Price of shares reduced. CHAPTER LI. A SUPPLEMENT to the act entitled, "An act to incorporate the Gloucester Manufacturing Company," approved March nineteenth, eighteen hundred and forty-five. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the capital stock of "The Gloucester Manufacturing Company," shall be divided into shares of twenty-five dollars each, instead of five hundred dollars each, as provided for by the charter of said company; and the said company are hereby authorized to make and issue, to their several stockholders, certificates of stock for as many shares as, at the rate of twenty-five dollars per share, will equal the amount of stock respectively held by them; to be in lieu of their present certificates, which shall continue in force until such new ones shall be issued in their stead. Approved March 4, 1859. CHAPTER LII. AN ACT to incorporate the Boiling Spring Bleaching Works. corporators. powers. 1. BE IT ENACTED by the Senate and General Assembly of Names of the State of New Jersey, That Lewis P. Mead, James Fisher Hind, and John R. Stewart, and the survivors and survivor of them, and all such persons as may be associated with them or the said survivors, their successors and assigns, shall be and they are hereby constituted a body corporate and politic, in fact and in name, by the name and style of "The Boiling Spring Bleaching Company," to be located in the township of Union, in the county of Bergen, and state of New Jersey, for the purpose of carrying on the business of bleaching and finishing cotton and woolen goods, and erecting and constructing buildings and such other improvements on their lands as may be useful or necessary for the purpose aforesaid; and by that name they General and their successors shall have succession and continue a body corporate and politic, and shall be capable of contracting and being contracted with, suing, pleading, defending, and answering, and being sued, impleaded, defended, and answered unto, in all courts and places whatsoever, in all manner of actions, suits, and complaints, matters, and causes whatsoever, and of doing, and causing to be done, all acts needful for the proper management of the funds and property of said corporation, and carrying on the business for which the said corporation is created; and they and their successors may acquire, purchase, receive, have, hold, enjoy and sell or otherwise dispose of such personal and real estate as may be necessary or useful for the said corporation to carry on the manufacturing operations before mentioned; provided always, that the funds of the said Proviso. corporation, or any part thereof, shall not be used in banking operations; and provided also, that the said the Boiling Proviso. Spring Bleaching Company shall not divert the water which Election of directors. flows through the lands of the estate of Daniel Holsman, deceased, from its present channel, and that the water of the said stream shall not be injured on said land for domestic purposes. 2. And be it enacted, That the stock, property, and concerns of said corporation shall be managed and conducted by three directors, being stockholders (one of whom shall be president), who shall hold their offices for one year; and the said directors shall be chosen on the first Monday in October of every year, at such place and time as shall be directed by the by-laws of the said corporation, and public notice thereof shall be given, not less than ten days previously, in one or more newspapers printed in the county of Bergen, or by notice given by the president to each stockholder; and each stockholder shall, at such election, be entitled, in person or by proxy, to as many votes as he or she shall hold shares of the capital stock of said corporation; and the persons having or receiving, in such elections, the greatest number of votes, and being stockholders, shall be directors; and the directors chosen at one election shall be capable of serving by virtue thereof until another election shall have been had; and the directors so chosen may appoint such officers and superintendents, and assign such compensation as they shall think fit, not less than a majority of the whole number of directors being present when the same shall be done; and all vacancies occurring by death, resignation, or otherwise, among the directors named in this act, or those hereafter to be chosen, shall be filled by such person or persons as the remainder of the directors for the time being, or a majority of them, shall First direc- appoint for that purpose; and that the said Lewis P. Mead, James Fisher Hind, and John R. Stewart, and the survivors of them, shall be the first directors of the said corporation, and shall hold their offices until the first Monday in October next, and until others are legally chosen. tors. Amount of capital stock. 3. And be it enacted, That the capital stock of said corporation shall not exceed the sum of one hundred thousand dollars, which shall be divided into shares of one thousand dollars each, but as soon as fifty-five thousand dollars of the said capital stock shall have been subscribed and paid, it shall be lawful for the said corporation to commence their said business, or any part of it, and with that capital to conduct and carry it on until they shall deem it expedient to extend the same; and it shall be lawful for the directors of the said corporation, or a majority of them, from time to time, to call for and demand from the stockholders, respectively, all such sums of money by them subscribed, at such times and in such proportions as they shall deem proper, under pain of forfeiting the shares of said stockholders, and all previous payments thereon, if such payments shall not be made within thirty days after the day fixed for that purpose, by public notice previously published, for the space of thirty days, in one or more newspapers printed in said county, designating the proportion of such payment per share, and the time and place, when and where, and the officer to whom the same shall be required to be made. ferable. 4. And be it enacted, That the stock and property of the Stock transsaid corporation, of whatsoever kind or nature, shall be deemed personal estate, and transferable in such manner as shall be prescribed by the by-laws of said corporation; pro- Proviso. vided, that no dividend shall be made to and among the stockholders except from and out of the actual net profits of said corporation. not dissolved for failure to elect on scribed. 5. And be it enacted, That in case it should at any time Corporation happen that an election should not be made upon the day designated by this act for that purpose, the said corporation day preshall not, for that cause, be deemed to be dissolved, but it shall be lawful to hold such election on such other days as shall be prescribed by the by-laws of the said corporation. make by 6. And be it enacted, That a majority of directors for the Directors to time being shall form a board for transacting the business laws. of said corporation, and shall have power to make and enforce such by-laws and regulations as they shall deem expedient for the government, management, and disposition of the stock, effects, profits, and concerns of the said cor Proviso. Books of accounts to be kept. Limitation. Proviso. poration; provided, that the same are not contrary to the constitution and laws of the United States or of this state. 7. And be it enacted, That the directors shall at all times keep, or cause to be kept, proper books, in which shall be regularly entered all the transactions and business of said corporation; and further, that no transfer of stock shall be valid or effectual until such transfer shall be entered or registered in the book or books to be kept by the president and directors for that purpose. 8. And be it enacted, That this act shall continue in force for the term of twenty years from the time of its passage; provided, nevertheless, that the legislature reserves the right to alter or amend this act whenever the public good may require it. Approved March 4, 1859. Names of corporators. CHAPTER LIII. AN ACT to incorporate the Camden and Haddonfield Passenger Railroad Company. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Richard Fetters, William Coffin, William M. Collins, William Folwell, Samuel Andrews, Genge Browning, Josiah B. Evans, Joseph B. Tatem, Jesse E. Peyton, Samuel S. Willets, Edward Bettle, and such other persons as may be hereafter associated with |