1 Board of trus partment CHAPTER CCXXXIX. A Supplement to an act passed February sixteenth, eighteen hundred and sixty-seven, entitled "An Act to incorporate 'The City of Hudson Fire Department Fund for the benefit of all Indigent and Infirm Firemen of the city of Hudson, and also their widows and orphans.' 1. BE IT ENACTED by the Senate and General Assembly of tees offre de- the State of New Jersey, That the board of trustees shall consist of two persons from each engine, hose and hook and ladder and exempt company of the city of Hudson, together with the chief and assistant engineers of the fire department of the city of Hudson. How and when elected. Vacancies, how filled Repealer. 2. And be it enacted, That a majority of the trustees shall constitute a quorum for the transaction of business. 3. And be it enacted, That the said trustees shall be elected by their several companies, at the same time and places that the chief and assistant engineers are elected each and every year hereafter. 4. And be it enacted, That the secretary of each company shall notify the secretary of the trustees of the name, age, residence and occupation, and term of service of any member elected to the board of trustees by his company, within ten days after such election, under a penalty of five dollars to be sued for and collected by said trustees in an action of debt. 5. And be it enacted, That in case of a vacancy by death or resignation of any trustee, the secretary of the company by whom he was elected shall notify the secretary of the trustees of the person elected to fill such vacancy, in the same way and manner as at a regular annual election, under the same penalty as in the preceding section to be recovered in like manner. 6. And be it enacted, That any company having a representative in the board of trustees, shall upon a vacancy becoming known, either by death or resignation, immediately cause an election to be held for the purpose of filling said vacancy. 7.And be it enacted, That all acts and parts of acts inconsistent with the provisions of this act, be, and is hereby repealed. 8. And be it enacted, That this act shall take effect imme An Act to incorporate the Jersey City Workingmen's Cooperative Association. 1. BE IT ENACTED by the Senate and General Assembly of Corporators. the State of New Jersey, That James Nichols, Martin Lewis, Luke Brennan, Henry Watson, Isaac Cazar, John Schaffell, C. Vandemark, John Gowans, Bernard Kane, shall be and they are hereby declared to be a body politic and corporate, in fact and in law, by the name of "The Jersey City Co- Name and oboperative Association," for the purpose of dealing in dry Ject. goods, clothing, groceries, provisions, and all articles that may be classed under the head of the necessaries of life, and for that purpose may hold such real estate as may be needful to carry on said business, or that may accrue to them in the course thereof, and may sell, mortgage, lease or otherwise dispose of the same. 2. And be it enacted, That the capital stock of the company Capital stock. shall be two thousand dollars, with the privilege of extending the same to twenty thousand dollars, divided into shares of twenty-five dollars each. 3. And be it enacted, That the business of the said company Business, how shall be carried on in the county of Hudson, and managed by carried on. the president, vice president, secretary and treasurer of the said corporation, and five directors who shall constitute a board of managers, all of whom shall be stockholders and residents of this state, who shall hold their offices for one year, and until others are elected in their stead, and every year thereafter at such time and place, and upon such notice as the bylaws may appoint, an election shall be held, at which election. every stockholder shall be entitled to one vote. 4. And be it enacted, That the persons herein named shall First manabe the first board of managers of said association, and shall' gers. By-laws, rules, &c Div dends. Books of accourt to be kept hold their offices until the second Monday of January, or until others are legally chosen and elected. 5. And be it enacted, That the stockholders of said company shall have the power to make by-laws for its government, not inconsistent with the laws of this state, or of the United States, and may appoint such subordinate officers as the business of the company may require. 6. And be it enacted, That the stock of said corporation shall be deemed personal property, and shall be transferred in such manner as the by-laws may prescribe, but no dividend shall at any time be made to the stockholders except from the profits of the company. 7. And be it enacted, That regular books of account shall be kept in the office of said company, in the city of Jersey City, to which books every stockholder shall have free access at all reasonable times for the purpose of inspection. 8. And be it enacted, That no stockholder shall be liable for debts incurred by the association for more than twenty-five dollars on each share. 