Annual election. laws. SECTION 8. That the annual election of president and dire tors of said association shall be held at such place as may be fixed by the by-laws, on the first Monday of July in every year, of which notice shall be given by the secretary at least tw weeks previously, in at least one paper published in the county of Tioga. SECTION 9. That the stockholders of said association shall Alteration of by have power at any general meeting for the election of president and directors, or any meeting called for the purpose, to alter or amend the by-laws enacted by the board of directors. Reservation. SECTION 10. That the legislature hereby reserve the right to alter, revoke or annul the privileges and charter hereby granted, whenever the same shall become injurious to the citizens of this commonwealth, in such manner, however, that no injustice shall be done to the corporators. HENRY K. STRONG, Speaker of the House of Representatives. WM. M. HIESTER, APPROVED-The fifth day of May, sand eight hundred and fifty-five. Speaker of the Senate. Anno Domini one thou JAMES POLLOCK. Corporators. Style. Elections: Votes. ! No. 643. AN ACT To incorporate the Safe Harbor Iron Company. 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, That David Reeves, Samuel J. Reeves, George Abbott, Charles H. Abbott, and John Griffin, Joseph Pancoast, Charles W. Morris, James Millikin, Samuel Millikin, junior, Isaac Pennock, William Stokes, Wyatt W. Miller, Bartram A. Shaeffer, George M. Steinman, 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 Safe Harbor iron company, with 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 by a board of five directors; one of them 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 Lancaster, and subsequent elections shall be held at such time and place ann ally, 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 the Vacancies. te, in person or by proxy: Provided, That in case of failure Proviso. Privileges. Dividends. SECTION 4. That the said corporation, by the name aforesaid, Lands. y hold in Lancaster and adjoining counties, lands not exceedfive thousand acres at one time, with power to mortgage, sell, -se, or otherwise dispose of the same, or any part thereof, and capital of the company may be employed in mining iron , making and manufacturing iron, mining coal and limestone, I transporting and vending the same, and for such other obts as may be necessary in the prosecution of said business. SECTION 5. That the stock may be transferred agreeably to Transfers. by-laws which may be adopted by the corporation. SECTION 6. That dividends may be declared and paid whenr the directors deem it advisable; but said dividends shall no case exceed the amount of actual profits acquired by the poration; and if the directors shall make a dividend of more n the actual net profits, the directors consenting thereto, ll severally be liable to the corporation in their individual acity, for the excess so divided and paid; and said company ll pay into the treasury of the state a bonus of one half of e per cent. upon the amount of the capital stock paid in, and y increase of the same payable in four annual instalments, Bonus. first whereof shall be paid in one year from the date hereof. SECTION 7. That this act shall not take effect until one thou- Letters patent. nd shares shall be subscribed and paid in, of which a stateent containing the names of the subscribers, and the amount scribed by each, shall be given to the governor, to be filed in e office of the secretary of the commonwealth, whereupon the vernor shall issue letters patent to the corporators. SECTION 8. That subscriptions of stock may be paid in real Subscriptions. d personal estate, appropriate to the business contemplated this act, at a bona fide cash valuation to be agreed upon by majority in interest of the subscribers and stockholders, and e said corporation may issue bonds and sell the same at their arket value, notwithstanding it may be less than par: Proded, That no bond shall be issued for a less amount than one indred dollars. SECTION 9. That the legislature hereby reserves the right to Reservation. nend, alter or repeal this charter at any time, in such manner, wever, 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 fifth day of May, Anno Domini one thousand ight hundred and fifty-five. JAMES POLLOCK. Name changed. No. 644. SUPPLEMENT To an act, entitled "An Act to incorporate the Duncannon, Landisburg and Broad Top Railroad Company.” 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, That from and after the passage of this act the Duncannon, Landisburg and Broad Top railroad company shall be named, instead thereof, the Shermans Valley and Broad Top railroad company, with all the powers, privileges and authorities they had under the former name, and be subject to all the restrictions and liabilities to which they were subject under the same. SECTION 2. That said Shermans Valley and Broad Top railHastern terminus. road company shall have power and they are hereby authorized to change the eastern terminus of said railroad from Duncannon, in Perry county, to the mouth of Fishing creek, in said county, with all the rights, privileges and powers to connect their rail. road, at or near the mouth of said Fishing creek, with the Pennsylvania railroad, which are given in the act to which this is a supplement; and that the said Shermans Valley and Broad Top railroad shall pass, as a point on the route thereof, the Burnt Cabins, in Fulton county. HENRY K. STRONG, WM. M. HIESTER, Speaker of the Senate. APPROVED-The fifth day of May, Anno Domini one thou sand eight hundred and fifty-five. JAMES POLLOCK. Corporators. No. 645. AN ACT To