General pow ers. Proviso. When and how dissolved. Books of account to be kept. Proviso. day of the annual election, it shall not therefore work a forfeiture of this charter; but a new election shall be ordered in conformity to the by-laws of said company, and the directors shall hold over until others are elected in their places. 6. And be it enacted, That the board of directors shall adopt by-laws declaring the number of directors necessary to form a quorum for the transaction of business, the officers of the company and their auties, and shall have authority to enact such rules and regulations as they may deem necessary for the management of the affairs of this company and the business of the board of directors, and shall have power from time to time to alter the said by laws; provided, the same as adopted shall not be contrary to the constitution of the United States or the laws of this state. 7. And be it enacted, That the number of directors may at any time be increased or diminished, or the capital stock diminished or this corporation dissolved, by a vote of threefourths of the stock represented in such voting, at a meeting called for that purpose, by a notice published once a week for four successive weeks in a newspaper printed in Hunterdon county; upon such dissolution the directors, or such persons as the stockholders shall appoint, and their survivors and successors, shall be trustees, and as such shall have full power to realize, sell, convey and collect the assets of said corporation, real and personal, and pay its debts, and divide the surplus among its stockholders pro rata. 8. And be it enacted, That the directors shall at all times. keep, or cause to be kept, proper books of account in which shall be entered all the transactions of the said corporation, which shall at all times be open to the inspection of the stockholders of the said corporation, or their legal attorney or attorney, and further that no transfer of stock shall be valid or effectual until such transfer shall be entered and registered in the books to be kept by the president and directors for that purpose. 9. And be it enacted, That this act shall be deemed a public act, and shall at all times be recognized and taken as such in all courts and places whatsoever, and shall take effect immediately; provided, that this corporation shall not be exempted from the provisions of the act entitled "An Act to increase the revenue of the state of New Jersey," approved March sixth, eighteen hundred and fifty-eight, as qualified by the supplement thereto, approved March eighteenth, eighteen hundred and fifty-nine. Approved February 16, 1870. CHAPTER LX. An Act to incorporate the Cylinder Cotton Gin Company. rators. 1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Stephen R. Parkhurst, Charles J. Bulkley, Warren H. Holt, John N. Bulkley, Oba Meeker, William Shove, Charles G. Rockwood, Linus Littell, and George Smallwood and their associates, shall be and they are hereby declared to be a body corporate and politic, in fact and in law, by the name of "The Cylinder Cotton Gin Com- Corporate pany," for the purpose of manufacturing cotton gins, burring machines and other machinery; and for that purpose may hold such real estate, machinery, personal property and effects as may be needful to carry on the said business or may accrue to them in the course thereof, and may sell, mortgage, lease, or otherwise dispose of the same. name. 2. And be it enacted, That the capital stock of said com. Amount of pany shall be one hundred and fifty thousand dollars, with capital stock. the privilege of increasing the same to five hundred thousand dollars, divided into shares of one hundred dollars each; and Stephen R. Parkhurst, Warren H. Holt, Charles J. Bulkley, or a majority of them, are hereby appointed commissioners to receive subscriptions to said capital stock; and as soon as one hundred and fifty thousand dollars of said capital stock is subscribed and ten per centum thereof is paid in, the said commissioners, or a majority of them, shall, by giving at least ten days notice thereof in a newspaper published at Newark, call the first meeting of the stockholders for the purpose of organizing said company. when and how 3. And be it enacted, That the business of said company Directors, shall be managed by not less than five nor more than nine chosen. directors, who shall hold their office for one year and until Books of ac kept. others are elected in their stead, and every year thereafter at such time and place in the city of Newark as the by-laws of said company may appoint, an election of directors shall be held. 4. And be it enacted, That the regular books of account count to be shall be kept at the office of the company, in the city of Newark, where the manufacturing business shall be carried on, to which books every stockholder may have free access, at all reasonable times, for the purpose of inspection; but no dividend shall at any time be made, except from the net profits of the company. General pow ers. 5. And be it enacted, That the corporation hereby created shall possess the general powers and be subject to the general restrictions and liabilities set forth in the act entitled "An Act concerning corporations," approved February fourteenth, eighteen hundred and forty-six, and the supplements thereto, so far as the same are applicable; and this act shall take place immediately. Approved February 16, 1870. Right to ex CHAPTER LXI. A Further Supplement to "An Act to incorporate the Columbus and Kinkora Railroad Company," approved April second, eighteen hundred and sixty-six. 1. BE IT ENACTED by the Senate and General Assembly of tend railroad. the State of New Jersey, That it shall and may be lawful for the Columbus and Kinkora Railroad Company, incorporated by an act approved April second, eighteen hundred and sixtysix, to continue and extend the said railroad, from its terminus at Columbus, in the county of Burlington, on or near the bed of the former Delaware and Atlantic Railroad to its point of intersection with the Pemberton and New York railroad at or near New Lisbon, in the said county of Burlington. 