hundred and forty, and two hundred and forty-one, shall be a separate town by the name of Portage; and the first town meeting shall be held on the first Tuesday of April next, at the house of John B. Page, in said town.

Church tract 3. And be it further enacted, That all the remaining part of the said town, shall be a separate town by the name of Church Tract, and the first town meeting shall be held on the first Tuesday of April next, at the house of John Bellows, in said town.

4. And be it further enacted, That as soon as may be, after the first Monday in May next, the supervisors and overseers of the poor of the aforesaid towns shall, by notice to be given by the supervisors thereof, or some one of them, for that purpose, meet together and apportion the poor maintained by the said town of Nunda, and the money for the use of the poor belonging to the same previous to the division thereof, agreeably to the last tax list, and each town shall forever thereafter support its own poor.

5. And be it further enacted, That the school monies of the town of Nunda, for the year one thousand eight hundred and twenty-six, shall be distributed in the same manner as if this act had not passed.

CHAP. 60.

AN ACT for the relief of Henry S. Northrop.

Passed March 8, 1827.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That it shall and may be lawful for the sheriff of Dutchess county to discharge Henry S. Northrop, from his imprisonment by virtue of a certain writ of capias ad satisfaciendum in favour of. the people of this state, and whereon the said Henry is now confined in the jail of Dutchess county, on the said Henry S. Northrop making his bond to the people of this state, payable on demand, for the amount of said judgment, together with the sheriff's fees on which said writ was issued, and which bond shall be deposited with the sheriff of said county, subject to the order of the attorney-general of this state.

CHAP. 61.

AN ACT creating an additional Term of the Courts of Common Pleas in and for the County of Queens.

Passed March 8, 1827.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That from and after the first day of January, in the year one thousand eight hundred and twentyeight, there shall be holden in the said county of Queens, an additional term of the court of common pleas, and shall commence on the third Tuesday of February, in each year, and may continue and be held until and including Saturday in the same week, and

shall be denominated the February term of the said courts, but no issue of fact shall be tried by a jury at any of the said terms of February.

CHAP. 62.

AN ACT to loan the credit of the People of the State of NewYork, to the President, Managers and Company of the Delaware and Hudson Canal Company, and for other purposes.

Passed March 10, 1827.

sand dollars

the comp.

1. BE it enacted by the People of the State of New-York, rep- Five hunresented in Senate and Assembly, That it shall be lawful for the dred thoucomptroller of the state of New-York, and he is hereby directed to of stock to issue, to the president, managers and company of the Delaware be issued by and Hudson canal company, in such manner and under such re- troller. strictions as in this act provided, special certificates of stock, to the amount of five hundred thousand dollars, for the redemption of which and the due payment of interest thereon, (as in this act pro- Faith of the vided) to the owners of such stock, the faith and credit of the peo- state pledg ple of this state is hereby pledged.

ed.

2. And be it further enacted, That the said stock shall be issued stock how by the comptroller, in sums not exceeding one thousand dollars, issued. and not more than one hundred thousand dollars at one time; the first one hundred thousand dollars on the delivery of the security by this act provided, to be given to the people of this state, for the said loan of five hundred thousand dollars: and before the comptroller shall issue stock beyond the first sum of one hundred thousand dollars, the president, managers and company of the Delaware and Hudson canal company, shall deposite with the said comptroller, the monthly accounts of the agent of the said com- Accounts of pany rendered to them, and signed by the said agent, and approved to be renderand countersigned by the president and treasurer of the said com- ed. pany, shewing the expenditure on said canal, of the amount of the stock previously issued by the said comptroller; which accounts, so attested, shall be a sufficient voucher to the comptroller for a farther issue of stock, until the whole sum of five hundred thousand dollars is issued.

expenditures

ble.

