500 FOBIY-THIRD CONGRESS. Sess. II. Ch. 161. 1875, to act, then a majority of the remainder, shall, within ten days there- Fmt meeting of atm-, call the iirst meeting of the stockholders of sand company, to mw; stockholders to within ten days thereafter, for the choice of seven direetors,_of which choose directors. public notice shall be given for three days, in not less than two newspapers published daily in the cityd;>fldWa§hinEton, ortby written or riuted personal notice to eac stoc 0 er y the secre ary or clerk of Ebe said corporation. And in all meetings of the stockholders each b°X‘<£>g of ¤*<>°k· share shall entitle the holder toons vote, to be given in person or by proxy. _ B,,,,,,; of ,1;,,,,,*, Sec. 13. That the government and direction of the affairs of the comors, mm. pany shall be vested m a board of directors, seven in number, who shall be stockholders, and who (shall lbgldi tbeirkoffice for pneéyear, or until others are duly elected an quai e to ta e their p ace as directors. Q“°“““· And the said directors (a majority of whom shall constitute a quorum) b P*&°°*g°”* °f shall elect one of their number to be president of the board, and who PQQ; ‘“‘ °°°" shall also be president of the company; and they shall also choose a Bond of trees- treasurer, who shall be a stockhlolder, andbwho glilall give bonds, with urcr- security to said company in suc sum as the said irectors may require for the ihithihl discharge ’of his trust; and said board shall also elect S o oro tar y or a secretary, who shall also be a stockholder, and who shall performsuch board. _ duties as usually pertain to said office. In case of a vacancy in the ‘ “°““°-V m *’°°·‘d· board of directors, by death resignation, or otherwise, of any director, the vacancy occasioned thereby shall be filled by the remaining directors. p · ra; t. Sec. 14. Thaf the directors shall have full power to makoand preors Oiocrrgipkemdy- scribe such by—laws,_rules, and regulations as they shall deem needful
- ]*:5 ****1;-»**;' '”“”· and proper respecting the disposition and management of the stock,
fxé; °“ ° I”°P' property, estate, and eifegts of the compgny, not contrary to the charter ` or the laws of the United tates or of the istrict of Columbia: Provided ‘ Power of direct- That the directors of said company shall have power to require the sub; °¤¤*·°¤°!é¤*¤{*)°Pi%¥· scribers to the capital stock to pay the amount by them respectively "?°“” ° ““ "“P' subscribed at such time, after the first installment,) in such manner mm and in such amounts as they may deem proper- and- if any stockholdei D _ I f shall refuse' or neglect to pay any installment as required by a resolumcnjftglg 0*} Sgt? tion of the board of directors, after reasonable notice of the same, the ’ said board of directors may sell at public auction, to the highest bidder, so many shares of his said stock as shall pay said installment, (and the highest bidder shal be taken to be the person who offers to purchase Collection of as- the least number of shares for the assessment due,) under such general ¤<=¤¤¤¤¤¤*¤ by ¤¤¤*· regulations as may be adopted in the by-laws of said company; or body corporate may sue and collect the same from any delinquent sab- Capital not to be scriber in any court of competent jurisdciction; and no part of the capi- Wili ¤¤W¤· tal paid in shall at any time be with rawn by said company or any I member thereof. Meetingforchoice Sec. 15. That there shall be an annual meeting of the stockholders of d¤‘¤¤¤<>f¤· for choice of directors, to be holden at such time and place, under such conditions; and upon such notice as the said company, in their by-laws, d_A¤€gm1 report of may prescribe; anlélbsagd directors shall annually make a report of their ¤¤‘¢¢= H- oings to the stoc o ers in genera meeting. Obstruction o£ Sec. 16. That if any person or persons 'shall willfully and unneces- !¤¤4¤¤z¤ <>f¤¤*¤·¤¤· sarily obstruct or impede the passage of the cars of said railway, or urin ro ert · · J g P P Y' destroy or injure the cars, dep0t,`stat10us, or other property belonging to said railway, the person or persons so offending shall forteit and pay for each such offense the sum of ten dollars to said company, to be recovered and disposed of as other fines and penalties in said District,_ and shall remain liable, in add1tion to said penalty, for any loss or dampimltation of age occasioned by bis, her, or their act as aforesaid; but no suit shall suit. _ lbs brcggght unless colmmenwd within sixty days after such offense shall ave n committe . _ Limit of time for Sec. 17. That unless said corporation shall commence to lay the said construction. track within four months and complete their said railway within sixteen m_onths after the passage of this act, then this act shall be null and void, and no rights whatever shall be acquired under it. _ .
