CHAPTER XL. An act to incorporate the Clergymen's Retiring Fund Society. corporators 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Richard M. Abercrombie, Wil- Names of liam H. Carter, William R. Nicholson, William G. Farrington, J. Nicholas Stansbury, Joseph H. Smith, William W. Holley, John F. Butterworth and Hannibal Goodwin, clergymen of the Protestant Episcopal Church in the United States of America, and all such persons as may be hereafter associated with them, and their successors, shall be and they are hereby constituted a body corporate and politic, in fact and in name, by the name of the "Clergymen's Retiring corporate Fund Society." name. 2. And be it enacted, That the said corporation shall have Powers an all the rights, powers and privileges contained in the two privileges. acts, one entitled "An act concerning corporations," approved February fourteenth, one thousand eight hundred and forty-six, and the other "An act to incorporate benevolent and charitable associations," approved March ninth, one thousand eight hundred and fifty-three, and in the supplements to the said two acts; provided, that the restriction as to income, mentioned in section three of the last named act, shall not apply to this corporation. use, &c., and be 3. And be it enacted, That, in addition to the dues of the May remembers of the society, this corporation shall have power ceive. hold, to receive, hold, use and disburse donations, legacies and be- legacies' quests, within the provisions of its by-laws; provided, how-quests. ever, that such use and disbursement shall be confined to Proviso. carrying out the declared object of this association, and shall be in full compliance with the will of any donor, devisor or testator, who shall make this corporation his or her agent for the execution of any trust. 4. And be it enacted, That the object of this corporation object of is hereby declared to be the assurance of relief to the cler- corporation gymen of the Protestant Episcopal Church, whose ad Manage fairs in whom vested. vanced years have a claim on the support of the church, and who may sympathize and co-operate with this corporation. 5. And be it enacted, That the management of the affairs ment of af- and business of the said corporation shall be and is hereby vested in a board of nine trustees, who shall be clergymen of the said church, and may elect such officers as are necessary for the proper transaction of the business of the corporation; provided, that the corporators named in the first section of this act shall constitute the first board of trustees, until others are chosen in their stead. Proviso. Trustees how elected 6. And be it enacted, That the trustees shall be chosen by ballot, at a meeting of the members to be held annually, on the third Thursday in October. 7. And be it enacted, That this act shall take effect immediately. Approved February 17, 1874. Names of CHAPTER XLII. An act to incorporate the "Camden City Fertilizer and 66 1. BE IT ENACTED by the Senate and General Assembly of the corporators State of New Jersey, That Daniel L. Pine, George Campbell, M. E. Harden, Jacob C. Daulmann, M. V. Bergen, William H. Cole and Joseph C. Nichols and such others as may be associated with them, and their successors are hereby declared to be a body politic and corporate by the name Corporate of the Camden City Fertilizer and Utilization Company." 2. And be it enacted, That the amount of the capital stock of said company shall be ten thousand dollars, with the priv ilege of increasing the same to fifty thousand dollars to be divided into shares of fifty dollars each to be deemed personal property and to be transferable only on the books of this corporation. name. Capital stock. Commis sioners to receive 3. And be it enacted, That the above named persons or a majority of them shall be commisssioners to receive sub tions. scriptions to the capital stock aforesaid, at such time or subscriptimes, place or places in this state, and upon such notice as they or a majority of them shall think proper; and at the time of subscribing for said stock five dollars on each share shall be paid to said commissioners or shall be satisfactorily secured, and the residue of the subscription shall be paid in such installments and at such times and places, and to such persons as the directors of said company shall from time to time direct, by giving three weeks' notice in some public newspaper printed and circulating in this state of the installment to be paid in and the time and place of payment, and by mailing a copy of said newspaper containing such notice, postage prepaid, with such notice plainly marked, directed to each stockholder at his place of residence as entered in the books of said company, at least ten days before the time of payment; and upon failure on the part of any stockholder to pay such installment the directors shall have power to sell the said stock upon like notice as aforesaid, and after deducting from the proceeds of such sale, the amount of such unpaid installment and all expenses and charges due upon said stock, shall pay the surplus if any there be to the delinquent holders of said stock. directors 4. And be it enacted, That whenever two thousand dol- Election of lars of the aforesaid capital stock shall have been sub- when to be scribed, such commissioners shall as soon as they deem it held. expedient give like notice of a meeting of the stockholders at such time and place as they may designate, to choose five directors, who shall hold their office for one year, and until others are