2 section number one of McComb's purchase and the Indian reservation at the village of St. Regis, shall be and is hereby erected into a separate town, by the name of Constable; and that the first town meeting, in the said town of Constable, shall be held at the dwelling house where James Seaton now resides in the said town; and that all the remaining part of the said town of Harison, shall be and remain a separate town, by the name of Harison; and the town meeting shall be held where it was last adjourned to. 11. And be it further enacted, That as soon as may be after the first Tuesday in April next, the supervisors and overseers of the poor of the said towns, upon notice previously to be given by the said supervisors, for that purpose, shall meet, and divide the poor and money belonging to the said town of Harison previous to the division thereof, agreeably to the last tax list; and that each of the said towns shall for ever thereafter respectively support their own poor, AN ACT for the Relief of Nicholas Quackenbush and John Quack WH enbush. Passed March 13, 1807. HEREAS it appears to this legislature, that Nicholas Quackenbush and John Quackenbush, respectively, purchased from the late commissioners of forfeitures for the southern district, two lots of land lying in the city of New-York, then supposed to have become forfeited by the conviction and attainder of William Axtell; and whereas it has since been discovered, that the said William Axtell, at the time of his conviction and attainder aforesaid, had no title, interest or property in or to the said lots of land, and that the proprietors thereof have brought suits and obtain. ed recoveries therein against the said Nicholas Quackenbush and John Quackenbush for the said lots. Therefore, BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That it shall and may be lawful for the treasurer of this state, and he is hereby directed and required, on the warrant of the comptroller, to pay to the said Nicholas Quackenbush and John Quackenbush the consideration money expressed in the respective deeds from the said commissioners of forfeitures to the said Nicholas Quackenbush and John Quackenbush for the said lots, and the interest thereof from the dates of the said deeds: Provided, That the said Nicholas and John shall, at the same time, execute a release to the people of this state of all claims which they have or may have in consequence of the proceedings aforesaid. CHA P. XXXVII. CONTENTS. 16. Company incorporated till May 1818—17. Name—18. Privileges. 24. .... .... Estate, real, which they may hold-23. May not deal in merchandize, &c. 33. Act declared public and to be favourably construed. 21. Bank, where to be established. 21. 26. Bills under seal of the corporation, assignable by indorsement. 29. Charter not forfeited for non-user before Ist May 1808. 2. Commissioners named, to receive subscriptions-3, 4, 5. Further duty. 23. Debts, amount which the corporation may at any time owe. 6. Directors, thirteen to be chosen-7. Ten of whom where to reside. 5. ...... 20. Books and deposit money to be delivered to them. Bye-laws, authorized to make-23. When liable in their private capacities. 30. Dividends to be half yearly made. 8. Election, first-see ch. 166–9. Anniversary, ib.-10. Notice-11. How conducted. Not confined to the anniversary day. 15. ...... 32. Interest, rate of, not to exceed 6 per cent. 12. President, how chosen. 1. Shares, value and number. 19 .... If not taken up on first subscription, books to be kept open by the directors. 22. State may subscribe 500 shares. 13. Vacancies in the office of directors, how occasioned-14. How supplied. AN ACT to incorporate the Stockholders of the Mohawk Bank, in the City of Schenectady. BE Passed March 13, 1807. 1. E it enacted by the People of the State of New-York, represented in Senate and Assembly, That a share in the said bank shall be ten dollars, and the number of shares shall not exceed twenty thousand, exclusive of any shares that may be subscribed on the part of the state, and that James Constable, Henry Yates, jun. Lewis 2 Farquharson, Gerret S. Veeder, Moses Beal and David Boyd, are hereby appointed commissioners, any three of whom to constitute a board, for the purpose of opening books on the first Monday in June next, at some proper place in the city of Schenectady, and that the same be kept open for three days successively, in which all persons inclining to associate for the purpose of establishing a bank in the said city, shall subscribe such number of shares as they respectively wish, depositing at the same time, with the said commissioners, the sum of two and an half per cent on the amount of each share, by them so subscribed; and if the number of shares so subscribed shall exceed twenty thousand, the said commissioners shall apportion the excess among the several subscribers as they shall judge most equitable; and the said commissioners shall be inspectors of the first election of directors, and shall certify under their hands, the names of those duly elected, and deliver over to them, or to their order, the subscription books, together with the deposit money on the stock so subscribed. 3 4 5 II. And be it further enacted, That the stock, property, affairs 6 and concerns of the said corporation shall be managed and conduct ed by thirteen directors, who shall hold their offices for one year, and which directors shall be stockholders and citizens of this state, 7 and at least ten of their number actual residents within the first and second wards of the city of Schenectady, one of which ten shall be 8 chosen president; and that the first election of directors shall be held in the city of Schenectady, on the second Tuesday of June next, at the house now occupied by James Rogers, or such other place, as a majority of the stockholders then assembled, shall ap 9 point; and each succeeding election of directors shall be held annually thereafter, on the second Tuesday of June, at such time and place, within the first or second wards of the city of Schenectady, as a majority of directors for the time being, (who shall upon all occasions constitute a board for the transaction of business) shall 10 appoint, notice whereof shall be given by the said directors, in one or more newspapers printed in the cities of Schenectady or Albany, at least thirty days previous to the day of holding said election; 11 and the said election shall be held and made by such of the stockholders of the said bank, as shall attend for that purpose, either in person or by proxy, which proxies shall always be stockholders; and all elections shall be by ballot, and the thirteen persons who shall have the greatest number of votes, residing as aforesaid, shall be directors; and if it should happen at any election that two or more persons have an equal number of votes, then the said directors in office at the time of such election, or a majority of them, shall proceed to ballot, and by plurality of votes, determine which of the said persons, so having an equal number of votes, shall be the director or.directors, so as to complete the whole number of thirteen ; 12 and the said directors chosen at such election, as soon as may be thereafter, shall proceed in like manner to elect by ballot, one of 13 their number, residing as aforesaid, to be their president; and if any of the directors, resident in the first and second wards of the city of Schenectady, shall remove out of the same, or any other of the directors shall remove out of the state, the office of such direc14 tor shall be considered as vacant; and whenever any vacancy or vacancies shall happen among the directors, by death, resignation or removal, such vacancy or vacancies shall be filled for the remainder of the year, in which they shall happen, by such person or per sons as the rest of the directors, for the time being, or a majority of them, shall appoint. 