May purchase and hold stock rates as may be agreed upon by the board of directors of the two companies; and that the said New Jersey Southern Railroad Company may purchase the railroad property and franchises of the said Long Branch and Sea Shore Railroad Company upon filing the consent of three-fourths of the stockholders of the said Long Branch and Sea Shore Railroad Company in the manner and to the effect provided in this act for consolidation of said companies; and the said Long Branch and Sea Shore Railroad Company are hereby authorized to make such lease or sale. 8. And be it enacted, That the said New Jersey Southern of railroads. Railroad Company may purchase and hold the stock of any railroad in this state which is now or hereafter shall be chartered by authority of the legislature of this state, and whose railroad connects or may hereafter connect with the railroad or branches of the said New Jersey Southern Railroad Company. May endorse bonds of any connecting railroad. 9. And be it enacted, That the said New Jersey Southern and guarantee Railroad Company may endorse and guarantee the bonds of any railroad company authorized by the legislature of this state, and whose railroad or branches do now or may hereafter connect with the railroad or branches of the said New Jersey Southern Railroad Company. Conveyance ratified and confirmed. Rates of fare. 10. And be it enacted, That the conveyance to the said New Jersey Southern Railroad Company by the name of the Raritan and Delaware Bay Railroad Company, by William A. Torrey and Samuel W. Torrey, and the Camden and Atlantic Railroad Company, of all that branch of the Camden and Atlantic Railroad lying between Jackson (now called Atco), in the county of Camden, to Atsion, in the county of Burlington, by deed bearing date the fourteenth day of September, eighteen hundred and sixty-nine, and recorded in the office of the court of the county of Camden on the seventeenth day of September, eighteen hundred and sixtynine, be hereby ratified and confirmed, and that the said New Jersey Southern Railroad Company shall be invested with all the rights, privileges, franchises and property belonging to the said railroad so conveyed, and shall have full power and authority to operate and maintain the same, and to transport passengers and freight thereon at such rates and such charges as they may adopt, not exceeding six cents per ton per mile for the transportation of property, or more than three cents per mile for the carrying of each passenger; pro vided, that no charge shall be required to be less in the ag- Proviso. gregate than ten cents. passengers dise between 11. And be it enacted, That the said New Jersey South- May transport ern Railroad Company may use their said railroad, its branch- and merchanes, and any part thereof, for the transportation of passengers New York and and merchandize between the cities of New York and Phila- Philadelphia. delphia for the rates and compensation authorized by the charter, to which this is an amendment, and the supplements thereto subject to the articles of agreement mentioned in the next section of this act. agreement 12. And be it enacted, That certain articles of agreement Articles of bearing date the twenty-eighth day of October, in the year and eighteen hundred and sixty-nine, made and entered into by confirmed. the Camden and Amboy Railroad and Transportation Company, the Delaware and Raritan Canal Company, and the New Jersey Railroad and Transportation Company, parties of the first part, and the said New Jersey Southern Railroad Company, under the name and title of the Raritan and Delaware Bay Railroad Company of eighteen hundred and sixty-nine, of the second part, be and the same are hereby ratified, confirmed and approved; and that the said articles. of agreement filed in the office of the secretary of state on the first day of February, eighteen hundred and seventy, may be recorded in the office of the secretary of state of this state by the said secretary, and that a copy of said article of agreement certified by the said secretary from the said record, shall be evidence in all courts and places, both of the execution and contents of said articles of agreement. 13. And be it enacted, That the president of the said com- State tax. pany, shall file under oath or affirmation, a statement of the amount of the cost of the said railroad, including equipments, appendages, and all expenses in the office of the Secretary of state, and annually thereafter on the first Monday in January of each year; he shall under oath or affirmation, make a statement to the secretary of state, of the cost, equipments, appendages, and expenses of said road, and the said corporation shall pay to the treasurer of this state, a tax of one half of one per cent on the cost, equipments and appendages of said road, to be paid annually thereafter on the first Monday in January of each year, and such other taxes as may be assessed from time to time by a general law applicable to all railroads, over which the legislature shall have power for that purpose at the time of the passage of such law or laws, and until the said railroad shall make annual return to the secretary of state as above provided, the said corporation shall be regularly assessed and pay tax for the value of its real estate, including improvements thereon, and personal property as now taxed in the city or cities, township or townships wherein it lies, at the same time and rate, and in the same manner, for the same purpose, and by the same person or persons, as other taxes are assessed in said city or cities, township or townships, provided that no other tax or impost shall be levied or assessed upon said company. 