Page images
PDF
EPUB

Corporators.

Name.

business of

CHAPTER DLVIII.

An Act to incorporate the Jersey City Safe Deposit Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That John Lamb, A. J. Fitch, Archibald K. Brown, William B. Rankin, and such other persons as may be associated with them, their successors and assigns, shall be and they are hereby constituted and declared to be a body politic and corporate, in fact and in law, by the name, style and title of "The Jersey City Safe Deposit Company,' and by that name and style and title shall be capable of purchasing, holding, leasing aud conveying any lands, tenements, goods and chattels necessary or proper for the objects of the Powers and corporation hereby created, with power to have, use and adopt the company. a common seal, and to alter and change the same at any time; and to sue and be sued, to defend and to be defended, in all courts of law and equity, with the power and privilege to receive and hold on deposit and in trust, moneys, goods and chattels, including the notes, bonds, obligations, bills of exchange, drafts and accounts of estates and individuals, and of companies and corporations, and the same to purchase, collect, adjust and settle, and also to sell and dispose thereof in any market in the United States, or elsewhere, and to receive on deposit for safe keeping, stocks, United States bonds, jewelry, plate, money, and other valuable property of every kind, upon terms to be prescribed by the by-laws of said company, and to pay or deliver the same upon orders or checks drawn by the person or persons in whose name they are deposited or left, and to collect coupons of United States bonds, or interest due upon obligations, when authorized so to do by parties depositing the same, to draw drafts, and to do a general exchange, commission and collecting business.

Capital stock.

2. And be it enacted, That the capital stock of said corporation shall be ten thousand dollars, with power to increase the same by a vote of the board of directors to one hundred thousand dollars, to be divided into shares of one hundred dollars each, which shall be deemed personal property; and the said company may organize and commence business

whenever ten thousand dollars shall have been subscribed, and fifty per centum thereof paid in; all stock subscribed shall be paid at such times and upon such notice as the board. of directors of said company may direct.

managed by a

tors.

3. And be it enacted, That the business of said corporation Business to be shall be managed and conducted by a board of directors of board of direc not less than three nor more than five in number, who shall be stockholders in said company; and at the first meeting after every election they shall elect one of their number president, and shall have power to appoint such other officers and agents as they may deem necessary; said board of directors shall hold their office for one year, and until others are chosen in their place.

how elected.

4. And be it enacted, That the directors shall be elected Directors, and at the annual meeting of the stockholders which shall be held on the fourth Tuesday in December in each and every year, at such hour and place as the by-laws of said company may direct; and until such annual election shall take place, the persons named in this act shall be the directors of said corporation, a majority of whom shall be competent to transact business.

for failure to

5. And be it enacted, That in case an election for directors Not dissolved shall not take place upon the day herein designated for that elect directors purpose, the corporation shall not be deemed dissolved, but the stockholders may proceed to hold an election on any other day, ten days previous notice of the time and place of said election having been first given, at which election and all meetings of the company, each stockholder shall be entitled to one vote, in person or by proxy, for each share of stock held; and that the principal office of said company Principal of shall be at the city of Jersey City, Hudson county, New located. Jersey.

fice, where

ment.

6. And be it enacted, That the directors shall, at the annual Annual statemeeting of the stockholders for the election of officers, exhibit a full and complete statement of the affairs of the company during the preceding year.

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

Approved April 22, 1868.

When gates

may be erect

manded.

CHAPTER DLIX.

A Supplement to the act entitled "An Act to incorporate the Toms River and Forked River Turnpike Company," approved March twenty-seventh, eighteen hundred and sixty

seven.

1. BE IT ENACTED by the Senate and General Assembly of ed and toll de- the State of New Jersey, That it shall be lawful for the Toms River and Forked River Turnpike Company when they shall have completed any two consecutive miles of said road, according to the directions and true intent and meaning of the act to which this is a supplement, for the said company to erect toll gates across the said road, and demand and receive toll for travelling thereon, agreeably to the fourteenth section of the act to which this a supplement.

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

Approved April 22, 1868.

Repaler.

CHAPTER DLX.

