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To give bond.
judgment of the said guardian it will best subserve their interests, to sell and convert into money, and invest the nett proceeds of such sales in some safe securities, drawing interest under the direction of the orphans' court, of the county of Burlington: Provided nevertheless, that before the guardian make sale as aforesaid, he give bond to the governor of this state, in such sum and with such security as the orphans' court of said county may direct and approve, if any additional security shall be deemed necessary by said court.
Passed October 30, 1833.
AN ACT to incorporate a Company for carrying on the
Whale and Seal Fisheries from the port of Newark, in the County of Essex, in this State, and for the purpose of manufacturing Oil and Candles. .
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 all such persons as shall become subscribers to the capital stock hereinafter mentioned, their successors and assigns, shall be and are hereby ordained and de
clared to be a body politic and corporate, by the name of Style of incorpo- “ The Newark Whaling, Sealing and Manufacturing Com
pany," and by that name they and their successors, may and shall have succession, and shall be in law, capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in all courts and places whatsoever : that they and their successors may have and use a common seal, and may change, alter and renew the same at pleasure, and by the aforesaid name of incorporation, shall be in law capable of purchasing, holding, and conveying any estate, real or personal, for the use of the said corporation.
Sec. 2. And be it enacted, That the original capital stock of said company, shall be one hundred thousand dollars, with liberty to increase the same to any amount not exceeding five hundred thousand dollars, which stock shall be divided
into shares of fifty dollars each. ssioners Sec. 3. And be it enacted, That John H. Stevens, William to receive sub- Wright, John S. Darcy, Elias E. Boudinot, William Penningscriptions to
ton, or a majority of them be, and they are hereby authorized
to receive subscriptions to the capital stock of said company, and shall open books of subscription at such times and places, and for such space of time as they may appoint.
Sec. 4. And be it enacted, That the subscriptions to the capital stock aforesaid, shall be paid in the manner following, Mode of pay,
'ment of capital viz: five dollars on each share to the persons receiving sub- stock. scriptions, at the time of subscribing; and the remainder in instalments, not exceeding five dollars on each share, to the directors of said company, for the time being, at such times as the said directors may appoint, always giving thirty days notice thereof, in one or more of the newspapers printed in Newark; and any person or persons, copartnership or body politic, failing to pay any instalment, for thirty days after the time appointed for payment thereof, shall forfeit to said company every share upon which such payment shall not be made, and all payments previously made thereon.
Sec. 5. And be it enacted, That the said commissioners shall make an equitable deduction and distribution of the Distribution of stock among the subscribers thereto, in case more shall be stock. subscribed than the whole amount of capital, and shall pay over to the directors first chosen, on the day they are so chosen, or as soon thereafter as may be required, the amount of all moneys received by them, and shall also, at the same time, deliver over to the said directors, the original books of subscriptions.
Sec. 6. And be it enacted, That as soon as five hundred shares are subscribed, the persons herein empowered to receive subscriptions, or a majority of them, may call a meeting of subscribers to be held at Newark, giving at least three weeks notice of the time and place of meeting in two or more newspapers of the state, one of which shall be published in the town of Newark, and the subscribers, so assembled, shall choose by ballot from among themselves, by a majority of the Directors to be votes given, seven directors, who shall hold their office for chosen one year after said election, and until others are elected in their stead; that the next election for directors of said company, shall be held on the first Tuesday of April, one thousand eight hundred and thirty five; and on the first Tuesday of April annually thereafter, at such time and place, in the townof Newark, as the directors for the time being shall direct; of which Notice of elecelection public notice shall be given in one or more newspapers 'ion. of the state, at least two weeks previous to such election; and every such election shall be by ballot, and each stockholder Mode of voting. present, shall be entitled to as many votes as he shall hold shares of the capital stock of said company; and the persons : being stockholders, having the greatest number of votes, shall be the directors and in case of death, resignation, refusal, Vacancies sup.. disqualification or removal of any director, the remaining di- plied. rectors at their first regular meeting thereafter, may choose a
failpre to elect on
person in his place, for the residue of the year or term; and
the directors chosen, or a majority of them present, at their President to be first meeting, after every general election, shall by ballot
from among themselves, by a majority of the directors, elect
a president, and in case of the death, refusal, resignation, disVacancy sup- qualification or removal of the president, the said directors plied.
shall meet as soon as convenient thereafter, and elect in manner before mentioned a President in his stead, for the remain
der of the year or term. Corporation not
Sec. 7. And be it enacted, That in case at any time an dissolved, for election should not be made on the day specified in this act, davreiher the corporation for that cause shall not be deemed to be dis
solved, but it shall and may be lawful to hold such election on such other day as shall be prescribed by the by-laws and ordinances of said corporation.
