Page:United States Statutes at Large Volume 2.djvu/522



a bridge over Fourmile creek, in the county of Alexandria; and of making such other incidental works, and defraying such other incidental expenses, as may be deemed necessary or expedient by the company herein after named; the time, place, and manner of receiving and entering such subscriptions to be ascertained by the said board of commissioners, and duly advertised in such gazettes as they may deem expedient: Provided, that the time to be fixed upon by the said board of commissioners for opening books for receiving the said subscriptions, shall be on or before the first Monday in April next; and that no subscription shall be received, unless the sum of ten dollars be first paid into the hands of the person authorized to receive the same, on each share subscribed for.

. And be it further enacted, That whenever two hundred of the said shares shall be subscribed for, all persons who may then be, or thereafter may become, the actual holders or proprietors of shares in the said capital stock, either as subscribers for the same, or as the legal representatives, successors, or assignees of such subscribers, shall be, and they are hereby made and created, a body politic and corporate, by the name and style of “The Washington and Alexandria Turnpike Company,” and by that name may sue and be sued, implead and be impleaded, and do and suffer all acts, matters and things which a body politic and corporate may lawfully do and suffer; and may have a common seal, and the same may break and alter at pleasure, and may make all by-laws, rules, regulations, and ordinances, for the good government and well being of the said company, and for carrying into effect the objects of their institution, so that such by-laws, rules, regulations, or ordinances be not repugnant to the laws of the United States in force within the said county of Alexandria.

. And be it further enacted, That when two hundred of the said shares shall be subscribed for, as aforesaid, or as soon after as may be, the said board of commissioners shall call a meeting of the company, at the town of Alexandria, by public advertisement in one or more gazettes published in Washington and Alexandria, appointing a fit and convenient time and place of meeting for the purpose of electing five directors, a clerk and a treasurer, and such officers, agents, and servants, as the said company may think fit to appoint, and for transacting any other business, in pursuance of this act, and appertaining to the nature and objects of the institution of the said company; and the said board of commissioners shall, if necessary, adjourn the said meeting from time to time, until a quorum shall be formed; and a majority of the said company, or the proprietors of two thirds of the number of shares actually subscribed for, their legal representatives, successors, or proxies, shall be a quorum to do business; and the said board of commissioners, before the opening the said subscription books, shall ascertain and publish in their said advertisement, a fit and convenient mode of authenticating all powers of attorney, authorizing subscriptions to be made in the name of any person or persons; and before calling a meeting of the said company shall ascertain and publish in their advertisement, a fit and convenient mode of authenticating all instruments of writing, authorizing any person or persons to act and vote at such meeting, as the proxy or proxies of any member of the said company; all which powers of attorney and instruments of writing shall be filed with the clerk of the said company, and by him be safely kept among the records and documents appertaining to his office; and as soon as a quorum of the said company and a board of directors shall be formed as aforesaid, all the powers, authority, and duties whatsoever, by this act vested in the said board of commissioners, shall cease and determine, and thenceforward become vested in the directors, for the time being, of the said company, under such limitations and restrictions as the said