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thereof at least two weeks, by publishing the same for two weeks in some newspaper published in this state, and cir. culating in the counties of Essex and Union; and as soon as the sum of ten thousand dollars shall be subscribed and paid in, a like publication as aforesaid, for the space of two weeks, shall be given for the meeting of the stockholders, to choose eleven directors, who shall hold their office for one year, and until others are elected.

4. And be it enacted, That the said election shall be cer- Subscriptified by the said commissioners, or a majority of them, &c., to be who shall thereupon deliver over to the directors elected directors. as aforesaid the subscription books and moneys paid in, at such time and place as shall be appointed by the commissioners, or a majority of them, notice whereof shall be given to the said directors, and who shall be thereupon authorized to hold their first meeting and commence business.

5. And be it enacted, That Joseph Battin, Henry Meeker, CommisJohn Young, James J. Mapes, John R. Pierson, William lease tract of F. Day, John C. Beardsley, Oliver S. Halsted, junior, John Teese, William Price and George R. Chetwood, or a majority of them, are hereby appointed commissioners to lease or purchase within one year from the date of this act such tract or parcel of land for the uses and purposes of this association as they may deem suitable therefor, which tract or parcel, when so leased or purchased, shall be leased or conveyed to said association, and shall be the only land held and used by them for the purposes contemplated by the provisions of this act; provided, such tract of Proviso. land shall be located in the township of Clinton, in the county of Essex.

6. And be it enacted, That after the land needed for the Duties and purposes of said association shall be leased or purchased as directors. aforesaid, all the affairs of the company shall be managed by eleven directors, to be chosen by the stockholders annually at such time and place, in such manner, and upon such notice as by the by-laws of said company may be directed, who shall serve for one year, and until others are

Objects of association.

chosen in their stead; and the said directors shall from time to time elect a president from their (their) body, and shall also elect and employ such other officers as they may deem necessary, and make all such by-laws, rules and regulations as they may think proper for the regulation and government of said association, for admission to their grounds; and for the purpose of maintaining order and preventing disturbances in and about the grounds shall have police jurisdiction within quarter of a mile of the boundaries thereof, with power to suppress the sale of ardent spirits, or to prohibit gambling, or any breach of the peace or laws of the state; and the said company shall not suffer or permit their grounds to be opened for pleasure (or) travel on the Sabbath day, nor suffer the lake, or said grounds, to be used for skating, fishing, or boating on the Sabbath day.

7. And be it enacted, That the object of the said associa. tion shall be to improve the swamp and low lands lying above or about the Stone bridge, on the creek known as Bound creek, in the township of Clinton, in the county of Essex, by overflowing any portion of the same, by means of a dam, or otherwise, to be erected and built on said Bound creek; and for the purpose of carrying out the provisions of this act, the said association are hereby authorized and empowered to erect a dam above the Stone bridge on Bound creek, in the township aforesaid, of such height as will permit the overflow thereof to pass under the arches of said bridge, or otherwise to create an artifi. cial lake, by overflowing said swamp and low lands; and to lay out the lands adjoining thereto, or any part thereof, into squares, parks, walks and other divisions, making such improvements as may be found or deemed necessary, convenient or ornamental; provided, the land thereby used or overflowed shall be previously leased or purchased for the use of the said association, as hereinbefore provided; and for the further carrying out the objects of this act the said association are hereby authorized and empowered to collect and receive a revenue from the sale of ice taken

Proviso.

from said lake, and by the hiring of the grounds so leased or purchased as aforesaid, for boating, fishing, skating, pic-nics, drives, and the general occupation thereof as a grove.

8. And be it enacted, That for the purpose of further Association carrying out the provisions of this act, said association real estate. shall be allowed to purchase or lease in the manner aforesaid, and to hold such real estate, and shall also be allowed to purchase and hold such personal estate as may be necessary for the purposes of said association.

9. And be it enacted, That this act shall take effect imme. Limitation. diately, and shall continue in force for forty nine years.

