Page:United States Statutes at Large Volume 26.djvu/845

 792 FIFTY-FIRST CONGRESS. Sess. II. Ch. 382. 1891. of subscription to the capital stock of said comlpany to be opened, and kept open, in some convenient and accessib e p ace in the District of Columbia from nine o’clock in the forenoon until five o’clock in the afternoon for a period to be fixed b said corporators, not less than two days (unless the whole stock shallybe sooner subscribed for), the said corporators shall give notice, by advertisement in two or more of the daily patpers published in the city of Washington, District of Columbia, 0 the time, manner, and the place where said books shall be opened, and subscribers upon said books to the capital stock of said company shall be held to be stockholders therein; P*•¤>¤<¤- Provided, however, That every subscriber shall pay at the time of P¤y¤¤¤¤¤- subscription ten per centum of the amount by him subscribed to the treasurer aplpointed by the corporators aforesaid, or his subscription shall be nu and void: And provided further, That nothing shall be received in pa ent of the ten per centum aforesaid except lawful money of the  States or certified checks of any established national bank. And when the books of subscription to the capital stock of said company shall be closed the corporators aforesaid, or a majority of them, and in case any of them re use or neglect to act, a majority of the remainder, shall, within twenty days thereafter, call FWH ,¤,•¤¤¤s of the iirst meeting of the stockholders of said comlpany to meet ten days thereafter for the choice of directors, of whic meeting notice shall be given by advertisement three times in two public newspapers published daily in the city of Washiiftgton aforesaid, and by written personal notice to be ma` ed to the dress of each stockholder by Vows- the treasurer aforesaid; and in any meeting of stockholders eac share shall entitle the holder to one vote, which maybe given either in gerson or by proxy. Bcudot ummm. Ec. 7. That the government and direction of the affairs of said company shall be vested in a board of directors, not less than five nor more than nine in number, who shall be stockholders of record and who shall hold office for one year, and until their successors are dulyl elected and qualied, and the said directors (a majority of whom omeus. sha be a quoruing shall elect one of their number to be president of said company, an shall also elect a vice-president, secretary, and treasurer, the last named of whom shall give a bond, with surety, to said company in such sum as said directors may require, for the mmgmeanues. faithful discharge of his trust. In case of vacancy in the board of directors by death, resignation. or otherwise of any director, the vacancy occasioned thereby shall be filled by the remaining directors, or in such other manner as the by-laws of said company may By-laws. etc. prescribe. The directors of said company shall have power to make, prescribe, amend, and alter such by- laws, rules, and regulations as they shall deem needful and proper touching the management of sai company, and the disposition and management of its stock, property, estate, and effects. Primivel <>¤1¤¤- Sec. 8. That the principal office of said company shall always be situated in the District of Columbia, and the books and papers relating to the business of said company shall be kept thereat, open at all times to the inspection of the stockholders. The meetings of the stockholders, and directors of said company shall be held at said A¤¤¤¤¤¤¤¤¤¤z,¤w- office, and there shall be an annual meeting of the stockholders for choice of directors to be held at such time, under such conditions, and upon such notice as the said company shall by its by-laws prescribe, and said directors shall hold such meetings as may by said by-laws be prescribed, and shall annually make a report, in writing, s,{)gq,¤,g{){;grgr;u¢g o _ their doings to the stockholders and to the Commissioners of the commissioners. District of Columbia. The book in which transfers of stock shall be recorded shall be closed for the purpose of such transfer thirty days before the annual election as respects said election, and for the purpose of paying dividends at such lawful and reasonable times