Capital stock. May insure Company," to be located in Camden, and by the same name 2. And be it enacted, That the capital stock shall be one 3. And be it enacted, That it shall and may be lawful for against by the said company to insure dwelling houses, merchandise, personal and all kinds of property for any person or persons gainst loss or damage by fire, by perpetual policies or otherwise; also to insure vessels of all description, their appurtenances and cargoes, rights and interests against every description of casualty, incident to marine and inland transportation, upon such terms and conditions as shall be contained in the policy of insurance; and may cause themselves to be reinsured when deemed expedient. Managed by directors. 4. And be it enacted, That all the affairs, property and concerns of said corporation may be managed and conducted by not less than seven or more than fifteen directors; a majority of whom shall be residents of this state, who shall continue in office one year, and until others shall be chosen in their place; all of whom shall be stockholders of said corporation, and shall take an oath or affirmation of office, and choose out of their body a president and vice president, if Vacancy, how required; all vacancies in the board of directors may be filled for the remainder of the year, as a majority, for the time being may appoint; and a majority of the whole shall constitute a quorum for the transaction of business. filled. Officers and 5. And be it enacted, That the board of directors may compensation appoint a secretary and treasurer, and such other officers and agents as may be requisite for effecting the business of said company, and allow them such compensation as may be agreed upon. 6. And be it enacted, That the corporators named in the tors first section of this act or whoever else a majority of them. may determine, and any vacancies in said board of corporators, the majority of the balance shall have power to fill such vacancies, and such board shall constitute the first board of directors, and their first meeting may be held as soon as practicable, after the passage of this act, and they are authorized to open the books and receive subscriptions to the capital stock of said company. 7. And be it enacted, That all policies or other contracts of palī insurance may be made either with or without the seal of the company; but shall be signed by the president and secretary, and being so signed and executed, shall be binding and obligatory upon the company. rectors. 8. And be it enacted, That the meeting for election of Election of ‹Mdirectors shall be held on the second Monday of January, in each and every year, at such hour of the day as the board of directors may direct, at the office of the company in Camden, of which notice is to be given once a week for two weeks previous to said election, and published in a newspaper circulating in Camden county; and each share of the stock shall entitle its owner to one vote at each election, to be given either in person or by proxy; and the office and records of the company shall be kept in said city of Camden. 9. And be it enacted, That the capital stock of said com-sock, Tow pany shall be deemed personal property, and the shares sale. transferable on the books of the company in such manner as they may prescribe. 10. And be it enacted, That in case it shall happen that Fallure to an election of directors shall not be made on the day when not pursuant to this act it ought to have been made, the said corporation shall not for that cause, be deemed to be dissolved, but it shall and may be lawful to hold such election on such other day as the directors of said corporation may direct. ove 11. And be it enacted, That the company shall have power y bolt po 1 to sue and be sued, and to defend and be defended, in all, bel courts, whether in law or equity, and by that name may also have, purchase, possess, and enjoy to them and to their successors, lands, tenements, hereditaments, goods, chattels and effects of what nature and kind soever necessary for the pur pose of said corporation, and the same may grant, demise, alien and dispose of at pleasure for the benefit of said company; and may also have a common seal, and alter and renew the same at pleasure; also may make and establish such May make by- by-laws and regulations as to them shall seem necessary and expedient for the well ordering and government of said company, and put the same into execution; provided, that they be not contrary to the constitution or laws of this state or of the United States. a48. Proviso. May be altered 12. And be it enacted, That this act may be altered,. and repealed amended, modified or repealed by the legislature at any time hereafter, and that it shall take effect immediately. Approved March 21, 1872. elected. CHAPTER CCCVIII. An Act relative to Saint John's Methodist Episcopal Church, of Newark. 1. BE IT ENACTED by the Senate and General Assembly of Trustees, how the State of New Jersey, That four of the seven trustees of Saint John's Methodist Episcopal Church, of Newark, to be elected by the congregation of said church, at their annual election, shall be elected from persons members of Methodist Episcopal churches of the city of Newark, in this state, other than Saint John's Methodist Episcopal Church, out of the persons who shall be nominated as hereinafter in that behalf provided by the presiding elder, for the time being of the Newark District, of the Newark Conference of the Methodist Episcopal Church, to be voted for by said congregation, notwithstanding anything to the contrary contained in the act, entitled "An Act to incorporate the trustees of religious societies," approved April seventeenth, one thousand eight hundred and forty-six. Vacancies, how filled. 2. And be it enacted, That in like manner in case of the death, resignation, incapacity, or removal of any of said four trustees, the vacancy thus occasioned shall be filled by said congregation on like nomination as hereinafter in that behalf provided of said presiding elder. der 1 nomitnate trustees. &c. 3. And be it enacted, That it shall be the duty of such Presiding el presiding elder, for the time being, to nominate, in writing, before each annual election of trustees of the said the Saint John's Methodist Episcopal Church of Newark, and for the purposes thereof, to said congregation, at least to male members, in good standing, from each of four Methodist Episcopal churches in said city other than said Saint John's Methodist Episcopal Church, and in case of vacancy or vacancies as aforesaid, to nominate, in writing, for each vacancy to said congregation, with a view to filling such vacancy, at least two male members, in good standing, of some Methodist Episcopal church or churches in Newark aforesaid, other than said Saint John's Methodist Episcopal Church. 4. And be it enacted, That this act shall take effect immediately. Approved March 21, 1872. CHAPTER CCCIX. An Act to incorporate the Conrad Manufacturing Company of Camden county, New Jersey. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That James M. Conrad, Ezra corporators. Stokes, Samuel S. Cake, Charles Wright, Jabez B. Fisher, John P. Harker, James Hemphill, Ridgeway Gibbs and William T. Sickler be, and they are hereby incorporated under the name, style, and title of " The Conrad Manufac- Name. turing Company, of New Jersey." company. 2. And be it enacted, That the business of the said com- Business of pany shall be the manufacture of fire brick, terra cotta ware, the mining and shipping of clay, and generally the manufacture and utilization of any and all products of their land, in Camden county. 3. And be it enacted, That the capital stock of said company shall be one hundred thousand dollars divided into two thousand shares at fifty dollars each; and that the said company shall be authorized to commence operations whenever one-fourth of the said capital stock is subscribed and paid for. 4. And be it enacted, That in all other particulars the business of the said company shall be conducted under the provisions and regulations of the act, entitled An Act to authorize the establishment, and to prescribe the duties of companies for manufacturing and other purposes," approved March second, one thousand eight hundred and forty-nine. Approved March 21, 1872. CHAPTER CCCX. An Act revising the act to incorporote the City of Bayonne, in the County of Hudson and State of New Jersey, approved March tenth, eighteen hundred and sixty nine. TITLE I. BOUNDARIES, NAME, CORPORATE TITLE. 1. BE IT ENACTED by the Senate and General Assembly of Bundaries: the State of New Jersey, That all that part of the county of Hudson lying south of the Morris canal, included within the following boundaries, that is to say, commencing at a point in Newark bay, where a line, if drawn from a point where the Morris canal nears said bay into the same at right angles thereto, would intersect the westerly boundary of the township of Greenville; thence southeasterly along said line to the Morris canal; thence along the southerly line of the Morris canal to New York bay; thence into said bay at right angles thereto, to the boundary line between the states of New Jersey and New York; thence along said boundary line, through New York bay and the Kill von Kull |