Page:United States Statutes at Large Volume 2.djvu/576

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Meetings of the company.
Their powers.
That the said company shall meet on the first Monday in February, in every year, at such place as shall be fixed by their by-laws, for the purpose of choosing such officers as aforesaid for the ensuing year, in manner aforesaid, and at such other times as they shall be summoned by the president and directors aforesaid, at which annual or special meetings they shall have full power and authority to do and perform any act by law allowed, and pertaining to the affairs of said company.

Printed certificates of shares, &c. &c.Sec. 4. And be it further enacted, That the president and directors shall procure printed certificates for all the shares of said stock, and shall deliver one such certificate, signed by the president, to each person for every share by him or her subscribed and held, which certificate shall be transferable, at his or her pleasure in person, or by attorney, in the presence of the president or treasurer, subject however to all payments due or to grow due thereupon; and the assignee holding such certificate, having caused the assignment to be entered in a book of the company to be kept for that purpose, shall be a member of said company, and for every certificate by him held, shall be entitled to one share in the capital stock and estate of said company; and if any stockholder, after thirty days’ notice in a public paper printed in each of the towns of Alexandria and Georgetown, of the time and place appointedPenalty on non-payment of instalments on shares. for the payment of any portion or dividend of the sum subscribed in said stock, shall neglect to pay the same for the space of thirty days after the time so appointed, the share or shares on which such delinquency has taken place shall be forfeited to the said company, and may be sold by them to any person or persons, willing to purchase, for such price as can be obtained, and in case such share or shares should not, on a sale so to be made, produce a nett sum equal to the portion or dividends then remaining to be paid thereon, such deficiency may be recovered of the person or persons, so failing to pay, by warrant from a justice of the peace, if the amount shall not exceed twenty dollars, and if the sum so due shall exceed twenty dollars, the same may be recovered by motion, in the name of the said company, on ten days’ notice, in any court of record in the county or district where the debtor may be found; and in all such warrants and motions the certificate of the clerk or recording officer of the said company shall be conclusive evidence of the defendant’s being a member of the company, and prima facie evidence of the amount due on the share or shares held by such defendant.

Meetings of the president and directors.Sec. 5. And be it further enacted, That the said president and directors shall meet at such times and places as shall be agreed upon for transacting their business; at which meetings any three members shall form a quorum, who, in the absence of the president, may choose a chairman, and shall keep minutes of all their transactions, fairly entered in a book; and a quorum being met, they shall have full power and authority to appoint a treasurer, and agree with and appoint all such surveyors, intendants, artists, or other agents as they shall judge necessary to carry on the intended works, and to fix their salaries, wages or compensation; to direct and order the times, manner, and proportions, when and in which the stockholders shall pay monies due on their respective shares; to draw orders on the treasurer for all monies due from the said company, and generally to do and transact all such other matters, acts and things, as by the by-laws, rules, and regulations of said company, shall be required or permitted.

Route or course of the road.Sec. 6. And be it further enacted, That the said president and directors shall cause to be surveyed, laid down, ascertained and fixed, the said turnpike road, from the west end of Mason’s causeway, and passing near to the head of the tide water of Four Mile run, at a place called Adam’s Mill, and thence to the limits of Alexandria, in such route or track for the same, as in the best of their judgment and skill