levied upon the same, for any purpose or purposes what soever. 5. And be it enacted, That the president, directors, stockholders, and associates of this association shall be jointly and severally, individually and personally liable and responsible for any and all contracts made, or for any debts incurred for, by, or on account of said association or society here intended to be incorporated; and all or any conveyances or assignments of property, real or personal, made by any person who may be the president, or a director, or stockholder, or associate of this company or association shall not be valid or held to be good in law against any creditor of said society or association, while any contracts or debts which may have been contracted by said society here intended to be incorporated shall remain unsatisfied; provided, such individual shall not be held personally liable or responsible if said contract or debts were not made or incurred while he was a stockholder or acting as president or director of said company. 6. And be it enacted, That this act shall take effect immediately. Approved March 11, 1858. CHAPTER CXVIII. AN ACT to authorize the trustees of the first Methodist Episcopal church at Hightstown to sell and convey land. WHEREAS, the trustees and members of the first Methodist Preamble. Episcopal church at Hightstown, in the county of Mercer, have set forth in their petition, that they have been erecting a new house of worship, and that the old one is no longer needed as such, therefore, thorized to 1. BE IT ENACTED by the Senate and General Assembly of Trustees authe State of New Jersey, That Robert E. Morrison, Israel sell land. Pearce, Augustus Walling, Joel Jimerson, Clayton I. Coward, Gilbert S. Dey, and Morgan F. Mount, trustees of the first Methodist Episcopal church aforesaid, or their successors in office, or a majority of them, be and they are hereby authorized to sell and convey the old house of worship, and so much of the land by them held, as trustees, in trust for the use of the first Methodist Episcopal church, as can be spared without inconvenience to the new house of worship erected thereon, and apply the proceeds of said sale to the payment of the debt incurred in building the new house aforesaid. Approved March 11, 1858. Names of corporators. Amount of capital stock. Commissioners to receive subscriptions. CHAPTER CXIX. AN ACT to incorporate the Perth Amboy and Bound Brook Railroad 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Ezekiel M. Patterson, James T. Crowell, William Paterson, Amos Robins, Lewis Golding, John Manning, Ellis B. Freeman, Benjamin D. Stelle, Joseph D. Forbes, and Albert R. Speer, and such other persons as may hereafter be associated with them, shall be and are hereby ordained, constituted, and declared to be a body politic and corporate, in fact and in name, by the name of "The Perth Amboy and Bound Brook Railroad Company," and shall be capable of purchasing, holding, and conveying any lands, tenements, goods, and chattels whatsoever, necessary or expedient for the objects of this incorporation. 2. And be it enacted, That the amount of capital stock shall be five hundred thousand dollars, and shall be divided into shares of one hundred dollars each, which shall be deemed personal property, and transferable in such manner as the said corporation shall, by their by-laws, direct. 3. And be it enacted, That the above named persons, or a majority of them, shall be commissioners to open books to receive subscriptions to the capital stock of said corporation, at such time or times and place or places as they, or a majority of them, may think proper, giving at least twenty days' notice of the same, in two of the newspapers published in this state; and that, at the time of subscribing, five per centum shall be paid for each share subscribed for, to the commissioners, or some one of them; and as soon as one hundred thousand dollars of the capital stock shall be subscribed, such commissioners shall give like notice for a directors. meeting of the stockholders to choose nine directors, a majority of whom shall be residents of this state; and such election shall be made at the time and place appointed, by Election of such of the stockholders as shall attend for that purpose, either in person or by proxy, each share of the capital stock entitling the holder thereof to one vote; and the said above named persons, or any three of them, shall be inspectors of the first election of directors of the said incorporation, and shall certify, under their hands, the names of those persons duly elected, and deliver over the subscription books and money paid in, deducting all expenses previously incurred, to the said directors; and the time and place of holding the first meeting of said directors shall be fixed by the said persons named in the first section of this act, or a majority of them; and the directors chosen at such meeting, or at the annual election of said corporation, shall, as soon as may be after every election, choose out of their own number a president, who shall be a resident of this state; and in case of the death, resignation, or removal of the president, or any director, such vacancy or vacancies may be filled for the remainder of the year in which they may happen, by the said board of directors, or a majority of them; and in case of the absence of the president, the said board of directors, or a majority of them, may appoint a president pro tempore, who shall have such power and functions as the by-laws of the said corporation shall provide. not dissolv ed for failure day pre to elect on scribed. 4. And be it enacted, That in case it shall happen that an Corporation election of directors should not be made during the day when, pursuant to this act, it ought to have been made, the said corporation shall not, for that cause, be deemed to be dissolved; but such election may be held at any other time, in the manner prescribed by law in such cases, and the directors for the time being shall continue to hold office until others shall have been chosen in their places. instalments. 5. And be it enacted, That five directors of the said cor- Payment of poration shall be competent to transact all business of said corporation, and shall have power to call in the capital stock of said company, by such instalments and at such times as they may direct; provided, no instalment shall be called in Proviso. for more than twenty per cent. at any one time, or within thirty days of a previous one; and no instalment shall be Company authorized road. Proviso. Proviso. demanded without at least twenty days' previous notice of the time and place of payment, to be inserted in a newspaper in the county of Middlesex, in this state; and in case of the non-payment of said instalments, or any one of them, to forfeit the share or shares upon which such default shall arise; and to make and prescribe such by-laws, rules, and regulations, as to them shall appear useful and proper, touching the management and regulations of the stock, property, estate, and effects of the said corporation; and also, shall have power to appoint such officers, clerks, and servants as to them shall seem meet, and to establish and fix such salaries to them, and also to the president, as to the said board shall appear proper. 6. And be it enacted, That the president and directors of to construct the said company be and they are hereby authorized and invested with all the rights and powers necessary and expedient to survey, lay out, and construct a railroad from a point on the Central Railroad of New Jersey, at or within five miles of Bound Brook, running through the county of Middlesex, and terminating at the city of Perth Amboy; provided, that should the said railroad cross any other railroad, the grade of said road shall be at least sixteen feet above or below the grade of the road crossed; provided always, that the land taken for said railroad shall not exceed one hundred feet in width, except in such places where, from the depth of the excavation, or the height of the embankment, it is necessary to take more land for the slope. and protection of the side banks of said railroad, in which case so much land as will be necessary for the purpose, and no more, shall be taken, with as many sets of tracks and rails as the company may deem necessary; and it shall and may be lawful for the said president and directors, their agents, engineers, superintendents, or others in their employ, to enter at all times upon all lands and waters, for the purpose of exploring, surveying, levelling, or laying out the said route of said railroad, and of locating the same, and to make and erect all necessary works, buildings, and appendages thereof, doing no unnecessary injury to private |