be made at the time and place appointed in the said notice by such subscribers as shall attend for that purpose, either in person or by lawful proxy, each share of the capital stock entitling the holder thereof to one vote; and the said above named corporators, or a majority of them, shall be inspectors of such election, and shall certify under their hands the names of the persons duly elected as directors, and deliver over the subscription books to the said directors at the first meeting of the said directors; and the said directors so chosen as aforesaid shall, at their first meeting, or annually, at the annual election of the said company, or as soon as may be after every such election, choose out of their own number a president, and in case of the death, resignation or removal of Vacancies, the president or any director, such vacancy or vacancies may be filled for the remainder of the year wherein they may happen, by the said board of directors, or a majority of them; and in case of the absence of the president, the said board of directors, or a majority of them, may appoint a president pro tempore, who shall have such powers and functions as the by-laws of the said company shall provide.

how filled.

by failure to elect directors

4. And be it enacted, That in case it should happen that Not dissolved an election of directors should not be made during the day when, pursuant to this act, it ought to be made, the said corporation shall not for that cause be deemed dissolved, but such election may be held at any other time, and the directors for the time being shall continue to hold their office until new ones shall have been chosen in their places.

installments

5. And be it enacted, That six directors of said company Failure to pay shall be competent to transact all business of the said com to work forpany, and they shall have power to call in the capital stock feiture. of said company by such installments not to exceed twenty dollars on each share at any one time, and at such times as they may direct; provided, that such installments shall not Proviso. be called for at a shorter period than thirty days from each other, and in case of the non-payment of said installments, or any of them, to forfeit the share or shares upon which such default shall arise, and to make and prescribe such bylaws, rules and regulations, as to them shall appear needful and proper touching the management and regulation of the stock, property, estate and effects of the said company, and shall also have power to appoint a treasurer and secretary, and so many clerks and servants as to them shall seem meet,

May survey, lay out and

road.

and to establish and fix such salaries to them and also to the president as to the said board shall appear proper.

6. And be it enacted, That the president and directors of construct rail. the said company, be and they are hereby authorized and invested with all the rights and powers necessary and expedient to survey, lay out and construct a railroad from some convenient point on the line of the Belvidere Delaware railroad, not more than six miles from Trenton, thence passing by some convenient route and within one mile of the villages of Pennington and Hopewell, to the present westerly terminus of the Millstone and New Brunswick Railroad with authority to build a branch railroad to connect with the New Jersey Central Railroad at Somerville or any point east of it; but such railway shall not exceed one hundred feet in width unless more land shall be required for the slopes of cuts and embankments, with as many sets of tracks and rails as said company may deem necessary; and it shall be lawful for the said president and directors, their agents, engineers, superintendents, or others in their employ, to enter at all times upon all lands or waters for the purpose of exploring, surveying, leveling and laying out the route or routes of such railway, and of locating the same, and to locate and erect all necessary works, buildings, conveniences, appurtenances, and appendages thereof, doing no unnecessary injury to private or other property; and when the route or routes of such railway, and the location or locations of other works, buildings, conveniences, appurtenances and appendages there. of shall have been determined upon, and a survey of such route or routes, location or locations deposited in the office of the secretary of state, then it shall be lawful for said company, by its officers, agents, engineers, superintendents, workmen, and other persons in their employ, to enter upon, take possession of, hold, have, use, occupy, and excavate any such lands, and to erect embankments, bridges and all other necessary works, lay rails, and to do all other things which may be suitable or necessary for the completion, management or repairs of said railways, subject to such compensation. as is hereinafter provided; provided always, that the payment or tender of payment of all damages for the occupancy of lands through or upon which the said railway and its conveniences, appurtenances and appendages may be laid out or located, be made before the said company, or any person under their direction or employ, shall enter upon or break

Proviso.

ground in the premises, except for the purpose of surveying and laying out said railway and its conveniences, appurtenances and appendages, and of locating the same, unless the consent of the owner or owners of such lands be first had and obtained.

