No. 42. SUPPLEMENT To the act of twenty-fifth of March, one thousand eight hundred and twentyfour, entitled "An Act to re-charter 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 the Constraction of sixth article of the third section of the act of twenty-fifth of March, act relative to one thousand eight hundred and twenty four, relating to banks, shall be banks. construed to authorize suits to be brought against the directors of any bank for the period of three years from and after the failure of any bank embraced in the provisions of said act, and no longer. SECTION 2. That the Exchange bank of Pittsburgh be, and the Exchange bank same is hereby authorized to improve the surplus ground attached to at Pittsburg. their banking house, by the erection of such tenements thereon, not exceeding thirty feet in front on each side of said banking house, and let or lease the same to such persons and for such purposes as the directors of said bank may deem safe and expedient. W. P. SCHELL, THO. CARSON, APPROVED-The fourth day of February, A. D., one thousand eight hundred and fifty-three. WM. BIGLER. No. 43. AN ACT To enable the trustees of the Frankford Odd Fellows' hall association to borrow money; relative to the township of Delaware, Philadelphia county; to the commissioners of said county; to Commerce street, in the district of Richmond; and to the guardians of the poor of Philadelphia county. SECTION 1. Be it enacted by the Senate and House of Representatires of the Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted by the authority of the same, That the trus- Trustees of tees of the Frankford Odd Fellows' hall association shall have full power Frankford Odu and authority to borrow any sum or sums of money not exceeding in the whole, ten thousand dollars, which may be necessary to enable them to complete the purchase of a lot and erection of a hall, and enjoy the Fellows' hail association to borrow money. Preamble. officers. full benefit of the privileges conferred upon them by the act of Assembly authorizing their incorporation; any such loan to be upon such terms and conditions as the said trustees shall see fit, with power, also, to pledge and mortgage as security for any such loan or loans, all or any of their property, real and personal, together with all their rights, powers, privileges, and franchises; and any sale or sales under any judicial process to enforce the payment of any such pledge or mortgage, shall pass to and vest in the vendee or vendees, his, her, or their heirs and assigns forever, whatever properrty, rights, powers, privileges, and franchises may have been pledged or mortgaged under any such pledge or mortgages as last aforesaid. WHEREAS, The township of Delaware in the county of Philadelphia, was, by the court of quarter sessions of said county, created a new township out of parts of Lower Dublin township, in said county: And whereas, By an act of Assembly, passed the third day of May, A. D., one thousand eight hundred and fifty-two, the said Delaware township was erected into an election precinct, and authorized to hold the general and special elections at the atheneum, in the village of Holmesburg, in said township; therefore, Delaware tp., SECTION 2. That the said township of Delaware, in the county of Philadelphia co., Philadelphia, shall, on the third Friday in March, A. D., one thousand to elect certain eight hundred and fifty-three, and annually thereafter, eleet one assessor, one supervisor, one collector of State and county taxes, one constable, one auditor of the poor accounts, one judge and two inspectors of elections, one town clerk, two assistant assessors at each tri-annual assessment, one director of public schools to serve for the term of three years, three settlers of the supervisors' accounts, one to serve for one year, one to serve for two years, and one to serve for three years. Further powers. row money. SECTION 3. That the citizens of said township of Delaware shall, at the election in March, A. D., one thousand eight hundred and fiftythree, elect one person to serve as justice of the peace for the term of five years; and the said township of Delaware shall have all the privileges, rights, and interests in the poor house or house of employment for the townships of Oxford and Lower Dublin, in the county of Philadelphia, that it had before it was divided from the township of Lower Dublin; and said township of Delaware shall be entitled to two directors of the poor for the poor house or house of employment for the townships of Oxford and Lower Dublin; one of said directors for Delaware to be elected at the next general election to serve for the term of two years, and annually thereafter one to serve for the term of two years. Commissioners SECTION 4. That the commissioners of Philadelphia county are hereby of Philadelphia authorized and directed to borrow, on the credit of the county, the sum county to bor- of one hundred and twenty-five thousand dollars, at a rate of interest not exceeding six per centum per annum, said loan to be redeemable in twenty years; but no certificate of stock shall be issued for any fractional part of a hundred dollars: Provided, That the money so borrowed shall be appropriated by the county board to pay the present indebtedness of the county. Proviso. Commerce st., SECTION 5. That Commerce street, in the district of Richmond, and district of Rich- in the county of Philadelphia, as being laid down in the plans of said district, to be sixty feet in width, shall be so vacated from York to Cedar street, in said district, to be forty feet in width; and that portion of said street so vacated, shall be vacated on the east side of said Com mond. Repeal of parts merce street. SECTION 6. That the fourth section of an act entitled "An Act for of certain act. the relief of Bernard Kelly, of Blair county; to enlarge the limits of the borough of Shirleysburg, Huntingdon county; and relative to the W. P. SCHELL, THO. CARSON, Speaker of the Senate. APPROVED-The fourth day of February, A. D., one thousand eight hundred and fifty-three. To incorporate the Mechanics' savings bank of Harrisburg. 