stock of said company, shall be taken at a valuation approved by the persons holding a majority of all shares of the stock of said company. ed in payment for subscrip tion, at what valu 10. And be it enacted, That the corporation hereby created, ation to be shall possess the general powers and be subject to the re- Powers, &c. strictions and liabilities set forth in an act entitled "An act concerning corporations," approved February fourteenth, eighteen hundred and forty-six, and the several supplements thereto, so far as the same are applicable. 11. And be it enacted, That this act shall take effect immediately. Approved March 18, 1874. CHAPTER CCLXIV. Supplement to an act entitled "An act to incorporate the Hudson City Stock Yard and Market Company," ap. proved February twenty-seventh, eighteen hundred and sixty-eight. 1. BE IT ENACTED, by the Senate and General Assembly of the State of New Jersey, That said company shall hereafter be known by the name and title of the "National Packers' Corporate Association," and shall have all the powers and privileges, and name. be subjected to all the restrictions of the act to which this is a supplement. vested. 2. And be it enacted, That in addition to the powers now Additional vested in said company, the board of directors of said com- powers pany, shall (for the purpose of preserving the public peace) have all the powers of arrest now vested in the police of Jersey City, and be subject to the same restrictions and liabilities. ment. 3. And be it enacted, That the eighteenth line of the Amendsecond section be amended by striking out the words "within the limits aforesaid," and insert, "within the county of Hudson." 4. And be it enacted, That for the purposes of the cor- Empowerporation, said company may buy, charter and equip as many boats. ed to buy May purchase and hold real boats as may be necessary to carry on their business in and about the harbor of New York and the Hudson River, and may construct upon lands they may buy or lease for the purpose, docks, wharves and piers; provided nothing in this act contained shall be so construed as to interfere with the rights of the state to lands under water. 5. And be it enacted, That it shall and may be lawful for the said corporation to purchase and lease such real and perand person-sonal estate as it may deem for its purposes in this proper al estate. and other states. 6. And be it enacted, That this act shall take effect im Names of Corporate name. CHAPTER CCLXV. An act to incorporate the Citizens' Gas Light Company of the City of New Brunswick. 1. BE IT ENACTED by the Senate and General Assembly of the corporators State of New Jersey, That Miles Ross, Joseph F. Fisher, Theodore Booraem, William Reiley, junior, John Van Deursen, Charles C. Wells and John Runyon, and all and every person or persons, who may become stockholders in the cap. ital stock hereinafter mentioned, their successors and assigns, are hereby constituted and made a body politic and corporate, in fact and in law, by the name of "The Citizens' Gas Light Company of the City of New Brunswick," and by the said name said corporation shall have power to sue and be sued, plead and to be impleaded, contract and be contracted with, and to make, manufacture and sell illuminating gas, to be made from coal or other material, for the purpose of lighting roads, streets, buildings, manufactories and public grounds, within the limits of the city of New Brunswick and the township of Raritan, in the county of Middlesex; and that under and by the aforesaid corporate name and style the said corporation shall have perpetual succession and shall have power and authority to enter into and to execute any and all contracts, agreements, undertakings and covenants, for the furtherance of the objects for which said corporation was created, with power and right to enforce the same in all proper ways, and by all proper means under the laws of this state; and shall be capable of purchasing, taking and holding any estate, real or personal, and necessary to give effect to the specified purpose of this corporation, for the accom. modation of their business and concerns on which it may be necessary to acquire and hold for the purpose of securing debts which may become due to it in the regular business of said corporation, and also to purchase and hold any and all patents and patent rights necessary for the purpose of carrying out the object and intent for which such corporation is created. make for laying 2. And be it enacted, That the said corporation shall be, Powers, &c. and is hereby empowered and authorized to enter upon and May enter make and all necessary any excavations for the laying down excavation of gas pipes and conductors, and to erect all necessary posts, pipe. burners, lights and reflectors, in any and all of the roads. streets, highways and public grounds, in the said city of New Brunswick, and the said township of Raritan, and to do all things necessary and proper to be done for the purpose of lighting the same, and the dwellings, stores and other buildings, in the said city of New Brunswick, and in the said township of Raritan; provided, that the public travel shall not at any time be unreasonably and unnecessarily ob- Proviso. structed and impeded thereby; and the said corporation shall put and leave such streets, roads, highways and public grounds, in as good, perfect and permanent condition as the same were in before the laying of said pipes, and erection of said posts. 