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STATE OF NEW JERSEY.
AN ACT to authorize Charles Stokes, Guardian of Griffith
Wilmerton, John Wilmerton, Rachel Wilmerton and Wil· liam Wilmerton, to make sale of wood and timber on the
premises of said wards, in the township of Willingborough,
in the county of Burlington. WHEREAS, Richard Wilmerton, of Willingborough, in the
county of Burlington, and his three minor brothers Griffith, John and William, and his sister Rachel Wilmérton, are the owners in fee simple of a tract of woodland, in the Preamble. township of Willingborough aforesaid; AND WHEREAS, it is represented by Charles Stokes, the guardian of the four minors above mentioned, and the said Richard Wilmerton, by their memorial, that much of the said timber is ripe and going to decay; and that it would be much for the interest of the said wards, if the said guardian were authorized to make sale of a part of the wood and timber aforesaid, for their benefit ; but that the same cannot be done without the aid of a special law for that purpose-- 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 the said Charles Stokes, guardian of the said Guardian autho
rized to sell timGriffith, John, Rachel and William Wilmerton, be, and he ber on estate of hereby is authorized and empowered to make sale of such his wards. and so much of the wood and timber on the premises of his said wards, as is now ripe and fit for market, and as in the
To give bond.
judgment of the said guardian it will best subserve their interests, to sell and convert into money, and invest the nett proceeds of such sales in some safe securities, drawing interest under the direction of the orphans' court, of the county of Burlington: Provided nevertheless, that before the guardian make sale as aforesaid, he give bond to the governor of this state, in such sum and with such security as the orphans' court of said county may direct and approve, if any additional security shall be deemed necessary by said court.
Passed October 30, 1833.
AN ACT to incorporate a Company for carrying on the
Whale and Seal Fisheries from the port of Newark, in the County of Essex, in this State, and for the purpose of manufacturing Oil and Candles. .
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 all such persons as shall become subscribers to the capital stock hereinafter mentioned, their successors and assigns, shall be and are hereby ordained and de
clared to be a body politic and corporate, by the name of Style of incorpo- “ The Newark Whaling, Sealing and Manufacturing Com
pany," and by that name they and their successors, may and shall have succession, and shall be in law, capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended, in all courts and places whatsoever : that they and their successors may have and use a common seal, and may change, alter and renew the same at pleasure, and by the aforesaid name of incorporation, shall be in law capable of purchasing, holding, and conveying any estate, real or personal, for the use of the said corporation.
Sec. 2. And be it enacted, That the original capital stock of said company, shall be one hundred thousand dollars, with liberty to increase the same to any amount not exceeding five hundred thousand dollars, which stock shall be divided
into shares of fifty dollars each. ssioners Sec. 3. And be it enacted, That John H. Stevens, William to receive sub- Wright, John S. Darcy, Elias E. Boudinot, William Penningscriptions to
ton, or a majority of them be, and they are hereby authorized
to receive subscriptions to the capital stock of said company, and shall open books of subscription at such times and places, and for such space of time as they may appoint.
Sec. 4. And be it enacted, That the subscriptions to the capital stock aforesaid, shall be paid in the manner following, Mode of pay,
'ment of capital viz: five dollars on each share to the persons receiving sub- stock. scriptions, at the time of subscribing; and the remainder in instalments, not exceeding five dollars on each share, to the directors of said company, for the time being, at such times as the said directors may appoint, always giving thirty days notice thereof, in one or more of the newspapers printed in Newark; and any person or persons, copartnership or body politic, failing to pay any instalment, for thirty days after the time appointed for payment thereof, shall forfeit to said company every share upon which such payment shall not be made, and all payments previously made thereon.
Sec. 5. And be it enacted, That the said commissioners shall make an equitable deduction and distribution of the Distribution of stock among the subscribers thereto, in case more shall be stock. subscribed than the whole amount of capital, and shall pay over to the directors first chosen, on the day they are so chosen, or as soon thereafter as may be required, the amount of all moneys received by them, and shall also, at the same time, deliver over to the said directors, the original books of subscriptions.
Sec. 6. And be it enacted, That as soon as five hundred shares are subscribed, the persons herein empowered to receive subscriptions, or a majority of them, may call a meeting of subscribers to be held at Newark, giving at least three weeks notice of the time and place of meeting in two or more newspapers of the state, one of which shall be published in the town of Newark, and the subscribers, so assembled, shall choose by ballot from among themselves, by a majority of the Directors to be votes given, seven directors, who shall hold their office for chosen one year after said election, and until others are elected in their stead; that the next election for directors of said company, shall be held on the first Tuesday of April, one thousand eight hundred and thirty five; and on the first Tuesday of April annually thereafter, at such time and place, in the townof Newark, as the directors for the time being shall direct; of which Notice of elecelection public notice shall be given in one or more newspapers 'ion. of the state, at least two weeks previous to such election; and every such election shall be by ballot, and each stockholder Mode of voting. present, shall be entitled to as many votes as he shall hold shares of the capital stock of said company; and the persons : being stockholders, having the greatest number of votes, shall be the directors and in case of death, resignation, refusal, Vacancies sup.. disqualification or removal of any director, the remaining di- plied. rectors at their first regular meeting thereafter, may choose a