Page:United States Statutes at Large Volume 16.djvu/160

 126 FOR/l`Y——FIRST CONGRESS. Sess. II. Ch. 108. 1870. Presidvnwnd president of the board of directors, and also appoint a treasurer of said may appoint a president pro tempore; and a. majority of said directors Quorum. shall constitute a quorum {br the transaction of business. vm.,,,,c;G,_ Sec. 4. And be it jlartlzcr enacted, That said directors may fill any vacancy which may happen in their own body during the time for which they are elected, and in case of the death, resignation, or disqualification of the president or treasurer, to fill the vacancy, to serve for the residue A,,,,mn,,m;- of the term; and the stockholders, on the first Blonday of January in me- each and every year thereafter, shall elect by ballot, at the office of the said company, a. new board of thirteen dircc·tors from among the stock. holders, from whom a. president and treasurer shall be appointed as above mentioned, to hold their offices for one year from the time of their ch-e-tion, and until their successors are elected and qualified. Each Who may stockholder shall be entitled to one vote for every share of stock held v"“’· &°‘ by him or her at the time, which may be given by the stockholder, or by proxies_ proxy, at any general or special election, of Wlllcll gGl'1Gl‘al or Special election notice shall be given by advertisements in one or more of the daily newspapers in said city ten days previous thereto. Plans for Sm;. 5. Azul be 1`t_fl¢rt}te*r enacted, That the plans submitted by the l"‘Q‘l*“F‘·’· incorporators, as set thrth in the schedule annexed to this act, and . chodulc nn-. . . . . ., ,,,,,,,,,1 ,,,,u|u pm winch schedule is made part oi this act, and as set forth in the drawings chic:. relerred to in said schedule, shall be adopted for such new buildings P "“‘· l’· 128* and market square. There shall be one or more entrances to said market grounds between Seventh and Ninth streets, on Pennsylvania Avenue or Louisiana Avenue, of suitable width and height, {br the ttcttoumiouiatiun of ]1(‘(ll‘<ll'lilllS» Bond of trans- Site. 6. And be it _/itrt/wr enacted, That the treasurer of said company “’°‘· shall, bctbre he acts as such, give a bond to the company, in such penalty and with such security as the president and directors shall require, conditional lor the laithful discliargre of the duties and trusts committed Salaries. to him. All salaries shall be fixed by the president and°directors. Shares robe Sec. 7. And be it further enacted, That the shares in said company shall he deemed personal and not real estate, and shall be transferable mk,,',, ;,,‘0Kccu_ in such manner as the by—luws of the company shall prescribe; and the tion- shares held by any individual shall be liable to be attached or taken in execution to satisfy the debts clue from any such stockholder in like manner as other personal property may be. Pnymept of Sec. 8. And be {t__fur/her enacted, That the said president and direc[t]ors
 * ““““'"‘ company. In the absence of the president, a majority of said directors
 * ‘l};’:l'p°‘°"” m of said company shall have power to demand and receive of the stockholders tho remaining nine tenths of said stock from time to time as

they shall deem necessary: Provided, That such calls shall not exceed the rate of fifteen per centum thereof per month ; and if any stockholder shall neglect or refuse to pay the amount due and demanded, within Ionrcituret thirty days after said demand, the said shares may be thrleited, or not, by said directors at their option. cmitrnctm Sec. 9. And be it further enacted, That the said president and direcb¤l'*l**‘¤‘*»&°- tors shall have pcwcr to contract with any person or persons for the necessary work on the grounds, and for the construction of buildings, Superinten- Stands, stalls, and all n€cGsSa1‘y fixtures; to appoint. a. general superind°“”·&°· wndent and other laborers, and to aflix the amount of compensation for labor, as well as for all materials furnished said company, and to do all acts which by this act and the by·laws of said company they may be authorized to do. Exlgpilzllpgs and  10. And be it f2n·ther enacted, That the said company is hereby gmmm tm)'; required to purchase and pay for all buildings‘and fixtures which may painter, &O_ be upon the above-mentioned ground belonging to individuals, within it reasonable time after the passage of this act, the price of which shall be agreed upon by the president and directors of said company and the