for the period of three years, at the expiration of which time a new.commission may be applied for by the trustees in their discretion, and thereafter once in three years a like application may be made. The company may make Use of wa- any agreements, contracts, grants, and leases, for the sale, ter by indi- use and distribution of water, that may be agreed upon between said company and any individuals, associations, and corporations, which agreements, contracts, grants and leases shall be valid and effectual in law. viduals. Penalty for injuring works. Powers. Liability of ers. § 17. Any person who shall maliciously or wilfully destroy or injure any of the works or property of said company, or who shall maliciously or wilfully commit any act which shall injuriously affect or tend thus to affect the water of said company, shall be guilty of a misdemeanor, and may be punished by fine or imprisonment or both in the discretion of the court, and shall also forfeit and pay to the company, treble the damages sustained thereby, to be recovered in any court having cognizance thereof with costs. 18. The corporation hereby created shall possess the powers and be subject to the provisions of title three, chapter eighteen of the first part of the Revised Statutes, so far as the same are applicable and not otherwise provided for in this act. . § 19.. The stockholders of said company shall be indistockhold- vidually liable for the payment of the debts of said company, to an amount equal to the amount of the stock they severally shall have subscribed or held in said company over and above such stock, to be recovered of the stockholder who is such when the debt is contracted, or of any subsequent stockholder, and any stockholder who may have paid any demand against said company either voluntarily or by compulsion, shall have a right to resort to the rest of the stockholders who were liable to contribution. trustees. Liability of 20. No person holding stock in said company, as executor, administrator, guardian or trustee, and no person holding such stock as collateral security, shall be personally subject to any liability as a stockholder of said company, but the person pledging said stock shall be considered as holding the same, and shall be liable as a stockholder accordingly, and the estates and funds in the hands of such executor, administrator, guardian or trustees shall be liable in like manner, and to the same extent, as the testator or intestate, or the ward or person interested in such fund would have been, if he had been living and competent to act, and held the stock in his own name. of liability. § 21. No stockholder shall be personally liable for the Limitation payment of any debt contracted by said company, which is not to be paid within one year from the time the debt is contracted, nor unless a suit for the collection of said debt shall be brought against said company within one year after the debt shall have become due; nor shall any suit be brought against any stockholder until an execution against the company shall be returned unsatisfied in whole or in part. how made. §22. Every contract to be made under this act by Contract which said company shall obtain credit, shall be in writing, and there shall be attached to the copy of said contract, delivered to the creditor, a printed copy of the twentyfirst section of this act. § 23. This act shall take effect immediately. Chap. 97. AN ACT to enable Mary Louisȧ Powers and her trustee to sell and convey, or to mortgage certain trust property. Passed April 8, 1851. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: § 1. Mary Louisa Powers, the wife of George A. Powers, and William Powers her present trustee, or such person as may hereafter be appointed such trustee in his place, are hereby authorised, with the consent of said Mary Louisa Powers, to mortgage, sell, dispose of, alienate, assign and convey to any person or persons, and on such terms as they may think proper, all or any of the property conveyed by said Mary Louisa and her husband to Sarah Macomber and Edward Macomber, on trust, for the benefit of said Mary Louisa, her heirs or appointees, by deed bearing date the sixth day of November, one thousand eight hundred and forty-one; and they are also authorised to enter into any executory agreements for the purposes aforesaid, and to invest the proceeds in bonds. and mortgages, public stocks, or such other securities as the trustee shall deem proper, or in improving the unproductive property for the benefit of the said Mary Louisa, her heirs or appointees, upon the trusts delared in said deed, and to change, transfer and re-invest at discretion, upon the same trusts. § 2. This act shall take effect immediately. Chap. 98. AN ACT to amend an act entitled "An act to provide for the incorporation and regulation of telegraph companies," passed April twelfth, one thousand eight hundred and forty-eight. Passed April 8, 1851. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: 1. The directors or trustees of any telegraph company formed or incorporated under the act entitled "An act to provide for the incorporation and regulation of telegraph companies," passed April twelfth, one thousand eight hundred and forty-eight, may at any time, with the written consent of the persons owning two-thirds of the capital stock of such company, extend their line of telegraph, or may construct branch lines to connect with their main line, or may unite with any other incorporated telegraph company. §2. This act shall take effect immediately. Chap. 99. AN ACT for the relief of the Firemen's Benevolent Associa tion of Buffalo. Passed April 8, 1851. