Court to have

SECTION 4. That the court of common pleas of Luzerne county jurisdiction over be invested with jurisdiction to hear and determine, either br disputes between the borough and suit at law, as in other cases, by case stated, or by the direction township of Pitts of an issue, all disputes and difficulties between the proprietors

ton.

Writ of error may be taken.

Costs.

Treasurer to give bond.

Officers to con

tion.

of the borough of Pittston and the proprietors of the township of Pittston, in relation to the division and disposition of the fund in the hands of the proprietors of the Pittston township, and thereupon to give judgment as shall be just: Provided, That either party shall be permitted to take a writ of error to the supreme court, in the same manner as in other cases of judgment upon verdict: And provided, That the costs shail abide the events in all such suits or proceedings.

SECTION 5. That the treasurer elected in pursuance of this act, before entering upon the duties of his office, shall give bond to the trustees aforesaid, with one or more good and sufficient sureties, in the penal sum of three thousand dollars, conditioned for the accounting for and paying over to his successor in office, all moneys coming into his hands as treasurer of the said

trustees.

SECTION 6. That until the election of officers under the protinue until elec- visions of this act, Charles R. Gormon, Charles Law and Benjamin D. Beyea shall be the trustees, James Brown the treasurer, and A. C. Thompson the secretary, who shall be authorized to do and perform every act, and to bring and prosecute suits at law, in the same manner and form as the trustees, treasurer and secretary, when elected under the provisions of this act, can and may do.

JOHN M. THOMPSON, Speaker of the House of Representatives pro tem. WM. M. FRANCIS,

Speaker of the Senate.

APPROVED-The twelfth day of March, Anno Domini one thousand eight hundred and sixty.

WM. F. PACKER.

No. 708.

AN ACT

To change the name of Jones township, in Elk county.

SECTION 1. Be it enacted by the Senate and House of Representa tives of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the name of Jones township, in the county of Elk, be and is

hereby changed to that of Kane, by which latter name it shall be hereafter known and recognized.

JOHN M. THOMPSON,

Speaker of the House of Representatives pro tem.

WM. M. FRANCIS,

Speaker of the Senate.

APPROVED-The twenty-first day of March, Anno Domini one thousand eight hundred and sixty.

WM. F. PACKER.

No. 709.

AN ACT

To incorporate the Somerset Iron and Coal Company of Pennsylvania.

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 Edward H. Stabler, John S. M'Kim, Edward C. Thomas, Ira Corporators. C. Canfield, George H. Berry and Nicholas L. Wood, and their associates, successors and assigns, be and they are hereby constituted a body corporate and politic, by the name, style and title of the Somerset iron and coal company of Pennsylvania, Name. for the purpose of making iron, mining of ores and coal, and transporting and selling the same, and for the transaction of the usual business of companies engaged in the making of iron, Objects. mining of ores and coal, and transporting to market and selling of iron and coal, and the other products of iron ore and coal mines; and the said corporation, by the said name, is hereby declared and made capable in law to sue and be sued, to plead and be impleaded, to have a common seal, and the same to alter Seal. and renew at pleasure, to make rules and by-laws for the regu- By-laws. lation and management of the said corporation, consistent with the laws of the United States and of this commonwealth, and generally to do and execute, for the well being of said company, whatever shall lawfully pertain to such bodies politic: Provided That nothing herein contained shall be considered as in any Proviso. way giving to said company any banking privileges, but they shall be exclusively confined to the operations pertaining to the business aforesaid, according to the true intent and meaning of this act.

SECTION 2. That the said company shall have the right to May purchase or hold, either by purchase or lease, not exceeding three thousand lease lands. acres of land at any one time, exclusive of the quantity of land which may be used as the bed or beds of any roads upon the land of said corporation, the whole to be within the county of

Proviso.

Capital, how to be employed, &c.

Transferable.

When letters pa

Somerset, in the commonwealth of Pennsylvania, and the same, or any part thereof, to sell or otherwise dispose of as the interest of the company may require: Provided, That the said company may hold as above, such lot or lots of land, not exceeding five acres in any one place, as may be found convenient as places of deposit in the transportation and sale of the products of their mines.

SECTION 3. That the capital stock of said company shall be and consist of five hundred thousand dollars, and shall be divided into twenty-five thousand shares of twenty dollars each, which capital stock shall only be employed in the purchasing and holding the lands aforesaid, with the improvements thereon, and in constructing such other improvements, building cars, boats, engines and machinery, as may be necessary or useful for the purposes set forth in section one of this act, and in the payment of such salaries, wages and other expenditures as shall be requisite for the purpose aforesaid of the company, and the said stock shall be assignable and transferable according to such rules as the board of directors shall establish.

SECTION 4. That when the above named Edward H. Stabler, tent may issue. John S. M'Kim, Edward C. Thomas, Ira C. Canfield, George H. Berry and Nicholas L. Wood, and their associates, shall have subscribed the whole number of shares aforesaid, and actually paid and expended not less than fifteen per cent. of the capital aforesaid, in purchasing lands and in such other investments as are authorized by this act, for the use of said company, the governor, on due evidence thereof, shall, by letters patent, under his hand and the seal of the state, create and erect the said Edward H. Stabler, John S. M'Kim, Edward C. Thomas, Ira C. Canfield, George H. Berry and Nicholas L. Wood, their associates, successors and assigns, into one body corporate, by the name, style and title of the Somerset iron and coal company of Pennsylvania.

Management.

tors.

Notice of.

