Page:United States Statutes at Large Volume 14.djvu/247

 THIRTY-NINTH CONGRESS. Sess. I. Ch. 218. 1866. 217 CHAP. CCXVIH. — An Act to incorporale the Zlletropolftcm Z}[im`ng and Bfanufacturirzg July 23, 1866. Company. Be it enacted by the Senate and House of Representatives of the Z/Vziied Smzes of America in Congress assembled, That John Ford, George D. \IN€*"°P°g*”“ Wii!iam<, Thomas WV. Hyde, Oliver Edwards, Charles H. Herd, Samuel gljsxségsuring A. Fulton, Charles Otis, Charles A. Eclesmon, George WV. Holmes, Joseph Company incor- E. Hollis, John F. B1·021dlxend, and Lewis P. Moody, or any five of them, P°"”°d‘ be, and are hereby, authorized and empowered to receive subscriptions to Subscriptions the cz>.pim1<toa·k of za, corporation to be denominated the Metropolitan Min- t° s“’°k‘ ing and Manufiwturiiig Company of the District of Columbia, who shall open :1 book for that purpose in the city of ’Washingt0n, at the time and place to be by them designated, of which they shall give five days' notice in two or more of the daily papers of said city, and shall keep the same open until twenty thousand shares of one hundred dollars 2. share each shall Who maysu¤· have been subscribed; and any person of lawful age, and a citizen of the S°”‘b°· United States, shall be permitted to subscribe upon paying five dollars on each share at the time of subscribing. And it shall be lawful for the said 053;;;* °f°°" corporation to have Ei common seal, sue and be sued, plead and be im- p ‘ ` pleaded, and have and exercise all the rights, privileges, and immunities for the purpose of the corporation hereby created. Sec. 2. And be itjicrt/ver enacted, That the afairs of the company Directors, shall be managed by nine directors, to be elected annually by ballot on gg?$vi:é;’°w the second Monday of July, by the stockholders or by their legally chosen. empowered agents; and each share of stock shall entitle the holder Votes. thereof to one vote; the election to be held at the office of the company at a general meeting of the stockholders convened for that purpose, by  General meetten day! public notice in two or more of the daily papers of the city of $$3;; SH2;!;' Wasliixigtoxxc Provided. That the first election for directors shall be held Domqedi pursuant to five days} notice given in one or more of the daily papers of the First <=I¤<=¤i<»¤· city of Wvasliixigton, by the persons named in the first section of this act, or any five of them, who shall designate the time when and the place where said election shall be held; and the stockliolders shall then aud there elect mine directors to serve until the next ensuing election and uutil their successors shall be duly elected and qualified as provided for in this act. And at the iirst ensuing meeting of the directors after P¤¢Sid¤¤¢· every election they shall appoint one of their number as president, who shall hold office until the election and qualification of his successor. And five members of said board shall compose 2. quorum. And in case  B than an election for directors should not be made when pursuant to this not made at aca in should have been made, the company for that cause shall not be proper time, dissolved ; and it shall be lawful within forty days therem`Ler to hold and ggrggggfvggtéz make an election for directors in such manner ns the by-laws of the com- ’ ' pany may prescribe, and the president and directors for the time being shall be continued in office until such election take place. And in the event of the death, resignation, or removal of any director from office, £’¤¢$¤;i8S;g his piece for the 1·<:mainder of his term may be filled by the president E0`$°6(f1€£°°° r' and oixeetors for the time being, in such manner as the by-laws may prescribe. Sim. 3. And be it further enacted, That the president and directors Appointment shall have power to appoint a S(}C1`GC31‘y and such other officers, agents, g°g,pjg’d°£5$§;°` and clerks as may to them appear proper, to fix their compensation, and ombers, agents, Pay the Sum€ and clerks. Sicc. 4. And be it further enacted, That the capital stock shall be h C¤Lfi§?¥ $$0**, called in and paid in such instalments and proportions, and at such times Ow W 8d1U' and places, as the president and directors, for the time being, may require and designate. And if any stockholder, subscriber, their assignee or Ifstoekholders, transferee, shall rofuse or neglect to pay such proportion or instalment at i‘1;£;gl;'§:sp2QL the time and place appointed, such stockholder, subscriber, transferee, or ° assignee shall, at; the option of the president and directors, forfeit to the