Colonial records of the New York Chamber of Commerce, 1768-1784 : with historical and biographical sketches, Part 6

Author: Stevens, John Austin, 1827-1910. Colonial New York
Publication date: 1867
Publisher: New York : J.F. Trow & Co.
Number of Pages: 630


USA > New York > Colonial records of the New York Chamber of Commerce, 1768-1784 : with historical and biographical sketches > Part 6


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Nicholas Hoffman,


Lewis Pintard,


Hamilton Young,


Gabriel H. Ludlow,


Thomas Walton, -


Samson Simpson,


Gerrard Duykink,


John Reade,


William Stepple,


Henry Remsen, jun'r.


George W. Ludlow,


James Beekman.


Fined for appearing after six o'clock :


Hugh Wallace,


Theophy. Bache,


Miles Sherbrooke,


Thomas Marston,


Lawrence Kortright,


Thomas Buchanan,


Isaac Low,


Edward Laight, William Neilson,


William Walton,


Robert R. Waddle,


Thomas W. Moore,


William McAdam,


John Thurman,


Robert Watts,


Henry C. Bogart, Joseph Bull,


Alexan'r McDonald.


Fined for non-appearance :


Elias Desbrosses, James Jauncey, Robert Murray, George Folliot,


Samuel Ver Plank,


Walter Franklin,


Thomas Randal, Henry White, John Alsop, Thomas White, Gerrard Walton, 6


Peter Hasencliver, Alexand. Wallace, William Seton,


Peter Keteltas,


Gerrard W. Beekman, Samuel Kemble, (Sea) Jacob Watson, Robert Alexander, Richard Sharpe, Peter Remsen, Isaac Roosevelt,


John H. Cruger,


Levinus Clarkson, Richard Yates,


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NEW YORK CHAMBER OF COMMERCE.


Thomas Miller, (Sea)


Charles McEvers, John Moore, Nicholas Gouverneur, Philip Livingston,


John Weatherhead,


Garret Rapelje,


William Imlay,


August's Van Horne,


Leonard Lispenard,


Isaac Sears,


Samuel Bayard.


His Honor, Lieutenant Governor Colden, having been pleased to grant a Charter to this Chamber, under the Great Seal 45 of the Province, agreeable to the Petition pre- sented to him by the President in behalf of the Chamber, the said Charter was ordered to be read, together with the address of Thanks presented to His Honor, and his honor's answer.


Ordered-That the same be fairly copied into the minutes of this Corporation, and that the said Charter be deposited with the Treasurer.


Ordered-That as Mr. Banyar,k Deputy-Secretary, has been so polite as to make this Chamber a compliment of his Fees for recording the Charter, that the President do return him the thanks of this Corporation for the favour conferred on them.


Ordered -- That the Treasurer do pay Mr. Attorney- General Twenty Guineas for his Services in perfecting the Charter incorporating this Chamber, agreeable to the pro- posal of last meeting.


It is proposed that the Treasurer shall pay the Clerk who engrossed the Charter Eight Dollars for his Services.


Mr. Thurman moves that, as it is the desire of a number of the Inhabitants of this City to have their Estates Insured 46 from Loss by Fire, and that Losses of this sort may not fall upon Individuals, Proposed that the Chamber take into consideration some plan that may serve so good a purpose under the direction of this Cor- poration.


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REGISTER OF PROCEEDINGS.


Mr. Yates moves that a Committee of this Chamber be appointed to wait on the Mayor praying him to use his Influence with the Corporation to make a Law47 ap- pointing Inspectors for the Inspection of Cornell,48 Rye Meal, and Indian Meal.


Mr. Yates also proposes that as the Office of Secre- tary to this Corporation is attended with much trouble and loss of time, moves that the present and future Sec- retarys may be allowed a Salary, whatever may be judged adequate to their Services.


Mr. William Walton-That this Corporation dine together on the Second Tuesday in May next, and that at the next Meeting three Stewards be appointed to pro- vide a suitable Dinner at the Expence of the Members, and that absent Members pay five Shillings each.


The Committee appointed to Transcribe the Regula- tions, Rules, and Orders of the Chamber Report :


Agreeable to an Order from the Chamber of Commerce, dated 2d Janu- ary, 1770,


We, Charles McEvers, Jacobus Van Zandt, and John Moore, being a Committee appointed to Collect and Transcribe from the Minutes of this Board such Rules and Regulations entered into, as are not yet Printed, have duly attended the said Order, and accordingly Selected from the said Min- utes the following Resolutions and Orders which we conceive to be the most necessary for Publication :


SEPTEMBER 6th, 1768.


