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4. And be it enacted, That this act shall be deemed a public act, and shall take effect immediately. Approved March 24, 1874.

CHAPTER CCCLXXXV.

An act to incorporate the Shillinger Artificial Stone Company.

corporators

name.

1. Be it enacted by the Senate and General Assembly of the State of New Jersey, That Edwin Hedden, Frederick Aherns, Names of George M. Treat, Franz Haefeli and Joshua H. Martin, and such persons as may become associated with them, and their successors, are hereby created a body politic and corporate, in fact and in law, under and by the name of the Shillinger Corporate Artificial Stone Company, and by that name shall be capable of purchasing, acquiring, holding, using, conveying and disposing of all such real and personal estate as may be necessary for carrying out the objects of the incorporation, or which may be transferred to them for the payment of any debt; and that their principal office shall be located in the city of Newark, in the county of Essex.

ed to carry

grading,&c.

2. And be it enacted, That said company shall be author- Empowerized to carry on the business of grading and draining lands, on busiand of sewering, curbing and flagging streets and roads, ness of and of paving and macadamizing streets and roads with stone, concrete and other materials; to enter into and make contracts for such grading, draining, sewering, curbing, flagging, paving and macadamizing; to manufacture, purchase and lay patent or other pavements; to buy, use or sell patents or patent rights for any process or processes connected therewith, and to transact all business in relation thereto.

3. And be it enacted, That the capital stock of said com- Capital pany shall be fifty thousand dollars with the privilege of in-stock. creasing the same to one hundred thousand dollars, divided into shares of one hundred dollars each, which stock shall be personal property and shall be transferable only upon

Affairs of corporation by whom

the books of the company in accordance with its by-laws and that said company may organize for the transaction of business as soon as fifteen per centum of the capital stock shall have been subscribed and paid in.

4. And be it enacted, That the affairs of said company shall be conducted by not less than three or more than five conducted. directors, who shall be stockholders, and of whom a majority shall constitute a quorum; that the first board of directors shall be elected by the stockholders, and by a plurality of votes, as soon as may be after the said sum of seven thousand five hundred dollars of capital stock shall have been paid in, and afterwards on the second Monday in January in each year, in accordance with the by-laws; but that said corporation shall not abate because of any failure to elect such directors as aforesaid, and that any vacancy may be filled by the remainder of the board for the unexpired

empowered

te take

property, &c.

term.

Directors 5. And be it enacted, That the said directors shall have power to take, in behalf of the company, any property suit. able for the purposes of said company at a valuation to be agreed upon and in lieu of cash subscriptions; and also to open books of subscription from time to time until the whole capital stock shall be taken, and to require payment of all subscriptions to said capital stock by installments and under such forfeiture or forfeitures as they may deem expedient.

May alter and repeal

6. And be it enacted, That the said directors may pass, alby-laws,&c. ter and repeal all such by-laws and may appoint and remove all such officers or agents as they might think proper or necessary for carrying out the objects of the incorporation; provided, that such by-laws shall not conflict with any law or laws of this state.

Proviso.

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7. And be it enacted, That the said directors shall likewise have power to declare and pay dividends out of and from the earnings or profits of said business.

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

Approved March 24, 1874.

CHAPTER CCCLXXXVI.

A further supplement to the act entitled "An act to incorporate the Barnegat Railroad Company," approved March twenty-second, eighteen hundred and sixty-six.

ed to sub

stock and

bonds of

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That it may and shall be lawful for the Empowerpresident and directors of the company authorized by the scribe to act entitled "An act to incorporate the Barnegat Railroad endorse Company," approved March twenty-second, eighteen hun- certain dred and sixty-six, and the several supplements thereto, to railroads. subscribe to the stock and endorse the bonds of any railroad now built, or hereafter to be built in the counties of Ocean and Burlington.

statute

2. And be it enacted, That it shall not be lawful for the when not said corporation to plead any statute or statutes of this state to plead against usury in any court of law or equity in any suit in. against stituted to enforce the payment of any bond or mortgage, executed under this act issued or to be issued by said corporation.

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

Approved March 24, 1874.

usury.

make as

CHAPTER CCCLXXXVIII.

An act authorizing the Bordentown Cemetery Association to assess the owners of lots therein, for the purpose of keeping the walks and grounds in order.

1. BE IT ENACTED by the Senate and General Assembly of the Trustees to State of New Jersey, That it shall be lawful for the trustees of the Bordentown Cemetery Association and their sucon lot own-cessors in office, to assess hereafter annually upon the respec

sessment

ers, &c.

Penalty if

assessment

certain

time.

tive owners of lots in said cemetery, a sum not exceeding one dollar for each lot, in proportion to the value thereof, the proceeds to be appropriated exclusively for the purpose of keeping the walks and grounds of said association in good repair.

2. And be it enacted, That if any lot owner shall neglect not paid in or refuse to pay such assessment for one year he shall pay twelve per centum interest thereon additional, until paid, and shall not be permitted, nor receive a permit from the secretary or any other officer of said association, to break ground or bury therein, until all such assessments made against him, with interest, are paid, unless otherwise ordered by the trustees of said association.

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

Approved March 25, 1874.

CHAPTER CCCXCVIII.

Names of
Corporators

An act to incorporate the Hoboken Ship Canal Company. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Henry Gaede, C. F. Staples, Otto F. Wegener, Lorenzo W. Elder, Rees Price Francis, Hermann H. Luhrs, L. J. Stiastny, Frederick B. Ogden and Bernard McCloskey, and all persons that may be hereafter appointed with them, and their successors and assigns, shall be, and they are hereby constituted a body corporate in fact and in law, by the name and style of the Hoboken Ship Canal name. Company, and may acquire and hold all real and personal property, and do all other acts and things as may be necessary for the objects of this incorporation.

Corporate

stock.

2. And be it enacted, That the capital stock of the said Capital company shall be five hundred thousand dollars, with the privilege to increase the same from time to time, not to exceed one million of dollars, and shall be divided into shares of one hundred dollars each, which shall be deemed personal property and shall be subscribed and paid, or forfeited and transferable in such manner as the by-laws of such corporation shall direct.

of company

3. And be it enacted, That the stock, capital, property, con- Affairs cerns and affairs of the said company shall be managed and by whom conducted by a board of nine directors, a majority of whom managed. shall be residents of this state, all of whom shall be stockholders and one of whom shall be president, who shall hold their offices for one year or until others are elected in their place; and that said directors shall be chosen by the stockholders annually at such time and place and in such manner and upon such notice as shall be directed by the bylaws of said corporation; and in case such election of directors shall not be held at the appointed time, the corporation shall not, for that cause, be deemed dissolved, but such election may be held at any other time on the usual notice, and the officers and directors for the time being

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