the directors of said company, or be retained by them for the ELISHA W. DAVIS, Speaker of the House of Representatives. ROBT. M. PALMER, We do certify that the bill, entitled "An Act relating to railroad companies," was presented to the governor on the eleventh day of April, one thousand eight hundred and sixty-one, and was not returned within three days after the meeting of the present legislature; wherefore it has, agreeably to the constitution of this commonwealth, become a law in like manner as if it had been signed. E. H. RAUCH, Clerk of the House of Representatives. HARRISBURG, May 16, 1861. RUSSELL ERRETT, No. 658. AN ACT To incorporate the Lombard and South Street Passenger Railway Com pany. 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 Commissioners. James S. Kerr, Charles A. Rubicam, Edward S. Lawrence, Robert Harmer, Samual M'Manemy, Joseph W. Souder, Andrew Morrow, John Wilson, William B. Mann, Francis M'Ilwain, John M'Carty are hereby appointed commissioners to open books, receive subscriptions, and organize a company, and that they and their associates and successors be and they are hereby constituted a body politic and corporate by the name, style and title of the Lombard and South Street Passenger railway company; and as such they shall have power to lay and construct a rail. way in the city of Philadelphia, and carry passengers along such route and streets as are hereinafter provided for; and they shall have the right to charge such rate of fare as the directors of said company may from time to time determine upon, and to equip said road, to purchase, hold and convey such real estate, and to erect thereon such buildings and improvements as they may deem necessary for the purposes of said company. Style. Capital stock. SECTION 2. That the capital stock of said company shall consist of two thousand shares of fifty dollars each, with the privi lege of increasing the same to twenty-five hundred shares; said SECTION 4. That whenever a bridge shall be constructed over Authorized to the river Schuylkill, by the city of Philadelphia, at Lombard, extend their railSouth or any street south of Locust street, or whenever any over Schuylkill way, when bridge such bridge over the river Schuylkill, within the limits named, has been conshall come into the possession of the said city, then the said structed by, or Lombard and South Street Passenger railway company shall session of city. have the right and privilege to extend their railway, by single come into pos connect and use or double track, to and over said bridge, upon such terms as may Terms. be agreed upon between the said company and the councils of said city; and further, to continue their railway tracks to and Further privialong said Lombard and South streets, on the west side of the leges granted. river Schuylkill, in like manner as they are herein authorized on the east side of said river; and further, to lay out a railway on any two streets they may deem advisable, running north and south on the west side of said river, between said Lombard and South streets, for the purpose of making their circuit complete. Whenever the said bridge at South street shall be com- Philadelphia and pleted, the Philadelphia and Darby railroad company shall have Darby railroad the right to connect with the said Lombard and South Street company may railway, and to use the tracks of the same by running all their tracks. cars, which make the full trip to and from Darby, over said tracks, for which use the said Philadelphia and Darby railroad company shall pay a fair compensation, to be mutually agreed Compensation upon; and in case the said companies cannot agree upon such therefor. terms, then the court of common pleas of the city of Philadel- In case of disphia shall, upon petition presented by either party, appoint three agreement court disinterested persons, who shall fix the amount to be paid for to appoint perthe said use of tracks of the said Lombard and South Street amount to be railway company, and the decision of any two of whom in the paid. premises, when confirmed by the said court, shall be final and Confirmation of conclusive: Provided, That the presons so appointed shall be report by court. sons to fix the Persons appoin duly sworn or affirmed before entering upon the discharge of ted to be sworn. their duties; and shall file their report in the prothonotary's Report to be filed office, in said court, within thirty days after their appointment as aforesaid. in prothonotary's office. Organization. Subscriptions. Directors. Vacancies. Officers. Votes. Seal. By-laws. May borrow mo bonds. SECTION 5. That the parties herein before named, or a majority of them, may proceed to organize said company and obtain subscriptions to the capital stock thereof; and after one thousand shares have been subscribed for, and ten per centum paid thereon, then the subscribers shall proceed to elect a board of five direc tors, who shall serve until the first Tuesday in November fol lowing, or until their successors are elected; and the stock. holders shall, annually thereafter, on the first Tuesday in November, elect a similar board of five directors, to serve for one year, or until their successors are elected; and if, for any reason, said election shall not be held at the time indicated, then another time shall be appointed by the directors, after public notice of two weeks has been given in one daily newspaper published in the city of Philadelphia; and the directors shal have power to fill all vacancies in their board, whether from death, resignation or otherwise; but no person shall act as a director who is not a stockholder. SECTION 6. That the said directors shall have the power to appoint a president, treasurer and such other officers as they may deem necessary; and in all elections for