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CHAP. 28.

AN ACT to incorporate the Albany Exchange company.

Passed February 21, 1837.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

created.

§ 1. John Townsend, Samuel Stevens, George W. Stan- Corporation ton, John Q. Wilson, Friend Humphrey, Archibald McIntyre, Samuel M. Woodruff, and all other persons who now are or shall hereafter become associated with them, are hereby declared to be a body corporate by the name of "The Albany Exchange Company.

stock.

§ 2. The capital stock of the said corporation shall be Capital three hundred thousand dollars, which shall be divided into shares of one hundred dollars each, and shall be deemed to be personal property, and shall be transferable as such; but the said corporation may go into operation as soon as subscriptions to the amount of two hundred thousand dollars shall have been obtained.

§3. The stock, property and affairs of the said corpora- Directors. tion shall be managed by a board of directors, consisting of seven members, as hereinafter provided. All vacancies happening in said board, may be filled by the remaining directors for the remainder of the year for which they were elected.

tors.

4. John Townsend, Samuel Stevens, George W. Stan- First direc ton, John Q. Wilson, Friend Humphrey, Archibald McIntyre and Samuel M. Woodruff shall be the first directors of said corporation, and shall continue in office till the second Monday of January next, and until others shall be chosen in their place; which board of directors shall hereafter be elected in each year, at such time and place in the city of Albany, as the corporation in their by-laws shall appoint; of which election, public notice shall be given in at least one of the daily newspapers printed in said city, at least ten days immediately preceding such election. Such election shall be holden under the inspection of three stockholders, not being directors, to be appointed previous to every election by the board of directors; and such election shall be made by ballot, and by a plurality of the votes of the stockholders or their proxies then present, allowing to each stockholder one vote for every share of stock held by him.

clause.

§ 5. If the said directors shall refuse or neglect to give the Saving notice for the election of directors, as prescribed in the last preceding section, then any five or more stockholders, who shall collectively own three hundred shares of said stock, may give three days notice in one of the daily newspapers printed in said city, that the said election will be held at the

Real estate.

Calls on stockhold

ers.

Sales of real estate.

Loans

Subscribers to stock.

General powers.

Act to take. effect.

Deeds con. firmed.

time and place specified by the said by-laws; and the said stockholders shall have the right to appoint the inspectors.

§ 6. The corporation hereby created may purchase, hold and convey such real estate in the city of Albany as may be necessary for the purpose of erecting a suitable building for the purposes of a public exchange: but the whole amount of such real estate shall not exceed the sum of three hundred thousand dollars.

§ 7. The said directors shall have power to require the stockholders respectively to make payment of all sums of money by them subscribed, at such times and in such proportions as said directors may deem proper, under pain of the forfeiture of the shares upon which such payments are required, and all previous payments thereon,. to the said corporation; and the said directors shall always give ten days' previous notice of such requirement, by publication in at least one of the daily newspapers printed in said city.

§ 8. No sale of any part of the real estate of the said corporation shall at any time be made by the said directors, without the approval of a majority of the stockholders, lawfully assembled at a regular meeting, to be held for that purpose.

§ 9. The said corporation shall have power to borrow money, when necessary for the purposes of erecting said public exchange, and to pledge or mortgage any part of the property of said corporation as security for the payment of the same, and may lease such parts of said building as are not required for a public exchange.

10. The subscribers to the stock of the existing "Albany Exchange Company," shall, on their acceptance of this act, be deemed as subscribers to the capital stock of the corporation hereby created.

§ 11. The said corporation shall possess the powers and be subject to the provisions of the eighteenth chapter of the first part of the Revised Statutes, so far as the same may be applicable, and have not been repealed; and the legislature may at any time alter, modify or repeal this act.

§12. This act shall take effect on the passage thereof.

CHAP. 29.

AN ACT to confirm certain trusts therein mentioned.
Passed February 21, 1837.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

§ 1. The trusts declared in and by two certain deeds or declarations of trust, executed by Richard Varick, William

W. Woolsey, Samuel Boyd, Benjamin Strong, and John Watts jun., the one bearing date on the twenty-eighth day of December, one thousand eight hundred and twenty-one, and recorded in the office of register in and for the city and county of New-York, in Liber 164 of Conveyances, page 115; and the other bearing date on the first day of May, one thousand eight hundred and twenty-nine, and recorded in the said office in Liber 257 of Conveyances, page 226, and relating to certain real estate in the city of New-York, purchased for the benefit of a society or association known by the name of the American Bible Society, are hereby confirmed; and it shall be lawful to execute the same, and to appoint new trustees in the manner in the said deeds mentioned.

