capital. at such places as they, or a majority of them, may direct, giv ing notice thereof, at least twenty days prior to the opening of the books, by publishing the same in a newspaper printed in this state, and circulated in the said county of Monmouth. Amount of 2. And be it enacted, That the capital stock of said company shall be twenty-five thousand dollars, and shall consist of one thousand shares, of twenty-five dollars each; and that five dollars shall be paid on each share at the time of subscribing, and that the residue of such subscription shall be paid in such instalments, and at such times and places, and to such persons. as the president and directors of said company shall from time to time direct and give public notice of; provided, that no instalment to be called for shall exceed five dollars on each share; and provided also, that if the number of shares subscribed for shall exceed the number authorized by this act, the said commissioners shall apportion the said stock among the subscribers, in the proportion of the number of shares by them respectively subscribed. Proviso. Style of in- 3. And be it enacted, That as soon as the sum of five thoucorporation sand dollars shall be subscribed, the persons subscribing or and general holding the same shall be, and hereby are incorporated into a powers. company, by the name of "the Manasquan river and Barnegat bay Canal Company," and, by that name, shall become capable of purchasing and holding, or otherwise becoming possessed, and conveying real and personal estate; and shall have all other powers and privileges incident to a body corporate and politic, and necessary to carry into effect the purposes of this act; and as soon as the said five thousand dollars shall be subscribed, as aforesaid, it shall be the duty of the said commissioners, or the majority of them, or the survivors of them, to call a meeting of the subscribers, at such convenient place as they shall direct, giving at least twenty days' notice of the time and place of such meeting, in the manner herein directed with regard to opening the books, at which meeting the subscription books shall be laid before the stockholders who may be present, who shall proceed to elect by ballot, from Election of among the subscribers, five directors to manage the affairs of directors. said company, who shall hold their office for one year and until others are elected in their place, of which election the said commissioners shall be the judges; and at the expiration of one year, and annually thereafter, upon like notice, to be given by the directors for the time being, the said stockholders shall elect the same number of directors, who shall hold their office in manner aforesaid; and at every such election each stockholder may vote in person or by proxy, and shall have as many votes as he, she, or they have shares of stock; provided, no stockholder shall have more than ten votes. dent. 4. And be it enacted, That within twenty days after the Directors to first and every annual election of said company, the said di- elect presirectors shall choose one of their number as president of said company, who shall hold his office for one year, who shall preside at all meetings of the board of directors, a majority of whom shall always constitute a quorum for the transaction of business; and the said directors shall, also, within the time aforesaid, elect a treasurer of said company, who shall hold his office during the pleasure of the board, and who shall, before he enters upon the duties of his office, enter into bond to the said president and directors, with sufficient sureties, for the faithful performance of his office; and the said directors shall have power to supply all vacancies occasioned in the board, by death or otherwise, and, at every annual election after the first, to choose two discreet and impartial men as judges of said election. canal. 5. And be it enacted, That it shall be lawful for the said Company company, as soon as they are organized in manner aforesaid, to construct to construct a canal or artificial navigation from the Manasquan river to the head waters of Barnegat bay, in the township of Howell, from such point on said river to such point on said bay as the said commissioners shall deem most advantageous, and upon such line or route as the said commissioners may select; which, canal shall not exceed forty feet in width at the water line, and shall be of such depth as the said commissioners shall deem necessary, and for that purpose it shall be lawful for said company, by their president and directors, or any agent, engineer, or superintendent, or the said commissioners, to enter upon and explore any land lying between the points on said river and bay, the said commissioners may select, or adjacent thereto, doing no unnecessary damage; and when the route of said canal shall be fixed, it shall be lawful for said company, by their agents, engineers, contractors, or other persons, to enter upon and take possession of such lands as may be necessary for the construction of said canal, by first paying such compensation to the owner or owners thereof as is hereinafter directed. owners and gree. 6. And be it enacted, That when the said company or its Proceedagents cannot agree with the owner or owners of such re- ings in case quired lands, for the use or purchase thereof, and the dam- company ages sustained by them, or when such agreement cannot be cannot amade by reason of the absence or legal disability of such owner or owners, it shall be lawful for the president and directors of said company, or the owner or owners of such lands, to apply to any one of the judges of the court of common pleas of said county, who shall, on such application, appoint three disinterested commissioners, who shall, after giving Locks to be erected. Proviso. Company to erect bridges. notice to the parties concerned of the time and place of meeting, and taken an oath before the said judge of the said court faithfully to perform the duties of their appointment, proceed to examine the said lands, and appraise the value thereof, and the damages sustained by such owner or owners, and make report thereof, in writing, to the next subsequent term of the court of common pleas of said county; and the said company shall pay the costs of such application and report; and if either party shall be dissatisfied with such report, and shall signify the same to the said court, the said court shall forthwith direct a proper issue for the trial of such controversy, by jury empanelled for that purpose; and the said issue shall be set down for trial at the term next subsequent to the coming in of the said report; and the determination of such jury shall be final and conclusive; and if the sum, by them, be greater than that reported by the said commissioners, then the said company shall pay the costs of such trial, but if the sum found shall not exceed the sum reported, then the owner or owners shall pay the costs of such trial; provided, the said trial is had at the instance of such owner or owners; and if the trial is had at the instance of said company, and the sum found should not be less than that reported, then the said company shall be at the cost of the said trial, and if it be less than the sum so reported, the said owners shall pay the cost of such trial; and the said owner or owners shall be entitled to recover, by the judgment of the court upon such verdict, the amount so found by the jury against said company, upon the payment of which, the title to said lands shall forthwith vest in said company. 