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failpre to elect on
person in his place, for the residue of the year or term; and
the directors chosen, or a majority of them present, at their President to be first meeting, after every general election, shall by ballot
from among themselves, by a majority of the directors, elect
a president, and in case of the death, refusal, resignation, disVacancy sup- qualification or removal of the president, the said directors plied.
shall meet as soon as convenient thereafter, and elect in manner before mentioned a President in his stead, for the remain
der of the year or term. Corporation not
Sec. 7. And be it enacted, That in case at any time an dissolved, for election should not be made on the day specified in this act, davreiher the corporation for that cause shall not be deemed to be dis
solved, but it shall and may be lawful to hold such election on such other day as shall be prescribed by the by-laws and ordinances of said corporation.
Sec. 8. And be it enacted, That a majority of the direcDuties of direc
tors for the time being, shall form a board for the transaction of the business of the said company, and shall have power to ordain, establish, and put in execution such by-laws, ordinances and regulations, not repugnant to the laws and constitution of this state and of the United States, as shall be necessary and convenient for the government, management and disposition of the property, stock, effects, profits and concerns of said company, and shall and may appoint all such officers, agents and servants of said company, as to them shall seem necessary, and allow and pay them such compensation for their services as to them shall appear just and reasonable.
Sec. 9. And be it enacted, That the capital stock of said company, shall be employed in prosecuting and carrying on
from the port of Newark, the fishing for whales, seals and seastock to be em- fish in the Atlantic, Pacific and Indian oceans and elsewhere, ployed.
and in the manufacturing of oil and candles in the town of Newark, in the purchasing, building, equipping and fitting out of ships and vessels, to be employed in the above business, and in the purchase of such lands and tenements, and erection of such building or buildings as may be requisite for the prosecution of the above business: and it shall and may be lawful for the said company to make and execute all proper and necessary contracts with the masters, mariners and other persons therein employed, and to have and to hold the said ships and vessels, lands and tenements, and the produce of such fisheries and manufacturing as aforesaid, and every thing appertaining to or connected therewith, and to sell and dispose of the said ships and vessels, and the cargoes of oil, skins, and other articles procured, taken and brought therein, or manufactured therefrom, and generally to do and perform all and every such act and acts as may be necessary and proper to carry into effect the purposes hereof.
Sec. 10. And be it enacted, That the said corporation
estate and how transferred,
shall not hold or purchase any lands, tenements, or other real estate, other than may be necessary for the convenient What lands may transacting of the business as afuresaid, unless such lands, be held by com
pany. tenements, or other real estate, shall have been bona fide mortgaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in course of dealing, or purchased to secure debts previously contracted with the corporation, and due to it: and in every instance in which the said corporation may become the owner or claimant of lands, tenements, or real estates, the president and directors are empowered to sell and dispose of the same in such manner as they shall deem for the interest of the corporation.
Sec. 11. And be it enacted, That the stock and property Stock, personal of said company, of whatever nature or kind, shall be deemed i personal estate and shall be transferable in such manner as shall be prescribed by the by-laws, and ordinances of said corporation, but no transfer of stock shall be valid, unless it be entered or registered in the book or books to be kept by the corporation for that purpose.
Sec. 12. And be it enacted, That the directors shall at all Books open to times keep, or cause to be kept at the office of the corporation, inspection. proper books of account, in which shall be regularly entered, all the transactions of the said company, which books shall always and at all times, be open to the inspection of the stockholders of said company, and shall annually prepare a general statement of the affairs of the company, which shall be exhibited at the office of the corporation for the inspection of the stockholders at least three weeks, previous to the annual election.
Sec. 13. And be it enacted, That no dividend shall be , made among the stockholders, except out of the profits of the employed in business of the said company; that the said company shall banking. not employ any of their funds in any banking operation, and that this act shall be and continue in force for the term of thirty years from the passing thereof, and from thence to the next session of the Ligislature, and no longer.
Sec. 14. And be it enacted, That it shall and may be lawful for the legislature of this state, at any time hereafter, to alter, modify or repeal this act as the public good may require.
Passed Ociober 30, 1833.
ot to be
AN ACT to dissolve the marriage contract between James
Goodwin and Ann P. his wife. Sec. I. BE IT ENACTED by the Council and General As-' sembly of this state, and it is hereby enacted by the authority of the same, That the marriage contract between James Goodwin and Ann P. his wife, of the county of Warren, be, and the same is hereby declared to be dissolved to all intents and purposes whatever; and the said James Goodwin and Ann P. his wife, are hereby declared to be set free from their matrimonial contract, as fully as if they had never been joined in matrimony.
Passed October 31, 1333.
AN ACT to divorce Elizabeth Ann Dunn from her husband
Andrew Dunn. Sec. I. 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 marriage of the said Andrew Dunn and Elizabeth Ann Dunn, be, and the same is hereby forever dissolved, as fully, as if they had never been joined in matrimony; Provided nevertheless, that the issue of such marriage shall be considered legitimate.
Passed October 31, 1833..