Approved March 23, 1859.

CHAPTER CCVIII.

An Act to incorporate the American Telegraph Company.

1. BE IT ENACTED by the Senate and General Assembly of Names of

corporators the State of New Jersey, That Edward Cooper, Abraham S. Hewitt, Cyrus W. Field, Hiram 0. Olden, Edward M. Archibald, Francis Morris, Robert W. Russell, and John H. Purdy, and such other persons as may hereafter be or become stockholders in the manner hereinafter provided for, shall be and are hereby ordained, constituted, and declared to be a corporation and body corporate and politic, in fact and in name, by the name of "The American Tele

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Amount of capital stock.

graph Company," and shall possess the general powers,
and be subject to the general restrictions and liabilities set
forth in “An act concerning corporations," approved on
the fourteenth day of February, eighteen hundred and
forty-six, so far as the same are applicable.

2. And be it enacted, That the capital stock of said com-
pany shall be seven hundred and forty thousand dollars,
with liberty to increase the same from time to time, at the
discretion of the directors, to an amount not exceeding
two millions of dollars, which capital stock shall be divided
into shares of one hundred dollars each, which shall be
deemed personal property, and be transferable in such
manner as the said corporation shall by their by-laws
direct: the said capital stock of seven hundred and forty
thousand dollars shall represent the following property,
that is to say: the telegraph lines, patent rights, and other
property owned by the companies called the American
Telegraph Company and the New York and Washington
Printing Telegraph Company, each of which companies
has a telegraph line running through this state and other
states, seven thousand four hundred shares of the said
capital stock, amounting to seven hundred and forty thou-
sand dollars, shall be issued to the persons named in the
first section of this act, and the other stockholders in the
said last mentioned companies, who shall thereupon be and
become stockholders in the company incorporated by this
act, and the whole capital of the said corporation shall be
deemed and considered to have been paid in.

3. And be it enacted, That the said company shall have to construct power to construct or purchase, hold, use, and maintain tain lines or any line or lines of electric telegraph, with the apparte

nances, whether wholly within (or wholly beyond), or partly
within or partly beyond the limits of this state, or to pur.
chase or take any lease of or other interest, legal or equi-
table in such line or lines, or the whole or any part of the
stocks of any telegraph companies, and from time to time
to discontinue such line or lines, or any part thereof, or to
change the routes thereof, or any part thereof, to purchase

Company authorized

.

any patent or patents, or any share thereof, or interest therein, for any telegraph apparatus or any invention relating to electric telegraphs, to purchase and hold any interest in real or personal estate required for the purposes of the company, to borrow money for any of the purposes aforesaid, to sell, assign, convey, mortgage, lease, or otherwise dispose of any of the property held by the company, as the board of directors may from time to time determine, and to divide the proceeds of such sales amongst the stockholders: the said corporation may, on making any purchase or lease mentioned in this section, pay the price or consideration in the shares of the stock of the corporation hereby created, and such last mentioned shares shall be deemed to represent so much capital paid in cash; and for the purposes aforesaid all necessary and incidental powers are hereby granted to the said corporation; and all contracts may be made either verbally or in writing, with or without the corporate seal, as may be provided in the bylaws of the company, except that all assignments, mortgages and conveyances of any part of the property of the said company must be signed by the president, or vice president and secretary, and sealed with the seal of the company by the authority of the board of directors; the board of directors of the said company may receive subscription for stock, and require payment of the same from such persons in such manner as they may by resolution, determine; and they may forfeit shares for the non-payment of the arrears due thereon.

4. And be it enacted, that there shall not be less than Election of seven, nor more than thirteen directors of the said company, two of whom and the president shall be residents of New Jersey, and the persons named in the first section of this act shall be the first directors of the said company; there shall be chosen by the stockholders on the first Monday in January, eighteen hundred and sixty, and on each first Monday of January thereafter, a board of directors, in the place of those whose terms will then expire, the election to be had at their office in the state of New Jersey, and in

directors.

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