Page:United States Statutes at Large Volume 27.djvu/98

 FIFTY-SECOND CONGRESS. Sess. I. Ch. 144. 1892. 71 sold for less than the total assessments due and payable or said co1·- poration may sue and collect the same from any delinquent subscriber in any court of competent jurisdiction. Sec. 13. That within thirty days after the passage of this act the cor- Meeting to receive porators named in the iirst section, their associates, successors, or as- ”“b“"*‘“°“‘ signs, or a majority of them, or, if any refuse or neglect to act, then a majority of the remainder, shall meet at some convenient and accessible place in the District of Columbia for the organization of said com— pany and for the receiving subscriptions to the capital stock of the company: Provided, That every subscriber shall pay at the time of *°""‘”°’· subscribing ten per centum of the amount by him subscribed to the ,m'g°,gdP¤ °°¤* ****1*** 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 per centum at the time of subscribing except lawful money Moneyopligreccived or certified checks from any established national bank. And when the f" ““`”°'“’“°"‘ books of subscription to the capital stock of said company shall be closed the corporators named in the first section, their associates, successors, or assigns, 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 tF;;¤13 meeting ¤f company to meet within ten days thereafter for the choice of directors, S °° ° °"` of which public notice shall be given for live days in two daily news- Notice. papers published in the city of Washington, and by written personal notice to be mailed to the address of 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: — Provided, That it shall be unlawful for the company hereby incorpor- _C0nsolidation forated to consohdate with any other railroad company now in existence, l"‘m°“‘ or which may hereafter be chartered, and any such consolidation shall of itself operate as a forfeiture of this charter. Nor shall the charter saiumrmmusmc. or franchise herein granted be sold or transferred to any company or "°" f°’b‘dd“”‘ person until the road shall have been fully constructed. Sec. 14. That the said company shall place tirstelass cars on said Equipment to be railways, with all the modern improvements for the convenience and 6“'”`°1‘”’°" comfort of passengers, and shall run cars thereon as often as the public convenience may require; the time table or schedule of time to be ap- Time tableproved by the said Commissioners of the District of Columbia. Sec. 15. That the company may buy, lease, or construct such passen m€,gg$¤§¤·,)l;>;$,;uySf ger rooms, ticketoflices, workshops, depots, lands, and buildings as ea.° “" may be necessary, at such points on its line as may be approved by the said Commissioners. Sec. 16. That all articles of value that may be inadvertently left in Lost ¤rri¤1¤¤· 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, which book shall be open to the inspection of the public at all reasonable hours of business. Sno, 17. That the government and direction of ailairs of the company Bowl ¤f¤ir¤·=*¤¤¤· shall be vested in a board of directors, nine in number, who shall be stockholders of record, and who shall hold their office for one year, and until others are duly elected and qualified to take their places as directors; and the said directors (a majority of whom shall be a quorum) 0*“°°*¤· shall elect one of their number to be president of the board, who shall also be president of the company, and they shall also choose a vice president, a secretary, and treasurer, who shall give bond with surety to said company in such sum as the said directors may require for the faithful discharge of his trust. In the case of a vacancy in the board "¤¤¤¤°i*¤· of directors by the death, resignation, or otherwise, of any director, the uyacancy occasioned thereby shall be tilled by the remaining direc rs. Sec. 18. That the directors shall have the power to make and pre- B$·lW’· °*°· scribe such by-laws, rules, and regulations as they shall deem needful