Page:United States Statutes at Large Volume 14.djvu/411

 THIRTY—NINTH CONGRESS. Sess. IL Ch. 16. 1867. 381 the business of the railrpud, and the convenience of the public, may require. And the said company is hereby authorized to lay such rails as may bc necessary for the purpose of connecting the said stables and depots with main tracks. And the said company is hereby authorized to purchase or lease such lands or buildings as may be necessary for passenger-rooms, tickeb·oHlccs, stables, and depots above mentioned. Sec. 10. And be it further enacted, That all articles of value that may Articlas of be inadvertently left in the cars, or other vehicles of said company, shall ”l“° 1**** *h° be taken no their principal depot and entered in a book of record of un- °"°‘ claimed goods, which book shall be open to the inspection of the public at all reasonable hours of business. Sec. 11. And be it further enacted, That said corporation shall, on dc- Ifmight rm- nlm mzmd of the President of the United States, Secretary of War, or Secre- :§°SQ§t;:°t;]'{)‘;" tary of the Navy, cause to be transported over said railway any freight- can-md over the mrs, laden with freight for the use of the United States; the olhcers ¤iiW¤Y· causing such service to be done shall pay a reasonable compensation therefor. Sec. 12. And be it further enacted, That within thirty days after the Subs,,,·;pti0,· passage of this act the corporatom named in the first: section, or a major- w lL1G cnpiwl ity of them, or if any refuse or neglect to act, then a majority of the rc- ‘°°" ‘ mainder, shall cause the books of subscription to the capital stock of said company to be opened and kept open in some convenient and accessible place in the city of Washington, from nine o’clock in the forenoon until three o’clock in the afternoon, for a period to be fixed by said corporators, not less than two days, and said ccrporatcrs shall give public notice, by advertisement in the daily papers published in the city of Washington, of the time when and the place where said books shall be opened; and subscribers upon said books to the capital stock of the company shall be held to be stockholders: Provided, That every subscriber shall pay at the time Revisoof subscribing, twenty-fivc per centum of the amount by him subscribed to the treasurer appointed by the corpomtors, or his subscription shall bc null and void. If a larger amount than the capital stock of said company shall have been subscribed, the books shall be closed, and the said corpomtors named in the first section shall forthwitl1 proceed to apportion said capital stock among the subscribers pro rata, and make pub[1]ic proclamation of the number of shares allotted to each, which shall be done and completed on the same day that the books are closed. Provided further, That nothing shall be received in payment of the twenty-five per ccntum', at the time of subscribing, except money. And when the books of subscription to the capital stock of said company shall be closed, the corporators named in the first section, or a majority of them, and in case any of them refuse or neglect to act, than a majority of the remainder, shall, within twenty days thereafter, call a meeting for the choice of direc- hM°°*i*1$ d(°*' mrs, of which public notice shall be given for fivc days in two public :0r;l°° ° H"` newspapers published daily in the city of Washington, or by written parsonal notice to each stockholder by the clerk of the corporation; and in all meetings of the stockholders, each share shall entitle the holder to one Vqtcs and vote, to be given in person or by proxy. Pr°’“°“‘ Sec. 13. And be it further enacted, That the government and direction Directors, of the aifairs of the company shall be vested in a board of directors, sev- {‘;$b§t}` sgi'; of cn in number, who shall be stockholders, and who shall hold their officc i for one year, and till others are duly elected and qualified to take their places as directors; and the said directors (a majority of whom, the President being one, shall be a quorum,) shall elect one of their number to be President of the board, who shall also be President of the company, and they shall also choose a. Treasurer, who shall give bonds with surety Treasurer; to said company, in such sum as the said directors may require, for the l*°“d°· faithful discharge of his trust. In case of a vacancy in the board of di· V¤<>¤¤¢i¢¤· rectors, by the death, resignation, or otherwise, of any director, the vacancy occasioned thereby shall be filled by the remaining directors,