A Supplement to an act entitled "An Act to incorporate
Gloucester city, Camden county, New Jersey," approved
February twenty-fifth, eighteen hundred and sixty-eight.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That all that part of the proviso of section eight of the act entitled "An Act to incorporate Gloucester city, Camden county, New Jersey," that requires each and every ordinance passed by the city council of said city to be published in the papers of Camden county, be and the same is hereby repealed.

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

Approved April 22, 1868.

CHAPTER DLXI.

An Act to incorporate the Camden Improvement Company.

1. BE IT ENACTED by the Senate and General Assembly of Corporators. the State of New Jersey, That Jesse Smith, Edward Cohn, Richard S. Humphreys, John Hood, Abraham W. Nash, Charles S. Humphreys, Jesse E. Huston, William B. Scudder, Alden C. Scovel and such other owners of property in the city of Camden as they may associate with them, shall and they are hereby incorporated and made a body politic by the name of "The Camden Improvement Company.

Name.

2. And be it enacted, That the capital stock of the said Capital stock. company shall be one hundred thousand dollars, with the priv ilege of increasing the same to the sum of three hundred thousand dollars, divided into shares of one hundred dollars each, which shall be subscribed and paid in at such times, upon such notice and in such manner and installments as the directors of the said company by their by-laws or otherwise may direct; that such payment shall be made either in money or in land, and in case such payment shall be made in land, the value of said land shall be appraised by the board of directors; and that in case of failure of any stockholder to pay his or her installments at the place and within thirty days of the time appointed for the payment thereof, such stockholders shall incur a forteiture of his or her shares, and of all previous payments thereon, for the use of said company.

ferable

3. And be it enactea. That the capital stock of the said stock transcompany shall be deemed personal property; and the shares shall be transferable only on the books of the company, in such manner as the board of directors, by by-laws may direct; and every share shall entitle the holder to one vote, either in person or by proxy.

managed by a

tors.

4. And be it enacted, That the affairs of the company shall Business to he be managed by five directors, to be chosen by the stockholders board of direc of the said company annually, at such times and in such manner as the by laws of the company may direct, who shall serve for one year and until others are chosen in their stead; notice of which said election shall be previously given for two weeks in the newspapers published in the county of Camden, the said directors shall from time to time, elect a president from their num

First directors

May pay for lant pat chased in

shares of capital stock.

General pow

ers.

Proviso.

May Issue

and ispose of the same.

ber, and shall also elect and employ such other officers as may be convenient or necessary, who shall receive such compensation as the by-laws may direct.

5. And be it enacted, That Jesse Smith, Edward Cohn, Richard S. Humphreys, John Hood, Abraham W. Nash, Charles S. Humphreys, Jesse E. Huston, William B. Scudder and Alden C. Scovel shall be the first directors of said company, a majority of whom shall as soon as convenient after the passage of this act assemble and organize such company, and shall continue in office until others, as herein before directed, shall be chosen in their stead.

6. And be it enacted, That as soon as the said company shall be organized, it shall be authorized to receive conveyances for any property in the city of Camden, in this state, lying between the south line of Hartman street and the centre line of Pine street, and to purchase and hold such other land adjoining or near the same in said city which they may deem necessary for the improvement of their property, and to pay for all lands in the shares of their capital stock at not less than their par value.

7. And be it enacted, That the said company may improve all lands, and lands under water, that shall be purchased or held by them, by erecting buildings thereon and laying out said lands into blocks, lots, squares and streets or other divisions, and shall have liberty to fill up, raise, occupy, possess and enjoy as their own property all lands covered with water which they may hold or purchase, or which may lie in front of lands along any shore which they may hold or purchase, and may build, enlarge and improve on such lands any dock, wharf, pier, bulkhead, slip or other structure which they may deem necessary for commercial or other purposes, not extending the same south of the centre line of said Pine street; provided, that in carrying out the provisions of this section they shall not injure the navigation of the Delaware river, and shall not interfere with legal rights or privileges of others, or fill in or reclaim any lands under water except in front of the lands which they may purchase or hold along the shore.

8. And be it enacted, That for the purpose of improving Leds and sell their property, and to enable them to raise money to carry into effect the objects of this act, the said Camden Improvement Company are authorized to issue their bonds to the amount of twc-thirds of their capital paid in, bearing an interest not

« PreviousContinue »