Payments for improve ments. Treasurer to give bonds. Compensation to commissioners. Names of ers. pers printed in the county, said work to go to the lowest bidders, with proper securities for faithful performance; and the cost of widening, regulating and improving said road shall be adjusted (each section to be considered separately) by the commissioners hereinafter named in an equitable assessment, which shall be a lien upon the lands, to be paid by the owners on the line, upon notice given by the commission, the lands fronting on the improvement to be assessed in proportion to the benefit received. 8. And be it enacted, That all payments for said improvement, as well by land owners assessed for benefit received, as by said commission debited for work done, shall conform to the mode regulated by the laws in force touching avenue assessments now governing the town of Union; the needful powers and coördinate prerogatives being hereby granted unto said commissioners to apply said laws in so far as the same are practically applicable and pertinent to the commission created by this act. 9. And be it enacted, That the treasurer of the town of Union be and he is hereby empowered to act as treasurer of said commission, or, in the event of his disability or disinclination to serve, then and in that case said commissioners may name a treasurer, who shall enter into bonds with sureties in double the amount of moneys he may as such treasurer receive, his duties being to receipt for assessment moneys received, and to disburse the same by order of the commissioners for the purposes and objects of the trust, the fund to be denominated and accounted for by him as the "road fund." 10. And be it enacted, That the compensation of said commissioners shall in no case exceed four dollars per day for each day actually employed in the duties of said trust. 11. And be it enacted, That James Gardner, of the town commission of Union; Anthony H. Ryder, of the township of North Bergen, and George Sneith, of the township of Union, be and the same are hereby constituted the said commission to exercise the powers and to execute the duties thereof; and should one or more of said commissioners neglect or decline to serve, or die before said duties are performed, the court of common pleas may, upon the happening of any of said events, appoint, as often as may be necessary, some fit person or persons in his or their place, which newly appointed commissioner or commissioners shall take the same oath, have the same powers, perform the same duties, and receive the same compensation as is in this act prescribed. 12. And be it enacted, That this act shall be deemed a public act, and shall take effect immediately. Approved April 9, 1868. CHAPTER CCCXCIII. An Act to authorize "Sparkman Place and King," a foreign corporation, to hold, possess, and dispose of real and personal property within this state. real estate in 1. BE IT ENACTED by the Senate and General Assembly of May hobl the State of New Jersey, That "Sparkman Place and King," this state. a corporation incorporated under and by virtue of the laws of the state of New York, be and the same is hereby authorized and empowered to purchase, own, hold, possess, mortgage, sell and dispose of real and personal property within this state; and an office of said corporation shall be kept in this state where legal process may be served on it. 2. And be it enacted, That this act shall take effect immediately. Approved April 9, 1868. CHAPTER CCCXCIV. A Supplement to an act entitled "An Act to provide for the organization of the New Jersey Home for Disabled Soldiers," approved April fourth, anno domini eighteen hundred and sixty-six. 1. BE IT ENACTED by the Senate and General Assembly of Appropriation the State of New Jersey, That the sum of ten thousand dollars, increased. by the second section of the act to which this is a supplement appropriated to defray the expenses of said Home, be increased to twenty-five thousand dollars per annum. 2. And be it enacted, That this act shall take effect immediately. Approved April 9, 1868. May borrow money on bond and mortgage.. CHAPTER CCCXCV. A Further Supplement to an act entitled "An Act to incorporate the Manalapan and Freehold Turnpike Company," approved March eighteenth, eighteen hundred and sixtythree. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the said the Manalapan and Freehold Turnpike Company shall have power to borrow such sum or sums of money from time to time as shall be necessary to discharge any indebtedness of said company contracted in the construction or repair of their road, in whatever form such indebtedness may now be, not exceeding the sum of ten thousand dollars, and to secure the repayment thereof by the execution and negotiation of a bond, secured by a mortgage on the said road, lands, privileges, franchises and appurtenances of and belonging to said company, which mortgage shall constitute a first lien thereon. 