CHAPTER CLXVI.

A Further Supplement to "An Act to incorporate the Newton Presbyterial Academy," approved February twelfth, eighteen hundred and fifty-two.

1. BE IT ENACTED by the Senate and General Assembly of Repeater. the State of New Jersey, That so much of the said act of incorporation as places the academy thereby incorporated, (and which academy is now known by the corporate name of "The Newton Collegiate Institute,") under the control or supervision of the presbytery of Newton, be and the same is hereby repealed.

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

Approved March 8, 1870.

CHAPTER CLXVII.

An Act to incorporate the Morris County Ice Company.

1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Henry M. Johnson, John S. porators. Pollard, Henry Boughton, Caleb Tuttle, Josiah Fairchild, Benjamin P. Fairchild and such other persons as may hereafter be associated with them, be and they are hereby ordained, constituted and declared a body politic and corporate, in fact and in law, by the name of the "Morris County Ice Corporate Company," and shall be capable of purchasing, holding and conveying any lands, tenements, goods and chattels necessary or proper for the objects of this corporation.

name.

2. And be it enacted, That the capital stock of the said Amount of company shall be fifty thousand dollars, with liberty to the

capital stock.

Commission

ers to open subscription books.

rectors.

company to increase the same to one hundred and fifty thousand dollars, and shall be divided into shares of fifty dollars each, which shall be deemed personal property and transferable in such manner as the said corporation shall by their by-laws direct.

3. And be it enacted, That the above named persons, or a majority of them, shall be commissioners to open books to receive subscriptions to the capital stock of said company, at such time or times, and place or places as they or a majority of them may deem proper, and at the time of subscribing for said stock, such percentage shall be paid upon the amount subscribed for, to the said commissioners or some one of them as the said commissioners or a majority of them may think proper, and as soon as the sum of ten thousand dollars of the capital stock is subscribed for, such commissioners or a majority of them shall call a meeting of the stockholders to Election of di- choose seven directors, and such election shall be made 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 said commissioners, or any three of them, shall be inspectors of said first election of directors of said corporation, and shall certify under their hands the names of those persons duly elected, and deliver over the subscription books and money paid in after deducting all expenses previously incurred and a reasonable compensation for their services, to the said directors; and the time and place of holding the first meeting of said directors shall be fixed by the said persons named in the first section of this act, or a majority of them, and the directors chosen at such a 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, who shall be a resident of this state, and in case of the death, resignation or removal of the president or director, such vacancy or vacancies may be filled for the remainder of the year in which 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 shall have such power and functions as the by-laws of the said corporation shall provide.

Not dissolved on failure to

4. And be it enacted, That the directors of the said corelect directors poration shall be seven; and in case it shall happen that an election of directors should not be made during the day when

pursuant to the by-laws of said company it ought to have been made, the said corporation shall not for that cause be deemed to be dissolved, but such election may be held at any other time, on giving at least twenty days notice in one or more newspapers published in the county of Morris, and the directors for the time being shall continue to hold their offices until others shall have been chosen in their places.

installments.

5. And be it enacted, That a majority of the directors of the Payment of said company shall be competent to transact all business of said corporation, and shall have power to call in the stock of said company, by such installments, and at such times, as they may direct, by giving thirty days previous notice in a newspaper published in the county of Morris; provided, that Proviso. no installment shall exceed ten dollars on each share, and that no two installments shall be required to be paid within thirty days of each other, and in case of the non payment of said installment, or any of them, they shall have power to forfeit the share or shares upon which such default shall arise to the said corporation, and the said directors shall have power to make and prescribe such by-laws, rules and regulations as to them shall appear useful and proper, touching the management and regulation of the stock, property, estate, effects and business of the said corporation; and also, shall have power to appoint such officers, clerks and servants, as to them shall seem meet, and to establish and fix such salaries to them and to the president, as to the said directors shall seem proper.

6. And be it enacted, That the objects, business and pur objects. poses of the said corporation hereby created, shall be the gathering, procuring, preserving, storing, purchasing, buying, selling, transporting and vending ice as an article of merchandise, and for that purpose they and their successors are hereby invested with full power and authority to build, erect, keep and maintain all necessary storehouses, warehouses, sheds, buildings, boats, floats, and to do any and all things which they may deem proper or requisite in the carrying on or management of their said business.

and hold real

7. And be it enacted, That the said corporation hereby May purchase created shall have power and authority from time to time, and personal and at all times, to acquire, purchase or lease, and use, hold, estate. possess and enjoy such real estate and such personal estate within or without this state as they shall deem necessary for the purposes of the said company, and the same or any part

Penalty for injury to

works.

Proviso.

of such real or personal estate to sell, mortgage, lease or otherwise dispose of at pleasure, and also with power and authority to make, build, and construct on the real estate so held by them, such buildings and other improvements as they may deem proper and necessary for the better carrying into effect the objects and provisions contemplated by the provisions of this act.

8. And be it enacted, That if any person or persons shall wilfully or maliciously break, cut, destroy, injure or damage any boat, float, vessel, store or warehouse, or other appendage, or any real or personal property used or employed by the said corporation in the transaction of its business, or wilfully or maliciously obstruct, hinder or delay any of the officers, agents, servants or managers of the said company in the legitimate transaction of their business, such person or persons so offending shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine not exceeding two hundred and fifty dollars, or imprisonment at hard labor in the state prison for two years, or both: provided however, that no such criminal prosecution shall take away, or in any way impair the right of the said company to an action of damages by civil suit.

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

Approved March 8, 1870.

Names of corporators.

CHAPTER CLXVIII.

An Act to incorporate the Overpeck Creek Canal Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Joseph B. Miller, Thomas W. Demarest, John S. Lyle, Wm. Walter Phelps, Ashbel Green, Cornelius Lydecker, Nathan T. Johnson, J. Smith Homans, Jr., Charles Metzler, Andrew D. Bogert, James O. Morse, Francis Howland and William Laimbeer, and all such persons as may be hereafter associated with them, and their suc

cessors and assigns, shall be, and they are hereby constituted a body corporate, in fact and in law, by the name and style of "The Overpeck Creek Canal Company," and may ac- Corporate quire and hold all real and personal property, and do all other acts and things as may be necessary for the objects of this incorporation.

name.

2. And be it enacted, That the capital stock of said com- Amount of pany shall be fifty thousand dollars, with the privilege of capital stock. increasing the same, from time to time, 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.

when and how

3. And be it enacted, That the stock, capital, property, Directors, concerns and affairs of the said company shall be managed chosen. and conducted by a board of not less than seven, nor more than thirteen directors, a majority of whom 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 of said company annually, at such time and place, and in such manner and upon such notice as shall be directed by the by laws of said corporation; and in case such election of directors shall Failure to not be held at the appointed time, the corporation shall not, dissolve. 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 shall be continued in office until others are elected in their stead.

elect not to

4. And be it enacted, That a majority of said board shall Powers. constitute a quorum for the transaction of business; and that if, at any time, it shall happen that any vacancy or vacancies occur, from any cause whatever among the directors named in this act, or those hereafter to be elected, such vacancy or vacancies shall be filled by such stockholders as the directors for the time being, or a majority of them, shall appoint; and the said directors may appoint such officers, superintendents and other agents and assign to them such duties and compensation as they shall deem fit; and the place of business and principal office of said company shall be in Bergen county.

5. And be it enacted, That the incorporators herein above First directors named shall be the first directors, and shall respectively hold