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Record of pro

action for money paid, laid out and expended for his or their use in any court having cognizance of the amount claimed.

11. And be it enacted, That the managers who shall from ceedings to be ime [to time] be elected in pursuance of this act, shall keep a record of all their proceedings, and of all moneys received and expended by them, and also of the number of days which they shall be employed in discharge of their duties during each year, and shall submit to the annual meeting a full report of all their proceedings, receipts and expenditures, during the preceding year, and shall deliver over said records and all books, maps, papers and moneys in their hands to their successors as soon as they shall be qualified to act; the managers shall each be entitled to receive the sum of four dollars per day for each and every day which they shall devote to the duties imposed on them by this act.

Managers may negotiate for

of Dennis

12. And be it enacted, That said managers shall be and the purchase hereby are authorized to negotiate with the owner or owners mill property. of the property known as Dennis' mill property, consisting of about fourteen acres of land and the water power, mills and other buildings thereon, for the purchase thereof; and in case the said managers can agree with the said owner or owners, it shall be lawful for them to purchase the said mill property, and to pay for the same out of moneys raised by assessments as herein before provided, and it shall be lawful for the said managers to sell and convey at public or private sale any of said lands or buildings not wanted for the purpose of this act, and to give good and sufficient deed or deeds of conveyance therefor.

13. And be it enacted, That this act shall be deemed and taken to be a public act and shall take effect immediately. Approved April 21, 1868.

CHAPTER DLIV.

A Supplement to the act entitled "An Act to regulate fees," approved April fifteenth, eighteen hundred and forty

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penalty not to bill of costs.

1. BE IT ENACTED by the Senate and General Assembly of More than one the State of New Jersey, That the seventh section of the act be incurred in to which this is a supplement shall be so construed that no forfeiture or penalty shall be incurred by, or recovered against, any clerk under the said act, unless it shall appear that the error or errors made by him, in the taxation of any bill of costs, were wilfully, knowingly and fraudulently allowed; and that no more than one penalty shall be recovered in any case upon one bill of costs, and that this act shall take effect immediately.

Approved April 21, 1868.

CHAPTER DLV.

A Further Supplement to the act entitled "An Act to incorporate the Union County Building and Improvement Company," approved March thirteenth, eighteen hundred and sixty-six.

gage

tate.

1. BE IT ENACTED by the Senate and General Assembly of May purchase, the State of New Jersey, That the said company shall have a real es authority to purchase, hold, sell, lease or mortgage real estate in the township of Woodbridge, in the county of Middlesex. 2. And be it enacted, That this act shall take effect immediately.

Approved April 21, 1868.

Executor of

an executor

ister on estate

tor.

CHAPTER DLVI.

A Further Supplement to the act entitled "An Act respecting the Orphans' Court and the power and authority of Surrogates.

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1. BE IT ENACTED by the Senate and General Assembly of not to admin- the State of New Jersey, That no executor of an executor of first testa shall, as such, be authorized to administer on the estate of the first testator, but on the death of the sole or surviving executor of any last will and testament, letters of administration with the will annexed of the assets of the first testator left un-* administered shall be issued by the surrogate of the proper county to some proper person, who shall before the issuing thereof, give bond to the ordinary of this state, with sufficient sureties, according to the provisions of the act to which this is a supplement, and the supplement thereto, approved February the twenty-eighth, eighteen hundred and forty-nine, as far as the same are applicable.

2. And be it enacted, That this act shall take effect immediately.

Approved April 21, 1868.

Corporators.

CHAPTER DLVII.

