New-York daily tribune., 1857-04-16
ORGANIZED EMIGRA TION.

AN ACT TO INCoRPoRATE TIE AMEnIcAM N6.H;Nx EMI-
The People of the state Of Nec York rpreeated in Senate and
A,semby do enact as JoiiOus;
SrcTIos /. Erastus Corning, John S. Wadsworth.
Roln Sanford Charles a. Stfson, John A. c. Gray,
Truman smith Richard u. Blatchford, Jas. MeKaye,
William A. Hall, Edwards w. Fi.ke Henry Morgan,
| John L. Schoolcraft, Palmer " Kellogg, Alexander
| B. Williams, ID. Randolph Martin, Hugh White aud
others their associates successors and assigns, are
hereby constituted corporation under the name and
| style Of the American EmiTant Aid and Homestead
Company.
named Company shall be to facilitate, organize and
conduct engration and TO provide for the judclous
aud proper colonization and settlement OF engrants
upon the occupied and unoccupied lands OF the States
| OF Territories of the United States.
SIC. g. And for the purpose OF carrying INTO ehect
tl, li.ct, and intents above mentioned, raid Com
uany hall have power aud they are hereby authorized
To- purchase acquire and hold either by themselves or
by such trustee OF trustees as they may appoint all
.u,h personal and real estate they may deem iequ-
site thereto ard 10 SELL assign and convey or other
wise dispose of the i'll their discretion, provided
laid Company shall not, at any time, hold real prop
ery i'm this State 10 amount exceeding $JOVD; 10
enter into and make anv and all such a1angements
cont acts deeds aud obligations may be requisite
and proper in the prosecution OF the business OF said
ConIuny or TO do 10 be done any and every
other uN full act thing appropriate 10 the accom-
pshucnt the objects and purposes herein conten-
plated and intended. Said Company shall be capable
Of suing and being sued, and may have and use
common seal -
SyC 4 The caIital stock of said Company shall he
5000 OtO with the privilege Of increasing the same
from time to time, as said Company may deem re-
quistc the proper prosecution ol Ms business 10 any
amount not exceeding 5000 0OO Said stock Shau be
divided into shares Of $loo each which said shares
hnl be r.presented by proper certificates Of scrip,
and shall be deemed personal pr'perty uahSiGrape
by assignment or otherwise, a. may De PROVIDED IN
the bylaws Of said Company.
Src ;. The business propcrty and affairs of said
Conf any sla 5e managed and controlled oy Doafd
Of Niae Directors each of whom shall be owner ana
holder in h- own right of at least nifty shares ot the
.tock of snid company 10 BE- chosen by the stock
holders az such times aud under such regulations a.
sba be prescribed by the bylaws vi said Company,
each stakeholder being entitled to give at every such
election as many votes he holds shares OF stock;
said directors 10 ld their Offices for year, and un
N Others shall be chosen in their stead provided how
ever that in case any vacancy in said Board stal oc
cur in the intervals of any election by the ockhoIdrs
said Board may ill the same; and provided also, that
the frst Board OF Directors under this act -aA be
chosen n hereinafter provided
SIC o. Said Board of Directors a majority or whom
shall at all times be q quorum Tor the TRANSACTION st
business shall have power and they are hereby au-
thorz.d 10 direct manage and control the whole prop
erty business and affairs Of the corporation hereby
created and for that purpose may do and execute all
and every power authority, act or deed authorized TO
be done and executed within the intent and meaning
Of this act 1t -hal be their duty 10 make all requisite
hy-ws and rules for the regulation OF their own pro-
c,edingS and for conducting the business and affairs
of the COMPANY for the safekeeping and proper dis
uosul of It's effects and for the just division and dis
tbuton among the stockholders from time 10 time OF
all MONEYS OF other proceeds hereirOn resulting They
nav elect from their own body President, Vice.
President and Secretary, and may prescribe their du-
ties and CONVERSATIONS They shall alsO appoint all
other ficers agents and employees OF the Company
p,eecrbe their duties and x their compensatOns and
II ay remove the sane at their discretion They shall
likewise prescribe the and times Of payment
Of tb. subscriptions to the capital stock of said Con
rany ard NAV enforce the by suit az law 9TH
| .Iwise, AT their discretion
SIC Z The corpOrators herenbeiore named shall
be commissioners 10 procure subscriptions 70 the cap
a stock Of said company, and il shall be the duty Of
.aid commissioners whenever the whole of said cap
tai .ock Of two hundred thousand do1ars shall be
subscribed TO call meeting of the subscribers 10
said stock ut such time and place in the City of New
York and upon such a notice they may deem ade-
quat. and proper for the purpose Of electing the first
Board Of Drectors-each subscriber, either in person
or by proxy being entitled TO many votes in said
el,ciion as lie may have subscribed shares OF stock
and for the transaction of such other preliminary pro-
ceedings may be required to the proper organiza
ton If sad company.
SEC. 8. Each and every stOckholder shall be IN
dvidualy liable 10 the creditors vi said Corporation 10
al amount equal 10 IN. amount of stock held by him
until he sha have paid in full the amount of stock 80
held, but suit shall be brought against any stock
holder for any debt or liability contracted by said COM
Jany untss the same shall be commenced within one
VI from the time he sha have ceased 10 be stock
holder within one year after an execution .hal be
returned unsasfed. In whole or in part against said
company. Nor shall any person holding stock in sad