Corporators.

Style.

Powers.

Seal.

Misnomer.

Proviso.

Business.

Deposits.

Investments.

Interest.

Proviso.

Notice to be

given by deposi

tors.

No. 713.

AN ACT

To incorporate the Dimes Saving Institution of Allentown, in Leligh

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 Jacob Muschlitz, Henry B. Hottle, William H. Ainey, E. Moss, W. W. Hamersly, W. J. Romig, W. H. Newhard, William H. Seip, Samuel M'Hose, C. S. Massey, S. P. Bliss and Abraham Keiper, and their successors, be and they are hereby made and created a corporation and body politic, by the name and style of the Dimes saving institution of Allentown, and by that name shall have perpetual succession, and by law be capable to hold and dispose of property, to sue and be sued, plead and be impleaded, answer and defend in courts of law or equity, or in any other place whatsoever; and to make, have and use a com mon seal, and the same to alter and renew at pleasure, and generally to do every act and thing necessary to carry into effect the provisions of this enactment, and promote the object and de sign of this act of incorporation; to be located in the borough of Allentown, and county of Lehigh: Provided, That a mis nomer of the said corporation in any instrument shall not vitiate the same, if the intent of the parties can be clearly ascertained: And provided further, That nothing in this act contained shall be so construed as to confer upon the said corporation banking privileges, or so as to exempt the same from the operation of the laws of this commonwealth prohibiting the issuing of bank notes or engagements of credit in the nature thereof.

SECTION 2. That the business of the said corporation shall be to receive on deposit, from time to time, such sums of money, not less than ten cents, as may be offered by tradesmen, clerks, mechanics, laborers, servants, minors, married women and others, and to invest the same in the stocks of this commonwealth or of the United States, or in stocks and bonds of any city, author ised to be issued by any act of the legislature of this common. wealth, or in other stocks, or in bonds and mortgages, and other approved and valid securities; the said corporation shall receive all sums of current money that may be offered as aforesaid, and shall invest the same in the manner aforesaid as soon as praeticable; they shall allow to the depositors interest upon the deposits, to be regulated by the trustees as hereinafter provided; and they shall pay the amounts deposited, with the interest thereon, or any part thereof, not less than ten cents, to the depositors, at the place of business of the said corporation, at any time during business hours, on demand: Provided however, That not more than twenty-five dollars shall be required to be paid to any one depositor, upon any one day, unless a written notice of the sum intended to be demanded, shall have been

given at least ten judicial days before the time when such payment is desired to be made.

SECTION 3. That the real estate which it shall be lawful for What real estate the said corporation to hold, shall be only such as is requisite may be held by for the accommodation and convenient transaction of their busi- corporation. ness, and such as they may find necessary to purchase, either at judicial sales or otherwise, to secure debts due to them.

tees.

SECTION 4. That the persons named in the first section of Election of truethis act, or any nine of them, shall elect by ballot, nine persons, either from among those named in this bill, or others, to be the first trustees of the said corporation; no person to be considered elected unless he shall have received the affirmative vote of at least five of the said corporators; that vacancies, by death, resignation, or otherwise, shall be filled by the board of Vacancies. trustees, as soon as practicable, by an affirmative vote of at least five of their number, at any election held by ballot; that

the said trustees shall elect from among themselves a president Officers. and vice president, and shall appoint such other officers as they

of securities or

row or use funds, except as herein

may deem necessary; that six of the said trustees shall form Quorum. a quorum, and that the affirmative vote of at least five, shall be requisite to authorize the sale or transfer of securities, or the Five votes necesappointment of any officer receiving compensation; that the sary for transfer president, vice president, or any trustee, or any officer or ser- appointments. vant of the said corporation, shall not directly or indirectly Trustees or offi borrow the funds of the said corporation, nor any part thereof, cers not to bornor use the same, nor any part thereof, in any other manner than that hereinbefore provided, except for the payment of the provided. necessary expenses, under the direction of the board of trustees; that the said trustees shall meet regularly at least once Meetings of trusa month; and that any trustee omitting to attend the said regular meetings for six successive months, may, by a vote of the board, be declared to have vacated his office; that the said By-laws. trustees shall have power to enact by-laws.

tees.

