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Trasters.

ection.

Windsor Academy,” to be located in the village of Windsor, in the county of Brooine. for the purpose of establishing, maintaining and conducting a seminary of learning, for the education of youth of bolli sexes.

§ 2. The estate, property and concerrs of the said corporation shall be managed by a board of ninc truslees. 'The persons named in the first section of this act shall be the first trustees of the said corporation, and shall be divided by lot into three classes; the term of servicc of the first class shall expire on the second Monday of January next; that of the second in one year, and that of the third in two years thereafter.

$ 3. On the second Monday of January, one thousand eight hundred thirty-eight, and on the second Monday of January in each succeeding year, there shall be an election of three trustees, who shall hold their offices for three years, and until others shall be elected in their places. The election shall be by ballot, and by a plurality of the votes of the members present.

§ 4. The said academy shall participate in the distribution of the literature fund, whenever the regents of the university shall be satisfied that it has complied with the requisitions which would authorize them to incorporate the same.

5. The corporation hereby created shall possess the power, and be subject to the provisions of the fifteenth and eighteenth chapters of the first part of the Revised Statutes, so far as the same are applicable and have not been repealed.

$ 6. This act shall take effect on the passage thereof.

Literature fuud

General puwers.

Act to take atteet

CHAP 448.

and dreds

AN ACT for the relief of John Jackson and others.

Passcd May 16, 1837. The People of the State of New York, represented in

Senate and Assembly, do enact as follows: Bale marle

$ 1. The sale heretofore made by John Jackson, as speexecuted,

cial guardian of Edward Jackson, Elizabeth Jackson, Ana cumbcmed. Jackson, Rosetta Jackson and Fanny Jackson, infant chil

dren of thc said John Jackson, together with Stephen Jackson, Isaac Jackson, Jacob S. Jackson, Charles Jackson, Coe D. Jackson, Parmenus Jackson, Richard Jackson, and Bedell Baldwin and Rosanna his wife, (the said Stephen, Isaac, Jacob S., Charles, Coe D., Parmenus, Richard and Rosaona, being adult children of the said John Jackson.) in pursuance of an order of the court of chancery, made by the vice-chancellor of the first circuit, bearing date the twenty

H

fifth day of May, one thousand eight hundred and thirtysix, and the deeds of conveyance Wade, and which shall b; made in pursuance of said sale, is hereby declared to be valid and effectuat in convey to the purchasers respectively in fue simple absolute, the same title to the parcels of land respectively by the purchased, as was vested in Samuel Jinchisou immediately before his converance thereof to the sail Jolin Jackson. by deed. bearing date the fifteenth day of February, in the year one thousand eight hundred and thirty-two, and recorded in the office of the clerk of the county of Kings, uil the twenty-first day of February, in the year one thousand eight hundred and thirty-five, of all those luis and parcels of land which are laid down upon the map made for and used at sivid sale, entitled “ A map of property of John Jackson and others, in the seventh ward of the ciiy of Brooklyn,” dated June, eighteen hundred and thirty-six, and filed in the office of the clerk of the county of Kings on the thirty-first day of August, eighteen hundrid and shirty-six, and which are situatu between Willoughby-sireet, as laid down upon said map, upon the north; Grand street, as laid down upon said map. uion the east; a line parallel to and about two hundred feet southerly from De Kilb-street, as laid down on said map, on the souih, anu Ryerson Avenue, or strect as laid down upon said map, on the west; but the said title conveyed, or to be convey. ed, as aforesaid, shall be subject to ali liens and inrumb:ance's effected thereon by any of the above namned partics in interest.

Ø 2. The proceeds of said sale shali be and remain sub- Proceeds jeci to the control and direction of the vice-chancellor of disposed of the first circcit, and after doducting and allowing in such manner and under such terins as the said vice-chancellor has determined, or hereafter shall determine, the gross value of the lite estate of the saint John Jackson in th: siviel preinises, to be paid to or retained by him; said vice chancelİor shall and may direct the appropriation of such proceeds, or such part there:f as he shall deem just and equitable to the pavment of such assessments, for local improvements as have been laid upon the land, or any part thereof conveyed by said deed of convoyance from time to time, and shall direct the investment of such proceeds not appropriated as aforesaid, in such manner as he shal! judge will be most benefiind to the parties in interest, and shall have the same control and direction of all the proceeds and investments, and the securities taken for the same, as he would have had had the proceedings before him been in all respects valid and effectual.

§ 3. This act shall take effect upon the passage thereof. Act to take

effect.

CHAP 49.

deed.

AN ACT for the relief of Louisa Troup, and others.

Passed May 16, 1837. The People of the State of New-York, represented in Se

natr. und assembly, do enuct is follows : Lonisa Troup § 1. Louisa Troup, Jennet Troup, James L. Brinkerhoff wexcuica and Carlouie Brinkerhoff, are hereby authorized to convey to

George Perlit il tract of land in the lowu ol Fabius bounded
and described as follows, to wit: Being part of lot number
thirty-three in the original military to wuship of Faivius, bc-
ginning at the south west corner of a tract of filty acres, sold
lor detraying the expense of surveying the said lot number
thiriy-three, and running thence along the said filly acres,
nortli twenty-two chains and thirty-six links; and east twen-
ty-two chains and thirty-six links; thence north nine chains
and i wenty-seven links; thence west thirty-one chains and
sixty-three links; thence south thiriy-one chains and sixty-
three links; and thence east nine chains and twenty seven
links, to the place of beginning, containing fifty acres, as the
same Wils cieuled by ihe state to Robert Troup, deceased,
by letters patent, bearing date the sixteenth day of Septem-
ber, seventeen hundred and ninety-five; by a good and suf-
fiient deed in pursuance of the contract entered into on the
fourteenth day of August, in the year eighteen hundred and
thirty-three, between Robert R. Troup, Louisa Troup,
James L. Brinkerhoff, Charlotte Brinkerhoff and Charles G.
Troup, of the first part, and George Pellit, of the second
part, for the sale and conveyance of the suid premises,
which deed shall be as valid and effectual in ali respects to
convey the lille to the said land, as it would ninle buen had
it been executed by the original parties to the said con-
tract.
§ 2. This act shall take effect on the passage

thereof.

