name. and Charles Vansant, and all persons, not exceeding one hundred in number, as now are or hereafter shall become associates of the America Hose Company of Mount Holly, be, and they are hereby constituted and declared to be a body corporate and politic, in fact and in law, by the name of the America Hose Company of Mount Holly," and by Corporate such name they shall have succession, and be persons in law capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in all courts of judicature whatsoever; and that they and their successors may have a common seal, make, enter into and execute any contracts or agreements touching or concerning the objects of said incorporation, and shall have full power and authority to make, form and adopt such form of constitution and such by-laws and regulations for their government, not inconsistent with the constitution and laws of this state or of the United States, as they shall think proper. capital stock. 2. And be it enacted, That the capital stock of the said Amount of company shall not exceed the sum of five thousand dollars, which shall be applied to the purchase and holding real estate, to the procuring, maintaining and repairing such fire engine, hose carriage, hose, ladders, buckets, fire hooks, hose house or other property, and such implements and machines, and to such other incidental expenses as shall to the said company appear best calculated to secure the property of their fellow citizens from injury or destruction by fire; and shall have power to borrow such sum or sums of money as may be necessary to pay for the same, and to secure the payment thereof by bond and mortgage, or otherwise, on the said real and personal estate. 3. And be it enacted, That the said company shall have Officers. power to elect annually, or oftener, if necessary, a president, secretary and treasurer, and such other officers and assistants as they shall deem necessary for conducting their affairs, according to their constitution and by-laws, and that the said president shall keep in his custody the common seal of the said company, and at the expiration of his term of office shall deliver it over to his successor; and in their corporate name may institute suits for the recovery of all fines, debts and arrearages due the said company. 4. And be it enacted, That this act shall take effect immediately. Approved March 8, 1870. Preamble. Authorized to construct a horse railroad Time for com. pletion ex. tended. Change of name. CHAPTER CLXXXII. A Supplement to "An Act to incorporate the Bloomfield and Orange Horse Car Railway Company," approved April fifteenth, eighteen hundred and sixty-eight. WHEREAS, the act to which this is a supplement, and an act entitled "An act to set off from the township of Bloomfield, in the county of Essex, a new township to be called the township of Montclair," were both approved on the fifteenth day of April, eighteen hundred and sixty-eight; and whereas, the said "The Bloomfield and Orange Horse Car Railway Company," desire authority to construct their road, either to any point within the present limits of the township of Bloomfield, or within the original limits of said township; therefore, 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the said "The Bloomfield and Orange Horse Car Railway Company," be and they are hereby authorized and empowered to construct their railway from some suitable point in the town of Orange, in the county of Essex, to some suitable point either within the present limits of the township of Bloomfield, in said county, or within the original limits of said township. 2. And be it enacted, That the time for the completion of said railway be, and the same is hereby extended for three years from and after the expiration of the time limited in the charter of said company, and that the name of the said company be and the same is hereby changed to "The WatChung Railway Company.' 3. And be it enacted, That this act shall take effect immediately. Approved March 8, 1870. CHAPTER CLXXXIII. An Act to incorporate the New Jersey Mutual Benefit Company, of Bergen County. name. 1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Richard K. Cook, John R. porators. Lydecker, Stephen Van Brunt, Eben Winton, Edward C. Homans and Daniel W. Leeds, and such other persons as may be hereafter associated with them, be and they are hereby constituted and made a body politic and corporate, by the name of "The New Jersey Mutual Benefit Company, of Corporate Bergen County," and having for their object mutual protection and benefit, in case of death, with power to make and establish such by-laws, rules and regulations as they shall deem expedient for the better management of the concerns of said corporation, and the same to alter and repeal at pleasure; provided always, that such by-laws, rules and regulations be not inconsistent with the laws of this state or the United States. estate. 