The Penn's Grove record., 1892-07-15

An Act relating 10 the consolidation OF corpora
tons, organized as gas light companies, electric
light companies, and electric light, heat and
power companies, in cities Of the second class In
this state which heretofore have been incorpor-
ated under general or special laws of this state.
J.. BE il enacted by the Senate and General As
sembly OF the state Of New Jersey. That IL shall
and may be lawful for any corporation or corpora
lions of this state, Incorporated under general or
special laws, whose object is to make and sell gas,
for the purpose Of lighting the streets, buildings and
other places In cities Of The second class in this state
where such companies are now established, and any
corporation or corporations Of this state in said
cities whose objects are the manufacturing, generat-
ing, storing. dealing in, furnishing Of electricity for
light, heat and power, and also carrying on Of any
and all business in connection Herewith, and con-
corning the sale and supply Of the said light, heat
and power to persons desiring to purchase the same,
and Of selling and dealing in appliances necessarily
used in connection with the same and appertaining
thereto, to consolidate and merge such companies
in said cities and their corporate rights, franchises,
powers and privileges, into a single corporation In
the manner following. so that by virtue Of this act
such corporations In said cities will be consolidated
and merged into one company, and so that all the
property, rights, franchises and privileges by law
vested 10 or enjoyed by such corporations so merged
shall he transferred 10 and vested in the new Ger
poration into which said consolidation and merger
shall be made.
2. And be it enacted, That such consolidation
and mergV of said corporations shall be made in
the same Manner as provided for the consolidation
and merger Of certain corporations of this state
by an act of the legislature Of this state entitled
IAN act relating to the consolidation of corpora
st~a. Enr.,,nl .,rdar the not aptftlad "A n mt mn
cernIng corporations approved April seventh, one
thousand eight hundred and seventy five, and the
acts amending and experimenting the same, for
the purpose of the Improvement and sale OF lands.
the construction. maintenance and operation Of
hotels and carrying on the business Of an innkeeper,
and the transportation of goods, merchandise or
passengers upon land or WATER" which said act was
approved April seventeenth, one thousand eight
hundred and lightweight.
8. And be 1t enacted, That such consolidated
company and all its real estate, franchises and
other property shall he subject TO taxation and shall
be assessed In the manner provided by law from
time to time for the taxation and the assessment Of
the real estate, franchises and other property OF
such corporations, and shall pay such tax as is or
may be imposed upon its property and franchises;
and shall pay the annual tax for the use of the state
by way of a license for its corporate franchises, the
same as If such consolidation had not been made,
the intent being that the revenue to be paid to the
state shall not be diminished in any way. but shall
be at least as great as If paid by said companies
separately before consolidation.
4. And be it enacted. That all acts or parts OF
acts, general or special, inconsistent with the pro-
visions of this act, be and the same are hereby re-
pealed. and that this act shall take effect i'm
mediaiely.
Approved April Z, 1892.