CHAPTER XVI. An Act to incorporate the Rake Pond Cranberry Company. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Joseph J. White, Benjamin Corporators. Ridgway, James S Hulme, Eayre Oliphant, and William Parry, and all such persons as may hereafter be associated with them, their successors and assigns, be and they are hereby constituted a body politic and corporate, in fact and in law, by the name of "The Rake Pond Cranberry Com- Name and pany," for the purpose of buying, holding, cultivating and powers. improving lands in the county of Burlington, and for raising and selling cranberries and other fruit, and other produce of said lands, and carrying on the business connected therewith, and erecting such buildings and holding such personal property as may be necessary therefor, and that they and their successors, by the same name, may sell, grant, alien, mortgage and dispose of said lands, tenements and hereditaments, cranberries, produce, fruits, goods and chattels, or any part thereof. 2. And be it enacted, That the capital stock of said com- Capital stock. pany shall be twenty-five thousand dollars, with the privilege. of increasing the same to one hundred thousand dollars, which shall be divided into shares of fifty dollars each, and the said corporation may issue stock in payment therefor, and the subscriptions for stock shall be opened in the town of Mount Holly, in the county of Burlington, at such time as the directors may designate, under their direction or that of such persons as a majority of them may select. 3. And be it enacted, That the affairs of said corporation Affairs, how shall be managed by a board of five directors, one of whom managed. shall be president, and a majority of whom shall have all the power of the board, and they shall hold their office for one year, and until others are selected in their stead, and shall have power to make by-laws for the government and management of said corporation, and shall hold their meetings at such time and places in this state, as the by-laws may provide; and that until an election for directors shall be Stock, how transferable. held, the persons named in the first section of this act shall be directors. 4. And be it enacted, That the stock of said corporation shall be deemed personal estate, and shall be transferable in such manner as the by-laws may prescribe. 5. And be it enacted, That this act shall take effect immediately. Approved February 7, 1872. Charter extended. CHAPTER XVII. A Supplement to an act entitled "An Act to incorporate the 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the charter of the said "Bordentown Female College" shall be extended for twenty years after the time limited in the original act of incorporation. Approved February 7, 1872. Preamble. CHAPTER XVIII. A Supplement to an act entitled "An Act to incorporate the West Hunterdon Railroad Company," approved March seventeenth, one thousand eight hundred and seventy. WHEREAS, through inadvertence, the state assessment on the act to which this is a supplement, was not paid within the time required by the act entitled "An Act to increase the revenues of the state of New Jersey," by which inadvertence and non-payment of said state assessment, the said act became void; and whereas, it is desirable that said act should be revived; therefore, 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the act entitled "An Act to Act revived. incorporate the West Hunterdon Railroad Company," approved March seventeenth, one thousand eight hundred and seventy, be and the same is hereby revived, and shall stand in full force and effect, the same as if the state assessment required to be paid by the act entitled "An Act to increase the revenues of the state of New Jersey," had been paid within the time prescribed by law; provided, that the state Proviso. assessment on the said original act of incorporation, and on this supplement be paid before the first day of July next ensuing the passage of this supplement. 2. And be it enacted, That this act shall take effect immediately. Approved February 7, 1872. CHAPTER XIX. A Further Supplement to the act entitled "An Act to incorporate the Dime Savings Bank of the City of New Brunswick, New Jersey," approved February seventh, one thousand eight hundred and seventy-one. with borrow taxes. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That it shall and may be lawful for May contract the said "Dime Savings Bank," and the borrowers or lenders ers to pay all of any money secured by mortgage or other security upon personal or real estate, to enter into a contract or agreement whereby the borrower shall pay any part or all of national, state, county or city taxes which may be assessed upon the money so lent, or to be loaned, and the securities for the payment thereof; and all such contracts and agreements are hereby made and declared to be valid and effectual in law, and no such mortgage or other security shall be held, deemed or taken in any court of this state to be usurious or invali Money, how to be invested. Proviso. Proviso. dated by reason of any such contracts or agreements, anything in any existing law of this state, to the contrary, notwithstanding. 2. And be it enacted, That the said corporation may invest the money left with them on deposit in no other public stocks or bonds other than such as are created and issued by the United States, and by the several states of the Union, or by the several counties, cities or towns in this state, or by the cities of New York and Brooklyn, of the state of New York, under the laws thereof; nor on bond and mortgage, except on unencumbered real estate worth at least double the amount invested; provided, said corporation may make temporary loans upon personal securities, with the pledge of collateral securities, at least double the amount loaned; provided, said loan shall at no time exceed twenty per centum of the whole amount of assets. 3. And be it enacted, That this act shall take effect immediately. Approved February 8, 1872. CHAPTER XX. A Supplement to the act entitled "An Act to incorporate the Monmouth County Agricultural Railroad Company." 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That section seventeen, of the act to which this is a supplement, be so amended as to read as folAmendment. lows, to wit: "And be it enacted, That the said corporation shall have power to borrow such sum or sums of money from time to time as shall be necessary to build, construct or repair said road, and furnish the said corporation with all the necessary engines, machinery, boats and other personal property for the uses and objects of the said company, and to secure the payment thereof by bond or mortgage, or otherwise, on the road, lands, privileges, franchises and appurtenances of or belonging to said corporation." change 2. And be it enacted, That the said company shall have rower to power to change the route of said road as the same is at route, present or may hereafter be located and filed; provided. Proviso. however, that no such change shall affect the termini of said road as named in the charter, nor shall such change depart more than one mile from the line of the location first filed; and any such change shall be filed in the office of the secretary of state in connection with the original location. 3. And be it enacted, That this act shall take effect immediately. Approved February 8, 1872. CHAPTER XXI. An act to incorporate the Star Rubber Company. powers. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Philip P. Dunn, Charles L. Corporators. Pearson, Thomas Clymer, William W. Ward and James H. Bruere, and their associates and successors, be and they are hereby created a body politic and corporate, by the name of "The Star Rubber Company," for the purpose of making and Name and manufacturing india rubber goods, in the county of Mercer, in this state, and shall have power to manufacture and deal in all goods and articles of merchandise whatsoever, which may or can be made wholly or in part of india rubber, and to engage in, and carry on, all business incident thereto; and may purchase and acquire, have, hold, use and enjoy all real and personal estate, mills, buildings, factories, stores, machinery and other property whatsoever, which they may deem necessary or useful for the purposes aforesaid, and may sell, lease, mortgage or otherwise dispose of the same, or any part thereof, as they may deem most for the interest and benefit of the said corportion. 2. And be it enacted, That the capital stock of the said Capita stock corporation shall be one hundred thousand dollars, to be di vided into shares of fifty dollars each, with power in said cor |