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Commission.

ers to open

scription.

rectors.

with liberty to increase the same to five hundred thousand dollars, and shall 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 of the said corporation shall direct.

3. And be it enacted, That the above named persons, or a books of sub- majority of them, shall be commissioners to open books to receive subscriptions to the capital stock of said corporation, at such time or times and at such place or places as they or a majority of them may think proper, by giving ten days' previous notice in two newspapers published in Ocean and Burlington counties, and at the time of subscribing for said stock ten per centum on each share subscribed shall be paid to said commissioners; that whenever there shall be one thousand five hundred shares of said stock subscribed, the said commissioners shall give like notice as above for a meeting of the Election of di- stockholders to choose nine directors, a majority of whom shall be residents of this state; and such election shall be made at the time and place appointed by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy, each share of capital stock entitling the holder thereof to one vote; and the said commissioners, or a majority of them, shall be inspectors of the first election of directors of the said incorporation, and shall certify under their hands the names of those persons duly elected, and deliver over the subscription books and the money paid in to said directors; and the time and place of holding the first meeting of directors shall be fixed by the persons who act as inspectors aforesaid; and the directors chosen at such meeting, or at the annual election of said corporation, shall, as soon as may be after every election, choose out of their own number a president, who shall be a resident of this state; and in case of the death, resignation or removal of the presi dent or any director, such vacancy or vacancies may be filled for the remainder of the year wherein they may happen by the said board of directors, or a majority of them; and in case of the absence of the president, the said board of directors, or a majority of them, may appoint a president pro tempore, who shall have such power and functions as the by-laws of the said corporation will provide.

Annual elec
tions.

4. And be it enacted, That annual elections for directors shall be held at such times and places as the board of directors shall hereafter direct, of which election notice shall be

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officers, &c.

given at least two weeks in a county newspaper published in Ocean and Burlington counties; and in case it should happen that an election of directors should not be made during the day when, pursuant to this act, it ought to be made, the said corporation shall not for that cause be deemed to be dissolved; but the said election shall be held as soon thereafter as possible, and public notice shall be given as herein before directed, and the directors for the time being shall continue to hold their office until others shall have been chosen in their places. 5. And be it enacted, That a majority of said directors Directors may shall be competent to transact all business of the said corpo- stock, apont ration, and they shall have power to call in the capital stock of said company, by such installments, not to exceed ten dollars on each share at any one time, and at such times as they may direct; provided, that such installments shall not be Proviso. called for, at a shorter period than thirty days from each other; and in case of the non-payment of said installments, or any part of them, to forfeit the share or shares upon which such default shall arise, to and for the use of said corporation; and to make and prescribe such by-laws, rules and regulations as to them shall appear needful and proper, touching the management and regulation of the stock, property, estate and effects of the said corporation, and also shall have power to appoint such officers, engineers, superintendents, clerks and servants as to them shall seem meet, and to establish and fix such salaries to them, and also to the president, as to the said board shall appear proper.

and construct a railroad.

6. And be it enacted, That the president and directors of May lay out the said company be, and they are hereby authorized and invested with all the rights and powers necessary and expedient to survey and lay out and construct a railroad from some suitable point at or near the village of Manchester in Ocean county, to some suitable point at or near the village of Pemberton or Vincentown, in Burlington county, passing through or near Hanover, Brown's Mills and New Lisbon, with the privilege of connecting at either terminus with any railroad or railroads now or hereafter to be built, and of constructing a branch railroad to any marl beds or deposits in the townships of Pemberton or Southampton, in Burlington county, the said railroad not to exceed one hundred feet in width, except in such places where, from the depth of the excavation or the height of the embankment, it is necessary to take more land for the slope and protection of the side banks of

May enter on lands, &c.

Proviso.

Proceedings when the company and

owners of property cannot

agree.

said railroad, in which case so much land as will be necessary for the purpose, and no more, shall be taken, with as many sets of tracks and rails as they may deem necessary.

7. And be it enacted, That it shall be lawful for the said company, their officers, agents, engineers, superintendents, and others in their employ, to enter at all times upon lands, bridges and waters, for the purpose of exploring, leveling, surveying and laying out the route of such railroad and branches, and of locating and subsequently altering the location thereof, doing no unnecessary damage to private property; and when any part of the route and location of such road or its branches, or the alteration of location shall have been determined upon, and a survey thereof desposited in the office of the secretary of state, then it shall be lawful for the said company its officers, engineers, agents, superintendents, contractors, workmen, and other persons in their employ, to enter upon, take possession of, hold, have, use, occupy and excavate any such lands, and to erect embankments, bridges, and all other works necessary, to lay rails and to do all other things which shall be suitable, or necessary for the completion or repair of the said road, subject to such compensation as is hereinafter provided; provided, always, that the payment, or tender of payment of all damages for the occupancy of lands through which the said railroad may be laid out, be made before the said company, or any person under their direction or employ, shall enter upon or break ground in the premises, except for the purpose of surveying and laying out said road, unless the consent of the owner or owners of such land be first had and obtained.

