Page:United States Statutes at Large Volume 5.djvu/40
4 TWENTY—FOURTH CONGRESS. Sess. I. Ch. 40. 1836. The property Sec. 2. And be it furtherl enacted, That the property, real and per. <>Y*l¤·*= 1**9 °°“?‘ Sena], owned by the latte fire insurance company ofA1ex:-mdnn, be, and
"°S"°d m the eame is hereby vested in the company newly created, subject, how.
` ever, to all debts, contracts, and engagements of the former company. Parts of the Sec. 3. And be it further enacted, That an act of Congreee, pegged A<=¢¢>fC°¤S'°SS on the ninth day of March, eighteen hundred end fourteen, entitled * ep
- ’;_£;3’ ch' 24’ act to incorporate st fire insurance company, in the town of Alexandria,
` in the District of Columbia," with the exception of the. first, second, and tenth sections thereof, be, and the same is hereby revived and declared to be in full force as to the company hereby created, and thet the company hereby created, shall have all the powers and capacities which were granted to the former company by the stud act; and shall be subject to the payment of all debts_due, or contracted by the former company, and shall be chargeable with all their contracts. _ Election of Sec. 4. And be it further enacted, That the election of president and gH{3f's• when directors as made by the stockholders of the former company on the first ° Monday in November last, be, and the saine is hereby confirmed; that the president and directors shall contmue m office for one year lrom the first Monday in November last, and until others shall he chosen ID their stead; and that all acts by them done within the provisions of the former charter shall be, and are hereby declared to be binding and obligatory on the company hereby created. _ _ Sec. 5. And be it further enacted, That this act shall continue m force, for the term of eighteen years, from and after the passing thereof} and until the end of the session of Congress then next following. Arrnovnm February 17, 1836. Snrurn I. ·-———— F°b_ 25, 1836 Gun. XL.-dn Act to extend the charters of the Beck of Columbiajn Georgetown, ...T.__. and the Bank of dlexandria m the czty qf.dlcacandna. [Expmd'] Be it enacted, by the Senate and House of Represcntat£ves of the United States of America in Congress assembled, That to enable the president The ¢h¤r¢¤r¤ and directors of the Bank of Columbia in Georgetown, and the presi- %f;f;‘g"dm dent und directors of the Bank of Alexandria in the city of Alexandria, 4th of Much, to close all the concerns of the said banks, to recover the debts due to 183% said banks, or either of them, to pay the sums due from said banks or either of them, and to divide the capital and profits which may remain among the stockholders of said banks, in proportion to their respective interests, the charter of the said Bank of Columbia, and the charter of the Bank of Alexandria, shall be, and are hereby, extended and continued and limited to the fourth day of March, one thousand eight hundred and thirty-nine; and that ell laws now in force, imposing penalties, or inflicting punishments, for crimes or offences committed in relation to said banks, shall be, end the same are hereby, declared to be extended and continued, and to remain in force, to the same period of time: Prcviso. Provided, That no new discounts shall be made by either of said banks, except. such as may be deemed proper to renew such notes as have already been discounted, nor any promissory note thereof be put in (ire. They have a tendency to keep premiums down to the lowest rates, and to uphold institutions of this sort, so essential to the present state of the country for the protection of the vast interests embarked m manufactures, nnd_0n consignments of goods in warehouses. Ibid. Ofgdegtopgtzn pnpultcy of rn;u?nce are of general connznei-cial law, end depend (upon the construction or customs. misurance, w l0 is by no means local in us character, or regulat by any local policy 'l‘he Circuit Court charged the jury, that ut law, whatever might be the case in equity, mere parol. notice of another insurance on the same property wes_ not a compliance with the terms of the policy; and that it was necessary in the case of such prior policy, that the same should not only be notified to the company, but should he mentioned in or endorsed on the policy; otherwise the insurance was to be V01d and of no eiYect. _ Held, that this instruction of the Circuit Court was correct. It never can be progglgglggdcghat the strpultttron m_ the. policy as cornplied with, when there hoe been no such mention or emm. Im. as i positive y requires , without which at declares that the policy shall be void and of no
