to be com

vided, that the said valuation shall in no case exceed the first

cost of said road, with the appendages thereof.

Road, when 16. And be it enacted, That if the said railroad shall not be menced and commenced within two, and completed and in use within five completed. years from the fourth day of July next ensuing, that then and in that case this act shall be void.

Public act.

Capital not

to be. em. ployed in banking.

17. And be it enacted, That this act shall be deemed and taken as a public act, and shall at all times be recognized as such in all courts and places whatsoever.

18. And be it enacted, That no part of the capital stock or moneys of the company shall be used for banking or other purposes not plainly indicated in this act, under penalty of forfeiting this charter; and that it may be lawful for the legislature at any time hereafter to alter, modify, or amend the same, whenever the public good shall require it.

19. And be it enacted, That this act shall go into effect immediately.

Approved February 11, 1848.

Names of

Objects of

AN ACT to incorporate the Red Bank Association and Ferry

Company.

1. BE IT ENACTED by the Senate and General Assembly of corporators. the State of New Jersey, That John C. Smallwood, Joseph W. Reeves, Benjamin C. Tatem, Charles Whitall, William C. Bridges, George R. Graham, and A. H. Simmons, and such other persons as they may associate with them, their successors and assigns, be, and they are hereby created and made a body politic and corporate in law, by the name of "the Red Bank Association and Ferry Company," for the reception and incorpora transhipment of coal, and the establishment of a line or lines of steam vessels for the conveyance of passengers, cattle, and all other kinds of live stock, wagons or other vehicles, merchandise, and all other kinds of articles of produce, to and from the New Jersey shore, at or about Red Bank, in Gloucester county, on said shore, to League island, opposite, or the city of Philadelphia, or any point between League Island and the city of Philadelphia.

tion.

Amount of capital stock.

2. And be it enacted, That the capital stock of the said company shall not exceed one hundred thousand dollars, to be subscribed for in shares of fifty dollars each, which shall be

deemed personal property, and be transferable as the by-laws may direct.

3. And be it enacted, That the business of the company Directors to shall be under the control of a board of seven directors, who elect officers. shall be elected by the stockholders, at such times and places, and for such terms, as the by-laws may provide; the directors shall elect a president, secretary, and treasurer; all other officers and agents shall be appointed in such manner and for such terms as the by-laws may direct; in all elections and other questions, each stockholder shall have one vote for every share of stock belonging to him, which vote may be given in person or by proxy.

pany can

commence

4. And be it enacted, That as soon as twenty dollars on When com each share subscribed of the capital stock of said company shall have been paid in, and an affidavit thereof shall be made business. by some one of the associates named in the first section of this act, and filed in the office of the clerk of the county of Gloucester, it shall be lawful for the said corporation to go into operation.

books of sub.

5. And be it enacted, That John C. Smallwood, Joseph W. CommissionReeves, Benjamin C. Tatem, Charles Whitall, William C. ers to open Bridges, George R. Graham, and A. H. Simmons, or a ma- scription. jority of them, may open books and take subscriptions for the capital stock, in such manner as they may deem expedient; and whenever such subscriptions amount to twenty-five thousand dollars, the stockholders, having had two weeks' notice in writing, or in a newspaper published in the county of Gloucester, in which said notice shall be specified the time, place, and object of the meeting, shall proceed to elect such directors and officers, and make such by-laws, as they may deem necessary for conducting the affairs of the said corporation; and such directors and officers shall hold office until their successors shall be elected; and the remainder of the stock, if any, shall be disposed of by the directors of said corporation in such manner as shall be provided for by the by-laws of said corporation.

to build

6. And be it enacted, That the company shall be empowered company to build wharves and such appurtenances as shall be necessary wharves, &c. for the reception of coal and other merchandise, and for the sale and transhipment thereof, together with such buildings as may be required for the transaction of the business appertaining thereto; provided, the right of navigation shall not be affected thereby.

Books of ac

7. And be it enacted, That the directors shall at all times keep, or cause to be kept, proper books of account, in which count to be shall be regularly entered all the transactions and business of"

Place of business.

Limitation.

said corporation; which book shall, at all times during business hours, be open to the inspection of the stockholders of the said company.

8. And be it enacted, That the office and records of the company shall be kept at Red Bank, and the president and a majority of the directors thereof shall, at all times, be residents of this state.

9. And be it enacted, That this act shall have all the powers and privileges, and be subject to the restrictions, limitations, and conditions, as are specified and contained in the act entitled, "An act concerning corporations," approved February fourteenth, eighteen hundred and forty-six.

Approved February 11, 1848.

Charter extended,

Capital stock may be increased.

AN ACT to renew the charter of the Belvidere Bank, and increase the capital thereof.

