Must file a statement of costs and exsecretary of penses with state. Who may ments, appendages, appliances, or other properties for the use and objects of said corporation, and to secure the payment thereof by bond, mortgage, pledge, trust or conditional sale on or of said bridge, lands, premises, material, structures, railways, boulevards, roadways, communications, franchises, apparatus and apparels, appendages, appurtenances, evidences of debt, securities and choses in action, or other real or personal property and appurtenances, but no such bond, mortgage, pledge, trust or conditional sale shall be made at a rate of interest exceeding seven per centum per annum, nor shall the same be used or disposed of at any rate less than eighty per centum of the par value thereof, without the consent, by a two-third vote, of the stockholders of said company; and any negotiation or transaction thereof at any rate of interest, discount or deduction, duly authorized and certified by such two-third vote, shall not be invalidated by the reason of the rate of interest, discount or deduction thus authorized, nor shall any person or corporation incur any penalty there for. 21. And be it enacted, That as soon as any railway or railways constructed by said company shall be finished, the president of said company shall file, under oath or affirmation, a statement of the amount of costs of the same, including all expenses therewith, in the office of the secretary of state, and annually thereafter he shall, under oath or affirmation, make a statement to the legislature of the state of the proceeds and expenses of such railway or railways, and from and after the same or any part thereof shall be in operation, and when and so long as the net proceeds shall be equal to seven per centum per year on the total cost thereof, the said corporation shall pay to the treasurer of this state a tax of one-half of one per centum on the actual capital stock invested in said railway or railways in the state of New Jersey, to be paid annually on the first Monday in January of each year, and such other state tax as may be assessed from time to time by a general law applicable to all railroads, over which the legislature shall have power for that purpose at the time of the passage of such law or laws. 22. And be it enacted, That the governor, the cuancellor, travel ee. the justices of the supreme court and of the court of errors of this state, and the attorney general, when travelling for the purpose of discharging the duties of their office, and the members of the legislature of this state during its annual or other sessions, may pass and repass over or upon said bridge, and the railways, roadways or other communications of said company, free of charge. jury done to machinery, 23. And be it enacted, That if any person or persons shall Penalty for inwilfully or maliciously do or cause to be done any act or acts bridge, work, whatsoever whereby said bridge, or any work, building, &c. structure, engine, machinery, railway, roadway, communication, approach, or other property or appurtenances thereof, or belonging to or under the control of said company, shall be destroyed, obstructed, weakened, injured or impaired, the person or persons so offending shall forfeit and pay therefor to the said corporation three times the damage sustained by such offence, to be recovered in the name of the corporation, with costs of suit, and shall be moreover guilty of a misdemeanor and be punished by fine and imprisonment, or either, by any court having cognizance thereof; and if any person or persons shall force, or attempt to force, or evade in passing any of the gates, enclosures or proper passages of said bridge, or of its approaches without having paid the established toll, or complying with the necessary regulations governing the use of the same, such person or persons shall forfeit and pay to said corporation five times the amount of legal toll, to be recovered in the manner aforesaid, and nothing in this section shall prevent any person or persons offending under this section from being otherwise liable or punishable according to law. principal of 24. And be it enacted, That said corporation shall possess Location of the general powers, and be subject to the restrictions and nice. liabilities contained in the act entitled "An Act concerning corporations," approved February fourteenth, eighteen hundred and forty-six, and the amendments thereto, so far as applicable and not inconsistent with this act, and shall hold its principal office in the county of Bergen. 25. And be it enacted, That if the bridge or any railway, Act, how boulevard, roadway or other communication hereby authorized shall not be commenced within five years and completed within ten years from the approval of this act, then this act shall become void as to so much of said bridge or any railway, roadway or communication as shall not be then completed and in use, and in case said company after the same or any part thereof shall be completed, shall abandon or cease to use the same or any part thereof, or fail to keep any part thereof in repair for the period of one year, then and in that Proviso. Proviso. Act may be repealed. case the franchises hereby granted to said company shall so far forth be annulled; provided, however, that if such abandonment or failure to use or repair shall be caused by the act of the state, or general government of the United States, or by public enemies during war, invasion, riot or insurrection, such forfeiture shall not inure for the period of such interruption, and one year thereafter; and further provided, that the said term of five or ten years shall not commence to run until a legal assent from the proper authorities in and for the state of New York shall be obtained, for the building of said