Page:United States Statutes at Large Volume 14.djvu/82

 52 TI-IIRTY-NINTH CONGRESS. Sess. I. Ch. 89, 96. 1866. shall have power to issue and enforce all writs land process, rnuke all orders, and do all acts necessary for the due administration of Justice and the exercise of their jurisdiction. Approved, May 22, 1866. Mn! 24, 1866. CHAP. XCVI. -An Act to incorporate the Academy of Music of Washington City. Tbgacademy Be it enacted by the Smale and House of Represmtutives of the United Q$;‘;;f;° 3; States of America in Obngress assembled, That Max Stmkosch, “7llll3m p_q_ guioqiom- G. Pope, Max Maretzek, W. G. Metzerott, Joseph J. May, B. F. Isher- Adams, or any five of them, be, and they are hereby, authorized and em- Subscription powered to receive subscriptions to the capital stock of a company to be open a book for that purpose in the city of Washington, 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 ten thousand shares of fifty dollars sa share each shall have been subscribed; and any person of lawful age, and a citizen of the 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 Seal and pow- said corporationlto have a common seal, sue and be sued, plead and be <’¤'¤,&¤·<>¤`<>°¤P¤- impleaded, and ave and exercise all the rights, privileges, and immuni- "‘u°"' ties, for the purpose of the corporation hereby created. Directors. Sec. 2. And be it furllzer enacted, That the affairs of the company shall be managed by nine directors, to be elected annually by ballot on Mectinigs of the Grst Monday of October, by the stockholders or by their legally em- 2g°kh°1 °"· powered agents; and each share of stock shall entitle the holders thereof ' to one vote; the election to be held at the office of the company at s general meeting of the stockholders convened for that purpose by ten days' public notice in two or more of the daily papers of the city of Washing- First election. ton: Provided, That the first election for directors shall be held pursuant to ten days' notice given in one or more papers of the city of Washiiigton, 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 stockholders shall then and there elect nine directors to serve until the next ensuing election, as provided for in this act. And at the first ensuing meeting of the directors after every election they shall pmgdem appoint one of their number as president, who, together with themselves, shall hold oillce until the next ensuing election as herein provided for, Quorum. and five members of said board shall compose a quorum. And in case If election is that an election for directors should not be made when pursuant to this {:°£:3_°h`°g°' act it should have been made, the company for that cause shall not be dissolved, and it shall be lawful within forty days thereafter to hold and make an election for directors in such manner as the by·laws of the company 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 death or resignation, or removal of any director from office, his v80n3i9S_ place for the remainder of his term may be filled by the president and direietors for the time being, in such manner as the by-laws may prescm e. _ Power otaprw Sec. 3. And be it further enacted, That the president and directors {$2** '¤d “'°°· shall have power to appoint a. secretary and such other officers, agents, ' and clerks as may to them appear proper, to fix their compensation and psy the same. 03PM! ¤¥¤¤k- Sec. 4. And be it further enacted, That the capital stock shall be called in and paid in such instalments and proportions, and at such times and plaees, as the president and directors for the time being may require and designate, who shall give fifteen days’ notice thereof in two or more daily
 * ¤d· wood, John G. Clark, Henry C. Sherman, Carl Bergman, and F. C.
 * °°k°· denominated “The Academy of Music of Washington, D. C.," who shall