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8. And be it enacted, That when the said company or its agents cannot agree with the owner or owners of such required lands or materials for the use or purchase thereof, or when by reason of the legal incapacity or absence of such owner or owners no such agreement can be made, a particular description of the land or materials so required for the use of the said company in the construction of the said road shall be given in writing, under the oath or affirmation of some engineer or proper agent of the company, and also the name or names of the occupant or occupants, if any there be, and of the owner or owners, if known, and their residence, if the same can be ascertained, to one of the justices of the supreme court of this state, who shall cause the said company to give notice thereof to the persons interested, if known and in this

state, or if unknown, or out of this state, to make publication thereof as he shall direct, for any term not less than ten days, and to assign a particular time and place for the appointment of the commissioners hereinafter named, at which time, upon satisfactory evidence to him of the service or publication of such notice aforesaid, he shall appoint, under his hand and seal, three disinterested, impartial and judicious freeholders, residents in the county in which the lands or materials in controversy lie, or the owner resides, commissioners to examine and appraise the said land or materials, and to assess the damages, upon such notice to be given to the persons interested as shall be directed by the justice making such appointment, to be expressed therein, rot less than ten days; and it shall be the duty of the said commissioners (having first taken and subscribed an oath or affirmation before some person duly authorized to administer an oath, faithfully and impartially to examine the matter in question, and to make a true report according to the best of their skill and understanding) to meet at the time and place appointed, and proceed to view and examine the said land or materials, and to make a just and equitable estimate or appraisement of the value of the same, and assessment of damages as shall be paid by the said company for such lands or materials and damages aforesaid; which report shall be made in writing, under the hands and seals of the said commissioners, or any two of them, and filed within ten days thereafter, together with the aforesaid description of the land or materials and the appointment and oaths or affirmations aforesaid, in the clerk's office of the county in which the land or materials are situated, to remain on record therein, which report, or a copy thereof, certified by the clerk of said county, shall at all times be considered as plenary evidence of the right of the said company to have, hold, use, occupy, possess and enjoy the said lands or materials, or of the said owner or owners to recover the amount of said valuation, with interest and costs, in an action of debt in any court of competent jurisdiction, in a suit to be instituted against the company, if they shall neglect or refuse to pay the same for twenty days after demand made of their treasurer, and shall, from time to time, constitute a lien upon the property of the company in the nature of a mortgage, and the said justice of the supreme court shall, on application of either party, and on reasonable notice to the other, tax and allow such costs, fees and expenses to the justice of the

Further proceedings in

peal.

supreme court, commissioners, clerks and other persons performing any of the duties prescribed in this section as they or he shall think equitable and right, which shall be paid by the said company.

9. And be it enacted, That in case the said company, or case of an ap- the owner or owners of the said land or materials shall be dissatisfied with the report of the commissioners named in the preceding section, and shall apply to the justices of the supreme court at the next term after the filing of the said report, the court shall have the power upon good cause shown to set the same aside, and thereupon to direct a proper issue for the trial of the said controversy to be formed between the said parties, and to order a jury to be struck, and a view of the premises or materials to be had, and the said issue to be tried at the next circuit court to be holden in the said county, upon the like notice and in the same manner as other issues in the said court are tried; and it shall be the duty of the said jury to assess the value of the said land or materials, and damages sustained; and if they find a greater sum than the said commissioners shall have awarded in favor of the said owner or owners, then judgment thereon with costs, shall be entered against the said company, and execution awarded therefor, but if the said jury shall be applied for by the said owner or owners, and shall find the same or a less sum than the company shall have offered or the said commissioners awarded, then the said costs to be paid by said applicant or applicants, and either deducted out of the said sum found by the said jury, or execution awarded therefor, as the court shall direct, but such application shall not prevent the company from taking the said land or materials upon filing the aforesaid report, the value and damages being first paid, or upon a refusal to receive the same upon a tender thereof, or the owners thereof being under any legal disability, the same being first paid into the court of chancery.

Must construct bridges and wagon ways.

10. And be it enacted, That it shall be the duty of the said company to construct and keep in repair good and sufficient bridges and passages over or under the said railroad where any public or other road shall cross the same, so that the passage of carriages, horses and cattle on the said road shall not be impeded thereby; and also where the said railroad shall intersect any farm or lands of any individual, to provide and keep in repair suitable wagon ways over or under the said

road.

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