SECTION 5. That the trustees shall regulate the rate of interest Rate of interest upon the deposits, and publish the same annually; that interest to be regulated and published. shall not be allowed to any depositor until his deposit amounts to two dollars; the interest to be calculated by calendar months How calculated. only, and no interest to be allowed for the fraction of a month;

that deposits made by minors or married women, may be re- Deposits made paid to them, and their receipts shall discharge the said corpo. by minors, &c. ration from any further claims for the sums so re-paid.

tors.

SECTION 6. That for the security of the depositors of the said Capital to be institution, it shall be the duty of the persons named in the formed for sefirst section, and such others as may become members of the curity of deposi institution previous to the granting letters of incorporation, to raise and form a capital of not less than five, nor more than fifty thousand dollars, in shares of twenty dollars each; which capital shall at all times be liable to the depositors, for the amount of their deposits and the interest accruing thereon; the

shares to be transferable on the books of the institution, in such Shares transferamanner as may be designated by the by-laws of said institution. ble.

SECTION 7. That it shall be the duty of the trustees, in the Trustees to make month of January in each year, to report to the legislature the report to legisla aggregate amount of deposits on hand, with the interest which has accrued thereon, and as often as they may deem proper,

ture.

Dividends.

make and declare a dividend of the interests and profits of said corporation, after paying its expenses and reserving a fund for contingencies, and the same pay over to the shareholders or their legal representatives, within ten days thereafter, and to Exhibit of affairs make a full exhibit of the affairs of said institution, according to the acts of the general assembly in such case made and provided.

Officers and agents to give security. Expenses of er tificates, record ing papers, &c., to be paid by borrower.

SECTION 8. That the officers and agents of the said corporation shall give such security for their fidelity and good conduct, as the board of trustees may require; that in all cases of loans upon real estate, the expenses of searches, examinations and certificates, and recording papers, shall be paid by the bor rower; that the books of the said corporation shall at all times, during business hours, be open for the inspection and examinaBooks to be open tion of such person or persons as the legislature shall desig for inspection. nate or appoint as agents for that purpose; that the said Subject to super corporation shall be subject to the supervision and control of vision, &c. the court of common pleas of the county of Lehigh and the supreme court of Pennsylvania, according to the provisions of the constitution of this commonwealth, and the several acts of assembly conferring equity jurisdiction upon the said courts. SECTION 9. That each and every person upon entering upon the discharge of the duties of trustee, in pursuance of this act, shall be required to execute a bond to the commonwealth of Pennsylvania, in such amount as the court of common pleas of Lehigh county shall fix, to be filed with the prothonotary of said court, and conditioned for the faithful keeping and appro priation of all such sums of money as shall be placed in charge of said Dimes saving institution, whether as deposits or shares of stock: Provided, That said court of common pleas may, at any time, require the amount executed of said bond to be enlarged.

Trustees to give bond.

Amount fixed by court and bond

filed.

Proviso.

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

Speaker of the Senate.

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

WM. F. PACKER.

No. 714.

AN ACT

To incorporate the Harrisburg Market 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

David Mumma, junior, William Colder, junior, J. J. Clyde, A. Corporators. O. Heister, Isaac Mumma, Jacob D. Hoffman, Jacob Ziegler, John J. Shoemaker, Alexander Koser, and all persons who may now or hereafter be holders of the stock hereinafter mentioned, shall be and they are hereby declared to be constituted a body politic or corporate, by the style of the Harrisburg market com- Style. pany, to have perpetual succession, to be capable in law of suing and being sued, to have a common seal, and the same to SeaL alter and renew at pleasure, and to have and to hold, receive,. enjoy and take, in fee simple or upon ground rent, such real or Powers. also such personal estate as may by them be deemed necessary and proper for the ownership, and for the construction, and for Authorized to the proper use and management and maintenance of one or construct market more market houses in the borough of Harrisburg, and for the accommodation and use of any parties who may be desirous of renting and occupying the same, with full power to sell, mortgage, create the necessary ground rent deeds, or convey the said real or personal estate.

house.

