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tageous for exploring, mining, conveying, cleansing and manufacturing franklinite and other ores, and to sell, lease and mortgage the same, or any portion thereof, together with all the powers and privileges, and subject to such restrictions, limitations and conditions as are specified in the act entitled “An act concerning corporations, approved February the fourteenth, eighteen hundred and forty-six,” except as otherwise granted in and by this act of incorporation, and this act shall continue in force for the term of thirty years.

2. And be it enacted, That the capital stock of this com-Amount of

pany shall be two millions five hundred thousand dollars, divided into shares of fifty dollars each, and the said shares shall be deemed and considered personal estate; and it shall be lawful for said company to grant certificates of shares in full or part payment for any of the real and personal estate and mining rights that may be purchased or leased, and by the by-laws to compel payments of installments, not exceeding ten dollars on each share at any one time, not deemed or declared full stock; and on failure to pay any installment, to forfeit the stock and all previous payments made thereon, giving at least sixty days previous notice of such call and demand in a newspaper published in the counties of Sussex and Hudson, and in the city of New York.

capital stock

3. And be it enacted, That the before named persons shall Firstdirectors.

be the first directors to organize and manage the affairs of said company, and shall continue in office until the third Tuesday in May, eighteen hundred and sixty-one, and until others are elected or appointed and qualified in their stead;

provided, that in case of death, resignation or disability of proviso.

any member of the board, the majority of the directors for the time being may fill the vacancy.

4. And be it enacted, That the property and affairs of this Amtrs

company shall be managed and conducted by nine directors, being shareholders, a majority of whom, together with the secretary, shall be residents of this state; and the secretary shall keep an office in Jersey City, or where the manufacturing business may be carried on; the president shall be

to be ed b nine directors. Annual election of directors.

appointed from among the directors, and the directors shall
have power to make all needful by-laws not inconsistent with
the laws of this state or of the United States.
5. And be it enacted, That the annual election of directors
shall take place on the third Tuesday of May in each year,
commencing on the third Tuesday in May, eighteen hundred
and sixty-one, at some convenient place in Jersey City, in
the county of Hudson, between the hours of twelve o'clock,
noon, and three o'clock in the afternoon of that day; all
elections shall be by ballot, and each share be entitled to one
vote, and the vote may be by person or proxy, two weeks'
previous notice shall be given in a newspaper published in
each of the counties of Sussex and Hudson, and city of New
York; and if from any cause an election for directors shall
not take place at the appointed time, it shall not therefore
work a forfeiture of this charter, but a new election shall be
ordered in conformity to the by-laws of said corporation.

Transfers to be 6. And be it enacted, That no transfer of stock of said

registered.

corporation 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,
which said book or books shall be closed for the purposes of
transfer of stock fifteen days before each election for direct-
ors, and no person shall be allowed to vote upon any stock,
unless the same has been transferred to him or her, and reg-
istered in the said transfer books more than fifteen days
prior to the election at which he or she claims to vote; and
all the books of said corporation shall be open to the inspec-
tion of the stockholders.
7. And be it enacted, That this act shall take effect imme-
diately after the passage thereof.
Approved March 8, 1860.

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AN Act to authorize William White, Edgar B. Wakeman and Sam-. uel Westcott to build wharves, piers and bulkheads in front of their lands on the Hackensack river, in Bergen township, Hudson county.

1. BE IT ENACTED by the Senate and General Assembly of whom while

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the State of New Jersey, That William White, Edgar B. o. Wakeman, and Samuel Westcott, be and are hereby authorized and empowered to erect and maintain all such, wharves, piers and bulkheads in front of their lands on the Hackensack river, or Newark bay, in the township of Bergen, Hudson county, as may be necessary for the improvement of their property, or the benefit of commerce, and to collect wharfage for the use thereof, and to hold and enjoy the same to themselves, their heirs and assigns; provided however, that no proviso. such wharf, pier or bulkhead shall be erected on said river by virtue of this act, in front of the land of any other person, and constructed as not to interfere with or obstruct the navigation of said river or bay. -

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

Approved March 8, 1860.

omce of overseer of roads abolished.

Former acts repealed.

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A further supplement to an act entitled “An act to incorporate the

city of Rahway,” approved February twenty-sixth, eighteen hun

dred and fifty-eight.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the office of overseer of roads be and the same is hereby abolished within the limits of the city of Rahway, and that all that portion of the money hereafter voted by the township of Rahway for road purposes, which shall be assessed against and collected of persons of property within said limits, shall be paid by said township to the treasurer of said city, whose receipt shall be a full discharge therefrom, which said money shall be used and applied by said city solely for road and street purposes in said city, under the direction of the mayor and common council thereof.

2. And be it enacted, That all acts and parts of acts which conflict with the provisions of this act, be and the same are hereby repealed.

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

Approved March 8, 1860.

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A supplement to the acts concerning the incorporations of Agricultural and Horticultural Societies in the state of New Jersey.

1. BE IT ENACTED by the Senate and General Assembly of provisions of the State of New Jersey, That all the provisions grantingto: additional powers and police jurisdiction within the distance of one mile from the boundaries of the grounds on which said fairs and exhibitions shall be held, with power within that distance to prevent the unlawful sale of ardent spirits, and to prevent gambling, and every breach of the peace or laws of the state, together with all the other provisions granted to the New Jersey State Agricultural Society, by an act approved March twenty-third, eighteen hundred and fiftynine, be extended to all other agricultural and horticultural societies within the state.

2. And be it enacted, That this act shall be taken and con- rutheast. sidered a public act, and shall take effect immediately.

Approved March 8, 1860.

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