Proviso.

Investment of capital.

Fiscal year.

Principal office.

as may be agreed upon; provided, the rate of interest shall in no case exceed seven per centum per annum.

9. And be it enacted, That before said company shall proceed to do any business, the whole capital of said company shall be invested in the stocks of this state, or of the United States, or in bond and mortgage upon real estate in this state, worth fifty per centum more than the sum invested, which said stocks or bonds and mortgages shall be deposited with the treasurer of the state, to be held by him as security for the policy holders in said corporation; and the treasurer is authorized and directed to collect the interest falling due upon said investment, and pay over the same to the said company or its authorized agent appointed to receive the same.

10. And be it enacted, That the fiscal year of the company shall commence on the first day of January, and terminate on the thirty-first day of December in each year, and that the directors may meet at such place as the board may designate.

11. And be it enacted, That it shall be lawful for this corporation at any time to change its corporate name, and to adopt another at its pleasure, upon due notice of such change in writing, filed with the secretary of state, and published in a newspaper of the county of Mercer, and the principal office of said company shall be located in the county of Mercer. 12. And be it enacted, That this act shall take effect immediately.

Approved March 14, 1870.

Names of cor

porators.

CHAPTER CCXIX.

An Act to incorporate the West Jersey Park Association.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Benjamin Acton, Edward Vanmeter, William A. Casper, Richard Grier, James K. Patterson, John Holmes, Morris R. Elwell, Joshua Reeve,

junior, John Garwood, John S. Newell, their associates and successors, be and they are hereby created a body politic and corporate, in fact and in law, by the name, style and title of "The West Jersey Park Association," and by that name shall Corporate sue and be sued, and shall generally possess the powers and' privileges of a corporation.

name.

2. And be it enacted, That the capital stock of said cor- Amount of poration shall be twenty thousand dollars, divided into shares capital stock. of fifty dollars each, and paid in by the stockholders in such time, manner and installments as the directors of said corporation may direct, and such shares shall be deemed personal property and shall be transferable, but only on the books of said corporation, in such manner as the said association may prescribe; and the said corporation may hereafter increase their capital stock, if they choose, to an amount not to exceed forty thousand dollars.

books to be opened.

3. And be it enacted, That the above named persons, or a Subscription majority of them, shall be, and they are hereby appointed commissioners to open books and receive subscriptions to the capital stock of said association at such times and places, and in such manner and amount as they or a majority of them shall think proper, giving public notice for at least two weeks in both of the Salem newspapers, and in other newspapers printed and published in West Jersey, at their discretion, and as soon as one hundred shares are subscribed, the said commissioners, or a majority of them, are hereby authorized to hold their first meeting as directors of said association, at such time and place as they may agree upon, and to choose and elect a board of directors of nine in number, and such other officers and committees as they may deem necessary, which said directors and officers shall hold their said offices for one year and until others are elected to fill their places. 4. And be it enacted, That the members of said associa- May adopt tion shall have the right, at their first or any subsequent meeting, to establish such by-laws for the government of the association as they may deem expedient, which by-law shall not be inconsistent with the constitution of this state or the provisions of this act.

by-laws.

5. And be it enacted, That the object of said association Object. shall be to provide, keep and maintain, within two miles of the city of Salem, in Salem county, in this state, grounds and other real and personal estate of a net yearly value not exceeding three thousand dollars, suitable for healthful and

Dividends.

May hold

fairs and exhibitions.

driving exercises and purposes, and for agricultural, floral, mechanical and other like exhibitions, and shall have authority and power to adopt a corporate seal, and to receive by donation or devise, to acquire, purchase or lease, and use, hold, possess and enjoy such real estate not exceeding in all one hundred acres, and such personal estate as they shall deem necessary for the purpose of said association, and the same, or any part of such real or personal estate to sell, mortgage, lease or otherwise dispose of at pleasure, and also to make, build and construct on the real estate so held by them, such buildings, roads, tracks, walks for visitors, and other improvements as they may deem proper and necessary for the better carrying into effect the objects and purposes contemplated by the provisions of this act.

