and Maria, as tenants in common, his said sons to have each two shares thereof, and his said daughters each one share; AND WHEREAS a certain portion of the said real estate, being the farm purchased by the said Henry J. Van Saun of Jacob Van Saun, is now lying unproductive and useless to the said devisees, or any of them; AND WHEREAS if the same could be sold, the proceeds thereof might be vested to advantage to the great benefit of all parties interested therein; AND WHEREAS, the said executors are not authorized nor empowered by the said will to sell or convey real estate-therefore, ered to sell SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That it shall be lawful for the said John J. Van Saun, Executors of Abraham Kip and Jacob J. Van Saun, executors as aforesaid, H. J. Van to make sale of the said real estate of their testator, being the Saun empow farm situate in the township of New Barbadoes, in the county certain real of Bergen, purchased by the testator, Henry J. Van Saun, in estate. his life time, from Jacob Van Saun, and conveyed part by a deed of the said Jacob Van Saun, and Hester his wife, dated the twenty-fourth day of July, in the year of our Lord, one thousand eight hundred and two; and part by a deed from the said Jacob Van Saun, by a deed bearing date, the twentythird day of March, in the year of our Lord, one thousand eight hundred and fifteen, as soon as conveniently may be at public vendue, giving public notice thereof, as in case of executors and administrators, for the highest sum that can be obtained for the same; and when sold, to make and execute in their names as executors, a good and sufficient deed of conveyance, according to the estate and title which the said Henry J. Van Saun, at the time of his death, had in and to the same. SEC. 2. And be it enacted, That the said executors shall distribute the proceeds of the said sale, after paying out of the Distribution same the expenses thereof, to the children of the said Henry of proceeds of J. Van Saun, in the same manner and proportion as the real sales. estate is devised among them in the will of the said Henry J. Van Saun, deceased; and that the shares of Maria Van Saun, John Van Saun and Henry Van Saun, the minor children of the said Henry J. Van Saun, shall be paid to their respective guardians, such guardians first giving sufficient security to be approved of by the judges of the Orphans' Court of the county of Bergen, for the same, in the same manner as guardians are bound to give bond according to law, for the estates of their wards. Passed February 21, 1833. Preamble. Style of incorporation. Powers. Objects for which real estate may be held. Limitation of amount. company. AN ACT to incorporate the New York and Bergen Dairy Company. WHEREAS Robert Swartwout and others, associated as a company, under the name of the New York and Bergen Dairy Company, for the purpose of supplying the city of New York, with pure and wholesome milk, have, by petition, prayed to be incorporated-wherefore, SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That the said Robert Swartwout, David B. Ogden, William C. Holly, Henry Aaron, and Charles Kinsey, and their associates, shall be, and they are hereby constituted a body corporate, by the name and style of the New York and Bergen Dairy Company, and by that name shall be known in law, and have power to sue and be sued, and to defend and be defended in all courts of law and equity, and in all actions and matters whatsoever, and may have a common seal, and renew and alter the same at their pleasure, and by the same name shall be, and hereby are, made capable in law to purchase and enjoy to them and their successors, lands, tenements, and hereditaments, goods, chattels and effects, of what nature or kind soever, necessary for the purpose of this corporation, and the same to grant, demise, alien, or dispose of at pleasure, for the benefit of the said company and their legal representatives, in proportion to their respective shares. SEC. 2. And be it enacted, That the lands and tenements which it shall be lawful for the said corporation to purchase and hold, shall be such only as may be deemed by them requisite and necessary for the purposes of carrying into effect the objects of this corporation, shall be located in the county of Bergen, and the original cost of which shall not exceed the sum of one hundred thousand dollars; but it shall nevertheless be lawful to take and hold any real estate or securities bona fide mortgaged or pledged to the said corporation, either to secure the payment of the shares of the capital stock, or to secure the payment of any debt that may be due to it; and also to purchase on sales made by virtue of any judgment at law or any other decree of a court of equity, or otherwise, to receive and take any real estate in payment or towards satisfaction of any debt previously contracted and due to the said corporation, and to hold the same until they can conveniently sell and convert the same into money or personal property. SEC. 3. And be it enacted, That the corporation hereby Powers of the created, shall have full power and authority to cultivate and improve their lands, dispose of their produce, erect suitable buildings for their accommodation, purchase the necessary stock of cattle and sell them at pleasure, and purchase and hold all necessary implements of husbandry, and establish and maintain a dairy. SEC. 4. And be it enacted, That the capital stock of the said company, shall be one hundred and fifty thousand dollars, Amount of to be divided into shares of twenty-five dollars each; but it capital stock. shall nevertheless be lawful for the said corporation, when and so soon as fifty thousand dollars on account of the said capital stock shall have been subscribed and paid in, or satisfactorily secured, to commence their said business, and with that capital to conduct and carry it on until they shall find it expedient from time to time to extend their capital to the amount herein before authorized. SEC. 5. And be it enacted, That all the affairs, concerns, and business of the said corporation, shall be managed and conducted by a president and four directors, or a majority of them, being stockholders, in the said company, and elected by them; the first election shall be held on the first Monday of Time and