a Cers, &c. sale and transfer to a person or corporation duly qualified to hold stock in this company. Section 8. That every member of a fire company in the city Insurance to firemen of Philadel- of Philadelphia, shall be entitled to effect insurance at a dis. phia, relative to. count of five per centum less than other persons, upon producing, to the satisfaction of the directors, a certificate of his right of membership; and all the companies associated or who may hereafter be associated under this act, within the city of Philadelphia, shall be entitled to equal participation in all benefits and, advantages of the institution, in proportion to the amount of stock held by the said company. Delegates, elec Section 9. That the several fire companies composing this tion of, &o. association, and the association for the relief of disabled fire men, shall hold separate meetings for the election of delegates, within thirty days after the aforesaid amount of twenty-five hundred shares of stock shall have been subscribed, and on the first Monday in March, in each and every year thereafter, and choose by ballot from among their members, one delegate who shall be a member of the body intended to be represented, and in their choice, each company being a stockholder, and each individual a stockholder, shall be entitled to and have one vote, and the person having the highest number of votes shall be the delegate elect; the delegates so chosen shall meet upon the first Wednesday following their election, and shall choose by ballot, Selection of offi- either from among their own body or from among the other stockholders, a president and twelve directors, all of whom shall be stockholders, by whom the affairs of this company shall be managed. No director of Section 10. That no director of any other insurance company any other insu- shall be allowed to be a director in this, and should any director to be a . tanice commander of this company be elected a director or trustee of any other fire insurance company, his acceptance of that appointment, shall ipso facto disqualify him from continuing a director in this company, and the board of delegates shall proceed to fill the vacancy within thirty days, after notice of said vacancy to them given by the president of this company. Vacancies, how SECTION 11. That in case of the death or disqualification of the filled. president, the directors shall fill the vacancy by ballot; and in case of the death, resignation or disqualification of a director, the place of such director, for the remainder of the year, shall be filled in the manner prescribed in section ten. May make all Section 12. That the president and directors shall be and kinds of inshire they are hereby authorized to make all kinds of insurance in Philadelphia, against fire, within the limits of the city of Philadelphia, only, and generally to transact and perform all business relative to the object aforesaid, and shall always stand and be indemnified and saved harmless in and for the giving out and signing policies, and all other lawful acts, deeds and transactions done, performed and executed in pursuance of and by virtue of these presents, and the stocks, securities and effects of this company, shall in the first place be appropriated and applied, and the same is declared to be appropriated, to exonerate and discharge, indemnify and save harmless, then and every of them, of and from all such costs, charges, damages and expenses, which shall or may happen to arise, or which they or any of them shall a &c. reasonably expend, or be put unto or sustain in, for or concerning the objects aforesaid, or any of them, or the execution or performance thereof. Section 13. That it shall and may be lawful for the said Capital stock company to employ and invest their capital stock; and other and other momoneys, in bonds and mortgage, or real estate, ground rents, invested. neys, how to be stocks or loans of the United States and of the several states, and in other good securities, and to sell and transfer the same, ånd to re-invest the proceeds of such sale or transfer, in other similar loans, stocks or securities: Provided, That nothing in Proviso. this act shall prevent said company from receiving, purchasing or holding any real or personal property, stocks or other securities in payment of debts due them, or to secure the same in any manner that the interest of said corporation may require, or to purchase and hold such real estate as may be necessary to accommodate the said corporation in the transaction of the business thereof, and to mortgage, sell, assign and convey the same in fee simple or otherwise : Provided, That nothing herein Proviso. contained shall authorize the company to use their funds in discounting promissory notes, or to exercise any banking privileges: Provided, That no investment in real estate, other than Proviso. ground rents, shall be hereby authorized, except such as shall be needful as a place of business, or shall have been purchased under execution for debts due said company. Section 14. That the president and directors shall declare Dividends. dividends of the corporation semi-annually, or so much thereof as to them shall appear advisable, not exceeding ten per centum; the remainder of the profits shall be retained as a reserved fund until said fund shall amount to fifty thousand dollars; and in case of any loss or losses, whereby the capital stock of the company shall be lessened, no subsequent dividend shall be made until a sum equal to such diminution, and arising from the profits of the company, shall have been added to the capital. Section 15. That so soon as there shall have been created a re- Reserved fund. served fund of fifty thousand dollars, the surplus profits over and above the ten per centum hereby authorized to be declared, shall be semi-annually equally divided among the fire companies composing this company: Provided, That in case of a loss or losses, Proviso. whereby the said reserved fund is diminished, no dividend shall be made to the fire companies until said loss or losses shall be made good from the surplus profits over and above the ten per centum hereby authorized to be divided among the stockholders. Section 16. That the president and directors shall have power President and dito appoint a secretary, and such other clerk and officers under rectors, powers of, &c. them as shall be necessary for the transacting the business of said company, and may allow such salaries as they shall judge reasonable ; to provide for the purchase, sale or other disposition, and transfer of all shares of stock belonging to any person who shall cease to be a member of a fire company, and omit for sixty days to dispose of and transfer the same to some person or company entitled under this charter to hold the same ; to provide for allowing the executors or administrators of deceased stockholders to dispose of and transfer any stock