No. 422. AN ACT Relative to the Claim of Shem Thomas. 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 the auditor general and state treasurer be and they are hereby authorized to examine the claim of Shein Thomas, for the loss of the canal boat “ Wild Indian,” and report if any amount is due said Thomas, together with the facts, to the legislature. JOHN M. THOMPSON, Speaker of the House of Representatives pro tem. WM. M. FRANCIS, Speaker of the Senate. APPROVED—The second day of April, Anno Domini one thousand eight hundred and sixty. WM. F. PACKER. No. 423. A SUPPLEMENT To the act to incorporate the Eastern Market Company 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 with a view to retire and liquidate the floating debt of the Eastern market company of the city of Philadelphia, the president and directors thereof are hereby authorized and empowered to issue preferred stock of the said company, to an amount not ex: ceeding sixty thousand dollars; and the certificates for such stock to be issued, shall stipulate that the holder thereof is entitled to receive a dividend of seven per cent. per annum from the profits of the said corporation, before any dividend is declared on the original or common stock; or it shall be lawful for president and directors of the said company, at their option, to create the stock aforesaid, bearing an interest of seven per cent. per annum: Provided also, That any irregularity in the original organization of the said company, by the commissioners named in a the act of incorporation, or the omission of any subscriber to JOHN M. THOMPSON, 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. 424. AN ACT Extending the charter of the Pennsylvania Salt Manufacturing Company, under the provisions of the general manufacturing law of seventh April, one thousand eight hundred and forty-nine. 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 tern of incorporation of the Pennsylvania Salt manufactur- Term of incoring company, incorporated under the provisions of the gen- poration ox tended. eral manufacturing law of seventh April, one thousand eight hundred and forty-nine, be and the same is hereby continued and extended for the term of twenty years, from and after the twenty-fifth day of September, Anno Domini one thousand eight hundred and sixty; and that the said corporation shall, during the said term of twenty years, continue to be subject to the pro- Subjoot to. visions of the original act of assembly of this commonwealth, passed on the seventh day of April, one thousand eight hundred and forty-nine, to encourage manufacturing operations in this commonwealth, as the same was in force at the date of the original incorporation of said company, in like manner as if they had been originally incorporated for the term of thirty years; and that the business of said company shall be the manufactur- Business of the ing and vending of salt, and other articles resulting therefrom, company. or used in the manufacture thereof, or resulting from the products of the manufacture of such articles. Section 2. That the said company are hereby authorized, with Authorized to the consent of the holders of not less than two-thirds of all the borrow money. shares of stock of said corporation, signified either by a resolution, passed at a special meeting called for that purpose, in the manner provided in the nineteenth section of said act of seventh April, one thousand eight hundred and forty-nine, or by request, in writing, to the directors of said company, under the hands and seal of the holders of at least two-thirds of the whole number of shares of the stock of said company, to borrow on loan, for the prosecution of their legitimate business, any sum or sums of money not exceeding the amount of capital stock actually To issue bonds paid in, and to issue bonds of the said company therefor, in and execute amounts of not less than one hundred dollars each, payable at mortgages. some fixed time during the term for which said company is incorporated, with interest coupons attached, at a rate of interest not exceeding seven per centum per annum; and for securing the payment thereof, to execute a mortgage or mortgages of all or any part of their real estate and franchises, under the seal of the corporation, and signed and acknowledged by the president or Proviso. otherchief officer thereof : Provided, That any holder of any such bond or bonds, may at his election at any time convert the same into the capital stock of said company at the par value thereof, by giving notice to the treasurer of said company and surrendering such bond or bonds; and such increase of stock, by the conversion of any such bond or bonds into stock from time to time, shall not require a meeting of the stockholders, nor any such proceedings as are required or provided for by the nineteenth and twentieth sections of the act of seventh April, one thousand Proviso. eight hundred and forty-nine, herein before referred to: Provided, That the capital stock of said company shall not be increased to an amount exceeding four hundred thousand dollars: And Proviso. provided, That the amount of outstanding bonds, at any time issued by said company, shall in no case exceed the amount of capital stock of said company actually paid in. When this act to Section 3. That this act shall go into effect so soon as the go into effect. stockholders of said company shall, by a vote of two-thirds in number of shares of said stock, at a special meeting to be called for that purpose, in the manner provided in the nineteenth seco tion of the said recited act of seventh April, one thousand eight hundred and forty-nine, accept of the provisions of this act: Proviso. Provided, 'That the president and secretary of said company shall, within thirty days thereafter, file in the office of the secretary of the commonwealth, a copy of such resolution of acceptance, with the number of votes cast for and against