Seventy-Five Years of Corporate Existence, 1825 1900 PDF Download

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ISBN: 9781332214266
Category : Reference
Languages : en
Pages : 44

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Book Description
Excerpt from Seventy-Five Years of Corporate Existence, 1825 1900: A Paper Read Before the Board of Directors of "the Pennsylvania Fire Insurance Company" Of Philadelphia; March Fifth, 1900 The Act of the Legislature of the State of Pennsylvania in General Assembly met, incorporating The Pennsylvania Fire Insurance Company, was signed by Joel B. Sutherland, Speaker of the House of Representatives; William Marks, Speaker of the Senate; and approved by the Governor, J. Andrew Shulze, on the 26th day of January, 1825. Therefore, in this year, 1900, the closing of the nineteenth century, the Corporation will round out the seventy-fifth year of its corporate existence. The Capital Stock was $200,000, with the privilege of increasing the same to $400,000. The Charter provides for perpetual succession, with the other usual corporate rights and provisions, except in that real estate was to be owned only to the extent that may be necessary to accommodate its business, or that shall be taken and held in security for the payment of debts due the Corporation. This is further restricted in that the clear yearly income of the said real estate shall not at any time exceed the sum of $10,000. It was provided that the Board of Directors should consist of nine members; that the first Directors shall be Jonathan Smith, R. A. Caldcleugh, William Boyd, Thomas Kittera, Henry Toland, David Correy, Paul Beck, Jr., John H. Stevenson, and John R. Neff, who were to hold office until the first Monday in September, 1825. The President was to be elected by the Directors, and to be one of their number. The number of votes that a tabulated and specified number of shares of the Capital Stock should vote at an annual election was prescribed by the Charter, and the maximum number of votes cast by any stockholder was limited to twenty-five. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.