No. 263. AN ACT To incorporate the Brady's Bend Iron Company. 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 H. A. S. D. Dudley, John H. Haines, W. D. Slack and Joseph Corporators Winslow, of Brady's Bend, Armstrong county, Pennsylvania, George W. Cass, of Pittsburg, W. B. Ogden, Henry R. Payson and Edwin H. Sheldon, of Chicago, Illinois, and Samuel J. Tilden, of the city of New York, their associates, successors and assigns, and all such persons and parties, companies or corporations as shall become stockholders in the company hereby incorporated, whether citizens or residents of the United States, or elsewhere, shall be and they are hereby constituted a body politic and corporate, by the name, style and title of the Brady's Style. Bend iron company, to be located at and in the vicinity of Brady's Bend, Armstrong county, Pennsylvania; and by said name, Location. style and title shall have succession and a common seal, with power to alter the same at pleasure; and shall have power to sue and be sued, plead and be impleaded, in any court of this Powers. ment of the mineral land which may belong to said company, May hold lands stock. SECTION 2. A majority of the corporators herein named may Subscriptions to proceed to open books for subscription to the stock of said company at Brady's Bend; and shall at the same time, or thereafter, designate a time and place for holding the first election of directors of said company, by parties previously subscribing to the stock thereof; each share of stock so subscribed for shall be entitled to one vote, and stockholders may vote in person or by proxy. SECTION 3. That the capital stock of said Brady's Bend iron company shall be five hundred thousand dollars, to be divided into shares of one hundred dollars each, with the right and power in said company to increase its capital stock from time to time as it may elect, to any sum not exceeding the whole cost to said company of its lands, buildings, works, improvements, materials, stocks and other property, but not in any event to exceed the sum of two millions of dollars. SECTION 4. That subscriptions to the capital stock of this corporation may be made payable in money, or in real or personal property, appropriate to the business contemplated by this act, or at a fair valuation to be fixed upon by a majority in interest of its stockholders at the time of such purchase; and such purchases may include the real and personal estate heretofore belonging to parties associated jointly in business, and known by the name and firm of the Brady's Bend iron company. SECTION 5. That the affairs of said corporation shall be managed and conducted by a board of directors, to consist of not less than five, nor more than thirteen, as may be determined from time to time by the stockholders, at any meeting of said stockholders; said board of directors shall be stockholders and shall be elected annually after the first election, as herein before provided for, and shall hold their offices for one year, and until their successors are elected; but any failure or omission to elect such directors annually, shall in no wise impair or affect meanwhile the rights and powers of those holding over, or the rights and interests of said company in any way; said board of directors shall elect a president from one of their number, and may elect a vice president, and shall fill all vacancies occurring in their own body, until the next succeeding election by stockholders, and a majority of said board shall form a quorum for business. SECTION 6. That the board of directors shall have power and authority to make and establish such by-laws as are not inconsistent with the constitution of the United States and state of Pennsylvania, and the laws thereof, as may in their judgment be necessary and proper for the organization, regulation and management of the business of said company, and the meetings of stockholders and directors to be held within or without the state, as may be deemed advisable. SECTION 7. That in case the board of directors shall make a dividend of more than the actual net profits, the directors consenting thereto knowingly, shall severally be liable to the corporation, in their individual capacity, for the excess so divided and paid. SECTION 8. That this act shall take effect as soon as one thousand shares of stock are subscribed for, and shall continue in force and effect for twenty-five years, after which it shall cease to exist, except so far as may be necessary for the purpose of winding up its affairs. SECTION 9. That the corporation shall pay into the treasury of the common wealth a bonus of one-half of one per centum on the capital stock hereby authorized, or hereafter created, in four equal annual instalments, and such other tax as is now or may hereafter be imposed by law on corporations; and the stockholders of said company shall be individually liable for all Individual liadebts due mechanics, workmen and laborers employed by said company, and for country produce furnished to said company, to be sued for and collected as is provided in the twelfth, thirteenth and fourteenth sections of the act incorporating the Lackawanna coal and iron company, approved the fifth day of April, one thousand eight hundred and fifty-three. SECTION 10. That said company may borrow money and May borrow create indebtedness, in such way and manner as the board of money. directors may deem necessary for the prosecution and management of the business of the same, and issue the securities of said company therefor, in such form and manner, and payable in such places as they may deem proper, at a rate of interest not exceeding seven per cent., and dispose of such securities in such manner and at such places as such board may direct. SECTION 11. That executors, administrators, guardians and Executors, guarall other trustees, who may hold stock in their representative dians, &c., holding stock not percapacity, shall be entitled