the city treasury or some bank, to the credit of said owner or owners, and upon complying with the above the title to said lands shall be vested in the city of Bergen and dedicated for the public use.

10. And be it enacted, That section seven of an act en- Amendment. titled "A Further Supplement to the act entitled 'An Act to incorporate the city of Bergen,"' approved April second, eighteen hundred and sixty-nine, be amended as to Academy street therein mentioned, by adding thereto : "provided, that Proviso. on the northerly side of said Academy street from the easterly side of Mill road, now Cornelison avenue, to the line of Jersey City, there shall be no sidewalk, and on the southerly side of said Academy street, between the said points, the sidewalk shall be fifteen feet in width," and so much of said section as is inconsistent herewith is hereby repealed.

11. And be it enacted, That section eight of said act en- Amendment. titled "A Further Supplement to the act entitled 'An Act to incorporate the City of Bergen,'" approved April second, eighteen hundred and sixty-nine, be amended by adding after the words, and Hudson avenue from Palisade avenue to the Bergen Point plank road," the words "and Academy street from the line of Jersey City to Palisade avenue," and by adding to the said section the words "and the mayor and aldermen of the city of Bergen are hereby authorized and empowered to remove, or cause to be removed, all projections, encroachments and encumbrances, on or upon said Academy street, in the manner provided for by section thirty eight, subdivision five, of the charter of the said City of Bergen;" pro- Proviso. vided, that the provisions of this section shall not apply to any property fronting on Summit street and High street, east of Summit street, and assessed for the improvement of said

street.

assessments to

nual install

ments.

12. And be it enacted, That any assessment to be assessed Payment of for the improvement of Grand street and the Newark plank be made in anroad from Bergen avenue to Mill creek, and for the improvement of Montgomery street from Bergen avenue to Mill creek, shall be made payable in five annual installments, and it shall be lawful for the mayor and board of aldermen to charge and receive interest on said installments as follows: for the first installment at the rate of eight per centum per annum, and for each succeeding installment at the rate of nine per centum per annum, and on all assessments remaining unpaid at the expiration of five years from the date of the confirmation of

said assessments, it shall be lawful for the mayor and board of aldermen to proceed to collect the same as now provided for in the act to which this is a further supplement, and the mayor and board of aldermen are hereby authorized to borrow the amount of the cost of said improvements, in either registered or coupon bonds for not less than five nor more than ten years, said bonds to bear interest at and after the rate of seven per centum per annum, and payable semi-annually, the bonds to be designated upon their face for what improvement they are issued, and shall not be sold for less than ninety-five per centum of their par value, and the proceeds of the sale of said bonds shall not be used for any other purpose; all assessments on the improvements above named collected shall be paid over to the sinking fund commissioners to be by them invested in United States bonds or state bonds, or improvement certificates of the city, and held for the payment of said improvement bonds when they become due.

13. And be it enacted, That this act shall be declared a public act, and shall take effect immediately. Approved March 17, 1870.

May constr ct railroad from

Springfield.

CHAPTER CCCCLXI.

Supplement to an act entitled "An Act to incorporate the Elizabeth City Horse Railroad Company," approved April second, eighteen hundred and sixty-nine.

1. BE IT ENACTED by the Senate and General Assembly of Elizabeth to the State of New Jersey, That the said company shall have power and authority to lay down and construct a rai'road, with the necessary turnouts and switches, from a point in Morris avenue, at or near the railroad depot in the city of Elizabeth, and along Morris avenue and the road of the Morris Turnpike Company to Springfield, in the county of Union, subject to the restrictions and conditions imposed by the act to which this is a supplement.

Right of way.

2. And be it enacted, That the said company be and they

are hereby authorized and empowered to negotiate with and purchase the right of way over the said route, from any persons or corporations owning the same, which said persons and corporations are hereby authorized and empowered to convey the same to the said company.

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

Approved March 17, 1870.

CHAPTER CCCCLXII.

An Act to incorporate the Medford and Tuckerton Railroad Com

pany.

Names of cor

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Thomas D. Armstrong, Jarvis porators. H. Bartlett, Henry P. Ely, Josephus Sooy, Benjamin F. Shreve, Henry Budd, W. W. Greenland, Levi French, William Sooy, Richard Harris, John R. Slack, Samuel Crowly, Nathan Wright, Edward Thompson, Richard Haines, and such other persons as may be hereafter associated with them, shall be and they are hereby ordained, constituted and declared to be a body corporate and politic, in fact and in name, by the name of "The Medford and Tuckerton Railroad Company," Corporate and shall be capable of purchasing, holding and conveying any lands, tenements, goods and chattels whatsoever necessary and expedient for the objects of this corporation.

name.

