May borrow

money and

county of Warren, at a meeting held for that purpose on the ninth day of July, eighteen hundred and sixty-nine, by a vote of two-thirds of the legal voters of said district present at said meeting authorized the trustees of said school district to purchase a lot of land for said district and to build a school house thereon and to raise by taxation for the purpose of paying therefor the sum of three thousand dollars; and whereas, said trustees in pursuance of the authority and directions given to them by said meeting have purchased a lot of land and have had the same properly conveyed to said district and have erected a good and substantial school house thereon which is now in possession of said district, and in so doing have incurred a debt of about two thousand dollars over and above the sum authorized to be raised by taxation as aforesaid; therefore for relief thereof:

1. BE IT ENACTED by the Senate and General Assembly of issue bonds the State of New Jersey, That it shall be lawful for the trustees of said school district and they are hereby authorized to borrow such sums of money as shall and may be necessary to pay the said indebtedness of said district, but such sums of money shall not exceed in amount the sum of three thousand dollars, and the trustees of said school district are hereby authorized to issue bonds for the money which may be so borrowed, to bear interest and to become due and payable at any time within two years from the time such bonds may be given, and the said trustees are also hereby authorized to make and execute a mortgage on the said school lot and building in such form as may be necessary to secure the payment of the said bonds and the interest which may accrue or become due thereon.

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

Approved March 17, 1870.

CHAPTER CCCLXXIV.

An Act to incorporate the Roselle Gas Light Company.

perators.

name, and

1. BE IT ENACTED by the Senate and General Assembly of Names of corthe State of New Jersey, That Aaron D. Hope, Richard' Kipling, Adrian W. Smith, Hiram P. Baldwin and David Mulford, and all and every person or persons who may become subscribers according to the mode hereinafter prescribed, and their successors, be and the same are hereby created a body politic and corporate, in fact, by the name of "The Roselle Gas Light Company;" and by the said name the said Corporate corporation shall have power to sue and be sued, plead and powers. be impleaded, contract and be contracted with, and to make, manufacture and sell illuminating gas, to be made from coal or other proper materials, for the purpose of lighting the streets, buildings, manufactories and public grounds in the village of Roselle, in the county of Union, and vicinity, and under and by the aforesaid corporate name and style, the said corporation shall have power and authority to enter into and execute any and all proper contracts, agreements, understandings, undertakings and covenants for the furtherance of the objects for which the said corporation is created, with power and right to enforce the same, in all proper way and manner under the laws of this state; and shall be capable of purchasing, taking and holding any estate, real or personal, May purchase, necessary to give effect to the specific purpose of this corpora- real and pertion for the accommodation of their business and concerns, or sonal estate. which it may be necessary for the said corporation to acquire and hold for the purpose of securing debts, which have become due to them in the regular business of the said corporation; provided, that the real estate shall not exceed what may be necessary for the purpose mentioned; and also to purchase and hold any and all patents and patent rights necessary and proper for the purpose of carrying out the object and intent for which such corporation is created, and for the accomodation of its business and concerns.

2. And be it enacted, That the said corporation shall be and is hereby empowered and authorized to enter upon and

hold and sell

make excava

down pipes.

Authorized to make any and all necessary and proper excavations for the tions and lay purpose of laying down, and to lay down, all necessary and proper gas pipes and conductors, and to erect all necessary and proper posts, burners, lights and reflectors in any and all of the streets, lanes, alleys, avenues, roads, highways and public grounds within the said village of Roselle and vicinity, and to do all things necessary and proper to be done for the purpose of lighting the same, and the dwellings, stores, and other buildings and places in the said village of Roselle and vicinity; provided, that the public travel shall at no time be unreasonably or unnecessarily obstructed or impeded thereby, nor shall the streets, lanes, alleys, avenues, roads, highways and public grounds be permanently injured by the same, but the said corporation shall put and leave such streets, lanes, alleys, avenues, roads, highways and public grounds in as good, perfect and permanent condition as the same were in before the laying of the said pipes and the erection of the said posts.

Proviso.

Amount of capital stock.

