issue certificates thereof to the purchaser; the shares of stock in the company hereby incorporated shall be deemed to be personal property, and to be transferable in such manner as the company in their by-laws may provide; and it shall be lawful for any other corporation, when business is that of transportation or telegraphing, either by directly engaging therein, or by furnishing the property or materials to be used therein, unless prohibited by their charter, to have issued to them and hold stock in the company hereby incorporated, and to transfer the same by any agent or attorney, or act recognized by the company hereby incorporated.

Election of di- 4. And be it enacted, That there shall be five directors of appointment said company, who shall be stockholders, and who shall be

rectors, and

of officers.

Powers of directors.

annually elected on the second Monday of November by the stockholders; such election to be advertised in the newspapers published in Jersey City, county of Hudson, in this state, and in a daily newspaper published in the city and state of New York, at least two weeks before the same is to be held, by a notice setting forth the time and place of such election, and such directors shall hold office until others are duly elected in their place, and shall choose out of their own number a president, vice president and an executive committee; and shall appoint a treasurer and secretary from among the stockholders, and other officers, whose powers and duties may be regulated by said directors; and the present directors of the Hispano-American Intercommunication Company shall remain, continue, and be the directors of the Hispano-American Telegraph Company hereby incorporated, and shall hold such office until the annual election on the second Monday of November as hereinbefore provided, and any vacancy among the directors may be filled by the remaining directors; in case of failure to elect on any day named for an election of directors, such election may be held on such other day as the directors may appoint, notice thereof being given as aforesaid; and in all elections for directors, and on all questions voted on by the stockholders at any meeting, each holder of stock shall be entitled to one vote for each share of stock held by such stockholder, but only one vote shall be given for each share of stock, which vote, whether by ballot or otherwise, shall be given in person or by written proxy.

5. And be it enacted, That a majority of the directors of said corporation shall constitute a quorum for the transaction of business, and of such quorum a majority shall bind the

others, with power to make such by-laws, ordinances and regulations, not contrary to the constitution of the United States or of this state, as shall seem to them necessary for conducting the affairs of the corporation, and to alter and repeal the same; to change, retain or renew the present corporate seal; to make contracts or engagements with any government or corporation, and with any person or persons, whether stockholders of the corporation hereby incorporated or not, for transmitting any message or messages for said company, or in relation to any other business of the company; and said directors are invested with all the powers of said corporation for the control of the affairs, business and interests of the corporation, with power to appoint all agents necessary, to make their compensation and to remove them; and to make such charges for the transmission of messages and other business done by the said company as may be lawful; and they may also, from time to time, make such dividends out of the net profits of the company as the business of the company may warrant; and they may have meetings out. of this state, and when so held, such meetings shall be as valid as if held in this state; but all elections for directors shall be held at the company's office in this state.

money and de

therefor.

6. And be it enacted, That the Hispano-American Tele- May borrow graph Company hereby incorporated, shall, by the action of liver bon s its board of directors, when they may deem it necessary for the purposes of the company, have power to borrow money from time to time, and make and deliver, or cause to be delivered, the bonds or other obligations of the company, executed as the directors may direct, bearing interest as expressed thereon, or in coupons attached, or otherwise, with interest not to exceed seven per centum per annum, the principal and interest payable at such times and places, in or out of this state, and in such manner as they may direct, and may secure the same by a mortgage or mortgages of the company, which shall be and remain a lien or liens for the amount secured thereby on any property, real or personal, or the franchises or other rights of the company thereby mortgaged until the same be paid; and the registry thereof in the office of the clerk of the county of Hudson, in this state, shall be notice to all parties in interest; and the same shall be recorded by said clerk in the record of mortgages in his office; and it shall be lawful for said directors, and they are hereby authorized to negotiate, sell or dispose of any of the

D vidends.

bonds or other obligations of the company at public or private sale, and if disposed of at a rate less than their par value, the same shall not be invalidated thereby, and it shall not be lawful for the company, in any suit at law or in equity, to claim, or be entitled to, or be allowed, any exemption from the payment of the principal named therein and the interest, or any part of either, on the ground of usury; it shall also be lawful for the directors to make any of the bonds of the company convertible into the stock of the company, at the option of the holder of said bonds, at such times and on such terms as shall be specified on the face thereof.