2. And be it enacted, That it shall be lawful for the com- May hold real pany to have, hold, purchase, receive, possess and enjoy, to and personal themselves and their successors, real and personal property of every kind, to an amount not exceeding three hundred thousand dollars, and the same, or any part thereof, may sell, grant and alien, may sue and be sued, plead and be impleaded in all courts whatsoever, and may do and execute all acts and things to them appertaining in their said corporate capacity; the company may issue certificates of membership, which Certificates of certificate shall state on its face the agreement with the mem- membership. ber receiving the same, and, when signed by the president and countersigned by the secretary, shall be binding on the company; and the company shall forward, within sixty days, satisfactory proof of death, the amount as stated in said certificate; a post office money order for the amount of any assessment, lawfully registered in any post office and forwarded to the company, within forty days from the date of the notice of the same, shall be recognized as payment of said assessment. 3. And be it enacted, That for the well ordering and gov tion of direc Annual elec- erning of the affairs of said company, there shall be chosen tors. annually, at such time, and in such manner as the by-laws of the company shall prescribe, not less than three nor more than nine directors, who shall continue in office until their successors are appointed; and no meeting of the company shall be legal unless notice is given at least two weeks previous in two newspapers published or circulating in the county of Bergen; but no failure to appoint directors shall cause a dissolution of the company. Powers of directors. Directors au ceive sub guarantee 4. And be it enacted, That the directors shall choose a president and vice president of the corporation, and they shall also appoint such other officers, clerks and agents, and establish such agencies, and fix such compensation as they may deem advisable; and they shall have power to make such covenants and agreements, perform such acts, and exercise such powers, as they shall deem expedient, subject to the authority, provisions, and limitations of the charter, constitution and by-laws of said corporation; to declare dividends out of the surplus earnings of the company, whenever they may deem it advisable; the president and vice president may hold their offices for one year, and until others are chosen ; but the other officers, agents, and servants of the company may be displaced, and others appointed in their place by the directors; in the absence or disability of the president, the vice president may exercise the duties of the president, and if both are disabled the directors may choose a president pro tempore; and the directors for the time being shall have power by the vote of the majority to fill any vacancy which shall happen in their board by death or resignation, or otherwise, by choosing a director or directors from among the members of said corporation, who shall continue in office until a successor or successors shall otherwise be chosen. 5. And be it enacted, That the directors of the company thorized to re- are hereby authorized and empowered to receive subscripscriptions to a tions to a guarantee fund for said corporation for an amount fund. not exceeding two hundred thousand dollars, which shall be transferable on the books of the company; and said subscribers to said fund shall pay on subscribing thereto at least ten per centum on the amount subscribed, and the directors may make further assessment until the amount so subscribed shall be paid, or secured to be paid to the satisfaction of said board of directors; and whenever such fund shall be liable for the payment of losses, according to the rules of the com pany, the amount shall be assessed pro rata to the amount of the fund on each of the subscribers to said fund. 6. And be it enacted, That whenever all assessments shall Guarantee fund may be have been returned to the subscribers of the guarantee fund, retired. and the receipts of the company shall exceed the expenses, to an amount equal to the amount of the guarantee fund, then the directors, at their option, may retire or return all or such portion of the guarantee fund to the subscribers as the interests of the company may seem to them to require. guarantee 7. And be it enacted, That the subscribers to said guarantee Interest on fund shall be entitled to receive from the funds of the com- fund. pany three and one half per centum semi-annually for all moneys actually advanced by them to the company for the use and liability of said fund so actually paid in. subscribers to to vote. 8. And be it enacted, That in all elections for directors, Members and and in all questions which shall arise at the annual meetings, guarantee each member of the company, and each subscriber to the fund entitled guarantee fund, shall be entitled to vote and take part in the meeting, and each shall be eligible to the office of director; all the officers of the company shall give bonds for the faithful performance of their duties, in such amounts as the directors may require; and the directors shall make a statement of the affairs of the company at each annual meeting. 9. And be it enacted, That this act shall take effect immediately. Approved March 8, 1870. CHAPTER CLXXXIV. A Further Supplement to "An Act to incorporate the Elwood capital stock. 1. BE IT ENACTED by the Senate and General Assembly of Increase of the State of New Jersey, That the act to which this is a supplement, be and is hereby so amended as that the capital |