Page:United States Statutes at Large Volume 38 Part 1.djvu/973

 SIXTY-THIRD CONGRESS. Sess. III. CHS. 88, 89. 1915. 955 created a body corporate and politic in the District of Columbia, by the name, title, an style of the Ellen Wilson Memorial Homes, and by that name shall have perpetual succession, and it shall be lawful for the said corporation to ave a common seal, sue and be sued, plead and be imp eaded, and have and exercise all the rights privileges, immunities for the urposes of the corporation ereby created, P°"°°°°‘ which purposes are decllire to be to acquire, hold, improve, rent, _ mortgagglsell, and conve real estate within the District of Columbia for buil g, in memory ol, the late Mrs. Woodrow Wilson, one or more blocks of sanitary houses for the workintg classes and renf the same at a rental sufficiently low to cause e abandonment ofudllagdated and insanitary houses, as an object lesson in the housing of e working classes under good conditions and at reasonable rates: P, Provided, That the value of any and all propgrrty so acquired shall vuue or papacy not exceed the sum of $500,000: Provided {nrt , That no land shall '°‘f§€,Y’;,,,,,,,_ ge ac%;i(1ied or house built thereon except 0 the character hereinbeforc escri . sm. 2. That the etggai stock of said corporation than be $25,000, °°"‘“‘“‘°°‘ divided into two hun d and fift shares of the E: value of $100 each, and when said amount shah have been su ribed the said corporation shall be fully authorized and empowered to commence ,, I busmess: Provided, That said capital stock may be increased by the mmm sale of additional stock from time to time, but the total issue thereof DmdwmmM_ shall not exceed the sum of $500,000: Providalfurther, That it shall be unlawful for the officers or directors of said corporation to declare any greater dividend to the stockholders than five per centum per annum upon the capital stock outstanding at the time of such dividend. Bwd 0, M I Sec. 3. That the affairs of the corporation shall be managed lzga naman-, pawn, board of directors consisting of fifteen persons, who shall for the t °°°‘ year be elected by the incorporators, hereinbefore named, and thereafter said board shall be elected annually in such manner as may be provided by the by-laws of the corporation, and such board of directors shall have power to ordain, esta lish, and put into execution such rules, regulations, ordinances, and by-laws as they may deem essential for the good government of the corporation, not contrary to the laws and the Constitution of the United tates or of this Act, and generally to do and perform all acts, matters, and things which a corporation magy or can lawfully do. _ mc. 4. That Congress reserves the right to repeal, alter, or amend this Act. Approved, March 3, 1915. CHAP. 89.-An Act To amend section two of an Act entitled "An Act to incur- porate the National Society of the Daughters of the American Revolutionil  Be it enacted by the Senate and House eo; Representatives ty the United h M States I? America in Congress assembl, That section two of an Act A§§,‘},,§,,,‘§f,$.,,§’,{,,f,,,_ entitle "An Act to incorporate the National Society of the Daughters V¤i-¤°»P·°»¤¤¤·¤<¤¤¤- of the American Revolution," approved Februari twentieth, eig teen hundred and ninety-six, be, an the same is here y, amended so as to _ read as follows: Pmpmy um, ,¤_ "Sec. 2. That the said society is authorized to hold real and per- eraser. sonal estate in the United States, so far only as may be necessary to its lawful ends, to an amount not exceeding $1,000,000, and may adopt a constitution and make by—laws not inconsistent with law, and may adopt a seal. _ _ _ Hmqwm "The said society shall have its headcguarters or principal office at Washington, in the District of Columbia. Approved, March 3, 1915.