RESOLVED, unanimously, that any Persons offering to become Members of this Chamber be Balloted for the next Meeting after their Names are Proposed.


OCTOBER 4th.


RESOLVED, unanimously, that One Barrel of Flour at least, of every Brand Mark, be Started to see that it be Fairly Tared, and if found Fraud- ulent, that all possible means be used to bring the Offenders to Justice, agreeable to an Act of the General Assembly.


RESOLVED, also, that every Member of this Chamber do, in their future purchase of Flour, cause the same to be Weighed and Inspected after Pur-


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NEW YORK CHAMBER OF COMMERCE.


chase, and that the Secretary do cause these Resolutions to be Advertised in the Public News Papers, the Cost of which to be paid by the Treasurer.


RESOLVED, also, by a great Majority of this Chamber, that Pennsylvania Paper Money be hereafter received by any Member that inclines to take it at 63 per ct. advance being equal to Spanish Mill'd Dollars at 8s.


RESOLVED, that the Members of this Chamber will, in future, Pay and Receive damages on West India and Inland Bills of Exchange, agreeable to the following Regulations, viz. :


That 5 per ct. damages be paid and received on all Bills drawn from any one Province of North America upon another, Recoverable here in full of all damages, Re-Exchange, Cost of Protest, Postage, &c., and that the full amount of the Bill with damages of 5 per cent. is due and payable immedi- ately on return of said Bill with Protest. That 10 per cent. damages be paid and Received on all Bills drawn from North America on the West Indies, or from thence on North America, which may be recoverable here, in full of all damages, Re-exchange, Cost of Protest, Postage, &c., and that the full Amount of the Bill with damages of 10 per cent. is due and payable im- mediately on return of the Bill with Protest.


DECEMBER 6th.


RESOLVED unanimously, that 20 p. cent. be paid on all European Bills Returned Protested, in full for all damages, Re-exchange, Cost of Protest, Postage, &c.,


And that all European Bills returned protested be paid immediately on return of said Bill with proper Protest, together with the 20 p. cent. damages in money at the then current Exchange in New York, without regard to the Exchange at which said Bill was bought or sold.


JANUARY 3d, 1769.


RESOLVED unanimously, that in case of sudden Emergency only, when it may be thought necessary (agreeable to the established Rules of this Cham- ber) that a Special Meeting of the Members shou'd be called, each of them shall be Notified in Writing of such Meeting : And that in case any regu- lation which may be agreed to by a Majority of the Members then Present shall be Binding on all the other Members, under the same Penalties and Forfeitures as are provided for the observance of the other Rules of this Chamber.


MAY 2d.


ORDERED-That all future Committees do report unto the next Meeting of this Chamber what differences they have adjusted between Parties, with the names of the Parties and the Sums they have awarded, unless the Parties object to it ; and that such Gentlemen who have decided any Controversies are desired to deliver in the subject of their Award as soon as may be, that the same be Entered.


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REGISTER OF PROCEEDINGS.


JULY 4th.


RESOLVED-That the Members of this Chamber, in their Future purchase of Flour, do agree to pay Twenty-eight Shillings per Ton for the Casks and nails, provided that they be well and sufficiently made (Agreeable to an Act of the Governor, Council and General Assembly of this Province, Passed at their last Sessions) and hooped with Ten hoops, three of which hoops to be on each head.


COMMISSIONS.


The Chamber of Commerce agree in opinion that the following Commis- sions are generally Charged in this Place, and that in case any disputes between parties should arise, and Referees be chosen out of this Chamber, that they govern themselves accordingly (except where Special Agreement has been made to the contrary), viz. :


Inland Commissions, 23 p. ct. on Sales, exclusive of Storage ; and 2} per cent. on Returns, say from Boston to Philadelphia.


Quere, if we should not have one Stated Commission for the Business of the whole Continent.


Foreign Commissions.


5 p. Cent. on Sales, Exclusive of Storage. 5 pr. Cent. on Returns. Indorsing or Negotiating Bills of Exchange, - - 2} per cent.


Making Insurance, - - -


- $ per cent. Recovering Losses, - 2} per cent.


Outfit of Vessel, - - 5 per cent.


Soliciting and Procuring Freight, -


- - 5 per cent.


Collecting Freight, - -


2} per cent.


RESOLVED-That any member Addressing the Chair shall Rise, under the Penalty of One shilling.


