name, appoint and commission an additional commissioner for New Jersey, resident in Pennsylvania, with the same. powers and authority given to the other commissioners resident in Pennsylvania, by the act to which this is a supplement. Approved March 10, 1856.

CHAPTER XCV I.

AN ACT to incorporate the Jefferson Manufacturing Company.

1. BE IT ENACTED by the Senate and General Assembly of the Names of State of New Jersey, That George Bird, Jonathan Bird, George corporators. B. Grinell, Levi P. Morton and Robert S. Swords, or the survivors or survivor of them, and all such persons as may be hereafter associated with them, or the said survivors or survivor of them, their successors and assigns, shall be and they are hereby created a body politic, in fact and in name, by the name of the Jefferson Manufacturing Company," for the purpose of manufacturing fabrics of wool, silk, cotton and flax, or either of them, and dyeing, bleaching and printing the same or other fabrics, and carrying on the business incident to such manufacture, in the counties of Essex and Passaic, or in either of them.

2. And be it enacted, That the stock, property and concerns Election of of such corporation shall be managed and conducted by five directors. directors, being stockholders, one of whom shall be president, who shall hold their office for one year; and that the said directors shall be chosen on the first Monday in January in each and every year, at such time and place as shall be directed by the by-laws of said corporation; and public notice of the time and place of holding every such election, not less than ten days previous thereto, in one or more newspapers published

First directors.

Amount of capital stock

in the counties of Essex or Passaic, by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy; and each stockholder shall be entitled, either in person or by power of attorney, to as many votes as he shall hold shares of the capital stock of the said company; and any person having the greatest number of votes, being a stockholder, shall be a director; and the directors chosen at one election shall be capable of serving, by virtue thereof, until another election shall be had; and the directors so chosen shall appoint clerks and superintendents, and assign such compensation as they shall see fit, not less than a majority of the whole number being present when the same shall be done; and if it shall at any time happen that any vacancy or vacancies occur by death, resignation or otherwise, among the directors, named in this act or those hereafter to be elected, such vacancy or vacancies shall be filled by such person or persons as a majority of them shall appoint, and until other directors. are chosen from the stockholders; and the first directors shall be George Bird, Jonathan Bird, George B. Grinell, Levi P. Morton and Robert S. Swords, and the survivors or survivor of them, who shall hold their office until the first Monday in January next, or until other directors are legally chosen.

3. And be it enacted, That the capital stock of said corporation shall be one hundred thousand dollars, with liberty to increase the same to two hundred thousand dollars, and shall be divided into shares of one hundred dollars each; but as soon as the sum of fifty thousand dollars of said capital stock shall have been subscribed and paid, or satisfactorily secured to be paid, it shall and may be lawful for the said company to commence their said business, and with that capital to conduct and carry it on until they shall deem it expedient to extend their operations; and it shall be lawful for the said directors, or their successors, of said company to call and demand from the said stockholders all sums of money by them subscribed, at such time and in such proportions as they shall deem proper, under pain of forfeiting such shares of said stockholders, and all previous payments thereon, if such payments be not made in thirty days after notice shall have been published once in three weeks in some one or more newspaper or news

papers printed in either of the counties of Essex and Passaic.

scription to

4. And be it enacted, That the subscription of said stock Books of subshall be open for any number of days not exceeding five, at be opened. Congress Hall, in the city of Paterson, under the direction of the said board of directors, or such of them as shall be designated for that purpose; and the said directors shall give due notice of the opening of said books for the subscription to the capital stock of said company for two weeks, by publishing the same in one or more newspapers published in the city of Paterson aforesaid.

ferable.

5. And be it enacted, That the stock and property of said Stock transcorporation of whatsoever name or kind, shall be deemed and held as personal property, and be transferable in such manner as shall be prescribed by the by-laws of said corporation; pro- Proviso. vided, that no dividend shall be made to and among the stockholders except from out of the net profits of said corporation.

not dissolved

to elect on

day pre

scribed.

