Moy have four Co missioners Repealer. CHAPTER CCCXIX. A Supplement to the act entitled "An Act relative to commissioners for taking the acknowledgment and proof of Deeds," approved April fifteenth, eighteen hundred and forty-six. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That hereafter it shall be lawful to appoint four commissioners for taking the acknowledgment and proof of deeds, in the third ward of the city of Hudson, in the county of Hudson. 2. And be it enacted, That so much of the act to which this is a supplement and of the supplements thereto, as is inconsistent with the provisions of this act, be and the same are hereby repealed, and that this act shall take effect immediately. Approved April 3, 1868. Corporators. CHAPTER CCCXX. An Act to incorporate the Squancum and Point Pleasant 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the subscription books of the capital stock of "The Squancum and Point Pleasant Turnpike Company" shall be opened by John Arnold, Sydney Forman, Thomas Cook, William Curtis, William B. Hill, John J. Forman, William F. Brown, Tyler Allen, Charles Maxson, Sydney Herbert, John Frazer, Jacob Curtis, William Shatto, Isaac Nesbit and William Murrey, or a majority of them, are hereby appointed commissioners to receive subscriptions to the said stock, at such times and such places as they, or a majority of them, may direct, giving notice at least ten days prior to the opening of said books, by publishing the same in at least two of the newspapers published in this state. 2. And be it enacted, That the capital stock of said com- Capital stock. pany shall be ten thousand dollars, with liberty for said company to increase the same to a sum not exceeding twenty thousand dollars, and shall be divided into shares of twentyfive dollars each, and that when fifty shares shall be subscribed for, the persons holding the same shall be and they are hereby incorporated into a company by the name of "The Squan-n cum and Point Pleasant Turnpike Company," and by that name shall have, enjoy and exercise all the rights, powers and privileges appertaining to corporate bodies, and necessary to carry the objects of said company into effect. Capital, how for 3. And be it enacted, That at the time for subscribing for. said stock, five dollars shall be paid upon each share sub-paid in, and scribed for to the commissioners, or any of them, which non-payment. money shall be paid over to the treasurer of the company as soon as one shall be appointed, and the residue of the subscription shall be paid in installments, at such times, and at such places, and to such persons as the president and directors of the company shall from time to time direct, or give public notice thereof in manner aforesaid; and upon failure of the payment thereof as so directed, the said president and directors shall have power to forfeit the shares of each and every person so failing to pay the said installments, or any of them, to and for the use of said company; provided, that the Proviso. stockholders shall, upon request, have the right to pay the stock subscribed for, except the first installment, by work upon said road, under such regulations, at such times and upon such notice, as the directors may determine. 4. And be it enacted, That if the number of shares here- Limitation. inbefore made necessary for the incorporation of the said company be not subscribed for within three years from the time of opening the said books, this act and all the subscriptions under it shall be null and void; and the said commissioners, after deducting thereout the expenses incurred, shall return the residue of the money paid in to the respective subscribers or their representatives, in proportion to the sums paid in by them. how elected. 5. And be it enacted, That when fifty shares of said stock Directors, and shall be subscribed for, the said commissioners shall call a meeting of the stockholders, giving at least six days' notice of the time and place of said meeting, as herein before President. Powers of directors directed, with regard to the opening of said books, at which meeting the subscription books shall be laid before the stockholders, who shall thereupon proceed to elect by ballot five directors, a majority of whom shall be citizens of this state, to manage the affairs of said company for one year, at which election the said commissioners, or a majority of them, shall be judges; and at the expiration of that term, and annually thereafter, upon like notice to be given by the directors for the time being, the said stockholders shall elect by ballot the same number of directors, a majority of whom shall be citizens of this state as aforesaid; and at every such election, and in all other cases in which the stockholders shall be entitled to vote, a vote may be given for each share of the holder or holders thereof, either in person or by proxy. 6. And be it enacted, That within twenty days after the annual election as aforesaid, the said directors shall elect from among their number, a president of their said company, who shall be a citizen of this state and a resident of the county of Monmouth or Ocean, who shall hold his office for one year and until another shall be elected, and receive such compensation for his services as a majority of the said directors may direct, and shall be the presiding officer at all meetings of said directors, and shall have the casting vote when they shall be equally divided; he shall have charge of the seal of the company, and shall appoint the judge or judges of all elections of stockholders, or in case of his death, absence or inability so to do, the said directors shall appoint some other suitable person, who for the time being shall possess the same powers and authority, and perform all duties herein prescribed. 