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CHAPTER CCIV.

An Act to incorporate the Empire Brick Manufacturing Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Ira A. Hutchinson, Samuel E. Ogden, Jacob A. Kline, Joshua Vanbremmer and Hiram Bliss, junior, and such other persons as may be associated with them, and their successors, are hereby created and declared to be a body politic and corporate in law, by the name and title of "The Empire Brick Manufacturing Company," and by that name shall continue in force for thirty years, and have all the privileges and franchises belonging or incident to a corporation.

2. And be it enacted, That the whole amount of the capital stock of said company shall be five hundred thousand dollars, to be divided into shares of fifty dollars each, which shall be personal property, and transferable only on the books of said company; but the company may be organized and commence operations whenever two hundred thousand dollars of the said capital stock shall have been subscribed and paid as hereinafter provided.

3. And be it enacted, That the above-named corporators, Commission or a majority of them, shall be commissioners to receive subbooks of sub- scriptions to the capital stock of said company, at such time and place or places in this state, and upon such notice as they shall direct; and at the time of subscribing for said stock, such amount on each share shall be paid, satisfied, or satisfactorily secured to said commissioners as they, or a majority of them, shall determine; and the residue of the subscriptions shall be paid, satisfied or secured as the directors may determine, in such installments, at such times and places, in such manner, and to such person or persons as said dirctors shall from time to time appoint and direct giving notice of such time and place, and person or persons, by a notice served upon each subscriber two weeks previously to said time, or published in the newspapers printed in the city of Paterson in this state, for two weeks, at Forfeiture for least three times in each week; and upon the failure of any person to pay, satisfy or secure the payment of the installments, or any of them, as aforesaid, the said directors shall have power to forfeit the shares of each and every person so

non-payment
of install-
ments.

མ ོས་ ་ མ ་ ོང་ ་ ་ ་ ་ ན་

failing, or any of them, to and for the use and benefit of the said company; and any shares of stock so forfeited as aforesaid, may be held by the said company, or any person or persons for its benefit, and may at any time be sold or disposed of for the benefit of the company, or divided proportionately among the remaining stockholders, as said directors may direct, to be by them held and enjoyed, or sold and transferred with all the rights and benefits incident thereto, the same in all respects as if they were original shares by them subscribed; and any land, or interest therein, machinery, engines, tools, or other property or materials, used or to be used in the business of the said company, may be received in payment or satisfaction of subscriptions for such stock, at such valuation as shall be approved by a majority of the abovenamed corporators; and said commissioners may reserve such portion of said capital stock as a majority of them may determine, for the use of the company as working capital, and to be sold by the directors as they shall see fit.

how elected.

4. And be it enacted, That whenever two hundred thousand Directors, and dollars of the capital stock aforesaid shall have been subscribed, the said commissioners, or a majority of them, shall, as soon as they may deem expedient, give notice in such manner as they may determine of a meeting of the stockholders, at such time and place as they may designate, to choose five directors, who shall hold their office for one year and until others are duly elected; such election shall be made at the time and place so appointed, by such of the stockholders as shall attend for that purpose, either in person or by proxy, each share of stock entitling the holder thereof to one vote, and the directors chosen at such meeting, or at the annual election of said corporation shall, as soon as conveniently may be after every election, choose out of their own number a president, who shall hold his office for one year, and until his successor shall be duly appointed; provided, the persons named in tl.e first section of this act shall be the directors of said company, and shall hold their office until others are legally chosen as above provided for; and in case of the death, resignation or incapacity of the president or any director, such vacancy may be filled by the remainder of the directors for the time being, or a majority of them.

Proviso

5. And be it enacted, That the said company shall be and Powers of corare hereby authorized and empowered to establish and carry on poration.

the business of manufacturing bricks, tiles, pipes, and all other

Powers of directors.

