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concerning corporations," approved the fourteenth day of February, in the year of our Lord one thousand eight hundred and forty-six.

Approved March 18, 1859.

CHAPTER CLXX.

A FURTHER SUPPLEMENT to an act entitled “An act for the preservation of sheep," approved April fourteenth, one thousand eight hundred and forty-six.

repealed.

1. BE IT ENACTED by the Senate and General Assembly of Former act the State of New Jersey, That the act entitled "A further supplement to the act entitled 'An act for the preservation of sheep,' approved April fourteenth, eighteen hundred and forty-six, and the supplement thereto, approved March sixth, eighteen hundred and fifty," which said further supplement was approved March eighteenth, eighteen hundred and fifty-one, be and the same is hereby repealed.

of former act

2. And be it enacted, That nothing in this act shall be so Provisions construed as to prevent the fourth and sixth sections of the extended. said act entitled "An act for the preservation of sheep," to which this is a further supplement, from extending to and being in force in the township of Green, in the county of Sussex.

3. And be it enacted, That this act shall take effect immediately.

Approved March 18, 1859.

Commissioners to receive sub

scriptions.

Amount of capital stock.

Proviso.

CHAPTER CLXXI.

AN ACT to incorporate the Stockton and Newton Turnpike Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That all such persons as shall become subscribers to the capital stock hereinafter mentioned, their successors and assigns, shall be and they are hereby ordained, constituted, and made a body politic and corporate, in fact and in law, by the name of "The Stockton and Newton Turnpike Company," and that John M. Kaighn, Joseph M. Cooper, Charles Kaighn, Henry B. Wilson, and William S. Doughten, 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, may direct, giving notice thereof, at least twenty days prior to the opening of said books, by publishing the same in one of the newspapers published in the city of Camden.

2. And be it enacted, That the capital stock of said company shall be five thousand dollars, and shall be divided into shares of twenty-five dollars each; and that, at the time of subscribing to said stock, two dollars and fifty cents shall be paid upon each share subscribed for, to the said commissioners, or any of them, which money shall be paid over to the treasurer of said company, as soon as one shall be appointed; and that the residue of said stock shall be paid in such instalments, and at such times and places, and to such person or persons, as the board of directors of said company shall from time to time direct; and upon failure of the payment thereof, as so directed, the said board 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 said company; provided, that if the number of shares subscribed for shall exceed the number of shares authorized by this act, the said commis

sioners, or a majority of them, shall apportion the stock among such subscribers, in proportion to the amount or number of shares by them subscribed for as aforesaid; but no subscription for less than six shares of said stock shall be reduced by such apportionment.

directors.

3. And be it enacted, That the affairs of said company Election of shall be managed by a board of five directors, a majority of whom shall be a quorum for the transaction of business, but any less number may adjourn from time to time; that when one hundred shares of said stock shall be subscribed for, the said commissioners, or a majority of them, shall call a meeting of the stockholders, giving at least twenty days' notice of the time and place of said meeting in the newspaper aforesaid, at which meeting the subscription books shall be laid before the stockholders, who shall thereupon proceed to elect, by ballot, seven directors for the term of one year, and until others are chosen in their stead, a majority of whom shall be citizens of this state, of which election the said commissioners, or a majority of them, shall be judges; and that at the expiration of said term, and annually thereafter, upon like notice to be given by the board of directors for the time being, the stockholders shall elect, by ballot, seven directors, to hold as aforesaid; and the judge of said election shall be appointed by said board; and at every such election, and in all other cases in which the stockholders shall be entitled to a yote, a vote may be given for each share, by the holder thereof, in person or by proxy; and that if three hundred shares of said stock shall not be subscribed for within one year, and the said road completed within three years from the passage of this act, then this act shall be null and void; and the said commissioners, after deducting thereout the expenses incurred, shall return to the respective subscribers, or their representatives, the residue of the money paid by them, in proportion to the sum paid.

corporation.

4. And be it enacted, That, as soon as conveniently may Officers of be, after the first and every subsequent annual election of directors, they shall elect a president, secretary and trea

Annual

statement to be made.

Company authorized

road.

surer of said company, for the term of one year and until others shall be elected in their stead, who shall receive. such compensation for their services as the board of directors may direct; the president shall preside at all meetings of said board, and in case of his absence the said board shall appoint some one of their number, who, for the time being, shall possess the same power and authority and perform the like duties; and the board of directors may fill any vacancy that may occur therein until the next annual election, and may exact from the president, treasurer and other officers and agents of said company, such security for the due performance of their respective duties and trusts as they may deem expedient; and special meetings of the stockholders may be called by the said board, or by the stockholders owning one-fourth of the whole stock of the company, by giving notice of the time and place of holding the same, and the object for which such meeting is called.

5. And be it enacted, That at the annual meeting of the stockholders, the board of directors for the preceding year shall exhibit to them a full and complete statement of the affairs of the company during said year.

6. And be it enacted, That it shall and may be lawful for to construct the said company to construct and make a turnpike road from Kaighn's Point through Stockton to connect with the Haddonfield turnpike-And also to construct and make a turnpike road from the city line, on the straight road being the continuation of Market street in South ward to its intersection with the Haddonfield turnpike in the county of Camden, on or near the present public highways, at least thirty-two feet in width, and not exceeding four rods, which said turnpikes shall be sufficiently arched and drained to make and keep the same dry, at least eighteen feet thereof shall be sufficiently bedded and faced with stone, gravel, or other material, to make a solid, firm, and even road at all seasons of the year; and it shall be so graded that in progress no part shall rise above an angle of four degrees with the plane of the horizon; and the

said company shall construct, keep in repair, maintain, and make good and sufficient bridges along the line of said road, not less than twenty feet in width; and whenever the said road or roads shall be raised so much at the margin or side as to render carriages passing thereon liable to overset, the said company shall cause good and sufficient railings to be erected and maintained on the sides, so as to prevent horses and carriages from running off; and the said company may, by their officers, agents, or other persons in their employ, enter, from time to time, and at all times, upon all lands, to search for stone, gravel, sand, or clay, for constructing and improving said road or roads as aforesaid, doing no unnecessary damage to said land; pro- Proviso. vided, that before the said company shall construct the said turnpike road or roads as aforesaid, they shall pay to the respective owners of the lands over which the same may pass all the damages which the said owners will sustain by reason of the construction of said turnpike road or roads, and in case the said company and the said owners cannot agree upon the amount of said damages, then the said damages shall be ascertained and determined, as nearly as may be, in the manner hereinafter provided for ascertaining and determining the damage which any land owner or owners may sustain by the taking of stone or gravel from his or her lands for the construction or maintaining of said turnpike road or roads.

in case com

pany and not agree.

Owners can

7. And be it enacted, That it shall and may be lawful for Proceedings the said company, their agents, superintendents, engineers, and workmen, and other persons by them employed, with carts, wagons, and other carriages, and with beasts of burthen and draft, and all necessary materials, tools, and implements, to enter upon all lands contiguous or near to the said road or roads, doing no unnecessary damage thereto, and to make all such ditches and underdrains across and through such lands as may be necessary for properly draining said road, and to take and carry away any stone, sand, gravel, or clay therefrom, suitable for constructing

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