Aldermen not est in con. tracts. and seventieth section of the act to which this is a supplement, but after the expiration of the term of the respective commissioners of sewerage now in office, the said board shall appoint one competent person to be commissioner of sewerage for said city, at a salary not to exceed twelve hundred dollars a year, who shall hold his office for one year and until his successor shall enter into office. 7. And be it enacted, That no member of the board of to have inter- aldermen shall hold any other office under the city government, the salary or emoluments of which shall be paid from the city treasury, or be in any way pecuniarily interested in any contract, the cost or expense of which shall be payable out of the city treasury, nor become surety for any contractor under the city government, and if any member of the board of aldermen shall be elected or appointed to any such office, and shall accept the same, or be, or become interested pecuniarily in any such contract, or shall become surety as aforesaid, his office of alderman shall immediately thereupon become vacant, and shall be filled in the manner prescribed by law. Overseer oi the poor. 8. And be it enacted, That the overseer of the poor in and for the city of Paterson shall be appointed by the board of aldermen, and not elected as heretofore, but the rights, powers, duties and obligations of the said overseer of the poor shall be the same as are now conferred or imposed by law. 9. And be it enacted, That the collector of revenue of serve tax no- said city shall serve tax notices upon all assessed, repersons siding in said city, in the manner heretofore required to be done by ward collectors of said city. Collector to tices. Proceedings when no agreement can be made for purchase of lands. cannot agree 10. And be it enacted, That when, in the opinion of the board of aldermen, any land may be necessary for carrying out and perfecting any public improvement, except for streets, avenues or public highways, and the mayor and aldermen with the owner or owners of said lands or real estate for the use or purchase thereof, or if by reason of any legal incapacity or absence of such owner or owners no such agreement can be made, the said mayor and aldermen shall give notice to the person or persons interested, if known and in the state, or if the owner or owners be unknown, out of the state, or cannot be found, by publication in one or more newspapers printed and published in said city of Paterson, that they intend to make application to one of the judges of the supreme court of the state of New Jersey, on a day and at a place to be named in said notice, and not less than twenty days from the service or publication thereof, for the appointment of three commissioners, and on said day, and at the place named in said notice, the said judge shall make said appointment, under his hand and seal; and it shall be the duty of said commissioners, having first taken an oath or affirmation before some person authorized to administer the same, faithfully and impartially to examine the matter in question, and make a true report, according to the best of their skill and understanding, to meet at such time and place as they shall designate, giving at least fifteen days' notice of their said meeting, as heretofore directed; and on the day so appointed, to proceed to view and examine the said land and premises, and make a just and equitable estimate of the value of the same, and assess the damages which will accrue from taking the same; and the said commissioners shall report in writing, to the parties interested, the whole amount which the mayor and aldermen must pay each owner, with whom no agreement has previously been made, stating in said report the metes and bounds of the lands assessed, which said report shall be filed in the clerk's office of the said city of Paterson, to remain of record therein, and a copy thereof, certified by the clerk of said city, shall at all times be considered as plenary evidence of the right of the said city to hold, use, occupy, possess and enjoy the land so described; and it shall be the duty of the treasurer of said city to pay the owner or owners the amount assessed as aforesaid; and in case the owner or owners refuse to receive the same, live out of the state, cannot be found, or are incapacitated by law to receive the same, then the said sum shall be placed or deposited in like manner as directed by the one hundred and eighth section of the act to which this is a supplement, and thereupon the title of the premises mentioned in the said award, and so paid for, or the money deposited as aforesaid, shall be vested in the said mayor and aldermen. in case of ap peal. 11. And be it enacted, That if said owner or owners or any Proceedings of them are dissatisfied with the report of the commissioners under the preceding section the said party so dissatisfied may appeal to the circuit court, in the county of Passaic at its next term, whereupon the said court shall proceed to hear and determine the whole matter in the same manner as if said owner had summoned the said mayor and aldermen to appear before them, and if the jury upon the trial of the Election of commission cause shall find a greater sum than the commissioners have awarded or the mayor and aldermen offered in favor of said owner or owners then judgment thereon with costs shall be entered against the mayor and aldermen; but if the said jury shall find the same or a less amount than the mayor and aldermen shall have offered or the said commissioners awarded, then the person or persons appealing shall pay the costs in such manner as the court shall direct. 