Act to take edecL

CHAP. 450. . AN ACT suspending for a limited time certain provisions of luw, and for other purposes.

Passed May 16, 1837. The People of the State of New-York, represented in Se nate und Assembly, do enacl as follows:

§ 1. Every provision of law in force, requiring or authorizing proceedings agamst any bank in this stats, with a view w foricit its charter, or wind up ils concerns, or which

Provisions of law suspend ed for one year.

costs.

requires such bank to suspend its operations and proceedings, in consequence of a relusal to pay its notes or evidences of debt in specie, is hereby suspended for one year. But such suspension shall not apply to any bank which shall

, during said time, refuse to receive in payment of debts due to such b:ink tie bills or notes of any other bark subject to the provisions of this act, and against which an injunction has not been granted.

§ 2. In any suit prosecuted against any such corporation, Amount of or individual stockholler, within the period aforesaid, for non-payment of its debts is specie, no costs shall be recoverable by the party prosecuting, unless the amount of the debt or damages recovered shall be such as would entitle the plaintiff to costs were the judgment against a natural person; and every issue of law or lact joined in such suit shall be brought to trial according to the same rules as apply to other issues joined in the court where the suit is pending, notwithstanding the provisions of section eleven of title four, chapter eight of the third part of the Revised Statutes; and the provisions of sections cight, nine and ten of title four, chapter eight of the third part of the Revised Statutes, shall not be applicable to such suits.

§ 3. The amount of notes or bills issued and in circula- Amount of tion of the several banks of this state, shall not hereaïter exceed the following amounts respectively: those having capitals to the amount of one hundred thousand dollars, a circulation of one hundred and fifty thousand dollars; those having capitals to the amount of one hundred and twenty thousand doilars, one hundred and sixty thousand dollars; those having capitals to the amount of one hundred and fif. ty thousand dollars, one hundred and seventy-five thousand dollars; those having capitals to the amount of two hundred thousand dollars, two hundred thousand dollars; those having capitals to the amount of two hundred and fifty thousand dollars, two hundred and twenty-five thousand dollars; those having capitals to the amount of three hundred thousand dollars, two hundred and filty thousand dollars; those having capitals to the amount of four hundred thousand dollars, ihree hundred thousand dollars; those having capitals to the amount of five hundred thousand dollars, three hun

dred and fitty thousand dollars; those having capitals to the - amount of six hundred thousand dollars, four hundred and

fifty thousand dollars; those having capitals to the amount of seven hundred thousand dollars, five hundred thousand doilars; those having capitals 10 the amount of one million of dollars, to eight hundred thousand dollars; those having capitals to the ainoont of one inillion four hundred and winety' thousand dollars, one million of dollars; those having capitals to the amount of two inillions of dollars, one million two hundred thousand dollars. But in all cases where a

bills or notes to be issued and circu. lated

Dividends.

to be sold

Banke to make

banḥ has a branch located at another place, that portion of the whole capital actually employed at each place of business, shall be taken and deened the capital thereol, under the provisions of this section.

§ 4. No such corporation shall, directly or indirecily, divide or pavi to or among its stockholders, or to any person for them, any dividends, interest or profits whatever, until it shall resuine the payment of its notes, and evidences of

debi, in specie. Bpecie not $ 5. No bank, or officer or agent of a bank, shall, during banks. told by the suspenson of specie payments by such bank, directly or

indirecily, seil. dispose of or part with at a premium, the specie of such bank, or any gold or silver bullion belonging to such bank, and it is hereby made the duty of the bank comunissioners to see that the foregoing provision is faithfully complied with; and in case of the violation thereof, said commissioners are required to make and file with the secretary of state a certificate of such violation, and from thenceforth the bank so certified to have violated the aforesaid provision shall be deprived of all benefits proffered by this act, and said commissioners shall forthwith proceed 10 wind up the concerns of such bank.

$ 6. Each of the said banks shall transmit monthly to the

bank commissioners, at the office of the secretary of state, inunthly re

a statement of its con!ition, in such form as they shall prescribe, abstracts of which statements shall be published by said commissioners in the state paper.

7. No part of the income of ihe“ bank fund” shall be paid by the comptroller to the corporations by which the said fund was created, until they shall have resumed the

payment of their debis in specie. Condition as 9 8. This act shall not take effect in favor of any

bank not subject to the act, entitled "An act to create a fund for the benefit of the creditors of certain moneyed corporations, and for other purposes," passed April 2, 1829, unless such bank shall siguify its assent to the provisions of this act, and the provisions of the act last above mentioned and referred to, so far as regards the visitation of the bank commissioners to ascertain the extent of their issues; and their transactions in the sale of specie or bullion; nor unless such bank shall assent that the legislature may hereafter modify or repeal the act incorporating suck bank, or any acts in amend. Inent thereof; which said assunt shall be given within ten days, by an agreement under its corporate seal, to be de

posited with the secretary of slate. Duty of bank 9. No withstanding the provisions in this act contained,

it shall be and is the duty of ihe bank commissioners to take prompt and efficient steps, according to the law now in force, to forfeit the charter and wind up the concerns of

turns.

Bank fund.

to certain banks.

corpus pioners.

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