RESOLVED-That every Member of this Chamber will pay and receive Gold and Silver in future at the following Rates :


dt. grs. £ S. A Johannes, weighing 10 0 - 6 8 A Moydore, 6 18 - 2 8


and the small Coins of the same Denomination in like proportion.


A Caroline, weighing 6 8


I 18


A Spanish Doubleloon, or 4 Pistole piece, S 17 8 - - 5 16 and the smaller Coins in proportion.


An English Guinea, 5 3 - - I 17 and Half and quarter ditto in proportion.


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NEW YORK CHAMBER OF COMMERCE.


dt. grs.


£ s. 1 16


A French Guinea, 5 4


Half ditto in same proportion.


A Chequin, weighing 2 4


- 14 6


An English Crown, and half Crown in same proportion


8 9


A French ditto, and half ditto in same proportion


8 6


A French Pistole 4 5


I 8


An English Shilling


I


9


A Pistereen


I


7


And for every Grain any of the above specified pieces of Gold shall weigh less than the Weight above directed, there shall be a Deduction of Four Pence.


RESOLVED-That this Chamber will pay and receive all Gold and Silver in Future at the above Rates, and Ordered that the substance of the above Report be Published in the News Papers.


NOVEMBER 7, 1769.


RESOLVED-That no Persons hereafter be proposed to be Members of this Chamber can be admitted unless they are Merchants Residents of this City.


RESOLVED unanimously-That all the Rules and Regulations already entered into be Printed for the use of the Members, and also that every future Regulation that may be agreed to shall be Printed every half year, for the same purpose.


WHEREAS, a Resolution of this Chamber has fixed the lowest Weight of half Johannes at Nine pennyweight, induced thereto by the Custom of Merchants in a Neighbouring Colony ; but finding the true intent and mean- ing of the said Regulation perverted by the Base practice of filing and di- minishing the Weight of Foreign Gold Coin : to encourage which was by no means the intention of this Chamber,


We declare that we will discourages it by all means in our power, and will hold any guilty of it in contempt and not proper to be a Member of this Chamber.


WHEREAS, a Resolution was entered into by this Chamber on the 3d of October last for Regulating the Weight of sundry Gold Coins, wherein the Weight of Guineas were fixed at Five pennyweight Six Grains, the Cham- ber, on a further and more mature deliberation, did, on the 2d January, 1770, agree that Guineas Weighing Five pennywht, three Grains, and not apparently defaced, Shou'd be paid and received by the Members of this Chamber at 37s. each.


The Committee, in attention to this Regulation, have in the General List of Coins in October last, fixed the Weight and Value accordingly.


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REGISTER OF PROCEEDINGS.


The Committee beg leave to observe to the President and Members of this Chamber, that in the foregoing Regulations they have in some few instances deviated from the Strict Letter of the Book of Minutes, which are humbly Offered to their Consideration.


CHARLES McEVERS, JACOBUS VAN ZANDT, JOHN MOORE.


Several Gentlemen having been proposed to be ad- mitted Members of this Corporation, were balloted for and elected, as follows :


Robert C. Livingston, Harman Gouverneur,


Isaac Corsa, Jeremiah Platt.


Ordered-That the Secretary send notice to the sev- eral Gentlemen Elected, in writing, as soon as possible, that they were duly elected.


Ordered-That Messrs. W. Seton, E. Laight, W. Neilson, Sam'n Simpson, P. Keteltas, G. W. Beekman, and John Reade, be a Committee until the first Tuesday in May next, to hear and determine disputes between parties who shall agree to leave such to this Chamber, and that they do make report thereof in writing to this Corporation.


On SATURDAY, THE 24TH MARCH, A COMMITTEE OF THIS CHAMBER waited on His Honor the Lieutenant Governor with the following Address :


To THE HONOURABLE CADWALLADER COLDEN, EsQ., &c., Lieutenant Governor and Commander-in-chief of the Colony of New York and the Territories 49 depending thereon in America.


THE ADDRESS of the President and Members of the Corporation of the Chamber of Commerce of the City of New York.


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NEW YORK CHAMBER OF COMMERCE.


MAY IT PLEASE YOUR HONOUR,


We, the President and Members of the Chamber of Commerce of the City of New York, sensible of Your Honour's desire to encourage every Measure that may tend to promote the Interest of the Colony; take the earliest opportunity of returning you our sincere thanks for the Royal Char- ter with which you have been pleased to invest us. And we entertain the most greatful sense of the confidence thereby reposed in us by Govern- ment.


