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3. And be it enacted, That the property and affairs of the First directors said company shall be managed and conducted by a board of directors not less than three nor more than five in number, shareholders in said company, who shall be chosen annually, at such time and place in the county of Cumberland, in such manner and upon such notice as the by-laws of said company shall direct, who shall serve for one year and until others are chosen in their stead; and that Samuel Townsend, Benjamin F. Lee and Joseph E. Oliver shall be the first directors of this company, under this charter, to continue in office until others are elected and appointed in their stead; that the directors of said company shall choose one of their own number to be president, and may appoint such other officers and agents as they may deem expedient, fill vacancies in their May fill vaown board until the next annual election, collect installments on stock when called for, or declare the stock forfeited, and all previous payments made thereon, in case of non-payment when duly called for, if they deem it expedient.

cancies.

kept and re

nually.

4. And be it enacted, That the directors shall at all times Books to be keep, or cause to be kept, proper books of account, in which port made anshall be regularly entered all the transactions and accounts of said company; and also books for the transfer of the stock of the company, which shall at all times, at reasonable hours, be open for the inspection of the stockholders of said. company; that the directors shall make an annual report to the stockholders of the affairs of the company, of the amount of stock actually paid in, and of the assets and debts of the company, and no dividends shall be declared except from the actual profits of the company.

5. And be it enacted, That the said company may be dis- How dissolved solved at a general meeting of the stockholders, specially called for that purpose; provided, that at least three-fourths in value of the stockholders shall concur therein; and upon such dissolution the directors for the time being, and the survivors or survivor of them, or such persons as the said stockholders shall appoint, shall be trustees for settling all the affairs of the company, collecting and disposing of its property and assets, paying its debts and dividing the surplus among the stockholders, in proportion to their respective interests in the stock.

powers of

6. And be it enacted, That it shall be lawful for the legis- Reserved lature of this state, at any time hereafter, to amend, alter, Legislature. and repeal this act.

Approved February 5, 1863.

Owners of

construct a

dam.

CHAPTER XVI.

AN ACT to enable the owners and possessors of the meadow, marsh and swamp lands on New Port or Antuxet creek, in the county of Cumberland, to make a dam across the said creek, and to erect and maintain banks, dikes, dams and water works sufficient to prevent the tide from overflowing the same.

1. BE IT ENACTED by the Senate and General Assembly of meadows may the State of New Jersey, That it shall and may be lawful for the owners and possessors of the meadow, marsh and swamp lands now under water or exposed to the overflow of the tides in New Port or Antuxet creek, in the county of Cumberland, to make and construct a dam across said creek, at such place or places as shall seem most beneficial to all parties interested, with such sluices, sluice-races, and other water works, and of such materials, character and dimensions, as they may deem necessary or proper to exclude the tide from said meadows and swamps, and to drain, irrigate, and otherwise improve the same; and after the said dams, banks and water And maintain works shall be so made and constructed, the same to maintain and keep in suitable and proper repair, in manner and form as hereinafter described.

the same.

Officers, how elected.

2. And be it enacted, That the owners and possessors of said meadow shall be known as the New Port Meadow Company; and it shall be lawful for the said owners and possessors, their agents and representatives, to meet at the New Port Academy, in the town of New Port, township of Downes, in the county of Cumberland, on the first Monday of April, Anno Domini one thousand eight hundred and sixty-three, and annually thereafter, on the same day, and between the hours of one and five o'clock in the afternoon of said day, to choose, by ballot or otherwise, and by a plurality of votes, such person or persons as they may think proper for managers, and a treasurer and clerk, for and until the next annual meeting thereafter; and a notice, signed by any of the said company, and left at the residence or dwelling of each owner, or by advertising the same in three of the most public places in the neighborhood of said meadows, at least one week previous to the time of the first meeting aforesaid, shall be considered a legal notice for said meeting; and at such election

for officers, the mode of voting shall be in person or by proxy, in the following ratio: every owner of meadow in said company shall be entitled to one vote for any quantity not exceeding five acres, which he, she or they may possess, and one vote for each and every five acres, not exceeding twenty acres, and one vote for each and every additional ten acres.

managers.

or acquire

3. And be it enacted, That for the purpose of making and Powers of constructing said dams and water works, the said managers shall have full power to take and use any earth, mud or sod, or other material, in any part of said meadow or marsh land, the most convenient thereto, and to have free egress and ingress for themselves, and their hands and teams, through any part thereof, doing no unnecessary damage to the owner or owners thereof, and making him, her or them proper compensation therefor, to be determined by agreement of the parties; How to take and if they cannot agree, then by two judicious and disinter- materials. ested men in the neighborhood, mutually chosen by the parties; and in the event they cannot agree upon any appraisement or the damages, then the said appraisers may choose a third person of the neighborhood, being a freeholder and disinterested, to join them therein, any two of whom agreeing, their appraisement, made and certified in writing, shall be binding and conclusive to the parties, and shall be paid by the said company to the person or persons injured as aforesaid, they, the said appraisers, giving five days' notice, in writing, to the parties in question, of the time and place of meeting to determine said appraisement.

ings.

