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Time limited created shall not within three years from the passage of this for construct- act, commence the construction of said road at both ends, and ing road. within ten years thereafter, finish and put in operation the
said rail way or ways, or a McAdamized way, then the said corporation shall forever cease thenceforth, and this act be null and void.
SEO. 10. And be it enacted, That the said corporation shall
provide by means of bridges or otherwise, convenient ways Passage on or passage for the public, over the said rail or McAdamized public roads way, wherever it may cross a public road; and shall fix at or to farms least one easy mode of passage on each farm, for cattle or not to be impeded.
common wagons, across the rail way or the McAdamized way; and if the company neglect to perform the same, after being requested so to do, the owner or possessor may do it himself, and recover the value of the work of the corporation, by common process of law.
Sec. 11. And be it enacted, That for the purpose of protecting their works from the overflowing of the tides on the meadows or lowlands, it shall be lawful for the said corporation or their agents, to enter into and upon any part of the said mea
dows or lowlands, to remove every obstruction to the free Obstacles to
to passage of the water within the limits aforesaid, and to erect, the passage of cast up, or make, good and sufficient banks, dams, floodgates, water, may be sluices, and every other work, which, on any part of the said removed.
meadows, they may deem necessary to keep out the tide at all times, and to dig, open, and clear out all such sluices and water courses as may be required to drain the same; and if the owner or occupier of any such lowlands or meadow, shall consider himself aggrieved, or injured by the erection of any such work or works, and cannot agree with the company or their agents, upon the amount of damages, he or they may have sustained thereby, it shall and may be lawful for such injured person or persons to apply, agreeably to the provisions of the sixth section of this act for the appointment of commissioners, for the purpose of assessing and ascertaining such damages, with the right of appeal and redress therein given.
Sec. 12. And be it enacted, That if any person or persons Penalty for
shall wilfully or maliciously injure the said rail or McAdaminjuring road ized road, or any building, machinery, or other work of the or works. said corporation, appertaining thereto, such person or persons
shall forfeit and pay therefor, to the said corporation, three times the amount of damages sustained by means of such offence or injury, to be recovered in the name of the said corporation, with costs of suit, in any court having cognizance of the same.
Sec. 13. And be it enacted, That the president or treasurer
of said company, shall within two years after the completion Statement of of the said road, file in the office of the secretary of this state, cost and an. under oath or affirmation, a statement of the whole cost and nual state
expenses of the said road and appendages, and annually there
after, a statement of the nett proceeds thereof; and whenever ment of prothe annual nett proceeds shall amount to more than seven per ceeds of road
to be filed. centum per annum upon the cost of the said road with its appendages, the said company shall pay to the treasurer of this state, the one half of one per cent. per annum on the Payment said cost, to be paid on the first Monday in January of each the state. year.
Sec. 14. And be it enacted, That it shall and may be lawful for the president and directors for the time being, or a majority in number of them, whenever they may deem it expedient, to call a special meeting of the stockholders, by giving Special meetthe like notice as is hereinbefore directed, for choosing direct- ings of stockors, specifying therein the object of said meeting; but that no holders. business shall be transacted by such meeting unless there be present a majority in value of the stockholders, who may require any books, accounts, securities, or other papers of said corporation, to be exhibited before them.
Sec. 15. And be it enacted, That this act shall be deemed and taken as a public act, and shall at all times be recognized as such in all courts and places whatsoever, and that the road , authorized by this act, be, and the same is hereby declared to highway be a public highway subject to such regulations as are provided for in the eighth section of this act.
Capital not SEC. 16. And be it enacted, That this act shall not be so con- employed in strued as to authorize the company to employ any of their banking. capital in banking operations.
Sec. 17. And be it enacted, That the said company may Pa n d alter such parts of said route as they may deem proper ; pro- may be altervided the same be not more than one mile distant from the ed. line of said road as located by the sixth section; Provided also, that no land necessary for such alteration, shall be taken without first obtaining the assent of the owner or owners thereof. .
Sec. 18. And be it enacted, That at the expiration of fifty When years from the completion of the said road, the legislature of state may this state may cause an appraisement of the said road and the take the road appendages thereof to be made by six persons, three of whom on payment
of the cost. shall be appointed by the chief justice of this state for the time being, the remaining three by the company, who, or a majority of them, shall report the value thereof to the legislature, within one year from the time of their appointment, or if they cannot agree, they shall choose a seventh, who, with the aforesaid six, shall report as aforesaid, or in case the said company shall neglect or refuse to appoint the said three persons on their part, for two months after the said appointment by the chief justice, then the three persons so appointed by him, shall proceed to make such appraisement, which shall be binding on the said company; or in case the said six commissioners shall be appointed as aforesaid, and they cannot agrce upon the seventh man, then upon two weeks notice to the said company,
the said chief justice shall appoint such seventh man, as aforesaid, to make such appraisement as aforesaid, and thereupon the state shall have the privilege, for three years, of taking said road, upon the payment to the company of the amount of the said report within one year after electing to take said road, which report shall be filed in the office of the secretary of this state, and the whole property and interest of said road, and the appendages thereof, shall be vested in the state of New Jersey, upon payment of the amount so reported to the said company; and that it shall be the duty of the president of the company to lay before the legislature, under oath or affirma
tion, when they shall so request, a full and fair statement of Proviso. the costs of said road and of all the receipts and disbursements
of the company: Provided always, that the aforesaid valuation shall be made without reference to the receipts or disbursements of the company or the advance of stock; and the said valuation shall in no case exceed the first cost of said rail or McAdamized road, with the lands and appendages thereof: And provided also, that if the state should not take the said
road at the expiration of fifty years, that then at the end of Limitation of ninety-nine years from the date hereof the powers, privileges, charter.
and immunities hereby granted shall cease and determine.
