Repealer. this is a supplement, as is inconsistent with the provisions of this act, be, and the same is hereby repealed. 13. And be it enacted, That it shall be lawful for the legislature, at any time hereafter, to amend, modify or repeal this act. 14. And be it enacted, That this act shall take effect immediately. Approved March 1, 1870. Names of corporaters. Corporate ject. CHAPTER CXXXV. An Act to incorporate the Morris County Machine and Iron Company, at Dover, New Jersey. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That George Richards, Henry McFarlan, Columbus Beach, Edmund Canfield, Edward N. Kirk Talcott, James H. Simpson, Henry Baker, and their associates, successors and assigns, are hereby created a body corporate and politic, by the name of The Morris County name and ob- Machine and Iron Company," for the conducting of a general foundry and machine business, mining and smelting iron and other ores, and for the purchase, manufacture and sale of iron and other metals, with power to lease, purchase and hold such mines and mining rights, real and personal property, as may be considered necessary for the due prosecution of its business, and to sell, lease or mortgage the same, or any portion thereof; and by that name they and their successors shall have all the powers which by the laws of this state are now incident and belonging to corporations. Amount of capital stock. 2. And be it enacted, That the capital stock of this company shall be one hundred thousand dollars, with power to increase the same by a vote of a majority of the stock to five hundred thousand dollars, divided into shares of one hundred dollars each, which shares shall be deemed personal property, and shall be transferable in such manner as shall be prescribed in the by-laws of said corporation; and the said com pany is authorized to commence business when twenty thousand dollars of its capital stock shall have been subscribed and paid in; and no dividend shall be made to the stockholders except from the profits of said company. 3. And be it enacted, That the property and affairs of this Management. company shall be managed and conducted by a board consisting of seven directors, being stockholders, and that George Richards, Henry McFarlan, Columbus Beach, Edmund Canfield, Edward N. Kirk Talcott, James H. Simpson and Henry Baker shall be the first directors to organize and manage the affairs of the said company, and shall continue in office until others are elected or appointed in their stead. tors. 4. And be it enacted, That the annual election of directors Annual elecshall take place on the second Thursday in January in each tion of direcyear, after eighteen hundred and seventy, at such hour and place as shall be directed by the by-laws of said corporation, and two weeks previous notice of such election shall be given in a newspaper published in Morris county, and all elections for directors shall be by ballot, and each share of stock shall be entitled to one vote, and the votes may be by person or by proxy; the persons having the greatest number of votes, being stockholders, shall be directors for the ensuing year; and any vacancy or vacancies occurring by death, resignation or otherwise, shall be filled in the manner prescribed by the by-laws of said company, and if from any cause, an elec- Not dissolved tion for directors should not take place on the day for the an-elect directors nual election, it shall not therefore work a forfeiture of this charter, but a new election shall be ordered in conformity with the by-laws of said company, and the directors shall hold over until others are elected in their places. by failure to stock on pain 5. And be it enacted, That the board of directors shall Power to dehave power to demand from the subscribers to the capital mand capital stock of said corporation, the money for such subscriptions, of forfeiture. and for any subscriptions to the increase of its capital, or any assessment thereon, and in case of the failure to pay such subscriptions, or such calls or assessments as they may appoint, the said board may, after four weeks notice in a newspaper published in Morris county, declare the said stock, and all previous payments thereon, forfeited to the corporation, and such stock, and all previous payments thereon and all right to the same, shall thereby be forfeited and belong to the said corporation. May make bylaws, &c. Proviso. How dissolved 6. And be it enacted, That the board of directors shall adopt by-laws declaring the number of directors necessary to form a quorum for the transaction of business, the officers of the company and their duties, and such other matters as are prescribed in this act, and shall have authority to enact such. rules and regulations as they may deem necessary for the management of the affairs of this company and the business. of the board of directors, and shall have power from time to time to alter the said by-laws; provided, that the same, as adopted, shall not be contrary to the constitution of the United States, or the laws of this state. 