§ 2. This act shall take effect immediately on its passage. Act to take

CHAP. 30.

AN ACT amending the Revised Statutes, in relation to insurances made on property in this state against losses by fire in foreign countries, and by individuals and associa tions unauthorized by law.

Passed February 21, 1837.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

§ 1. Section three of title twenty-one of the first part of the Revised Statutes, is hereby so amended as to read as follows:

effect.

Amount to

§3. There shall be paid into the treasury of this state, Amid t on the first day of February in each year, by every person treasury. who shall act as agent for any individuals, or associations of individuals, not incorporated and authorized by the laws of this state, to effect insurances against losses by fire, or against marine losses and risks, although such individuals or associations may be incorporated for that purpose by any other state or country, the sum of two dollars upon the hundred dollars, and at that rate upon the amount of all premiums which, during the year ending on the preceding first day of September, shall have been received by such agent or any other person for him, or shall have been agreed to be paid for any insurance effected or agreed to be effected or procured by him, as such agent, against loss or injury by fire, or against marine losses or risks.

amended.

§ 2. The fourth section of said title and chapter is so far Section amended, as to require the condition of the bond, in said fourth section mentioned, to be for the payment of two

Act to take effect.

Money to

be paid to Indians.

Church or

school house

State.

dollars upon each one hundred dollars, instead of ten dollars as now required by that section.

§ 3. This act shall take effect and be in force immediately after its passage.

CHAP. 31.

AN ACT in relation to a portion of the Orchard Party of
Oneida Indians.

Passed February 23, 1837.

The People of the State of New-York, represented in Senate and Assembly, do enact'as follows:

§ 1. The treasurer shall pay, on the warrant of the comptroller, to William Day, William Cornelius and Henry Jorden, chiefs of the Orchard Party of Oneida Indians, now residing in this state, the sum of thirteen hundred and thirty-six dollars and seventy cents, for the use and benefit of the said Orchard Party of Indians, being a balance due to them on account of one thousand acres of land released to the state by the treaty of February 26, 1834.

§ 2. The governor is authorized to enter into an agreelot to be re. ment with the chiefs named in the first section of this act, leased to the for a release to the state of about one acre of land, reserved by the treaty of 26th February 1834, being the land on which the church or school-house stands; and after the execution of such release, there shall be paid out of the treasury, such sum as may have been obtained for the same on the sale thereof by the state, after deducting therefrom the costs and expenses of such sale.

And to be sold.

Money to be

paid for certain im provements.

Act to take effect.

§3. The commissioners of the land-office are hereby directed to advertise and sell the land referred to in the second section of this act, when the same is released to the state, in the manner prescribed by law for the sale of state lands.

§ 4. There shall be paid to such person as shall produce satisfactory evidence to the comptroller that he is entitled to the same, the sum of one hundred and eighty dollars, being the value of the improvements on the lands reserved by the treaty of February 26, 1834, for Lewis Denny and Elizabeth Doxstader; and the sum paid for such improvements shall be deducted from the sum authorized by this act to be paid to the chiefs of the Orchard Party.

§ 5. This act shall take effect on its final passage.

CHAP. 32.

AN ACT to confirm the official acts of Elijah Phillips, a justice of the peace in and for the county of Oswego.

Passed February 23, 1837.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

firmed.

§ 1. All proceedings which have been had by and before Acts conElijah Phillips, as a justice of the peace of the town of Granby, in the county of Oswego, since the last day of December, one thousand eight hundred and thirty-six, shall be held to be of the same force and validity as if the said Elijah Phillips had taken the oath of office within the time and in manner prescribed by the laws and the constitution of this

state.

and forfei

§2. All the liabilities and forfeitures incurred by the said Liabilities Elijah Phillips for having executed any of the duties and tures remitfunctions of such office of justice of the peace, without ted. taking the oath of office, are hereby-remitted.

§ 3. This act shall not affect any suit or legal proceedings which may have been had or commenced in consequence of the invalidity of any proceedings before the said justice previous to its passage.

§ 4. This act shall take effect on the passage thereof.

CHAP. 33.

AN ACT to amend an act entitled "An act to annex parts of the towns of Richland and New-Haven to the town of Mexico, in the county of Oswego," passed May 9, 1836.

Passed February 23, 1837.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

Act to take effect.

tion amend

§ 1. The first section of said act is hereby amended by First secstriking out the word "New-Haven," in the third line, and ed." inserting the word "Richland;" and by striking out the word "Richland," in the fourth and fifth lines, and inserting the word "New-Haven."

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