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it may be to provide for the maintenance, care or support of poor and indigent persons at public expense, to put up at auction or sale, the keeping, care or maintenance of any such poor or indigent person to the lowest bidder, and every contract which may be entered into for the support, care or maintenance of any such poor or indigent person, in pursuance of, or accordance with, any bid or bids made at any auction or public competition for the support, care or maintenance of any such poor persons, shall be absolutely void.

CHAP 177.

AN ACT to amend an act entitled "An act in relation to the
Trustees of the Seamen's Fund and Retreat in the city of
New-York, passed March 17, 1813.

Passed April 5, 1848. The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

§ 1. The first section of the act entitled "An act in reladesignated. tion to the trustees of the seamen's fund and retreat, in the city of New-York," passed March 17, 1843, is hereby amended so as to read as follows: From and after the passage of this act, the trustees of the seamen's fund and retreat, in the city of New-York," shall consist of the following persons, belonging to the city and county of New-York, or the counties of Kings and Richmond, to wit: the mayor of the said city, the health officer, the president of the seamen's savings bank, the president of the marine society, together with seven other persons appointed by the governor and Senate, four of whom shall be, or shall have been shipmasters. § 2. The said trustees shall annually elect some suitable ted annual person, not a member of said board of trustees, to serve as secretary thereof, who shall perform all the duties that tain to said office, and receive compensation for his services in the manner now provided by law.

Secretary

to be elec

ly.

Repeal.

per

§3. So much of the third section of the act entitled "An act to provide for sick and disabled seamen," passed April 22, 1831, and all other acts and parts of acts inconsistent with this act, are hereby repealed.

§ 4. This act shall take effect immediately.

CHAP. 178.

AN ACT to incorporate the United States Mail Steam Ship

Company.

Passed April 5, 1848, by a two-third vote.

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

created.

§ 1. George Law, Marshall O. Roberts and B. R. McIl- Corporati'n vaine of the city of New-York, and their associates, and all other persons who are now are or hereafter may be holders of the stock hereinafter mentioned, are hereby constituted a body corporate by the name of the "United States Mail Steam Ship Company," and so to remain and continue for the period of twenty-years next ensuing, for the purpose of building, equipping, furnishing, fitting, purchasing, chartering and owning vessels to be propelled solely or partially by the power or aid of steam, or other expansive fluid or motive power; and to be run and propelled in navigating to and from the city of New-York and the city of New Orleans, and in the waters of the Gulf of Mexico, to touch at any intermediate port or place between said cities, or in said waters, and to run between such other ports and places as the government of the United States may direct and for such purpose, all the necessary and incidental power is hereby granted to said corporation, for carrying freight and passengers, for transporting the mail and for all other business of the company, and all contracts may be either verbal, or under the seal of the president and secretary of said company, and with or without the corporate seal.

§2. The capital stock of said corporation shall be one Capital million and five hundred thousand dollars, and is to be divided stock. into shares of one hundred dollars each. The corporation may commence operations when five hundred thousand dollars shall have been subscribed, and the sum of five per cent on the amount of cach share subscribed for, paid in.

to

§3. George Law, Marshall O. Roberts and B. R. McIlvaine Subscripshall be commissioners to receive subscriptions for said capi-tock tal stock, at such times and places in the city of New-York, as they shall appoint, by giving ten days' public notice thereof in one or more newspapers published in the city of NewYork, and if the whole capital stock shall not be subscribed for at the times and places so appointed, other subscriptions may at any time be received, until the whole capital stock shall have been subscribed under such regulations as the board of directors of the corporation shall adopt.

directors.

§4. As soon as five hundred thousand dollars shall have Election of been subscribed, the said commissioners shall call a meeting of the stockholders, by giving ten days public notice thereof

1

Quorum.

Calls on stockhold

ers.

Common seal.

ed.

in one or more newspapers published in the city of NewYork, and said stockholders shall elect by ballot, at such meeting or at any subsequent general meeting, five directors, being stockholders and citizens of this state, to hold their office for one year, to manage and conduct the affairs, concerns and business of the corporation; each stockholder, at such election, shall be entitled to one vote for each share he shall hold at the time of such election; and the election shall be made by such of the stockholders as shall attend for that purpose, either in person or by proxy, and the directors of the said corporation, except for the first year, shall be annually elected, at such time and place, as shall be directed by the by laws of the said corporation.

§5. Any three directors of said corporation shall form a quorum for the transaction of all the business of the said corporation.

