SECTION 9. That the stock of said company shall be transferable Transfer of on the books of the company only according to such rules and regula. stock. tions as may be prescribed by the by-laws. SECTION 10. That should the said company, by a majority of its Increase of stockholders in number and amount of stock, at a meeting called for capital stock. that purpose, after three weeks' notice thereof being given in at least two daily papers in the city of Philadelphia, deem it advisable to increase the capital stock thereof, they are hereby fully empowered to do 80, in any sum not exceeding five thousand shares, of one hundred dollars each, payable to the company by instalments, in amounts and and at such times as the directors may determine, SECTION 11. That if at any time it shall appear to the Legislature Misuse or abuse that the said company has abused or misused any of the privileges of privileges. hereby granted, the power to repeal this act shall in nowise be denied or impaired, but such repeal shall in nowise affect the engagements to which said company may have become a party previously thereto, nor shall it be done in such manner as to do injustice to the corporators. W. P. SCHELL, Speaker of the House of Representatives. THO. CARSON, Speaker of the Senate. APPROVED The sixth day of April, A. D. one thousand eight hundred and fifty-three. WM. BIGLER. 211 AN ACT To authorize the Common School directors of Lower Chance ford township, York county, to sell certain school houses in said school district; to incorporate the Farmers' Mutual Fire Insurance company; relative to the trustees of the borough of Hanover; and to extend the provisions of an act relative to testamentary trustees in the city and county of Philadelphia to the county of York; and to legitimate Agnes Lipp of York county. 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 School directors the common school directors of Lower Chanceford township, in the of Lower county of York, are hereby authorized to sell at public sale certain Chanceford tp., school houses in said township, and they are hereby further empowered certain school to convey by deed the ground on which the said school houses now houses. stand to the purchaser thereof: Provided, That the proceeds of said gale be expended for the benefit of said school district. York co., to sell SECTION 2. That Henry G. Kauffman, Karle Forney, Eli Kendig, Corporators. Daniel L. Gehley, John Landes, John Hiestand, Joseph Sultzbach, Michael Henry, Lewis Falkenstein, Adam Siechrist, Abraham F. Hiestand, John Allison, Samuel Kendig, and all other persons who may Style. Privileges. Object. Who may be members. Period of insur ance. Exceptions. Affairs, how managed. hereafter associate with them in the manner hereinafter prescribed, shall be and they are hereby constituted and declared to be a body politic and corporate, by the name, style and title of "The Farmers' Mutual Fire Insurance company," and by the same name to be able to sue and be sued, plead and be impleaded, in all courts of record or elsewhere, and also make and have one common seal, and the same to alter and renew at pleasure, and also to ordain, establish, and put in execution such by-laws, ordinances and regulations, as shall appear necessary and convenient for the government of said corporation, not being contrary to this charter or the laws of the United States or this Commonwealth, and generally to do and transact all such matters and things as shall to them lawfully appertain to do and transact for the well-being of said corporation, and the due management and well-ordering of the affairs thereof. SECTION 3. That the object and business of said corporation shall and is hereby prescribed to be the insurance of their respective dwelling houses, barns, and other buildings, household furniture, and other personal property, against loss or damage by fire, within the counties of York, Cumberland, Perry, Dauphin, Lebanon and Lancaster, for such term or terms, and for such premiums or considerations, and such modifications and restrictions, as may be agreed on between the said corporation and the persons agreeing with them for said insurance. SECTION 4. That all persons who shall hereafter insure with said corporation, and also their heirs, executors, administrators and assigns, continuing to be insured in said company or corporation, as is hereinafter provided, shall thereby become members thereof during the period they shall remain insured by said corporation, and no longer. SECTION 5. That no insurance shall be made by the said corporation for a longer period than seven years, nor shall any property be insured by this company in any other place except in the counties named in the third section of this act. SECTION 6. That no insurance shall be made by this company or corporation upon any buildings or personal property in any city, borough, or town, nor in any village where buildings are situated in blocks, nor upon any stores, taverns, distilleries, tanneries, or the shops of carpenters, coopers, cabinet-makers, wheel-wrights, machine shops, or buildings in which dry shavings are made or steam power employed. SECTION 7. That the affairs of said corporation shall be managed by a board of directors, consisting of not less than seven nor more than eleven members, chosen or appointed as hereinafter provided; all vacancies happening in said board shall be filled by the remaining direc tors for the remainder of the year for which they were elected, or until a new election, and a majority of the whole shall constitute a quorum' for