duly qualified, and such election shall be made at the time and place appointed by such of the stockholders as shall attend for that purpose, either in person or by proxy, each share of the capital stock entitling the holder thereof to one vote, and the directors chosen at such meeting or at the annual election of said corporation, shall as soon as may be after every election choose out of their own number a president, and the said board of directors shall have power to elect a secretary and treasurer for the said Powers and company, to serve for one year and until a successor or successors shall be chosen by the said board; and said directors shall have power if they see fit to elect a superintendent, who shall hold his office for one year, and until a successor shall be appointed, and in the case of the death, resignation or removal of the president, secretary, treasurer, super duties. Treasurer to give bond. Company may pur cles, &c. intendent or any director, such vacancy or vacancies may be filled for the remainder of the current year by the said board of directors; and the said board of directors shall have power to borrow money in the corporate name of the said company, for the purpose of carrying on the business contemplated in this act, and issue the bonds of the said company as security for the payment of said borrowed money. 5. And be it enacted, That the treasurer of said company shall give bond with sufficient security, to be approved by the said directors in the sum of ten thousand dollars. 6. And be it enacted, That the said company when organchase vehi-ized as aforesaid, shall be and they are hereby authorized to purchase vehicles and the necessary appurtenances for the cleaning of cesspools; removal of garbage, and the cleaning of the streets in said city of Camden, and also to purchase land for the purpose of erecting works for the utilizing of said garbage, and so forth. 7. And be it enacted, That this act shall take effect immediately. Approved February 17, 1874. Corporate name. Capital stock. CHAPTER XLIV. An act to incorporate the Bennett Mills. 1. Be it enacted by the Senate and General Assembly of the State of New Jersey, That all persons who shall become subscribers to the capital stock hereinafter mentioned their successors and assigns, shall be and they are hereby created and made a corporation and body politic, in fact and in law, by the name of "The Bennett Mills." 2. And be it enacted, That the capital stock of said corporation shall consist of fifteen thousand shares of the par value of one hundred dollars per share, which shall be transferred in such manner as the said corporation shall direct. 3. And be it enacted, That Samuel W. Torrey and Bradbury C. Chetwood, be and they are hereby appointed comopen books missioners to receive subscriptions to the capital stock of Names of commis sioners to subscrip such corporation, and they or either of them shall open and receive books of subscription to such stock, at the city of Passaic, scrip in the county of Passaic, at sich time and place as they or either of them shall appoint, and shall attend and receive subscriptions. for direc 4. And be it enacted, That whenever the capital stock of Election said corporation to the amount of two hundred and fifty tors when thousand dollars shall be subscribed, and twenty per centum to be held. thereof paid in, the said commissioners or whichever opens the books, shall close the same and hold an election for directors of said corporation, first giving notice thereof one week previously, and in a newspaper published in Passaic county, that three directors shall be elected by ballot at such election by the stockholders, each of whom shall have at such election and all subsequent elections one vote for every share of stock owned by him; that said three directors shall constitute the first board of directors, and the same number or such number as the corporation may by its by-laws appoint, shall constitute all subsequent boards, and in case of a vacancy occurring in the board between the elections, the remaining directors shall have power to fill the vacancy; that said directors shall hold their office for one year, and until their successors shall be elected. 5. And be it enacted, That the directors shall have power Directors to elect out of their body a president for such term, and in such manner as they shall appoint. empowered to elect president. deliver sub books to when elect 6. And be it enacted, That said commissioners shall deliv- commiser to the said board of directors when elected, the sub- sioners to scription books of said corporation and all moneys received scription by them for such subscriptions, and said directors shall by directors their by-laws appoint an annual election for directors, but ed. in case of failure to hold such election upon the appointed day, said corporation shall not hereby be dissolved, but said election shall be held on some subsequent day, and the directors in office shall continue until such election. directors subscrip assess 7. And be it enacted, That the said board of directors shall Board of have power to demand from the subscribers to the capital empowered. stock of said corporation the money for such subscriptions bripand for any increase of its capital or any assessment there- tions and upon, and in case of the failure to pay subscriptions, calls ments. or assessments, at such time as they may appoint, at least thirty days' notice shall be given to said stockholders to pay said subscription, then the said board may after two weeks' |