directors, and at other meetings of stockholders, each share shall entitle the holder thereof to one vote; but no stockholder or assignee shall vote upon any share of stock on which an instalment is due and unpaid. SECTION 7. That the said company shall have the power to make and have a common seal, and the same to alter and renew at pleasure; and also establish and execute such by-laws and regulations as appear to be necessary for the government of said corporation, the same not being inconsistent with the constitution of the United States and of this state; and they shall generally do and perform all and singular the matters and things which to them it shall lawfully appertain to do, for the wel being of said corporation and proper management of the affairs thereof. SECTION 8. That the said company shall have the power to ney and issue borrow money, in any sum not exceeding in amount one-half of its authorized capital stock, at a rate of interest not exceeding seven per centum per annum; and for the purpose of securing the re-payment of the same, and the interest thereon, to issue bonds; the principal sum shall be made payable at such time as the directors may deem advisable; and the said bond shall be further secured by a mortgage of and on the said railway so constructed, and the corporate rights and franchises granted by this act: Provided, No bonds shall be issued for a sum less than one hundred dollars; and they shall have the right to create a sinking fund for the redemption of said bonds. Proviso. Dividends. SECTION 9. That dividends of so much of the profits of the said company as shall appear desirable to the directors, shall be declared, from time to time, and shall be paid after ten days notice to the stockholders, at the office of the company; but said dividends shall, in no case, exceed the net earnings of the company. SECTION 10. That the said company shall be subject to all the Subject to. ordinances of the councils of the said city, and shall be subject to pay such taxes as are now imposed by the said councils, not Taxes. exceeding, in rate or amount, that paid by any other passenger railway company in the said city; and further, shall be subject to all the provisions of an act regulating railroad companies, approved nineteenth day of February, Anno Domini one thousand eight hundred and forty-nine, so far as the same are not altered and supplied by this act. ELISHA W. DAVIS, Speaker of the House of Representatives. JOHN P. PENNEY, We do certify that the bill, entitled "An Act to incorporate the Lombard and South Street Passenger railway company," was presented to the governor on the eighteenth day of April, A. D. one thousand eight hundred and sixty-one, and was not returned within three days after the meeting of the present legislature; wherefore it has, agreeably to the constitution of this commonwealth, become a law in like manner as if it had -been signed. E. H. RAUCH, To change the place of holding the elections in Perry township, Snyder county. 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 from and after the passage of this act, the general, special and township elections for the township of Perry, in the county of Snyder, shall hereafter be held at the public house now kept by Peter Laubenstein, in said township. J. H. SELTZER, Speaker of the House of Representatives pro tem. JOHN P. PENNEY, We do certify that the bill, No. 1079, entitled "An Act to change the place of holding the elections in Perry township. Snyder county," was presented to the governor on the eighteenth day of April, one thousand eight hundred and sixty-one, and was not returned within ten days (Sundays excepted) after it had been presented to him; wherefore it has, agreeably to the constitution of this commonwealth, become a law in like man ner as if he had signed it. E. H. RAUCH, HARRISBURG, May 16, 1861. quired to make return under oath to auditor general of re ceipts from com missions, discounts, &c. No. 660. AN ACT Relating to Brokers and Private Bankers. 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 Brokers and pri- every stock broker, bill broker, exchange broker, real estate vate bankers re broker and private banker in this commonwealth shall, on or be fore the first Monday of December next, and on or before the same day in each year thereafter, make a written return, under oath or affirmation, to the auditor general of this commonwealth, in which return he shall exhibit and set forth the full amount of his receipts from commissions, discounts, abatements, allowances and all other profits arising from his business during the year ending with the thirtieth day of November preceding the date of such annual return, and shall forthwith pay into the state treasury three per centum upon the aggregate amount contained in such return for the use of the commonwealth; all revenues derived from this source are hereby appropriated to the sinking fund, to be applied, under the direction of the commissioners thereof, to the payment of the interest and reduction of the principal of the public debt, in like manner as other revenues appropriated to that fund are now applied. Three per cent. upon the aggregate to be paid into state treasury. Appropriated to sinking fund. Names of person tion, and amount of capital invested to be report SECTION 2. That every stock broker, bill broker, exchange or persons, loca broker, real estate broker and private banker in this commonwealth, whether the business be conducted by an individual, or more than one person in partnership, shall within three months after the passage of this act, and all others who shall hereafter engage in such business in this commonwealth within sixty days after they commence the same, make a report to the auditor general in writing, and under oath or affirmation, setting ed. |