Page:United States Statutes at Large Volume 25.djvu/609

 FIFTIETH CONGRESS. Sass I. Ch. 1196. 1888. 563 _ Sec. 12. That all articles of value that may be inadvertently left Lostarticles. in any of the cars or other vehicles of the said company shall be taken to its principal depot and entered in a book of record of unclaimed goods, whic book shall be open to the inspection of the public, and if said property remains unc aimed for one year the company may sell the same after five days’ notice. 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 majority 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 District 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 davs (unless the whole stock shall be sooner subscribed for) ; and said corporators shall give public notice by advertisement in at least two daily (pa ers published in the city of Washington, of the time when an the lace where said books shall be opened; and subscribers upon said books to the capital stock of the company shall be held to be stockholders: Provided, That every Provisos. subscriber shall pay, at the time of subscribing, ten per centum of s,,£§§‘n¥{,"§,'Q1f“°’““· °° "° the amount by him subscribed,·to the treasurer appointed by the _ corporators, or his subscription shall be null and void: Provided further, That nothing shall be received in payment of the ten er Payments to be m centum, at the time of subscribing, except lawful money or certified m°“°y °”1" checks from any national bank. And when the books of subscrip- First meeting ot tion to the capital stock of said company shall be closed, the corpo- st°°kh°m°”’ rators 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 compan, to meet within ten da s thereafter, for the choice of directors, off which public notice shall be given for five days in two newspapers published daily in the city of Washiiigton, and 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 prox ’. SEER 14. That the government and direction of the affairs of the cofljyvtrqment ¤f the company shall be vested in a board of nine directors, who shall be orgzgig, stockholders of record, and who shall hold their office for one year, and until their successors are duly elected and qualified · aiu the said directors, a majority of whom shall be a quorum, shall elect one of their number president of the board, who shall also be president of the company; and they shall also choose a vicepresident, a secretary. and a treasurer, the latter of whom shall give onds with good and sufficient surety to said company in such sum as the said directors may require, for the faithful discharge of his trust. In case of a vacancy in the board of directors by death, resignation, or otherwise the vacancy so occasioned shall be nlled by the remaining directors. Sec. 15. That the directors shall have the power to ma e such by- pmt0m to make laws. rules, and regulations as they shall deem needful and proper '>Y·*¤W¤» ¢t<¤· touching the disposition and management of the stock, property, estate. and etfects of the company and the management of its business, not contrary to this charter or to the laws of the United States and the ordinance of the District of Columbia. Sec. 16. That there shall be an annual meeting of the stockholders Annual meeting. to choose 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 report in writing of their doings to the stockholders. Sec. 17. That said company shall have at all times the free and Punishment mr ea Uuinterrupted use of its road-way; and if any person or persons shall §§f“g· °t°‘· fm willfully, mischievously, and unnecessarily obstruct or impede the