An Act to incorporate the Middelesex and Somerset Agricultural Railroad Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Jacob Vanderveer, Peter Stoothoff, Daniel D. Stelle, Henry P. Cortelyou, Peter Ayres, William Williamson, E. L. Cushman, John Garrison, Caleb B. Vanderveer, Moore Baker, John C. Van Dorn, Cornelius Hoagland, Garret Van Dorn, Henry Stryker, John Hageman and Abraham Stryker, and such other persons as may be hereafter associated with them, shall be and they are hereby

ordained, constituted and declared to be a body politic and
corporate. in fact and in law, by the name of "The Middle-
e- Name.
sex and Somerset Agricultural Railroad Company," and shall
be capable of purchasing, holding and conveying any lands,
tenements, goods and chattels whatsoever, necessary or ex-
pedient for the objects of this incorporation.

2. And be it enacted, That the amount of the capital stock Capital stock. of said company shall be fifty thousand dollars with the privilege of increasing the same to two hundred thousand dollars, which shall be divided into shares of fifty dollars each, which shall be deemed personal property, and transferable in such manner as the said corporation shall by their bylaws direct.

scription to be

3. And be it enacted, That the above named persons, or a Books of submajority of them, may elect from their own number, three opened. persons, who, or any two of whom, shall be commissioners to open books to receive subscriptions to the capital stock of said corporation, at such time or times, and place or places, as they, or a majority of them, may think proper; giving at least twenty days' previous notice of the same in all the newspapers published in the county or counties through which said road may pass; and if more than the sum above mentioned shall be subscribed, it shall be the duty of the said commissioners to make such apportionment of the stock among the subscribers as they shall think best calculated to secure the speedy construction of said road.

rectors.

4. And be it enacted, That at the time of subscribing for Election of disaid stock, or as soon thereafter as said commissioners shall demand the same, ten per centum shall be paid upon the amount subscribed for, to the commissioners or one of them, and when ten thousand dollars shall be subscribed for, it shall be lawful for the persons above named, or a majority of them, to call a meeting of the stockholders, upon like notice as above, to choose five directors, a majority of whom shall be residents of this state; and such election shall be made at the time and place appointed in said notice, by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy, each share of the capital stock entitling the holder thereof to one vote; and said above named persons, or any three of them, shall be inspectors of the first election. of directors of the said corporation, and shall certify under their hands, the names of those persons duly elected, and after deducting a reasonable compensation for their own ser

vices, shall deliver over the subscription books and money paid in to the said directors; and the directors so chosen, and at every annual election of said corporation, shall, as soon as may be after every such election, choose out of their own number a president, who shall be a resident of this state, and in case of death, resignation, or incapacity or removal of the president or any director, such vacancy or vacancies may be filled for the remainder of the year in which the same may happen, by majority of said board of directors; and in the absence of said president, a majority of said board may appoint a president pro tempore, who shall have such powers and functions as the by-laws of the said corporation shall provide. Failure to 5. And be it enacted, That in case it shall happen that an not to dissolve election of directors should not be made during the day when, pursuant to this act, it ought to be made, said corpo. ration shall not for that cause be deemed to be dissolved, but such election may be held at any other time, on notice as aforesaid, and the directors for the time being shall continue to hold their offices until their successors shall have been chosen in their places.

elect ilrectors

Powers of directors.

Proviso.

a

May lay out

6. And be it enacted, That a majority of the directors of said corporation shall be competent to transact all business of the said corporation, and to call in the remaining capital stock of said company by such installments, and at such times as they may direct, by giving twenty days' previous notice in all the newspapers published in the counties through which said road may pass; provided, that no installments shall exceed ten dollars per share, and that no two installments shall be required to be paid within thirty days of each other; and in case of the non-payment of said installments, or any one of them, they shall have power to forfeit the share or shares upon which such default is made to the company; and said directors shall have power to make such by-laws, rules and regulations as to them shall appear useful and proper for the management and regulation of the stock, property, estate, effects and business of said corporation, and shall also have power to appoint such officers, clerks and servants, as to them shall seem meet, and to establish and fix such salaries to them and to the president as the said board shall think proper.

7. And be it enacted, That the president and directors of and construct the said company be and they are hereby author.zed and invested with all the rights and powers necessary and expedient to survey, lay out and construct a railroad from a point on

route.

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