2. And be it enacted, That this act shall take effect immediately. Approved April 9, 1868. CHAPTER CCCXCVI. An Act to incorporate the Franklin Lake Company. WHEREAS, the rapid increase in population of the city of Preamble. Paterson and of the village of Hackensack render it necessary that additional facilities and means be provided for supplying their inhabitants with water for the extinguishment of fires, sanitary purposes and other public uses; and whereas, the legislature deem said public uses call upon them to give such aid in supplying the same as they can give by authorizing the company hereby incorporated, to take, use and dispose of the waters hereinafter mentioned, as hereby authorized, and deem the taking, using and disposing of the same as hereby authorized, to be necessary for the health, comfort, safety and convenience of the public; therefore, 1. BE IT ENACTED by the Senate and General Assembly of Corporators. the State of New Jersey, That John Ryle, Abraham A. Fonda, Andrew Derrom, Thomas Thorp and John C. Ryle and such other persons as may hereafter be associated with them, shall be and are hereby constituted and declared to be a body corporate and politic in fact and in law, by the name of "The Name. Franklin Lake Company," and by that name and style shall be capable of acquiring and purchasing any real or personal estate which they or their successors may deem necessary or expedient to carry out the objects of this incorporation. 2. And be it enacted, That the capital stock of said com-Capital stock. pany shall be two hundred and fifty thousand dollars, which shall be divided into shares of one hundred dollars each which shall be deemed personal property and transferable in such manner as the said corporation shall by their by-laws direct; which capital the company may increase to five hundred thousand dollars in such manner as they may deem proper. ers to open 3. And be it enacted, That the above named persons or a Commissionmajority of them, shall be commissioners to open books to re- books of subceive subscriptions to the capital stock of said corporation, at scription. such time or times, place or places, in the city of Paterson or village of Hackensack, or both, as they or a majority of them may think proper; (the books for subscription shall be kept open for at least three days from ten o'clock in the forenoon their powers. until five o'clock in the afternoon, upon twenty days notice being given in one newspaper printed in Paterson and one newspaper printed in Hackensack), and at the time of subscribing, ten per centum shall be paid on each share when the same is subscribed for, to the said commissioners or one of them, and as soon as ten hundred shares of the said stock shall be subscribed, such commissioners shall give thirty days notice in a newspaper printed in Paterson and one printed in Hackensack, for a meeting of the stockholders to choose five directors, a majority of whom shall reside in this state; and Directors, and such election shall be had 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 the capital stock entitling the holder thereof to one vote, and the above named persons or any three of them, shall be inspectors of the first election of directors of the said corporation, and shall certify under their hands the names of those duly elected, and deliver over the subscription books and money paid in to the said directors, deducting a reasonable compensation for their own services; and the time and place of holding the first meeting of the directors shall be fixed by said inspectors, and the said directors shall, as soon as may be after the election, choose a president out of their own number, who shall be a resident of this state, and the directors chosen at each annual meeting thereafter on the first Monday in June, or on such other day as the directors for the time being shall designate by a publication in the papers as aforesad, at least thirty days preceding the day fixed, shall elect a president as aforesaid, and in case of death, resignation, removal or disability of the president, or any director, the vacancy may be filled by the directors for the remainder of the year; if more shares of stock are subscribed than are sufficient to make up the capital of two hundred and fifty thousand dollars, the commissioners are hereby authorized to apportion the capital among the subscribers in such proportions as said commissioners may deem proper; and the said company when organized, shall have power to erect and maintain all necessary water works, fountains, reservoirs and conduits, and make all such excavations, embankments, structures and canals, and take, obtain, purchase or secure the use of, or the right to use, or divert and appropriate any springs, streams, ponds, lakes, rivers and other waters in the counties of Bergen, Passaic and the streams leading from Franklin lake where it runs through |