Page:United States Statutes at Large Volume 26.djvu/683

FIFTY-FIRST CONGRESS. Sess. I. Ch. 1246. 1890. 629 him upon the trust and for the purposes hereinafter provided; and the said Comptroller may from time to time require an additional Additional aspen;. deposit from any such company, to be held upon and for the same trust and puxiposes, not excee ing, however, in value one-half the paid-in capita stock; and the said Comptroller shall not issue to any oeruqemnam iscorporation the certificate heretofore rovided for until said deposit °°°"""l d°°°°l°‘ wit him of securities required by this section. Within one year after the organization of any corporation under the provisions of this Residue or ssp1m. act, or after any corporation heretofore existing shall have availed itself of the powers and rights given b this act in the manner herein provided for, its entire capital stock shall have been paid in. ' Sec. 15 That the capital stock of every such com any shall be summer sun. divided into shares of one hundred dollars each. It shall be lawful for such company to call for and demand from the stockholders, Assessments. respectively, all sums of money by them subscribed, at such time an in such proportions as its board of directors shall deem proper, within the time specified in section fourteen, and it may enforce payment by all remedies provided by law; and if any stockholder Snlefcrnrrenrs. shall refuse or neglect to pay any installment as required by a resolution of the board of directors, after thirty days’ notice of the same, the said board of directors may sell at·public auction, to the highest bidder,_so many shares of said stock as shall pay said installment, under such general reglullations as may be adopted in the by-laws of said company, and the 'ghest bidder shall be taken to be the person yivho offers to purchase the least number of shares for the assessment ue. Sec. 16. That every such company shall annually, within twenty Annual report. days after the nrst of January of each- year, make a report to the · Comptroller of the Currency, which sha be published 111 a newspaper in the District, which shall state the amount of capital and of °°¤*¤¤¤- the proportion actually paid, the amount of debts, an the gross earnings for the year ending December thirty-first then next previous, together with their expenses, which report shall be signed by the president and a majority of the directors or trustees, and shall be verified by the oath of the president, secretary, and at least three of the directors or trustees; and said company shall pay to the District of Columbia, in lieu of personal taxes for each next ensuing year, Tues one and a half per centum of its gross earnings for the preceding year, shown b said verified statement, which amount shall be pay- able to the collector of taxes at the times and in the manner that other taxes are payable. Sec. 17. That if any company fails to comply with the provisions Liability of emma of the preceding section, all the directors or trustees of such company °° m‘"° °° '°’°"‘ shall be jointly and severally liable for the debts of the company then existing, and for all that shall be contracted before such report shall be ma e: Provided, That in case of failure of the complany in Pr<>m<>- any year to comply with the provisions of section sixteen of this act, "*‘°'”P**°¤· and an of the directors shall, on or before January fifteenth of such year. file his written request for such compliance with the secretary of the company, the Comptroller of the Currency, and the recorder of deeds of the District ot Columbia, such director shall be exempt ' from the liability prescribed in this section. Sec. 18. That any wilful false swearing in regard to any certificate u§g.{$g“¤,;'¤$.t¤é=¤¤*Q or report or public notice required by the Iprovisions of this act shall mmnwubsqukylm be rjury and shall be punished as suc according to the laws of the District of Columbia. And any misappropriation of any of the Misgppypprtmenn money of any corporation or company formed under this act, or any pums ° “ °"‘ mone ·, funds, or prgperty intrusted to it, shall be held to be larceny, and shall be unish as such under the laws of said District. Sec. 19. Tllat the stock of such company shall be deemed personal Swck deemed perestate, and shall be transferable only on the books of such company °°·§';,“l,,R,'§€’.,{,’.°g_"°" in such manner as shall be prescribed by the by-laws of the com-