6. And be it enacted, That in case it should at any time hap- Corporation pen that an election should not be held on the day when per- for failure suant to this act the same should be held, the said corporation for this cause, or for that of any other non user, shall not be deemed to be dissolved, but it shall and may be lawful to hold such election on such other day in the manner aforesaid, as shall and may be prescribed in the by-laws of said corpora

tion.

make by

7. And be it enacted, That a majority of the directors for the Directors to time being shall form a quorum for the transaction of the bus- laws. iness of said corporation, and shall have full power to ordain, establish and put into execution such by-laws, ordinances and regulations as shall be necessary and convenient for the gov ernment and the management of the stock, effects and concerns of said corporation; provided, the same be not contrary Proviso. to the laws of this state or of the United States.

count to be

8. And be it enacted, That the directors of said corpora- Books of action shall at all times keep or cause to be kept proper books kept. of account, in which shall be entered the transactions of said. corporation, which books shall at all times be open to the inspection of the stockholders of said corporation or their legal attorney or attorneys; and further, that no transfer of stock

Corporation may be dissolved.

Proviso.

Lanitation.

shall be valid and effectual until such transfer shall be entered and registered in the book to be kept by the president and directors for that purpose.

9. And be it enacted, That the said corporation may be dissolved at any meeting of the stockholders specially convened for that purpose; provided, that three-fourths in value of the stockholders shall be present and represented therein, and vote in favor of such dissolution; and upon such dissolution the directors for the time being, or the survivors or survivor of them, shall be the trustees for the settling the affairs of said corporation, disposing of its effects, recovering and paying its debts, and dividing the surplus, if any, among the stockholders of said corporation in proportion to their respective shares or interest therein, unless the stockholders at such general meeting shall appoint other persons, not less than three in number, for that purpose, in which case the persons so appointed, or the survivors or survivor of them, shall be trustees for the purpose aforesaid.

10. And be it enacted, That this act shall continue in force for the space of twenty years.

Approved March 11, 1856.

D. Aten authorized to establish ferry.

CHAPTER XCVII.

AN ACT to establish a public ferry across the Delaware River at or near Aten's Ferry, in the county of Warren.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Derrick Aten, his heirs and assigns, shall have the right and privilege, at their own expense, to make good and convenient landings on the east and west

sides of the Delaware river, at or near Aten's Ferry, in the county of Warren, in the state of New Jersey, and the county of Northampton, in the state of Pennsylvania, and to use the said river between the said landings as a public ferry.

pair.

2. And be it enacted, That the said Derrick Aten and his heirs Landing and ferry to be and assigns shall keep the said landings and ferry in good kept in recondition and repair, fit for the transportation and passage of persons and property, horses and other animals, carriages, et cetera, and shall keep good and substantial boats and other necessary crafts, and competent and careful ferrymen, who shall constantly, as occasion shall require, attend for the purpose of transporting persons and property as aforesaid over the said river with all reasonable diligence and attention.

3. And be it enacted, That the said Derrick Aten, his heirs Rates of toll. and assigns, as a remuneration for keeping up in good repair the said landings and ferry as aforesaid, shall be entitled to receive such tolls for transporting persons and property as aforesaid, as may be prescribed by the board of freeholders of Warren county, and shall be in accordance with the rates of tolls received by other ferries of like import crossing said river, and shall be allowed the privilege to extend a rope or wire. across the said river if they deem it advisable to facilitate the business of the said ferry; provided, that the rope or wire afore- Proviso. said shall not be so constructed as to obstruct or interfere with the ascending and descending navigation of the said. river, and that nothing in this act contained shall be so construed as to authorize the said Derrick Aten, his heirs and assigns, to erect or construct the said landings, or to receive or discharge persons or property as aforesaid, on lands belonging to any other person, without the consent of the owner or owners thereof.

injuring

4. And be it enacted, That if any person or persons shall Penalty for wilfully pull down, cut or break, or in any way injure or des- works. troy any rope, wire, boat or other property, or shall take from its moorings any boat or craft belonging to the said ferry, he, she or they so offending shall each forfeit and pay to the said Derrick Aten, his heirs and assigns, the sum of twenty dollars, in addition to all damages sustained, to be recov ered as debts of like amount are by law recoverable.