CHAPTER CCI.

An act to incorporate the Haddon Savings Bank, to be located in Haddonfield, Camden county, state of New Jersey.

corporators

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Joseph Walton, David Roe, John Names of Clement, George Appleton, J. E. Peyton, Robert J. Brace, William H. Snowdon, Alfred W. Clement, Joel S. Perkins, Joseph B. Tatum, Stephen G. Collins, Alexander Cooper, John Gill, junior, James H. Billington, William P Tatum, Abel Clement, Isaac Middleton, S. Stokes Hillman, and their successors, shall be and they are hereby created a body politic and corporate, by the style of the Haddon Savings Bank, Corporate to be located in the village of Haddonfield, and by that name. name shall have perpetual succession, and may sue and be sued in any court whatsoever, and may have a common seal, may renew or alter the same; also may have the right to own and hold real estate, and improve or dispose of the same at pleasure.

stock.

2. And be it enacted, That the capital stock of said com- Capital pany shall consist of five hundred shares of the value of one hundred dollars each, with the privelege of increasing the same to twenty-five hundred shares of the like value per share; and when the capital stock is so increased the stockholders shall have the right to take the shares authorized by such increase; provided, that if such shares of new stock are Proviso. not taken by the stockholders within ten days after receiving notice of such increase, then the board of directors may dispose of such shares of new stock in such manner as they may deem best.

open books

3. And be it enacted, That the corporators, or a majority corporaof them, shall have power to open books for subscription to tion to the capital stock, at such times and places as they may deem and receive expedient; and when two hundred and fifty shares, or more, tions. of said stock have been subscribed, and fifty per centum thereon of the same paid in, the shareholders may elect

subscrip

Bank empowered to

twelve directors, one of whom shall be president, to serve until the next annual election, or until their successors shall have been duly elected and qualified.

4. And be it enacted, That the said bank shall have power borrow and and may borrow or lend money for such periods as the said lend money bank may think proper, and may discount any bill of exchange, foreign or domestic, promissory note, or other negotiable paper, and the interest may be received in advance; and shall have the right to hold in trust, or as a collateral security for loans or advances or discounts, estate, real, personal or mixed, including the notes, bonds, obligations or accounts of the United States, states, individuals or corporations, and to purchase, collect and adjust the same, and to dispose thereof.

May receive mon

5. And be it enacted, That the said bank may receive money from de- ey to keep for its depositors, either with or without interest positors. payable thereon, and may buy or sell bullion, buy, sell, draw or negotiate bills of exchange, bills of lading, stocks and bonds of all companies, states and United States, or other good and sufficient securities.

Dividends out of what

6. And be it enacted, That the board of directors shall have to be paid. power to declare and pay dividends out of the earnings of the company to the stockholders, at such times and in such amounts as to them may seem proper; and the said company shall pay to the state treasurer a tax on such dividends as is or may be imposed by law.

Annual election

when be held.

7. And be it enacted, That the annual election for directors shall be on the second Tuesday of Jannary of each year, untors, less changed by the by-laws of the company; directors shall elect one of their number to be president, and shall have power to elect all other officers or agents they may deem necessary for conducting the business of the company; stockholders shall be entitled to one vote for each share of stock, and may vote in person or by written proxy, but said proxy must be dated within six months of and two weeks prior to the election for which such proxy was given; two weeks' notice by publication in one of the county papers shall be given of the time and place where such election will be held, and said election shall be conducted according to the by-laws.

May make

8. And be it enacted, That the board of directors shall by-laws,&c. make all by-laws necessary for properly conducting the business of the bank, not inconsistent with laws of the state or

United States, and shall have power to require payments of any amounts remaining unpaid on the stock of said bank, at such times and in such proportions as they think proper, and after thirty days' notice, under penalty, in case of non-payment as required, of forfeitures to the bank of such stock and all previous payments thereon.

empowered

nors or

depositors.

9. And be it enacted, That the board of directors shall Directors have power to pay, on application, the check, paper, receipt to pay mior order, of any minor or married woman, such money or married any part thereof as he or she may have deposited to his women if or her credit, or any interest or dividend accruing thereon, without the assent or approval of the parent or guardian of such minor, or the husband or creditors of the husband of such married woman, to attach or in any manner interfere with any deposit, interest or dividend due thereon to such minor or married woman; provided, that said cor- Proviso. poration shall pay into the treasury of the state such bonus and taxes as are now or may hereafter be required by law.

