West-Jersey pioneer., 1879-03-27

for no other purpose whatsoever without complying
with the requirements of this act, shall be, and hereby
is amended that the said section shall read foows
a. And be it enacted That such articles OF association
shall not be filed and recorded in the office of the secre
tary of until af least thousand dollars OF stock
every mile of railroad proposed to be made sub
scribed thereto and paid in good faith and IN cash. to
the directors named in said articles of association nor
until the said directors shall have deposited the said
money subscribed and paid to them with the treasurer
of the state Of New Jersey who shall be the custodian OF
the same and shall hold the subject to be repaid
to directors Of the said company to the treasurer
thereof of two thousand dollars for each mile OF
said railroad upon the construction of which it shall be
proved to his satisfaction that the said company have
expended least the of two thousand dollars, nor
until there endorsed such articles OF association or
annexed thereto affidavit made by at least ve OF the
directors named in said articles that the amount OF stock
required by this section has been in good faith subscribed
and paid in cash as aforesaid, and tha 1t IS intended IN
good faith to maintain and operate the
road mentioned in such articles OF association, which
affidavit shall be recorded with the articles OF ASSOCIATION
as aforesaid provided that the articles OF association
heretofore filed in the Office of the secretary OF state
pursuant the of the act to which this act is
mendatory by any corporation which shall not at the
date of the passage of this act have fully completed at
least three miles of their proposed railroad, as located
and filed in the office of the secretary OF state shall be
absolutely null and void, and of no effect whatsoever,
and the corporate powers vested in such corporation by
the filing of such articles shall become extinct and such
corporations shall become pso acto dissolved unless
such corporations shall, within twenty days after the
passage Of this fully comply with the terms thereof
provided that such corporations, heretofore organized
under the general railroad laws of this state, as have
complied with the provisions of said section two OF said
act entitled can act to authorize the formation OF rail-
road corporations and regulate the same, approved
April second thousand eight hundred and seventy
three as the same before amendment and the total
length of whose road, shown by the filed survey in
the office of the secretary of state shall be less than
three miles, shall have until the first day of july one
thousand eight hundred and seventynine, in which to
comply with the provisions of said section two OF said
act as amended by this and two years from said first
day of July is hereby allowed such corporations for
the completion of their said roads, and the rights and
privileges existing and belonging to said corporations at
the time of the passage of the said act which this is
an amendment approved April second, thousand
eight hundred and seventy hereby restored
and confirmed the said corporations provided, nev-
ertheless that such corporations, organized under the
act to which this is amendatory shall have completed
the date Of the of this act more than three
miles of their said railroad originally located shall
continue to exist for the sole purpose of maintaining and
operating the said completed portion of their said rail
road and of exercising all the powers and franchises nee
essary the maintaining and operation thereof but ior
no other purpose whatsoever, without complying with
the requirements of this act.
g. And be it enacted, That all acts and parts of acts
with this be and they hereby repealed
and this act shall take effect Immediately.
Approved March 4, 1879.