Town com are authorized and empowered to appoint a place or places point a place for holding all elections which may be held in said township, for holding elections. until after and including the annual election in November next; provided, the clerk of said township shall at least eight days prior to and within thirty days next preceding the day of election, put up, or cause to be put up an advertisement in at least five of the most public places within said township, which advertisements shall make known the time, place and purpose of holding such election, and be signed by said clerk. 2. And be it enacted, That this act shall take effect immediately. Approved March 29, 1872. of commis lic schools. CHAPTER CCCCXX. A Supplement to an act entitled "An Act to incorporate the Board of Education of the city of Rahway," approved March eighth, eighteen hundred and sixty-one. 1. BE IT ENACTED by the Senate and General Assembly of Term of once the State of New Jersey, That all commissioners of public stoners of pub- schools of the city of Rahway, excepting the commissioner at large, shall be elected for four years; provided, that whenever vacancies occur, the common council of said city shall fill such vacancies by appointments, which shall continue only during the unexpired term. Commissioners to divide 2. And be it enacted, That the ward commissioners of the into classes. present board, as soon as conveniently may be after the the passage of this act, shall divide their terms of office by lot into four classes, whereof the term of the first class shall expire on the first Monday in May of the present year; the term of the second class shall expire in one year, of the third class in two years, and of the fourth class in three years thereafter; and at all charter elections in said city next preceding the date of the expiration of the official term as hereby directed of each ward commissioner, and of each ward commissioner hereafter elected, there shall be elected in such ward a commissioner for said ward, who shall hold his office for four years. 3. And be it enacted, That this act shall take effect immediately. Approved March 29, 1872. CHAPTER CCCCXXI. An Act to incorporate the Enterprise Cranberry Company. powers. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That William Major, Thomas B. Corporators. Miller, John Bond, James Batten, William H. Elliott and John Good, and all such persons as may be hereafter associated with them, be and they are hereby constituted and declared to be a body politic and corporate, in fact and in law, by the name of "The Enterprise Cranberry Company, of Name and Monmouth county," for the purpose of buying, selling, hold ing, cultivating and improving cranberry lands, and of conducting the business of growing and selling the products of the same, and by the above name shall have power to agree for, purchase, occupy, sell and convey so much real and personal estate lying and being in the county of Monmouth, as shall be deemed necessary and expedient by the said company in the conduct of their business, and all other powers incident to a corporation, and shall have power to improve their real estate or any part thereof, for the culture of cranberries, or for other agricultural purposes, and to erect such buildings thereon as shall be required for the use of said corporation, and to lay, keep and maintain such drains and roads, and to overflow and irrigate all such lands lying and being within the bounds of the present tract of said company as said corporation shall deem necessary and expedient for the benefit of said lands, and for the purpose of the business hereinbefore specified. 2. And be it enacted, That the capital stock of said com Capital stock. rectors. pany shall be five thousand dollars, with liberty to increase the same to thirty thousand dollars, which shall be divided. into shares of fifty dollars each, and that subscriptions to the capital stock may be paid in real or personal estate appropriate to such business, at a bona fide valuation to be agreed upon by a majority in interest of the stockholders, and the said corporation may issue stock in payment therefor, and that the subscriptions for stock shall be opened at such places as the directors shall designate, notice of the time and place of which shall be given under the direction of the board of directors. Election of di- 3. And be it enacted, That the affairs of said corporation shall be managed by five directors, all of whom shall be stockholders, one of whom shall be the president; they shall hold their office for one year, and until others are elected in their stead; said election to take place in April of each year; the first five named in the first section of this act shall be directors of said corporation until an election shall be held for directors; each stockholder shall have one vote at all meetings of stockholders for each share of stock paid up by him and no more. Dividends. Stock, how transferable. be made. 4. And be it enacted, That the directors of said company may make such dividends as the profits, plans and rules of the company will allow. 5. And be it enacted, That the stock of said corporation be deemed personal estate, and shall be transferable as the by laws may prescribe, and that regular books of accounts of the corporation shall be kept, to which every stockholder shall have access at reasonable times, for the purpose of inspection, and that their principal office shall be in Monmouth county. Statement to 6. And be it enacted, That the directors at the annual meeting of the stockholders shall make a report fully setting forth the state and affairs of the company, and any number of the stockholders holding not less than ten per centum of the aggregate amount of stock (if the directors refuse) may call a meeting of the stockholders. 7. And be it enacted, That this act take effect immediately. Approved March 29, 1872. CHAPTER CCCCXXII. An Act to incorporate the Standard Printing Company. "Name. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That John H. Lyon, John Hood, corporators. J. B. Cleveland, William J. Lyon and William H. De Camp, and such other persons as may hereafter be associated with them, be and they are hereby created a body politic and corporate by the name of "The Standard Printing Company, for the purpose of printing and publishing a newspaper in the city of Jersey City, and doing such other printing and publishing business as they may deem expedient, with authority to purchase and hold such real estate as they may deem necessary for the purposes of the company, and to mortgage, sell or otherwise dispose of the same. 2. And be it enacted, That the capital stock of said com- Capital stock. pany shall be thirty thousand dollars, divided into shares of twenty-five dollars each, with liberty to increase the same to any sum not exceeding sixty thousand dollars, which shares shall be deemed personal property, and shall be transferable only on the books of the company, in such manner as the directors by their by laws or otherwise may direct, each stockholder to have one vote, either in person or by proxy; said stock to be subscribed, called for and paid in at such times, in such installments, and upon such notice as the directors may appoint. 3. And be it enacted, That the property and affairs of the Affairs, how said company shall be managed by a board of directors, not managed. less than three nor more than nine, all of whom shall be shareholders in said company, and who shall be chosen at such time and place in the city of Jersey City, and upon such notice as the directors by the by-laws of the company may direct; and that John H. Lyon, John Hood, J. B. Cieve- First directors land, William J. Lyon and William H. De Camp shall be the first directors of said company, who shall, as soon as convenient, after the passage of this act, assemble and organize said company, and shall continue in office until others are elected in their stead. Powers of directors. Annual elec tion. 4. And be it enacted, That as soon as ten thousand dollars of the said capital stock shall have been subscribed, the said company shall be authorized to proceed to carry out the objects of this corporation; that the shareholders shall choose out of the board of directors a president, and the directors shall have power to appoint such officers, agents, clerks and other servants as they may deem expedient, and to fix their compensation, they shall have power to adopt such rules and regulations as they may deem necessary and convenient for the management of said company; to fill vacancies in their own board until the next annual election, and until others are chosen in their stead; to declare stock forfeited for non-payment of any installment or installments, and to sell and issue stock in lieu thereof for the benefit of said company. 5. And be it enacted, That the first annual election shall be held on the first Wednesday of June next, or at such other time and at such place as the directors may appoint, and at such hour as shall be fixed by the by laws; and that if it so happen that an election of directors shall not take place on not to dissolve that day, or on any subsequent day appointed for that purpose, the said corporation shall not be dissolved, but an election shall be held subsequently in any such case, at such time and place as the directors may appoint. Failure to elect directors be made. Statement, to: 6. And be it enacted, That the directors of said company shall make an annual report to the stockholders at their ard meeting, of the condition and affairs of the said company, and no dividends shall be declared except from the actual and net profits of the company. 7. And be it enacted, That this act shall take effect immediately. Approved March 29, 1872. |