CHAPTER LXIX.

AN ACT to confirm the Last Will and Testament of Archibald Sayre, late of the county of Morris, deceased.

WHEREAS, Archibald Sayre, late of Madison, in the county Preamble. of Morris, in this state, did in his lifetime make, execute and publish his last will and testament, in writing, under his hand and seal, bearing date on the eleventh day of January, eighteen hundred and forty-one; AND WHEREAS, the said will was published and declared by the said Archibald Sayre to be his last will and testament, on the day of the date thereof, in the presence of three subscribing witnesses, one of whom only actually saw the testator sign his name to the said will; AND WHEREAS, the said Archibald Sayre in and by said will, gave, devised, ordered to be sold and disposed of his lands and real estate, and in the year aforesaid died seized of the said lands and real estate, without having revoked or altered the said will; AND WHEREAS, the children, devisees and heirs-at-law of the said Archibald Sayre, deceased, and those claiming under them, desire that the said will shall be confirmed, and it appearing that the intentions of the testator will be effected by confirming said will-therefore,

firmed.

1. BE IT ENACTED by the Senate and General Assembly of Will conthe State of New Jersey, That the last will and testament of the said Archibald Sayre, deceased, bearing date the eleventh day of January, eighteen hundred and forty-one, be and the same is hereby in all things confirmed; and that the said will and all the grants, devises, directions and orders therein contained, be as valid and effectual in law, and have the same force and effect, as though the said will had been duly signed and published by the testator in presence of three subscribing witnesses, as required by law, at the date of said will, for the passing of real estate.

2. And be it enacted, That this act shall take effect imme

diately.

Approved March 8, 1859.

Nets, &c., not to be used in pond.

Penalty for

violation of act.

CHAPTER LXX.

AN ACT to prevent fishing with nets, &c., in "Ryerson's Pond," in the township of Pompton, in the county of Passaic.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That, after the passage of this act, it shall not be lawful for any person or persons to set or haul any seine, basket, net or fike, within the limits of the pond known as "Ryerson's Pond," situated in the township of Pompton, being partly in the county of Passaic and partly in the county of Bergen.

2. And be it enacted, That any person or persons violating this act shall forfeit the sum of twenty-five dollars and costs for each offence, to be collected in an action of debt before any justice of the peace in the county of Passaic, half of the fine to go to the complainant and half to the township of Pompton.

3. And be it enacted, That this act shall take effect immediately.

Approved March 8, 1859.

CHAPTER LXXI.

AN ACT to incorporate the Trenton China Company.

corporators.

1. BE IT ENACTED by the Senate and General Assembly of Names of the State of New Jersey, That Isaac Stevens, Joseph Whittaker, George James, Jesse M. Clark, and Albert J. Whittaker, and their associates, shall be and they are hereby created a body politic and corporate, by the name of "the Trenton China Company," and by that name the said company shall have power to purchase and hold such real estate as may be necessary or proper, at or near the city of Trenton, not exceeding in all ten acres of land, and to erect and construct thereon such buildings and machinery for manufacturing and selling and to manufacture and sell porcelain, china, chemicals, drugs, and other articles of which clay, sand and other earthy substances form the basis or principal ingredients, and shall have all such other powers as are necessary or proper to carry into effect the objects of this act, and such other incidental powers as are enumerated in the first section of the act concerning corporations.

capital

2. And be it enacted, That the capital stock of said cor- Amount of poration shall be fifty thousand dollars, divided into shares stock. of fifty dollars each, and shall be subscribed for and paid in at such time or times, in such manner and in such instalment or instalments, and upon such notice, as the said corporation may by by-laws or otherwise direct or appoint; and in case of a failure by any stockholder to pay his or her instalment or instalments at the time and place mentioned and appointed for the payment thereof, such stockholders shall incur a forfeiture of his or her share or shares and all payments thereon, to use of said corporation; provided, said company shall not commence business Proviso. until the sum of ten thousand dollars is actually paid in.

Stock transferable.

First directors.

Annual election of directors.

3. And be it enacted, That the capital stock of said corporation shall be deemed and considered personal property, and shall be transferable in such way as the by-laws of said corporation may direct; that every share of stock shall be entitled to one vote by the holder or holders thereof, which may be given in person or by proxy; and that the board of directors of said company may at any time. hereafter increase their capital stock to any amount not exceeding one hundred thousand dollars.

4. And be it enacted, That the affairs of said corporation shall be managed by a board of five directors, any three of whom shall be a quorum for the transaction of business, but any less number shall have power to adjourn; and that said Isaac Stephens, George James, Joseph Whittaker, Jesse M. Clark, and Albert J. Whittaker shall be and hereby are appointed the first board of directors, to serve until the first Monday in May next, or until others shall be elected in their stead; and the said directors, or a majority of them, shall, as soon as conveniently may be hereafter, appoint one of their number to be president of said corporation until the said first Monday in May next, or until another shall be appointed in his stead; and should a vacancy at any time occur in the board of directors by death or otherwise, the board may, at their next or any subsequent stated meeting, fill such vacancy until the then next annual meeting of directors; and no person shall be a director but a stockholder.

5. And be it enacted, That an annual election of directors shall be held at the city of Trenton, on the first Monday in May next, and that all subsequent elections of directors shall be held at such time and place, and upon such notice as shall be ordained by the by-laws; and the board of directors shall appoint the judge of such elections, but if it should happen that an election of directors should not be had on the said first Monday in May next, or at the time appointed for the holding of any subsequent annual election, the said corporation shall not for that cause be deemed to be dissolved, but such election shall be held at

such other time and place as the board of directors for the time being shall or may appoint; and the directors for the time being shall continue in office until new ones shall be elected in their stead; and every board of directors as soon as conveniently may be after their election, shall appoint from their number, a president of said corporation, to serve until the then next annual election of directors, and another shall be appointed in his stead; that the said president shall preside at all meetings of the board, but in case of his absence, any other of the directors present, may be chosen president pro tempore; and all stated meetings of the board shall be held at such times and places, as the by-laws may ordain, and special meetings may be held by appointment of the board, or upon the call of the president.

6. And be it enacted, That the dividends of so much of Dividends. the profits of the corporation as shall appear advisable to the board of directors, shall be made and paid to the stockholders at such stated periods as the said board shall determine; and at each annual meeting of the stockholders for the purpose of election, it shall be the duty of the president and directors of the preceding year to exhibit to the stockholders a full and complete statement of the affairs of the corporation during the past year, and shall produce the books, accounts and papers of the corporation, if required to do so by any person or persons being stockholders.

7. And be it enacted, That this corporation shall be limit- Limitation. ed to twenty years, and that the legislature may alter, amend or repeal this act whenever the public good may require it.

Approved March 8, 1859.