Page:United States Statutes at Large Volume 25.djvu/239

 FIFTIETH CONGRESS. Sess. I. Ch. 419. 1888. 193 to its principal depot and entered in a book of record of unclaimed goods, which book shall be open to the inspection of the public and if said property remain unclaimed for one year the company shall sell the same after five days notice. I Sec. 13. That within thirty days after the passage of this act the organization. corporators named in the first section, or a majority of them or if any refuse or neglect to act, then a majoritv of the remainder,} shall cause books of subscription to the capital stock of said company to be opened and kept open, in some convenient and accessible place in the istrict of Columbia, from nine o’clock in the forenoon till five o’clock in the afternoon, for a period to be fixed by said corporators not less than five days (unless the whole stock shall be sooner sub; scribed for); and said corporators shall give public notice, by advertisement in at least two daily papers published in the city of Washington, of the time when and the place where said books shall be opened; and subscribers upon said books to the capital stock of the company shall be held to be the stockholders: Proizided, That every memos. subscriber shall pay, at the time of subscribing, ten per centum of Subscriptions. the amount by i1n subscribed, to the treasurer appointed by the corporators, or his subscription shall be null and void: Provided further, That nothing shal be received in payment of the ten per Totem money. centum, at the time of subscribing, except lawful money or certined checks from any national bank. And when the books of subscription to the capital stock of said company shall be closed, the corporators named in the first section, or a majority of them, and in case any of them refuse or neglect to act, then a majority of the remainder shall, within twenty days thereafter, call the first meeting of the stockholders of said company, to meet within ten da s thereafter, for the choice of directors, of which public notice shallrbe given for five days in two public newspapers published daily in the city of Washington, or by written personal notice to each stockholder by the clerk of the corporation; and in all meetings of the stockholders each share shall entitle the holder to one vote, to be given in person or by proxy. _ _ _ _ Sno, 14, That the government and direction of the affairs of the Directors. company shall be vested in the board of nine directors who shall be stockholders of record, and who shall hold their office for one year, and until their successors are duly elected a11d qualified; and the said directors, a majority of whom shall be a rpiorum, shall elect one of their number president of the board, who s iall also be president of the company; and they shall also choose a vice-president, a secretary, and a treasurer, the latter of whom shall give bond, with ood and sufficient surety to said company. in such_ sum as the said directors may reipuire for the fa1thtul e. ischarge of his trust. In case of a vacancy in t ie board of directors by death, resignation, or otherwise, the vacancy so occasioned shall be filled by the remaining directors. Sno, 15, That the directors shall haye the power to make and pre- Bypass. rules, and scribe such by-laws, rules, and regulations as they shall deem nee ful ""g“ “ ‘°“°`*· and proper touchin the disposition and management of the stock, pro ertv, estate, and effects of the company and the management of its husiness. not contrary to the charter or to the laws of the United States and the ordinances of the District of Columbia. Sno, 16, That there shall be an annual meeting of the stockholders A¤¤¤¤·1 meetingsfor choice of directors, to be holden at such time and place, under such conditions, and upon such notice as the said company in their by-laws may prescribe, and said directors shall annually make a re ort in writing of their doings to the stockholders. geo, 17, That said company shall have at all times the free and f Punismept for or- _ _ . euses against comuninterrupted use of its roadway; and if any person or persons shall pany. willfully, mischievously. and unnecessarilyp struct or impede the passage of the cars of said railway with a vehicle or vehicles, or othersrur L—-von XXV--13 ,