14. And be it enacted, That this act shall take effect immediately. Approved February 16, 1870. May mort personal property to secure bonds. CHAPTER LXXXII. A Supplement to an act entitled "An Act to incorporate the 1. BE IT ENACTED by the Senate and General Assembly of gage real and the State of New Jersey, That the Dundee Manufacturing Company may and shall have the power to mortgage the real and personal property which they now or may hereafter own as security for bonds to be issued by them to the amount of two hundred and fifty thousand dollars, which they may dispose of in such manner and for such price as they see fit, and such bonds shall be a legal obligation against the company. 2. And be it enacted, That this act shall take effect immediately. Approved February 22, 1870. CHAPTER LXXXIII. An Act to authorize the Honey Brook Coal Company to hold property in New Jersey. perty in this 1. BE IT ENACTED by the Senate and General Assembly of May hold and the State of New Jersey, That the Honey Brook Coal Com-dispose of propany, a corporation created and existing under the laws of state. the state of Pennsylvania, is hereby authorized and empowered to hold and dispose of property within this state, for the purposes of its incorporation. 2. And be it enacted, That this act shall take effect immediately. Approved February 22, 1870. CHAPTER LXXXIV. An Act to incorporate the Hudson County Glass Manufacturing Company. porators. 1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Samuel Richards, Benjamin J. Edwards, Wm. C. Ellison, Frank Ellison, G. W. N. Custis, their associates, successors and assigns, be and are hereby created a body corporate and politic in fact and in law, by the name of "The Hudson County Glass Manufacturing Company," Corporate for the purpose of manufacturing all descriptions of glass and glassware, and of vending the same, and for that purpose shall be capable of purchasing, holding, leasing, mortgaging, and conveying any lands, tenements, privileges, rights, goods and chattels that may be useful or necessary. name. capital stock. 2. And be it enacted, That the capital stock of the said Amount of company shall be one hundred thousand dollars, with the officers. privilege of increasing it to two hundred thousand, and shall be divided into shares of fifty dollars each, which shall be deemed personal property, and shall be transferable on the books of the company under such rules and regulations as the by-laws prescribe, and each stockholder shall be entitled, in person or by proxy, to one vote for every share of stock held. Directors and 3. And be it enacted, That the stock, property and concerns of the said company shall be managed by a board of directors of not less than five nor more than seven stockholders, as the by-laws shall prescribe, who shall hold their offices one year and until others are legally appointed in their stead, and the said board shall organize by appointing one of their number president, and by appointing a secretary and treasurer, and such other officers as they may deem to be necessary and proper, and that they shall have power to fill all vacancies occurring in their own body. Annual election of directors. Commissioners to receive 4. And be it enacted, That the election of directors shall be held on the first Wednesday in May of each year after the May next ensuing, at such place in the county of Hudson and upon such notice as the board of directors or their by-laws shall trom time to time designate, and the above named Samuel Richards, Benjamin J. Edwards, William C. Ellison, Frank Ellison, G. W. N. Custis, shall be the board of directors, to serve until others are legally chosen. 5. And be it enacted, That the persons above named shall subscriptions be commissioners to receive subscriptions to said capital stock at such times and places in said county of Hudson as a majority of them may appoint, giving two weeks previous notice to that effect in one or more of the newspapers published in that county, and when one thousand shares of said capital stock shall have been subscribed for and twenty per centum thereon shall have been paid to said commissioners, they shall immediately thereafter call a meeting of the subscribers to said stock for the purpose of organizing the company, and the said commissioners shall deliver to the president all money, books and papers in their hands as such commissioners. May call in amount subscribed, un der penalty of forfeiture. 6. And be it enacted, That a majority of the board of directors shall have power to transact all the business of said company, to call in installments on stock subscribed for in such amounts and at such times as they may direct, giving to each subscriber ten days notice personally or by publication in one or more newspapers published in said county of Hudson, and also to forfeit to said company all shares upon which default |