incorporate the Farmers' American Mutual Fire Insurance Company of 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, That John Moyer, David B. Fulmer, Aaron Lawbach, W. T. Gerhard, David W. Hess, Michael Fackenthall, George Mill, Justis M'Car ty, Jacob Fackenthall, Peter Jacoby, Isaac Wolfinger, Nicholas Buck, Joseph Trauger, John Clemens, Charles Mann and S.. Privileges. axson, and their associates, successors and assigns, are hereby SECTION 3. That each insurer in or with this company shall Membership. SECTION 4. That general meetings of this company shall be General meetings eld annually, on the first Saturday of November, at any conenient place in the northern part of Bucks county, and also vhenever called by the board of managers, or whenever requested by twenty members; and the members shall at such general meetings pass all by-laws, rules and regulations neces- By-laws. sary for the well government of the affairs of the corporation, or vest the powers so to do in the board of managers; and all elections shall be by ballot, each member entitled to one vote; Elections. he said elections to be conducted by three judges chosen by the members present for that purpose, who shall certify under their hands the result of said election, and the same shall be filed with the papers of the corporation; the managers for the time being shall choose from among their own members one to be President and president, and shall, from time to time, as it may be necessary, choose a treasurer, also appoint a secretary and such other agents and officers as may be necessary, and fix their respective fees and salaries, and require such bonds for the faithful discharge of the duties assigned as may be deemed necessary or the interest of the company may require, and shall have full power to suspend, remove or displace any such officer or agent of the company, and supply any such vacancy which may happen by death, removal or resignation from among their own members, until the next election; and shall procure a book or books, wherein shall be fairly and legibly entered all the transactions of said board of managers, which books shall at all officers. Insurances. Investment of funds. Assessments. Losses, how ascertained. times be open for inspection of the members of said corpora tion; and a copy or copies thereof, signed by the president and attested by the secretary for the time being, shall be deemed and taken as legal evidence against the said corporation as the transaction of said board of managers, a copy of which sha be furnished at the request of any member; and said officer shall, at the annual meeting of the members, present to the company a general and detailed statement of its affairs. SECTION 5. That the president and managers shall have fel power, on behalf of said corporation, to make insurances against loss by fire and storm, on any house, tenement, manufactory. barn or other buildings, and on goods, wares, merchandize and effects, and on household furniture therein, and on hay, grain and other agricultural products in barns, stacks or otherwise and generally on all kinds of goods, wares and merchandize and effects, except books of accounts, bills, bonds, ready money, jewels, plate, paintings, engravings, powder and powder mils distilleries, print works, cotton, woollen and varnish manufac tories; to make, execute and perfect such and so many contracts, bargains, agreements, policies and other instruments as shall or may be necessary and as the nature of the case shall or may require; and every such contract, agreement or policy to be made by the said corporation, shall be signed by the presi dent and attested and signed by the secretary, and also shall b signed by the party insured; and the president and managers are hereby empowered to have made and to procure a seal, with such device as they may deem proper, to be used by them a the common official seal of the company. SECTION 6. That it shall be lawful for said company to em ploy and improve all moneys received by them, and the profits thereof, in the purchase of any ground rents or mortgages, of any loans or stocks of the United States or of this commonwealth; and no money shall be drawn from the funds of the said company for the purpose of making dividends or dividing profits, nor for other purposes than to defray the current and incidental expenses of the corporation; and when the profits or interest on the company's funds shall annually exceed the current and incidental expenses of the company by the sum of one hundred dollars, then such excess, if thought expedient and judicious by the board of managers, may be applied to the pay. ment of such losses as any member of said company may justly entitled to; and when the just demands of in said company or member thereof shall exceed the amount of its available funds on hand, such sums as shall be necessary pay the same, shall, without unnecessary delay, be assessed, by any three of the board of managers appointed by the president, on the insurances, each member to pay in proportion to the amount he has insured, and publish the same; and all and every of the members of the company shall pay into the hands of the treasurer, his, her or their proportionable parts of such rates within sixty days after such publication as aforesaid, and in de fault thereof shall be proceeded against according to the pro visions of this act. any be insured SECTION 7. That all and every member of this company who shall sustain any loss by fire or storm, shall give notice in wri ting, within thirty days, to the president or secretary of said company, who shall appoint a committee of three from the board of managers, that shall assess said damages, |