When company may report be unfavorable to the said road, the said judge shall immediately, under his hand and seal, order the keeper of the gates or turnpikes to keep the same open, until otherwise ordered; and if the said keeper shall, notwithstanding the order of the said judge, refuse to open the said gate or turnpike, and exact toll of travellers, he shall, for each offence, forfeit and pay the sum of twenty dollars, to be sued for by any person who will prosecute for the same in an action of debt, with costs of suit, and the judge shall be allowed for his services fifty cents, and the persons appointed one dollar, each, to be paid by the company; and it shall be the duty of the persons so appointed, or a majority of them, on application from the said company, again to view the said road or bridge, and report as aforesaid to the said judge, who shall, if authorized by the report of the said persons, or any two of them, by license, under his hand. and seal, directed to the toll-gatherer, permit the gates or turnpikes to be shut, and the toll to be collected as before, and the said fees shall be allowed and paid as before directed; but if, on the first view, as before mentioned, the report of the persons appointed, or a majority of them, shall be in favor of the company, the same fees shall be allowed as before prescribed, and paid by the person or persons making the complaint. 19. And be it enacted, That whenever the said company erect gates. shall have completed any two consecutive miles of the said road, according to the directions and true intent and meaning of this act, it shall be lawful for the said company to erect a tollgate across said road, and demand and receive. toll for travelling thereon, agreeably to the foregoing rules. Company may use 20. And be it enacted, That the said corporation may use public road. any portions of the public roads on the route above named, by and with the consent of three-fourths of all the landholders along or on the route of said road; and if the owners of such lands shall refuse their consent, then and in that case such road or roads shall be first vacated according to law. commenced years. 21. And be it enacted, That if the said road be not com- Road to be menced within three years, and completed within six years within three from the passage of this act, that then and in that case this act shall be void; and the said corporation shall possess the several powers, and be subject to the restrictions and liabilities contained in the act entitled "An act concerning corporations." Approved March 16, 1858. CHAPTER CL. AN ACT to incorporate the Burlington and Beverly Turnpike Company. sioners to scriptions. 1. BE IT ENACTED by the Senate and General Assembly of Commis the State of New Jersey, That the subscription books of the receive subcapital stock of the Burlington and Beverly Turnpike Company shall be opened by Paul Farnum, Benjamin A. Farnham, Andrew Manderson, Charles Marter, and William Heisler, or a majority of them, who are hereby appointed commissioners to receive subscriptions to the said stock, at such times and places as they, or a majority of them, may direct, giving notice thereof, at least twenty days prior to the opening of said books, by publishing the same in at least two of the newspapers published in the county of Burlington. capital 2. And be it enacted, That the capital stock of said com- Amount of pany shall be three thousand dollars, with liberty for the stock. said company to increase the same to five thousand dol Payment of instalments. Proviso. Proviso. Act void if shares are not sub lars, and shall be divided into shares of twenty-five dollars each, and that when one hundred shares shall be subscribed for, the persons holding the same shall be, and they are hereby incorporated into a company, by the name of "the Burlington and Beverly Turnpike Company," and by that name shall have, enjoy, and exercise all the rights, powers, and privileges appertaining to corporate bodies and necessary to carry the objects of this act into effect. 3. And be it enacted, That at the time of subscribing for said stock, five dollars shall be paid upon each share subscribed for, to the commissioners, or any of them, which money shall be paid over to the treasurer of the company, as soon as one shall be appointed, and the residue of the subscriptions shall be paid in instalments, at such times and places, and to such persons as the president and directors of the company shall, from time to time, direct, and give public notice thereof, in manner aforesaid; and upon failure of the payment thereof, as so directed, the said president and directors shall have power to forfeit the shares of each and every person so failing to pay the said instalments, or any of them, to and for the use of the said company; provided, that if the number of shares subscribed for shall exceed the number of shares authorized by this act, that the said commissioners shall apportion the said stock among such subscribers, in proportion to the amount or number of shares by them subscribed for, as aforesaid; provided also, that no subscription for less than six shares of said stock shall be reduced by such apportionments. 4. And be it enacted, That if the number of shares hereinbefore made necessary for the incorporation of the said in two years. company, be not subscribed for within two years from the scribed for time of opening of the said subscription books, this act, and all the subscriptions under it, shall be null and void, and the said commissioners, after deducting thereout the expenses incurred, shall refund the residue of the money paid in to the respective subscribers, or their representatives, in proportion to the sum paid in by them. directors. 5. And be it enacted, That when one hundred shares of Election of said stock shall be subscribed for, the said commissioners shall call a meeting of the stockholders, giving at least twenty days' notice of the time and place of such meeting as herein before directed, with regard to the opening of the said books, at which meeting the subscription books shall be laid before the stockholders, who shall thereupon proceed to elect, by ballot, five directors, a majority of whom shall be citizens of this state, to manage the affairs of said company for one year, of which election the said commissioners, or a majority of them, shall be the judges, and at the expiration of that term, and annually thereafter, upon like notice to be given by the directors for the time being, the said stockholders shall elect, by ballot, the same number of directors, a majority of whom shall be citizens of this state, as aforesaid; and at every such election, and in all other cases, in which the stockholders shall be entitled to a vote, a vote may be given for each share by the holder or holders thereof, either by person or by proxy; provided, nevertheless, Proviso. that no stockholder shall have more than twenty votes, although he or she may have a greater number of shares. president. 6. And be it enacted, That within twenty days after the Election of annual election as aforesaid, the said directors shall elect from their number a president, of their said company, who shall be a citizen of this state, and resident in the county of Burlington, who shall hold his office for one year and until another shall be elected, and receive such compensation for his services as a majority of the said directors shall direct; and shall be the presiding officer at all meetings of said directors, and shall have the casting vote when they shall be equally divided; he shall have charge of the seal of said company, and shall appoint the judge or judges of all elections of the stockholders, or in case of his death, absence, or inability so to do, the said directors shall ap point some other suitable person, who, for the time being, shall possess the same power and authority, and perform all the duties herein prescribed. Duties and powers of directors. Proviso. Annual statement to be made. Special meetings ed. 7. And be it enacted, That the said directors, or a majority of them, may supply any vacancy occurring in the interval between annual elections, by death, resignation, removal, or refusal to act, of any president or director; and may ap point a treasurer, who shall be a citizen of this state, and resident of the county of Burlington, and all officers, agents, superintendents, and other servants, that may be required to transact the business of the company, with such compensation as they may determine upon, and may exact from them such security for the due performance of their respective trusts as they may think expedient; they shall regulate the tolls and have the superintendence and direction of all receipts and disbursements, and all other affairs. of the company; and may make and enforce such ordinances and by-laws as they think expedient for regulating the transfer of the stock, and for the general government of the company, and management of its officers; provided, the same are not repugnant to the constitution or laws of this state or of the United States. 8. And be it enacted, That at the annual meeting of the stockholders, it shall be the duty of the president and directors of the preceding year to exhibit to the stockholders, a full and complete statement of the affairs of the company during the said term. 9. And be it enacted, That special meetings of the stockmay be call- holders may be called by the order of the said president and directors, or by the stockholders holding one-fourth of the whole stock of the company, by giving notice of the time and place of holding the same, as herein before directed with regard to the annual meeting, which said notice shall specify the object of the meeting, but that no business of the company shall be transacted at such special meetings, unless a majority in value of the stockholders attend and concur therein, who may require the books, accounts, and other papers and proceedings of the company to be exhi bited to them by the president and directors. Charter not void for fail 10. And be it enacted, That if, from any cause, any election ure to elect herein before named shall not be had at the time specified on day pre scribed. |