Approved March 12, 1874.

CHAPTER CCII.

An act to incorporate the "Smith and Garvin Manufacturing Company."

Names of corporators

name.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That James C. Cloyd, Joseph A. Van Hise, James D. Smith, Hugh R. Garvin and William H. Chickering, and their associates, shall be, and they hereby are declared to be a body corporate and politic in fact and in law, by the name of "The Smith and Garvin Manufac- Corporate turing Company," for the purpose of making, constructing, building, manufacturing and using, and vending all articles of machinery and machinist's and other tools, and articles of wood and metal and other manufacture, and for that purpose may hold and own such real estate, water rights and privileges, machinery, fixtures and effects as may be neces

Capital stock.

Business

of corporation by whem

managed.

May make by-laws,&c.

Stock deemed personal property.

Books of

account

kept.

sary to carry on said business, or may accrue to them in the course thereof, and may sell, mortgage, lease, or otherwise dispose of the same or any part thereof.

2. And be it enacted, That the capital stock of the company shall be two hundred thousand dollars divided into shares of one hundred dollars each; and the persons named in the first section of this act, are hereby appointed commissioners to receive subscriptions to said capital stock at such place in the village of Bricksburg as the majority of them may appoint, giving at least five days' notice in the newspapers published in said village; and as soon as twenty-five thousand dollars of said stock is subscribed, and ten thousand dollars paid in, the said commissioners shall by a like notice call the first meeting of the stockholders for the purpose of organizing said company.

3. And be it enacted, That the business of the said corporation shall be managed by not less than three directors, all of whom shall be stockholders, and one of whom shall be president, who shall hold their offices for one year, and until others shall be elected in their stead; and every year thereafter at such time and place, and upon such notice as the by-laws may prescribe, an election shall be held, at which election every stockholder shall be entitled to one vote, either in person or by proxy, for every share of stock he may own.

4. And be it enacted, That the directors of said corporation shall have power to make by-laws for its government not inconsistent with the laws of this state or of the United States, and may appoint such subordinate officers as the business of the corporation may require.

5. And be it enacted, That the stock of the said corporation shall be deemed personal estate, and shall be transfered in such manner as the by-laws may prescribe.

6. And be it enacted, That regular books of account shall Where to be be kept in the office of the said company (at Bricksburg aforesaid) to which books every stockholder shall have access at all reasonable times for the purpose of inspection. Powers of 7. And be it enacted, That the corporation hereby created corporation shall possess all the general powers, and be subject to the general restrictions and liabilities set forth in "An act concerning corporations," approved February fourteenth, one thousand eight hundred and forty-six (and the amendments or supplements thereto) as far as the same are applicable,

and the legislature may at any time hereafter modify or repeal the same.

8. And be it enacted, That the act entitled "An act to Repealer. incorporate the Smith and Garvin Manufacturing Compa

ny," approved April fourth, anno domini eighteen hundred and seventy-three, be and the same is hereby repealed.

9. And be it enacted, That this act shall take effect immediately.

Approved March 12, 1874.

66

CHAPTER CCIII.

An act to incorporate the Burlington Insurance Company, of Burlington City, New Jersey.

name and powers.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That all such persons as shall become stockholders in the capital stock hereinafter mentioned, their successors and assigns, are hereby constituted and made a body politic and corporate, by the name and style of the Burlington Insurance Company, of Burlington City, New Corporate Jersey," and by that name shall be known in law, and have power to sue and be sued, to defend and be defended in all courts whether in law or in equity, and by that name may have, purchase, possess and enjoy to them and their successors, lands, tenements and hereditaments, goods, chattels and effects of what nature or kind soever, necessary for the purposes of this corporation, and the same to grant, alien and dispose of at pleasure for the benefit of the said company; and may also have a common seal, and the same to alter and renew at pleasure; and also have perpetual succession; and also to create and establish such by-laws, rules and regula- May make tions, and appoint such officers and committees, and delegate by-laws,&c. to them such powers as they shall deem necessary and expedient for the government of the said corporation, and to put the same in execution; provided, the same be not contrary to the laws of this state.

2. And be it enacted, That the capital stock of said com