SECTION 2. That the object and purpose of said corporation Object and privishall be to erect and maintain suitable building or buildings, leges. and stalls, with all other things necessary for the use thereof, at any place within the limits of the borough of Harrisburg, the same to be appropriated and used as a public market house or houses, for the sale and vending of meats and vegetables, and all other kinds of victuals and provisions whatever, and such other articles as the board of managers may deem proper in the said market building or buildings; the stalls, or any one or more, or all of the same, to be leased, rented or disposed of in such manner, and upon such terms and conditions, as the managers shall determine.

SECTION 3. That the capital stock of said corporation shall Capital stock. not exceed one hundred thousand dollars, divided into two

thousand shares of fifty dollars each, and shall be in such form, How issued and and be issued and transferred in accordance with such by-laws transferred. as the said managers may establish.

and powers.

SECTION 4. That the government and control of the Harris- Board of manaburg market company, and the management of its property, gers, their duties shall be vested in, and the corporate powers of said company shall be exercised by, a board of nine managers, who shall be elected, by ballot, from among the stockholders; they shall continue in office until their successors be elected; they shall elect a president, secretary and treasurer, from among themselves, Officers. shall supply all vacancies in their number, however occasioned, Vacancies. and shall have general and entire control of the affairs and interests of the company, and that until other officers be duly elected, the persons named in the first section of this act shall Present manabe held to be managers of the said corporation, and shall have gers. power and authority as such.

SECTION 5. That a general meeting of stockholders shall be Annual meeting held annually, on the second Monday of January, for the elec- of stockholders. tion of nine managers and the transaction of other business; but if such meeting or election shall not then take place, the corporation shall not, for that cause, be dissolved, but such meeting or election shall take place as soon thereafter as may be, one week's public notice of such meeting being first given.

Notice to be in one weekly newspaper published in the borough of Harris given. burg; and special meetings of the corporation shall be called Special meetings and held as may be provided by the by-laws thereof; and that in the enactment of by-laws for the government of the corporation and its officers, and in the election of officers and the decision of all questions, and at all the meetings of the corporation, the stockholders present, either in person or by proxy, shall severally be entitled to one vote for each share of stock held by them: Provided, That the privileges of this act shall not extend beyond the period of thirty years, unless otherwise granted by the legislature of this commonwealth.

Votes.

Limitation.

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

WM. F. PACKER.

Corporators.

Name.

Seal.

No. 715.

AN ACT

To incorporate the Old Guard of the city of Philadelphia.

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 Peter C. Ellmaker, J. D. Keyser, Joseph Mort, Jacob Louden. slager, William W. Wagner, J. William Hoffman, Benjamin Ripperger, William H. Kern, Jacob Bennett, Thomas P. Parry, George W. Wood, Alexander Murphy, C. Ross Smith, Andrew M. Martin, Thomas Kirkpatrick, William Troth, James G. Hardie, Charles P. Warner, George P. M'Reding, William H. Yeaton, George L. Senat, Thomas L. Tripler, John G. Murphy, M. D., and their associates, who are now members of the Old Guard, a charitable association auxiliary to the Artillery Corps of Washington Grays, of the city of Philadelphia, and all others who shall hereafter become members of the same, shall be and are hereby erected and declared to be a body politie and corporate, by the name, style and title of the Old Guard of the city of Philadelphia, and by the same shall have perpetual succession, and shall be able to sue and be sued, implead and be impleaded, in all courts of record and elsewhere; and the said association shall and may make and have a common seal, and the same to change, alter and renew at pleasure; and, also, to ordain, establish and put in execution such by-laws, rules and