SECTION 5. That the affairs of said company shall be managed by seven directors, to be chosen annually from the stockholders. Election of direc- The first election shall be held in the town of Wellersburg, county of Somerset, within sixty days after letters patent afore. said shall have been issued, of which election public notice shall be given by four or more of the corporators named in the first section of this act, at least two weeks prior thereto, in one or more newspapers printed in the county of Somerset, one newspaper printed in the city of Philadelphia, and one newspaper printed in the city of Baltimore; and the subsequent elections shall be held annually, at such convenient time and place as the directors shall determine, of which thirty days previous notice shall, in like manner, be given by the president of said company, or by any of the directors: Provided, That in the event of a failure to hold such election, the former directors may continue in office until such election shall be held.

Proviso.

Votes.

SECTION 6. That the election for directors shall be held by ballot, and each stockholder shall be entitled to vote according to the number of shares held by said stockholder, in the proportion following, that is to say: For each share, and not exceeding four shares, one vote; for every two shares above four, and not exceeding ten, one vote; for every four shares above

ten, and not exceeding thirty, one vote; for every ten shares above thirty, and not exceeding one hundred, one vote; for every twenty shares above one hundred, one vote.

No share

shall confer a right of voting which shall not have been trans

ferred at least three calendar months prior to the day of elec- Transfers, relation, nor unless it be bona fide held or owned by the person in tive to. whose name it appears, in his own right or in that of his wife, or for his or her sole use and benefit, or as executor or administrator, trustee or guardian, or in the right or for the use and benefit of some co-partnership, society or corporation of which he or she may be a member; and all votes by proxy shall be on Proxies. such terms and conditions as are prescribed by the act passed on the twenty-eighth day of March, one thousand eight hundred and twenty, entitled "An Act to regulate proxies."

SECTION 7. That the directors shall, as soon as convenient Officers and after their election, choose one of their number as president, agents. for one year; they shall also have power to appoint, as occasion may require, all other officers and agents of the company,

and to supply vacancies in the board arising from death, resig- Vacancies. nation or otherwise, until the next annual election. At all meet

ings of the board, four directors shall form a quorum to trans- Quorum. act business.

upon thirty days

non-payment.

SECTION 8. That the directors may, from time to time, call in, Directors may on thirty days notice thereof in at least one newspaper printed call instalments in the county of Somerset, one newspaper printed in the city notice. of Philadelphia, and one newspaper printed in the city of Bal timore, as aforesaid, such instalments on the stock of such company as they may judge best, not exceeding twenty per centum Limitation of. thereof, at any one time and place appointed; and if any instalment of the stock so called in shall remain unpaid for the space of thirty days after the time so appointed, every such stockholder, or his or her assignee, shall, in addition to the Penalties for instalment so called for, pay at the rate of two per centum per month for the delay of such payment; and if the same, and additional penalty, shall remain unpaid for such space of time as that the accumulated penalty shall become equal to the sums before paid in part and on account of such shares, the same shall be forfeited to the said company, and may be sold to any person or persons willing to purchase, for such prices as can be obtained for the same; or in default of payment, by any stockholder, of any such instalment as aforesaid, the president and directors may, at their election, cause suit to be brought before an alderman or justice of the peace, or in any court having competent jurisdiction, for the recovery of the same, together with the penalty aforesaid; and no stockholder, whether an original subscriber or assignee, shall be entitled to vote at any election, or at any general or special meeting of the said company, on whose share or shares any instalments or arrearages may be due and payable more than thirty days previously to the said election or meeting.

on agents or

SECTION 9. That any legal process served on any agent or Legal process manager of said company, is hereby declared to be, to all in- may be served tents and purposes, as valid as the same would have been if managers. served on the president and directors thereof.

To continue in force.

Reservation.

Individual liability.

Bonus.

SECTION 10. That this act shall continue and be in force until the first day of May, in the year of our Lord one thousand eight hundred and eighty-five: Provided, That it shall be lawful for the legislature, at any time, to amend or repeal any of the foregoing provisions, and to rescind the powers hereby granted; in such manner, however, that no injury may be done to the corporators.

SECTION 11. That the stockholders of said company shall be jointly and severally liable, in their individual capacities, for all debts due mechanics, workmen and laborers employed by, and materials furnished to, said company, to be sued for and collected as provided in the twelfth, thirteenth and fourteenth sections of an act incorporating the Lackawanna iron and coal company, approved the fifth of April, Anno Domini one thousand eight hundred and fifty-three.

SECTION 12. That the said company shall pay a bonus of onehalf of one per centum on the capital stock of said company, and upon any increase thereof, payable in four equal annual instalments, the first payment to be made in one year from the Taxes upon divi- date hereof; and said corporation shall also pay such taxes upon dividends as are or may be provided by law.

dends.

I do certify that the bill, entitled "An Act to incorporate the Somerset iron and coal company of Pennsylvania," passed the House of Representatives on the nineteenth day of March, A. D. one thousand eight hundred and sixty, which has been disapproved by the governor, and returned by the governor with. his objections to the Senate, in which it originated, was agreed to by two-thirds of the House of Representatives on the twentyfourth day of March, A. D. one thousand eight hundred and sixty, and that the foregoing is the said act so agreed to by the said House.

JOHN M. THOMPSON,
Speaker of the House of Representatives pro tem.

Attest:-E. H. RAUCH,

Clerk of the House of Representatives.

I do certify that the bill, entitled "An Act to incorporate the Somerset iron and coal company of Pennsylvania," passed the Senate on the eighth day of March, A. D. one thousand eight hundred and sixty, which has been disapproved by the governor, and returned with his objections to the Senate, in which it originated, was agreed to by two-thirds of the Senate, agreeably to the constitution, on the twenty-third day of March, A. D. one thousand eight hundred and sixty, and that the foregoing is the act so agreed to by the Senate.

WM. M. FRANCIS,
Speaker of the Senate.

Attest:-RUSSELL ERRETT,

Clerk of the Senate.