October, in the year of our Lord, one thousand eight hundred mode of electand thirty-four; and every election for directors thereafter, ing directors. shall be held annually on the first Monday of October, which election shall be by ballot, and decided by plurality of votes, under the direction of the president and directors of the corporation, or a majority of them; and each stockholder shall be entitled to one vote for each share of stock standing in his name: and until the first Monday of October, in the year of our Lord, one thousand eight hundred and thirty-four, the said Robert Swartwout, David B. Ogden, William C. Holly, Henry Aaron, and Charles Kinsey, shall be directors of the said corporation and shall continue to be directors until others shall be elected in their stead; and the directors who may from time to time be duly elected, shall continue in office, and hold over until others are duly elected in their place or stead. SEC. 6. And be it enacted, That the stock of the said company, shall be considered personal property, and shall be as- deemed persignable and transferable according to such rules as the board sonal estate. of directors shall from time to time make and establish. Stock to be SEC. 7. And be it enacted, That the said directors hereinbefore named, and those that may from time to time be duly elected, or a majority of them, shall as soon as may be convenient, after their election, appoint one of their number to be president, and the said president and directors, or a majority Election of of them, shall have power to make all necessary rules and president. regulations for the government of their own board, and the time and mode of transacting business therein, the regulations Duties of of elections for directors and for the management of the concerns of the corporation; provided such rules and regulations are not inconsistent with the constitution and laws of the United States, and of this state, they shall have power to declare and make dividends of the profits resulting from the business of the said company; and also to appoint all such officers and agents as they or a majority of them may deem necessary for the purposes intended by this act; the first elec president and directors. Election to tion for directors shall be held at Hoboken, in the county of Bergen, and all subsequent elections shall be held at such time and place within said county as the president and directors, or a majority of them, shall from time to time direct, and notice be advertised, shall be given in at least one newspaper published in this state, and one in the city of New York, ten days prior to each election of directors, stating the time and place where such election will be held; at which election, each stockholder may vote in person or by proxy; Provided always, that in case it should at any time happen that an election of directors should not be made on any day when pursuant to this act it ought to have been made, it shall be lawful on any subsequent day, upon such notice, and in such manner as the by-laws of the said company may prescribe, to hold an election of directors of the said company, and the directors so elected, shall proceed to choose a president as herein before directed. charter. SEC. 8. And be it enacted, That books of subscription to the capital stock of the company, shall be opened at such time and place and in such manner as may be designated by the directors, within ninety days after the passage of this act; that five dollars shall be paid upon each share of stock at the time of subscribing, and the remainder by installments or otherwise, upon a call of the president and directors, giving at least thirty days notice thereof, and that the shares of every stockholder, omitting to make such payment, shall be forfeited to the company with all previous payments made thereon. SEC. 9. And be it enacted, That this act shall be and conLimitation of tinue in force for and during the term of fifty years from the passing thereof, and from thence until the end of the next session of the legislature: Provided always, that the legislature may at any time during that period, repeal, amend, or alter this charter at their will and pleasure. Proviso. Passed February 21, 1833. AN ACT to divorce William H. Schenck from his wife Angeline M. Schenck. SEC. 1. BE IT ENACTED by the Council and General AssemWilliam H. bly of this State, and it is hereby enacted by the authority of the and Angeline same, That William H. Schenck, of the county of Monmouth, be, and he is hereby divorced from his wife Angeline M. Schenck; and that the marriage contract heretofore existing M. Schenck divorced. between them, the said William H. Schenck and Angelina M. A further Supplement to the act entitled, "An act to incorporate a company to create a waterpower at the city of Trenton and its vicinity, and for other purposes," passed February sixteenth, eighteen hundred and thirty-one. Stock forfeit to pay install SEC. 1. BE IT ENACTED by the Council and General Assembly of this State, and it is hereby enacted by the authority of the same, That any person, copartnership, or body politic failing, ed on failure for the space of thirty days after having received notice and a demand in writing to pay any installment, or part thereof, of ments. the capital stock of the said company, shall forfeit to the said company, at its discretion, each and every share upon which there shall be a deficiency, and all moneys thereon previously paid; which share or shares of stock so forfeited shall and may be sold by the president and managers for the time being for such price as can be had for the same; and the purchaser or purchasers thereof shall become members of the company, as fully as if they had been original stockholders. SEC. 2. And be it enacted, That the act entitled, "A sup- Former supplement to an act entitled, an act to incorporate a company to plement recreate a waterpower at the city of Trenton and its vicinity, pealed. and for other purposes," passed February sixteenth, eighteen hundred and thirty-one, which said supplement was passed January twenty-sixth, eighteen hundred and thirty-three, be, and the same is hereby repealed. Passed February 22, 1833. AN ACT to incorporate the Rahway Mutual Insurance Fire Company. WHEREAS Robert Lee, Job Squire, Samuel Oliver, David S. Preamble. |