Pension. CHAPTER CCCXX. An Act for the relief of Andrew Bay, of the County of Morris. 1 BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the treasurer of this state be and is hereby authorized and required to pay to Andrew Bay, of the county of Morris, who was a soldier in the war of eighteen hundred and twelve, or to his order, the sum of one hundred dollars per annum during the term of his natural life, in equal semi-annual payments of fifty dollars each, the first payment to be made upon the first day of June, eighteen hundred and seventy. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. Time extend ed CHAPTER CCCXXI. A Supplement to "An Act to incorporate the Sussex Valley Railroad Company," approved March fourteenth, eighteen hundred and sixty-seven. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the time limited, in the act to which this is a supplement, for the commencement of said road, shall be extended to five years, from the approval of said act, and the time limited for the completion of any one of the divisions thereof to five years thereafter. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCXXII. An Act to incorporate the United States Railroad Employees 1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That James W. Woodruff, John S. porators. Hutchinson, R. E Tripp, Peter H. Mann, W. A. Jenks, John A. Conover, Samuel P. Davenport, and all other persons that may be hereafter associated with them, and having for their object mutual protection and benefit in case of death, be and they are hereby constituted and made a body politic and corporate, with power to make and establish such bylaws, rules and regulations as they may deem expedient, for the management of the concerns of said corporation, and to alter, annul and repeal the same at pleasure; provided Proviso. always, that such by-laws, rules and regulations, be not inconsistent with the laws of this state, or of the United States. 2. And be it enacted, That it shall be lawful for the com- General powpany to have, hold, purchase, receive, possess and enjoy to ers. themselves and their successors real and personal property of every kind, to an amount not exceeding twenty thousand dollars and the same, or any part thereof may sell, grant or alien, may sue and be sued, implead and be impleaded in all courts whatsoever, and may do and execute all acts and things to them appertaining in their said corporate capacity, the company may issue policies or certificates of membership, each of which policies or certificates shall state on its face the agreement with the member receiving the same, and when signed by the president and countersigned by the secretary, shall be binding on the company, and the company shall forward, within sixty days after satisfactory proof of death, the amount as stated in said certificate or policy, a post-office money order for the amount of any assessment, lawfully registered in any post-office, and forwarded to the company within forty days from the date of the notice of the same shall be recognized as payment of said assessment. 3. And be it enacted, That for the well ordering and gov Directors, how chosen, &c. Powers and duties of the directors. Directors to receive subscriptions to guarantee fund. erning of the affairs of said company, there shall be chosen annually, at such time and in such manner as the by-laws of the company shall prescribe, not less than three nor more than nine directors, who shall continue in office until their successors are appointed, and no meeting of the company shall be legal unless notice is given at least two weeks previous in two newspapers published in the county of Hudson, New Jersey. 4. And be it enacted, That the directors shall choose a president and vice-president of the corporation and they shall also appoint a secretary for said company and may appoint such other officers, clerks and agents and establish such agencies and fix such compensation as they may deem advisable, and they shall have power to make such covenants and agreements, perform such acts, and exercise such powers as they shall deem expedient, subject to the authority, provisions and limitations of the charter, constitution and by laws of said corporation, to declare dividends out of the surplus earnings of the company whenever they may deem it advisable; the president and vice president may hold their offices for one year and until others are chosen, but the officers, agents and servants of the company may be displaced and others appointed in their places by the directors; in the absence or disability of the president the vice-president may exercise the duties of the president, and if both are disabled the directors may choose a president, pro tempore, and the directors for the time being shall have power by the vote of the majority, to fill any vacancy which may occur in their board by death or resignation or otherwise, by choosing a director or directors from among the members of said corporation, who shall continue in office until a successor or successors shall otherwise be chosen. 5. And be it enacted, That the directors of the company are hereby authorized and empowered to receive subscriptions to a guarantee fund for said corporation for an amount not exceeding twenty thousand dollars, which shall be transferable on the books of the company and said subscribers to said fund shall pay on subscribing thereto at least ten per centum on the amount subscribed and the directors may make further assessments until the amount so subscribed shall be paid or secured to be paid, to the satifaction of said board of directors, and whenever such fund shall be liable for the payment of losses, according to the rules of the company, the amounts shall be assessed pro rata to the amount of the fund on each of the subscribers to said fund. retire portion fund. 6. And be it enacted, That whenever all assessments shall Directors may have been returned to the subscribers of the guarantee fund of guarantee and the receipts of the company shall exceed the expenses to an amount equal to the amount of the guarantee fund, then the directors at their option may retire or return all or such portion of the guarantee fund to the subscribers, as the interests of the company may seem to them to require. allowed to 7. And be it enacted That the subscribers to said guar- Per centum antee fund shall be entitled to receive from the fund of the subscribers. company three per centum, semi-annually, for all money actually advanced by them to the company, for the use and liability of said fund so actually paid in. ment. 8. And be it enacted, That in all elections for directors Annual stateand in all questions which shall arise at the annual meetings, each member of the company and each subscriber to the guarantee fund shall be entitled to vote and take part in the meeting, and each shall be eligible to the office of a director, and the directors shall make a statement of the affairs of the company at each annual meeting. against acci 9. And be it enacted, That it shall be lawful for this com- May insure pany to insure against accident in traveling or otherwise, dents. and carry on the same as a separate department. 10. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCXXIII. Supplement to "An Act to incorporate the Linden School House Association." stock to have 1. BE IT ENACTED by the Senate and General Assembly of Each share of the State of New Jersey, That each share of the capital one vote. stock of the said school house association shall be entitled to one vote in the election for officers. Notice of elec. tion to be given. 2. And be it enacted, That the annual election for officers of the said school house association shall be held at the said school house, on the first Monday in May of each year, at eight o'clock in the afternoon, and it shall be the duty of the secretary to give notice, in writing, to each of the stockholders, of said election, at least five days preceding such election. 3. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. Pension. CHAPTER CCCXXIV. An Act for the relief of Daniel Applegate, of the county of Monmouth. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the treasurer of this state, be and is hereby authorized and required to pay to Daniel Applegate, of the county of Monmouth, who was a soldier in the war of eighteen hundred and twelve, or to his order the sum of one hundred dollars per annum, during the term of his natural life, in equal semi-annual payments of fifty dollars each, the first payment to be made upon the first day of June, eighteen hundred and seventy. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. |