the acceptance thereof, and a statement of the names of the stockholders of said company, the number of shares held by each, and the amount of the capital stock of said company, under the oath or affirmation of the president and secretary. Letters patent, Section 4. That it shall be lawful for the governor of this when to be is. commonweath, whenever the statement required by the preced ing section of this act shall have been duly executed and filed in the office of the secretary of the commonwealth, as herein before provided, to issue letters patent under the great seal of the commonwealth, declaring the holders of the stock of said company, and also those who may hereafter become subscribers or holders of said stock, to be a body politic in deed and in law, Subject to. under the provisions of the act of the seventh day of April, one thousand eight hundred and forty-nine, entitled “An Act to sued. encourage manufacturing operations in this commonwealth,” JOHN M. THOMPSON, WM. M. FRANCIS, Speaker of the Senate. APPROVED— The seventh day of March, Anno Domini one thousand eight hundred and sixty. WM. F. PACKER. No. 425. AN ACT To incorporate the American Steam Plow Manufacturing Company of Lan caster county. 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 Joseph W. Fawkes, Joseph C. Dickenson, their associates, suc- Corporators. cessors and assigns, and such other persons as shall become shareholders, he and they are hereby constituted and created a body politic and corporate, in deed and law, by the name, style and title of the American Steam Plow manufacturing company Style. of Lancaster county, with a capital of one hundred thousand Capital. dollars, to be divided into shares of one thousand dollars each. SECTION 2. That the affairs of said company shall be managed Management. by a board of not less than three nor more than five directors, one of whom shall be president, and shall be chosen by the directors; the election of directors shall be held annually, at such Election of directime and place as the company may determine, of which public tors. notice shall be given ; all elections shall be by ballot, and every Public notice of share of stock subscribed and paid in, shall entitle the holder to to be given. one vote, in person or by proxy; a majority of the board of Votos. directors shall constitute a quorum for the transaction of busi. ness, and shall hold their offices until their successors shall have been elected; and in case of the death or resignation of any of the directors, or a vacancy occurring in the board from any other Vacancies, how cause, the remaining directors may elect a person to fill such filled. vacancy, to serve until the next annual election. SECTION 3. That the said corporation shall have authority to seal. hold and use a common seal, and the same to change, alter and amend at pleasure; and by the name, style and title aforesaid, Powers. shall be able and capable in law to sue and be sued, plead and be impleaded, in any court of this commonwealth or elsewhere, may make all needful rules, regulations and by-laws for the management and business of the corporation. Objects. Section 4. That the said corporation shall have the right to purchase, acquire, hold, manufacture, use, sell or dispose of steam plows, and to hold and convey such real estate and personal property as may be necessary to promote the objects of the cor. Proviso. poration : Provided, That the real estate shall not exceed fifty thousand dollars. Transfer of stock. Section 5. That the stock of said company may be transferred agreeably to the by-laws which may be adopted by the corpora. tion, and that dividends may be declared and paid whenever it may be deemed expedient by the directors; but if the directors Dividends. shall make a dividend of more than the actual net profits ac quired by the corporation, the directors consenting thereto shall severally be liable to the corporation, in their individual capa city, for the excess so divided and paid. Banus. Section 6. That the said corporation shall pay to the state treasurer, for the use of the commonwealth, a bonus of one-half of one per centum on the capital stock of said company, payable in four equal annual instalments, the first whereof shall be due in one year after the organization of the company, and shall pay such tax on dividends as is or may be required by law. Individual lia. Section 7. That the stockholders of the said company be and bility. they are hereby declared to be individually liable for all debts due mechanics, workmen and laborers employed by, and for materials furnished for the construction and machinery of said company, to be sued for and collected as is provided in the twelfth, thirteenth and fourteenth sections of an act incorporating the Lackawanna iron and coal company, approved April fifth, Anno Domini one thousand eight hundred and fifty-three. JOHN M. THOMPSON, Speaker of the House of Representatives pro tem. WM. M. FRANCIS, Speaker of the Senate. I do certify that the bill, entitled “An Act to incorporate the American Steam Plow manufacturing company of Lancaster county,” passed the Senate on the twenty-fourth day of January, Anno Domini 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 Senate, agreeable to the constitution, on the fourteenth day of March, Anno Domini one thousand eight hundred and sixty, and that the foregoing is the act 80 agreed to by the Senate. WM. M. FRANCIS, Speaker of the Senate. Attest: RUSSELL ERRETT, Clerk of the Senate. I do certify that the bill, entitled " An Act to incorporate the American Steam Plow manufacturing company of Lancaster county," passed the House of Representatives on the fourteenth day of February, one thousand eight hundred and sixty, which has been disapproved by the governor, and returned by the gov. ernor, with his objections, to the Senate, in which it originated, was agreed to by two-thirds of the House of Representatives, |