Township Repealer. five days previous to said meeting, and designating the time and place of such meeting; and the said land owners, when assembled, shall choose a chairman and secretary, who shall determine the number of votes to which each land owner is entitled, receive orally and count the votes, and their certificate of determination shall be evidence thereof; and such certificate of their determination shall be filed with the board of commissioners, and when so filed, the said street or parts of streets so designated, shall thereafter be subject to the provisions of this act, and said board of commissioners shall proceed to have the sidewalks of such street or parts of streets graded and paved in the manner herein prescribed. 15. And be it enacted, That three quarters of the whole amount of road taxes which shall hereafter be assessed, levied and collected by the officers of the township of East Brunswick, within the limits of said town of Washington, for roads or for the improvement or repairs of roads, shall not be applied to roads without the boundaries of said town, but that the assessor and collector of said township shall hereafter assess and collect upon and from the taxable inhabitants of said town, and on all lands liable to be taxed therein, the road tax which shall have been ordered to be raised at the previous annual township election, of the township of East Brunswick, in the same manner as the same have been heretofore assessed, levied and collected, and it shall be the duty of the collector of said township to pay over three-quarters of the amount of the road tax by him received, which shall have been assessed and collected within the limits of said town of Washington, to the treasurer of the said board of commissioners, to be expended and applied under the direction of said commissioners, in repairing and improving the streets of the aforesaid town of Washington, and for this purpose the said assessor of said township shall, by some convenient mark in his duplicate, designate the road taxes assessed within the limits of said town of Washington; and in case of any dispute respecting such designation on the apportionment of the said road taxes, the same shall be determined by the commissioners of appeal in cases of taxation for said township. 16. And be it enacted, That all acts relating to the election of overseers of the highways in the township of East Brunswick, so far as they relate to the parts of said town ship embraced within the aforesaid limits of the town of Washington, are hereby repealed. for improve 17. And be it enacted, That it shall and may be lawful for Amount voted the legal voters of said town, at their annual election for ments. town officers as hereinbefore provided, or at any special election appointed by the board of commissioners for that purpose, by notice in writing, set up in at least five public places in said town, for at least ten days before the day appointed for holding such special elections, to vote by ballot for such sum or sums of money for the then ensuing year, as they may think necessary for any special purposes for the improvement of said town of Washington, other than is herein before provided for in this act; provided, that such sums in the aggre gate shall not exceed in any one year fifteen cents on each hundred dollars of the valuation of the taxable property liable to assessment under this act, which sum or sums of money so voted shall be assessed and levied and collected under the direction of said board of commissioners, in the same way and manner as is hereinbefore provided for the collection of the moneys for street crossings, etc. Proviso. missioners. 18. And be it enacted, That no compensation shall be paid No compensato any of said commissioners; that no moneys shall be paid toners. by the treasurer of said board of commissioners for any purposes under this act, except upon resolution of the board upon bills countersigned by the chairman; and that the town clerk of said town shall keep minutes of the proceedings of said board, and record the same in a book provided for that purpose, and further, that no ballot cast at any annual election in said town shall contain thereon the names of more than three persons of the same political party, in which case all such ballots shall be void and of no effect. statement of pended. 19. And be it enacted, That said commissioners shall render Detailed fall and detailed statements of all moneys collected and ex moneys colpended by virtue of the provisions of this act, on the day of lected and exeach annual election for officers under said act; and at the place of holding such election, before such election takes place, and by publishing at least one week before said annual election, a synopsis of said statements, by notices in three of the most public places in said town. 20. And be it enacted, That nothing in this act shall be construction construed to make the persons mentioned in the third sec- of act. tion of this act, as well as all other subsequent officers of said town, ineligible to any position at any election hereafter. 21. And be it enacted, That this act shall take effect immediately. Approved February 23, 1870. Names of corrators. CHAPTER CXI. An Act to incorporate the Phillipsburg Stove Works. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Jonathan Ingham, William Ingham, John Maxwell, Horace M. Norton, Alexander Moore, George W. Bearder and George H. Stafford, and the survivors of them, and all such persons as may hereafter be associated with them or the said survivors, their successors and assigns, shall be and they are hereby constituted a body corporate and politic, in fact and in law, by the name of "the Phillipsburg Stove Works," for the purpose of manufacturing stoves and doing a general foundry and machine business, in the town of Phillipsburg, in the county of Warren. 