Commission subscriptions between some suitable point at or near Dea's Point, on the Hudson River, in Weehawken township, Hudson county, state of New Jersey, and some suitable point or points in the city of New York; with power to build boats, wharves, piers, bulk-heads, and all other improvements necessary to carry out the objects of this corporation; and they and their suc cessors and assigns, in their corporate name, shall be and are hereby empowered to have, purchase, receive, lease, hold and enjoy all such real and personal estate and property as may be necessary and useful for the purposes of said ferry, and the same to grant, demise, alien, pledge, convey and dispose of, and to have and enjoy, and exercise all the rights, powers and privileges pertaining to corporate bodies, for the purposes of this act; and at any time during the continuance of its charter, the said corporation shall be empowered to make contracts and engagements with any other corporation, or with individuals for transporting or carrying any kind of goods, produce, merchandise, freight or passengers, and to enforce the fulfilment of such contract. 2. And be it enacted, That the above named persons, or a ers to receive majority of them, shall be commissioners to open books to receive subscriptions to the capital stock of said corporation, at such time or times, and at such place or places as they or a majority of them may think proper, by giving ten days previous notice, in two newspapers published and circulated in Hudson county. Directors, &c. 3. And be it enacted, That the affairs of said company how chosen, shall be managed and directed by a board of five directors, one of whom shall be president, being stockholders, who shall hold their office for one year, and until others are elected in their stead; the first directors shall be elected at a meeting of the stockholders, to be called for that purpose by the commissioners, or a majority of them, on like notice as above; and the directors chosen at such meeting, or at the annual election of said corporation, shall, as soon as may be after every election, choose out of their own number a president: and after the first election, the directors shall be elected annually by the stockholders, on like notice; every stockholder shall be entitled to one vote for each share of stock held by him, and may vote in person or by proxy. General pow ers. 4. And be it enacted, That the president and directors shall have power to make and establish such laws, rules and regulations for the management and disposition of the affairs and property of the company, as may be deemed meet and necessary for the purposes of this act, not inconsistent with the laws and constitution of this state or of the United States, and the same to alter and repeal; they shall have power to appoint such officers and agents as they may think proper, and to remove them at pleasure, and also to fill any vacancy which may occur among the said president and directors, by death, resignation or otherwise, and to have and use a common seal, and to alter and change the same at pleasure. capital stock. 5. And be it enacted, That the capital stock of said com- Amount of pany shall be two hundred thousand dollars, with the privilege of increasing the same to five hundred thousand dollars, to be divided into shares of one hundred dollars each; that the sum of ten dollars shall be paid on each share at the time of subscribing, and the remainder in monthly installments of ten dollars, until the whole be paid; and it shall be lawful for the said company to grant certificates of stock in full, or in part payment, for the real or personal estate that may be purchased or leased by them; and the said company may commence operations as soon as fifty thousand dollars is subscribed; and thereafter the said president and directors may receive subscriptions for such part of the balance of said capital stock as they may deem necessary; and may ask and demand from the subscribers payment for the same, in monthly installments, as aforesaid, upon the penalty of forfeiting the shares and all previous payments made thereon. 6. And be it enacted, That the capital stock of said com- Stock transpany shall be deemed personal estate, and shall be transfera-ferable. ble in such manner as the by-laws of the said company shall direct. by failure to 7. And be it enacted, That in case an election of presi- Not dissolved dent or directors shall not be made at the time when, pursu-elect directors ant to this act, it ought to be made, the said company shall not in that case be deemed to be dissolved, but it shall be lawful to make such election at such time as may be provided by the by-laws of the company. ment. 8. And be it enacted, That the said president and direc- Annual statetors shall at the annual meeting of the stockholders make out and exhibit a full and true account of the operations and of the affairs of the company, and from time to time make a dividend of the profits arising therefrom. 9. And be it enacted, That said company shall be entitled to ask and receive such reasonable rates of toll for transpor tation over said ferry as by the by-laws of said company may be established, such tolls not to exceed the following: Rates of toll. For each passenger, Penalty for perty. For each one horse wagon and driver, For each horse or mule, For sheep, lambs and swine, For all other kinds of merchandise, five cents; twenty cents; twenty-five cents; ten cents; five cents; five cents; three cents; five cents per hundred pounds. 10. And be it enacted, That if any person or persons injury to pro- shall wilfully injure, impair, destroy or obstruct the wharves, slips, bridges, piers, boats, buildings, fences, gates, or any other of the works, engines or machines of said company, such person or persons so offending shall forfeit and pay to the said company any sum not exceeding one hundred dollars, at the discretion of the court or jury, to be recovered before any justice of the peace in this state, and shall also be liable, in addition to the above penalty, to double the amount of damages sustained thereby, to be recovered in an action of trespass, or other proper form of action, in any court of competent jurisdiction. Limitation. 11. And be it enacted, That this act shall continue in force for thirty years, and that unless said company within five years from the passage of this act shall have established a ferry, this act shall be void. 12. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCCLIV. A Supplement to "An Act to incorporate the Irvington and South Orange Horse Railroad Company," approved March thirty-first, eighteen hundred and sixty-nine. 1. BE IT ENACTED by the Senate and General Assembly of Amendment. the State of New Jersey, That so much of the act incorporating the Irvington and South Orange Horse Railroad Company, of which this is a supplement, be so amended as to authorize and empower said company to operate their road with dummy engines or steam power. 2. And be it enacted, That all acts and parts of acts to Repealer. which this is a supplement, and which conflict or are inconsistent therewith, be, and the same are hereby repealed, and this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCCLV. A Further Supplement to "An Act to make taxes a lien on real estate, and to authorize sales for the payment of the same," approved March seventeenth, eighteen hundred and fifty-four. within which taxes may be 1. BE IT ENACTED by the Senate and General Assembly of Term of years the State of New Jersey, That in all cases of sale hereafter lands sold for made of any lands, tenements, hereditaments and real es- redeemed. tate, situated in the township of Mullica, in the county of Atlantic, in this state, in pursuance of the act to which this is a supplement, and the supplement to said act, approved Repealer. March twenty-fifth, eighteen hundred and sixty-three, the said lands, tenements, hereditaments or real estate so sold, shall be sold, not for a term of years, but absolutely forever, in fee simple, but may be redeemed by the owner or owners, or by any other person for and on behalf of the owner or owners of such lands, tenements, hereditaments or real estate, at any time within three years after the time of such sale, by paying to the purchaser thereof, or his or her legal representative, the amount paid therefor by such purchaser, together with any other sum or sums paid for taxes or assessments which the said purchaser may have paid, chargeable on said lands, tenements, hereditaments or real estate, and which he or she is hereby authorized to do, with interest thereon, at the rate of twelve per centum per annum in addition thereto; and upon such payment being made to such purchaser, or his or her legal representative, he, she or they, shall re-convey and restore to the owner or owners, such lands, tenements, hereditaments and real estate, and on failure of such redemption money being paid within the time above limited for such redemption, the right of redemption shall cease, and such sale shall vest in said purchaser an absolute and fee simple title. 2. And be it enacted, That all acts and parts of acts inconsistent with this act, be, and the same are hereby repealed, so far as they apply to the township of Mullica. 3. And be it enacted, That this act shall be deemed a public act and take effect immediately. Approved March 17, 1870. |