Terms upon which insu

rances may be made, relative to.

Annual payments.

May borrow money.

No. 147.

A Supplement

To the act, entitled "An Act to incorporate the Cumberland Valley Mutual Protection Company of Dickinson township, Cumberland county."

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 in any contract of insurance, hereafter to be made by the Cumberland Valley Mutual Protection Company of Dickinson township, Cumberland county, they shall have power and authority, at the option of the party insured, to accept any sum of money agreed upon, for such term of time so agreed upon between the said corporation and the persons agreeing with them, for said insurance; also, to stipulate for the payment of any annual sum, either in advance, or otherwise, in anticipation of losses, upon the agreement with such party that he, she, or they, shall not be subject to any assessment upon his, her, or their premium note or notes, during the period for which payment has been thus made, or agreed to be made.

SECTION 2. That when the party insured stipulates to pay, annually, any sum of money, in anticipation of losses, he, she, or they, shall be made liable to pay the same, to the treasurer of said company, or their authorized agent; and in default thereof, for such length of time as shall be provided for by the by-laws of said company, the said policy shall become null and void.

SECTION 3. That the said company shall have power and authority, from time to time, and at any time, when the operations of their business shall require it, to borrow any sum of money not exceeding thirty thousand dollars.

JOHN CESSNA,

Speaker of the House of Representatives.

GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED-The tenth day of March, Anno Domini one thou

sand eight hundred and sixty-three.

A. G. CURTIN.

No. 148.

An Act

To empower the trustees of the Fourth Presbyterian church of the city of Philadelphia to sell certain real estate.

WHEREAS, By an act of assembly of the commonwealth of Pennsylvania, passed the fifteenth day of March, Anno Domini one thousand eight hundred, all the right, title and interest of the commonwealth of Pennsylvania, in a certain city lot, situate in the city of Philadelphia, bounded east by Twelfth street, north by Lombard street, west by Thirteenth street, and south by land now, or late, of Amos Wickersham and Richard Price, containing, east and west, three hundred and ninety-six feet, and in length or depth, north and south, seventy-eight feet, was thereby vested in the trustees of the Fourth Presbyterian congregation, in the city of Philadelphia, and their successors, for ever, for the sole purpose of building a church thereon, and for the interment of their dead therein, and for no other use, intent, or purpose whatsoever :

And whereas, The said trustees of the Fourth Presbyterian congregation, in the city of Philadelphia, have erected, on the said lot, a house for public worship, and have created, thereby, a debt of seven thousand six hundred dollars, in the erection of said building; for which they executed two certain mortgages, one for four thousand dollars, and the other for three thousand six hundred dollars; and have also contracted other debts, which they are unable to liquidate, in consequence of the annual receipts of said congregation being inadequate to defray the current expenses of said congregation, and the payment of the interest on the said mortgages:

And whereas, In the western part of said lot there are but few interments, and they can be removed to the other portion of the ground, and by disposing of about eighty-five feet thereof, the said congregation would be relieved of a portion of the debt, and the intention of the grantors would thereby be more efficiently carried out; 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 John Getty, Robert Arthur, Thomas Anderson, Robert Thompson, John Barr, Robert John Rule, and William F. Anderson, trustees of the Fourth Presbyterian congregation, in the city of Philadelphia, and their successors, be and they are hereby authorized, under the corporate seal of the said congregation, from time to time, to sell and convey, in fee simple, upon payment of a certain sum or sums of money, or reserving a perpetual rent charge, subject to extinguishment upon payment of a certain sum of money, any part, or the whole, of eighty-five feet of the westernmost part of the lot

of ground attached to the said Fourth Presbyterian church, situate on the south side of Lombard street, between Twelfth and Thirteenth streets, in the city of Philadelphia, commencing eastward, from the east side of Thirteenth street, and extending eastward along the south side of Lombard street, eighty-five feet, and extending, in length or depth, southward of that width, seventy-eight feet; bounded westward by Thirteenth street, northward by Lombard street, eastward by the burial ground of the said Fourth Presbyterian congregation, and southward by ground now, or late, of Amos Wickersham and Richard Price, with the appurtenances, and to convey to the purchaser, or purchasers, a good and valid title; and the said trustees of the Fourth Presbyterian congregation, in the city of Philadelphia, and their successors, shall have power, by and with the consent of a majority of the said Fourth Presbyterian congregation, in case of the said trustees disposing of said above described ground on an annual rent charge, to convey the said rent or rents, in fee simple, and to receive the payment according to such conveyance, and release and extinguish the said rent, or rents; and no purchaser, or purchasers, of either the lands, or of the rent, or rents, shall be bound to see to the application of the said money, whether in purchase or in extinguishment, as aforesaid: Provided, That the proceeds of such sale shall be applied to the liquidation of the said mortgage debt of the said church, and for no other purpose whatsoever, until the said debt be paid: Provided, That the said trustees shall not sell or dispose of the above described ground, or any part thereof, for a less sum than five dollars per foot on annual ground rent, fronting on Lombard street aforesaid, and of the said depth southward seventy-eight feet.