7. And be it enacted, That the said directors, or a majority, may supply any vacancy in the interval between the annual elections by death, resignations, removal or refusal to act of any president or director, and may appoint a treasurer, who shall be a citizen of this state and a resident of the county of Monmouth or Ocean, and all officers, agents, superintendents or other servants that may be required to transact the business of the company, with such compensation as they may determine upon, and may exact from them such security for the due performance of their respective trusts as they may think expedient; they shall regulate the tolls, and have the superintendence and direction of all receipts and disbursements, and all other affairs of the company, and may make and enforce such ordinances and by-laws as they may think ment. 8. And be it enacted, That at the annual meeting of the Annual state stockholders, it shall be the duty of the president and directors of the preceding year to exhibit to the stockholders a statement of the affairs of the company during said term. ings of the 9. And be it enacted, That special meetings of the stock- Special meetholders may be called by order of said president or three stockholders. of the directors, or by the stockholders owning one-fourth of the whole stock of the company, by giving notice of the time and place of holding the same, as herein before directed with regard to the annual meetings, which said notice shall specify the particular object of the meeting, but that no business of the company shall be transacted at such special meeting, unless a majority in value of the stockholders attend and concur therein, who may require the books, accounts and all other papers and proceedings of the company to be exhibited to them by the president and directors. elect officers not to dissolve 10. And be it enacted, That if from any cause any election Fallure to herein before named shall not be had at the time specified by this act, the same may be made at any other time upon notice as aforesaid, and that until such election be had the officers of the preceding year shall continue to hold their respective offices until others be elected in their stead, and that this charter shall not be defeated or avoided by reason of the irregularity or want of such election. Power to con make a turn 11. And be it enacted, That it shall and may be lawful for said company to construct and make a turnpike road from struct and Squancum, in the county of Monmouth, to Point Pleasant, in pike. the county of Ocean, beginning at the terminus of the Squancum turnpike at Squancum, in the county of Monmouth, and ending at Point Pleasant, in the county of Ocean, at or near the residence of John Arnold, which said turnpike road shall be constructed on and along the public highway leading from Squancum to Point Pleasant, except in those places where said public highway is not straight, then and in those places said company shall have power to construct the said turnpike road where they may deein proper, and that the width of said. turnpike road may be made equal to fifty feet, and to be measured from the centre of the present public road upon which Proviso. Proviso. &c. it may be made; provided, that before said company shall construct the said turnpike road aforesaid along the highway aforesaid they shall pay the respective owners of the lands over which the said highway selected for constructing the said turnpike upon now passes all damages which said owners will sustain by reason of the construction of said turnpike road; and in case the said company and any of the said owners cannct agree upon the amount of said damages, then the said damages shall be ascertained and determined as nearly as may be in the manner hereinafter provided for, for ascertaining and determining the damages which any land owner or owners shall sustain for the taking of stone, gravel, and other materials from his or her lands for the constructing and maintaining said turnpike road; provided also, that the said company shall have power to take only the right of way over the lands whereon the road is to be constructed, paying damages which the owner will sustain thereby; and the commissioners hereinafter named, if appointed, shall have power to assess damages for the right of way only. Width of road, 12. And be it enacted, That said turnpike road shall be constructed at least twenty-four feet in breadth along the middle as near as may be of the said highway, and shall be sufficiently arched and drained to make and keep the same dry, and at least twelve feet thereof shall be so graded that in its progress no part of said road shall rise above an angle of six degrees with the plane of the horizon, and the said company shall make good and sufficient bridges along the line of said road, not less than twelve feet in breadth; and where the said road in passing over low ground shall be raised so much at the margin or side as to render vehicles drawn by horses and passing thereon liable to overset, the said company shall cause railings to be erected and maintained on the sides, so as to prevent said vehicles and horses from running off. May enter on lands, &c. 13. And be it enacted, That it shall be lawful for said company, their officers, superintendents, engineers and workmen, with carts, wagons and other carriages, and with beasts of burden and draught, and all necessary materials, tools and implements, to enter upon all lands contiguous or near to the route of said road, doing as little damage as possible, repairing any breach they may make in the enclosure thereof, and to make all ditches and underdrains across and through such lands necessary for proper draining such road; and that when such company or its agents cannot agree with the owner |