Preamble. Trustees em- AN ACT appointing trustees to sell and convey the real estate of William WHEREAS William C. Elmendorf, late of the county of Somerset, died seized of certain real estate, in the counties of Hunterdon and Somerset, leaving a widow and five children, all of which children are under the age of twenty-one years; and whereas the said property is so situated, as to be incapable of division, and cannot be sold in the ordinary way, by commissioners appointed by the Orphans' Court, without great detriment to those interested; and it is expedient that parts of the property should be sold at this time, and that other parts should be leased until they can be disposed of to advantage; and the widow of the said decedent, in behalf of herself and her orphan children, having requested aid in the premises, and that trustees may be appointed for the purposes aforesaid-now therefore, SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That James B. Elmendorf and Peter D. Vroom, be, and they are hereby appointed trustees, with full power and authority to sell for the best prices they can obtain for the same, all or any part of the said premises, of which the said William C. Elmendorf, died seized, in the state of New Jersey, dorf, deceased at such time or times, and in such mode as they may deem most advantageous for those interested; and for the same or any part or parts thereof, when so sold, to make and execute good and sufficient conveyances in the law; which said conveyances executed by the said trustees, or the survivor of them, shall vest in the purchaser or purchasers, all the estate, right, title, and interest, which the said William C. Elmendorf had at the time of his death, in the premises so sold and conveyed as aforesaid; and also, that the said trustees, or the survivor of them, shall have power and authority to demise and lease such part or parts of said premises as may remain unsold, until the same shall be disposed of. SEC. 2. And be it enacted, That the said trustees, or the survivor of them, shall keep a just and true account of such sale or sales as they shall make by virtue of the authority hereby granted; and after deducting the expenses attendant on the execution of this trust, shall invest the same in good and ceeds of sales sufficient securities upon interest, for the benefit of the said to be applied. widow and minors; the said widow to receive to her own How pro use during her natural life, and in lieu of her right of dower, the one third part of the interest of the said proceeds; and the other two thirds thereof to be paid annually to the guardian or guardians of the said minor children, until they respectively come of lawful age; and then that the said trustees, or the survivor of them, shall pay to each of them, so arriving at lawful age, his or her distributive share of the principal remaining in their hands. SEC. 3. And be it enacted, That the said trustees shall also keep a just and true account of all the moneys that may be received, by way of rent, for the use and occupation of any portion or portions of said property; and shall pay over the Application net proceeds thereof to the widow, and to the said minors or their guardians, according to their respective rights and interests therein. of rents. SEC. 4. And be it enacted, That before the said trustees shall enter upon the execution of the trust hereby confided to them, they shall give bond to the governor of this state, in Trustees to such sum and with such security as shall be directed and apgive bond. proved of by the surrogate of the county of Somerset, conditioned for the faithful performance of the said trust; which bond shall be filed of record in the office of the said surrogate, for the benefit of all parties interested. Passed February 18, 1833. AN ACT to authorize William Brewer and David B. Morgan, administrators of Edmund Brewer, deceased, to execute a certain contract therein named. WHEREAS it appears that Edmund Brewer, late of the county of Gloucester, and state of New Jersey, in his life time, entered into a written agreement with Richard Davis, to sell and convey to him two certain tracts or lots of land, situate in the county of Gloucester, being the same lots which the said Edmund Brewer, deceased, purchased of Jonathan Morgan, by deed dated seventh November eighteen hundred and fourteen, and now in the possession of the said Richard Davis, and that the consideration money has been paid by the said Richard Davis to the said Edmund Brewer, in his life time-therefore, Preamble. Administra SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That the said William Brewer and David B. Morgan, tors of Edadministrators of Edmund Brewer, deceased, be and they are mund Brewer hereby authorized and empowered, to make a deed of convey- empowered to ance unto the said Richard Davis, for the above mentioned make a deed lots of land, according to the terms of the said agreement; Richard Dawhich shall have the same force and effect, as a deed from the vis. said Edmund Brewer, in his life time, would have had. Passed February 18, 1833. for lands to Etyle of incorporation. Powers. Amount of AN ACT to incorporate the Union Beneficial Society of the county of SEC 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That Nathaniel Bobbins, James Smashey, George C. Rumsey, John W. Challis, David E. Williams, Thomas Sayre, John P. M'Cune, Thomas E. Mulford, John P. Cooper, Maskell Mulford, Nathan D. Pew, William P. Mulford, Isaac Sutton, Enoch S. Reed, Samuel Mulford, Mark Riley, William Burnhart, and all such other persons as now are, or hereafter shall become associates of the Union Beneficial Society of the county of Salem, shall be and they are hereby constituted and declared to be a body politic and corporate in fact and in law, by the name of the Union Beneficial Society of Salem. SEC. 2. And be it enacted, That the said corporation, by such name shall have perpetual succession, and be a body politic and corporate in law, capable of suing and being sued, pleading and being impleaded, defending and being defended, in all courts of law and equity, and may have a common seal, and have power to alter the same at their. pleasure, and by their common seal enter into and execute contracts and agreements; and such corporation shall have full power to make and adopt such laws and regulations as they may think proper, not inconsistent with the laws of the United States or of this state. SEC. 3. And be it enacted, That the capital stock of said corporation shall not exceed the sum of three thousand dollars, which shall be applied to the nursing and attendance of capital stock members while sick, the purchase of necessaries for such and its appli- sick members, the payment of physician's bill, the funeral expenses of deceased members, and such other incidental expenses as may be needful to further the objects of the said. society. cation. Election of officers. SEC. 