Chap. 0069 An Act to incorporate the President, Directors and Company of the Charles River Bank in Cambridge.

Sec. 1. Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, That Asahel Stearns, Israel Porter, Levi Farwell, William J, Whipple, Abel Willard, Eliab W. Metcalf, Samuel O. Mead, and James Brown, their associates, successors and assigns shall be, and they hereby are created a corporation, by the name of the President, Directors .and Company of the Charles River Bank, and shall

so continue nntil the first day of October, which shall be in the year of our Lord one thousand eight hundred and fifty one, and shall be entitled to all the powers and privileges, and subject to all the duties, liabilities and requirements contained in an act passed on the twenty eighth day of February, in the year of our Lord, one thousand eight hundred and twenty nine, entitled " an act to regulate banks and banking," and to the further provisions contained in an act passed the twenty eighth day of February in the year of our Lord one thousand eight hundred and thirty one, entitled " an act to continue the banking corporations therein named, and for other purposes."

Sec 2. Be it further enacted, That the stock in said bank shall be transferable only at its banking house, and in its books, and no part thereof shall be transferred by way of security for the performance of any obligation whatsoever, until two years from the payment of the first instalment into said bank.

Sec 3. Be it further enacted, That the capital stock of said corporation shall consist of the sum of one hundred thousand dollars, to be divided into shares of one hundred dollars each, to be paid in such instalments, and at such times as the stockholders may direct. Provided, the whole be paid in, within one year from the passing of this act.

Sec 4. Be it further enacted, That the said bank shall be established in the town of Cambridge, and that any three of the persons before named shall be authorized to call the first meeting of said corporation by advertising the same in any newspaper

published in the county of Middlesex, ten days at least before said meeting.

[Approved by the Governor, February 29, 1832.]