articles from clay or earth, and of manufacturing or procuring to be manufactured, machines, engines, tools and other articles to be used in the manufac ure of bricks, tiles, pipes and other articles from clay or earth, and of transporting and vending the same, and for such purposes to purchase, rent, take, hold, occupy and enjoy, grant, demise, lease and convey in this state, such lands, and such parts, shares and interest therein as they may deem proper, in fee simple, or any less estate, and to purchase, rent, hire, erect, build, hold, maintain and use, grant, demise, lease and convey such buildings, machinery, engines, tools, kilns, works and other real and personal property, as they may decm necessary and proper for developing their property and carrying on their business. 6. And be it enacted, That the board of directors of said company shall have power to make and adopt a common seal for said corporation; to appoint from their own number or otherwise, a treasurer and secretary, and such other officers, clerks and agents as they may think necessary, and to fix May borrow their salaries or compensations; to borrow such sums of money as they may from time to time deem advisable, for the purposes of said company, not to exceed in amount at any one time two-thirds of the capital stock paid in or secured, and secure the payment of the same by mortgage or mortgages on the lands, estate, property and rights of said company, or any part thereof; and to make such by-laws, not inconsistent with the provisions of this act, as they may think proper, regulating the issue and transfer of stock, and for the general government and the affairs of said company; and the principal office of said company shall be in the county of Passaic, and that the said company may, in addition to their office in the county of Passaic, have and maintain an office in the city of New York, for the transaction of business, the transfer of stock, and the meetings of the directors and stockholders of the said company.

money on bond and mortgage.

7. And be it enacted, That this act shall go into effect immediately.

Approved March 24, 1868.

1

CHAPTER CCV.

An Act to authorize the Trustees of St. James Church,
Knowlton, and the Rector, Wardens and Vestrymen of St.
James Church, Knowlton, to make sale of certain lands.

WHEREAS, Robert Allison and Jane his wife, by deed bearing Preamble. date on the twenty-fifth day of July, anno domini, seventeen hundred and eighty-nine, conveyed a small lot of land lying in the township of Knowlton, in the now county, of Warren, in the state of New Jersey, to the trustees of St. James Church, Knowlton, and their successors in office, to erect a house of worship thereon; and whereas Henry Hartung and Susan Ann his wife, by deed bearing date on the eighth day of May, anno domini, eighteen hundred and forty-one, conveyed a small lot of land immediately adjoining the lot above mentioned, to the rector, wardens and vestrymen of St. James Church, Knowlton, on which last lot a church has been erected, which has recently been destroyed by fire; and whereas the Warren railroad runs immediately in front and over a portion of said lots, which renders it impossible to build a church on either of said lots of land; and whereas the trustees of St. James Church Knowlton, and the rector, wardens and vestrymen of St. James Church, Knowlton, are desirous of erecting a house of worship in a new place, and to sell and convey the lots above named,

church lands.

1. BE IT ENACTED by the Senate and General Assembly of Power to sell the State of New Jersey, That it shall and may be lawful for the trustees of St. James Church, Knowlton, and the rector wardens and vestrymen of St. James Church, Knowlton, to sell and convey the said lots by them held with the appurtenances, and that any conveyance by them made, shall be good and effectual in the law, and shall vest in the purchaser or purchasers thereof, a complete, perfect and absolute title in fee simple to the lots of land in question.

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

Approved March 24, 1868.

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elected.

CHAPTER CCVI.

An Act to incorporate the Franklin Gold Company of Colorado.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That William R. Morton, Joseph B. Heishon and Isaac N. Morton, and all such persons as may be hereafter associated with them, their successors and assigns shall be and they are hereby constituted a body corporate and politic, in fact and in law, by the name of "The Franklin Gold Company of Colorado," for the purpose of mining gold, silver or other ores and minerals in the territory of Colorado or elsewhere, and of selling and disposing of the same, and of transacting all business necessary or expedient to be connected therewith.

2. And be it enacted, That the said company may carry on its business and establish necessary offices, under the directions of its officers, in such places as they may deem expedient, but the principal office shall be located in the city of Salem, in this state.

3. And be it enacted, That for the purpose aforesaid the said corporation shall have the right to purchase, hold, possess and enjoy such real and personal estate in the territory of Colorado or elsewhere as they may deem neeessary, and of leasing, mortgaging or disposing of the same.

4. And be it enacted, That the capital stock of the said corporation shall consist of three hundred thousand dollars to be divided into shares of five dollars each, and that the said corporation shall have the privilege of increasing the capital stock to one million dollars, or to reduce said capital stock at the pleasure of a majority of the stockholders of said company.

Directors, how 5. And be it enacted, That the business of the said corporation shall be managed and conducted by not less than thee nor more than nine directors, all of whom shall be stockholders, and one of whom shall be president, and that the persons named in the first section of this act shall be the first directors of said corporation, and shall hold their offices for one year and until their successors be elected, and every year thereafter at such time and place as the by laws of the said

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