shall hereafter become their associates, are hereby created 2. And be it enacted, That the object of said corporation Object. 3. And be it enacted, That the capital stock of the said Capital stock. corporation shall not exceed the sum of thirty thousand dollars, and shall be divided into shares of ten dollars each, which shall be transferable in the manner prescribed by the by-laws of said corporation; and the said corporation may commence its operations as soon as the sum of three thousand dollars of its capital stock shall be subscribed. how appoint 4. And be it enacted, That the affairs of said corporation Trustees, and shall be managed by a board of trustees, thirteen in number, ed. and the persons named in the first section of this act shall be the first trustees of said corporation until the first Monday in June, eighteen hundred and sixty-eight, or until new trustees shall be elected in their place, at which election each stockholder shall be entitled to one vote, in person or by proxy, for each share of stock by him or her held. poration. 5. And be it enacted, That the said corporation, at a gen- Powers of coreral meeting of its members, shall have power to make and enact such constitution, by-laws, rules and regulations for the government and management of its affairs, and the carrying into complete effect its objects, as shall not be contrary to the laws of this state, and from time to time alter, modify and repeal the same, and by said constitution, by-laws, rules and regulations, may determine what officers shall be elected and appointed, the mode and manner of the election, and appointment of its officers and trustees. property by bequest. 6. And be it enacted, That the said corporation may take May receive and receive by gift, demise and bequest, any money and pro- gift, demise or perty whatever in addition to the property the said corporation is entitled to have and to hold by virtue of this act, which, and the proceeds of which, shall at all times be kept securely invested in such manner as the said constitution and Trustees to receive no conipensation. by-laws shall prescribe, and the principal of which shall not be used, alienated or disposed of, and the interest of which, or the income therefrom, shall be used and applied in and about the purposes of education as the said board of trustees shall from time to time direct. 7. And be it enacted, That no trustee of the said corporation shall receive any compensation whatever for his services as such trustee, or as an officer of such corporation. 8. And be it enacted, That this act shall take effect immediately. Approved February 25, 1868. Extending CHAPTER XLIX. A Supplement to an act entitled "An Act respecting the Estates of Non-Resident Wards," approved March second, eighteen hundred and forty-seven. 1. BE IT ENACTED by the Senate and General Assembly of original act. the State of New Jersey, That the provisions of the act to which this is a supplement, shall extend to all cases of funds belonging to non-resident wards, deposited in the court of chancery or under the control and direction of the chancellor, arising from the sale of the property of such wards in this state or otherwise. Chancellor further secu rity. 2. And be it enacted, That the chancellor, in case of not may require being satisfied with the proof of security given by any nonresident guardian, in respect of the property of any nonresident ward, may require additional security to be given in this state, and make such order in respect thereof as may to him seem meet and right. Repealer. 3. And be it enacted, That the first proviso in the second section of said act be, and the same is hereby repealed. 4. And be it enacted, That this act shall take effect immediately. Approved February 25, 1868. CHAPTER L. An Act relating to the Board of Education in the City of Newark. dren under how taken. 1. BE IT ENACTED by the Senate and General Assembly of Census of chilthe State of New Jersey, That the census of children in the school law city of Newark, required to be made by the thirty-sixth section of an act entitled "An Act to establish a system of public instruction," approved March twenty-first, eighteen hundred and sixty-seven, shall be made by the board of assessment and revision of taxes in the city of Newark, at the time of assessing taxes in said city, which census shall be by said board immediately certified and returned to the secretary of the board of education of said city, and by him transmitted to the county superintendent under oath or affirmation to the best of his knowledge and belief, in the manner required by the said thirty-sixth section, which shall be held and taken to be a compliance with the requirements of the eleventh section of said act as to said census in said city. 2. And be it enacted, That so much of the sixty-second Repealer. section of the act incorporating said city of Newark as requires a report to the common council from said board of education of the number of schools under their charge, the grades, numbers and names of teachers, and the number. of pupils and average attendance in each school, is hereby repealed. 3. And be it enacted, That this act shall take effect immediately. Approved February 25, 1868. CHAPTER LI. An Act to renew the charter of the Hardwick Mutual Insur ance Company. 1. BE IT ENACTED by the Senate and General Assembly of Continue and the State of New Jersey, That the act entitled "An Act to nal charter. extend origi When to take effect. incorporate the Hardwick, Knowlton and Independence Mutual Insurance Company, in the county of Warren," passed ninth day of November, eighteen hundred and forty-one, together with the supplement thereto, changing the name to the Hardwick Mutual Company, be and they are hereby continued and extended for and during the term of thirty years from and after the time by the first mentioned act limited for its continuance. 2. And be it enacted, That this act shall take effect immediately upon the expiration of the time in and by said act entitled "An Act to incorporate the Hardwick, Knowlton and Independence Mutual Insurance Company," limited for the continuance thereof. Approved February 25, 1868. Change of time of hold tion. CHAPTER LII. A Further Supplement to the act entitled "An Act to revise and amend the charter of the city of New Brunswick," approved March eighteenth, eighteen hundred and sixtythree. 1. BE IT ENACTED by the Senate and General Assembly of ing city elec- the State of New Jersey, That the time of holding the election for city officers for the said city of New Brunswick, as prescribed by the sixth section of the charter of said city, approved March eighteenth, eighteen hundred and sixtythree, be changed from the second Tuesday in April in each year to the Tuesday after the first Monday in March in each and every year hereafter. 2. And be it enacted, That the fifty-sixth section of the said charter be amended so as to read as follows: It shall be the duty of the common council of the city of New Brunswick to cause to be published in the newspapers of said city, at least six days before each annual election for city officers, a statement of all moneys received or collected for the use of the city, or for city purposes during the past year, the sources thereof, how applied, the amount of the then indebtedness of the city, and the balance of funds, if any, in their hands, voted on. and also the amount in their opinion necessary to be raised by tax for the ensuing year for the use of the city, under appropriate heads and sums thereto; and the officers of elec- Expenditures tion appointed by law in each district and polling place in said city shall receive and deposit in boxes provided for that purpose the ballot of each legal voter who may present his vote, having on it, either printed or written, the word "yes" or "no" opposite each item of expenditure for the ensuing year, as proposed by the common council; and the said officers of election, after they have estimated and canvassed the votes for the several officers voted for, in the manner and form prescribed by law, shall immediately proceed to estimate and canvass the votes cast on the appropriations recommended by common council, and shall make a statement of the result thereof according to the votes cast for each purpose named in the estimate presented by common council, which statement, certified by them, shall be filed with the city clerk without delay; and the common council of said city when met for the purpose of canvassing the votes given at such election for city officers shall proceed to canvass the votes cast on the appropriations recommended by common council, and shall make a written statement thereof, and shall thereupon determine and declare according to the result of the votes cast, what moneys shall be raised and applied for the ensuing year; and the statement and determination of the common council shall be certified by the presiding officer and the clerk, and shall be published in the newspapers of the city, and such sums of money so determined and declared by common council shall be assessed and collected by the assessors and collectors, or other qualified persons, in like manner and at the same time as the state and county taxes shall be assessed and collected. 3. And be it enacted, That all acts and parts of acts incon- Repeater. sistent with or repugnant to this further supplement to the act to revise and amend the charter of the city of New Brunswick, passed March eighteenth, eighteen hundred and sixty-three, be and they are hereby repealed. 4. And be it enacted, That this supplement shall take effect immediately. Approved February 26, 1868. |