Names of corporators. Corporate name. Amount of CHAPTER CCCCXXXIX. An Act to incorporate the Hightstown and Princeton Turnpike 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Andrew J. Smith, S. M. Schanck, Joseph McMurran, A. Forman Jobs, Gilbert Leamer, Elwood Emily, A. M. Taylor, James Wyckoff, Thomas Jewell and Elisha Jewell, and such other persons as may be hereafter associated with them, shall be and are hereby constituted a body pody politic and corporate in law, by the name of "The Hightstown and Princeton Turnpike Company." 2. And be it enacted, That the capital stock of the said capital stock. corporation shall be twenty thousand dollars, with authority to increase the same to thirty thousand dollars, which stock shall be divided into shares of twenty-five dollars each, and shall be deemed personal estate, and transferable in such manner as the by-laws of said corporation shall direct. Payment of installments. Proviso. Proviso. 3. And be it enacted, That at the time of subscribing for said stock, two dollars shall be paid upon each share subscribed for to the commissioners, or any two of them, which money shall be paid over to the treasurer of the company as soon as one shall be appointed, and the residue of the subscriptions shall be paid in installments, at such times and at such places, and to such persons as the president and directors of the company shall from time to time direct, or give public notice thereof in manner aforesaid; and upon failure of the payment thereof as so directed, the said president and directors shall have power to forfeit the shares of each and every person so failing to pay the said installments, or any of them, to and for the use of said company; provided, that if the number of shares subscribed for shall exceed the number of shares authorized by this act, that the said commissioners shall apportion the said stock among such subscribers in proportion to the amount or number of shares by them subscribed for as aforesaid; provided also, that the stockholders shall, upon request, have the right to pay the stock subscribed, except the first installment, by work or labor upon said road, under such regulations, at such times and upon such notice by either party as the directors may determine; provided also, that no stockholder shall pay for his in- Proviso. stallments by labor for more than eight shares. made void 4. And be it enacted, That if the number of shares here- Act, how inbefore made necessary for the incorporation of the said company be not subscribed for within three years from the time of opening the said subscription books, this act, and all the subscriptions under it, shall be null and void, and the said commissioners, after deducting thereout the expenses incurred, shall return the residue of the money paid in to the respective subscribers, or their representatives, in proportion to the sums paid in by them. directors. 5. And be it enacted, That when fifty shares of said stock Election of shall be subscribed for, the said commissioners shall call a meeting of the stockholders, giving at least twenty days notice of the time and place of said meeting, as herein before directed with regard to the opening of said books, at which meeting the subscription books shall be laid before the stockholders, who shall thereupon proceed to elect by ballot five directors, a majority of whom shall be citizens of this state, to manage the affairs of said company for one year, of which election the said commissioners, or a majority of them, shall be judges; and at the expiration of that term, and annually thereafter, upon like notice, to be given by the directors for the time being, the said stockholders shall elect by ballot the same number of directors, a majority of whom shall be citizens of this state, as aforesaid; and at every such election, and in all other cases in which the stockholders shall be entitled to vote, a vote may be given for each share of the holder or holders thereof, either in person or by proxy. president. 6. And be it enacted, That within twenty days after the Election of annual election as aforesaid, the said directors shall elect from among their number a president of the said company, who shall be a citizen of this state, who shall hold his office for one year and until another shall be elected, and receive such compensation for his services as a majority of the said directors may direct, and shall be the presiding officer at all meetings of said directors, and shall have the casting vote when they shall be equally divided; he shall have charge of the seal of the company, and shall appoint the judge or judges of all elections of stockholders, or in case of his death, rectors, absence, or inability so to do, the said directors shall appoint some other suitable person, who for the time being shall possess the same powers and authority, and perform all the duties herein prescribed. Powers of di- 7. And be it enacted, That the said directors, or a majority, may supply any vacancy in the interval between the annual elections, by death or resignation, removal or refusal to act of any president or director, and may appoint a treasurer, who shall be a citizen of this state, and all officers, agents, superintendents or other servants that may be required to transact the business of the company, with such compensation as they may determine upon, and may exact from them such security for the due performance of their respective trusts as they may think expedient; they shall regulate the tolls, and have the superintendence and direction of all receipts and disbursements, and all other affairs of the company, and may make and enforce such ordinances and by laws as they may think expedient for regulating the transfer of stock, and for the general government of the company and management of its affairs; provided, the same are not repugnant to the constitution or laws of this state or of the United States. Proviso. ment. Annual state- 8. And be it enacted, That at the annual meeting of the stockholders, it shall be the duty of the president and directors of the preceding year to exhibit to the stockholders a full and complete statement of the affairs of the company during said term. Special meetings. Failure to elect not to dissolve. 