president or cashier thereof, shall knowingly or wilfully, issue, or cause or suffer to be issued, bills or notes of said corporation, exceeding double the amount of its capital. stock, actually paid in, such president or cashier shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be punished by imprisonment not less than one year, nor more than five years, in the discretion of the court.

statement to

18. And be it enacted, That it shall be the duty of said Monthly corporation, on the first Monday of every month after be made. commencing the business of banking, to publish in one or more of the newspapers published in the county of Union, a statement, under oath or affirmation, of the actual condition of said corporation, conforming as nearly as may be with the annual statements now required by law, and shall within ten days after making such statement, forward a duplicate thereof to the secretary of state, to be by him filed in his office; and if any president, cashier or director shall knowingly and wilfully, falsely, swear or affirm to any such statement, he shall be deemed guilty of perjury, and be liable to the pains and penalties thereof.

amount of

capital paid

in to be filed.

19. And be it enacted, That it shall not be lawful for the Amdavit of said corporation to issue any bills or notes, or otherwise enter upon the business of banking, until an affidavit or affidavits shall have been made and filed in the office of the secretary of state, stating, that twenty-five thousand dollars of the capital stock of said corporation had been subscribed for, and paid in conformable to the provisions of this act.

20. And be it enacted, That this act shall go into effect Limitation. immediately, and continue in force for twenty years; but it shall be lawful for the legislature at any time hereafter, to alter, modify, or repeal the same, whenever in their opinion the public good shall require it.

Approved March 23, 1859.

Names of corporators.

Amount of capital stock.

Commis

sioners to

scriptions.

CHAPTER CCVII.

AN ACT to incorporate "The Weequahick Lake Association."

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Joseph Battin, Henry Meeker, John Young, James J. Mapes, John R. Pierson, William F. Day, John C. Beardsley, Oliver S. Halsted, Junior, John Teese, William Price and George R. Chetwood, and their associates and successors, shall be and they are hereby constituted a body politic and corporate by the name of "The Weequahick Lake Association," with the power to purchase, hold and improve such real estate as may be necessary for the purposes of said society, and power to sell and convey the same, and with all the powers, rights and incidents of a corporation under the laws of the state of New Jersey.

2. And be it enacted, That the capital stock of said company shall be thirty thousand dollars, with the privilege of increasing the same to fifty thousand dollars, which shall be divided into shares of twenty-five dollars each, and paid in by the stockholders at such time and in such manner, and in such instalments as the directors of said company may direct, and in such penalties for neglecting the pay ment of such instalments as the said directors shall deem advisable; and such shares shall be deemed personal property, and be transferable in such manner as the company by their by-laws may appoint; provided, that at least thirty days' notice in writing shall be given to each of the stockholders of the time when the shares are required to be paid in.

3. And be it enacted, That the above named person, or a receive sub majority of them, shall be commissioners to open books and receive subscriptions to the capital stock of said company, at such time or times, and place or places, as they, or a majority of them, may think proper, giving notice

thereof at least two weeks, by publishing the same for two weeks in some newspaper published in this state, and circulating in the counties of Essex and Union; and as soon as the sum of ten thousand dollars shall be subscribed and paid in, a like publication as aforesaid, for the space of two weeks, shall be given for the meeting of the stockholders, to choose eleven directors, who shall hold their office for one year, and until others are elected.

tion books,

delivered to

directors.

4. And be it enacted, That the said election shall be cer- Subscriptified by the said commissioners, or a majority of them, &c., to be who shall thereupon deliver over to the directors elected as aforesaid the subscription books and moneys paid in, at such time and place as shall be appointed by the commissioners, or a majority of them, notice whereof shall be given to the said directors, and who shall be thereupon authorized to hold their first meeting and commence business.

sioners to

lease tract of

land.

5. And be it enacted, That Joseph Battin, Henry Meeker, CommisJohn Young, James J. Mapes, John R. Pierson, William F. Day, John C. Beardsley, Oliver S. Halsted, junior, John Teese, William Price and George R. Chetwood, or a majority of them, are hereby appointed commissioners to lease or purchase within one year from the date of this act such tract or parcel of land for the uses and purposes of this association as they may deem suitable therefor, which tract or parcel, when so leased or purchased, shall be leased or conveyed to said association, and shall be the only land held and used by them for the purposes contemplated by the provisions of this act; provided, such tract of Proviso. land shall be located in the township of Clinton, in the county of Essex.

powers of

6. And be it enacted, That after the land needed for the Duties and purposes of said association shall be leased or purchased as directors. aforesaid, all the affairs of the company shall be managed by eleven directors, to be chosen by the stockholders annually at such time and place, in such manner, and upon such notice as by the by-laws of said company may be directed, who shall serve for one year, and until others are

Objects of association.

Proviso.

chosen in their stead; and the said directors shall from time to time elect a president from their (their) body, and shall also elect and employ such other officers as they may deem necessary, and make all such by-laws, rules and regulations as they may think proper for the regulation and government of said association, for admission to their grounds; and for the purpose of maintaining order and preventing disturbances in and about the grounds shall have police jurisdiction within quarter of a mile of the boundaries thereof, with power to suppress the sale of ardent spirits, or to prohibit gambling, or any breach of the peace or laws of the state; and the said company shall not suffer or permit their grounds to be opened for pleasure (or) travel on the Sabbath day, nor suffer the lake, or said grounds, to be used for skating, fishing, or boating on the Sabbath day.

7. And be it enacted, That the object of the said associa tion shall be to improve the swamp and low lands lying above or about the Stone bridge, on the creek known as Bound creek, in the township of Clinton, in the county of Essex, by overflowing any portion of the same, by means of a dam, or otherwise, to be erected and built on said Bound creek; and for the purpose of carrying out the provisions of this act, the said association are hereby authorized and empowered to erect a dam above the Stone bridge on Bound creek, in the township aforesaid, of such height as will permit the overflow thereof to pass under the arches of said bridge, or otherwise to create an artificial lake, by overflowing said swamp and low lands; and to lay out the lands adjoining thereto, or any part thereof, into squares, parks, walks and other divisions, making such improvements as may be found or deemed necessary, convenient or ornamental; provided, the land thereby used or overflowed shall be previously leased or purchased for the use of the said association, as hereinbefore provided; and for the further carrying out the objects of this act the said association are hereby authorized and empowered to collect and receive a revenue from the sale of ice taken

from said lake, and by the hiring of the grounds so leased or purchased as aforesaid, for boating, fishing, skating, pic-nics, drives, and the general occupation thereof as a grove.

may hold

8. And be it enacted, That for the purpose of further Association carrying out the provisions of this act, said association real estate. shall be allowed to purchase or lease in the manner aforesaid, and to hold such real estate, and shall also be allowed to purchase and hold such personal estate as may be necessary for the purposes of said association.

9. And be it enacted, That this act shall take effect imme- Limitation. diately, and shall continue in force for forty-nine years. Approved March 23, 1859.

CHAPTER CCVIII.

AN ACT to incorporate the American Telegraph Company.

corporators

1. BE IT ENACTED by the Senate and General Assembly of Names of the State of New Jersey, That Edward Cooper, Abraham S. Hewitt, Cyrus W. Field, Hiram O. Olden, Edward M. Archibald, Francis Morris, Robert W. Russell, and John H. Purdy, and such other persons as may hereafter be or become stockholders in the manner hereinafter provided for, shall be and are hereby ordained, constituted, and declared to be a corporation and body corporate and politic, in fact and in name, by the name of "The American Tele