times and places as the by-laws may ordain; and special meetings may be held by appointment of the board, or upon the call of the president. dividends to 6. And be it enacted, That the dividends of so much of Semi-annual the profits of the corporation, as shall appear advisable to be made. the board of directors shall be made and paid to the stockholders, semi-annually, at such stated periods as the said board shall determine; and at each annual meeting of the stockholders for the purpose of election, 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 corporation, during the past year, and shall produce the books, accounts, and papers of the corporation, if required to do so by any person or persons, being stockholders. 7. And be it enacted, That this act shall continue in force Limitation. for twenty years, and the legislature reserves the right, at any time, to alter, amend, or repeal the same. Approved March 18, 1858. CHAPTER CLXIX. AN ACT to incorporate the Native American Association of the city of Camden. corporators. 1. BE IT ENACTED by the Senate and General Assembly of Names of the State of New Jersey, That Samuel Scull, Samuel M. Thorn, Edmund Brewer, John H. Jones, Joseph Myers, William I. Miller, S. Reilly Barrett, Reynell Coates, Mark General powers. Amount of capital stock. Stock transferable. When corpo ration may commence business. B. Wills, John R. Thompson, John K. Roberts, Samuel H. Morton, Charles M. Lane, Joseph H. Peck, Isaac H. Porter, and their associates, and all other persons who shall become subscribers to and owners of the capital stock by this act created, shall be, and they and their successors are hereby made and declared to be a body corporate and politic, in fact and in law, by the name of "the Native American Association of the City of Camden;" and by that name they shall have power to lease, purchase, and hold real estate in the city of Camden, in this state, and to erect thereon a hall or building, in whole or in part for the accommodation of said association and its business, and to make such improvements thereon as they may see fit, and generally to transact all such business, and do all such acts as may properly or necessarily appertain to the erecting, constructing, furnishing, leasing, selling, or otherwise disposing of and conveying such buildings, furniture, improvements, and real estate, or any part of the same. 2. And be it enacted, That the said corporation shall have power to raise by subscription a capital stock of one hundred thousand dollars. 3. And be it enacted, That the capital stock of said corporation shall be divided into shares of twenty dollars each, and shall be transferable in such manner as the by-laws of said corporation shall direct; and each of said shares shall entitle the owner thereof, or his lawfully constituted proxy in his stead, to one vote at all elections for officers of said association and in all stockholders' meetings for business or making by-laws for said corporation. 4. And be it enacted, That said corporation shall not go into operation until the commissioners in this act named shall receive subscriptions to said capital stock to the amount of twenty thousand dollars, and money on account of such subscriptions to the amount of ten thousand dollars, and an affidavit thereof, made by one of the said commissioners, shall have been filed in the office of the clerk of the county of Camden, and said subscriptions and money transferred to said corporation, as hereinafter is directed. sioners to scriptions. 5. And be it enacted, That the persons named in the first Commis section of this act be and they are hereby appointed com- receive submissioners to receive subscriptions (and money on account thereof) to the said capital stock; and said commissioners, or a majority of them, may, immediately after the passage of this act, open books and take subscriptions, and receive moneys for or on account of said capital stock, in such manner as they may deem expedient; and whenever the subscriptions so received by them shall amount to the sum of twenty thousand dollars, and the moneys received by them on account thereof to ten thousand dollars, the said commissioners, or a majority of them, shall convene the stockholders of the corporation, by giving two weeks' notice in a newspaper published in said city of Camden, stating the time, place, and object of the meeting; and the said stockholders, or a majority of them, who shall meet pursuant to such notice, shall proceed then and there to make such by-laws as they may deem expedient; provided, Proviso. the same shall not be contrary to the laws of this state or the United States, and to elect from among the stockholders of said corporation, a president, vice president, secretary, and treasurer, and as many managers as there may at the time be wards in the said city of Camden, who, together, shall constitute the board of