9. And be it enacted, That special meetings of the stockholders may be called by order of said president or three of the directors, or by the stockholders owning one-fourth of the whole stock of the company, by giving notice of the time and place of holding the same, as herein before directed with regard to the annual meetings, which said notice shall specify the particular object of the meeting, but that no business of the company shall be transacted at such pecial meeting unless a majority in value of the stockholders attend and concur therein, who may require the books, accounts and all other papers and proceedings of the company to be exhibited to them by the president and directors. 10. And be it enacted, That if from any cause any election herein before named shall not be had at the time specified by this act, the same may be made at any other time upon notice as aforesaid, and that until such election be had the officers of the preceding year shall continue to hold their respective offices until others be elected in their stead, and that this charter shall not be defeated or avoided by reason of the irregularity or want of such election. May construct 11. And be it enacted, That it shall and may be lawful for said company to construct and make a turnpike road along turnpike road the public road, or any part thereof, commencing at the borough line at Hightstown, and thence running along the public road to the borough of Princeton; and all damage which any land owners may sustain by reason of the constructing of said turnpike road, to be determined as nearly as may be in the manner hereinafter provided for ascertaining and determining the damages which any land owner shall sustain by taking of stone, gravel or other material for constructing and maintaining said turnpike road; and the public road as designated in this section shall be and the same is hereby vacated, to take effect immediately after the completion of the turnpike road authorized to be built as aforesaid. 12. And be it enacted, That the width of said turnpike road Width of road shall not be less than thirty-two nor more than fifty feet, and sixteen feet of the same shall be sufficiently bedded and faced with stone, gravel or other material to make a solid, firm and even road, the said sixteen feet shall be so graded that in its progress no part of it shall rise above an angle of six degrees with the plane of the horizon; and the said company shall construct, keep in repair, maintain, and make good and sufficient bridges along the line of said road, not less than eighteen feet in width; and whenever said road shall be raised so much at the margin or side as to render carriages passing thereon liable to overset, the said company shall cause good and sufficient railings to be erected and maintained at the sides so as to prevent horses and carriages from running off. when no be made be of land 13. And be it enacted, That it shall be lawful for said Proceedings company, their officers, superintendents, engineers and work- agreement can men, with carts, wagons and other carriages, and with beasts tween compaof burden and draught, and all necessary materials, tools and ny and owners implements, to enter upon all lands contiguous or near to the route of said road, doing as little damage thereto as possible, repairing any breach they may make in the enclosure thereof, and to make all ditches and underdrains across and through such lands necessary for properly draining said road; and that when said company or its agents cannot agree with the owner or owners of such required land or materials for the use or purchase thereof, or when, by reason of the legal incapacity or absence of such owner or owners, no such agreement can be made, a particular description of the land or materials so required for the use of said company for the construction of said road shall be given in writing, under the oath or affirmation of some engineer or proper agent of the company, and also the name or names of the occupant or occupants, if there be any, and of the owner or owners, if known, and their residence, if the same can be ascertained, to one of the justices of the supreme court of this state, or to one of the judges of the court of common pleas of the county of Mercer, who shall cause said company to give notice thereof to the persons interested, if known and in this state, or, if unknown and out of this state, to make publication. thereof as he shall direct, for any term not less than twenty days, and to assign a particular time and place for the appointment of commissioners hereinafter named, at which time, upon satisfactory evidence to him of the service or publication of such notice aforesaid, he shall appoint, under his hand and seal, three disinterested, impartial and judicious freeholders, commissioners to examine and appraise such lands and materials and to assess the damages, upon such notice to be given to the persons interested as shall be directed by the justice or judge making such appointment, to be expressed therein not less than twenty days; and it shall be the duty of said commissioners, having first taken and subscribed an oatli or affirmation before some person duly authorized to administer an oath or affirmation, faithfully to examine the matter in question, and make a true report according to the best of their skill and understanding, to meet at the time and place appointed, and proceed to view and examine the said lands and materials, and to make a just and equitable estimate or appraisement of the value of the same, and assessment of damages, to be paid by said company for such land and materials and damages aforesaid, and to make a report thereof, under the hands and seals of said commissioners, or any two of them, and file the same within ten days thereafter, together with the aforesaid description of the land or materials, and the appointments and oaths or affirmations aforesaid, in the clerk's office of the county of Mercer, to remain on record therein, and shall be recorded by said |