AN ACT to incorporate the “ Hanover Paper Manufacturing
Company." 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 Robert Donaldson, John S. Darcy, Abraham Reynolds, Elijah Ward, Robert Donaldson, jr. and such other persons as may be hereafter associated with them, their successors and assigns, be, and are hereby constitutea
a body politic and corporate, by the name of the “ Hanover Style and object Paper Manufacturing Company," "for the purpose of manu- of incorporation. facturing Paper, Boards, and all other articles of which paper is the component part, in their several and various branches; by the same name, they and their successors and assigns shall have power and continue a body politic and corporate, and Powers. be capable in law of suing and being sued, implead and being impleaded, answering and being answered unto in all courts of justice, or any other place whatever, to make and use a common seal, and the same to alter and renew at pleasure; and they and their successors and assigns, in their corporate name, shall be able and capable to acquire, purchase, receive, have, hold and enjoy any lands, tenements, hereditaments, goods and chattels, of whatever kind or quality soever, neces. sary or useful for the said corporation to carry on their manufacturing operations above mentioned; and all other real and personal estate which shall have been bona fide mortgaged to said corporation, by way of security, or conveyed to them in satisfaction of debts previously contracted in the course of business, or purchased at sales upon judgments, which shall have been obtained for such debts : Provided, That of the real and personal estate to be purchased and holden by said corporation, shall be that which is now owned by said Donaldson, at and in the vicinity of Hanover, Morris Location of
on manufactory. county; and it shall not be lawful for the said corporation to carry on their manufacturing business in any other place : Provided always, That the funds of the said corporation shall not be applied, used or employed at any time, in banking operations; and the said Robert Donaldson, John S. Darcy, Abraham Reynolds, Elijah Ward and Robert Donaldson, jr. Commissioners or a majority of them, are hereby authorized to receive sub
Descriptions for scriptions to the capital stock of said company.
stock. Sec. 2. And be it enacted, That the stock, property and concerns of the said company, shall be managed and conducted by five directors, being stockholders, and one of whom shall be president and another of whom shall be agent of the company, who shall hold their offices for one year, and until others are elected; and the said directors shall be elected on the first Monday in June, in each and every year after the company goes into full operation; the election for directors, shall Election of die be held at such hour and place as a majority of the directors rectors. for the time being, shall appoint; and it shall be the duty of the president to give each stockholder notice of the elec. Notice to be give tion, through the post-office, at least fifteen days previous en to stockholdthereto, of the time and place of holding such election, who shall have previously informed him in writing, of his or her place of residence, at least twenty days previous to such election: and all elections shall be by ballot ; each stockholder shall be entitled, either in person or by proxy, to as many votes as he or she shall hold shares of the capital stock of said
..koniend in woning
to receive sub
corporation; and the said directors shall proceed to elect one President to be of their number to be president, and one of their number to chosen.
be agent; and if vacancy or vacancies shall at any time hap
pen by death, removal, resignation or otherwise, such vacancy Vacancies sup or vacancies shall be filled for the remainder of the year, in plied.
which they may happen, by such person or persons as the reremainder of the directors for the time being, or a majority of them shall appoint.
Sec. 3. And be it enacted, That no stockholder shall be Qualifications of eligible to the office of director, who is not a citizen of the
United States, and a stockholder in the said company, in his own right, to the amount of at least ten shares, two months previous to the day of election ; and the board.of directors
may employ as many work people, appoint superintendants Their duties, and officers as in their opinion the business may require, and
assign such compensation as they shall think fit : not less than a majority of the whole number of directors being present, when the same shall be done, and may remove the same and appoint others at their pleasure.
Sec. 4. And be it enacted, That the capital stock of said Amount of capi- company shall not exceed two hundred thousand dollars,
which shall be divided into shares of one hundred dollars each; but as soon as the sum of fifty thousand dollars of the said capital stock shall have been subscribed and paid, it shall and may be lawful to, and for the said company to commence their said business, and with that capital conduct and carry it on until they shall deem it expedient to extend their operations, and the capital necessary for that purpose, which they are hereby authorized to do from time to time, to the amount herein before mentioned; and it shall be lawful for the directors of said company, to call and demand from the said stockholders, respectively, all such sums of money by
them subscribed, at such times and in such portions or instalStock forfeited on failure to pay
ments, not exceeding ten dollars on each share, as they shall instalments. deem proper, under pain of forfeiting the shares of said stock
holders, and all previous payments thereon, if such payments shall not be made within thirty days after a notice shall have been published for the space of twenty days, in one or more public newspapers published in or near the place where such payment shall be required to be made; and also in one or more newspapers published in the city of New-York.
Sec. 5o And be it'enacted, At no time shall it be lawful to Capital not to be reduced. reduce the capital stock of said corporation, but by the per
mission of the Legislature : losses or misfortunes in business excepted.
Sec. 6. And be it enacted, That the first directors shall be First directors Robert Donaldson, John S. Darcy, Abraham Reynolds,
Elijah Ward and Robert Donaldson, jr. who shall hold their offices until others are legally chosen; and shall have power