4. And be it enacted, That whenever the managers of said Special meetcompany, for the time being, shall deem it necessary to call a special meeting of the company, they shall give at least seven days notice thereof to its members, by advertisements, under their hands, set up in three of the most public places in the neighborhood of the said meadow, designating the time, place, and object of such meeting.

5. And be it enacted, That all the officers chosen, or to be chosen, by the said meadow holders, shall be entitled to receive from said company a reasonable compensation for all services required of them by this act.

Compensation of officers.

restrictions.

6. And be it enacted, That all the rest of the proceedings Directions and and operations of said company, of every nature and kind soever, shall be performed and conducted in the same way and under the same powers, and with the same limitations and restrictions, as if this company had been created and formed. under the act of the legislature of this state, entitled "An

act to enable the owners of tide-swamps and marshes to improve the same, and the owners of meadow already banked in and held by different persons, to keep the same in good repair," passed the twenty-ninth day of November, one thousand seven hundred and eighty-eight, and the several supple

ments thereto.

Repealer. 7. And be it enacted, That all other acts of this state, inconsistent with the provisions of this act, so far as they relate to this meadow, be and the same are hereby repealed. 8. And be it enacted, That this act shall go into effect immediately.

Approved February 9, 1863.

Preamble.

Money to be raised by as

pay advances.

CHAPTER XVII.

AN ACT to authorize the people of the township of Holmdel, in the county of Monmouth, to raise by tax an amount necessary to pay the bounties advanced to the Nine Months' Volunteers of said township.

WHEREAS, the inhabitants of the township of Holmdel, in the county of Monmouth, did advance to the Nine Months' Volunteers for the United States service, from said township, the sum of six thousand dollars, to aid the state in filling her quota of men called for by the governor, and relieve themselves from the odium of a draft and the severity of a conscription; and whereas, it is necessary that a law should be passed by the legislature to legalize the raising of said sum by taxation-therefore,

1. BE IT ENACTED by the Senate and General Assembly of Bessments to the State of New Jersey, That the inhabitants of said township be, and the same are hereby authorized to raise, by assessment on the taxable property in said township, a sum sufficient to liquidate the amount advanced and expended in raising said volunteers.

2. And be it enacted, That the said assessment shall be made and collected at the same time and in the manner as other taxes are assessed and collected.

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

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A further supplement to the act entitled "An act to incorporate the Newark Mutual Fire Assurance Company," passed the fourth day of November, eighteen hundred and eleven.

charter.

1. BE IT ENACTED by the Senate and General Assembly of Extension of the State of New Jersey, That the act to which this is a supplement, and the supplement thereto, passed the first day of December, Anno Domini eighteen hundred and forty-five, and the further supplement thereto, passed the twenty-fifth day of January, Anno Domini, eighteen hundred and fifty-five, and all the provisions thereof, except so far as the same shall be modified, amended, altered or repealed by this act, shall be and the same are hereby extended and continued in force for and during the term of thirty years from and after the passing of this act.

2. And be it enacted, That the said "The Newark Mutual Name altered. Fire Assurance Company," shall hereafter be known and designated by the name and style of "The Newark Mutual Fire Insurance Company," and by that name have and exercise all the powers and privileges conferred by the said original act and the supplements thereto, and be liable to all the duties and obligations therein contained.

be divided

3. And be it enacted, That at the first meeting of the di- Directors to rectors, after the passage of this act, they shall divide them- into classes. selves into three classes, one class to consist of five members, and two classes of four members each, one class of which shall serve as directors for one year, one class for two years, and one class for three years; and at each annual election thereafter, there shall be elected, by the members, directors to supply the class whose term of service has expired, who shall serve for three years.

cancelled.

4. And be it enacted, That it shall and may be lawful for Scrip may be the directors of said company to purchase, redeem and cancel so much of the scrip and certificates representing the

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