The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1874-05-13


and the streets, side and cross-waiks, public
/ grounds, lanes and avenues, shall not Be in
jnrcd, butnll be left III as good and perfect 4
/ condition - before laying such pipes or erect
| ing such posts, and provided also. that such
company shall confortn to and DO subject 10
Tho regulations ana ordinanses ~ she Sespec
tive cities and ltoArns made fox tho bshadt and
pretectaon ~ theipublics ..s.s..ss $500, :..,
ing of such company shai s. c ,iiss WI 81
notice. signed BY 4 mnjority 81 the persons
named in thearticles Of assobiation, desicna-
ting the time and place anA purpose Of sl{uh
| meeting; and such notice, for one week 81
least before the time Of the injecting. sisaIi III
published in one or more newspapers of the
county, where the company may he ,estab.
lished, Or ifne newspaper Is publisheain the
county, ~ newspaper published III all adj
Joining county at which first meeting there
shall be elected a board Of directors, president,
secretary. and Treasurer, to hold their oflices
until the second Monday of january next sue
ceeding such election, and until others arc
chosen in their stead on the second Monday
OF january of each year, ut such time and
place as a majority Of the directors may an
point the stockholders shall meet for the
purpose of electing a board Of directors and
other officers for the ensuing year; and pub
lie notice shall be given of the time and place
ofholdng such election, by advertisements
| lished as aforesaid.
{. And be it enacted, That the business Of
the company shall be managed and conducted
by the board of directors thereof. who shall
not be less than three in number, and respect
lively Stockholders thereof, majority shall be
residents of this state; and any VACANCY in
said board of directors may be supplied by the
survivors untilthe next annual Election; all
other officers, agents. and factors Of the COM
pany, shall be chosen n such manner and
hold Office for such term is Slfall be directed
by the bylaws. 8 - ss,passssi igsafss 49,
8. And be it enacted, Thatthe duties of all
officers, agents and factors, shall DO designa-
ted by the board pf directors the treasurer
shall give bond In such sum and With such
suretes as the board of directors may require
for the faithful discharge of his duties. ~.
0. And be it enacted, That the shares of
stock shall be deemed personal property and
transferable OH the books of the company iii
such manner as the bylaws may provide the
directors OF such company, from time to time
may assess upon each share such sums of
money, not exceeding in the aggregate the
par value of each share, and shall direct the
treasurer, to give thirty days notice of the
time Of the payment thereof shall be due and
payable. Fs
10. And be it enacted, That whenever tile
owner or ownersof such shares neglects to nav
the sum or sums duly assessed thereon, for
the space OF thirty days after the time ap-
pointed for the payment thereof, the treas
urer may sell at public auction such number
of shares of the delinquent owner or owners.
as will pay all the assessments then due from
him or them. with interest, and all necessary
incidental charges; provided, he shall give
notice of the time and place appointed fol
such sale, and OF the same due upon each share
by advertising the same for three successiv,
weeks in newspaper, circulating in til,
county where such company is established
the treasurer, upon making such sale, shal
transfer such shares to the purchaser whs
shall be entitled to q certificate therefor
IL. And be 1t enacted, That all election.
shall be conducted by ballot such of the
stockholders as shall attend for that purpose,
either in person or by proxy, shall be entitled
to one vote for each share of stock held by
him; one-fourth of the whole number OF
| shares of stock shall constitute quorum for
the transaction of business
12. And be it enacted, That the president
| and directors, with the secretary and treas
iurer of such company, within thirty days after
the payment of the last installments of the
capital stock. so fixed and limited by the
company, shall make a certificate stating the
amount of capital SO fixed and paid in in cash;
which certificate shall be signed and sworn
or affirmed to by the president, secretary,
treasurer, and q majority Of the directors and
shall within thirty days cause the same to be
recorded in a book. to be kept for that pur-
pose in the office of the clerk Of the county,
where. the business Of the company is con
Quoted.
10. And be it eiacted, That no note or OBJ
legation, given by any stockholder, whether