3. And be it enacted, That the capital stock of the corporation shall not exceed fifty thousand dollars, in shares of twenty-five dollars each; and the persons named in the first section of this act are hereby appointed to receive subscriptions to the capital stock; and the said commissioners, or a majority of them, shall open books for that purpose at such time or times and in such place or places within this state as they, or a majority of them, shall designate, by public advertisement to be previously inserted at least three weeks in a public newspaper printed in the county of Union, and shall continue the same until the said capital stock shall be subscribed, or, at their discretion, close the same after they have remained open two days, and again open the same at some other time or times, place or places, giving public notice thereof as aforesaid, and may require each subscriber to pay to them at the time of subscribing not exceeding twenty per centum of his subscription, which shall be paid over to the directors of the said corporation, to be appointed as hereinafter prescribed, and all the powers of said commissioners shall cease upon the appointment of the directors; and the board of directors when appointed shall have full power and authority, from time to time, to open the books for further subscriptions until the whole capital stock is taken; and the said directors may call on the subscribers for the payment of installments in such sums and at such times and under such forfeitures as they may deem expedient; and the office of

said company shall be located at Roselle, in the county of Union.

directors.

4. And be it enacted, That the management of the con- Election of cerns of the said company shall be vested in five directors, to be selected from the stockholders, a majority of said directors to be citizens of the state of New Jersey; and said directors shall choose, by a plurality of votes, from among themselves a president; and as soon as may be after eight thousand dollars shall have been subscribed, the said commissioners, or a majority of them, shall convene the said stockholders, by public notice in a newspaper published in the county of Union, at such time and place in the village of Roselle as they may designate to choose the first board of directors, who shall hold their offices from the first Monday in April next ensuing, and until others are elected in their stead; and the election for directors shall be held annually on the first Monday in April in the village of Roselle, and public notice of such election shall be given at least ten days. previously by publication in a newspaper published in the county of Union; all vacancies in the board of directors may be filled for the unexpired term by appointment to be made by the remaining directors, and all elections for directors shall be by ballot of the stockholders, or their proxies, allowing one vote for each share which they shall hold in their name at the time of voting.

elect directors

5. And be it enacted, That if at any time an election is Not dissolved not held on the day herein appointed, the corporation shall by failure to not for that cause, nor for any non-user, be dissolved, but such election shall be held in the manner described by the by-laws, at any time within one year.

6. And be it enacted, That the directors for the time be- Quorum. ing, shall form a board, and a majority be a quorum, for the

transaction of business.

be open to in

7. And be it enacted, That the stock of the corporation Books shall shall be transferred, according to its by-laws and regula- spection. tions, and shall be considered personal property, and the stock and transfer books shall be open at all times to the inspection of the stockholders; and the books of account in which shall be fairly shown all the transactions of the company shall be open at all reasonable times to their inspection.

8. And be it enacted, That if any person shall wilfully in- Penalty for jure any conduit, pipe, gasometer, or other thing appertain- injuring works

Restrictions.

May borrow money.

State assessment.

ing to the works of the company, or obstruct the same, the person so offending shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by fine, not exceeding three hundred dollars, or imprisonment not exceeding two years, or both; provided, no such criminal prosecution shall impair the right of the company to an action for damages by civil suit.

9. And be it enacted, That the corporation established by this act shall possess the general powers and be subject to the restrictions and liabilities imposed by "An Act concerning corporations," approved February fourteenth, eighteen hundred and forty-six, so far as applicable.

10. And be it enacted, That the said company shall have power to borrow money to an amount not exceeding one-half its capital stock paid in, and to mortgage their works, property and franchises, and to execute all necessary assurances for securing the money so borrowed, with interest, not exceeding seven per centum per annum, and may receive property suitable for its purposes, at a valuation to be agreed upon, in lieu of cash subscriptions.

11. And be it enacted, That this act shall be deemed a public act, but the corporation shall not be exempt from the sum or sums of money required to be paid to the state treasurer by an act entitled "An Act to increase the revenue of the state of New Jersey," approved March sixth, eighteen hundred and fifty-eight, and it shall take effect immediately. Approved March 17, 1870.

Corporate

name.

CHAPTER CCCLXXVI.

An Act to amend an act entitled "An Act to incorporate the Cumberland and Atlantic Railroad Company," approved April fourth, eighteen hundred and sixty-seven.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the corporation named and intended to be organized by the above mentioned act, shall