The New York herald., 1870-05-02
TIE INDUSTRIAL EXHIBITION.
a Broad and Comprehensive Charter-Ampls
Means for splsndid CRYSTAL palaoe
in New York

The following is the charter Of the Induatrial BxS ,
hibition Company passed by the late Legislature.
Asthe directors of the exhibition mentioned In tho
charter will probably give way to others when the
regular officers are elected at the forthcoming meet
ing OF the stockholders their names arc omitted;>
AN ACTT to incorporate the Industrial ExhiDitiOn !
Company, and 10 authorize SAID company 70 pur-
chase real estate, and to erect thereon building
or buildings which shall be used as an Industrial
The People OF the State OF New York, represented
ia .ne senate and Assembly 90 enact as ioioMs;
assigns shall be- and they are hereby declared and
M creased body corporate and polite, by the name
u ho Sst stye o. me ndpsrla Exhibition Company ana
powers ana privileges conferred upon corporation
~ Ne or Saaer an aet q he Of the state
Mechanical or Chemical Purposes" pSsssa FsDruas %
IL l646; ana the several acts extending and amend.
Ing said are hereby granted 10 the said indus,
trial Exhibition Company and said corporation shall
prescribed by said act and the acts amendaory theres
OF, except as hereinafter provided. fag es
SEC 2. The capital stock or said company shall be
s7,Ooo,ooo, divided into 10000 shares, Of the pai
value Of 500 each. 90
managed by board OF nfty-wo directors, who shall
except as hereinafter provided, be annually elected
by the stockholders.
to purchase and hold such real estate as may be
cessy, and to construct thereon such buildings aa
on OF the business OF exhibiting the products goods
wares and merchandise, machinery, mechanical ins
ventons and improvements Of every nature, pamo
ana kfnd and such as are usually exhibited at fairs,
and to award and pay TO exhibitors therein aucn
prizes anu medals and honorary distinctions as they
stands, rooms and places in said building or build.
1ngs, upon such terms and conditions as the Board
company. and for the promotion OF science, art,
commerce and literature. And the said company ID
gee 70 sS x arsn spaSs and
and statuary Of any nature and kind, and 10
buy and sell such paintings and statuary, ana TO
award such prizes for the creation OF the same az
such board OF directors may deem proper; ana gem
orally said corporation shall have power to carry ON
1nbeiore mentioned, all legal and proper business.
And said corporation 1, hereby further authorized to
purchase rad hold, BY gift grant lease or convey
he necessary useful for carrying ON The busipess
hereby authorized to be carried by SAID corpora
4 SEC. 8. Said company is hereby auth.r11ed and
fully empowered in Us corporate capacIty TO borrow
pcraon or body polite. OF any kind, for any rate OF
interest which may ps agreed upon by ana between
sald company ano any person or party OF whom said
and deliver all necessary writings, notes, bonds,
mortgages, or osner papers and securities in amount
and Rtnd Which may We deemed expedlent by said
corporation, in confederation or any such loan or In
discharge OF any liabilities that il may incur In the
purchase OF IFS SAID real estate or ID the constrSc.
ton OF s said buildings, ana in carrying on OF It's
said business; and the powers OF SAID corporation for
all purposes necessary 10 carry out lie object Of said
contracts and ofciSl acts CT said company ere de.
cared binding in law and equity upon said CORPORA
uon, and upon all other parties TO such contracts.
SEC. 9. The first ffty-tw0 persons named in this
att shall constitute the first board Of direc-
tors. and shan have the power @ name board
OF regents not 10 exceed in numbers ten for each
State or Territory In the United States, and also
board OF regents for other countries that may pro-
pose to exhibit wares in such building The regents
to hold office ut pleasure Of the b0ard and these nrst
flty-two corporators shall constitute the first board
OF directors until the capital stock Of said company
shall have been subscribed for and paid In In full aud
the said building shall have been constructed, after
which time said directors shall be annually elected
by the stockholders as provided il said act entitled
IAN act to authorize the formation Of corpora
tons Tor manufacturing, mining, mechanical or
chemical purposes passed February II, 1848; and
In case Of q vacancy in the said fist board OF di-
rectors, occasioned by death, resignation other
Wise, the persons remaining In said board shall have
power to I'LL such vacancy by appointment.
SEC 2. Tho first board OF directors shall have
power TO elect such officers as they may deem ad.
visable, Who shall hold their respective offices during
the existence OF the first board OF directors unless
vacancy Is caused by their own act After this act
becomes law, any five OF the herein named
lishing such call il daily paper 'I for
twenty consecutive days, and by mailing a
printed notice TO each Of the directors herein named
twenty days prior to the time of such meeting con.
vene the board: aud II there are present at such
meeting thirteen OF the herein named drectors they
may proceed to elect such officers shall be neces-
sary and 10 adopt set OF bylaws.
SEC. g. The building to be erected must be FREE
proof and OF solid masonry.
SEC. 0. Persons subscribing to the stock of this
company, or being directors, shall incur personal
liabilities beyond that which the bylaws Of this COM
pany shall make.
SEQ 10. The corporation hereby created shall con-
this act, and thereafter unless repealed.
SEC. IL. This &C, shall take effect Immediately.