directors of said corporation, and shall hold offices for one year and until other persons shall be elected in their stead; a meeting of the stockholders for which election shall annually thereafter be held at such time and place in the said city of Camden as by the by-laws of said corporation may be designated for the purpose; and the number of said managers elected at such meetings shall be equal to the number of wards at the time in said city of Camden. sioners to ney to direc 6. And be it enacted, That said commissioners, or a ma- Commisjority of them, as soon as said board of directors shall have deliver mobeen so chosen, shall transfer all moneys and subscriptions tors. so taken and received by them as aforesaid to the board of directors, and said commissioners shall thereupon be discharged, and their further action in the premises cease and Stock not to be with debts are paid. be at an end; and the remainder of said capital stock may be raised as the board of directors of said corporation shall deem expedient. 7. And be it enacted, That no part of the capital stock of drawn until said corporation shall, at any time or under any pretence, be withdrawn or refunded to the stockholders, until all the debts and liabilities of said corporation shall have been fully paid and satisfied. Debts not to exceed amount of capital stock. Officers to be citizens of this state. Annual statement to be made. 8. And be it enacted, That the whole amount of debts which said corporation shall at any time owe shall not exceed the amount of its capital stock actually subscribed for; and in case of any excess, the directors under whose administration it shall happen (except such director or directors as shall, before the contracting of said debt, file in said clerk's office of Camden county his or their dissent to the contracting of such debt), shall be jointly and severally personally liable to the extent of such excess. 9. And be it enacted, That the officers of said corporation shall all be stockholders of said corporation and citizens of the United States and of this state, and shall at the time of their election reside in said city of Camden, and be legally entitled to vote therein; and the office or offices of the officers of said corporation shall, with the records, books, and papers of said corporation, be kept in said city of Camden. 10. And be it enacted, That at the time of each annual meeting of said stockholders for choosing said board of directors, the board of directors of said corporation shall submit to said stockholders a written statement, verified by the accompanying oath of the president (or in case of his absence or inability, the vice-president) and secretary, of the capital stock paid in, the amount of debts existing against the corporation, as well as the receipts, credits, and assets of said corporation; and no dividend shall at any time be declared or paid except from the surplus profits of said corporation. 11. And be it enacted, That this act shall take effect immediately. Approved March 18, 1858. CHAPTER CLXX. AN ACT to incorporate the Hainesport Boarding House Company. WHEREAS, the owners of the premises hereinafter men- Preamble. tioned, situate at Hainesport, in the county of Burlington, and others, are desirous of rebuilding, improving, and fitting up the same as a place of summer resort for persons from Philadelphia and elsewhere; and whereas it is represented that corporate powers are necessary, the more conveniently to carry out the intentions of the said owners and others who wish to join the said enterprisetherefore, sioners to for subscrip 1. BE IT ENACTED by the Senate and General Assembly of Commisthe State of New Jersey, That all such persons as shall be- open books come subscribers to the capital stock hereinafter mentioned, tion. their successors and assigns, shall be and are hereby constituted and made a body politic and corporate, in fact and in law, by the name of "The Hainesport Boarding House Company;" and that Allen Fenimore, William Irick, John K. Roberts, Peter V. Coppuck, Allen Rogers, Benjamin Buckman, David Darnell, Nathan D. Pancoast, Allen Middleton, Jr., William C. Porter, Thomas M. Adams, Howell Evans, and Barclay Haines, or a majority of them, are hereby appointed commissioners to open the subscription books and receive subscriptions to the capital stock, at such times and places as they, or a majority of them, shall direct, giving notice thereof for at least two weeks prior to the opening of said books, by publishing the same in one or more newspapers published in the county of Burling ton. capital 2. And be it enacted, That the capital stock of said com- Amount of pany shall be twenty thousand dollars, with the privilege stock. for the said company to increase the same at any time or times to any sum not exceeding fifty thousand dollars, which shall be divided into shares of one hundred dollars |