The Sunday tatler and Jersey City express. (Jersey City, N.J.) 1883-1886, 1886-07-25
CHAPTER LxxXII.
Approved March %, 1856.

An Act to facilitate the foreclosure of mortgages
made by consolidated railroad companies of
railroads lying partly within and partly without
this state.
]. Be it enacted by the Senate and General AS
sembly of the State Of New jersey, That when
railroad corporation, created by the CONSOLE
9atsjn o. railroad corporation or corporations of
this state WIsF yaiiroad CORPORATION or CORPORA
tions Of ANOTHER sate Or states, whose line Of rail
road lies r&ly in this State and partly II another
state stsAeS IisS heretofore executed mortgage
upon its entire line Of road, and sale of the entire
line of road under such mortgage has heretofore
been adjudgsa and decreed by a court of compe-
tent jurisdiction ofog in the state or states in which
the greater part OF such line of railroad may be
situated, and such sale has been heretofore made
in said state or states then, upon the confirmation
and approval of such judgment or decree and of
the sale made hereunder by the court of chan
Gerry of this state the circuit court of the United
States in and for the district of New Jersey such
sale shall operate to pass title to the purchaser of
that part of the line of railroad lying in this state
together with its appurtenances and franchises,
with the same force and effect as ii the Judgment
or decree under which such sale is had had been
made by court of competent jurisdiction of or in
this state; and such Judgment Or decree and sale
may be SO confirmed and approved in any action
now pending or which may be brought within
thirty days after the passage OF this act in the said
court of chaneery or the said circuit court ofsthe
United States for the foreclosure of such mortgage
or in aid of any action for that purpose heretofore
brought IN such other state, upon due provision
being made by Judgment or decree Of said court
for and in respect of any liens upon that part of
the line of road or other property Sold situate in
this state according to their respective prioriHes
provided that application for such confirms
approval and order shall be made -,t1,yn S;Ot,
days after the passage of this cr nAss'A4A 0sA'!
2. And be 1t enacted mat CORPORATION created
s.uder the laws Of the state in which the greater
part OF the s'ne Of such railroad may be situated,
for the. purpose of taking title to and operating
the entire line OF railroad, with its franchises and
appurtenances sold upon the foreclosure of such
mortgage, shall, upon the judgment decree and
pd nod
provided, hold, possess and operate that part of
the line of such railroad lying in this stale and
have all the rights and franchises Heretofore pos
seSSed by the corporation executing the mortgage
under which such Judgment or decree and the
sale were made, and such as now are or may here
after be conferred upon railroad corporations
organized under the laws of this state and shall
be subject to the duties and liabilities to which
such corporation was by the law of this state SUBJ
ject and to such further or other duties and LA
bilites as are now or may hereafter be imposed
by law upon railroad corporations of this state
s. And be it enacted, That an exemplifed COPY of
the charter certificate Of incorporation or articles
of association under and by virtue of which
such new corporation is created, and of the iudg-
ment or decree under which such entire line of
railroad was sold, and certified copy of such
Judgment or decree Of confirmation and approval
of the court of in this state shall be filed in the
Office of the secretary of state for this state.
And be it enacted, That this act shall not
apply TO any corporation unless such corporation
shall first and as condition precedent to the ex-
ercise of any power granted by this act or any
other act of the legislature of this state file in the
office of the secretary of state an agreement to be
approved by the governor and the attorney gen
eral, waving all rights of exemption from tax
alton and from privileges and advantages arising
from any law or contract tif there may be) estab-
fishing any special mode of taxation of any such
corporation, and the further agreement to be
bound by any general law of this state now in
existence or than may hereafter be passed taxing
such corporations as are now authorized to be
taxed by the legislature of this state under any
general law; and further agreeing that the exer-
else of any power granted by this act shall not in
any way affect the rights of the state f any there
exist to take the property of such corporation
under any existing law of the state, and agreeing
further that all laws affecting such corporations
shall be subject TO alteration and repeal by the
Legislature.
.. And be it enacted, That this act shall be
deemed pubic act and take effect immediately
Approved March %, 1886.