9. And be it enacted, That the corporation hereby created shall possess general powers, and be subject to the general restrictions and liabilities set forth in "An Act concerning corporations," approved on the fourteenth day of February, eighteen hundred and forty-six, as far as the same are applicable, and the legislature may at any time hereafter modify or repeal the same. 10. And be it enacted, That this act shall take effect immediately. Approved March 27, 1868. Corporators. CHAPTER CCXLI. An Act to incorporate the Cumberland Lumber and Manufacturing Company. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Isaac W. Mulford, William G. Brooks, Jacob Bechner, Timothy Woodruff and George Wil bert Woodruff, and such other persons as may hereafter be associated with them, shall be and are hereby declared to be a body corporate and politic, in fact and in name, by the style and title of "The Cumberland Lumber and Manufacturing Name. Company," and shall be capable of instituting, conducting and defending suits and actions at law and in equity in all respects as natural persons, and that they may manufacture objec s. and buy and sell all kinds of lumber and building materials, and all kinds of articles that lumber forms a part, and all articles needed in the business authorized by this act, and buy or lease, and hold such real estate and property as the necessities of the said business shall require, and may dispose of the same by sale, loan or mortgage, at their pleasure. 2. And be it enacted, That the capital stock of said com- Capital stock. pany shall be thirty thousand dollars, with power to increase the same from time to time, by order of the board of directors, to one hundred thousand dollars, divided into shares of one hundred dollars each, which shall be deemed personal property, and shall be transferable in such manner as the bylaws of said company may direct. stock. 3. And be it enacted, That the persons above named are subscrpions hereby appointed to receive subscriptions to said capital stock, to catal at such time and place in the city of Bridgeton as a majority of them may appoint, giving at least three weeks' notice in the newspapers of said city; and when one hundred shares of said stock shall be subscribed for, and ten per centum on each share so subscribed for shall be paid in cash to said commissioners, they shall call a meeting of the subscribers to said stock for the purpose of organizing the company and electing directors; and when the company is organized, the said commissioners shall deliver to the president of the company all money, books and papers in their hands as such commissioners, and all the powers of said commissioners shall then cease. 4. And be it enacted, That the business of said corporation Election of dishall be managed by a board of directors, not less than three rectors. nor more than seven in number, all of whom shall be stockholders, and one of whom shall be president, who shall hold their offices for one year and until others are elected in their stead; and every year thereafter, at such time and place and upon such notice as the by-laws shall direct, an election shall be held, at which election every stockholder shall be entitled to one vote, either in person or by proxy, for every share of stock he may own; and in case it should happen at any time Powers of directors. How dissolved Proviso. that an election should not be made on the day on which, pursuant to this act, it ought to be made, the said corporation shall not for this cause be deemed to be dissolved; but it shall and may be lawful to hold such election on such other days as the company may direct. 5. And be it enacted, That the directors of said corporation shall have power to make by-laws for the management and government of said corporation, and may appoint such subor dinate officers as the business of said corporation may require. 6. And be it enacted, That when ten thousand dollars of said stock shall have been paid for, according to the provi sions of this act, it shall be lawful for said company to begin and prosecute their business under this act. 7. And be it enacted, That the said company may be dissolved 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 of them, or such person or persons as the stockholders shall appoint, shall be trustees for the settling all the affairs of the company, collecting and disposing of all its property and assets, paying its debts, and dividing the surplus among the stockholders in proportion to their respective interest in said stock. 8. And be it enacted, That this act shall take effect immediately. Approved March 27, 1868. Extension of time for com CHAPTER CCXLII. A Supplement to the act entitled "An Act to incorporate the Hoboken, Ridgefield and Paterson Railroad Company," approved March fifteenth, eighteen hundred and sixty-six. 1. BE IT ENACTED by the Senate and General Assembly of mencement the State of New Jersey, That the time at which the said Hoboken, Ridgefield and Paterson Railroad Company shall be required to commence their railroad be and the same is hereby |