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ACTS

FIFTY-SEVENTH

GENERAL ASSEMBLY

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STATE OF NEW JERSEY.

AN ACT to authorize James Bird and Aaron Vansyckle, junior, exeeuton of Joseph Bird senior, deceased, to convey to John P. Yawger certain' lands therein mentioned.

Whereas it is represented, that Joseph Bird, senior, late of the township of Bethlehem, in the county of Hunterdon, do- Preamble, ceased, in his lifetime, by article of agreement, under his% hand and seal, bearing date the sixteenth day of December, in the year of our Lord one thousand eight hundred and thirty, did agree to sell and convey to John P. Yawger, of the township of Lebanon, in said county, a certain tract of land, whereon Robert T. Bird then lived, adjoining lands of Joseph Ramsey, Timothy Porter, deceased, and Benjamin Low and others, conveyed by Harman Ditts and Christian his wife, to the said Joseph Bird, by deed, bearing date the thirty-first day of July, eighteen hundred and seventeen, supposed to contain one hundred and fifty-one acres, more or less; and a certain lot of land adjoining said place and lands of Peter Huffman, supposed to contain twenty-four acres, three roods, and nineteen perches, conveyed by John Ditts and wife to the said Joseph Bird, by deed, bearing date the third day of May, eighteen hundred and sixteen, for the consideration of three thousand dollars, to be paid in six equal payments, of five hundred dollars each; the first thereof, to be paid on the first day of April, eighteen hundred and thirtyone; the second, on the first day of May, eighteen hundred aid thirty-two; and the others annually, thereafter: that the said John P. Yawger, in pursuance of said agreement, took possession of said premises, and paid the two first payments r hereon, and that the said Joseph Bird hath departed this life, without having executed a deed for said premises, having made tjid published his last will and testament in writ

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capable of purchasing, holding, using, and conveying any estate, real or personal, for the use of the said corporation.

Sec. 2. And be it enacted, That the capital stock of the said corporation shall be seventy-five thousand dollars, which capital stock, shall be divided into seven hundred and fifty shares, of one hundred dollars each, and be deemed personal property, and transferable in such manner as the said corporation shall, by their by-laws, direct: and it shall be lawful for said company to commence the said business, or any part thereof, and, with such capital, conduct and carry it on; and if they shall at any time deem it expedient to extend their operations, and for that purpose to increase the capital stock, they are hereby authorized May be in- so to do, to any amount not exceeding one hundred and fifty creased. thousand dollars in the whole.

Sec. 3. And be it enacted, That the stock, property, affairs, and concerns of the said corporation shall be managed and conducted by five directors, who may respectively hold their offices for one year, and until others may be chosen, which directors shall, at all times during their continuance in office, be stockholders in said company in their own right.

Sec. 4. And be it enacted, That David Henderson, John V. Commission- B. Varick, Robert Gilchrist, John Cassedy, and J. Dickinson era to receive Miller, of Jersey City, Edward Cook, George Tingle, and John ?"bs."1S.tions Steele, of New York, shall be commissioners to receive subscriptions for the capital stock of the said corporation, by opening books for that purpose at the city of Jersey, in the county of Bergen; and twenty days' public notice shall be given, by the said commissioners, of the time and place of the opening of such books, and also of the amount of the first installment to be then paid, by advertisement in one of the newspapers printed in this state, and also in one printed in the city of New York; and, as soon as the same shall be subscribed, the said directors."* commissioners shall, by ten days' public notice, published in like manner, call a meeting of the stockholders of the said company for an election of directors; and the said commissioners shall be inspectors of the first election of directors, who shall be chosen 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 entitling the holder thereof to one vote: and the said commissioners shall certify, under their hands, the names of those duly elected directors, and deliver over to them the subscription books, and the moneys and securities received for subscriptions: and the time and place of holding the first meeting of directors shall be fixed by the said commissioners; but annually thereafter the said directors shall, by public notice as aforesaid, call meetings of the stockholders for the election of directors of the said company, and shall appoint three of the stockholders, not being directors, as inspectors and judges of such election.

S»c. 5. And be it enacted, That the directors first chosen,

Election of

or that may hereafter be chosen as aforesaid, shall, as soon as Directors to may be after their appointment, proceed to choose, out of their choose a prtown body, a president; and in case of the death, resignation, sidentrefusal, or inability to serve, of the president or any of the di- hqw vjcmi rectors, the vacancy thereby occasioned may be supplied by cieJ'sTjpplied. appointments, to be made by the board of directors; and in case of the absence of the president, the board of directors may appoint a president pro tempore.

Sec 6. And be it enacted, That the said corporation shall have full power to make, constitute, ordain, and establish, by and with the consent of a majority, in value, of the persons interested in said company, such by-laws, rules, ordinances, and regulations, as they, from time to time, shall judge proper, for the election of directors, and the time and manner of the elec- Quorum of tion: that a majority of the board of directors shall form a director*, quorum for the transaction of business, and shall have power to make and prescribe all other by-laws, rules, ordinances, and regulations," not repugnant to the laws and constitution of the United States or of this state, as shall appear to them to be power8 and proper and needful touching the management and disposition duties of diof the stock, estate, property, effects, and profits of the said rector»corporation; the appointment of officers, clerks, and servants, and their compensation; and may, at their discretion, remove and discharge from their employ any manager or other person engaged in the business of the company, and supply their places by the appointment of others: and it shall be-lavvful for the said directors to call and demand from the stockholders, respectively, all such sums of money by them subscribed, at such time and in such proportions as they shall deem proper, under ^j0^ pain'of forfeiting the shares of said stockholders, and all pre- to p°ay installvibus payments thereon, if such payment shall not be made merits, within twenty days after a notice requiring such payment shall have been published for that time in one or more newspapers published in this state, and also in one or more of the newspapers printed in the city of New York.

