Page:Charters of the Weehawken ferry company.djvu/6

 AN ACT TO INCORPORATE THE WEEHAWKEN FERRY COMPANY.

1. by the Senate and General Assembly of the State of New Jersey, That William Cooper, Rodman M. Price, Dadid Allerton, Francis Price, Elijah Ward, Dudley S. Gregory, Barney Bertram, David Beldam, Lorenzo W. Elder, their present and future associates, their successors and assigns, be, and they are hereby created a body corporate and politic, by the name of "The Weehawken Ferry Company," for the purpose of establishing a ferry between some suitable point or points in the city of New York and a point north of Deas's Point, in the county of Hudson, with power to build boats, wharves, piers, bulkheads, and all other improvements necessary to carry out the objects of this corporation, with the privilege of asking any reasonable rates of toll, as by the by-laws of said company may be established, such tolls not to exceed the rates now taken at the Hoboken ferry; and also, to lease, purchase, and hold such real and personal estate as may be necessary for the purposes of said corporation, and sell, lease, allot, and parcel the same, or any part thereof, in such manner as the said corporation may determine, together with all the powers and privileges, and subject to such restrictions, limitations, and conditions, as are specified in the act entitled, "An act concerning corporations," approved April fourteenth, eighteenth hundred and forty-six.

2. And be it enacted, That the capital stock of this company shall be five hundred thousand dollars, divided into shares of fifty dollars each; and the said shares shall be deemed and considered personal estate; and it shall be lawful for said company to grant certificates of shares, in full or part payment, for the real or personal estate that may be purchased or leased, and, by the by-laws, to compel payments of instalments, not exceeding five dollars on each share at any one time, not deemed or declared full stock; and on failure to pay any instalment, to forfeit the stock, and all previous payments made thereon, giving, at least, sixty days' notice of such call and demand in a newspaper published in the county of Hudson, and one in the city of New York.

3. And it be enacted, That it may be lawful for said corporation to establish a ferry from a point north of Deas's Point, in the county of Hudson, to the city of New York; to construct piers, wharves, bulkheads, or such other improvements as may be made thereon, by said corporation, and keep up and maintain the same, upon the land now covered by the water in front of the lands of said company; provided, the same shall not obstruct the navigation of the Hudson river, and to erect ferry houses and other buildings.

4. And be it enacted, That William Cooper, Rodman M. Price David Allerton, Francis Price, Elijah Ward, Dudley S. Gregory, Barney Bertram, David Beldam, and Lorenzo W. Elder, shall be the first director, to organize and manage the affairs of said company, and