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AMENDMENT OF THE CONSTITUTION.

RESOLUTIONS

FOR THE AMENDMENT OF THE CONSTITUTION OF THE UNITED STATES IN THE LEGISLATURE OF NEW-YORK.

1802.

Resolved: as the sense of the legislature, that the following amendments ought to be incorporated into the Constitution of the United States, as a necessary safeguard in the choice of a President and Vice-President, against pernicious dissensions, as the most eligible mode of obtaining a full and fair expression of the public will in such election.

1st. That Congress shall, from time to time, divide each State into districts, equal to the whole number of Senators and Representatives from such State in the Congress of the United States, and shall direct the mode of choosing an elector of President and Vice-President, in each of the said districts, who shall be chosen by citizens who have the qualifications requisite for electors of the most numerous branch of the State Legislature, and that the districts shall be formed, as nearly as may be, with an equal proportion of population in each, and of counties, and, if necessary, parts of counties contiguous to each other, except where there may be any detached portion of territory, not suf ficient of itself to form a district, which then shall be annexed to some other nearest thereto.

2d. That in all future elections of President and Vice-President, the persons voted for shall be particularly designated, by declaring which is voted for as President, and which as VicePresident.

Resolved, that the president of the Senate, and speaker of the Assembly, transmit a copy of the preceding resolutions to the Senators and Representatives in Congress, from this State, with an earnest request, that they would use their best exertions for obtaining the adoption of the above amendments, or other amendments in substance equivalent, so as that the President

and Vice-President may be separately designated in voting for them, and that the electors for both may be chosen in distinct districts.

SUPPLYING NEW-YORK WITH WATER.

1802.

To the Honorable the Legislature of the State of New-York: The memorial of the subscribers, citizens of New-York, respectfully showeth—

That your memorialists have become alarmed, lest a difference of opinion about the best mode of providing the means of conveying water in pipes throughout the city (a measure which your memorialists deem of essential consequence), should prevent any law being passed on the subject.

That without desiring to interfere with the plan which, under the patronage of the corporation of the city, they understand, has been presented to your consideration, they have thought it may not be improper to suggest an alternative, in case that plan should not be improved.

It is, that a company may be incorporated with a capital not exceeding one million of dollars, to be formed by voluntary subscriptions of fifty dollars to a share, and with the necessary powers to enable them to act.

Of this capital, it may be expedient to reserve to the corporation, at its option, a number of shares not exceeding one third; and it may be provided that the recorder shall be ex-officio a director of the company.

It will likewise conduce materially to the success of the plan, if the Legislature will apply to this object, the duties arising from sales by auction. It may be a fund for raising a correspondent principal to be invested in stock of the company, from which a superior revenue may be eventually derived.

Your memorialists deeming it unnecessary to enter into further details, pray leave to bring in a bill for the above mentioned purpose.

PLAN OF THE MERCHANTS' BANK.

To all to whom these presents shall come, or in any wise concern.

Be it known and made manifest, that we the subscribers, have formed a company or limited partnership, and do hereby associate and agree with each other, to conduct business in the manner hereinafter specified and described, by and under the name and style of the "MERCHANTS' BANK," and we do hereby mutually covenant, declare, and agree, that the following are and shall be the fundamental articles of this our association and agreement with each other, by which we, and all persons who at any time hereafter may transact business with the said company, shall be bound and concluded.

I. The capital stock of the said company shall consist of one million two hundred and fifty thousand dollars, in money of the United States. The said capital stock shall be divided into shares of fifty dollars each: two dollars and fifty cents on each share shall be paid at the time of subscribing, and the remainder shall be paid at such times, and in such proportions as the board of directors shall order and appoint, under pain of forfeiting to the said company the said shares, and all previous payments thereon: but no payment shall be required, unless by a notice to be published for at least fifteen days, in two newspapers printed in the city of New-York.

II. The affairs of the said company, shall be conducted by sixteen directors, who shall elect one of their number to be the president thereof, and nine of the directors shall form a board or quorum for transacting all the business of the company, except

ordinary discounts, which it shall be in the power of any five of the directors to perform, of whom the president shall always be one, except in case of his sickness or necessary absence, when his place may be supplied by any other director, whom he by writing under his hand, shall nominate for that purpose; and until the second Tuesday in June, one thousand eight hundred and four, Oliver Wolcott, Richard Varick, Peter Jay Munro, Joshua Sands, Thomas Storm, William W. Woolsey, John Hone, John Kane, Joshua Jones, Robert Gilchrist, Wynant Van Zandt, jun., Isaac Bronson, James Roosevelt, John Swartwout, Henry I. Wyckoff, and Isaac Hicks, shall be directors of the said company; the directors from and after that period, shall be elected for one year by the stockholders, for the time being, and each director shall be a stockholder at the time of his election, and shall cease to be a director if he should cease to be a stockholder: and the number of votes which each stockholder shall be entitled to, shall be equal to the number of shares which he shall have held on the books of the company, for at least sixty days prior to the election; and all stockholders shall vote at elections by ballot, either personally or by proxy; to be made in such form as the board of directors may appoint.

III. A general meeting of the stockholders of the company shall be holden upon the first Tuesday of June, in every year (excepting in June now next ensuing), at such place as the board of directors shall appoint, by notice, to be published in two newspapers printed in the city of New-York, at least fifteen days previous to such meeting, for the purpose of electing directors for the ensuing year, who shall take their seats at the board on the second Tuesday in the same month of June, and immediately proceed to elect the president.

IV. The board of directors are hereby fully empowered to make, revise, and alter or annul, all such rules, by-laws, and regulations, for the government of the company, and that of their officers, servants, and affairs, as they, or a majority of them, shall from time to time think expedient, not inconsistent with law, or these articles of association; and to use, employ, and dispose of the joint stock, funds or property of the said company (subject only to the restrictions herein after contained) as to them, or a majority of them, shall seem expedient.

V. All bills, bonds, notes, and every contract and engagement on behalf of the company, shall be signed by the president; and countersigned or attested by the cashier of the company; and the funds of the company shall in no case be held responsible for any contract or engagement whatever, unless the same shall be so signed and countersigned, or attested as aforesaid.

VI. The books, papers, correspondence and funds of the company, shall at all times be subject to the inspection of the directors.

VII. The said board of directors shall have power to appoint a cashier, and all other officers and servants, for executing the business of the company; and to establish the compensations to be paid to the president and all the other officers and servants of the company respectively; all which, together with all other necessary expenses, shall be defrayed out of the funds of the company.

VIII. A majority of the directors shall have power to call a general meeting of the stockholders, for purposes relative to the concerns of the company; giving at least thirty days' notice, in two of the public newspapers, printed in the city of New-York, and specifying in such notice the object or objects of such meeting.

IX. The shares of capital stock, at any time owned by any individual stockholder, shall be transferable on the books of the company, according to such rules as, conformable to law, may be established in that behalf by the board of directors; but all debts actually due and payable to the company, by a stockholder requesting a transfer, must be satisfied before such transfer shall be made, unless the board of directors shall direct to the contrary.

X. No transfer of stock in this company shall be considered as binding upon the company, unless made in a book or books, to be kept for that purpose by the company. And it is hereby further expressly agreed and declared, that any stockholder, who shall transfer in manner aforesaid all his stock or shares in this company, to any other person or persons whatever, shall ipso facto cease to be a member of this company; and that any person or persons whatever, who shall accept a transfer of any stock or

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