Sec. 8. And be it enacted, That a majority of the direcDuties of direc
tors for the time being, shall form a board for the transaction of the business of the said company, and shall have power to ordain, establish, and put in execution such by-laws, ordinances and regulations, not repugnant to the laws and constitution of this state and of the United States, as shall be necessary and convenient for the government, management and disposition of the property, stock, effects, profits and concerns of said company, and shall and may appoint all such officers, agents and servants of said company, as to them shall seem necessary, and allow and pay them such compensation for their services as to them shall appear just and reasonable.
Sec. 9. And be it enacted, That the capital stock of said company, shall be employed in prosecuting and carrying on
from the port of Newark, the fishing for whales, seals and seastock to be em- fish in the Atlantic, Pacific and Indian oceans and elsewhere, ployed.
and in the manufacturing of oil and candles in the town of Newark, in the purchasing, building, equipping and fitting out of ships and vessels, to be employed in the above business, and in the purchase of such lands and tenements, and erection of such building or buildings as may be requisite for the prosecution of the above business: and it shall and may be lawful for the said company to make and execute all proper and necessary contracts with the masters, mariners and other persons therein employed, and to have and to hold the said ships and vessels, lands and tenements, and the produce of such fisheries and manufacturing as aforesaid, and every thing appertaining to or connected therewith, and to sell and dispose of the said ships and vessels, and the cargoes of oil, skins, and other articles procured, taken and brought therein, or manufactured therefrom, and generally to do and perform all and every such act and acts as may be necessary and proper to carry into effect the purposes hereof.
Sec. 10. And be it enacted, That the said corporation
estate and how transferred,
shall not hold or purchase any lands, tenements, or other real estate, other than may be necessary for the convenient What lands may transacting of the business as afuresaid, unless such lands, be held by com
pany. tenements, or other real estate, shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in course of dealing, or purchased to secure debts previously contracted with the corporation, and due to it: and in every instance in which the said corporation may become the owner or claimant of lands, tenements, or real estates, the president and directors are empowered to sell and dispose of the same in such manner as they shall deem for the interest of the corporation.
Sec. 11. And be it enacted, That the stock and property Stock, personal of said company, of whatever nature or kind, shall be deemed i personal estate and shall be transferable in such manner as shall be prescribed by the by-laws, and ordinances of said corporation, but no transfer of stock shall be valid, unless it be entered or registered in the book or books to be kept by the corporation for that purpose.
Sec. 12. And be it enacted, That the directors shall at all Books open to times keep, or cause to be kept at the office of the corporation, inspection. proper books of account, in which shall be regularly entered, all the transactions of the said company, which books shall always and at all times, be open to the inspection of the stockholders of said company, and shall annually prepare a general statement of the affairs of the company, which shall be exhibited at the office of the corporation for the inspection of the stockholders at least three weeks, previous to the annual election.
Sec. 13. And be it enacted, That no dividend shall be , made among the stockholders, except out of the profits of the employed in business of the said company; that the said company shall banking. not employ any of their funds in any banking operation, and that this act shall be and continue in force for the term of thirty years from the passing thereof, and from thence to the next session of the Ligislature, and no longer.
Sec. 14. And be it enacted, That it shall and may be lawful for the legislature of this state, at any time hereafter, to alter, modify or repeal this act as the public good may require.
Passed Ociober 30, 1833.
ot to be
AN ACT to dissolve the marriage contract between James
Goodwin and Ann P. his wife. Sec. I. BE IT ENACTED by the Council and General As-' sembly of this state, and it is hereby enacted by the authority of the same, That the marriage contract between James Goodwin and Ann P. his wife, of the county of Warren, be, and the same is hereby declared to be dissolved to all intents and purposes whatever; and the said James Goodwin and Ann P. his wife, are hereby declared to be set free from their matrimonial contract, as fully as if they had never been joined in matrimony.
Passed October 31, 1333.
AN ACT to divorce Elizabeth Ann Dunn from her husband
Andrew Dunn. Sec. I. 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 marriage of the said Andrew Dunn and Elizabeth Ann Dunn, be, and the same is hereby forever dissolved, as fully, as if they had never been joined in matrimony; Provided nevertheless, that the issue of such marriage shall be considered legitimate.
Passed October 31, 1833..
AN ACT to incorporate the “ Hanover Paper Manufacturing
Company." 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 Robert Donaldson, John S. Darcy, Abraham Reynolds, Elijah Ward, Robert Donaldson, jr. and such other persons as may be hereafter associated with them, their successors and assigns, be, and are hereby constitutea