of two hundred and fifty-thousand dollars; and as soon as five hundred shares shall be subscribed, the individuals above named or any three of them, may by public notice of thirty days, given in one or more of the public newspapers printed in the city of Trenton, call a meeting of the stockholders of the Directors to be said company, for an election of five directors, each of whom appointed. shall be a stockholder, to be voted for by the said stockholders, according to their respective shares, in person or by proxy, the said individuals above named, or any three of them, to be inspectors and judges of such first election; and the said directors when elected, shall choose out of their number, a president; and the directors of the said company shall annually thereafter, by public notice as aforesaid, call meetings of the stockholders, for electing directors of said company, and shall appoint three of the stockholders, not being directors, as inspectors of such election; said directors shall continue in office until such election be complete, and shall at all times have power to make by-laws for the government of said com, pany, not repugnant to the constitution and laws of this state or the United States; and shall also have power to call in said stock from time to time, in such instalments as they shall think necessary, not exceeding ten dollars on each share, by giving public notice as aforesaid, and to declare forfeited stock on failure to the said company, the stock, with all previous payments made thereon, of all such stockholders as shall neglect or refuse to pay the instalments upon their respective shares, as shall be required to be paid as above; Provided, previous notice of thirty days shall have been given to each delinquent stockholder.

Forfeiture of

to pay instal

ments.

Mode of elec

tion of directors.

Sec. 2. And be it enacted, That all elections for directors of said company shall be by ballot; and if the directors for the time being of said company, shall at any time neglect or refuse to give notice, as in the first section of this act is directed, for the election of directors, that then upon such neglect or refusal, the stockholders, or a majority of them, may, within the time in such case prescribed by law, give notice, and call such meeting, and elect directors in like manner, as if the said directors had given notice as by this act is required; and if at any election for directors, two or more persons voted for, shall receive an equal number of votes, then the directors for the time being, shall determine by ballot which of the said persons, so having an equal number of votes, shall be director or directors, as shall be required to complete such election; and upon the death or resignation of any of the said directors, the remaining directors shall choose, from among the stockholders, some person or persons to fill such vacancy or vacancies, who shall hold his or their office until the next annual election shall be complete.

Sec. 3. And be it enacted, That the said directors, before they enter upon the duties of their office, shall severally

take and subscribe an oath or affirmation, faithfully and ho- Directors to nestly to promote the interests of the said company-and make oath. they may appoint a secretary, treasurer, and such other offcers and agents as they may from time to time deem necessary or useful, with such compensation as they may think adequate; and require from such officers or agents, as well an oath or affirmation of fidelity, as such bonds and security for their good conduct as may to them appear reasonable and proper.

Sec. 4. And be it enacted, That the said company may, for the purpose of promoting the manufacture of such articles, which are not prohibited by the laws of this state, buy, Company may rent, take and hold, or otherwise become seized and possessed hold real estate. of and hold, all such lands, tenements and water power, and other real and personal estate, in the city of Trenton, and within two and a half miles of said city, as may be necessary and useful for the purposes aforesaid, and the same may improve and use, or sell, let, or otherwise dispose of, as they shall deem proper; Provided, that they shall occupy none of the public streets, lanes or alleys of the said city, with their said improvements, without previously procuring the consent of the common council thereof, regularly expressed by ordinance; and the said company, by their coporate name, may sue and be sued, plead and be impleaded, in all courts whatsoever; may have a common seal, and alter and renew the same at pleasure; and shall have, enjoy and exercise, all the rights, powers and privileges pertaining to corporate bodies, and necessary for the purposes of this act.

Sec. 5. And be it enacted, That a dividend of the profits of the said company, except so much thereof as may be set

apart for a surplus fund, shall be semi-annually made by the Semi-annual di said directors, among the stockholders, and the books of the vidends to be said company shall at all times be open for the inspection of made. the said stockholders; Provided, that no dividends be made

except from the actual projects of said company.

Sec. 6. And be it enacted, That the stock of the said com

used for bank

pany shall be personal property, and transferable upon the Stock not to be books of said company; and that no part of the fund of the ing. company shall be used for banking purposes.

directors indivi

Sec. 7. And be it enacted, That the president and directors of said company shall, in their individual capacity, and jointly and severally, be and continue liable to every creditor President and of said company, for the payment of all bills obligatory or dually responsiof credit, note or notes, that they or any of them may issue ble to creditors. and circulate, and upon demand of payment being made at the usual place of doing business, and refusal thereof, an action may be brought against the president and directors of the said company, in their individual capacities, and jointly or severally; and it shall be lawful for the plaintiff or plaintiffs, to

Limitation.

declare therein generally, for money had and received, with a specification of the dates, sums, payees and numbers of the said bills or notes so demanded, and payment whereof hath been neglected or refused, and upon judgment being rendered, execution shall issue.