3. And be it enacted, That the capital stock of said cor- Capital poration shall be fifty thousand dollars, with the privilege stock. of increasing the same to any sum not exceeding two hundred thousand dollars, to be divided into shares of fifty dollars each, which shall be deemed personal property, and transferable on the books of the said corporation, as the said company shall by their by-laws direct. Van Commis may open books sioners to 4. And be it enacted, That Miles Ross, Theodore B. Boor- Names of aem, Joseph F. Fisher. William Reiley, junior, John Deursen and Charles C. Wells, or a majority of them, open books to receive subscriptions to the capital stock subscrip and receive tions. When to commence of said corporation at such time or times, and at such place or places in the said city of New Brunswick, and in the said township of Raritan, as they or a majority of them may think proper, by giving notice of the same in a public newspaper, published and circulated in the said city of New Brunswick, at least two weeks previous to the time appointed, and whenever five thousand dollars of the capital stock shall have been subscribed, and shall be paid or secured to be paid, it shall and may be lawful for the said corporation to commence business, and the above named persons or a business majority of them, may then give notice of a meeting of the stockholders to choose five directors who shall be stockholders in their own right and name, and all 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 proxy, each share of the capital stock entitling the holder thereof to one vote, and the above named persons or a majority of them, shall be inspectors of the first election of directors for said corporation, and shall certify under their hands the names of the persons elected, and thereupon deliver the subscription books to the said directors; said directors shall hold their office for one year and until others are elected in their stead, and shall fix the time and place of holding the annual meetings for the election of directors, notice of which shall be given in a public newspaper, published and circulated in the city of New Brunswick, at least one week before said election, and the directors chosen at any such meeting shall, as soon as may be thereafter, choose out of their own number a president, and in case of the death or resignation of the president or of any director, such vacancy or vacancies may be filled for the remainder of the year by a majority vote of said board, and in case of the absence of the president, the said board or a majority of them, may appoint a president pro tempore, who shall have such powers and functions as the by-laws of said corporation shall provide. Director's term of office. Corpora tion not 5. And be it enacted, That if at any time an election shall not be held on the day herein appointed, the corporation dissolved if shall not be dissolved for that cause, but an election shall not held. be held in such manner as directed by the by-laws, at any time within one year. election 6. And be it enacted, That a majority of the directors of directors to transact' said corporation shall be competent to transact all business, Majority of and shall have power to call in the capital stock of said com- shall be pany, in such installments and at such times as they may competent direct, not exceeding ten per centum at any one time, and business. not less than thirty days after the previous installment; and in case of non-payment of any such installment, or any one of them, to forfeit the share or shares upon which such default shall arise; and also to make and provide such by-laws and regulations, as to them shall appear needful, touching the management of the stock, property, estate and effects of said corporation; and further shall have power to elect or appoint as many officers, superintendents, agents, clerks and servants, as to them shall seem needful; and to establish and fix their salaries, and also the salary of the president; and shall have full power and authority, from time to time, to open the books for further subscription, until the whole capital stock is taken. pipes. 7. And be it enacted, That if any person or persons shall Penalty for willfully injure any conduit, pipe, gasometer, or other things injuring appertaining to the works of the company, or shall obstruct the same, the person so offending shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall be punished by fine not exceeding two hundred dollars, or imprisonment not to exceed one year, or both; provided, that no such criminal prosecution shall impair the right of the company to recover damages by a civil suit. Proviso. into cer 8. And be it enacted, That the said corporation are hereby May enter authorized and empowered to enter into contract with any tain conother company to furnish said corporation with gas for the tracts. purpose before mentioned, on such terms as may mutually be agreed on. row money 9. And be it enacted, That the said corporation shall have May borpower to borrow such sum or sums of money, from time to time, as shall be necessary or expedient, and to mortgage their property and franchises, or otherwise to secure the payment thereof, and to execute all necessary securities therefor, with interest thereon, not exceeding seven per centum per annum, and to sell and dispose of any bonds, obligations or assurances which they may issue, to secure the payment of the money so borrowed as aforesaid, at any rate of price they may be able to obtain for the same, without said obligations being in any way invalidated thereby. 10. And be it enacted, That the said company shall cause |