Sec. 7. And be it enacted, That in case it shall happen that Corporation an election should not be made on the day that pursuant to the not dissolved by-laws to be ordained by the said company, it ought to be by failure to made, the said corporation shall not, for that, be deemed to elect onJa>' be dissolved, but it shall and may be lawful to hold such elec- prescn ■ tion on such other days as shall be prescribed by such by-laws; and the directors then in office shall, respectively, continue until others shall be appointed in their stead.

Sec. 8. And be it enacted, That the directors shall at all Books subject

times keep, or cause to be kept, at their manufactory, proper to inspection

books of account, in which shall be regularly entered all the of directors

transactions of said corporation, which books shall be subject Annual8tatc

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at all times to the inspection ot any director; and that at every la;d before

annual meeting of the stockholders for the purpose of choosing stockholders.

directors, the directors shall lay before them a general state

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of the affairs of the company, exhibiting the amount of its stock, debts, and credits $ the different kinds of pottery manufactured; the number of persoris employed, and their respective compensations; and an account of the profit and loss: and that the stockholders may, if they think fit, at any general meeting, elect, by ballot, any five of their number for the purpose of examining into the state of the affairs of the said company, who shall have right of access and examination to and of all the books of the said company; and the said persons, or a majority of them, may at any time call a general meeting of the stockholders, giving like notice as is above directed to be given by a board of directors for the like purpose.

Sec. 9. And be it enacted, That no transfer of stock shall be How trans- valid or effectual, until such transfer shall be entered or regisfers of stock tered in the book or books, to be kept by the president and di-' to be made. rectors for that purpose.

Capital not Sec. 10. And be it enacted, That no part of the funds of this to be employ- company shall be employed in banking operations, or for other ed in bank- purposes not plainly set forth by the provisions of this act; and May be re- ^e legislature °f this state shall have authority, for just cause, pealed or mo- at any time after the expiration of fifteen years, hereafter, to dined. alter, amend, or repeal this act.

Passed January 18,1833.

Preamble.

AN ACT appointing a commissioner to execute conveyances for certain lands, divided and set off by John Lydacker, junior, and Albert Lydacker, deceased, in the lifetime of the said Albert Lydacker, deceased.

Whereas John Lydacker, junior, Margaret Lydacker, widow of Albert Lydacker, deceased, Cornelius Harman, and Isaac Lydacker, sons of the said Albert J^ydacker, deceased, have represented to this legislature, that John Lydacker, junior, and Albert Lydacker, deceased, made a joint purchase of a certain stone quarry lot, situate in the township of Harrington, county of Bergen, and state of New Jersey, adjoining the Hudson river and the Closter mountain, lying between the Palisado rock and the Hudson river, as appears by a map thereof, herewith produced.—And Whereas the said John Lydacker, junior, and Albert Lydacker, deceased, did divide the said premises into five unequal parts, and mark out the same by metes and bounds, as appears by the map aforesaid, and did agree that John Lydacker, junior, should take, as his part of the said premises, lots number one, number three, and number five,'and Albert Lydacker. deceased, should receive the remaining lots, number two and number four, as his part of the same, as they were marked out by them, and as appears upon the said map.—And Whereas Albert Lydacker has died since the division of the above mentioned premises, and before releases were given from each to the other, and the said John Lydacker, junior, is desirous to obtain a partition of the same, as expeditiously as possible, and as the said agreement cannot be carried into effect by the ordinary modes prescribed by law in other cases—Therefore,

Sec 1. Be It Enacted by the Council and General Assembly of this Stale, and it is hereby enacted by the authority of the same. That John H. Zabriskie, of the township of Harrington, ueHju^r?*" county of Bergen, be, and he is hereby appointed and autho- to conrized to execute the said contracts, respectively, and to convey vey certain to the said John Lydacker, junior, by a good and sufficient'an^8°fAdeed of conveyance, in fee-simple, the said lots, number one, J!axJLeT' number three, and number five, set off to the said John Lydacker, junior, by partition aforesaid, upon his executing a release for the said lots, number two and number four, to the heirs at law of Albert Lydacker, deceased, subject to the right of dower of the widow of the said Albert Lydacker, deceased, therein.

Sec. 2. And be it enacted, That the said conveyances, when Conveyance so made by the said John H. Zabriskie, shall be as good and to 1)6 effectual, in law, to convey the said premises to the said grantees, as if the said conveyances had been duly made and executed by the said John Lydacker, junior, and Albert Lydacker, deceased, during the lifetime of the said deceased.

Passed January 22, 1833.

AN ACT for the relief of the heirs of William Darrah, deceased.

Whereas it is represented, and made to appear to the legisla- preamble, ture of this state, that William Darrah, late of the county of Sussex, died intestate and seized of a ccnsiderable real estate in the said county of Sussex, and without sufficient personal estate to pay all his debts, and ieaving Elizabeth Darrah, his widow, and Henry T. Darrah, Richard E. Darrah, and William Darrah, together with Emiline, Mary, and Rebecca, his children and heirs at law; which said . Mary and Rebecca are minors, under the age of fourteen years, and the said Elizabeth has been duly appointed their guardian; and that the said real estate cannot advantage

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