dollars; but every stockholder and every person injured shall be entitled to a credit on the books of the company for any sum less than five dollars, but not for the fractional parts of a dollar.

profits how

vested.

11. The surplus profits designated by the certificates Surplus shall be loaned on the pledge of, or invested in the stocks to be increated by or under the laws of the United States, or in the stocks of the city of New-York, or of any incorporated bank in the said city, according to their actual cash price in the city of New-York at the time, or upon bond and mortgage upon unincumbered, improved real estate of the value, exclusive of buildings, unless the same shall be insured, of at least one-half more than the amount loaned thereon; and the interest on the said loans or investments, or profits derived therefrom shall be calculated as a part of the income of the company.

membership.

§ 12. No person insuring with the company, or holding a Provisions to certificate shall be, by virtue thereof, considered as a member of said corporation, or entitled to the amount expressed in his certificate, or any part thereof, except in the case specified in the next section.

when and

§ 13. Whenever the capital stock and the nett profits on Excess hand, after paying interest on the capital, shall exceed the sum how divided. of two hundred and fifty thousand dollars, no certificate as hereinbefore provided, shall be issued, but the excess shall be divided annually, among the stockholders, the holders of certificates, and every person effecting insurance as aforesaid, pro rata, according to the amount of stock, the certificates so held, and the amount of premium paid during the year preceding such dividend; but no fractional parts of a dollar shall be paid on such dividend, but shall be passed to the contingent account of the company, and applied to the expenses thereof.

§ 14. But no person insuring with the company, or holding Dividends, a certificate, shall be entitled at any time to any rights as to dividends from profits thereby, until the capital of the company shall be full, and seven per cent interest thereon, from the time this act takes effect, shall have been paid, or reserved to the stockholders; and in case of a deficiency in the capital and interest as aforesaid, or in any part thereof, the profits of the company shall always be first applied to meet the same.

General

yearly.

15. Within one month from the expiration of one year statement to from the time that the first policy shall have been issued after be made this act takes effect and within the first month of every subsequent year, the company shall cause to be made and printed a general statement of the affairs of the company, which shall

contain,

1. The amount of premiums paid and income received during the preceding year;

2. The amount of expenses of the company during the same year;

3. The amount of losses paid during the same year:

4. The application of the balances, according to the provisions of this act;

5. The manner in which the surplus profits are invested.

A printed copy of such statement shall be delivered, on request to each stockholder, and to every person insured or holding a certificate.

Official acts confirmed.

Saving

clause.

Corporation created.

CHAP. 297.

AN ACT to confirm the official acts of Spencer Whiting, as justice of the peace.

Passed April 12, 1842.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

§ 1. All the proceedings which have been had by and before Spencer Whiting, as a justice of the peace of the city of Hudson, in the county of Columbia, and all official acts done by him since the 13th March, 1840, shall be deemed valid and effectual, to the same extent as if his appointment had been legally made.

§2. This act shall not effect the right of any party, to any suit or legal proceeding which may have been had or commenced in consequence of the invalidity of any proceedings before the said justice previous to its passage. § 3. This act shall take effect immediately.

CHAP. 298.

AN ACT incorporating the fire department in the village of

Oswego.

Passed April 12, 1842, by a two-third vote.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows :

§ 1. That all persons who now are or hereafter shall become members of the fire engine, hook and ladder and hose companies, not exceeding twenty-four in each company, of the village of Oswego, in conformity with the ordinances of the corporate authorities thereof, shall be, and hereby are ordained, constituted and declared to be a body corporate and politic, in fact and in name, by the name and style of "The fire department of the village of Oswego;" and that by that name they and their successors shall and may have perpetual succession, and shall be persons in law, capable of suing and being sued, in all courts and in all actions within the jurisdiction of the state of New

York; and that they and their successors may have a common seal, and may change and alter the same at their pleasure; and also that they and their successors by the name of "The fire department of the village of Oswego," shall be in law capable of purchasing, holding and conveying any estate, real or personal, for the use of said corporation; provided the amount of real and personal estate so held shall not at any time exceed the sum of ten thousand dollars.

general

§ 2. The firemen of the several fire companies constituting Annual this corporation shall hold a general meeting on the first Satur- meeting. day following the first Friday of January in every year, at which annual meeting they shall choose two fire wardens from each company of firemen, who, with the chief engineer as president, and his associates, according to their rank as vicepresidents, shall constitute a council, and shall exercise such powers as are hereinafter committed to them, and which appointment shall not exempt them from their other duties as firemen.

be chosen.

3. The said council shall, on the first Monday following Officers to the first Saturday of January in each year, choose out of their own body a secretary, treasurer and collector; and the first fire wardens shall be Eli W. Warner, Luther Wetherby, Timothy Pitkin, Samuel Hascy, Daniel McCarty, James McNair, John Fayette, Joseph C. Wellington, Joseph Wilber and Alpheus Steward, to hold their respective offices until others are apappointed in their stead, agreeably to the provisions of this act; and in case of any vacancy in the office of fire wardens, such vacancy shall be filled by the company in which it occurs, at a special election held for that purpose: and in case of a vacancy in the office of secretary, treasurer or collector, such vacancy to be filled by the council at their next meeting.

