and if at the said time and place, any of the persons summoned do not attend, the said sheriff or summoner shall immediately summon as many as may be necessary, with the persons in attendance as jurors, to furnish a pannel of eighteen jurors; and from them each party or his or her or their agent or attorney, or if either be not present, in person or by agent, the sheriff or summoner for him her or them may strike off three jurors, and the remaining shall act as a jury of inquest of damages; and before they act as such, the sheriff or summoner shall administer to each of them an oath or affirmation that they will justly and impartially value the damages which the owner or owners will sustain by the use or occupation of the land required by the said president and trustees; and the said jurors shall reduce their inquisition to writing, and sign and seal the same, and it shall be jury to be in writing and sent to the circuit court of said county; and by sent to circuit said clerk filed in his office, and shall be confirmed by said court at its next session, if no sufficient cause to the contrary be shown; and when confirmed, the same shall be recorded by said clerk at the expense of said president and trustees; but if set aside, said court may direct another inquisition to be taken in the manner above prescribed; said inquisition shall describe the property taken, or the boundaries of the land condemned: such valuation when paid or tendered to the owner or owners of said pro Inquisition of court. Vahitost unperty, his her or their legal representatives, d to shall entitle said president and trustees to the estate and interest in the same thus valued, as fally as if it had been conveyed by the owner or owners for such term of time as the said improvement shall be occupied by the public; and if the valuation be not received when tendered, it may at any time thereafter be received without cost; and the said sheriff or summoner and jurors shall be allowed the ordinary fees. SEC. 6. This act to take effect and to be in be to take force from and after its passage, and not to continue in force more than two years unless said work be commenced within that period. Approved August 25, 1835. Antholy to es expstal $100, AN ACT to amend an act entitled an act to incorporate the Detroit and St. Joseph Rail Road Company. SEC. 1. Be it enacted by the Legislative Council of the Territory of Michigan, That the stocksh a bank; holders of the Detroit and St. Joseph Rail Road company be, and they are hereby authorised to establish a bank at the village of Ypsilanti, the capital stock whereof shall for the present be one hundred thousand dollars, to be divided into two thousand shares, each being fifty dollars; and the subscriptions towards constituting said stock, shall be open at such times and places under the superintendence of the president and directors of said company, as they may desig How subscrip nate, giving at least three weeks public notice in said territory; and the subscription aforesaid tioned. Amount to be scribing, and when balance to be paid. given when in SEC. 2. One tenth part of the amount of each share shall be paid to the said president and di- paid on subrectors in specie, at the time of subscribing, and the balance shall be paid in such instalments, at such time, as the directors for the time being may require: Provided, That whenever the payment of any instalment is required by the direc- Notice to be tors, they shall give at least sixty days notice stalments to be thereof, in a newspaper printed in this territory; paid. but no one instalment shall exceed five dollars on each share: Provided, further, That no note or evidence of debt shall be discounted or received by the directors in payment of any instalment called in or required to be paid, with intent of providing the means of furnishing such payment, or with intent of enabling any stockholder to witheraw any part of the money paid in by him on his stock. J Proviso. Stockholders SEC. 3. All persons who shall become stock to be a body, holders of said bank, shall be and they are here corporate and politic. ers, &c. by constiuted, ordained and declared to be a body corporate and politic, in fact and in name, by the name of "the President, Directors and Its style, pow- Company of the Bank of Ypsilanti ;" that by that name they and their successors shall and may have continued succession, and shall be persons in law capable of suing and of being sued, pleading and being impleaded, answering and being answered, defending and being defended, in all courts and places whatsoever, and in all manner of actions, suits, complaints, matters and causes whatsoever; and that they and their successors may have a common seal, and may change and alter the same at their pleasure; and that they and their successors, by the name of "the President, Directors and Company of the Bank of Ypsilanti," shall be in law capable of purchasing, holding and conveying any estate real or personal, for the use of said corporation. Who shall Thanage. Directors to make rules, SEC. 4. The stock, property affairs and concerns of the said bank, shall be managed by the president and directors of the said Rail Road company. SEC. 5. The directors for the time being, or a majority of them, shall have power to make by laws, &c. and prescribe such by-laws, rules and regulations, as to them shall appear needfull and proper. touching the arrangement and disposition duties, &c. Statement of of the stock, property, estate and effects of said corporation; the duties and conduct of the officers, clerks and servants emyloyed therein, and all such other matters as appertain to the business of a bank; and shall also have power to appoint so many officers, clerks and servants Their powers, for carrying on said business, and with such salaries and allowances as to them shall seem meet: Provided, That such by-laws, rules and regulations be not repugnant to the constitution or laws of the United States, or to the laws of this territory; and it shall be the duty of the said directors, whenever thereto required, to furnish to affairs, &c. the legislature or governor, a statement, urder oath or affirmation, of the condition of the bank, stating the amount of deposites, the profits on hand, the amount of bills in circulation, the amount of debts due from the directors, the amount due from the stockholders, the amount of debts due from all other persons or corporations, not, however, naming them; the amount of specie in bank, the amount of all bills of other banks, the amount of their deposites in other banks, the amount of their real estate, and all their other property not herein specified, and shall contain a true exhibit of the state of said bank. Right of terri SEC. 6. The territory shall have a right to subscribe any number of shares in said bank tory to take not exceeding in the whole, the number of stock. five hundred at any time, when by law they shall |