7. And be it enacted, That the number of directors may, at any time, be increased or diminished, or the capital stock be diminished, or this corporation be dissolved by a vote of three-fourths of the stock represented in such voting at a meeting called for that purpose by a notice served personally or by mail upon each stockholder at least four weeks previous thereto, and published once a week for four successive weeks in a newspaper printed in Morris county; upon such dissolution the directors, or such persons as the stockholders may appoint, and their survivors and successors shall be trustees, and as such, shall have full power to realize, sell, convey and collect the assets of said corporation, real and personal, and pay its debts and divide the surplus among its stockholders, pro rata. 8. And be it enacted, That this act shall be deemed a public act, and shall at all times be recognized and taken as such in all courts and places whatsoever, and shall take effect immediately. Approved March 1, 1870. Names of cor porators. CHAPTER CXXXVII. An Act to incorporate the Gesangverein Eintracht. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Charles Schutz, Adolph Schalk, Frederick Reynolds, Charles Stollberg, Charles A. Grossmann, Peter Nenninger, Henry Sauerbier, Julius Stapff, Frederick J. D. Rumpf, John W. Lieb, Leopold Graf, Edward Balbach, junior, Rudolph L. Sander, Louis Adam, Hermann Schwab, Henry Stengel, Albert Metz, Jacob Schmidt, Louis Kirchner, Max Sommer, John Baier, Tobias Wiedenmeyer, Peter Bender, John A. Boppe, John P. Huber, John Zais, Herman Kreitler, Joseph Hensler, Jacob Stucky, Herman Graf, their associates and successors, shall be, and they are hereby constituted a body politic and corporate, in fact and in name, by the name of "The Gesangvercin Corporate Eintracht," to be located in the city of Newark, having for name. its objects the promotion of artistic taste in general, and of vocal music in particular, by the practice and performance of sacred and secular music, and by the establishment of a school for gratuitous instruction in singing and music, with power to take by purchase, devise, or otherwise and to hold, transfer, mortgage and convey such real and personal estate as shall be necessary or useful for the purposes of the corporation, not exceeding the amount of one hundred thousand dollars. rules, &c. 2. And be it enacted, That the said corporation shall have May prescribe power to prescribe rules and orders for its general government, for the admission and expulsion of members, for the election, term of service, number and duties of its officers and for the direction and management of its affairs. 3. And be it enacted, That said corporation may for the May issue purpose of purchasing or erecting the necessary buildings, money issue shares in amounts not less than twenty-five dollars, each, redeemable in twenty years or sooner, and bearing no higher interest than at the rate of seven per cent. per annum; said shares may be secured by mortgage or otherwise at the option of the corporation. shares to raise trustees. 4. And be it enacted, That the control and disposal of the Powers of funds, property and estate of the said corporation shall be vested in a board of not less than fifteen nor more than thirty trustees, of which board the president, the vice-president, the secretary and the financial secretary shall be members, all of whom shall be elected annually at the time and in the manner provided for by the laws of the said corporation, and shall hold office until their successors shall be elected; no trustee shall receive a compensation for his services. 5. And be it enacted, That the said Charles Schutz, Adolph First trustees. Restrictions and liabilities. Schalk, Frederick Reynolds, Charles Stollberg, Charles A. 6. And be it enacted, That this corporation shall possess the general powers and be subject to the restrictions contained in the act entitled "An Act concerning corporations," approved the fourteenth day of February, eighteen hundred and forty-six, so far as the same are applicable. 7. And be it enacted, That nothing in this act shall be so construed as to conflict with the laws of the United States or of this state. 8. And be it enacted, That this act shall take effect immediately. Approved March 1, 1870. Repealer. CHAPTER CXXXVIII. An act to repeal" An Act to incorporate the Union Meadow Company, of Upper Raccoon Creek, in the county of Gloucester," approved April second, eighteen hundred and sixty-nine. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the act entitled "An Act to incorporate the Union Meadow Company, of Upper Raccoon Creek, in the county of Gloucester," approved April second, eighteen hundred and sixty-nine, be and the same is hereby repealed. 2. And be it enacted, That this act shall take effect immediately. Approved March 1, 1870. |