§ 6. It shall be lawful for the directors of the corporation to call in and demand from the stockholders respectively, all such sums of money by them subscribed for, at such times and in such payments, or instalments, as the directors shall deem proper, under the penalty of forfeiting the shares of stock subscribed for, and all previous payments made thereon, if payment shall not be made by the stockholders within sixty days after personal demand, or notice requiring such payment, shall have been published for six successive weeks in one or more newspapers published in the city of New-York. §7. Said corporation may have and use a common seal, and the stock of said corporation shall be deemed personal estate, and shall be transferable in such manner as shall be prescribed by its by-laws.

Officers to § 8. The directors of the corporation who, from time to be appoint-time, may be duly elected, may appoint one of their number to be president and such other officers and agents, and establish such by-laws and regulations, as they may think proper and expedient for the government of the corporation,and the management of their business, so that such by-laws and regulations shall not conflict with, nor, in any manner, violate the constitution or laws of this state or of the United States.

Liability of stockhold

rers.

Liabilty to creditors.

9. The stockholders of the said corporation shall be ers to labo- jointly and severally, individually liable for all the debts that may be due and owing to all the laborers and workmen employed by them for services performed for said corporation. $10. The stockholders of said corporation shall be severally, individually liable to the creditors of said corporation, to an amount equal to the amount of stock held by them respectively, for all debts and contracts made by said corporation, until the amount of the capital stock of said corporation shall have been paid in, and a certificate thereof shall have

been made and recorded as prescribed in the following section.

to be made

§ 11. The president and a majority of the directors of the Certificate corporation, within thirty days after the payment of the last of payment instalment of the capital stock of the said corporation, shall of stock make a certificate stating the amount of the capital stock of the corporation, and that the same is paid in, which certificate shall be signed and sworn to by a majority of the directors, and they shall within the said thirty days, record the same in the office of the clerk of the city and county of New-York.

respecting

one year.

§ 12. But no stockholder shall be personally liable for the Provision payment of any debt contracted by the said corporation, debts not which is not to be paid within one year from the time the paid within debt is contracted, nor unless a suit for the collection of such debts shall be brought against said corporation within one year after the debt shall become due; and no suit shall be brought against any stockholder in said corporation for any debt so contracted, unless the same shall be commenced within two years from the time he shall have ceased to be a stockholder in said corporation, nor until an execution against the corporation shall have been returned unsatisfied in whole or in part.

kept con

names of

§ 13. It shall be the duty of the said corporation to cause Book to be a book to be kept by the treasurer or clerk thereof, contain- taining ing the names of all persons who are or shall within two years stockhold have been stockholders in said corporation, and showing their ers. places of residence, the number of shares of stock held by them respectively, and the time when they respectively became the owners of such shares; which book shall, at all reasonable times, be open for the inspection of the creditors and stockholders of said corporation at the office or principal place of said corporation.

§14. The said corporation shall possess the general powers and privileges, and be subject to the general restrictions and liabilities prescribed in the third title, of the eighteenth chapter, of the first part of the Revised Statutes, and by the several acts amendatory thereof.

act.

§ 15. The legislature may at any time alter or repeal this

§ 16. This act shall take effect immediately.

General

powers.

Money to be raised by tax.

Repeal.

Salary.

Term of .office.

CHAP. 179.

AN ACT in relation to the First School District in the city of Troy.

Passed April 5, 1948, "three-fifths being present." The People of the State of New-York, represented in Senate and Assembly do enact as follows:

§ 1. It shall be lawful for the mayor, recorder, aldermen and commonalty of the city of Troy, to levy and collect by tax upon the estate, real and personal, of the freeholders and inhabitants and taxable property in the first school district in said city, in the same manner that other taxes are levied and collected, a sum of money not exceeding five thousand dollars in each year, to be applied for the purchase of the necessary lands and the erection of school houses thereon, and for the support of common schools in said district; or the said mayor, recorder, aldermen and commonalty of the city of Troy, may defray the necessary expenses thereof from the general funds of said city.

§ 2. The seventeenth section of the act entitled "An act to amend an act entitled 'An act to incorporate the city of Troy,' and for other purposes," passed May 6, 1834, is hereby repealed.

CHAP. 180.

AN ACT relating to the salary and term of office of the county treasurer of the county of Kings.

Passed April 5, 1848. The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

§1. The treasurer of the county of Kings shall hereafter receive for his services the fees now allowed by law, but the whole amount thereof shall not in any one year exceed the sum of one thousand dollars.

§2. The term of office of country treasurer in said county shall commence on the first Tuesday in August next succeeding his election, and before he enters upon the duties of his office, he shall give the bond required in section eighteen, article second, title second, chapter twelve of the first part of the Revised Statutes.

3. This act shall take effect immediately.

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