. M'Alister, James Millikin, Samuel Millikin, junior, Charles W. Morris, William Stokes, Nathan Beekley, and such other persons as shall be associated with them and their successors, be and the same are hereby erected into a body corporate and politic, by the name, style and title of the Phoenix iron company, with Name and capital a capital stock of five hundred thousand dollars, with power to increase the same to fifteen hundred thousand dollars, to be divided into shares of one hundred dollars each. SECTION 2. That the affairs of said company shall be managed Election of officers by a board of five directors, one of whom shall be the president, who shall be chosen by the stockholders; the first election shall be held within six months after this act shall take effect; of which election public notice shall be given at least four weeks, in one newspaper published in the county of Chester; and subsequent elections shall be held at such time and place annually as the directors shall determine, of which the same notice shall be given; all elections shall be by ballot, and every share of stock subscribed and paid in, shall entitle the holder to one vote, in person or by proxy: Provided, That in case of Proviso. failure to hold an election under this act, the former directors shall continue in office until their successors be duly elected; and in case of the death or resignation of any director, the re- Vacancies. maining directors may elect a person to serve until the next annual election. SECTION 3. That this corporatian shall have authority to hold and use a common seal, and the same to change, alter or amend at pleasure, and by the style and title aforesaid shall be capable in law, to sue and be sued, before any court in this commonwealth, and may do and make all needful rules, regulations and by-laws, for the well ordering of the business affairs of the corporation, so that the same shall in nowise conflict with, or be contrary to the laws and constitution of the commonwealth, or of the United States. Votes. Privileges. SECTION 4. That the said corporation, by the name aforesaid, Lands. may hold in Chester and other counties, lands not exceeding five thousand acres at one time, with power to mortgage, sell, lease, or otherwise dispose of the same or any part thereof; and the capital of the company may be employed in mining iron ore, making and manufacturing iron, mining coal and limestone, and transporting and vending the same, and for such other objects as may be necessary in the prosecution of said business. SECTION 5. That the stock may be transferred agreeably to Transfers. the by-laws which may be adopted by the corporation. Dividends. Bonus. Letters patent. Subscriptions. Reservation. SECTION 6. That dividends may be declared and paid when ever the directors deem it advisable; but said dividends shall in no case exceed the amount of actual profits acquired by the corporation; and if the directors shall make a dividend of more than the actual net profits, the directors consenting thereto, shall severally be liable to the corporation in their individual capacity, for the excess so divided and paid; and said company shall pay into the treasury of the state, a bonus of one half of one per centum, upon the amount of the capital stock, and any increase of the same payable in four annual instalments, the first whereof shall be paid in one year from the date hereof. SECTION 7. That this act shall not take effect until one thou sand shares shall be subscribed and paid in, of which a statement, containing the names of the subscribers and the amount subscribed by each, shall be given to the governor, to be filed in the office of the secretary of the commonwealth, whereupon the governor shall issue letters patent to the corporators. SECTION 8. That the subscriptions of stock may be paid in real and personal estate, appropriate to the business contemplated by this act, at a bona fide cash valuation, to be agreed upon by a majority in interest of the subscribers and stockholders; and the said corporation may issue bonds, and sell the same at their market value, notwithstanding it may be less than par: Provided, That no bond shall be issued for a less amount than one hundred dollars. SECTION 9. That the legislature hereby reserves the right to amend, alter, or repeal this charter, at any time, in such manner, however, as shall not do injustice to the corporators. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The twenty-seventh day of April, Anno Domini one thousand eight hundred and fifty-five. JAMES POLLOCK. No. 634. AN ACT To incorporate the Columbia Coal and Iron Company. 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 Charles B. Penrose, Lee W. Buffington, M. D., and John C. Sims, or a majority of them, and their associates, successors and assigns, be and they are hereby created and constituted a body corporate and politic, by the name, style and title of The Columbia coal and iron company, the capital stock of which company shall be five hundred thousand dollars, with the priti lege of increasing the same in the sum of two hundred and fifty thousand dollars more, and the said company may hold not exceeding three thousand acres of land at any one time, in the counties of Columbia and Montour; and the said company shall have the same powers, liberties, privileges and immunities, and be subject to the same terms and conditions, as are imposed on the Anthracite iron company, passed the twenty-fifth day of May, Anno Domini one thousand eight hundred and thirtynine; and the said company are hereby further authorized to employ such portion of their capital as may be necessary in mining coal, constructing railroads, not to extend within the limits of Luzerne county, and in transporting to market and in vending the produce of their lands and mines, and in dealing in such articles of personal property as may be necessary to enable them successfully to carry on their operations: Provided, That the said company shall pay to the commonwealth a tax of one-half of one per centum on its capital stock, in five annual instalments, the first whereof shall be paid before this act shall go into effect. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, Speaker of the Senate. APPROVED-The twenty-seventh day of April, Anno Domini one thousand eight hundred and fifty-five. JAMES POLLOCK. No. 635. A FURTHER SUPPLEMENT To an act to incorporate the First Reformed Congregation of the borough of York and its vicinity, passed the fourteenth day of March, one thousand eight hundred and forty.nine. SECTION 1. Be it enacted by the Senate and House of Represen tatives of the Commonwealth of Pennsylvania in General Assem bly met, and it is hereby enacted by the authority of the same, for the more convenient management of the cemetery under Corporators. their care, the persons elected, or who may from time to time be elected trustees, in conformity with the act to which this is a supplement, shall be and hereby are created and constituted a distinct body corporate, under the name and title of The trus- Style. tees of Prospect Hill cemetery, and by that name shall be able and liable to sue and be sued in any court of law or equity, and may have and use a common seal; and the title in fee simple Powers. of such land as has already been purchased, or may hereafter be purchased by them, for the purpose of a cemetery, shall be and hereby is vested in the said corporation, which shall be entitled to all the privileges and subject to all the restrictions. provided for in relation to the said cemetery by the act and the supplement to the act to which this is a further supplement. |