§ 4. Two-thirds of the said council shall constitute a quorum, and shall have power to make and prescribe such laws, ordinances and regulations, not inconsistent with the laws of this state, as shall be by them deemed necessary for the proper management of the affairs, and the disposition of the funds of the said corporation, and shall have full power to appoint all meetings, both special and ordinary, (except the one hereinafter provided for,) and shall also designate at least two days in each and every year as days of public exercise, review and inspection, and all such other matters as appertain to the business and purposes for which the said corporation is by this act instituted, and for no other purposes whatever.

5. And in case any election shall not be held on the day, when pursuant to this act it ought to have been held, the said corporation shall not on that account be deemed dissolved, but that it may be lawful to hold such election on any future day, agreeably to the ordinances and regulations of the said corporation.

Quorum.

Election.

§ 6. Every person who on the first day of June next shall Privileges of have been a fireman in the village of Oswego, for ten or more

firemen.

In case of removal.

Proof. of service.

Riaht to repeal.

years, and shall continue to serve as such for one year thereafter; and every person who shall have been a fireman in the said village for six years or a shorter period, previous to the first day of June aforesaid, and shall continue to serve as such so long thereafter as to make the whole term of service ten years; and every person who shall become such fireman after the said first day of June next, and shall serve as such for ten years thereafter, shall, during and forever after such service, be exempted from serving as jurors in any of the courts of this state, and from all military duty except in cases of war, insurrection and invasion.

7. The members of this fire department in case of removal from Oswego, and becoming members of a fire department of any village or city within this state, shall be allowed the time they have served as firemen in the village of Oswego, in the village or city to which they have removed, upon producing a certificate of such service, signed by the chief engineer, and bearing the seal of this corporation; and when such fireman shall have served for so long a time thereafter as shall make his whole term of service the same as required of the firemen in the village or city removed to, he shall be entitled to all the privileges and exemptions herein secured to the members of this department.

§ 8. A certificate signed by the chief engineer and the foreman of the company to which any member of this department belonged, and bearing the seal of this corporation, declaring the term of service of said member, as required by the provisions of this act, to have been fully completed, shall be sufficient evidence to entitle him to all the privileges and exemptions herein secured to the members of this department.

9. This act shall take effect from the time of its passage, and the legislature may at any time alter, modify or repeal the

same.

Damages to be appraised.

CHAP. 299.

AN ACT for the relief of Joseph Cox and Isaac Cox.
Passed April 12, 1842.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows :

§ 1. The canal appraisers are hereby authorized and required to ascertain and appraise any damages sustained by Joseph Cox and Isaac Cox, caused to their mill and water power, by the construction of the Genesee Valley canal, and not included in the former appraisal, according to the provisions of the Revised Statutes, Part first, Chapter nine, Title nine, Article

three, of the appraisement of damages, subject to appeal to the canal board according to the provisions of said Article.

§ 2. The canal commissioners are hereby authorized and Payment. required to pay the amount of such appraisal, to the said Joseph Cox and Isaac Cox, or their representatives, when thus ascertained, out of any moneys appropriated for the Genesee Valley canal.

CHAP. 300.

AN ACT granting to John I. Coons the right to establish a ferry across the Hudson river.

Passed April 12, 1842.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

1. It shall be lawful for John I. Coons, his heirs or assigns, Ferry. to establish and maintain a ferry across the Hudson river for the space of fifteen years, from Saugerties Landing in the county of Ulster, to the landing place of Robert L. Livingston, Esq. and Red-Hook Landing, in the town of Red-Hook, in the county of Dutchess.

§ 2. If the said ferry be so established, safe and convenient row boats shall be kept for the conveyance of foot passengers, and row, sail, horse or steam boats for the conveyance of passengers, carriages and cattle across the said river, by the said John I. Coons, his heirs or assigns.

Boats.

§ 3. The court of common pleas in the county of Ulster, at Rates of their first session after the passage of this act, and annually ferriage. thereafter, shall establish the rate of ferriage to be taken at said ferry.

§ 4. If any higher rate of ferriage than the said court shall Penalty. establish shall be taken by the said Coons, or any person employed by him, the person or persons so offending shall forfeit and pay to the party injured the sum of five dollars, to be recovered in an action of debt, in any court having cognizance thereof.

§ 5. If any person shall set up and keep a ferry contrary to ь. the provisions of this act, in favor of the said John I. Coons, within one mile thereof, such person shall forfeit to the said Coons, his heirs or assigns, for every such offence, the sum of five dollars, to be recovered as aforesaid; but nothing contained in this act shall prevent any person from crossing said river in their own boats, and transporting their own property within the bounds thereof.

§ 6. The court of common pleas of the county of Ulster, shall, . on sufficient evidence of the non-compliance with the provisions