which shall have been held by such stockholder at the time of his death; to provide for ascertaining the actual value of all shares of stock 1 held by persons ceasing to be members of a fire company, and of all shares of stock which may have been held by a deceased stockholder; to provide for the sale or other disposition and transfer of all shares of stock which shall be forfeited, vested in or held by this corporation ; to provide that transfers of the capital stock shall only be made to fire companies, to the association for the relief of disabled firemen, to persons in trust for fire companies, to members of fire companies in the city of Philadelphia or to this corporation, and to regulate the manner of making such transfers, so as to make them valid and effectual; to provide for compensating the president of the company; to provide for the appointment of a president pro tempore, who shall exercise the authority of the president for the time being ; to pass such by-laws and make all such rules and regulations, and the same from time to time to alter or annul, as may be deemed necessary to the full exercise of the power hereby granted and mentioned, and not being contrary to or inconsistent with this act, the constitution and laws of this state or of the United States. Transfer of stock Section 17. That the stock of this company may be assigned and transferred on the books of the company, either in person or by attorney only; but no stockholder shall be permitted to make a transfer or receive any dividends, who is indebted to the company, until such indebtedness is satisfied, or secured to the satisfaction of the president and board of directors. Meetings of Section 18. That the president and directors may call a genstockholders. eral meeting of the stockholders, for any purpose relative to the affairs of the company, giving at least fifteen days' notice thereof, in two or more daily newspapers of the city of Philadelphia ; and any number of stockholders, not less than forty, holding not less than five hundred shares of the company, may at any time apply to the president and directors to call a general meeting of the stockholders, for any purpose relative to the affairs of the company; and if the president and directors refuse to call such meeting, the said stockholders shall have power to call said general meeting of the stockholders, giving at least fifteen days' notice, in two or more daily newspapers of the city of Philadelphia, specifying in such noiice the object of such meeting. Annual oleotion Section 19. That should it so happen, that from any cause of president and whatsoever, that the annual election of president and directors directors. should not take place, in any year, on the day hereinbefore appointed for the purpose, this company shall not for that reason be dissolved, but such election may be lawfully held on such convenient day thereafter as may, for that purpose, be fixed on by the president and directors, they causing ten days' notice thereof to be given in two or more of the daily newspapers published in the city of Philadelphia. JOHN M. THOMPSON, Speaker of the House of Representatives pro tem. WM. M. FRANCIS, Speaker of the Senate. APPROVED— The second day of April, Anno Domini one thousand eight hundred and sixty. WM. F. PACKER. To incorporate the Female Domestic Missionary Society for the support of the Gospel in the Almshouse of the city of Philadelphia. WHEREAS, For about forty-five years past some ladies of Phila- Preamble. delphia have been associated together under the above title, and have been much encouraged in their labor of love during that time, and believing that the interests of the mission would be better secured by its being incorporated, and becoming a body politic in law; therefore, 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 Eliza M'Kean, Sarah M. Lisle, Mary Cowell, Ann Hartung, Corporators. Sarah Boylan, Eleanor A. Lapsley, Caroline M. Tate, Nancy O'Brien, Anna Purves, Mary Campbell, Mary Jane Miliken, Phoebe Bell and Mary Stewart, and their successors, and all persons who may hereafter be associated with them, in accord 1 ance with the conditions hereinafter named, are hereby created a body politic and corporate, in deed and in law, by the name of “ The Female Domestic Missionary society for the support of Name. the gospel in the almshouse and vicinity of the city of Philadelphia ;” and by that name shall have perpetual succession, and be able to sue and be sued, implead and be impleaded, in any Powers and privi. court of law or elsewhere; and shall be able to receive, take, leges. have, hold and enjoy, to them and their successors, for the use of the said society, any estate in lands, messuages, tenements and hereditaments, goods, chattels, money or effects of whatsoever nature, by gift, grant, bargain, sale, assurance, devise or bequest, from any body corporate or person whatsoever, and the same, or any part thereof, to sell or dispose of at pleasure; and to make, have and use a common seal, and to break, alter and renew the same at pleasure; and generally to do all and every other matter or thing which any corporation or body politic lawfully may or can do to carry into effect the object and purposes set forth in the succeeding sections: Provided, That the clear Proviso. yearly income or profits of all estate had and enjoyed by the said society shall not exceed the sum of three thousand dollars. CONSTITUTION. Section 2. This society shall be known by the name of “ The Name. Object. THE SESSION OF 1860. . 738 LAWS OF PENNSYLVANIA Body tent with this named shall the United caful performance Transfer of stock SECTION shall be prescribed by and trans sers shall have power to fill or by at in their body by death or othermake .c board of managers may enact such by the ces for their government as they may deem Meetings of wvided, That the said rules and ordinances, or any stockholders. ve not repugnant to the constitution and laws of the States, or the constitution and laws of this common..th. SECTION 8. The stated and special meetings shall be held at such times and in such way and manner as shall be directed in the by-laws: Provided, That one stated meeting be held in the month of March of each year. Section 9. Any person may become a member of this society by contributing annually any sum of money not less than one dollar. Section 10. That no misnomer of the said corporation shall defeat or annul any gift, grant, devise or bequest to the said society: Provided, The intent of the party making the same shall sufficiently appear on the face of the will, gift, grant or other writing, whereby an estate or interest was intended to be given or passed to the society. JOHN M. THOMPSON, Speaker of the House of Representatives pro tem. WM. M. FRANCIS, Speaker of the Senate. APPROVED— The second day of April, Anno Domini one thousand eight hundred and sixty. WM. F. PACKER. stership. Alisnomer. |