2. And be it enacted, That in order to enable the said com capital stock pany to extend the said road as is above mentioned, it shall Increase of and may be lawful for the said company to increase their authorized. capital stock to the sum of one hundred and fifty thousand dollars above the capital specified in the act to which this is a supplement, with the privilage of issuing bonds to the amount of two-thirds of the capital stock. sioners. 3. And be it enacted, That John Black, Henry Ellis, Ed- New commisward Wills, Richard H. Page and J. Elwood Hancock shall be and they hereby are appointed commissioners in conjunction with the former commissioners, to open books of subscription. for the said stock, in like manner and upon the same terms as are prescribed in said act. 4. And be it enacted, That the number of directors of the Increase of said company shall be increased from seven to nine. directors. 5. And be it enacted, That it shall and may be lawful for Limitation. the said company to commence the said road when twentyfive thousand dollars of the said additional stock shall have been subscribed, and if the said road shall not be completed to Lewistown within five years from the approval of this act, all the powers and privileges hereby granted shall cease and become void. nane. 6. And be it enacted. That said company shall hereafter Corporate be known by the name, style and title of "The Columbus, Kinkora and Springfield Railroad Company." Approved February 16, 1870. CHAPTER LXII. A Supplement to the act entitled "An Act to annex a part of the township of Plumsted, in the County of Ocean, to the township of Upper Freehold, in the County of Monmouth," approved March second, eighteen hundred and sixty-nine. habitants. 1. BE IT ENACTED by the Senate and General Assembly of Liability of inthe State of New Jersey, That the inhabitants of that part of the township of Plumsted, in the county of Ocean, annexed to the county of Monmouth, by the act to which this is a sup Proceedings to ascertain just amount of township debt plement, shall remain and continue liable for the payment of their just quota and proportion of the debt of the said township of Plumsted, and of the debt of the said county of Ocean incurred and contracted at the date of the passage of the act to which this is a supplement, as if said act to which this is a supplement had not been passed. 2. And be it enacted, That for the purpose of correctly ascertaining the just amount of said debt of the said towncounty and ship of Plumsted and of the said county of Ocean, due and owing at the date of the passage of said act, and of the just quota and proportion of said debts which the inhabitants of said part of the township of Plumsted so annexed as aforesaid, shall be liable to pay as aforesaid John G. Meirs, and Nicholas Waln, junior, of the township of Upper Freehold, in the county of Monmouth, and John L. Hulme and Thomas B. Jobs, of the township of Plumsted, in the county of Ocean, are hereby appointed commissioners to make a just and true valuation of all the taxable property in that part of the township of Plumsted annexed to the township of Upper Freehold, in the county of Monmouth, by the act to which this is a supplement, and also in the township of Plumsted, in the county of Ocean, and also to ascertain the full and just amount of the debt of said township of Plumsted and of said county of Ocean, due and owing at the time of the passage of the aforesaid act, and also the just quota and proportion of said debts for which the inhabitants of that part of said township so annexed as aforesaid by said act are liable, and shall make their report of the same in writing, to be signed by three or more of said commissioners on or before the fourth day of July next, and file the same under oath or affirmation in the clerks' offices of the counties of Monmouth and Ocean respectively, which report when so made and filed as aforesaid, shall be final and conclusive, and the amount of said debts so fixed and established by the report of said commissioners shall be assessed and collected upon the valuation of real and personal property as made by the assessor of the township of Plumsted in the year eighteen hundred and sixty-eight, in the manner hereinafter directed. Commission an oath 3. And be it enacted, That the said commissioners before proceeding to perform the duties prescribed in the foregcing section, shall each of them take and subscribe an oath or affirmation before any justice of the peace of this state, faithfully and honestly to perform the duties required of |