to represent the same without being sonally liable. subject to any personal liability therefor, or on account thereof: Provided, That persons holding stock pledged by the owners Proviso. thereof as collateral security, shall not be held personally subject to any liability as stockholders, and shall not be entitled to represent said stock, but that the owners thereof shall be entitled to such representation, as fully as though no such pledge had been given. ELISHA W. DAVIS, Speaker of the House of Representatives. JOHN P. PENNEY, Speaker of the Senate pro tem. APPROVED-The ninth day of April, Anno Domini one thousand eight hundred and sixty-one. A. G. CURTIN. No. 264 AN ACT To confirm the title of the Wesleyan Female College, situate in Wilmington, Delaware, to certain real estate situate in the city of Philadelphia, Pennsylvania. WHEREAS, James L. Houston and wife, by indenture, bearing date the ninth day of December, Anno Domini one thousand eight hundred and fifty-eight, recorded in Philadelphia, in deed book A D B, No. fifty-seven, page twenty, et cetera, granted and conveyed to the Wesleyan Female college, in fee, for the con sideration of six hundred and ninety dollars, all that lot, piece or parcel of land, and appurtenances, situate in the city and county of Philadelphia, state of Pennsylvania, and described. as follows, to wit: Situate on the north side of Dauphin street, at the distance of fifty feet from the west side of Tulip street, late district of Richmond, containing in front or breadth on the said Dauphin street, eighteen feet, and extending in length or depth northwardly of that width between lines at right angles with said Dauphin street, eighty-four feet six and one-eighth inches to the back end of the Gordon street lots, bounded northwardly by other grounds of the said James L. Houston, eastward by the ground formerly of Samuel Ayers, westward by ground of Summerfield Methodist Episcopal church, in the county of Philadelphia aforesaid, and southward by Dauphin street aforesaid, together with the party wall on the eastern line of the above described lot: And whereas, Doubts have arisen as to the right of the Wesleyan Female college, being a foreign incorporation, to hold the said real estate conveyed as above recited, and it is proper that the title to the same should be confirmed; therefore, 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 said deed, made the ninth day of December, Anno Domini one thousand eight hundred and fifty-eight, by the said James L. Houston and wife, to the said Wesleyan Female college, shall be taken to be good and valid; and that the title to the said real estate be vested and confirmed absolutely in the Wesleyan Female college, their successors and assigns; and that any or all rights or claims which this commonwealth may have to the said real estate, be and they are hereby extinguished and released to the said Wesleyan Female college, their successors and assigns. ELISHA W. DAVIS, Speaker of the House of Representatives. JOHN P. PENNEY, Speaker of the Senate pro tem. APPROVED-The ninth day of April, Anno Domini one thousand eight hundred and sixty-one. A. G. CURTIN. No. 265. AN ACT Incorporating the East Pennsylvania Agricultural and Mechanical Society. 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 Samuel E. Hartranft, Frederick Haas, Perry M. Hunter, Wil- Corporators. liam L. Williamson, Henry S. Hitner, John Ogden, Abraham Brower and Samuel Jarrett, and their successors, be and they are hereby incorporated and made a body politic and corporate, in fact and in law, by the name, style and title of the East Style. Pennsylvania agricultural and mechanical society, to be located at Norristown, in Montgomery county, and by that Location. name shall have perpetual succession. SECTION 2. That the object of this society shall be the pro- Objects. motion of the science of agriculture and horticulture, the improvement of the breed of horses, cattle and other stock, the advancement of mechanical and industrial pursuits, and generally all such lawful incidents to the foregoing objects as may be prescribed by the by-laws of the society. SECTION 3. The number of shares to be issued by this corpo- Capital stock. ration shall not exceed four thousand, and the par value of each share shall be five dollars; and the holders of said stock shall be entitled to such dividends and at such times as the execu tive committee may deem it advisable to declare. SECTION 4. The said society shall have the right to pur- Privileges. chase and hold such real estate in the county of Montgomery, from time to time, for cash or on credit, or partly for cash or partly on credit, as may be necessary for the purposes of the society, with power to execute a mortgage or mortgages for the purchase money thereof; and may also hold such personal property as may be necessary; but the clear yearly value or income of all the real estate that may be used by said society, shall not exceed the sum of ten thousand dollars. SECTION 5. Upon the death of any stockholder of this society, Death of stockhis or her interest shall revert to his or her legal representatives, holders, relative to be enjoyed by them as if original stockholders. to. stock transfera ble. SECTION 6. Each stockholder of this society shall be entitled Certificates of to a certificate for each share of his or her stock issued, in the name and under the seal of the corporation, attested by the president and secretary, which certificate may be transferred by assignment or endorsement; and the person to whom such transfer shall be made, by complying with the rules and regulations of the society, shall be considered and become a member of the same. SECTION 7. Every stockholder shall become de facto a mem- Votes. ber of the society, and subject to the annual payment of fifty cents; and at all elections for officers of the society, each stockholder shall be entitled to one vote, and upon all ques |