Page:United States Statutes at Large Volume 16.djvu/136

 102 F ORTY—FIRST CONGRESS. SEss.H. Ch. 80. 1870. B¤¤°Y°lF¤*· members of said corporation at a meeting of the stockholders or corpora- &°'S°°1°ms' tors or members of said corporation specially called for that purpose, the proceedings of which meeting shall be duly entered in the records of said corporation, said lot or building may be sold and the proceeds thereof may be vested in another lot, or in the erection of another building, or both. IE corporation When any real estate shall have been devised or given to any such Kg;°f,;‘;g;‘;;f&Q{° corporation for any specified benevolent purpose aforesaid, and where, by powers, property a vote of three fourths of the stock held by the stockholders, or three p°s°d °f' any corporation formed under this act, then by a vote of three fourths of the members thereof, at a meeting called for the purpose, of which such stockholders or ccrporators or members as aforesaid shall have at least ten clays' notice, the said corporation shall determine to surrender their corporate powers and cease to act under the same, said real and personal estate, so acquired as aforesaid, shall be sold at public auction, proper Pf¤<=¤¤d¤· notice of the time and place of said sale having been given, and the proceeds of said sale equitably distributed among the stockholders or corporators aforesaid, or disposed of for the promotion and advancement of the 6;*;;; °§g°%0t objects for which such corporation was originally organized: Provided, ,0 bclfcm {Or That no corporation created by this section shall hold real estate more more than five than five years, except so much as shall be necessary for the purposes Y°’“s‘ named in its certificate. MANUFACTURING, AGRICULTURAL, MINING, AND MECHANICAL GORPO- Rxrious. _ Manufnctur- Seo. 4. And be it further enacted, That at any time hereafter any may bé formed_ of carrying on any kind of manufacturing, agricultural, mining, mechanical business, insurance, mercantile, transportation, or marketing in the b0(`§*'Eg§¤;<;f° District of Columbia, may make, sign, and acknowledge, before some kn°,§°dggd’,,nd officer competent to take the acknowledgment of deeds, and file in the recorded; office of the register of deeds, a certificate in writing, in which shall be See said company shall be formed; the amount of the capital stock of said 18;Q,<=l¤·I3L§2- company; the term of its existence, not to e_xceed twenty years; the °'t’p' 15s' number of shares of which the said stock shall consist; the number of trustees and their names, who shall manage the concerns of said company for the first year; and the name of the place in said District in which the operations of said company are to be carried on. Yl¤¤¥é1<=%f¤gl— When the certificate shall have been filed as aforesaid, the persons who ggrgggs s§glfing° shall have signed and acknowledged the same, and their successors, shall it, &¤. to he a be 21 body politic and corporate in fact and in name, by the name stated °°"P°"“*’°“· in such certificate, and by that name have succession, and be capable P°“’°”· of suing and being sued in any court of law or equity in this District of $¤¤l· Columbia; and they and their successors may have a common seal, and . make and alter the same at pleasure ; and they shall by their corporate Pro crt. - . . . P 7 name be capable in law of purchasing, holding, and conveying any real No mortgage or personal estate whatever which may be necessary to enable the said
 * °“’*° b° **lS‘ fourths of the corporators, if no shares of stock have been created, of
 * %€0‘§’s·§§;[’°' three or more persons who may desire to form a company for the purpose
 * ° °*“l° `”h°*· stated the corporate name of the said company and the objects for which
 * Bl;°*;;Zeb•: %¤‘°· company to carry on their operations named in such certificate, but shall

v°t°’°f mg) Y not mortgage the same, or give any lien thereon, except in pursuance of stockholders. a vote of the stockholders of said company. The stock, property, and concerns of such company shall be managed Tfusmst by not less than three nor more than nine trustees, who shall, respecmidence; tively, be stockholders, and a majority of whom shall be citizens of the to be mma I?1strict of Columbia, who shall, except for the first year, be annually mummy- e ected by the stockholders, at such time and place as shall be determined by the by-laws of the company ; and public notice of the time and place