agreement can be made with owners of pro

7. And be it enacted, That if the owner of the land on Proceedings which such survey or location for said company shall be incent made, shall not be willing to give the same for such purpose, and the said company and owner cannot agree as to the perty. price of the same, it shall be the duty of any justice of the supreme court, who is disinterested in the premises, upon the application of either party, and after given ten days notice in writing to the opposite party of such application, and after hearing the parties, to appoint three disinterested commissioners to assess the price or value of said lands, who shall be sworn or affirmed faithfully to execute the duties of such appointment, and after like notice to both parties of the time and place, shall meet, view the premises and hear the parties and evidence if desired and thereupon make such decision and award, as to them shall appear just and proper, and transmit such decision and award, together with a description of the said land and the quantity taken, by whom owned and how situated and bounded, and described in writing under their hands and seals, or under the hands and seals of any two of them, to the justice who appointed them, and to be by him returned and filed in the office of the clerk of the county wherein the lands lie, together with all the papers before him relating thereto; there to be kept as a public record, and copies taken if required by either party, and if either party shall feel aggrieved by the decision and award of the said commissioners, the party so aggrieved may appeal to the circuit Proceedings court at the next term after such decision and award, by pro- peal. ceeding in the form of petition to the said court, with five days notice in writing to the opposite party of such appeal, which proceeding shall vest in the said circuit court full right and power to hear and adjudge the same, and if required they shall award a venire in proper form for a jury before them, who shall hear and finally determine the same; and it shall be the duty of the said jury to assess the value of the said lands and all damages sustained; and if the said jury be demanded by the said company, and they shall find a greater sum than the said commissioners, then judgment

in case of ap

Proceedings

ability.

shall be given with costs against the said company, and execution issued if need be; but if the said jury shall be demanded by the owner or owners, and shall find the same or a less sum than the commissioners awarded, then the cost shall be paid by the owner or owners, and shall be deducted out of the said sum awarded by the said commissioners, or execution issued therefor, as may be directed by the said court, and upon payment or tender of the sum so found by the said commissioners, or by the jury with costs, if any, the said company shall be deemed to be seized and possessed in fee simple of all such lands and real estate appraised as aforesaid.

8. And be it enacted. That in case any owner or owners in case of dis- of such lands or real estate shall be feme covert, under age, non compos, out of the state or under any other legal disability which would prevent their agreement with the said company, then it shall be the duty of the said company to pay the amount of any award or report so made in behalf of any such person, into the court of chancery to the clerk thereof, subject to the order of the said court for the use of any such owner or owners, all of which said proceedings, as well under this as the preceding section of this act, shall be at the proper costs and charges of the said company, except in cases of appeal above provided for, and the said justice shall and may order, and direct, as to the amount of costs and charges of such valuation and appraisement, and witness fees, and as to the payment thereof in cases where an appeal

Public crossings to be

is made.

9. And be it enacted, That it shall be the duty of the said kept in repair company to construct and keep in repair, good and sufficient crossings, where any public or other road shall cross the same, so that the passage of carriages, horses and cattle, across the said railway shall not be impeded thereby.

Corporations

scribe for the

10. And be it enacted, That it shall and may be lawful that may sub- for the Camden and Amboy Railroad and Transportation capital stock. Company, the Delaware and Raritan Canal Company, and the New Jersey Railroad and Transportation Company, or either of the said companies, to subscribe to the capital stock of the said company herein above incorporated, or any part thereof, and also to endorse the bonds of said company and lease the road thereof upon such terms as may be agreed upon by the respective parties, and to make any other agreement or arrangement with the said company which the said

parties may deem expedient; and in case the said companies shall so endorse the bonds of said company hereby incorporated, and shall be obliged to pay the same or any part thereof, they shall have the benefit of any mortgage which may be given for the security of said bonds, and in case they, the said companies, or either of them, should lease the said road, it shall be lawful for them to operate and run the same, and to avail themselves of all the privileges and franchises granted by this act in relation to operating said road, and charging for the transportation of persons and property thereon.

11. And be it enacted, That the president and directors Dividends. shall, within one year after the said railway shall have been completed, declare and make such dividends as they may think prudent and proper of the net proceeds thereof, and shall in like manner semi-annually thereafter declare such dividends and pay the same to the stockholders of the said company in proportion to the amount of shares held by them respectively, as they may deem prudent and proper.

injuring

works, &c.

12. And be it enacted, That if any person shall wilfully Penalty for impair, destroy or obstruct the use of the railway constructed under the provisions of this act by the said company, or any of its necessary wharves, bridges, carriages, machines or appendages, such person or persons so offending shall forfeit and pay to the said company the sum of fifty dollars, to be by it recovered in any court having competent jurisdiction in an action of debt, with costs, and further shall be liable for all damages.

costs and expenses to be made and filed

13. And be it enacted, That as soon as the said railroad State ment f or any part of it is in operation, the president of the said company shall make under oath or affirmation, a statement of the amount of the cost of the said railroad including equipments, appendages and all expenses in the office of the secretary of state, and annually thereafter on the first Monday in January of each year, he shall under oath or affirmation make a statement to the secretary of state, of the cost of the equipment, appendages and expenses of said road; and after the said railroad or any part thereof shall be in operation the said corporation shall pay to the treasurer of this state a tax of one-half of one per centum on the cost, State tax. equipment and appendages of said road, to be paid annually thereafter on the first Monday in January of each year, and such other taxes as may be assessed from time to time by a