2. And be it enacted, That the capital stock of the said Amount of company shall be five hundred thousand dollars, with liberty capital stock. to increase the same to one million dollars, which shall be divided into shares of fifty dollars each, which shall be deemed personal property, and transferable in such manner as the said corporation shall by their by-laws direct.

3. And be it enacted, That the above named persons, or a Commissionmajority of them, shall be commissioners to open books to re- subscriptions.

ers to receive

Election of directors.

Vacancies, how filled.

Failure to

elect not to dissolve.

ceive subscriptions to the capital stock of the said corporation at such time and place as they, or a majority of them, may think proper, giving at least ten days' notice in one of the newspapers published in Burlington county, and that at the time of subseribing ten per centum shall be paid on each share subscribed to the commissioners, or some of them, and when one hundred thousand dollars are subscribed to the capital stock of the said corporation, the persons holding the same shall be and they hereby are incorporated into a company, and the commissioners shall give like notice for a meeting of the stockholders to choose not less than seven directors, a majority of whom shall be residents and citizens of this state; and such election shall be made at the time ard place appointed by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy, each share of the capital stock entitling the holder thereof to one vote; and the above named commissioners, or a majority of them, shall be inspectors of the first election of directors of the said corporation, and shall certify under their hands the names of those persons duly elected, and deliver over the subscription books and moneys paid in to the said directors, deducting a reasonable compensation for their services; and the time and place of holding the first meeting of directors shall be fixed by the said commissioners, or a majority of them.

4. And be it enacted, That the directors chosen at such a meeting, and at the annual elections of said corporation, shall, as soon as may be after every election, choose out of their number a president who shall hold office until after the next succeeding election and until another shall be appointed; and they shall have power to fill any vacancy which at any time may exist in the board, by death or otherwise, until the next succeeding annual election.

5. And be it enacted, That the annual election for direc. tors shall be held at such times and places as the board of directors shall hereafter direct, of which election public notice as above mentioned shall be given, and such election shall be made as herein before directed; and in case it shall happen that an election of the board of directors shall not be made when it ought to be made the said corporation shall not for that cause be deemed to be dissolved, but the said election shall be held as soon thereafter as possible, and public notice shall be given as before directed; five directors shall be a

installments.

quorum to transact all business of the said corporation, and Payment of the directors shall be authorized to call in the remaining capital stock of said company by such installments and at such times as they may direct; provided, that such payment Proviso. shall not exceed twenty dollars on each share per month, and in case of the non payment of the said installments or any one of them they shall have power to forfeit such share or shares upon which said default shall arise, to and for the use of said corporation, and also to make and prescribe such bylaws and regulations as to them shall appear needful and proper, touching the management and regulation of the stock, property, estate and effects of said corporation and also to appoint such officers, clerks and servants as to them shall seem meet, and to establish and affix such salaries to them and also to the president as to the said directors shall appear proper.

and construct

6. And be it enacted, That the president and directors of May lay out the said corporation, be, and the same are hereby authorized railroad. and invested with all the rights and powers necessary and expedient to survey, lay out and construct a railroad from some suitable point at or near Medford, in the county of Burlington, to the village of Tuckerton, in said county, passing en route through or near the village of Atsion, the said road not to exceed one hundred feet in width with as many sets of tracks and rails as they may deem necessary; and it shall be lawful for said president and directors, their agents, superintendents, engineers and others in their employ, to enter at all times, upon all lands and waters, for the purpose of exploring, surveying, leveling, or laying out the route of such railroad, and of locating the same, and to do and erect all. necessary works, buildings and appendages thereof, doing no unnecessary damage to private or other property, and when the route of said road shall have been determined on and a survey of such route deposited in the office of the secretary of state, then it shall be lawful for said company by its officers, agents, engineers, superintendents, contractors, workmen and other persons in their employ, to enter upon, take possession of, hold, have, use and occupy any such lands, and to erect embankments, bridges, piers and all other work necessary to lay rails, and do all other things that shall be suitable or necessary for the construction, completion and repair of the said road, subject to such compensation as is hereinafter provided; provided always, that the payment, or Proviso.