Tax to be raised for spe

under said act and its various supplements; and they shall receive and collect all unpaid assessments on property assessed by said commissioners; and the mayor and council of Hoboken may sue any of said commissioners and recover from them any sums of money illegally taken by them for fees or compensation for their services as commissioners; and the said council from the money received from the payments of assessments and otherwise shall pay all the outstanding unpaid improvement certificates issued by said commissioners for work done by contractors, and also interest thereon from the date of said certificates at the rate of seven per centum per annum, and to pay such other legal indebtedness as may have been incurred by said commissioners; and said council shall have power to cancel all liens and assessments upon property imposed by said commissioners upon payment to said council or the city clerk of the said assessments on the said property.

15. And be it enacted, That the mayor and council of the cial purposes. city of Hoboken shall have power to raise by tax upon all the real and personal property in the city of Hobobon e sum of money not exceeding twenty thousand dollars, to pay the claim of Charles Devlin against the city of Hoboken, for construction of main sewer in Third street in said city, and said sum shall be inserted in the general tax ordinance of said city for the year eighteen hundred and seventy.

Repealer.

16. And be it enacted, That all acts and parts of acts inconsistent with this act, be and the same are hereby repealed, and that this act shall be deemed a public act and shall take effect immediately.

Approved March 17, 1870.

CHAPTER CCCCLXXXV.

An Act to incorporate the New Jersey Construction Company.

porators.

1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Columbus B. Guthrie, Joseph C. Potts, Robert M. Henning, William F. Drake and Robert F. Wilson, and their associates and successors be, and they are hereby incorporated a body politic and corporate in fact and in law, by the name of the " New Jersey Construction Corporate Company," and as such they shall have perpetual succession, and may sue and be sued, plead and be impleaded, and may have a common seal, which they may alter at their pleasure.

mame.

2. And be it enacted, That the said corporators may at Amount of such time and place as a majority may agree upon, giving expital stock. public notice for at least thirty days in two newspapers published in Jersey City, open books of subscription to the capital stock of said company and may keep the same open until fifty thousand dollars shall be subscribed, which shall be divided into five hundred shares of one hundred dollars each, and as soon as the same is subscribed and five per centum thereon paid in, the said corporators shall proceed to organize said company by giving a notice in writing to each of the stockholders of the time and place at which an election will be held for directors of the company, which notice shall be served at least ten days prior to said election.

3. And be it enacted, That the said company shall be Directors. managed by five directors, a president, treasurer and secretary, and such other officers as the said board may appoint, and said board inay make such by-laws for the government of the company as they may deem best, not inconsistent with the laws of the United States or of this state.

fice.

4. And be it enacted, That the said corporation shall have Principal of power to contract, to build, construct, excavate, erect or equip any public or private work of whatever character or description, and to that end may employ agents, superintendents, engineers, draughtsmen, mechanics, laborers and servants, and may purchase all materials necessary for their purposes; the principal office of said corporation 'shall be at Jer

hold real es

tate..

sey City, but they may have such subordinate offices as the
directors may see fit at other places.

May have and 5. And be it enacted, That said corporation may purchase
and hold such real estate as may be necessary for their pur-
poses, and the same may mortgage or sell at their discretion,
and may increase their capital stock from time to time as
their business may require; provided, however, that the writ-
ten consent of three-fourths in value of the stockholders,
shall be first had and obtained before any such increase shall
be made.

Proviso.

6. And be it enacted, That this act shall take effect immediately after the passage thereof.

Approved March 17, 1870.

Repeater.

CHAPTER CCCCLXXXVI.

An Act to repeal the act entitled "An Act to incorporate the
Burlington and Columbus Turnpike Company," approved April
second, eighteen hundred and sixty-nine.

1. BB IT ENACTED by the Senate and General Assembly of
the State of New Jersey, That the act entitled "An Act to
incorporate The Burlington and Columbus Turnpike Com-
pany," approved April second, eighteen hundred and sixty-
nine, be, and the same is hereby repealed.

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

!

CHAPTER CCCCLXXXVII.

An Act to incorporate the Park Street Opera House Association, of the City of Bordentown.

1. BE IT ENACTED by the Senate and General Assembly of Names of eorthe State of New Jersey, That Leo H. Delange, Frederick porators J. Weise, Moses R. Wolf, James C. Parker, and their associates and all other persons, who shall become subscribers and owners of the capital stock, hereby created shall be, and they and their successors are, hereby made and declared to be a corporation and body politic in fact and in law, by the name of "The Park Street Opera House Association, of the City Corporate of Bordentown," and by that name shall have power to lease powers. or purchase, and hold real estate in the city of Bordentown, in the county of Burlington, and state of New Jersey, and to erect thereon a hall and other improvements for the use of societies, lyceums, public meetings, concerts, exhibitions, and for other public uses, subject to the by-laws and regulations of said corporation.

name and

2. And be it enacted, That the said corporation shall have Amount of power to raise by subscription, a capital stock of six thousand capital stock. dollars, with the liberty to increase the same hereafter, whenever a majority of the directors of the said corporation shall

so determine to any sun not exceeding twelve thousand dollars.

3. And be it enacted, That the capital stock of said cor- Stock transporation shall be divided into shares of ten dollars each, and ferable. shall be transferred in such manner as the by-laws of said corporation shall direct, and each share of the capital stock shall entitle the bona fide holder thereof to one vote at all the meetings of the stockholders.

ers to receive

4. And be it enacted, That the said Leo H. Delange, CommissionFrederick J. Weise, Moses R. Wolf and James C. Parker, subscriptions. shall be and are hereby appointed commissioners to open the books and receive subscriptions of the stock in said corporation, and shall meet for that purpose in the city of Bordentown, after giving due notice of the time and place of such meeting, and the said Leo H. Delange, Frederick J. Weise, First directors

Directors to be stockholders.

Capital not to be withdrawn.

Debts not to exceed capital

Annual statement.

Moses R. Wolf and James C. Parker, shall be and are hereby appointed the first board of directors for said corporation, to hold their office for one year from the time of organizing the same, and until others shall be elected by the stockholders to fill their places.

5. And be it enacted, That the said directors shall be elected from among the stockholders, in such manner as the by-laws of said corporation shall direct, and shall not be less than five in number, and shall, with all other officers of said corporation, hold their offices until others are elected and duly qualified in their stead.

6. And be it enacted, That no part of said capital stock at any time, or in any manner or under any pretense whatever shall be withdrawn from the legitimate business of said corporation or refunded to the stockholders until all debts and liabilities of the said corporation are duly paid.

7. And be it enacted, That the whole amount of debts which the said corporation shall owe at any one time shall not exceed the capital stock subscribed for and paid in.

8 And be it enacted, That annually in the month of May, the directors shali submit to the stockholders of said corporation a written statement of the capital stock paid in, the amount of all debts existing against said corporation, specifying to whom such debts are due, and the receipts and credits of said corporation, and no dividends shall be paid to the stockholders, except only from and out of the surplus profits arising from the business of the corporation.

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

Approved March 17, 1870.