Page:United States Statutes at Large Volume 12.djvu/421

THIRTY—SEVENTH CONGRESS. Sess. II. Ch. 73. 1862. 391 cashier of some good solvent bank or banks. And when the books of subscription to the capital stock of said company shall be closed, the corporators named in the first seetion, 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 stock- Fii-st meeting holders of said company, to meet within ten days thereafter, for the °fSV’°kh°m“” choice of directors, of which public notice shall be given for five days in two public newspapers, published daily in the city of Washington, or by written personal notice to each stockholderby 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. S50. 14. And be it further enacted, That the government and direction of the afairs of the company shall be vested in the board of directors, Directors. seven in number, who shall be stockholders, and who shall hold their office for one year and till others are duly elected and qualified to take their places as directors ; and the said directors (a majority of whom, the president being one, shall be a quorum) shall elect one of their number to be president of the board, who shall also be president of the company ; and PF°¤id°¤*· they shall also choose a treasurer, who shall give bonds with surety to Treasurefs said company, in such sum as the said directors may require, for the faith- b°“d‘ ful discharge of his trust. In case of a vacancy in the board of directors Vacancies. by the death, resignation, or otherwise, of any director, the vacancy occasioned thereby shall be filled by the remaining directors. Sec. 15. And be it jiuvt/zcr enacted, That the directors shall have full Bydawspower to make and prwcribe such by-laws, rules, and regulations, as they shall deem needful and proper touching the disposition and management of the stock, property, estate, and effects of the company, not contrary to the charter, or to the laws of the United States, and the ordinances of the cities of Washington and Georgetown. Sec. 16. And be it further enacted, That there shall be an annual _ A¤¤¤¤lmeetmeeting of the stockholders for choice of directors, to be holden at such gg of St°°kh°m‘ time and place, under such conditions, and upon such notice, as the said company in their by-laws may prescribe; and said directors shall annually make a report in writing of their doings to the stockholders and to Congress. Sec. 17. And be itjlcrther enacted, That the Mayor, Common Coun- Officers of cities cil, and the several oilieers of the Corporations of the cities of George- gggNGf;;‘;“g*°“ . . . . . getown town or Washington, and the said Corporations are hereby prohibited not to obstruct, from doing any act or thing to hinder, delay, or obstruct the construction &¤·, ¥¤ilf<>¤-d- or operation of said railroad, as herein authorized. Sec. 18. And be it further enacted, That the said company shall have ObS**‘¤°*l°¤ °Y at all times the free and uninterrupted use of their road-way, and if any Egggiggjyizw person or persons shall wilfully and unnecessarily obstruct or impede the punished. passage on or over said railway, or any part thereof, or shall injure or destroy the ears, depot stations, or any property belonging to said railway oompauy, the person or persons so offending shall forfeit and pay for P°“”‘“Y· every such oilence the sum of five dollars to said company, and shall re- D¤m8°¤· main liable, in addition to said penalty, for any loss or damage occasioned by his, her, or their act, as aforesaid; but no suit shall be brought unless b Suitgstm sgi commenced within usixty days after such offence shall have been com- 66°§§yS_w' ° mitted. Sec. 19. And be it further enacted, That unless said corporation shall _ Unless railroad make and complete their said railways between the Capitol and George- €m‘;?uUPg§;fd“t ¥0W¤ within sixty working days from and after the oompany shall have who {oid_ ’ been organized, and from the Capitol to the Navy Yard within sixty days thereafter, and on said Seventh Street, and from said Boundary Street, on Fourteenth Street, to the point of intersection as aforesaid, within six months from the approval of this act, then this act- shall be null and void and no rights whatsoever shall be acquired under 1t.