Corporate name and objects.

Amount of

capital stock.

Directors and officers.

ciated with them, their successors and assigns, be and they are hereby constitu'ed a body politic and corporate, in fact and in law, by the name of "The Vineland Cranberry Company," and by that name they and their successors may have perpetual succession, and in law be capable of sueing and being sued in any courts and places whatsoever, and may have a common seal, with the power to alter the same for the purpose of buying, holding, cultivating and improving lands in the counties of Cumberland and Atlantic, or elsewhere, and for raising and selling cranberries and other fruit and produce of said land, and carrying on the business connected therewith, and erecting such buildings and holding such personal property as may be necessary therefor; and that they and their successors, by the same name, may sell and dispose of the said lands, tenements and hereditaments, cranberries, produce, fruit, goods and chattels, or any part thereof, and may lay, open, make and maintain ditches, drains and embankments through their own and adjoining and contiguous lands, as they may deem for the benefit of said lands; the consent of the owners of the lands adjoining and contiguous being first obtained.

2. And be it enacted, That the capital stock of said company shall be thirty thousand dollars, with power to increase the same, by a vote of the board of directors, to five hundred thousand dollars, to be divided into shares of one hundred dollars each, which shall be deemed personal property, and shall be transferable in such manner as the by-laws may prescribe; and the said company may organize and commence business whenever the sum of ten thousand dollars shall have been subscribed; all stock subscribed sha'l be paid in at such times and upon such notice as the board of directors of said company may direct.

3. And be it enacted, That the business of said corporation shall be managed and conducted by a board of nine directors, who shall be stockholders in said company, one of whom shall be the president thereof; said board of directors shall have power to appoint such other officers and agents as they shall deem necessary; said board of directors shall hold their office for one year and until others are chosen to fill their places, and until an election for directors shall be held, the persons named in the first section of this act shall be directors.

4. And be it enacted, That in case an election of directors

by failure to

should not be held upon the day when pursuant to the by-laws Not dissolved of said company it ought to have been held, the corporation elect directors shall not be deemed dissolved, but the stockholders may proceed to hold an election on any other day, ten days previous notice of the time and place of said election having been given in some newspaper published in the county of Cumberland or elsewhere; at which election and at all meetings of the company each stockholder shall be entitled to one vote, in person or by proxy, for each share of stock held; and in case a vacancy shall occur in the board of directors, the remaining directors shall have power to fill the vacancy in said board by the appointment of any person who is a stockholder in said company.

secure the

5. And be it enacted, That it shall be lawful for the di- May borrow rectors of said company, from time to time, to borrow such money and sum or sums of money as may, to them, seem advisable for same by bond the purpose of their said business, and to secure the same by mortgage or mortgages on the lands or other property of said corporation.

and mortgage.

6. And be it enacted, That the directors of said company Dividends. shall have power to declare stock forfeited, and all previous payments made thereon, in case of non-payment, when duly called for, if they deem it expedient, and to make such dividends as the profits, plans and rules of the company will allow, and that the principal office of said company shall be at Vineland, Cumberland county, New Jersey.

7. And be it enacted, That the directors shall, at the annual Annual report meeting of the stockholders for the election of officers, exhibit a full and complete statement of the affairs of the company during the preceding year, and regular books of account of the corporation shall be kept, to which every stockholder shall have free access at all reasonable times for the purpose of inspection.

8. And be it enacted, That said company may be dissolved How dissolved by a general meeting of the stockholders, specially called for that purpose; provided, that stockholders representing at Proviso. least two-thirds of the stock shall concur therein; and upon such dissolution the directors for the time being, and the survivor or survivors of them, or such persons as the said stockholders shall appoint, shall be trustees for the settling of all the affairs of the company, collecting and disposing of its property and assets, paying its debts, and dividing the sur

plus among the stockholders in proportion to their respective interests in the stock.

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

Approved March 16, 1870.

Property free from tax.

CHAPTER CCLXVII.

