674 FIFTIETH CONGRESS. Sess. II. Ch. 176. 1889. materials provided in the execution of the work of constructing said ship-canal; and the stock issued for these purposes shall be deemed paid up stock and shall not be liable to any urther_calls or assessments; may do all lawful things to secure the fulldengoymentof the powers, privileges, rights, benefits, and grants contained in any ` canal concession so made by the Republic of Nicaragua or to be made by the Republic of Costa R1ca, as aforesaid; and to aid in the construction of said canal and to carry_0ut the purposes of this act, the said Maritime Canal Company of N icaragua is hereby authorized amos to issue its bonds, and to secure the same by mortgage on its property and rights of property of all kinds and descriptions real, persona , rrmeapuomwmw and mixed, inclu ing its franchise to be a corporation. The prin-
- “N°" °"‘· ci al office of said corporation shall be 111 the city of New York, and
all) legal process may be served upon the person who may at the time be in charge of said office or upon the attorney of said company, whose name and address shall be certified by the president ·of the company; and such certificate shall be filed in the office of the
- 0- Secretary of State of the United States: Promded, however, _That
nothing in this act contained shall be so construed as to commit the Nv 1§c¤¤i¤w1i¤b¤— United States to any pecuniary liability whatever for or_on account mm" °G°v"°m°”°` of said company, nor shall the United States be held in any wise liable or responsible in any form or by any implication, for any debt or liability, in any form which staid company may ipcur, nor be hel 1 as guaranteein an engagemen or con -ract o said company, or as having assumed by? virtue of this act, any responsibility for the acts or proceedings of said company in any foreign country, or contracts or engagements entered into, in the United tates. _ capsmsmk. Sec. 2. That the capital stock of said company shall consist of not less than one million shares of one hundred do lars each, with the right to increase the capital stock to two million shares of one hundred dollars each, upon the vote of two-thirds of the stock of said company at any time outstanding, which shares shall in all respects be deemed personal property and shall be transferable in such manner as the y-laws of said corporation may provide. Five incorpo- . rators, who shall be chosen by a majority of the number from_those opeumgmucmptiou named in this act. shall have power to open books oi subscription ”°°"" to the lpapgal speck of salid Idompgny in the3T city of New Ydorkh and at suc other p aces in the nit tates, icaragua, or e sew ere, as (iihey mayi ddgignlagse, whp ship receive all sublscriiptipnsffolii stock; an no stoc s trans era e except u on the oo *s o the comrubue umm. pany provided for that pprpose. The saidpincorporators shall give thirty days’ notice of the time and place of the op;-zning of said books. by publication in one daily newspaper in New ork City, and one newspaper in Managua, Nicaragua. and one in San José. Costa Rid;., if tSe said canal should be in pagt ldnhthe territoirypf that Repu ic. ixt ( ays’ previous notice s a .e given o the ayment required of the time and place of pagment by publicatioil) i11 one daily newspfwper in the city of New ork and in one newspaper in Managua. icaragua, and one in San José, Costa Rica, if the said canal should be in part in the territory of that Republic; and in cas; any stocklholtdiziiislhadé degkzct or reiuse pp] payil inh pdlrsualnple of suc notice, the s e y im ma e so to the i est i der {or casth, acfpording to thdylegiplws tpl be maple theref§· gnfthe by- aws o said company. e ir rs ereina ter provide or ma By-1·¤ws.<>w- adtipf regdlatipxpp dpd bylaw; noltoinlconsistefpt with thehprovisionls o is ac . s ares, s oc s, n s, certi cates, or other securities which the company may issue to raise the corporate capital shall ge eiecuted and issued at the principal office in the city of New or . ¤¤r¢i¤w¤es¤<>¤¢¤b¤ Sec. 3. That no certificates for stock, except as otherwise rovided
tm P"` in this act, shall be issued till at least ten perlcentum of the par value
thereof shall be fully paid for, in money, and such money dleposited