the transaction of business; the seven persons first named in the second section of this act shall be the first directors, and the business of the said corporation shall be carried on and conducted at such place in the borough of York, county of York, as shall be designated by a majority of the directors present at any regular meeting of the board, and said board shall continue in office for one year after the passage of this act and until others are chosen in their place, which board of directors shall thereafter be elected yearly, at such time and place in the borough of York aforesaid as the corporation in their by-laws shall appoint, of which election public notice shall be given in at least one of the public newspapers printed in said county of York, at least thirty days immediately preceding such election, such election to be held under the inspection of three members not being directors, to be appointed by the directors previous to every election, and such election shall be made by ballot and by plurality of the members or their proxies then present, allowing to each member one vote for every hundred dollars insured for him or them in the said corporation. SECTION 8. That if it shall at any time happen that an election of Failure to elect president, secretary or directors, shall not be made on any day when not to dissolve pursuant to this act and by-laws of said corporation it ought to have corporation. been made, the corporation shall not for that cause deemed to be dissolved, but it shall be lawful on any day to hold and make an election of directors, in such manner as shall have been regulated by the bylaws and ordinances of said corporation. SECTION 9. That the board of directors shall appoint one of their Officers. own number for president, one for secretary, and one for treasurer, of whom they shall require such securities as may be required for in their by-laws, and shall have authority to appoint officers and employ clerks, appoint agents or attorneys, if found necessary for the transaction of the business of said institution, and shall from time to time fix and regulate the rates of insurance and the amount to be insured, the amount of the premiums or cash payment, and the premium notes of the persons applying for insurances. SECTION 10. That when property insured by this company shall be When policy to alienated by sale or otherwise, the policy shall therefore be void, and be void. be surrendered to the directors of said company to be cancelled, and upon such surrender the insured shall be entitled to receive his or her deposite note: Provided, That the insured shall first pay his or her Proviso. proportion of the balance of losses and expenses, if any, which have accrued prior to such a surrender, but the grantee or alienee having the policy assigned to him or her, may have the same ratified and confirmed to him or her for his or her own proper use and benefit, upon application to the directors and with their consent, within thirty days' next after such alienation, on giving proper security, to the satisfaction of said directors, for such portion of the deposite or premium note as shall remain unpaid by such ratification and confirmation; the party causing such security to be given shall be entitled to all the rights and privileges, and be subject to all the liabilities to which the original party was liable and subjected to under this act. SECTION 11. That suits at law may be maintained by said corpora- Suits at law tion against any of its members for the collection of said deposite may be mainnotes, or any portion thereof, or for any cause relating to the business tained. of said corporation, against any person for moneys due said corporation, or for injury done to their corporate property, books or papers, or for causing the destruction by fire of any property by them insured; also suits at law may be maintained against said corporation by any member thereof for losses or damage by fire, if payment is withheld more than three months after the company is duly notified of such loss, and no member not being in his individual capacity interested, shall be incompetent as a witness in any such cause as aforesaid, on the account of his being a member of said corporation. SECTION 12. Every person who shall become a member of this cor- Duties of memporation by effecting insurance therein, shall, before he or she receives bers. his or her policy, deposite his or her premium note for such sum of money as shall be determined by the directors, and shall in addition, pay a certain sum in cash, fixed by the directors of said corporation, said deposite note payable in part or the whole at any time when the directors shall deem the same requisite for the payment of loss or damage by fire, and such incidental charges as shall be necessary for transacting the business of said corporation, and at the expiration of Members bound the term of insurance the said note, or such part of the same asˇshall remain unpaid after deducting all losses and expenses accruing during said term, shall be relinquished and given up to the maker thereof. SECTION 13. That every member of said corporation shall be bound to pay for losses. to pay for losses or damage, and such necessary expense aforesaid, accruing in said corporation, in proportion to the amount of his or her deposite note. Directors to mine the amount to be paid by each member. SECTION 14. That if any loss or damage by fire shall happen to any settle and deter- of the members over and above the available cash fund in the treasury of said corporation, the