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 Daniel W. Gross, W. J. Robinson, Richard Fox, B. F. Etter, C. B. Corporators. Henry, J. C. Bomberger, Philip Dougherty, John Zinn, Isaac S. Waterbury, and every other person hereafter becoming members are hereby erected into one body politic and corporate in deed and in law, by the name, style and title of "The Mechanics' savings bank," and Style. by that name shall be able to sue and be sued in all courts and tribunals, and to purchase, have and hold lands, tenements, hereditaments, rents, goods, chattels and effects of whatsoever nature or kind, and the Privileg `· same at any time to sell, grant and dispose of, and to make, execute and deliver all proper and legal conveyances and assurances, and to receive the same, and also to make, have and use a common seal, estabfish and put in execution all such by-laws, ordinances and regulations 0 as may be necessary and fit to subserve the interests of the institution, not being contrary to the Constitution and laws of this Commonwealth or of the United States: Provided, That the clear yearly value of the Proviso, SECTION 2. That the business of said institution shall be to receive Business of inmoneys on deposit at such rates of interest as may be agreed upon: stitution. Provided, That the said institution shall not in any case, or for any Proviso. Management of institution. Dividends. Liability of Cashier to give bond. Meeting of members. Officers. Statement of affairs. purpose, issue its own bills in the manner of bank notes for circulation as money. SECTION 3. That for the security of the depositors of the said institution, it shall be the duty of the persons named in the first section and such others as may become members of the institution previous to the granting of letters of incorporation, to raise and form a capital of not less than ten or more than fifty thousand dollars in shares of fifty dollars each, which capital shall at all times be liable to the depositors for the amount of their deposits and the interest accruing thereon, the shares to be transferable on the books of the institution in such manner as may be designated by the by-laws of said institution. SECTION 4. That the said corporation shall be authorized to invest its funds in public stocks of this State or of the United States, in real securities or in the discount of notes and personal securities: Provided, That the rate of discount at which loans may be made by the said institution shall not exceed one-half of one per centum for thirty days. SECTION 5. That the business of said institution shall be managed and conducted by seven directors to be chosen in the manner hereinafter mentioned, five of whom shall form a quorum to do business, they shall choose from their own number a president and appoint a cashier and also a clerk if necessary, and the office of said institution shall be in the borough of Harrisburg. SECTION 6. That the president and directors shall declare dividends of the interest arising on deposits as often as they may deem proper, and a depositor shall have the right of withdrawing his deposits at any time, if not exceeding twenty dollars on ten days' notice, if above that sum and not exceeding forty dollars on thirty days' notice, and if above that sum on three months' notice. SECTION 7. That the stockholders shall be individually liable for the debts and engagements thereof except deposits made in other funds than specie, and debts due to banks in such sums as may be equal to the par value of the stock owned and held by them respectively therein: Provided, That the debts due and to become due to the said institution, except debts due from the State of Pennsylvania, and balances due from banks shall never amount to more than three times its capital stock paid in. SECTION 8. That the cashier shall give bond to the president and directors of the institution in a sum not less than five thousand dollars with two or more sureties conditioned for the faithful performance of all the duties enjoined on him; he shall be the receiver of all moneys of the institution, and shall disburse and pay same under such rules as may be established by the president and directors, may be removed at the pleasure of the said president and directors. SECTION 9. That there shall be a meeting of the members of the 'Mechanics' savings bank on such day in the month of May next, at such place as a majority of the persons named in this act shall appoint, for the purpose of choosing from among the members seven directors to manage the affairs of the said institution for twelve months thereafter, and until a new election shall take place all future elections shall be held in such manner and at such times as the by-laws shall provide. SECTION 10. That the president or cashier shall make a statement annually of the affairs of the said institution on oath or affirmation to the Auditor General to be laid by him before the Legislature. SECTION 11. That this institution shall continue for fifteen years Reservation. and no longer, except so far as may be necessary to close its business, and the Legislature may at any time alter or revoke the privileges. hereby granted. W. P. SCHELL, Speaker of the House of Representatives. THO. CARSON, APPROVED-The fifth day of February, A. D., one thousand eight hundred and fifty-three. WM. BIGLER. No. 45. AN ACT To repeal an act laying out a State road from Deardorff's mill, in Adams county, to Owen's lime-kiln, in York county, approved March first, one thous and eight hundred and fifty-two. 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 an act authorizing the laying out of a State road from at or near Deardorff's mill, in Adams county, to a point on the York and Conewago canal turnpike at or near Owen's lime-kiln, in York county, approved the first day of March, Anno Domini, one thousand eight hundred and fifty-two, be, and the same is hereby repealed. W. P. SCHELL, THO. CARSON, APPROVED The seventh day of February, A. D., one thousand eight hundred and fifty-three. WM. BIGLER. |