When re

3. And be it further enacted, That the stock shall be made Stock how payable to the said corporation, or their order, and may made be transfer- paya, red by the said corporation at their pleasure, and shall bear an interest of five per cent, payable quarter yearly, at the office of the said Interest. company in the city of New-York,and shall be redeemable at the pleasure of the state, at any time after the year one thousand eight hundred and forty-seven, which certificates shall be transferable only in person, deemable. or by attorney, legally constituted, at the office of the said company in the city of New-York, in books to be provided for that purpose. 4. And be it further enacted, That the president and treasur- Notice and er of the said company, shall cause public notice for at least ten days to be given in two of the daily newspapers printed in the city of New-York,of the time and place at which the said certificate of stock

Transters

sale of stock.

will be sold, and the said certificates shall be sold at such time and Premiums place at public auction to the highest bidder, and the amount of any premium received on such sales, or on any sales of the said certificates, shall be paid into the treasury of this state, to be appropriated to the common school fund.

given to

school fund.

Certificates

divided or

5. And be it further enacted, That whenever any holder of any of stock how such certificates shall desire to transfer the same, and to divide any consolidated certificate he may hold, or to consolidate any such certificates, he shall be authorised to do so upon surrendering the same to the said company, and thereupon the said company may issue new certificates of stock to the amount of such as shall have been surrendered, under their corporate seal, which shall be countersigned by the recorder of the city of New-York, to whom the said original certificates shall be delivered, to be by him returned or transmitted to the comptroller, and for countersigning every such certificate the said recorder may charge and receive the sum of ten cents. The said certificates shall express the authorityof the company to issue the same, and the terms, times and place of the payment of the principal and interest.

security.

How ap

proved.

And record

ed.

6. And be it further enacted, That for the purpose of comCanal to be pletely securing the people of the state of New-York from any risk assigned as or responsibility incurred by the pledge of their credit as aforesaid, the comptroller of this state, with the advice of the attorney-general thereof, is hereby authorised and directed, before he issues the said stock, or any part thereof, to obtain from the said company a good and sufficient assignment to the people of the state, by way of mortgage or other collateral security, of the said Delaware and Hudson canal, already made or hereafter to be made, with all the lands and tenements, rights, members and privileges thereunto belonging or in any wise appertaining, as heretofore granted or hereafter to be granted to the said company, or existing by virtue of the laws of this state and of the state of Pennsylvania; which said mortgage or other instrument to be taken, shall be recorded in the office of secretary of state, in the same manner and for the same purpose that deeds and other securities upon real estate are there recorded; and in case of the non-payment of the interest on the said special stock, at the time of payment thereof, or in case of the non-redemption of the said special stock, at the time appointed therefor as aforesaid, that then and in either case it shall and may be troefde. lawful for the said comptroller to proceed by due course of law to sell the premises to be pledged as aforesaid, or such portion thereof as may be necessary, to the highest bidder, due notice being given of such sale, or to purchase the same in for the benefit and security of the state, for such amount as the state shall be then liable for on account of its faith and credit being so pledged as aforesaid, if it shall be deemed necessary for the better security of the people of this state; and in case the said president, managers and company, shall faithfully comply with the provisions aforesaid, in the redemption of the said special stock aforesaid, and of the punctual payment of the interest thereof in manner, and at the times aforesaid, that then and in such case the comptroller shall release, discharge, cancel and give up to the said company all and all manner of securities so taken as aforesaid, from the said company, and the said company shall be fully released and discharged from the same for ever.

Duty of comp troller in

fault.

When secu. rities to be

given up.

dred thou

ed by the

7. And be it further enacted, That it shall and may be law- Three hunful for the president, managers and company of the Delaware and sand dollars Hudson canal company, to raise on the general credit of the said may be rais company by loan, upon such terms as shall be approved of by company. a majority of the board of managers of said company, a sum of money not exceeding three hundred thousand dollars, by a pledge of all or any portion of the said canal or property connected therewith, and held by the said corporation, if they shall deem such loan necessary to carry into effect more effectually the special objects of their canal incorporation: Provided, That such loan shall not be Proviso made or effected until the sum of five hundred thousand dollars raised on the loan of the credit of the people of this state, shall have been wholly expended by the said company on their said canal, or works connected therewith, and incident and necessary thereto, and that no part of such loan shall be used for or employed in banking by the said company: And provided further, That every written instrument to be executed by the said company by way of pledge, mortgage, or other collateral security, upon the said canal, or any other property connected therewith, for the purpose of effecting the loan authorised by this section of this act, shall contain within it a recital that such property is already pledged to the state, and the sum for which it is so pledged.