directors shall settle and determine, in proportion to the deposite notes, the amount to be paid by any of its members as their respective share of such loss or damage, and publish the same, in such manner as may be prescribed in the by-laws, and the members shall pay the same to the treasurer of the company, or such persons authorized by him, within thirty days after the publication of such notice; on neglect or refusal to pay the same assessed upon him or her as a portion of any loss as aforesaid, in such case his or her policy shall be declared void, and the company may sue for and recover said portion assessed with costs of suit. Statement of affairs to be published. Sufferers to re tionable divi dend. SECTION 15. That within thirty days after the annual meeting for the election of directors, it shall be the duty of the secretary of the corporation to cause to be made and published in one or more news papers published in the borough of York, a statement of the affairs of the corporation, the amount of premiums received, the amount of losses and expenses during the year, the amount of risks, and a general balance statement of the affairs of the corporation. SECTION 16. That if it should ever happen that the stock of said ceive a propor- company deposited and paid as aforesaid, shall not be sufficient to pay all the losses occasioned by fire, then and in such case the sufferers insured by said company shall receive towards making good their respective losses a proportionable dividend of said whole stock, according to their respective losses, and the respective sums insured by them by said company, or if there should be an excess of funds the directors may, if they deem it expedient, declare a dividend to each member, apportioned to the amount originally paid. Withdrawal of insurance. When policies to issue. Use of funds. Continuance of act. SECTION 17. That any member wishing to withdraw his or her insurance from said company, shall surrender his or her policy to the directors, to be cancelled, and upon such surrender, shall be entitled to secure his or her deposite note, on payment of his or her proportion of losses and expenses accrued prior to such surrender. SECTION 18. That no policy shall be issued by said corporation until application shall have been made for insurance to the amount of one hundred and fifty thousand dollars. SECTION 19. That it shall not be lawful for the said corporation to deal, or use, or employ any part of the funds or moneys thereof in buying or selling any goods, wares or merchandise, in the way of traffic, or in any banking operation, or in the purchase or sale of any stock or funded debt created or to be created under any law of the United States or any particular State, but it shall nevertheless be lawful for the said corporation to make loans of the funds on bond or mortgage, and the same to call in and re-loan as occasion may render expedient. SECTION 20. That this act shall continue in force twenty-four years, but the Legislature may at any time alter, modify or annul its provi sions, in such manner however as to do no injustice to the corporators. SECTION 21. That the trustees appointed by the fourth section of borough of Han- the act of Assembly, approved the fourth day of May, one thousand Trustees of the eight hundred and fifty-two, entitled "An Act supplementary to the over granted act incorporating the borough of Manheim, in Lancaster county; re- further powers. lating to licenses in the borough of West Chester; to the public common of the borough of Hanover; to the Germantown Water company; to the election district in Lebanon county; and to Jarvis street in the district of Southwark;" and their successors in office, are hereby authorized and empowered to commence and prosecute actions at law in their names, as trustees as aforesaid, in behalf and for the use of the borough of Hanover, against any person or persons committing any trespass or trespasses upon said common, or in anywise wrongfully incumbering, occupying or using the same, or any part thereof, contrary to the intent and meaning of the deed of the executors of Richard M'Allister, deceased, by which said common was granted and conveyed, to be forever occupied and enjoyed as an open and free public commen. tended to York county. SECTION 22. That the provisions of an act entitled "An Act rela- Provisions of tive to testamentary trustees in the city and county of Philadelphia," certain act expassed the third day of March, one thousand eight hundred and fortyseven, be and they are hereby extended to the county of York. SECTION 23. That Agnes Lipp, of the borough of Hanover, in the Agnes Lipp county of York, an illegitimate daughter of Alexander Lipp and Mar- legitimated. garet Alwood, who were intermarried after the birth of their daughter, shall have and enjoy all the rights, privileges, benefits and advantages of a legitimate child of the said Alexander Lipp and Margaret Alwood, born in lawful wedlock, and shall be able and capable in law to inherit and transmit any estate whatsoever, as fully and completely, to all intents and purposes, as if she had been the legitimate child of the said Alexander Lipp and Margaret Alwood, born in lawful wedlock. APPROVED-The sixth day of April, A. D. one thousand eight hun dred and fifty-three. WM. BIGLER. No. 212. AN ACT Relative to Taxes paid by certain Banks. 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 such of the Banking and Saving Institutions of this Commonwealth as were chartered or re-chartered prior to A. D. one thousand eight hun |