Directors how elected.

Annual statement.

Commission. ers to open

scription.

entitle the bona fide owner thereof to one vote at all meetings of the stockholders, which may be given either by proxy or in person.

3. And be it enacted, That no part of the said capital stock shall at any time, or in any manner, or under any pretence whatever, be drawn from the legitimate business of the said corporation, or refunded to the stockholders until all the debts and liabilities of said corporation are fully paid.

4. And be it enacted, That the directors shall be elected from among the stockholders, in such manner as the by-laws of said corporation shall prescribe, and shall not be less than five in number, and shall, with all other officers of said corporation, hold their offices until others are elected and duly qualified in their stead.

5. And be it enacted, That the whole amount of debts which the said corporation shall at any one time owe, shall not exceed the amount of the capital stock subscribed for.

6 And be it enacted, That annually, in the month of October, the directors of sai corporation shall submit to the stockholders thereof a written statement of the affairs of the same, verified by the affidavit of the acting president of said corporation, and no dividend shall be paid to the stockholders except, from a clear surplus in hand, over and above the full amount of the debts and liabilities of said corporation.

7. And be it enacted, That William W. Marsh, Theodore books of sub- Little, William Dellicker, John Marsh and Joseph Heath, or a majority of them, are hereby constituted commissioners to open books and take subscriptions for the said capital stock, in such manner as they may deem expedient, at such time and place as they shall designate, by notice thereof in writing, published for at least two weeks previously thereto in one of the newspapers of the said county of Morris; and whenever the said subscriptions amount to at least fifty thousand dollars, the stockholders representing the same may convene upon the call of the said commissioners, or a majority of them, and elect such officers and directors, and make such by-laws, as they may deem necessary for conducting the affairs of said corporation; and the remainder of the stock, if any, shall be disposed of under the direction of said officers and directors, or their successors in office.

Approved February 18, 1868.

CHAPTER XXII.

An Act to incorporate the German Turnverein of the town of. Orange, Essex county.

1. BE IT ENACTED by the Senate and General Assembly of Corporators. the State of New Jersey, That Sebastin Trabold, Augustus Schwalm, Jacob Reinhardt, Maximilian Trabold, Frank Ferg, Peter Moore, Charles Jaeger, Louis Marshner, George Senning, John Wagner, Augustus Bauscher and John Lohrman, and such other persons as now are, or hereafter shall become members of the German Turnverein of Orange, are hereby Name. constituted a body corporate by the name aforesaid.

2. And be it enacted, That the object of this society shall object. be the improvement of mental, physical, and corporal education.

3. And be it enacted, That the said corporation shall have power to prescribe admission and expulsion of its members, and for the election, time of service, and duties of its officers. 4. And be it enacted, That the said corporation may pur- May purchase chase and hold real and personal estate for their use and benefit, the annual income of which shall not at any time. exceed five thousand dollars.

5. And be it enacted, That the said corporation shall possess all the powers and privileges, and be subject to all the restrictions and liabilities contained in the act entitled "An Act concerning Corporations," passed and approved February the fourteenth, one thousand eight hundred and forty-six, and the various supplements.

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

Approved February 18, 1868.

and hold real estate.

Corporators

Name.

Capital stock.

Corporators to open books of

CHAPTER XXIII.

An Act to incorporate the Rahway Wood Works.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That David Crowell, Joseph T. Crowell, J. Henry Stone, John C. Coddington and Orrin Van Derhoven, and such other persons as may be associated with them, their successors and assigns, be and they are hereby created a body corporate and politic, in fact and in law, by the name of "The Rahway Wood Works," for the purpose of purchasing, manufacturing, and selling lumber, timber and plain and ornamental wood work, and articles required for the construction of buildings, carriages and other vehicles, and for erecting buildings and dealing in the materials necessary therefor; and for said purposes may purchase and hold such real estate and personal property as may be deemed needful or advantageous to carry on said works, and for securing debts that may become due to said corporation, and may sell, mortgage, lease, or otherwise dispose of the same, together with all the powers and privileges, and subject to such restrictions as are specified in the act entitled "An Act concerning corporations," approved February fourteenth, eighteen hundred and forty-six, and the act entitled "An Act concerning manufacturing corporations, approved March twenty-seventh, eighteen hundred and sixty-one, and the various supplements thereto, except as otherwise granted in and by this act of incorporation; and this act shall continue in force for the term of thirty years.

