inconsistent with the provisions of this act be, and the same is hereby repealed.

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

Approved March 13, 1872.

CHAPTER CCXIII.

A Supplement to the act entitled "An Act to incorporate the Cape May and Millville Railroad Company," approved on the ninth day of March, eighteen hundred and sixty

three.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the Cape May and Millville Increase of Railroad Company, shall be, and hereby is, authorized to in- capital stock. crease its capital stock, in the discretion of its board of directors to any sum not exceeding one million dollars.

agreements

2. And be it enacted, That the said company and the May make West Jersey Railroad Company, whose roads are connected and contracts. at Millville, may, at any time or times hereafter, enter into or make any such agreements, contracts or arrangements for the consolidation of their capital stocks or property, or business; or to enter into or make such other arrangements for uniting, promoting and harmonizing their business, as their respective boards of directors, for the time being, may think proper.

3. And be it enacted, That so much of the fourth section Repealer. of the charter of the said Cape May and Millville Railroad Company as requires its annual election of directors to be held in either the county of Cumberland or the county of Cape May be, and the same is hereby repealed.

4. And be it enacted, That this act shall take effect immeidately.

Approved March 13, 1872.

Preamble.

May issue bonds.

applied.

CHAPTER CCXIV.

An Act to authorize the town of Newton, in Sussex county, to issue bonds.

WHEREAS, the people of the town of Newton, in the county of Sussex, in order to secure a railroad between that town and Franklin, in said county, agreed with the Sussex railroad company, in consideration that it would construct said railroad, to pay it twenty-five thousand dollars; and whereas, the said company have nearly completed the said railroad, and it is proposed as a means of raising the said money, and to afford time to meet the payment thereof, to issue the bonds of the town; therefore,

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the said town of Newton be authorized to issue the bonds of the said town to the amount of twenty-five thousand dollars, payable not more than twentyfive hundred dollars thereof in any one year, with interest at seven per centum, with interest coupons annexed, payable semi-annually, to be signed by the chairman of the town committee, and countersigned and registered by the town clerk. Proceeds, how 2. And be it enacted, That the said bonds shall be drawn payable to any individual or bearer, and shall be negotiable as promissory notes are, and when executed as aforesaid, they shall be deposited in the Merchants' National Bank of Newton for safe keeping; they shall be negotiated at not less than their par value, and the proceeds thereof placed to the credit of said town in said bank, and to be paid to said Sussex railroad company, in payment of said sum of money, when said railroad is completed, as received from time to time on the order of the chairman or any two of the town committee.

Yearly pay. ment.

3. And be it enacted, That the town committee shall have power and authority to provide by taxation for the payment of said bonds and interest thereon, and shall yearly and every year, cause to be assessed and collected, as other assessments are made and collected in said town, a sum of money sufficient to pay the said bonds and interest thereon,

as the same shall become due and payable, and the money so raised shall be applied exclusively to such purpose.

4. And be it enacted, That this act shall be taken to be a public act, and shall take effect immediately. Approved March 13, 1872.

CHAPTER CCXVI.

An Act to vest lands absolutely in the trustees of the Beverly School District, in the township of Beverly, in the county of Burlington, and to enable said trustees to convey and dispose of the same.

WHEREAS, William Marter, by deed of conveyance, bearing Preamble. date the thirtieth day of November, anno domini one thousand eight hundred and fourteen, conveyed to George Weigant, Jacob Adams and Thomas Marter, trustees to the Coopertown school house, and to their heirs and assigns, for the purpose of building a schoolhouse thereon, that certain lot of ground situate in the township of Willingborough, in the county of Burlington, bounded as follows, viz: beginning at a stone corner to a lot of Ashabel Jones, deceased, and to William Marter's land, and runs by the same, south thirty-eight degrees, east three chains and sixteen links to a stake in the middle of the road that leads from Burlington to Rancocas toll bridge; thence along the middle thereof, north fifty-two degrees and fifteen minutes, east one chain and thirty-two links to a stake, corner to said Jones; thence along said Jones' line, north twenty-eight degrees, west one chain and ninety-four links to another stake, corner to said Jones; thence by the same, north eighty-one degrees, west two chains and forty one links, to the place of beginning, containing one rood and twenty-eight perches of land, be the same more or less; and whereas, it is believed the words "heirs and assigns,' in the said deed, were incorporated therein, through inadvertence or defective conveyancing; and whereas, the said

lot has been since the date of the said deed, used for school purposes, and there is now thereon a building that has been at all times used as a school building; and whereas, the district heretofore known as the Coopertown school district, has been merged into and become a part of the Beverly school district; therefore,

1. BE IT ENACTED by the Senate and General Assembly of Title vested. the State of New Jersey, That the title to said lot of land

and premises be, and the same is hereby declared to be vested, in fee simple absolute, in the trustees of the Beverly school district, and their successors in office, of the township of Beverly, free, clear and discharged of, and from all and every, the trust, limitations and conditions, subject to which the same has been heretofore held, and with full power to May sell lot of convey and dispose of the same in fee simple absolute, to any person or persons whatever, by deed of conveyance, to be executed and attested by the said trustees in the usual manner, and the moneys arising from said sale shall be appropriated for school purposes in said township of Beverly and for no other purposes.

land.

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

Approved March 13, 1872.

Corporators.

Name.

CHAPTER CCXVIII.

An Act to incorporate the Stanhope Railroad Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That George Richards, Isaac B. Jolly, Edmund Canfield, William Allison, William Jackson, and such other persons as may hereafter be associated with them, shall be, and are hereby ordained, constituted and declared to be a body corporate and politic, in fact and in name, by the name of "The Stanhope Railroad Company," and by that name they and their successors and assigns shall and may have continual succession, and shall be persons in law,

capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended in all courts and places whatsoever, and shall have power to make and use a common seal, and the same at pleasure to alter; and they and their successors, by the same name and style, shall be capable of purchasing, holding and conveying any lands, tenements, goods and chattels whatsoever, necessary or expedient for the objects of this incorpo

ration.

2. And be it enacted, That the capital stock of said com-Capital stock. pany shall be three hundred thousand dollars, and shall be divided into shares of one hundred dollars each, but said company may increase the same to an amount not exceeding the cost of the railway and appurtenances which are hereinafter authorized; and the said capital stock shall be deemed personal property, and shall be transferable in such manner as the by-laws of the said company shall direct.

for stock.

rectors.

3. And be it enacted, That the above named persons, or a Subscriptions majority of them, may open books and procure subscriptions to the capital stock of the said company, at such time or times and place or places as they, or a majority of them, may think proper; and whenever there shall be one thousand shares of the said stock subscribed, the said corporators, or a majority of them, may give notice for a meeting of the subscribers, to choose nine directors; and such election shall be made at the Election of ditime and place appointed in the said notice, by such subscribers as shall attend for that purpose, either by lawful proxy or in person, each share of the capital stock entitling the holder thereof to one vote; and the above named corporators, or the majority of them, shall be inspectors of such election, and certify under their hands the names of those persons duly elected directors, and deliver over the subscription books to the said directors at the first meeting of the said directors; and the said directors so chosen as aforesaid shall, at their first meeting, or annually at the annual election of the said company, or as soon as may be after every such election, choose out of their own number a president; and in case of the death, resignation, or removal of the president or any di- Vacancy, how rector, such vacancy or vacancies may be filled for the remainder of the year wherein they may happen, by the said board of directors, or a majority of them; and in case of the absence of the president, the said board of directors, or a majority of them, may appoint a president pro tempore, who

filled.