Gambar halaman
PDF
ePub

Stock transferable.

any real estate or securities bona fide, mortgage or pledge to said company, and to sue for and collect the same, and the same to sell or otherwise dispose of; and the said company may invest their capital, and accumulating premiums from time to time, in public stocks, bonds, obligations, mortgages, and such other securities as may be approved by the directors.

9. And be it enacted, That the stock of said company shall be deemed to be personal property, and assignable and transferable, pursuant to the by-laws of the company, and it shall be lawful for the directors to make dividends of so much of the profits among the stockholders, as they may deem advisable from time to time.

10. And be it enacted, That this act shall take effect immediately, and shall continue in force twenty years; provided, that no contract made by said corporation before the repeal or expiration of this charter, shall be affected thereby; and the said corporation shall have a reasonable time for the final settlement of its affairs.

Approved March 1, 1859.

Limitation.

Proviso.

CHAPTER XXVI.

A FURTHER SUPPLEMENT to the act entitled "An act to incorporate the

Princeton and Kingston Branch Turnpike Company."

1. BE IT ENACTED by the Senate and General Assembly of Company the State of New Jersey, That the Princeton and Kingston to borrow Branch Turnpike Company, be and they are hereby. authorized to borrow such sum, not exceeding the par value of the unissued capital stock, as may be necessary to pay the debt now existing against said company, and to complete the improvement of the said road, and to secure the payment of the same by a mortgage upon the property of the said road and its franchises.

Approved March 1, 1859.

CHAPTER XXVII.

A SUPPLEMENT to an act entitled "An act to incorporate Cedar Hill

Cemetery Association.”

WHEREAS, the “Cedar Hill Cemetery Association,” in the Preamble.

township of East Windsor, in the county of Mercer, and state of New Jersey, was legally incorporated, according to the directions and provisions of an act entitled

Certain avenues,

"An act authorizing the incorporation of rural cemetery associations," approved March fourteenth, eighteen han. dred and fifty-one; AND WHEREAS, it has become necessary in the opinion of the said association, to vacate the hereinafter described walks, or avenues, as laid down and described on the map of the lands of the said association, filed in the clerk's office of the county of Mercer; therefore,

1. BE IT ENACTED by the Senate and General Assembly of &c., vacated. the State of New Jersey, That the avenues or walks between

ranges of lots number eight and nine south, and three to sixteen west,. in said cemetery lands, as laid down and

described on said map, be and the same are hereby vacated. Map to be 2. And be it enacted, That the said association shall file filed.

in the said clerk's office of the county of Mercer, a map of their said cemetery lands, altered and amended only so far as to conform with the provisions of this act.

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

Approved March 1, 1859.

CHAPTER XXVIII.

As act to incorporate the New Brunswick Water Company.

corporators.

1. BE IT ENACTED by the Senate and General Assembly of Names of the State of New Jersey, That Henry L. Janeway, Ezekiel M. Patterson, A. D. Newell, T. V. D. Hoagland, Lyle Van Nuise, Christopher Meyer, James Bishop, Allen H. Robbins, and such other persons as may hereafter be associated with them, shall be, and are hereby ordained, constituted and declared to be a body corporate and politic, in fact and in name, by the name of “The New Brunswick Water Company," and they and their successors, by the same name and style, shall be capable of purchasing any real or personal estate necessary and expedient to the objects of this incorporation.

2. And be it enacted, That the capital stock of said com. Amount of pany shall be one hundred thousand dollars, with the stock. privilege of increasing the same to three hundred thousand dollars; which shall be divided into shares of twenty-five 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 Commis. a majority of them, shall be commissioners to open books receive subto receive subscriptions to capital stock of said corporation, at such time or times, place or places in the city of New Brunswick as they, or a majority of them, may think proper: the books for subscription shall be kept open for at least three days, from ten o'clock in the morning until five o'clock in the afternoon, upon fifteen days' notice being given in both the newspapers published in New Brunswick, and at the time of subscribing, ten per cent. shall be paid on each share when subscribed for, to the commissioners, or one of them, and as soon as two thousand shares of the said stock shall be subscribed, such commissioners shall

give like publication for a meeting of the stockholders to choose seven directors, a majority of whom shall reside within the present limits of the corporation of said city; and such election shall be made at the time and place appointed by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy; each share of the capital stock entitling the holder thereof to one yote, 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 duly elected, and deliver over the subscription books and money paid in to the said directors, deducting a reasonable compensation for their own services, and the time and place of holding the first meeting of the directors shall be fixed by said in pectors, and the said directors shall, as soon as may be after the election, choose a president out of their own number, who shall reside within the aforesaid limits, and the directors chosen at each annual meeting thereafter, on the second Monday in June or on such other day as the directors, for the time being, shall designate by a publication in the papers as aforesaid, shall elect a president as aforesaid, and in case of death, resignation or removal of the president or any director, the vacancy may be filled by the directors for the remainder of the year. And the said company, when organized as aforesaid, shall have power to erect and maintain all necessary water-works, fountains, reservoirs and conduits, and also to obtain and secure the right to use, divert and appropriate any springs, streams and ponds of water, or either, in the counties of Middlesex or Somerset, as they may deem necessary for the purposes hereby contemplated.

4. And be it enacted, That four directors shall constitute a quorum, who shall be competent to transact all business of the said corporation; the directors shall have power to call in the remainder of the stock subscribed for, by instalments of two dollars each, upon thirty days' notice, published in said newspapers, provided that not less than

Payment of instalments.

« SebelumnyaLanjutkan »