The important Light in which Your Honour views this Institution has been abundantly evinced by that Readiness so conspicuously manifest in every part of your conduct, from our first Application to its last happy Conclusion.


The Merchants are now, by Your Honour's favour, enabled to execute many Plans of Trade, which, as Individuals, they could not before accom- plish, and we flatter ourselves many and great advantages will result to this Colony from their Incorporation-


We beg leave to assure your Honour that our utmost Ambition is to approve ourselves useful Members of the Community, submissive to the Laws, zealous for the Support of Government, and our happy Constitution, and firmly attached to our most Gracious Sovereign ; and that we will exert ourselves on all occasions to promote the General Interest of the Colony, and the Commerce of this City in particular ; that the Utility of the Insti- tution and the Wisdom of its Founder may be equally applauded by the latest Posterity.


Signed by Order of the Chamber, JOHN CRUGER, President.


To which his HONOUR was pleased to return the following ANSWER :


I return you sincere thanks for this very obliging Address :


The extensive Property of so considerable a Body of the Mer- chants of this City, united with Principles of Loyalty, afford the strongest assurance of your Zeal in the Support of the Government and our happy Constitution ; while your good Example will, at all times, have the most favorable Influence by promoting that due Obe- dience to the Laws which is essential to the Security of the Sub- ject. I ardently wish success to this Institution so well adopted to increase the Trade and Opulence, and advance the Prosperity of the Colony.


FORT GEORGE, NEW YORK,


March 24th, 1770.


Mathew Pratt. Pinxt.


P. Purdon Graham. Sc.


LIEUT. GOV. CADWALLADER GOLDEN.


From the Portrait in possession of the Chamber of Commerce. N. Y.


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REGISTER OF PROCEEDINGS.


CHARTER.5º


EORGE THE THIRD,1 by the Grace of God, of Great Britain and Ireland, King, Defender of the Faith, and so forth-To all to whom these presents shall come, Greeting :


WHEREAS, a great Number of Merchants in our City of New York, in America, have, by voluntary Agreement, associated them- selves for the laudable Purposes of promoting the Trade and Com- merce of our said Province ; and Whereas, John Cruger, Esq., the present President of the said Society, by his humble Petition pre- sented in Behalf of the said Society, to our Trusty and well-beloved CADWALLADER COLDEN, Esq., our Lieutenant Governor and Com- mander-in-Chief of our said Province of New York, and the Territo- ries depending thereon in America, and read in our Council for our said Province, on the Twenty-eighth Day of February, last past, hath represented to our said Lieutenant Governor, That the said Society (sensible that numberless inestimable Benefits have accrued to Man- kind from Commerce ; that they are, in proportion to their greater or lesser Application to it, more or less Opulent and Potent in all Coun- tries ; and that the Enlargement of Trade will vastly increase the Value of Real Estates, as well as the general Opulence of our said Colony) have associated together for some time past, in order to carry into Execution among themselves, and by their Example to promote in others, such Measures as were beneficial to those salutary Pur- poses ; AND that the said Society having, with great Pleasure and Satisfaction, Experienced the good Effects which the few Regulations already adopted, had produced, were very desirous of rendering them more extensively useful and permanent, and more adequate to the Purposes of so benevolent an Institution; AND therefore the Peti- tioner, in behalf of the said Society, most humbly prayed our said Lieutenant Governor to Incorporate them a Body Politick, and to Invest them with such Powers and Authorities as might be thought most conducive to answer and promote the Commercial and conse-


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NEW YORK CHAMBER OF COMMERCE.


quently the Landed Interest of our said growing Colony ; WHICH PETITION being read as aforesaid, was then and there referred to a Committee of our said Council, and afterwards on the same Day, our said Council, in pursuance of the Report of the said Committee, did humbly advise and consent, that our said Lieutenant Governor, by our Letters Patent, should constitute and appoint the Petitioner, and the Present Members of the said Society, a Body Corporate and Politick, by the Name of " THE CORPORATION OF THE CHAMBER OF COMMERCE IN THE CITY OF NEW YORK, IN AMERICA," agreeable to the Prayer of the said Petition : Therefore, We being willing to fur- ther the said laudable Designs of our said loving Subjects, and to give Stability to an Institution from whence great advantages may arise, as well to our Kingdom of Great Britain as to our said Province,