12. And be it enacted, That at the annual charter election ers of excise. to be held in said city of Paterson on the second Monday in April next, and at each annual charter election to be held in said city hereafter, there shall be elected from among the residents and voters therein, three persons to be commissioners of excise, who shall be freeholders in said city, and who shall constitute a court of excise in and for the city of Paterson, and shall hold their courts on the first Monday in each month from and after their election, and they shall have the same powers, perform the same duties, and be subject to the same liabilities, as the excise commissioners in said city now have, perform and are subject to, under the provisions of the act to which this is a supplement, but the said commissioners shall not receive any compensation for their services, nor shall any license hereafter be granted by the present board of excise of said city, Term of office of city clerk. Repealer. 13. And be it enacted, That the city clerk elected on the second Monday in April next shall hold his office for the term of two years, and thereafter the city clerk shall be elected and serve for the term of two years instead of one year as heretofore. 14. And be it enacted, That all acts and parts of acts heretofore passed, so far as the same are inconsistent with the provisions of this act, be and the same are hereby repealed. 15. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCCXLVIII. An Act to incorporate the Elwood Manufacturing and Building Company. porators. 1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Francis W. Strong, S. R. Colwell, Albert F. Hall, Elias Wright, Charles B. Thompson, John McNeil, James B. Wright, George W. Rich, Thomas Irving, John B. Mick, Foster F. Sweet, Andrew Clelland and Silas G. Pierce, and their associates and successors, be and they are hereby constituted and declared a body corporate and politic in law, by the name of "The Elwood Manufac- Corporate turing and Building Company," with all the rights, powers and name. privileges incident to a corporation, for the purpose of conducting the business of manufacturing and building, and by that name the said corporation shall have power to agree for and purchase so much land as shall be deemed necessary and expedient by them in the conduct of their business, and to erect such buildings as shall be required for the use of said corporation, and shall also have power to purchase, hold, convey, lease, improve and otherwise dispose of any lands, tenements, hereditaments, goods and chattels whatsoever, and do all other acts and things necessary and proper to effect the objects of said corporation. capital stock. 2. And be it enacted, That the capital stock of this com- Amount of pany shall consist of thirty four shares of a par value of one hundred dollars each, with the privilege of increasing the same to four hundred shares, all of which shall be personal property, and shall be transferable in such manner and subscribed and paid for at such times as the said corporation shall direct, and in case of a failure by any stockholder to pay his or her installments at the time and place appointed for the payment thereof, such stockholders may at the option of the board of directors of said company incur a forfeiture of his or her share or shares, and all previous payments thereon to the said corporation. 3. And be it enacted, That the said corporators, Francis Names of W. Strong, S. R. Colwell, Albert F. Hall, Elias Wright, managers. rectors. Charles B. Thompson, John McNeil, James B. Wright, George W. Rich, Thomas Irving, John B. Mick, Foster F. Sweet, Andrew Clelland and Silas G. Pierce shall manage the affairs of said corporation until it shall have been organized as hereinafter provided. Election of di- 4. And be it enacted, That it shall be the duty of said corporators immediately after the passage of this act, or as soon thereafter as it can consistently be done, to hold a meeting and appoint a time, place and manner in which subscriptions to the capital stock of said corporation may be made, and that so soon as thirty shares shall be subscribed they shall call a meeting of the stockholders, who shall organize the said corporation by electing from their number nine directors, and the adoption of a constitution and by-laws for the said corporation, and at the said election and at all subsequent elections, each stockholder shall have one vote for each share of stock held by him or her, and no more, and a majority of the votes cast shall determine the election. Powers of directors. ment. 5. And be it enacted, That thereafter the said board of nine directors (any five of them shall constitute a quorum) shall manage the affairs of said corporation in accordance with the provisions of this act, and the constitution and bylaws adopted by the stockholders aforesaid; and that the said directors may make such dividends as the profits, plans and rules of the said corporation will allow. Annual state- 6. And be it enacted, That it shall be the duty of the directors of the said corporation to call an annual meeting of the stockholders, at the time fixed in the constitution adopted as aforesaid, and to make a report at each annual meeting setting forth the affairs of the company, and that if required by any of the stockholders, shall produce the books, accounts and papers of the company; and if the directors shall neglect or refuse to call an annual meeting of the stockholders at the time prescribed, then said meeting may be called at any time thereafter by any number of stockholders holding not less than ten per cent. of the stock paid in. Acts legalized 7. And be it enacted, That so far as said company, consisting of the aforesaid persons and their associates, is already incorporated and organized and has executed its business in conformity to the foregoing provisions of this act, such incorporation and organization, and such business transactions shall be and are hereby declared to be legal and |