Page:United States Statutes at Large Volume 14.djvu/83

 THIRTY—NINTH CONGRESS. Sess. I. Ch. 96, 97. 1866. 53 papers of the city of Washington. And if any stockholders, subscribers, their assignees or transferees, shall refuse or neglect to pay such propor- Rcfusnlcruggtions or instalments, at the time and place appointed, such stockholders, gigfmtgutgay m` subscriber, transferee, or assignee shall, at the option of of the president and directors, forfeit to the use of the company all his, her, or their right, title, and interest in and to every share on which such instalment has not been duly paid; and fresh subscriptions may be opened for the same, in such man— ner as the by-laws may prescribe, or the president and directors may at their option commence suit for the same and proceed against the holder of said stock for the amonnt of the instalment or proportion_so unpaid: Provided, That no stockholder or subscriber shall be permitted to vote _ Stockholders at any election for directors, or at any general or special meeting of the ;';t:"°“"“ lm t° company, on whose shares any instalments or arrearages may be due more ‘ ° than fifteen days previous thereto. Sec. 5. And be it further enacted, That the president and directors for the time being shall have power to ordain, establish, and put in execution such rules, regulations, ordinances, and by-laws as they may deem By-laws. essential for the well government of the institution, not contrary to the laws and Constitution of the United States or of this act, and generally to do and perform a1l_acts, matters, and things necessary to carry out the purposes of this corporation. Sec. 6. And be it further enacted, That the president and directors Corporation are hereby empowered and fully authorized, on behalf of the company, to im? bg 0* W purchase and hold in fee simple, or lease for a term of years, real estate °”° r rr ' in the city of Washington sufficient to enable them to erect thereon a building suitable for operatic, dramatic, and other entertainments, in such manner, and upon such terms, as may be by them deemed for the best. interests of the company. Sec. 7. And be it jnrther enacted, That the said company are hereby authorized to borrow money to an amount not exceeding their capital may b<>rr9w stock, upon bonds to be issued by said company, secured upon their prop- {f;';':,;? "‘“d ‘““° erty and franchises: Provided That no bond shall be issued for a less sum than one hundred dollars, and bearing a greater rate of interest than seven per centum per annum. Sec. 8. And be it further enacted, That the president and directors shall, from time to time, divide so much of the profits of said company as Divid¤¤d¤· to them may appear advisable, first deducting all expenses, and pay the same to the respective stockholders, or their agents duly empowered to receive the same. Sec. 9. And be it further enacted, That the stock of said company Transfers of shall he transferred on the books of the company in such manner only as ¤*°<>k· the by—laws of the company may direct. Sec. 10. And be it further enacted, That nothing in this act shall be Aotmaybea]- so construed as making it perpetual, but Congress may at any time alter, t°"°d· &°· amend, or repeal the same. ‘ Approved, May 24, 1866. CHAP. XCVII. —An Act to amend the Charter of the Washington Gas-light May 24, 1866. C""'?""?' 1846, on. sc. Be it enacted by the Senate and House of Representatives of the United V°1‘ “" P' 72* States of America, in Congress assembled, That the charter of the Wash- Charter of ington Gas·light Company be, and the same is hereby, amended in the g;s¥"{§°°“ _, , , -ig t Comthird section by substituting the word “February " for “January." pany amended. Sec. 2. And be it further enacted, That the capital stock of said com- Capital stock pany be, and the same is hereby, increased five hundred thousand dol- i“°'°“*°d· lars, subject to the same liability as is provided in the eleventh section of the original act of incorporation, approved July eighth, eighteen hundred and tbrty-eight. Approved, May 24, 1866. 5 =x-