ited to thirty years, and that the legislature may alter, amend or repeal this act whenever the public good may require it. 12. And be it enacted, That this act shall take effect immediately.

Approved March 22, 1860.

Election of collector of taxes.

Part of former act repealed.

CHAPTER CCXIX.

AN ACT to authorize the election of one collector of taxes in the township of Woodbridge, Middlesex county, instead of two, as heretofore.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That hereafter there shall be elected in the township of Woodbridge, in the county of Middlesex, one collector of taxes for the whole of said township, instead of two collectors of taxes, as heretofore.

2. And be it enacted, That the act to erect an election district in the township of Woodbridge, in the county of Middlesex, approved March eighteenth, eighteen hundred and fiftyeight, be and the same is hereby repealed.

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

Approved March 22, 1860.

CHAPTER CCXX.

AN ACT to incorporate the Lambertville and Rocky Hill Turnpike

Company.

porators.

1. BE IT ENACTED by the Senate and General Assembly of Names of cor the State of New Jersey, That Ingham Coryell, Charles A. Skillman, Alexander B. Holcombe, Bloomfield Blackwell, David O. Larue, Jacob Young, Joseph B. Dalrymple, John L. Case and John Riley, and such other persons as may hereafter be associated with them, shall be and are hereby constituted a body politic in law, by the name "the Lambertville and Rocky Hill Turnpike Company."

capital stock.

2. And be it enacted, That the capital stock of said corpo-Amount of ration shall be twenty thousand dollars, and shall be divided into shares of fifty dollars each, which shall be deemed personal estate, and shall be transferable in such manner as the by-laws of said corporation shall direct, and that said corporation may increase the capital stock to any sum not exceeding one hundred thousand dollars.

ers to receive

3. And be it enacted, That Henry Mathew, Cornelius CommissionArnet, William Runyon, Ferdinand S. Holcomb, Andrew J. Subscriptions. Lanning, Charles Wilson, Jacob Williamson, Jacob S. Durham and John Quick, or a majority of them, shall be commissioners to receive subscriptions for the capital stock of said corporation, and they, or a majority of them, are hereby authorized for that purpose to open books of subscription, at such times and places as they, or a majority of them, shall appoint, giving twenty days notice of such times and places in at least one newspaper published in each of the counties of Hunterdon and Mercer, and at such times and places so fixed the said commissioners, or a majority of them, shall attend and receive subscriptions to the capital stock, and if more shall be subscribed than by this act is authorized, the

Election of directors.

Payment of installments.

said commissioners, or a majority of them, shall apportion the same as to them shall seem fair, equitable and just, and at the time of subscribing for said stock the sum of five dollars on each share subscribed shall be paid to the said commissioners, in specie or its equivalent, and the residue may be called in and shall be paid in such amounts by installments, as is by this act hereinafter directed.

4. And be it enacted, That whenever there shall be two hundred shares of the said stock subscribed, and six thousand dollars paid in as above directed, the said commissioners, or a majority of them, shall give public notice for ten days, in one or more newspapers of this state, of a meeting of the subscribers to said stock, for the purpose of choosing direc tors and organizing the said company, and of which said election the said commissioners, or a majority of them, shall be the judges, which subscribers so met shall proceed to elect by ballot from among the stockholders thirteen directors, a majority of whom shall be citizens and residents of this state, and hold their offices for one year and until others are elected, and such stockholder at such election, and at all future elections of said corporation, shall have one vote for each share he, she or they may hold in his, her or their names at least fifteen days before the time of such election, and that such stockholders may vote at any election by proxy duly authorized for that purpose.

5. And be it enacted, That the said board of directors so to be chosen as aforesaid shall and may elect out of their body, or from among their stockholders, a president, who shall be a resident of this state, and such other officers, with such salaries as they may deem proper; and shall and may employ such artificers, engineers, agents, laborers and workmen, with such compensation as shall appear to the said directors reasonable and just; and shall and may make, ordain and establish such by-laws and regulations for their own government, and that of the persons by them employed, as shall from time to time be necessary to effectuate this charter; and a majority of said board shall at all times be a quorum

for the transaction of business, and may have power to call in the remainder of the capital stock of said corporation by installments not exceeding five dollars on each share, by giving thirty days' notice of such required installments in one or more newspapers circulating generally in the neighborhood where such stockholders reside; and if any stockholder refuse to pay the same, he, she or they so neglecting or refusing shall forfeit their stock and all payments made thereon; and the said board of directors shall and may require from the treasurer such security as to them shall seem just; provided always, that no by-law or regulation of Proviso. said company shall be inconsistent with or repugnant to the constitution and laws of this state or of the United States, or this charter.

ers to pay

6. And be it enacted, That when the said board of direc- commissiontors are so elected and chosen, the said commissioners are over money. hereby authorized and required to pay over to the said board of directors, or to such person as they, or a majority of them, shall direct, all moneys they have received for the subscription to the said capital stock, first deducting therefrom all expenses to which they have been exposed for books, printing or other expenditures, and the sum of one dollar per day for each and every day they have been employed in the duties of their appointment; and the directors so chosen, and their successors, shall annually thereafter cause an election to be held at such time and place as their by-laws shall direct, for directors for said corporation; and such directors, so annually chosen, shall in like manner have power to elect their president and other officers, agents, engineers, workmen, and other artificers, as is by the fifth section of this act herein provided; and shall and may have power at all times to remove their officers and other persons appointed, and to appoint others in their stead, if the interests of the company shall require it; and also to have power to fill all vacancies in the offices of said corporation which may or shall happen by death, resignation or otherwise.

Corporation

not dissolved

7. And be it enacted, That in case it should happen that

for failure to an election of directors should not be made on the day or at

elect on day

prescribed.

Description of road.

the time when, pursuant to this act, it ought to be made, the said corporation shall not for that cause be deemed to be dissolved, but such election may be held at any other time; and the directors for the time being shall continue to hold their offices until new ones shall have been chosen in their places.

8. And be it enacted, That the president and directors of the said company are hereby authorized and invested with all the rights and powers necessary and expedient to survey, lay out and construct a plank or turnpike road, not exceeding sixty feet in width, to be formed a special artificial road of not less than sixteen feet in width continuous, either of substantial plank or timber, or of stone, gravel or other hard substance, laid down in a firm and workmanlike manner, so as to present a good, smooth and sufficient road at all seasons of the year, and in no case to rise above an angle of ten degrees with the plane of the horizon; and the said company shall construct, keep in repair, maintain and make good and sufficient bridges along the line of said road, to commence at some point in or near the town of Lambertville, in the county of Hunterdon, and thence, passing by the most convenient and eligible course, to some point near the basin of the Delaware and Raritan canal, at Rocky Hill, in the county of Somerset, with a branch from the same at or near the village of Ringoes to the Ringoes station on the Flemington railroad; and it shall or may be lawful for the president and directors, their agents, engineers, superintendents, or others in their employ, to enter at all times upon all lands or water for the purpose of exploring, surveying, leveling or laying out the route or routes of such road, and of locating the same, doing no unnecessary injury to private property; and when the route of such road shall have been agreed upon and filed in the office of the secretary of state, then it shall be lawful for the said company, by its officers, agents, superintendents, contractors, workmen, and other persons in their employ, to enter upon, take possession of, hold, have, use, occupy and excavate any such lands, and