1. BE IT ENACTED by the Senate and General Assenbly of the State of New Jersey, That the act entitled, "An act to incorporate the Belvidere Bank," passed February thirteenth, in the year of our Lord one thousand eight hundred and thirty, and the supplements thereto, be, and the same are hereby continued and extended for and during the term of twenty years from and after the time by the said act limited for its continuance, except that the president of said bank shall, at all times hereafter, be a resident of the county of Warren, in the state of New Jersey; and the provisions of this act, so far as relates to the continuance of the charter, shall take effect immediately upon the expiration of the term, in and by the said act entitled, "An act to incorporate the Belvidere Bank," limited for the continuance thereof.

2. And be it enacted, That if the stockholders of said comshall, at any time hereafter, deem it expedient, it shall be pany lawful for them to increase the amount of their capital stock to two hundred thousand dollars, in the same manner and under the same provisions as are directed in the original act, and the supplements thereto.

Approved February 11, 1848.

A further supplement to the act entitled, "An act to incorporate the city of Newark."

1. BE IT ENACTED by the Senate and General Assembly of Boundaries. the State of New Jersey, That all that part of the city of Newark, beginning at the Passaic river, at the middle of the present outlet of the Morris canal; thence extending along the said river and Newark bay, the several courses thereof, to the division line between the city of Newark and the township of Elizabeth; thence westwardly, along the said division line, to to the middle of the Essex and Middlesex turnpike road; thence northeasterly, along the middle of said turnpike road, until it intersects the New Jersey Railroad avenue; thence eastwardly, along the middle of said avenue, the whole length thereof; thence from the eastwardly termination of said avenue, along the middle of Market street, until it intersects River street; thence in a straight line to the place of beginning, at the Passaic river, shall be, and the same is hereby erected into and constituted a new ward, to be called the Fifth Ward of the said city.

2. And be it enacted, That the inhabitants of the said ward, by Rights and privileges of this act created, shall be vested with and entitled to all the rights, ward. powers, authorities, privileges, and advantages, and subject to the same regulations, government, and liabilities, to which the inhabitants, respectively, of the other wards of the said city are or may be entitled or subject.

mode of annual elec

tions.

3. And be it enacted, That an election by ballot shall be Time and held in the ward hereby constituted, on the second Monday in April next, and on the second Monday in April in every year thereafter, at such place as the common council shall appoint, of which the common council shall cause public notice to be given and published, as prescribed in the fifth section of the act to which this is a supplement; at which election four aldermen, (except as is herein after provided) one assessor, one collector, one judge of elections, one commissioner of appeal in school cases of taxation, one person to be clerk of the ward, two committeemen, and three constables, shall be chosen in the ward hereby created, from among the citizens residing therein, and entitled to vote at such elections; and the common council shall appoint a judge and two inspectors of election, and one person to be a clerk of such board of election, under whose direction the first election in said ward, on the second Monday in April next, shall be held; and the said election shall be conducted in the same manner and be subject to the same rules as are prescribed with respect to the elections in the wards of the said city heretofore constituted; and the provisions of the tenth

Aldermen, how elected.

Special po

section of the act to which this is a supplement, shall apply and be extended to the judges and clerk of the board, for the first election to be held under this act; and the person appointed clerk of such board shall procure an election box for said ward, in like manner as therein prescribed.

4. And be it enacted, That at the first, or a subsequent meeting of the common council, after the election to be held on the second Monday in April next, the members elected for the ward hereby created shall be divided into two equal classes, one of which shall go out of office at the expiration of the first year, and the other at the expiration of the second year; and that on the second Monday in April, of the year eighteen hundred and forty-nine, and every year thereafter, the ward hereby constituted shall elect two persons as aldermen of said ward, who shall hold such office for two years; and in case of the death, resignation, or other disability of any alderman for said ward, a person shall be duly elected to fill the vacancy, who shall hold for the unexpired term only.

5. And be it enacted, That there shall be in the ward hereby lice justices, created two special police justices, who shall be appointed by the Senate and General Assembly in joint meeting, and shall hold their offices for the like term, and have the like powers and authority, as the other special police justices in and for said city.

Part of for

pealed.

6. And be it enacted, That so much of the third section of mer act re- the act to which this is a supplement, as limits the number of aldermen in and for said city to sixteen, the number of assessors and of collectors, respectively, to four, and of constables to twelve, and so much of said act, or of any supplement thereto, as is inconsistent with the provisions of this act, be, and the same are hereby repealed.

Act, when to 7. And be it enacted, That this act shall take effect on the take effect. second Monday of April next, except so far as the provisions

of this act provide for or imply an earlier period for the performance of any acts or duties by this required or enjoined; and it shall be lawful for the joint meeting, at any time before said second Monday of April, to appoint two special police justices in said ward, who shall enter on the duties of their office on the second Monday in April next; and the common council of the city of Newark shall, before that period, take such proceedings as are hereby set forth and enjoined for the purpose of the organization of the said ward and the due conducting of the first election under this act; and the clerk of the board for such election shall also provide in due season, before the said second Monday in April, a proper election box for the use of the ward, as is herein before enjoined.

Approved February 11, 1848.