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pany liable for any damage for which they would not otherwise be held legally liable and responsible.

2. And be it enacted, That this act shall take effect immediately.

Approved April 16, 1868.

CHAPTER CCCCLXXXV.

A Supplement to the act entitled "An Act to incorporate the Gloucester Turnpike Company," approved March fifth, eighteen hundred and fifty.

ing over

faster galt

1. BE IT ENACTED by the Senate and General Assembly of Penalty for the State of New Jersey, That if any person or persons shall or drivride or drive, or suffer to be ridden or driven, any horse or bridge at a horses, mule or mules, or other animal or animals, on or over than a walk. the bridge of said company over Great Timber Creek, at a faster gait than a walk, such person or persons so offending shall forfeit and pay for each and every such offence, the sum of five dollars to be recovered in an action of debt, with costs of suit, by any person who shall sue for the same, in any court of competent jurisdiction in this state, one-half of said penalty to be paid over, when collected, to the person by whom such suit was brought and the other half to be paid to the said company.

put up.

2. And be it enacted, That said company shall within thirty Notice to be days after the passage of this act, cause to be erected and put up in a conspicuous place upon said bridge, and within the view of travellers, thereon a notice as follows: "All persons are prohibited from travelling over this bridge at a faster gait than a walk, under a penalty of five dollars."

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4. And be it enacted, That all acts or parts of acts incon-Repealer. sistent with this act, are hereby repealed, and that this act shall take effect immediately.

Approved April 16, 1868.

Corporators.

Name.

Capital stock.

Powers and business of

CHAPTER CCCCLXXXVI.

An Act to incorporate the New Jersey Trust Company.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Albert Pearce, David E. Green, Robert M. Hening, Zebulon E. Carrington, William Green, and such other persons as may be hereafter associated with them, and their successors, are hereby constituted a body corporate, in fact and in law, under the name of "The New Jersey Trust Company," and by that name shall have perpetual succession, and may sue and be sued in any court whatever, with powers and privileges as are hereinafter provided.

2. And be it enacted, That the capital stock of said company shall be five hundred thousand dollars, in shares of one hundred dollars each; but when one hundred thousand dollars shall have been actually subscribed, and fifty thousand dollars paid in, in cash, the said company may organize and proceed to business under this act.

3. And be it enactea, That the said company shall have the company. power to guarantee the payment, punctual performance and collection of promissory notes, bills of exchange, contracts, bonds, accounts, claims, rents, annuities, mortgages, choses in action, evidence of debt and certificates of property or value, and the titles to property, real or personal, upon such terms as may be established by the board of directors of said company; to receive upon storage, deposit or otherwise, merchandise, bullion, specie, plate, stocks, bonds, promissory notes, certificates and evidences of debt, contracts, or other property, and to take the management, custody and charge of real or personal estate and property, and to advance moneys, securities and credits upon evidence of debt or any property, real or personal, on such terms as may be established by the directors of said company; but no rate of interest to exceed seven per centum per annum shall be charged or received by said company upon any transaction.

Principal of fice, where located.

4. And be it enacted. That the business and the corporate powers of said company shall be exercised by a board of nine directors, to be chosen as hereinafter provided, who shall elect from their number a president, five of which directors shall

constitute a quorum for the transaction of business, and the principal office of said company shall be located in the county of Hudson, in this state.

to capital

5. And be it enacted, That the persons named in the first Subscriptions section of this act shall be and they are hereby appointed stock. commissioners to open books for subscriptions to the capital stock of said company, at such time and place as they, or a majority of them shall deem proper, and for such amounts as in their judgment the business of the company may require, but for no less amount of subscription than one hundred thousand dollars, as herein before provided; the persons named in the first section of this act shall be directors of said company for one year after the passage of this act, and until others are elected in their stead; the remaining directors for the same period shall be elected by a majority in interest of the stockholders, voting at an election to be held under the inspection of said commissioners within twenty days from the closing of the subscription called for by them; and all the directors must be stockholders in said company.