7. And be it enacted, That the said company shall erect, or cause to be erected, on said canal one or more good and substantial locks or tide-gates, which they shall maintain and keep in good repair, to stop the water from flowing through said canal, whenever they may think it necessary so to do; provided, that in case Manasquan inlet should at any time shut or close up, then it is hereby made the duty of said canal company to keep their gates or locks shut, so as to prevent the water from running through said canal into the bay, until said inlet shall be reopened. 8. And be it enacted, That it shall be the duty of the said company to construct and keep in repair good and sufficient. bridges over said canal, where any public road shall cross the same, so that the passage of carriages, horses, and cattle on said roads shall not be prevented; and the said company shall make and keep in repair all fences across the line of said canal, where the same now are and may hereafter be erected by the owner or owners of the adjacent lands. works. 9. And be it enacted, That if any person or persons shall Penalty for wilfully and maliciously injure said canal, its locks, gates, or injuring any other thing thereunto appertaining, or shall obstruct the navigation thereof, he, she, or they shall be liable to indictment, and fined and imprisoned, or both, at the discretion of the court, the fine not exceeding one hundred dollars, nor the imprisonment six months, and shall be liable also to make good all damages the company may sustain thereby. 10. And be it enacted, That, as soon as the said canal Rate of shall be completed, the said company are hereby authorized tolls. and empowered to demand and take a toll for passing through said canal, at the following rates, viz: For every steamboat, at a rate not exceeding twenty cents per ton. ton. For every sail vessel, at a rate not exceeding ten cents per For every scow or vessel without sails, at a rate not exceeding ten cents per ton. For every fish boat or skiff, twenty-five cents, each. ment. 11. And be it enacted, That if any person or persons shall Penalty for pass through said canal as aforesaid, without first paying the nonpaytoll, according to the rates aforesaid, he shall forfeit and pay to the said company a fine not exceeding forty dollars, to be sued for and recovered by action of debt, with costs, before any competent court. excessive toll, &c. 12. And be it enacted, That if any toll gatherer or agent, or Penalty for any person acting by the authority of said company, shall unnecessarily stop, hinder, or delay any boat, vessel, scow, or other craft that may navigate the same, or shall take more toll than by this act is authorized, he shall for every such offence forfeit and pay to the injured party the sum of forty dollars, to be recovered by action of debt, with costs, in any competent court, in the name and for the use of the injured party. 13. And be it enacted, That the president and directors of Dividends said company shall, as soon as the affairs of the company will to be made. admit, declare and make such dividend as they may deem prudent and proper of the net profits thereof, and shall, semiannually thereafter, if the affairs of the company will admit, declare such further dividends, and pay the same to the stockholders, in proportion to the amount of their respective shares, or, in case they fail to do so, assign their reasons to the stockholders in writing. 14. And be it enacted, That this act shall be deemed and Public act. taken as a public act, and as such taken notice of by all courts of justice in this state, without specially pleading the same. Time of 15. And be it enacted, That in case said company shall necompletion. glect to have said canal completed at the expiration of ten years from the date of the passage of this act, then this charter shall be annulled, and the title to the lands through which the said canal shall pass be revested in the person or persons from whom they were taken by concession or inquisition, as aforesaid, their heirs or assigns. Approved February 24, 1847. AN ACT to incorporate the Camden and Woodbury Railroad Preamble. WHEREAS, by an act of the legislature of the state of New Jersey, passed the first day of March, in the year of our Lord one thousand eight hundred and thirty-six, James Matlack, Joseph Ogden, and others, and their associates, were created a corporation, by the name of "the Camden and Woodbury Railroad and Transportation Company;" and, in and by the said act, the said corporation, among other things, were authorized to locate and construct a railroad from some point in the city of Camden to some point at the town of Woodbury, in the county of Gloucester; and whereas the said corporation did afterwards, according to the provisions of said act, locate and construct a railroad between the said two points, and put the same into operation, having first obtained the lands upon which the said road was located, according to the requirements of the said act; and whereas the said railroad, and all the lands upon which the same was located as aforesaid, with the appurtenances, hath since become vested in one Henry R. Campbell, who hath associated with him his brother, John D. Campbell, and they two have prayed that they and their associates may be incorporated into a company, with power and authority to reconstruct said railroad (now greatly dilapidated), and to extend the same from Woodbury aforesaid to Carpenters Landing, and from at or near its present terminus, in said city of Camden, to some other point in said city-now therefore, Names of 1. BE IT ENACTED by the Senate and General Assembly of corporators the State of New Jersey, That the said Henry R. Campbell and John D. Campbell, and such other persons as may be hereafter associated with them, shall be, and hereby are ordained, |