New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-02-16
General NIanu ~ curing Act.

g. 2l % and part OF %.
The only material alteration we have heard Of
not included below, is that the Orskeny clause
only operates previous TO the payment OF the Cd
tire capital Of the Company.
Capitalists will doubtless hasten % avail them.
selves Of the provisions OF this BILL and taus give
new impulse to manufacturing enterprise. IL is
believed that millions Of dollars are sent abroad an
nually. to pay for what could be as well produced
at home. A general law will surely lessen the
drain on the purses OF our citizens for foreign pro
ducts whichis encouraging the industrious through
out the State.
AN ACT to authorize the formation Of corporations for
manufacturing, mining mcdaniel chemical pur-
Jan. s.. 1881
Tae Peoye If he Ssafe If Nesr- York reprssnd N Sen
ate and d5fs"biy, 10 enaet a. fofioars
SRCTIOs J. Al any time hereafter, any three or more
sefsons no may desire 70 form company for the
pose a. carrying any KIDD Of manufacturing, minos
mcdaniel chemical business may make. sisn and
knou led ~ before officer competent take th.
knowedE OF deeds and file in the office of the clerk
Of The county ia which the bunesS q the shall
be raffisd and duplicate thereof 10 the Ollie. Of he
Secretary Of state, certificate 10 whiting. vhIch shall
BE- stated he corporate Of the ssd company snd the
otecs for which the coInPsu shall be formed the amount
Of the capital stock Of the said compsuy the term Of
existence not 10 exceed fifty years the number Of shares
Of hch the said stock shall consist the number d
and their names who shall manage the said
cOmpsny for he u year and the Of the ana
county IN which the the said company are 70
p When the certificate shall have been f led as sfore-
said the persons who shah have signed and acknowledged
the same and their successors shall be BODY polite aud
corporate in fact and IN by the stalled ia such
certificates and BY that nsne have succession aud shall
capable suing and being sued m any Of
equity this State and they sld their may
htveH common seal and may make and alter the same a.
pleasure and they shall by thsiI corporate he
pfbe law Of purchasing. holding and conveying any
real agd personal estate whatever necessary 70 enable to
certificate
g. Tie stock property and II such company
shall managed BIZ not more tLap nine trustees. who
shall pectvely be stockholders such company and
citizens u the nited states ana Who shall, except me
FIRST year be annually elected by the stockholders e. such
time place shall BE- directed by the bylaws Of The
1ampsny; ana puoc notice Of the lime and place OF bold
such election shall be pub shrd not es than ten days
pr. thereto, in the newspaper printed nearest 10 The
place where the operations Of The said company shall be
carried and tie election shall be made BY such q the
kh0ders shall attend for that purpose either in per
by proxy All seti0ns shali be BY bslo ana each
stakeholder shall be enttsd 10 many votes es he
stock IN the SAID pany sud the persons
ccving the greatest number Of votes shall be trustees
aud when any vacancy shall happen among Inc trustees
remand Of the year 10 such manner as may be provided
for by the bylaws Of the said company.
IS There shall be a President Of the company, who
shall be designated from the number OF the trustees, aud
laws may de'ignste who msy be elected appointed and
required 10 give such security for the faithful perform
ancs Of duties their office the company by its by
49, shall be lawful for the trustees 10 call and demand
from the stocLholders respectively all such sums Of mo.