KNOW YE, That of our Especial Grace, certain Knowledge and mere Motion, We have Willed, Ordained, Given, Granted, Consti- tuted, and Appointed, And by these Presents for Us, our Heirs and Successors, DO Will, Ordain, Give, Grant, Constitute, and Appoint, that the present Members of the said Society, Associated for the Purposes aforesaid, That is to say, John Cruger, Elias Desbrosses, James Jauncey, Jacob Walton, Robert Murray, Hugh Wallace, George Folliot, Wm. Walton, John Alsop, Henry White, Philip Liv- ingston, Samuel Verplank, Theophylact Bache, Thomas White, Miles Sherbrooke, Walter Franklin, Robert Ross Waddell, Acheson Thomp- son, Lawrence Kortwright, Thomas Randal, William McAdam, Isaac Low, Anthony Van Dam, Robert Watts, John Harris Cruger, Gerard Walton, Isaac Sears, Jacobus Van Zandt, Charles M'Evers, John Moore, Lewis Pintard, Levinus Clarkson, Nicholas Gouverneur, Rich- ard Yates, Thomas Marston, Peter Hassencliver, Alexander Wallace, Gabriel H. Ludlow, Thomas Buchannan, Wm. Neilson, Sampson Sim- son, Peter Ketletas, Gerard W. Beekman, Jacob Watson, Richard Sharpe, Peter Remsen, Henry Remsen, junior, William Seton, Edw. Laight, John Reade, Robert Alexander, Thomas W. Moore, Abraham Lynsen, Isaac Roosevelt, Nicholas Hoffman, Hamilton Young, Thomas Walton, John Thurman, John Weatherhead, Garret Rapelje, Gerrard Duyckink, William Stepple, William Imlay, Augustus Van Horne, Henry C. Bogart, George W. Ludlow, Joseph Bull, Leonard Lispenard, Thomas Miller, James Beekman, Samuel Kemble, Alexan- der McDonald, and Samuel Bayard, junior, all of our City of New York, in our said Province of New York, Merchants, and their Suc-


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REGISTER OF PROCEEDINGS.


cessors to be Elected by Virtue of this our present Charter, shall for ever hereafter be one Body Corporate and Politick in Deed, Fact, and Name, by the Name, Style, and Title of " THE CORPORATION OF THE CHAMBER OF COMMERCE IN THE CITY OF NEW YORK, IN AMER- ICA," and them and their Successors by the same Name, WE do by these Presents really and fully Make, Erect, Create, Constitute and Declare One Body Politick and Corporate in Deed, Fact, and Name for ever ; And Will, Give, Grant, and Ordain, that they and their Successors, The Corporation of the Chamber of Commerce in the . City of New York, in America, by the same Name, shall and may have perpetual Succession, and shall and may by the same Name, be Persons capable in the Law to Sue and be Sued, Implead and be Impleaded, Answer and be Answered, Defend and be Defended, in all Courts and elsewhere, in all Manner of Actions, Suits, Com- plaints, Pleas, Causes, Matters, and Demands whatsoever, as fully and amply as any other our Liege Subjects of our said Province of New York may or can sue or be sued, implead or be impleaded, defend or be defended, by any lawful Ways or Means whatsoever ; And that they and their Successors by the same Name, shall be for ever hereafter Persons Capable and Able in the Law to purchase, take, receive, hold, and enjoy, to them and their Successors, any Mes- suages, Tenements, Houses, and Real Estates whatsoever, and all other Hereditaments of whatsoever Nature, Kind and Quality they be, in Fee simple, for Term of Life or Lives, or in any other manner howsoever, and also any Goods, Chattels, or Personal Estate what- soever, as well for enabling them the better to carry into Execution, encourage and promote by just and lawful Ways and Means, such Measures as will tend to promote and extend just and lawful Com- merce, as to provide for, aid, and Assist, at their Discretion, such Members of our said Corporation as may be hereafter reduced to Poverty, and their Widows and Children : PROVIDED ALWAYS, the clear Yearly Value of the said Real Estate doth not at any Time exceed the Sum of Three Thousand Pounds Sterling, lawful Money of our Kingdom of Great Britain. And that our said Corporation of the Chamber of Commerce in the City of New York, in America, and their Successors for ever, by the same Name, shall and may have full Power and Authority to Give, Grant, Sell, Lease, Demise and Dispose of the same Real Estate and Hereditaments whatsoever, for Life or Lives, or Years, or for ever ; and all Goods, Chattels, and personal Estates whatsoever, at their Will and Pleasure, according as


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NEW YORK CHAMBER OF COMMERCE.


