Page:United States Statutes at Large Volume 10.djvu/852

 812 THIRTY-THIRD CONGRESS. Sess. I. Ch. 203. 1854. as relates to their company by the first day of January, eighteen hundred and fifty-nine, then this act shall be void. Approved, August 3, 1854. Aug. 3, 1854, Chap. CCIII.-An Act to Incorporate the National Hotel Company of Washington City. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That George H. Calvert, Corporators. Charles B. Calvert, Roger C. Weightman, Philip Otterback, John Withers, Richard H. Stuart, and Joseph Bryan, and those who may hereafter become members of the company hereinafter mentioned, and their successors, be, and they are hereby, created and declared to be a body politic Title. and corporate, by the name and style of the National Hotel Company of Washington City; and, by the name aforesaid, to have perpetual succes- Powers. sion, with power to sue and be sued, and to make and use a common seal, and to make and repeal rules and by—laws for the good government of said company; and also to hold, use, and enjoy, in fee simple, or for any lesser estate, the lots and parcels of ground and premises, situated in the city of Washington, being lots 8, 9, 10, 11, 12, 13, and parts of lots 7, and 14, in square 491, on the plat of said city, upon which are now erected the house or buildings and appurtenances known and denominated as the National Hotel ; and also any additional lots or parts of lots, adjoining the said property, which may be hereafter acquired by said company, and also the improvements, fixtures, conveniences, and advantages erected on said lots or parcels of ground appurtenant. thereto. Capitol. Sec. 2. And be it further enacted, That the capital stock of said company shall be five hundred thousand dollars, to be divided into five thousand shares of one hundred dollars each, and shall be distributed among the parties interested in the said lots of ground and premises, in such manner as shall be agreed upon between them; and every person, copartnership, or corporation, who is or shall be an proprietor of one or more shares, shall, by virtue thereof be a member of said corporation, and Elections. shall be entitled, at all meetings of the stockholders for the election of officers, or for any other purpose, to one vote, in person or by proxy, for every share of the stock so held. 0fficers. Sec. 3. And be it further enacted, That the affairs of the said company shall be conducted by a president and six directors, to be elected by the stockholders present, or a majority in amount thereof, on the first Monday of November in the year eighteen hundred and fifty-four, and on the first Monday of November in each succeeding year, or within thirty days thereafter, and shall continue in office for one year and until successors are chosen ; and that the election in November next shall be held by the persons named in the first section of this act, or a majority of them, and every subsequent election shall be held by the president and directors of said company. Powers and Sec. 4. And be it further enacted, That the said president and direct- duties of direc ors shall have power to fill all vacancies which shall occur in their own tors body during their continuance in office, and to prescribe the evidence of ownership and mode of transfer of shares of stock in said company; and they shall keep full records of their proceedings, which shall be open to the inspection of the stockholders at all times, and shall report at least annually, a statement of their affairs to the stockholders, and shall declare dividends of the profits on any part thereof, at their discretion, and generally may exercise all the power and privileges of the corporation necessary or proper to promote the objects thereof. Shares to be Sec. 5. And be it further enacted, That the shares of the capital stock personal estate. of said company shall be deemed personal estate, and that special meet- Meetings of ings of the stockholders may be called by the president and directors, or