Capital stock. pany shall be one hundred thousand dollars, and shall be divided into shares of fifty dollars each, with privilege to increase the said capital stock to two hundred thousand dollars; and the said company shall not commence business until one hundred thousand dollars of said stock shall be paid in cash, Location of and the principal office of said company shall be located in the city of Burlington. principal office. Business of 3. And be it enacted, That the business, property, and affairs of said company shall be managed and conducted by managed. such directors, not less than seven nor more than fifteen in number, three-fourths of whom shall be citizens of New Jersey, as may be elected for that purpose; a majority of said directors shall constitute a quorum, which directors shall hold their office for one year, and until others shall be chosen at the office of the company, public notice of which shall be given for one week in one or more of the papers published in Burlington city, and each share of stock shall entitle its owner to one vote at each election, which may be given in person or by proxy. Board of directors to officers. 4. And be it enacted, That the board of directors shall have appoint power to appoint a president, vice-president, treasurer, and necessary secretary, and such other agents and officers as they may deem necessary for carrying on the business of the company, and to allow them such compensation for their services as may, in their judgment, be deemed reasonable. Names of commis sioners to subscrip receive tions What company may 5. And be it enacted, That James H. Park, A. Jameson, A. H. Nichols, E. A. Condit, Edward Hall, be hereby appointed commissioners to receive subscriptions to the capital stock of said company, and that as soon as one thousand shares are subscribed, the said commissioners, or a majority of them, shall, by public notice published in two or more of the public papers published in Burlington city for one week, call meeting of the stockholders for the purpose of choosing the first board of directors. 6. And be it enacted, That it shall and may be lawful for Insure said company to insure houses, and other buildings and property, against loss or damage by fire, upon such terms and conditions as shall be contained in the policy of insurance; and may also insure ships, and other vessels, rights, interests, property, against every description of casualty incident to marine and inland transportation. Contracts may be 7. And be it enacted, That all policies or contracts formed made either thereon, which shall be made and entered into by said com H without pany, may be made under or without the seal thereof, and with or shall be subscribed by the president or vice president, or by seal. such other officer as may be designated for that purpose by the said company, and attested by the secretary, and being so subscribed and attested, shall be obligatory upon the said company according to the tenor, intent, and meaning thereof, and of such like policies and contracts. hold real essary for business. 8. And be it enacted, That it shall and may be lawful for May pursaid company to purchase and hold such and so much real chase and estate as may be necessary for their convenient accommoda- estate, nection in the transaction of their business; and also to take transacting and hold any real estate or securities, bona fide mortgaged or pledged to said company, to secure the payment of any debt which may be contracted with them; and also to proceed on said mortgage or other securities for the recovery of the moneys thereby secured, either at law or in equity, and to purchase on sales made under such proceedings, or otherwise to take and receive any real estate in payment in satisfaction of any debt previously contracted with or due to said company, and the real estate to mortgage, sell, exchange or otherwise to dispose of; and said company may invest their capital and accumulating funds from time to time in public stocks, bonds, notes, mortgages, and such other securities as the directors may approve. stock 9. And be it enacted, That the stock of said company shall capital be deemed to be personal property, and shall be assignable deemed and transferable according to such rules and regulations as personal the directors may establish from time to time in the by-laws of the company. property. and out of 10. And be it enacted, That it shall be lawful for the Dividends directors to make dividends of so much of the profits of by whom the company as shall appear advisable, among the stock- what to be holders, which dividends shall be paid out semi-annually to the parties entitled thereto, or their legal representatives. 11. And be it enacted, That this act shall take effect from the date of its passage. Approved March 12, 1874. made. Corporate name changed. Proviso. CHAPTER CCIV. A supplement to an act entitled "An act to incorporate the Newark Printing Company," approved April third, one thousand eight hundred and seventy-two. 1. Be it enacted by the Senate and General Assembly of the State of New Jersey, That the corporate name of the Newark Printing Company is hereby changed to the Morning Register Company; provided, that a majority of the stockholders of said Newark Printing Company so elect to change said name. 2. And be it enacted, That this act shall take effect immediately. Approved March 12, 1874. Names of CHAPTER CCV. An act to incorporate the Passaic Club, of the City of Passaic, in the County of Passaic. 1. BE IT ENACTED by the Senate and General Assembly of corporators the State of New Jersey, That John F. Barclay, William S. Gutierez, Eli W. Vondersmith, John Kennell, Louis G. Hampton, Charles D. Rouk, Peter Malloy, Benjamin F. Popple, James Hulse, R. B. Smith, Dr. R. A. Terhune, and such other persons as now are or may hereafter be connected with them, are hereby constituted a body corporate by the Corporate name of "The Passaic Club," of the city of Passaic, in the county of Passaic, for the purpose of establishing a reading room and in other lawful ways improving mental and physical education and social intercourse among its mem name. bers. and convey erty. 2. And be it enacted, That the said club shall and may at May hold at all times hereafter be capable of having, holding and real or perpossessing, and also of conveying and leasing any real or sonal proppersonal estate of which by purchase or donation they shall become possessed, so far as the same is needed, for carrying out the objects for which the said association is incorporated. by-laws,&c. 3. And be it enacted, That the said club shall have power May make to make and adopt a constitution and by-laws, and to make and enforce rules for the administration, suspension, and expulsion of its members and their governance, and defining also the duties of officers, their term of office, the times and manner of their election, which rules they may from time to time alter or repeal, and in their corporate name may in. stitute suits for the recovery of all fines, debts, fees, dues and arrearages due the said corporation. 4. And be it enacted, That this act shall take effect immediately. Approved March 12, 1874. CHAPTER CCVI. An act to change the name of William H. Unruh. 1. BE IT ENACTED, by the Senate and General Assembly of the State of New Jersey, That the name of William H. Unruh, Nanged. of the city of Newark, in the county of Essex, be and the same is hereby changed to William H. Jaques, and by that name he shall be known in all courts, places and proceedings, and shall possess all the rights, powers and privileges which he would have possessed under and by his original name; and that all gifts, grants, bequests, devises, contracts, agreements and conveyances, of any and every kind and description whatsoever, heretofore made by, with or to him, under and by the name of William H. Jaques, shall be and the same are hereby declared to be as valid and effectual in law, to and for all intents and purposes whatsoever, as though the same had been made by, or to him under, and by his said original name. 2. And be it enacted, That this act shall take effect immediately. Approved March 12, 1874. Name changed. CHAPTER CCVII. An act to change the name of William H. Patch. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the name of William H. Patch, of the town of Williamstown, in the county of Gloucester, be and the same is hereby changed to William H. Austin, and by that name he shall be known in all courts, places and proceedings, and shall possess all the rights, powers and privileges which he would have possessed under and by his original name; and that all gifts, grants, bequests, devises, contracts, agreements and conveyances of every kind and description whatsoever, heretofore made or to be made by or to him, under and by the name of William H. Austin, shall be and the same are hereby declared to be as valid and effectual in law, to and for all intents and purposes whatsoever, as though the same had been made by or to him under and by his said original name. 2. And be it enacted, That this act shall take effect immediately. Approved March 12, 1874. |