2. And be it enacted, That the said corporation may purand personal chase, hold, sell, convey, mortgage, lease and dispose of such real and personal property as may be needful and proper for use in carrying on said business, or may accrue to them in the course thereof. Corporate name. May hold real estate. Election of directors. 3. And be it enacted, That the stock, property and concerns of said corporation shall be managed and conducted by not less than five nor more than thirteen directors, who shall elect one of their number president, and shall also have power to appoint a treasurer and secretary and such other officers and agents as they may deem necessary, and said directors shall be stockholders in said corporation, and shall hold their offices for one year, and until others are chosen in their stead; said directors shall be elected at the annual meeting of the stockholders, to be held on such day, at such hour of the day and at such place as the by-laws of the corporation. shall direct, at which election each stockholder shall be en titled to one vote, either in person or by proxy, for each share of stock by them respectively held; and until such election take place, the said Jonathan Ingham, William H. Ingham, Horace W. Norton, John Maxwell, Alexander Moore, George W. Bearder, and George H. Stafford, being stockholders and directors of this corporation, now doing business under the general manufacturing act, approved March second, eighteen hundred and forty-nine, by the name of the Phillipsburg Stove Works, shall be directors of this corporation; a majority of the directors, shall on all occasions, when assembled at such time and place as the by-laws shall prescribe, constitute a body competent to transact business, and all business matters before them shall be decided by a majority of votes; and in case a vacancy shall occur in the board of directors by death, resignation or the failure of the stockholders to elect the full number authorized by this act, the remaining directors for the time being, or a majority of them, shall have power to fill such vacancy by the appointment of any stockholders. on failure to 4. And be it enacted, That in case it shall happen that an Not dissolved election of directors shall not be made upon the day desig- elect directors nated for that purpose, the said corporation shall not for that cause be deemed to be dissolved; but the stockholders may proceed to hold an election for directors on any other day, such notice having been given of the time and place of such election as the by laws may prescribe. 5. And be it enacted, That the capital stock shall be fifty Amount of thousand dollars, and may be increased to one hundred thou- capital stock. sand dollars, divided into shares of one hundred dollars each, which shall be deemed personal property and shall be transferable upon the books of the corporation in such manner as the by-laws of such corporation shall direct; and it shall be lawful for the directors, or a majority of them, to call and demand from the stockholders respectively all sums of money by them subscribed of the said capital stock or of the increased capital, if at a meeting of the stockholders twothirds in interest shall decide to increase it, but not exceeding the amount in this section previously mentioned, at such times and in such proportions as they shall think proper, and any stockholders shall fail to pay such demand within thirty days after a notice shall have been published for the space of fifteen days in one or more newspapers in the county of Warren, then the directors of said company shall if Principal of fice. Annual statement. Property vested in corporation. How dissolved Proviso. have power to sell so much of said delinquents' stock as may be necessary to make up the required amount, together with interest thereon, and all expenses; provided, that the aforesaid directors shall advertise said sale for two weeks in one or more newspapers published in the aforesaid county of Warren. 6. And be it enacted, That the principal office of the said company shall be at Phillipsburg in said county, at which office regular books of account shall be kept, to which books any stockholder shall have free access at all reasonable times for the purpose of examining the same. 7. And be it enacted, That the said directors shall submit to the stockholders at their annual meeting, a written statement of the affairs of said corporation, setting forth the amount of the capital stock paid in, the amount of money due to and from said corporation, and the amount of all assets and property belonging to said corporation as nearly as the same can be ascertained. 66 8. And be it enacted, That the property, both real and personal, now belonging, or in any wise appertaining to the Phillipsburg Stove Works," a corporation doing business under the general manufacturing act of this state as aforesaid, shall pass to and become vested in the company hereby incorporated as "The Phillipsburg Stove Works," without any deed or other conveyance to that effect. 9. And be it enacted, That the said corporation hereby created may be dissolved by a general meeting of the stockholders of the same specially called for that purpose; provided, that at least four-fifths in value of the stockholders shall concur therein; and upon such dissolution the directors for the time being, and the survivors of them, or such persons as the stockholders shall appoint, shall be trustees for the settling all the affairs of the company, collecting and disposing of all its property and assets, paying its debts and dividing its surplus among the stockholders in proportion to their respective interests in the stock. 10. And be it enacted, That this act shall take effect immediately. Approved February 23, 1870. |