Sec. 8. And be it enacted, That this charter shall continue in force until the first day of March, in the year one thousand eight hundred and sixty-four, and no longer; and that during that time, upon any departure from, or violation Legislature may of, the provisions of this act, the legislature may repeal, alter, or modify the same, as in their opinion the public good may require.

alter or repeal

this act.

Passed February 20, 1834.

Preamble:

AN ACT for the relief of Colonel David Hay.

WHEREAS, it appears that Colonel David Hay, of the county of Monmouth, in the year one thousand seven hundred and seventy-eight, furnished, agreeably to contract, fifty hats for the use of a detachment of the United States Troops, a part of the New-Jersey Levy; that on the delivery of the hats, he was, by the officer who commanded the detachment, referred for payment to the Clothier General, but the cities of New-York and Philadelphia being both, at the time, in the possession of the British, and the American army constantly in motion, he was consequently unable to present his accounts to the Clothier General, who soon after died; that he was actively employed in the service of his country, during the revolutionary war; that he was appointed first lieutenant in seventeen hundred and seventy-four, joined the American army, a volunteer, and continued in the service until after the battle of Monmouth, in which he was engaged, by reason whereof, he was prevented at the time from obtaining the liquidation and payment of his claim, at any of the public offices to which he was directed to apply, although he was, for a series of years, unremitting in his exertions and application to obtain the same; and now by his petition, praying relief from the legislature of New-Jersey, and it appearing just and reasonable that the said Colonel David Hay, should have relief in the premises-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 treasurer of this state be, and he is hereby authorized to pay to the said Colonel David Hay, or to his order, the sum of two hundred dollars, in full satisfaction and Two hundred discharge of the before mentioned claim; and the receipt of paid. the said Colonel David Hay, or his order, shall be a sufficient voucher for the treasurer therefor in the settlement of his accounts.

Passed February 20, 1834.

dollars to be

AN ACT to revive and amend the act entitled "An act to encourage and regulate the planting of oysters, in the township of Perth Amboy."

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 act entitled "An act to encourage and regulate the planting of oysters, in the township of Perth Amboy," passed the twenty-fifth day of November one thousand eight hundred and twenty-four, except so far as the same Act of eighteen may be altered by the provisions of this act, be, and the twenty-four re same is hereby revived in full force and effect, and extended vived. for a further term of ten years.

hundred and

collector.

Sec. 2. And be it enacted, That the sum or sums of money mentioned in the fifth section of the said act, and directed to be paid to the county collector of the county of Middlesex, shall be hereafter paid, on or before the twentieth Moneys to be day of January annually, to the township collector of the paid to township township of Perth Amboy, for the use of the state of NewJersey; and it shall be the duty of the said township collector to collect and receive, and, if need be, to sue for and recover the same, for which service he shall be entitled to charge at the rate of five per cent. upon the amount of mo- of collector. neys so collected and received by him, and the balance pay over to the treasurer of the state; Provided, that the sum Provisos or sums to be paid annually at the commencement of each year, by the person or persons making and staking off any part or portion of the shores or land covered with water, de scribed in the said act, shall not be less than four nor more than ten dollars per acre, at the discretion of the commissioners hereinafter named,

N

Compensation

Sec. 3. And be it enacted, That in the place of the commissioners named in the seventh section of the said act, the following named persons, to wit: William B. Manning, J. W. Reckless and Ezra Mundy, be, and they are hereby Commissioners appointed commissioners to execute and perform all the duappointed. ties required by said act, in like manner as the other commissioners therein named, could, or might have done; and it shall be the duty of the said commissioners to make annual report to the treasurer of this state of the number of acres so leased by them, and the amount assessed thereon annually.

Penalty for planting oysters during the time prohibited.

by former lessees

Sec. 4. And be it enacted, That no person shall be allowed to plant oysters on any of the land covered with water, as mentioned and described in the said act, which shall be taken from any natural beds whatever, in the state of New-Jersey, between the first day of May and the first day of September; and in case he shall do so, he shall, for every offence, forfeit and pay fifty dollars to be recovered with costs of suit, by action of debt, in any court of record of this state, having cognizance of the same, by any person who shall prosecute for the same, to the use of the prosecutor; and every person so offending, in addition thereto, shall forfeit all the rights and privileges conferred upon him by the said act.

Sec. 5. And be it enacted, That it shall not be lawful for the said commissioners, or either of them, to grant any lease, or permission to occupy, or suffer the use of the said oyster Oyster grounds not to be planted beds in the township of Perth Amboy, to any person or persons who are now indebted to the state of New Jersey, for the former occupation of the said beds, until all arrearages are actually paid to the township collector of the said township and his receipt therefor, in full, be produced to the said commissioners.

until arrearages are paid.

Passed February 22, 1834.

AN ACT authorizing trustees to sell the wood and timber standing and being on a tract of land in the county of Gloucester, whereof Samuel Walker, died seized.

WHEREAS, Samuel Walker, late of the city of Philadelphia, in the state of Pennsylvania, died seized, in fee simple, of certain real estate, situate in the township and county of Gloucester, and state of New-Jersey, having made and