6. And be it enacted, That so much of the profits of said association as shall be deemed expedient by the directors, shall from time to time be divided amongst the stockholders, but no dividends shall be declared which will impair the capital of the association.

7. And be it enacted, That for the purpose of carrying into effect the objects and purposes of the said association, it shall be lawful for said association to hold upon their said grounds, from time to time, and as often as they shall deem proper, fairs and exhibitions for the development of speed or other desired qualities, and to encourage competition, may offer and pay such premiums for stock exhibited, and for superiority in the objects sought for in the manner usually exercised by the state and county agricultural societies for the improvement of the breed of horses, as the said directors, or a majority of them, may agree upon, and to ask, demand and receive for the said association's own use such reasonable fees for admittance of exhibitors and visitors to the said grounds and exhibitions as the said directors shall deem proper, and shall also have power to let, rent out or lease unto any agricultural or other society, any or all of the said grounds and improvements belonging to the said association. General pow 8. And be it enacted, That for the purpose of maintaining order and preserving the peace and decorum upon and about all the exhibition or meeting grounds of said association, the said directors, or a majority of them, shall have police jurisdiction within one mile of the boundaries of any of their said exhibition or meeting grounds; and it shall be their duty, and shall have the power to suppress the sale of ardent

ers.

spirits and other intoxicating beverages by parties not regularly licensed by the public authorities of any town or city, and to prohibit every species of gambling, breach of the peace or laws of this state within said limits; and it shall also be lawful for the said directors, or a majority of them, to appoint, from time to time, one or more fit, proper and discreet person or persons, who shall take and subscribe before one of the justices of the peace of said county an oath or af firmation, which said oath or affirmation shall be filed in the office of the clerk of said county where said exhibition or meeting is to be held, and shall be of like form and effect as is now required by law for constables to take and subscribe, and the date of said filing shall be endorsed by said clerk, and who shall be paid the fee usual for filing papers of that description, and which person or persons so appointed and sworn shall possess the same powers and authority on the premises of the said association, and on the lands and premises adjacent thereto within the limits above named, which constables now possess in criminal cases in this state; and they shall have power and authority without process to arrest all persons who shall be there found violating any of the laws of this state, or who shall conduct themselves in a disorderly or immoral manner, or disturb or wrongfully interfere with the meetings or exhibitions, or visitors thereto, or rules or regulations of said association; and the said parties so arrested shall be taken as soon as conveniently may be, before some justice of the peace of said county, or the mayor of the city nearest their said grounds, there to be dealt with according to law.

9. And be it enacted, That all acts and parts of acts of Repealer. this state that are inconsistent with the foregoing act, so far

as they relate to or interfere with this act, be and the same

are hereby repealed.

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

Approved March 14, 1870.

May issue

purpose of

building an additional reservoir.

CHAPTER CCXX.

A Further Supplement to an act entitled "An Act to authorize the mayor and common council of the city of Newark to purchase the property of the Newark Aqueduct Company, and creating the Newark Aqueduct Board."

1. BE IT ENACTED by the Senate and General Assembly of bonds for the the State of New Jersey, That for the purpose of building an additional reservoir in the western portion of the city of Newark, and of extending the works now in progress for supplying said city with water, it shall be lawful for "The Newark Aqueduct Board" to issue bonds in the name and under the seal of the mayor and common council of the city of Newark, to be denominated on their face, "Newark City Water Bonds," in addition to those now authorized by law, to an amount not exceeding five hundred thousand dollars; such bonds shall bear a rate of interest not exceeding seven per centum per annum, and shall be redeemable at any time not exceeding fifty years from their date, in the discretion of the board, which may be sold at public or private sale for the best price they can obtain for the same; they shall be issued in the same manner and under the same rules and regulations, and with the same liability for the payment thereof on the part of the city of Newark, as are prescribed in the act to which this is a supplement and the various supplements thereto.

Sections of city charter

2. And be it enacted, That none of the limitations, rethat shall not strictions or conditions in the thirty-fifth or sixty-eighth secaffect this act, tions of the act entitled "An Act to revise and amend the charter of the city of Newark," approved March eleventh, eighteen hundred and fifty-seven, shall be held to be applicable to or in any wise to affect this act.

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

Approved March 14, 1870.