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: §1. The money directed to be paid to treasurers of fire departments, or when no such officer exists in any of the cities or incorporated villages of this state, to the treasurer of such city or village in the act entitled "an act further to amend the acts in relation to insurances on property in this state made by individuals and associations unauthorized by law," passed March thirtieth, eighteeen hundred and forty-nine, is hereby directed to be paid in the city of Buffalo, to the treasurer of the "Firemen's Benevolent Association" of Buffalo. § 2. This act shall take effect immediately. Chap. 100. AN ACT to incorporate the "Knickerbocker Savings Institution." Passed April 8, 1851. The People of the State of New-York, represented in Senate and Assembly, do enact as follows: §1. Anson Willis, Wilson Defendorf, Henry B. Bolster, Title. Loraine Freeman, Hiram W. Dixon, John W. Howe, John Waite, Joseph W. Savage, William A. Wheeler, John McClelland, George H. Williams, Andrew Rust, Benjamin C. Wandle, Philemon S. Owen, William Winslow, George Varian, Leonard Hazeltine, Noah Woodruff, James Pollock, Robert Rogers, John Denham, John Ives, Moses C. Edwards and Albert Gilbert, and their successors, shall be, and they are hereby, constituted a body corporate and politic, by the name of "The Knickerbocker Savings Institution," and by that name shall have perpetual succession, and may sue and be sued in any court whatever. 2. The real estate which it shall be lawful for the Real estate said corporation to purchase, hold and convey shall be, 1. Such as may be requisite for its immediate accommodation for the convenient transaction of its business. 2. Such as shall have been mortgaged to it in good faith for money loaned in pursuance of the provisions of this act. 3. Such as shall have been purchased at sales upon judgments or decrees obtained or rendered for money so loaned; and the said corporation shall not purchase, hold or convey real estate in any other case or for any other purpose, and all such real estate as is described in the second and third sub-divisions of this section shall be sold by the said corporation within five years after the same shall be vested in it by purchase or otherwise; and the said corporation shall not, directly or indirectly, deal or trade in buying or selling any goods, wares or merchandize whatever, except in the cases where it is authorized to do so by the terms of this act, and except such personal property as may be requisite for its immediate accommodation for the convenient transaction of its business; such institution to be located in the 16th ward of the city of New-York. Trustees not to re ecive pay. Board of trustees. Vacancies. Object and § 3. The trustees of said corporation shall not, as such, directly or indirectly, receive any pay or emolument for their services. § 4. The business of the said corporation shall be managed and directed by the said board of trustees, who shall elect from their number a president, two vice-presidents, and such other officers as they may see fit; eight of the said trustees, of whom the president or one of the vicepresidents shall be one, shall form a quorum for the transaction of business, and the affirmative vote of at least seven members of the board, shall be requisite to make any order for, or to give authority to make any investment of any moneys, or to sell or transfer any stocks or securities belonging to the corporation, or the appointment of any officer receiving a salary therefrom. § 5. The persons named in the first section of this act, shall be the first trustees of said corporation, and all vacancies by death, resignation, or otherwise, in the office of trustee, shall be filled by the board by ballot without unnecessary delay, and at least six votes shall be necessary for the election of any trustee. The said trustees shall hold a regular meeting at least once in each month, to receive the reports of their officers as to the business and affairs of the corporation, and to transact such business as may be necessary; and any trustee omitting to attend the regular meetings of the board for six successive months, may, thereupon, at the election of the said board, be considered as having vacated his place, and a successor may be elected to fill the same. The supreme court may, at any time, for due cause, remove any trustee, on proper notice to such trustee, and affording him an opportunity to be heard in his defence. § 6. The general business and object of the corporation business hereby created, shall be to receive on deposit such sums as may be from time to time offered, and to invest the same in the securities or stocks of this state, or of the United States, or in the stocks or bonds of any city, authorized to be issued by the legislature of this state, or in such other manner as is authorized by this act, for the use, interest and advantage of the said depositors and their legal representatives; and the said corporation shall receive as deposits all sums of money which may be offered for the purpose of being invested as aforesaid, but not to exceed the sum of five thousand dollars from any individual, which shall as soon as practicable, be invested accordingly, and shall be repaid to such depositor when required, at such times, with such interest, and under such regulations, as the |