Page:United States Statutes at Large Volume 34 Part 1.djvu/90

 60 F IFTY—NINTH CONGRESS. Sess. I. Ch. 636. 1906. and their successors from time to time to modify the conditions and regulations under which the work shall be carr1ed on, so as to secure the application of the funds in the manner best adapted to the conditions of the time: Ami provided, That such corporation may by a vote of two-thirds of the entire number of trustees enlarge or vary the purposes herein set forth, provided that the objects of the corporation shall at all times be among the foregoing or kindred_ thereto. (c) To receive and hold by gift, equest, devise, grant, or· purchase., any real or personal property, and to use and dispose of the same fo1· the purposes of the corporation. . _ T'“'*°°'· Sec. 3. That the direction and management of the affa1rs of the co1·- poration, and the control and disposition of its_ property and funds, shall be vested in a board of trustees, twenty-hve in number, to be com d of the followin individuals: Arthur T. Hadley, Charles Wiliiam Eliot, Nicholas Lfurray Butler, Jacob G. Schurman, Woodrow Wilson, L. Clark Seelye, Charles C. Harrison, Alexander C. Hum hreys, S. B. McCormick, Edwin B. Craighead, Henry1C. King, Charfes F. Thwing, Thomas McClelland, Edwin H. Hughes,. McClelland Bell, George H. Denny, William Peterson, Samuel Planta, David S. Jordan, William H. Crawford, Henry S. Pritchett, Frank A. Vanderlip, T. Morris Carnegie, and Robert A. Franks, being twenty-four in number with power to said board to increase the same to twenty-five in all, who shall constitute the first board of trustees and constitute the members of the corporation. Vacancies occurring by death, resignation, or otherwise shall be Hlled by the remaining trustees in such . manner as the by—laws shall prescribe, and the persons so elected shall · thereupon become trustees and also members of the corporation. ““‘°*"' °°°°‘ Sec. 4. The principal office of the corporation shall be located in the District of Columbia, but offices may be maintained and meetings of the corporation or the trustees and committees may be held in other places suc as the by-laws may from time to time fix. P°"°”‘ Sec. 5. That the said trustees shall be entitled to take, hold, and administer any securities, funds, or property which may be transferred to them for the purposes and objects hereinbefore enumerated, and such other funds or property as may at any time be given, devised, or bequeathed to them, or to such corporation, for the purposes of the trust; with full power from time to time to adopt a common seal, to appoint officers, whether members of the boa rd of trustees or otherwise, and such emplloyees as may be deemed necessary in carr ing on the business of t c corporation and at such salaries or with such remuneration as they may think proper; and full power to adopt by-laws and such rules or regulations as may be necessarv to secure the safe and convenient transaction of the business of the corporation; alld full power and discretion to invest any principal and deal with and expend the income of the corporation in such manner as in their judgment will best promote the objects hereinbefore set forth; and in general to have and use all the owcrs and authority necessarv to promote such objects and carry out the purposes of the donor. ` ,,,f,Q,f'°"’“°”‘ "' The said trustees shall have further power from time to time to hold as investments any securities transferred or which may be transferred to them or to such corporation by any person, persons, or corporation, and to inyest the same or any part thereof from time to time in such securities and in such forn1 and manner as is or may be permitted to trustees orto savings banks or to charitable or literary corporations for investment, according to the laws of the District of Columbia or in such securities as may be transferred to them o1· authorized for investment by any deed of trust or gift or by any deed Mmmm d n of gift or last will and testament to be hereafter made or executed. ¤,,,,,_ ° "' SEQ 6. That the said corporation may take and hold any additional donations, grants, devises, or bequests which may be made in the further support of the purposes of the said corporation.