they shall judge to be most beneficial and advantageous to the Good Ends and Purposes abovementioned. And that it shall and may be Lawful for them and their Successors forever hereafter, to have a Common Seal, to serve for the Causes and Business of them and their Successors, and the Same Seal to Change, Alter, Break, and Make new from time to time at their Pleasure. And also that they and their Successors by the same Name, shall and may have full Power and Authority to Erect and Build out of their Common Funds ·or by any other Ways or Means, for the use of the said Corporation hereby Erected, any House, Houses, or other Buildings, as they shall think necessary and Convenient. And for the better carrying into Execution the Purposes aforesaid, our Royal Will and Pleasure is, and We do hereby Give and Grant to the Corporation of the Cham- ber of Commerce in the City of New York, in America, and their Successors for ever, that there shall be for ever hereafter belonging to the said Corporation, one President, One or more Vice President or Vice Presidents, One or more Treasurer or Treasurers, And One Secretary ; And for the more immediate carrying into Execution our Royal Will and Pleasure herein, We do hereby Assign, Constitute, and Appoint the above named John Cruger, Esq., to be the present President ; the above named Hugh Wallace to be the present Vice President ; the above named Elias Desbrosses to be the present Treasurer, and the above named Anthony Van Dam to be the present Secretary of our said Corporation hereby Erected, who shall hold, possess, and enjoy their said respective Offices until the first Tuesday in May now next ensuing :- And for the keeping up the Succession in the said Offices, Our Royal Will and Pleasure is, and we do hereby for us, our Heirs and Successors, establish, direct, and require, and give and Grant to the said Corporation of the Chamber of Commerce in the City of New York, in America, and their Successors for ever, that on the said first Tuesday in May now next ensuing, and Yearly, and every Year forever thereafter, on the first Tuesday in May in every Year, they and their Successors shall meet at some convenient place in our said City of New York, to be fixed and ascertained by some of the Bye-Laws or Regulations of our said Corporation, and there, by the Majority of such of them as shall so meet, shall by Ballot, or in such other manner and Form as shall be regulated by the Bye-Laws or Regulations of our said Corporation, Elect or chuse One President, One or more Vice President or Vice Presidents, One or more Treasurer or Treasurers, and One Secretary, to serve in the


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REGISTER OF PROCEEDINGS.


said Offices for the ensuing Year, who shall immediately enter upon their respective Offices, and hold, exercise, and enjoy the same re- spectively from the time of such Elections, for and during the Space of one Year, and until other fit Persons shall be Elected and chosen in their respective Places, according to the Laws and Regulations aforesaid. And in case any of the said Persons by these Presents Nominated and Appointed to the respective Offices aforesaid, or who shall hereafter be Elected and Chosen thereto respectively, shall die, or on any Account be removed from such Offices respectively before the time of their respective appointed Services shall be expired, or refuse or neglect to Act in and execute the Office for which he or they shall be so elected and chosen, or is or are herein nominated or appointed, that then, and in any and every such Case, it shall and may be Lawful for the Members of our said Body Corporate hereby erected, to meet at such Time and Times, and at such Place and Places within our said City of New York, and upon such Notices or Summons as shall for that Purpose be established and directed by the Bye-Laws or Regulations of our said Body Corporate, and there, by the Majority of such of them as shall so meet, Elect and choose other or others to the said Offices respectively, in the Place of him or them so dying, removing, neglecting or refusing to Act in manner and Form, and after the same method to be observed in the Annual Elections of the like Officers respectively, by Virtue of these our Letters Patent, and the said Bye-Laws or Regulations of our said Corporation, Hereby giving and granting, that such Person or Per- sons as shall be so Elected and Chosen by the majority of such of the said Members as shall meet in manner aforesaid, shall have, hold, exercise and enjoy such the Office or Offices to which he or they shall be so Elected and Chosen, from the time of such Election until the first Tuesday in May then next ensuing, and until other or others be legally Chosen in his or their Place and Stead, as fully and amply to all Intents and Purposes whatsoever, as the Person or Persons in whose place he or they shall be chosen might or could have done by Virtue of these Presents. And our Will and Pleasure is, and We do hereby for us, our Heirs and Successors, ordain, direct and require, that every President, Vice President, Treasurer and Secretary to be Elected by Virtue of these Presents, shall, before they Act in their respective Offices, take an Oath or Affirmation to be to them administered by the President, or in his Absence by One of the Vice Presidents of the preceding year, (who




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