and hold real

6. And be it enacted, That it shall be lawful for said com- May purchase pany to lease, purchase, hold and convey all such real or estate. personal estate as may be necessary to carry on their business, as well as such real or personal estate as they may deem it necessary to acquire in the enforcement or settlement of any claim or demand arising out of their business transactions, and to sell and exchange the same for other property as they may determine, that the interests of the company may require; and the said company are hereby authorized to make, execute and issue, in the transaction of their business, all necessary receipts, certificates and contracts, which shall bear the impress or stamp of the seal of the company, and shall be signed by the president, and countersigned by the secretary or treasurer thereof.

may be in

7. And be it enacted, That it shall be lawful for said com- Capital stock pany to increase the amount of its capital stock in the manner creased. provided in and by an act entitled "An Act to authorize the establishment and to prescribe the duties of companies for manufacturing purposes," approved March second, eighteen hundred and forty-nine, and by the fourteenth section thereof, and by the supplement or supplements to said act.

8. And be it enacted, That the stock of said company shall stock transbe transferable only on the books of the company.

ferable.

9. And be it enacted, That this act shall take effect imme

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May extend canal.

Rights, grants or privileges

fected nor in

CHAPTER CCCCLXXXVII.

A Supplement to the act entitled "An Act to incorporate a company to form an artificial navigation between the waters of Newark Bay and New York Bay."

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That it may be lawful for the New York and Newark Bay Ship Canal Company to extend their canal from the Newark bay across the marshes to a suitable point in the city of Newark, to construct one or more branches therefrom and thereover, and to increase their capital stock to such amount as shall be necessary to carry out the meaning of the original act and supplements thereto incorporating said company.

2. And be it enacted, That nothing contained in the act not to be af entitled "An Act to ascertain the rights of the state and of terfered with. riparian owners in the lands lying under the waters of the bay of New York and elsewhere in the state," approved April eleventh, eighteen hundred and sixty-four, or in any supplement or supplements thereto shall be so construed as to prevent, hinder or interfere with or in any way affect any of the franchises, powers, rights, grants or privileges given, granted or conferred by this act or the act to which this is a supple

ment.

3. And be it enacted, That this act shall take effect immediately.

Approved April 16, 1868.

CHAPTER CCCCLXXXVIII.

An Act in relation to the inspection of steam boilers, and for the better protection of life and property against accidents by steam boiler explosions.

appoint in

chief and dep

1. BE IT ENACTED by the Senate and General Assembly of Governor to the State of New Jersey, That the governor of the state of New spector-inJersey, shall within thirty days after the passage of this act, uty inspectors and hereafter as necessity may require, to fill vacancies, appoint an inspector-in-chief, and one suitable person in each congressional district, as deputy inspector; said deputy shall be a practical engi eer, and whose duty it shall be to inspect steam boilers in such congressional district, as hereinafter specified and directed; such inspector-in-chief and deputy inspectors shall hold their office for two years unless sooner removed by the governor for cause.

steam boilers

port of loca

2. And be it enacted, That every owner or owners of any Owners of steam boiler in use situated within this state, shall on or be- to make refore the first day of July next, and annually thereafter as tion of boiler. the inspector-in-chief may prescribe, report to the deputy inspector of the district in which the same may be, the location of such steam boiler; and thereupon and within sixty days at farthest, the said deputy inspector shall proceed to inspect such steam boiler in such manner as shall be designated by the rules and regulations of the inspector-in-chief, and all apparatus and appliances connected therewith; and that such boiler shall have attached to it a lock-up safety valve; such valve to be taken wholly from the control of the person or persons engaged in using or working the boiler, and to be set by the inspector to blow off steam at a point of safety to be determined by him; the said lock-up safety valve shall fulfill all the conditions now adopted by the board of supervising inspectors of the United States in reference to said safety valves.

uty inspector.

3. And be it enacted, That said deputy inspector shall limit Duty of depthe pressure of steam upon every such boiler, and shall certify such inspection and such limit of pressure to the owner, or one of the owners of such boiler, and also to the engineer in charge of the same; in limiting the amount of pressure whenever the boiler under test will with safety bear the same,

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