from taxation

8. And be it further enacted, That until the average annual income of the said corporation, from the time of its commencing business, shall amount to six per cent per annum, on its whole cap- Exempt ital, the president, managers and company of the Delaware and Hudson canal company, shall not be liable to be taxed or assessed, as an incorporated company, under any present or future law for the assessment and collection of taxes, on any property held by them, on or near the canal, and necessarily connected therewith, or for the bed of the said canal: Provided, That this exemption shall not extend beyond the period of six years from the passing of this act: Provided, That nothing in this act contained shall be taken to give any person a lien on the premises to be mortgaged or pledged to the state prior to the lien of the state.

Proviso.

9. And be it further enacted, That this act is declared to be A public act a public act, and shall be favourably construed in all courts, for every beneficial purpose herein contained.

CHAP. 63.

AN ACT for the relief of Matthew D. Danvers.

Passed March 10, 1827.

BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That it shall be the duty of the sheriff of the county of Washington, to discharge Matthew D. Danvers from imprisonment at the suit of the people of this state, on receiving from the said Matthew D. Danvers, his bond to the people of this state, conditioned for the payment of the amount for which the said Matthew D. Danvers is imprisoned, together with the sheriff's

Preamble.

Corporation created.

Name.

General powers.

Proviso.

Capital stock

Shares.
Transfers.

Choice of trustees.

Present trustees how long to hold.

fees, which bond shall be transmitted by the said sheriff to the attorney-general of this state.

CHAP. 64.

AN ACT to incorporate the Stockholders of the Livingston County High School Association.

Passed March 10, 1827.

WHEREAS William Wadsworth, James Wadsworth, William Fitzhugh, John H. Jones, William H. Spencer, George Hosmer, James Faulkner, Charles H. Carroll, Daniel H. Fitzhugh, Philo C. Fuller, Henry P. North, John Colt, Leman Gibbs, Orlando Hastings, Augustus A. Bennet, William Finley, Moses Hayden, Jeremiah Riggs and others, have associated for the purpose of establishing a literary institution at Geneseo, in the county of Livingston, which shall combine classical instruction with instruction in the useful arts and sciences and shall afford the means of obtaining a thorough practical education at a moderate expence: Therefore,

1. BE it enacted by the People of the State of New-York, represented in Senate and Assembly, That the several persons above named, and all such others as now are or shall hereafter become members of the said association, shall be and are hereby declared to be a body politic and corporate, by the name of the Livingston County High School Association, for the purpose aforesaid and no other, and by that name they and their successors may have perpetual succession, and shall be capable of suing and being sued, in all courts and in all actions whatsoever, and of doing and suffering all other acts necessary for the proper and convenient fulfilment of the objects of their incorporation, and may purchase and hold any real and personal estate for the purpose aforesaid: Provided, That the value thereof shall not exceed the sum of twenty-five thousand dol lars.

2. And be it further enacted, That the capital stock of the said corporation shall not exceed twenty-five thousand dollars, and shall be divided into shares of twenty-five dollars each, which shall be deemed personal property, and be transferrable in such manner as the by-laws of the said corporation shall prescribe; and whenever any of the said shares shall have been duly transferred either by operation of law, or otherwise, the assignee or assignees shall be entitled to all the privileges of an original stockholder.

3. And be it further enacted, That the concerns of the said corporation shall be managed by sixteen trustees, to be chosen annually by the stockholders, on the first Monday in September in each year, in such manner as shall be directed by the by-laws of the said corporation, each stockholder being entitled to as many votes as he owns shares of stock.

4. And be it further enacted, That the persons elected trustees by the said association on the first Monday in September last, shall be trustees of the said corporation until the first Monday in September of the year one thousand eight hundred and twenty-seven, and until others shall be duly elected; and that the real estate