ney by them subscribed, al such times and ia such ray
ccnts inst4nents as the trustees shall deem proper
under The psnsy OF forfeng the shares Of stock sob
.crbed ior and all previous payments made thereon
payment shall not be made by the stockholders within
sixv DAYS after personal demsnd or notice requiring
suc payment shall have been for E successive
weeks In the newspaper nearest to the place where ne
busnsss Of the company shall be carried on az Aforesaid
T. The trostees Of such company shall have power %
make such prudential bylaws rs they stall deem proper
Tor the management ana disposition Of the stoos and bos
ahFr. of such company not inconsseni WIN the
laws Of this State and prescribing the duties Of ocer
atfcer md that nay be employ Cd for the ap
arF. fa.a rVrFr IN Al kHuIa sf
busir within the objects and purposes " u company
g. The stock Of such company shall be DEEMED personal
prescribed by the bylaws Of the company but shares
shalt be transferable until all previous calls thereon SHAH
ed for the nonpayment Of calls thereon Aud II shall not
be lawful for such company TO use any Of their funds IN
the purchase Of any stock 10 any other corporatlon
10 All the stockholders OF any such company lhar
shall he heresfter incorporated under this act shall re
iDty aud seyersy liable for all the debts and contracts
made BY such company until the whole amount of the
capital fixed and limited By the company in manner
shall have been made and recorded as prescribed IN the
iii The president and a majority Of the with
thirty days after the payment OF the ast OF
II stock fixed and limited by the conPany
shall make certificate stating the amount OF the
capital fixed and PAID in which certificate shhl be
signed and sworn 10 by the president and majority Of the
trustees and they shall within the said thirty days re-
cord In the oce OF the county clerk OF The coun
- herein the business OF the SAID company carried
r. Every sueh company shall annually, within twenty
daye from the first day Of January make report when
shall be published in some newspaper published 40 ne
town. city village # there be 10 newspaper publish
ed IN said town, city or village then ~ some ns"staps
published nearest the place where the business OF aia
company is carried on which shall state the amount OF
capital. ard of the proportion actually PAID H. ana me
amount of its existing debts which report shs DE signed
by the president and ind amejoy OF the trustees; which
port shall be verified by the oath OF the president or sec
rotary Of the said company and hed IN the once OF 'ne
clerk of the county where the business OF the company
shall be carried and II any OF said companies, shall sll
do, all the trustees Of the company shall be Jointly
and sevealy liable for all the debts OF the company then
existing and for all that shall be contracted before such
report shall be made
aud pay any yidend when the company insovent or
any dividend, the payment OF which would tenaeI IN
solvent or which would diminish the amount OF u. cap
ta stock they shall be Jointly aud sevefsy liable oi al
the debts OF the company then existing aoa Tor AL thai
shs be thereafter CONTACTED while they 'ha 'esPe0
rordsd That any Of the trustees shall object to the
arins such dividend the payment Of the same
ana shall sny time before the time hsed Tor the pay
ment thereof file certificate OF her IN h h
with the ciek OF the company aud with the CLERK oil the
county they shall be exempt from the said liability
IL NtLjog but money shall be considered payment
any part the capital stock, and no loan OF money sna
"a oso ,hal be made 10 stockhod-T. the Of
ieels who shall make H. who shall assent thereto shal
be- Jointly and seyersy isble 70 the extent OF sHeh oa
interest for al the debts Of the company contracted
! helor, the repayment OF the sum so loaned
ms II any certificate or report maze, public notice
BY the officers of any such oompaey IN pusnsnse OF
s provisions this shall be false In any material re-
presentation, all the officers who shall have signed ne
shall be jointly and seveTay liable io AZ ls as
OF The pany contracted while they are "
9iS Ne usrson holding stock In any such company
L
person holding such stock as collateral seenIp sna ?,
personally subject 70 any liability a. stncsholaer o. suSu
company but the person psdsine such STOCK shsH pc
considered holding the same, and shan be hap.s ~
accordingly and the estates ana iunds 10 e
hands of such executor. Administrator. gua'chn or
frusee shall DO liable 10 like manner snd 70 the same
extent inests;e, or the ward or person
inferesed in such fund would have been ne hao
bccn living ard competent TO act and held The same
stock in his name. ,. 90
ma Every such executor. administrator saNd an OF
trustee shall represent the share Of stock 10 as ues y
all meetings OF the company and may vote aceoidins !"
'iockhoder; snd every psrson who snail plso-e ~
stock aforesaid may nevertheless represent the sue
a. al such meetings and vote accordingly ~ sVeA
holder But person holding stock IS executor aauiu
guardian shall be TRUSTEE or hoo any
cics iu sid company, auo Gil votes given 10 the %
| either oi them shall be- void.
sa The stockholders Of any company orsanitea unasf
the provisions n this ect shall be jointly and seY-fay n
aividuay liable for ell debts that may be due ana o~ins
10 al their lsbores servants and apprentice iJr seTN-
4 ces performed for such corporation.
gl4 The Legislature a. any time alter, amend OF
-ens.l this set or srnul repeal incorporation
tmsa or created under this hut such amendment or
ai shaI not nor shall The dissolution OF such com
pAny take away impair any remedy sven Agsinst sny
ac corporation, Its stockholders or ohcer r any ao-
| Nv which shsll have been previously incurred
| 10 Auy corporation company heretofore totmeo'
itber bv special act or under e general law and nov