bridge and carrying into effect the object of this act, by the company hereby incorporated, or until some company, association, person or persons duly authorized thereto by the state of New York, shall enter into an agreement or contract with the company or be connected and combined or consolidated herewith, and co-operate in the building of said bridge, and in the objects and purposes of this act. 26. And be it enacted, That the legislature may at any time, alter, amend or repeal this act. 27. And be it enacted, That this act shall take effect immediately. Approved April 9, 1868. May cross CHAPTER CCCLXXXIX. A Further Supplement to the act entitled "An Act to incorporate the Newark and Irvington Horse Car Railroad Company," approved March seventh, eighteen hundred and sixty-one. 1. BE IT ENACTED by the Senate and General Assembly o Fallroad track. the State of New Jersey, That the Newark and Irvington Horse Car Railroad Company are hereby authorized, in laying their track in the village of Irvington, to cross with their railroad track the railroad track of the Newark and Clinton Horse Car Railroad Company; provided, that in constructing such crossing place or places there shall be no unnecessary interference with the business of the last named company; Proviso. and the same shall be constructed with all practicable despatch and in the best practicable manner, and shall be constructed and maintained wholly at the expense of the said the Newark and Irvington Horse Car Railroad Company. 2. And be it enacted, That it shall and may be lawful for where railthe said the Newark and Irvington Horse Car Railroad Com-constructed. pany to lay and construct their railroad from the line of their road in Springfield avenue, in the township of Clinton, in the county of Essex, at the corner of Coe's avenue and said Springfield avenue, through said Coe's avenue and Tenth street, the continuation thereof in said city of Newark to South Orange avenue in said city, and thence along said last mentioned avenue to connect with the road of the Orange and Newark Horse Car Railroad Company, at or near Boston street in said city; provided, that the Newark and Irvington Proviso. Horse Car Railroad Company shall, before laying so much of the track by this section authorized as will lie in said township of Clinton, obtain permission from the township committee of said township to lay the track in the said highway known as Coe's avenue, and shall, before laying so much of said track by this section authorized as will be in the city of Newark, obtain permission so to do according to law from the proper municipal authorities of said city, and the owners of property along the route. 3. And be it enacted, That this act shall take effect immediately. Approved April 9, 1868. CHAPTER CCCXC. An Act to authorize certain Townships, Towns and Cities to issue Bonds, and to take the Bonds of the Montclair Railway Company. cepted. 1. Be it enacted by the Senate and General Assembly of Bloomfield the State of New Jersey, That on the application in writing township exof twelve or more freeholders, residents of any township, town or city along the routes of the Montclair Railway Company, or Commissioners empow row money. at the termini thereof (except the township of Bloomfield, in the county of Essex, which township is hereby excepted from the operations of all the provisions of this act), it shall be the duty of the judge of the circuit court of the county wherein such freeholders reside, within ten days after receiving such application, to appoint under his hand and seal not more than three freeholders, residents of such township, town or city, to be commissioners thereof to carry into effect the purposes and provisions of this act; said commissioners shall hold their offices respectively for the term of five years, and until others shall have been appointed. 2. And be it enacted, That it shall be lawful for said comered to bor missioners to borrow, on the faith and credit of their respective townships, towns or cities, such sums of money, not exceeding twenty per centum of the valuation of the real estate and landed property of such township, town or city, to be ascertained by the assessment rolls thereof, respectively, for the year eighteen hundred and sixty-seven, for a term not exceeding twenty-five years, at a rate of interest not exceeding seven per centum per annum, payable semi-annually, and to execute bonds therefor under their hands and seals respectively; the bonds so to be executed may be in such sums and payable at such times and places as the said commissioners and their successors may deem expedient; but no such debt shall be contracted, or bonds issued by said commissioners of or for either of said townships, towns or cities, until the written consent of persons owning or representing as agent or president at least two-thirds of the real estate and landed property of such township, town or city, borne on the last assessment roll thereof at the valuation thereon appearing, shall have been obtained; such consent shall state the amount of money authorized to be raised in such township, town or city, and that the same is to be invested in the bonds of the said railway company, and the signatures shall be proved by one or more of said commissioners; the fact that the persons signing such consent own or represent as aforesaid at least two-thirds of the taxable real and landed property of such township, town or city, shall be proved by the affidavit of the assessor of such township, town or city, indorsed upon or annexed to such written consent; and the assessor of such township, town or city, is hereby required to perform such service; such consent and affidavit shall be filed in the office of the clerk of the county in which such township, town or city is situated, and |