4. And be it enacted, That the said corporation shall have power to elect annually, out of their own body, a president and such other officers and assistants as shall be necessary for conducting the affairs of said corporation according to their constitution: and the president shall keep in his custody the common seal of said corporation, and deliver it at the expiration of his term of office, to his successor. SEC. 5. And be it enacted, That the constitution and bylaws of said corporation shall be binding and imperative on the different members, and may be enforced by suit against members may defaulting members, in the corporate name of said company, before any court having competent jurisdiction. Delinquent be sued. SEC. 6. And be it enacted, That the legislature may at any time hereafter, alter, amend, modify or repeal this act, as they may think proper. Passed February 19, 1833. AN ACT to incorporate the Manufacturing Company of Clinton, New SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That John W. Bray, John B. Taylor, and such other Style of incor person or persons as now are, or hereafter may be associated poration. with them, and their successors, be, and they are hereby constituted, and declared to be a body politic and corporate in fact, name, and law, by the name and style of "the Manufacturing Company of Clinton, New Jersey," for the purpose of establishing and carrying on manufactures of iron, wool, cotton, flax, flaxseed, and other articles of American growth or production, at, or in the vicinity of Clinton, in the county of Hunterdon; and by that name, they and their successors shall and may have continual succession, and be persons capable in law of contracting and being contracted with, suing and being sued, pleading and being impleaded, answering and being an- Powers. swered unto, defending and being defended, in all courts and places whatsoever, in all manner of actions, suits, causes, complaints, and matters whatsoever; and may have and use a common seal, and make, alter, change, and renew the same at pleasure; and that they and their successors by the same name and style, shall be capable of purchasing, holding, using, and conveying, any estate real or personal, for the use of the said corporation: Provided, that the real estate to be purchased Proviso. and holden by the said corporation, shall be such only as is now owned by Archibald S. Taylor, at and in the vicinity of Clinton, aforesaid, or as may be necessary for the purposes of carrying on the manufacturing operations for which this incorporation is established, and such other, as shall have been bona fide mortgaged to said corporation by way of security, or conveyed to them in satisfaction of debts previously contracted in the course of its dealing, or purchased at sales upon judgments, or decrees, which shall have been obtained for such debts. capital stock. SEC. 2. And be it enacted, That the capital stock of the said corporation, shall be one hundred and twenty thousand Amount of dollars, which shall be divided into shares of one hundred dollars each, but it shall nevertheless be lawful for the said corporation, when, and so soon as twenty thousand dollars, of the said capital stock shall have been subscribed and paid, to commence their business; and with that capital, conduct and carry it on, until they shall find it expedient to extend their capital, which the president and directors of said company, are authorized to do from time to time, by receiving new subscriptions to their capital stock, to the amount herein before mentioned, and it shall be lawful for the president and directors of said company for the time being, to call in and demand ૨ Stock forfeit ed on failure to pay install ments. from the stockholders, respectively, all such sums of money by them subscribed, at such times and in such proportions, as they shall deem proper, upon pain of forfeiting the shares of said stockholders, on which default shall be made, and all previous payments thereon, if such payments shall not be made within sixty days after notice, requiring such payment, shall have been given in one or more newspapers published in the county of Hunterdon and in the city of New York. SEC. 3. And be it enacted, That John W. Bray, John B. Commission- Taylor, and Peter H. Huffman, shall be commissioners, whose ers to receive duty it shall be, to open books to receive subscriptions to the subscriptions. capital stock of the said corporation, in the first instance, at Qualifica tors. some suitable place in the county of Hunterdon, upon giving twenty days notice in two or more of the newspapers published in this state, of the time and place of opening such books; and also, of the amount of the first installment, then to be paid; and as soon as stock to the amount of twenty thousand dollars, shall be subscribed, it shall be the duty of the said commissioners, to give a like notice for the meeting of the stockholders, to choose five directors; and the said commissioners shall be inspectors of the first election of directors of said company; and shall certify under their hands, the names of those duly elected, and deliver over to them the subscription books, and the moneys and securities received for subscriptions; and the said commissioners shall appoint the time and place of holding the first meeting of directors. SEC. 4. And be it enacted, That the stock, property, business, and affairs of the said corporation, shall be managed and conducted by five directors, who shall at all times during their continuance in office, be citizens of the United States, and tions of direc- stockholders in the said company, in their own right, to the amount of at least five shares; and the said directors shall be elected on the last Monday in April, in each year, and shall hold their offices for one year, and until others shall be elected in their stead, which election shall be held at such hour of the day, and at such place as the board of directors for the time being, shall appoint, under the inspection of three stockholders, not being directors, to be appointed by the board of directors tion. previous to every such election, and such election shall be made Mode of elec- by ballot and by a plurality of the votes of the stockholders then present, or their proxies, allowing one vote for every share of said stock; but no share shall entitle the holder to vote, unless the same shall have been held by him at least sixty days next immediately preceding such election; of which election, public notice shall be given, in two of the newspapers printed in this state, at least twenty days next preceding such election. Corporation not dissolved on failure to elect on day prescribed. SEC. 5. And be it enacted, That if it should at any time happen that an election of directors should not be made on any day when, pursuant to this act it ought to have been made, the said corporation shall not, for that cause, be deemed |