2. And be it enacted, That the capital stock of said corporation shall be one hundred thousand dollars, with power to increase the same to two hundred thousand dollars, to be divided into shares of fifty dollars each.

3. And be it enacted, That the corporators above named, Subscription. Or a majority of them, may open books to receive subscriptions to the capital stock of said corporation, at such time and place, within the city of Rahway, as they may deem proper, giving at least one week's notice thereof in one or more newspapers published in said city; and that as soon as five hundred shares of said stock is subscribed, and ten per centum thereof paid, the said corporators, or a majority of

them, shall, by like notice, call the first meeting of the stockholders for the purpose of organizing the said corporation and electing directors.

how elected.

4. And be it enacted, That said directors shall consist of Directors, and five persons, who shall manage the affairs of said corporation, a majority of whom shall be residents of this state, and one of whom shall be president; such directors shall hold their office for one year, and until others are elected in their stead; and an election for directors shall be held yearly, at such time and place, and upon such notice, as the by-laws may direct, at which election each stockholder shall be entitled to one vote, either in person or by proxy, for every share of stock by him or her respectively owned; and all vacancies in the board of directors may be filled for the unexpired term by appointment to be made by the remaining directors.

how trans

5. And be it enacted, That the stock of said corporation Stock, and shall be deemed personal estate, and shall be transferred in terred. such manner as the by-laws may prescribe; and the directors shall be authorized to call in the subscriptions to the capital stock of said company, by such installments, and at such times as they may direct; and in case of the non-payment of said installments, or any of them, within thirty days next after the day fixed for that purpose, by public notice previously published in one or more newspapers printed in the city. of Rahway, they shall have power to forfeit such share or shares upon which such default shall arise, to and for the use of said corporation.

6. And be it enacted, That regular books of account shall be kept in the office of said corporation; and no dividends. shall be declared except from the net profits of the corporation and it shall be lawful for the said corporation to grant certificates of shares in full or in part payment for the estate, rights, or property that may be purchased.

elect iirectors

7. And be it enacted, That in case it shall happen that an Fatture to election of directors should not be made during the day when, not to dissolve pursuant to the by-laws, it ought to be made, the said ration shall not for that cause be deemed to be dissolved, but such election may be held at any other time, and the directors for the time being shall continue to hold their offices until others shall have been chosen in their places.

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

Approved February 18, 1868.

Preamble.

Confirming

missioner.

CHAPTER XXIV.

An Act to confirm the acknowledgments and proofs of deeds and other instruments of writing taken by Hiram C. Clark.

WHEREAS, it appears to the legislature that Hiram C. Clark was duly appointed on the fifth day of March, in the year eighteen hundred and sixty two, one of the commissioners to take the acknowledgments and proofs of deeds for the county of Sussex, and state of New Jersey, and was commissioned and sworn into office by virtue of said commission; and whereas, it appears that the same Hiram C. Clark, from a misapprehension of the time of expiration of his commission, continued to take ackowledgments and proofs after the time for which he was appointed had expired, by reason of which defective acknowledgments and proofs innocent persons may be subject to great loss; therefore,

1. BE IT ENACTED by the Senate and General Assembly of acts of col the State of New Jersey, That the several acknowledgments and proofs of deeds and other instruments of writing taken and certified by the same Hiram C. Clark, as commissioner, after the expiration of the time for which he was commissioned, be and the same are hereby confirmed and declared valid and effectual in like manner as though the same had been taken and certified by him before the expiration of the time for which he was appointed.

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

Approved February 18, 1868.

Corporators.

CHAPTER XXV.

An Act to incorporate the Masonic Temple Association of
Millville.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Elijah B. Richmond, John L.