Supplement to "An Act to incorporate Seton Hall College," approved March eighth, eighteen hundred and sixty-one.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the provisions of the fifth section of an act entitled "An Act to incorporate the Drew Theological Seminary of the Methodist Episcopal Church," approved February twelfth, eighteen hundred and sixtyeight, in relation to the exemption of the real and personal property, of said corporation from assessment and from taxation, be, and the same are hereby extended to the corporation created by the act to which this is a supplement.

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

Approved March 16, 1870.

CHAPTER CCLXVIII.

An Act to facilitate the Collection of Taxes in the Township of
Cinnaminson, in the county of Burlington.

taxes may be

1. BE IT ENACTED by the Senate and General Assembly of Collection of the State of New Jersey, That the township committee of dent the township of Cinnaminson, in the county of Burlington, enforced. shall have power to enforce the collection of all delinquent taxes assessed on any real estate in said township during the years of our Lord one thousand eight hundred and sixtyseven, eight and nine, and thereafter, by exposing the same for sale, or so much thereof as may be sufficient to pay said tax and the costs thereon, at public vendue, to the person or persons who will take the least quantity of said land, to be laid out in one body, and to commence at some designated corner of the premises on which said delinquent taxes are claimed to be due, and in case where the said committee may deem it for the interest of the township, they may authorize the treasurer of the township to appear at and bid on such lands as are offered for sale as aforesaid in the name of the township, the lands so sold to him, if any, to be the property of said township.

shall make re

tee.

2. And be it enacted, That no land shall be sold by virtue collector of this act until the township collector shall have made a turn to townreturn to the township committee that the taxes assessed on ship commitsaid lands are unpaid, and have by him been returned as delinquents, and shall verify the same by his affidavit attached thereto, and the collector neglecting or refusing to make such return and affidavit on or before the annual township meeting for the election of officers, shall be liable to the township all of said unpaid and delinquent taxes not so returned.

turn to be re

posted.

3. And be it enacted, That within ten days after the said Copy of rereturn, by the collector of the township, the township com- corded and mittee shall cause a copy of said return to be recorded in the clerk's office of said township, and a copy thereof to be posted in at least three public places in said township, one of said places to be at the place where the last election of said town

Certified copy to be published.

Land to be

vendue.

sale to be

made.

ship was held, the same to be certified to and signed by the committee of the township.

4. And be it enacted, That after the expiration of twenty days, the township committee shall cause a certified copy of the said return and affidavit of the collector to be published in one or more newspapers published in said county, at least six weeks, specifying the time and place where the same will be sold at public vendue, as aforesaid, for the collection of said returned and delinquent taxes.

5. And be it enacted, That on the day mentioned in said sold at public notice, or on some adjourned day thereof, the chairman of the said committee shall, at the hour named in said notice, proceed to sell the several tracts or parcels of land returned and unpaid, and in the order so returned, at public vendue, as aforesaid, to the person or persons who will take the least quantity of said premises so offered and pay the amount of said delinquent taxes with the cost of advertising and sale. Certificates of 6. And be it enacted, That immediately after such sale the township committee shall execute and deliver to such person or persons who may become the purchasers of said lands, a certificate of such sale, describing the piece, or several pieces sold, as the case may be, together with the amount paid for the same, entitling the holder thereof to a deed of the premises so sold; provided, that the owner or owners of the said land or lands, do not within two years from the date of said certificate, appear before the said committee and deposit with them, for the purchase of said land, the amount so paid by him, together with fifteen per centum interest, in which case the said certificate shall be deemed to be canceled, and the amount so received shall on demand be paid to the party holding and owning such certificate.

Proviso.

premises may

When deed of 7. And be it enacted, That if at the expiration of two be executed. years from the time of said sale, the owner or owners of any land so sold does not appear to redeem said land as aforesaid, then the said township committee shall execute to the holders or owners of said certificate a deed of the premises, described therein in their corporate name, the party receiving said deed to bear the expense of the revenue stamps and the acknowledging of the same, and on the delivery of said deed, the sale shall be final, and the title of such lands pass irrecoverably to the holders thereof.

Quorum.

8. And be it enacted, That a majority of the said committee shall constitute a quorum for the purposes of this act,