7. And be it enacted, That it shall be lawful for the directors of the Hispano-American Telegraph Company to issue the stock of the company, either partially or wholly paid up in the purchase of property or franchises in connection with their business, to any government, or to any company or individual or individuals; and it shall be lawful for them, from time to time, to create of any of the unissued stock of the company a special stock, dividends on which may be preferred out of the net profits, and declared and paid to an amount not exceeding seven per centum per annum on the par value thereof, before dividends are declared and paid on other stock of the company, which special stock may be so issued as to participate with other stock of the same class in dividends after eight per centum per annum on such other has been declared; the directors may declare stock dividends to represent profits used or invested in the works or property of the company.

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

Approved April 22, 1868.

CHAPTER DLXIII.

An Act to incorporate the Finesville Vigilant Society, for apprehending horse and other thieves and other villains, in the county of Warren..

name and

1. BE IT ENACTED by the Senate and General Assembly of Corporate the State of New Jersey, That the Finesville Vigilant Society powers. for apprehending horse and other thieves in the county of Warren, is hereby erected into a body politic and corporate, in deed and in law by the name, style and title of "The Finesville Vigilant Society, for apprehending horse thieves and other villains," and by the same name shall have perpetual succession, and be able to sue and be sued in all the courts of New Jersey and elsewhere, and shall be able to purchase, receive, have, hold and enjoy to them and to their successors, la ds, tenements, hereditaments, rents, annuities, franchises, goods and chattels of what nature, quality or kind soever, real, personal or mixed or choses in action, and shall have power the same from time to time to sell, grant alien and dispose of, provided, that the clear yearly income of lands and Proviso. tenements, goods and chattels, shall not exceed two thousand dollars; and also to ordain, establish and put in execution such subordinate laws and regulations as shall appear necessary and convenient for the government of the said corporation, not being contrary to the constitution of the United States, or of this state, and generally to do all and singular such matters and things which to them it shall lawfully appertain to do for the well being of the said corporation, and the proper management of its affairs.

2. And be it enacted, That this society shall consist of all Members. such persons as are now members or shall hereafter be admitted as such, agreeable to the by-laws of said society.

3. And be it enacted, That the officers of said society shall Officers. consist of a president, a secretary and a treasurer, and five directors, to be elected by the members of the society.

officers.

4. And be it enacted, That the officers enumerated by this Election of act shall be chosen by ballot, at a general meeting of the said society, on the last Saturday of December annually, to continue in office for one year, or until their successors be elected.

5. And be it enacted, That the funds of the society shall be Funds, how

appropriated.

exclusively appropriated to the payment of rewards offered for, and the expenses incurred in detecting horse and other thieves, and recovering stolen horses or vehicles, and defraying the necessary costs attending the meetings of the society. 6. And be it enacted, That the legislature reserves the right to alter, amend or annul the charter at any time here

after.

Approved April 22, 1868.

When election

be divided.

CHAPTER DLXIV.

Supplement to an act entitled "An Act to regulate elections," approved April sixteenth, eighteen hundred and forty-six.

1. BE IT ENACTED by the Senate and General Assembly of districts shall the State of New Jersey, That when a township or ward in any city contains more than eight hundred voters, said township or ward shall be divided into election districts so as not to contain more than eight hundred voters in each district; and the mayor and common council in the several cities and the township committees in the several townships are hereby required to set off said districts, on or before the first day of August next, and file a description of the boundaries thereof, one copy in the county clerk's office, and one copy in the city or township clerk's office, as the case may be, and in case it may be necessary hereafter to change the boundaries of said districts, such change shall be effected in the manner above prescribed.

Election of officers.

No ballot for election of

Judges to con

tain more than twe

names.

2. And be it enacted, That whenever any election district is created as above it shall be the duty of the power creating the same to appoint a clerk of election and three judges of election in said district, who shall not all belong to the same political party, and who shall hold said office until their successors are elected.

3. And be it enacted, That hereafter no ballot for the election of judges of election shall contain more than two names, and in case more than two names therefor are voted