Page:United States Statutes at Large Volume 14.djvu/580

 550 THIRTY—NINTH CONGRESS. Sess. II. Ch. 189, 190. 1867. shall be served on the President of the United States, and filed in the of. ' fice of the Secretary of the Interior. This act to be Sec. 10. And be itjin ther enacted, That unless the said Stockton and wg ;“l‘*€·5{,& °· Copperopolis Railroad Company shall obtain bona fide subscription to the w,gds°;g',Qg;c stock of said company to the amount of two hundred thousand dollars, of stccl;. with five per centum paid within two years after the passage and approx;. al of this act, it shall be null and void. Actmay be Sec. 11. And be it further enacted, That Congress may, at any time, ‘°?°“l°d· &°‘ having due regard for the rights of said railroad company, add to, alter, amend, or repeal this act. _T<>W¤ Md Sec. 12. And be it further enacted, That lots in towns and villages Ar1·R0v1·:D, March 2, 1867. March 2, 1867. CHAP. CXC. —An Act to incorporate the Joint Stock Company of the Young Manic "*"‘_‘ Christian Association of Washington. _ Be it enacted by the Senate and House of Representatives of the United Cjsglgnitgiiktha States of America in Congress assembled, That S. P. Chase, O. O. young M,,,,-,, Howard, John R. Elvans, S. L. Brown, H. D. Cooke, James Harlan, Christian A55D- George P. Fisher, O. H. Browning, James A. Ekin, A. R. Shepherd, B. associates and successors, are hereby erected into a body corporate in deed and in law, by the name, style, and title of the Joint Stock Company ObJ®¤¤¤· of the Young Men’s Christian Association, for the purpose of erecting a, suitable building for the meetings of the association, with 2. hall, free reading rooms, and library for the employees of the public departments and the citizens of the District of Columbia. C¤·pi*¤lSl<>¢k· S20. 2. And be it further enacted, That the said corporation, by the same name and title, shall have a capital stock of two hundred thousand dollars ($3 200,000) in shares of twenty-five dollars (5 25) each, and be P°Y"°'“ of °°"‘ able to sue and be sued, plead and be impleaded, in all courts of law, and P°¤m°°' elsewhere, and shall be capable and able, in law and equity, to take, purchase, hold, and receive to them and their successors, for the use of said company, lands, tenements, choses in action, goods and chattels of whatever kind, nature O1' quality, real, personal, or mixed, which now are or hereafter may become the property of said corporation or be held for their use, by gift, grant, bargain, sale, conveyance, devise, bequest, or _ _ otherwise from any person whomsoever capable of making the same: °fI;;€;£y’“l“° Provzded, [That] the value of the real and personal estate held by this ` corporation shall never exceed the said sum of two hundred thousand Seal. dollars. The said corporation may have 2. common seal, and at pleasure alter, change, or renew the same, and in general do all things which may be necessary for the well-being and due management of said corporation. Directors. SEc. 3. Andbe it further enacted, That the corporation hereby erected shall have power to elect a board of directors and such officers for its government, the management of its property, and the superintendence of By-laws. its aH`airs, and make such by-laws as they may deem proper, not inconsistent with the constitution and laws of the United States, and to change or modify them at pleasure. Ngéfstgfum Sec. 4. And be it further enacted, That the board of directors shall re- &c_ and pay’i¤_ ceive all rents and revenues arising from the building, and shall from the terest on stock. rents and revenues received by them declare and pay an annual interest oi' not exceeding six per cent upon the capital stock of said corporation. Surplus of Sec. 5. And be it furzlzer enacted, That when the rents and revenues be applied. upon the capital stock, the board of directors shall pay over to the Young
 * L;§°Q}°°° °X` shall be exempt from the provisions of this act.
 * ’__§'g£°1n°°rP°` H. Stinemetz, William Ballantync, A. C. Richards, F. A. Lutz, L. Clephane, and Samuel Norment,_all of the District of Columbia, and their
 * ';:és€°‘;{°”;:°°;:° of the building shall exceed the amount necessary to pay the interest