15 16 III. And be it further enacted, That in case it should at any timehappen that an election of directors should not be made on any day, when pursuant to this act it ought to have been done, the said cor». poration shall not for that cause be deemed to be dissolved, but that it shall and may be lawful, on any other day, to hold and make an election of directors, in such manner as shall have been regulated by the laws and ordinances of the said corporation. IV. And be it further enacted, That all persons, by virtue of this act becoming stockholders of said bank, be and they are hereby or dained, constituted and declared to be from time to time, until the first Tuesday of May, which will be in the year of our Lord one thousand eight hundred and eighteen, a body politic and corporate, 17 in fact and in name, by the name of the "President, directors and company of the Mohawk bank," and that by that name, they and their successors, until the said first Tuesday in May, in the year of our Lord one thousand eight hundred and eighteen, shall and may have continual succession, and shall be persons in law capable of 18 suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in all courts and places whatsoever, and in all manner of actions, suits, complaints and causes whatsoever; and that they and their successors may have a common seal, and may change and alter the same at their pleasure; and also, that they and their successors, by the same name of the president, directors and company of the Mohawk bank, shall be in law capable of purchasing, holding and conveying any estate, real or personal, for the use of the said corporation. V. And be it further enacted, That in case the said number of 19 twenty thousand shares should not be subscribed on the books, directed by this act to be opened by the commissioners as aforesaid, subscriptions shall be kept open under the direction of the president and directors of the said bank, at such times and places as they shall think proper, until the said number of shares be subscribed. VI. And be it further enacted, That the directors, for the time 20 being, or a major part of them, shall have power to make and prescribe such bye-laws, rules and regulations as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate and effects of the said corporation; the duties and conduct of the officers, clerks, and servants employed therein; the election of directors, and all such other matters, as appertain to the business of a bank; and shall also have power to appoint so many officers, clerks and servants for carrying on the said business, and with such salaries and allowances as to them shall seem meet: Provided, That such bye-laws, rules and regulations be not repugnant to the constitution and laws of the United States, or of this state. VII. And be it further enacted, That the said bank shall be es- 21 tablished and kept, and the business thereof, at all times after the organization of the same, transacted at such place, within the first or second wards of the city of Schenectady, as the president and directors may deem proper. VIII. And be it further enacted, That this state shall have a right 22 to subscribe any number of shares to the said bank, not exceeding in the whole, the number of five hundred, at any time when they shall by law authorize any person or persons for that purpose; and the state shall have a right to increase the number of shares and stock which the said corporation may hold, to the amount of the sum to be subscribed, if the number of shares herein before limited, shall be subscribed before such subscription shall take place on the part of the state. IX. And be it further enacted, That the total amount of debts, 23 which the said corporation shall at any time owe, whether by bond, bill, note or other contract, over and above the specie then actually deposited in the bank, shall not exceed three times the sum of the capital stock subscribed and actually paid into said bank; and in case of such excess, the directors under whose administration it shall happen, shall be liable for the same, in their separate and private capacities, but this shall not be construed to exempt the said corporation or any estate real or personal which they may hold as a body corporate from being also liable for and chargeable with such excess, but such of the directors, who have been absent when the said excess was contracted, or who may have dissented from the resolution or act, whereby the same was so contracted, shall not be so liable. 24 X. And be it further enacted, That the lands, tenements and he reditaments which it shall be lawful for the said corporation to hold, shall be only such as shall be requisite for its immediate accommodation, in relation to the convenient transacting of its business, or such as shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in the course of its dealings, or purchased at sales upon judgments 25 which shall have been obtained for such debts; and further, the said corporation shall not directly or indirectly deal or trade in buying or selling any goods, wares, merchandizes or commodities whatsoever, or in buying or selling any stock created under any act of the United States or any particular state, unless in selling the same, when truly pledged by way of security, for debts due to the said corporation. 26 XI. And be it further enacted, That the bills obligatory and of credit under the seal of the said corporation, which shall be made to any person or persons, shall be assignable by indorsement thereupon, under the hand or hands of such person or persons, his, her or their assignee or assignees, and so as absolutely to tranfer and vest the property thereof in each or every assignee or assignees respectively, and to enable such assignee or assignees to bring and maintain an action thereupon, in his, her or their own name or 27 names; and bills or notes which may be issued by order of the said corporation, promising the payment to any person or persons, his, her or their order, or to bearer, though not under the seal of the said corporation, shall be binding or obligatory upon the same, in like manner, and with like force and effect, as upon any private person or persons if issued by him, her or them, in his, her or their private or natural capacity or capacities, and shall be assignable and negotiable in like manner as if they were so issued by such private person or persons. 28 29 XII. And be it further enacted, That it shall be lawful for the directors, for the time being, to call and demand from the stockholders respectively, all such sums of money, by them subscribed, or to be subscribed, at such times and in such proportions as they shall see fit, under pain of forfeiture of their shares and of all prerious payments thereon, to the said company, always however giving thirty days previous notice of such call and demand, in one of the newspapers to be published as aforesaid. XIII. And be it further enacted, That this present act of incorporation shall in no wise be forfeited by any non-user whatsoever, at |