Passed February 11, 1833.
AN ACT to incorporate the New Jersey Peat Company.
Sec. 1. BE IT ENACTED by the Council and General Assembly of ihis State, and it is hereby enacted by the authority of the same, That William Woodworth and his present and future associates be, and they are hereby declared a body poli
tic and corporate, in fact and in name, by the name and style Style of in
of “the New Jersey Peat Company," and, by that name and corporation.
style, shall have succession, and be, in law, capable of suing and being sued, pleading and being impleaded, answering and being answered unto, in all courts and places, and in all manner of action or actions.
Sec. 2. And be it enacted, That the stock of the said com
pany shall consist of two thousand shares, of fifty dollars each: Capital stock. in the choice of directors, each share shall be entitled to one
vote; there shall be five directors, one of whom shall be pre
sident. Commission- Sec. 3. And he it enacted, That Littleton Kirkpatrick, Jacob ers to open Rutsen Van Rensselaer, William L. Stone, Cornelius Harson, scriptions. or sub- and William W. Woodworth shall be commissioners to open
books and receive subscriptions to the stock of the said com
pany, and to distribute the same among the several subscribers, in such manner as they shall think best; and give public notice in two of the daily papers published in the city of New York, and in the two public newspapers printed in the city of New Brunswick three successive weeks, of the time and place for opening the books of subscription, and shall continue the said books open till three-fourths of the stock, at least, shall be subscribed; and as soon after a majority of the stock so subscribed for as may be convenient, they shall cause the like no
President and tice to be given for the choice of directors, at such time and direct
directors to be place as they shall think proper; and they, or a majority of chosen. them, shall preside at such election, receive the ballots, and declare who, by a plurality of votes, are chosen directors, who shall thereupon be personally notified of their appointment, by the said commissioners, and who shall designate the time and place for their first meeting; and the said directors, or a majority of them, shall appoint one of their number president, and shall have power and authority to employ, hire, or contract with any and such and so many men as they shall deem best, for the purpose of cutting, raising, drying, and sending peat to market, and selling and disposing of it as they shall deem best for the interest of the company: at the time of subscription, there shall be paid, by each subscriber, the sum of five dollars on each share, to be held by the said commissioners till a good and sufficient title shall be obtained for the said peat bed, situate, lying, and being in the township of North Brunswick, in the county of Middlesex, and state aforesaid: the said president and directors shall have full power and authority to treat with, bargain, purchase, and procure from the present proprietors, or their legal representatives, a full and perfect title to the said peat bed, on the best terms they can; and in the event of their not being able to procure such title on satisfactory terms, they shall give notice of their non-agreement to the said commissioners, who shall, after deducting a ratable proportion of the expense attending the procuring of this act, and all incidental expenses, return the money, or deposit the same in the Bank of New Brunswick, to the credit of the several subscribers, according to the sums by them severally paid to the said commissioners, of which deposit they shall give the like notice as above directed.
SEC. 4. And be it enacted, That the said president and directors shall have full power and authority to call in the resi- May make due of the stock subscribed for, at such times and in such pro- by-laws. portions as they may think proper and necessary for the use of the said company: they may pass such by-laws, rules, and regulations, for the government and management of the concerns of said company as they shall think proper, not inconsistent with the laws and constitution of this state or of the United States, and shall have, exercise, and enjoy all powers necessary for carrying into effect the object of this act.
Capital not to Sec. 5. And be it enacted, That the corporation hereby crebe employed ated shall not use any part of their capital or property in carsing. rying on any banking operations.
Sec. 6. And be it enacted, That the legislature may alter, Act may be
cre modify, or repeal this act, whenever, in their opinion, the pubpealed. lic good requires it.
Passed February 8, 1833.
AN ACT respecting the sale of the real estate of Robert Young, deceased.
WHEREAS it appears to this legislature, that Robert Young, late
of Elizabethtown, in the county of Essex, and state of New Jersey, died seized of several houses and lots of land situate in Elizabethtown aforesaid, and a lot of land in the township of Union, in said county, having first made a nuncupative will, bearing date on the third day of August, in the year of our Lord one thousand eight hundred and thirty-two, which has since been duly proved by Moses Chandler, the executor thereof, before the surrogate of said county.-And WHEREAS in and by the said will, the said testator declared it to be his will, that the said executor should sell and dispose of all his estate, as he might think proper, and divide the proceeds among his children equally, share and share alike ;—and Margaret H. Young and Elizabeth V. Young, two of the children of the said testator, of full age, and Charles Davis, the guardian of James Young, Christiana Young, and Jeanette Young, the other children of the said testator, who are minors, and the said executor, having, by their memorial, represented, that the interest of all parties concerned would be greatly advanced by a speedy sale of the said houses, lots of land, and real estate, and praying the passage of a law authorizing the sale thereof, and such appearing to have been the desire and intention of the said testator-Therefore,
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 Moses Chandler, the executor in the said nuncuM. Chandler
pative will named, be, and he is hereby authorized and emsell the real" powered to sell all the real estate of the said Robert Young, estate of R. deceased, and to make and execute all necessary and proper Young, doc. conveyances to the purchaser or purchasers of the same, and
to divide the proceeds thereof among the children of the said