JOHN CESSNA,

Speaker of the House of Representatives.
GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED The tenth day of March, Anno Domini one thousand eight hundred and sixty-three.

A. G. CURTIN.

No. 149.

An Act

To incorporate the Youghiogheny Coal Hollow Coal Company.

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 Thomas Moore, Joshua Rhodes, James D. Verner, Wil- Corporators. liam Philips, David Parke, M. Schwartzwelder, William Bagely, and Henry Shirls, and their associates, successors and assigns, be and they are hereby erected into a body politic and corporate, in deed and in law, by the name, style and title of the Title. Youghiogheny Coal Hollow Coal Company, with all the powers and privileges, rights and franchises; incident to a corporation, and in law pertaining to a body politic and corporate, and that as such they may have a common seal, with power to Seal. break, alter, and renew the same, at pleasure; to be able to sue and be sued, to plead and be impleaded, with power to Authorized to take and hold land, in fee simple, or by lease, in the county of hold lands in Westmoreland, not exceeding, at any one time, fifteen hundred Westmoreland acres, with power to sell, mortgage, lease, or otherwise dis- county. pose of the same, or any part thereof.

SECTION 2. That the said company shall have the right to Privileges. mine, and prepare for market, coal, iron ore, fire clay, and other materials of their lands; to manufacture iron, fire brick, mineral oil, and other products of their minerals, or lands, and to transport them to market, and sell and dispose of the same; and to make all such improvements, machinery and fixtures, and erections, on said lands, as they may deem necessary for their business and interests.

SECTION 3. That the said company shall have the right to May construct lay out, and construct a railroad, or railroads, from any por- railroad. tion of their land, and to connect the same with the railroad, or slackwater navigation, of any other company, incorporated by the laws of this state, at any point they may select for such connection: Provided, That the length of said railroad, Proviso. so to be made by them, shall not exceed five miles, and that in the construction of the same, the said company shall have all the powers and privileges, and to be subject to all the limitations and restrictions, of an act, entitled "An Act regulating lateral railroads," approved the fifth day of May, one thousand eight hundred and thirty-two, except so far as relates to the length of the road.

SECTION 4. That the capital stock of said company shall con- Capital stock. sist of two thousand shares, of fifty dollars each, with the power to increase the same, from time to time, in such manner as may be provided by the by-laws of said company, to an amount not exceeding four thousand shares; which said shares of stock shall be personal estate, and transferable, as may be provided by the by-laws of said company; and the above named corporators, or such of them as may act, are hereby

authorized to receive subscriptions to said stock, in such man- Subscriptions. ner as they may determine; and shall receive letters patent, Letters patent. as provided in the second section of an act regulating railroads,

approved nineteenth February, Anno Domini one thousand

eight hundred and forty-nine.

SECTION 5. That the affairs of said company shall be con- Board of manaducted by a board of managers, to consist of at least three, gers and officers. and not more than five, stockholders, who shall elect one of their number president, and appoint such other officers as the interest and business of the company may require, and fix their compensation.

By-laws.

May borrow

money and issue bonds.

Proviso.

Individual liability.

Proviso.

SECTION 6. That the said company shall have power to make and establish all such ordinances, rules and regulations, and by-laws, as they may deem necessary for managing and conducting their business, and interests, providing for the elections and meetings of the company, and of the board of managers, defining the duties of the president, and other officers, with the right, at any time, to repeal, alter, and amend the same: Provided, That the same shall not conflict with the constitution and laws of this commonwealth.

SECTION 7. That said company are hereby authorized to borrow any sum of money, not exceeding one-half of the amount of stock subscribed, to enable them to carry out the purposes of their organization, and to issue bonds for the payment of the same, on such terms, and at such rates of interest, as they may deem best, and shall have power to mortgage their property, real and personal, to secure the payment of the same: Provided, That they shall issue no bond, or mortgage, for a less amount than one hundred dollars.

SECTION 8. That the stockholders of said company shall be jointly and severally liable, in their individual capacities and estates, for all debts contracted for work and labor done, and materials furnished for said company, to be sued for and collected as is provided by the twelfth, thirteenth and fourteenth sections of an act incorporating the Lackawanna Iron and Coal Company, approved the fifth day of May, Anno Domini one thousand eight hundred and fifty-three: Provided, That said stockholders shall not be individually liable for any bonded or mortgage debt, of said company, nor shall any scire facias, as provided in the thirteenth section of said recited act, be issued after one year, from the time any debt becomes due, or other liability is incurred.

Bonus and taxes SECTION 9. That the said company shall pay to the commonupon dividends. wealth of Pennsylvania, a bonus of one-half of one per centum on the capital stock of said company, and upon any increase thereof, payable in four equal annual instalments; the first payment to be made in one year from the date hereof; and the said corporation shall also pay such taxes upon dividends, as are, or may be, provided by law.

JOHN CESSNA,

Speaker of the House of Representatives.
GEORGE V. LAWRENCE,

Speaker of the Senate.

APPROVED-The seventeenth day of March, Anno Domini one thousand eight hundred and sixty-three.

A. G. CURTIN.