The daily union. [volume] (Washington [D.C.]) 1845-1857, 1854-08-06
Public, No. H.
AN ACT to incorporate the National Hotel Company
Washington City.

BE enacted ty me Senate and House Of Representatives. Of
The United States Of Anerica Congress assembled That
man, Philip Otter back John Withers, Richard II. Stuart
and Joseph Bryan and those who may hereafter become
successors be- they hereby declared
be body polite and corporate by the and sty of the
aforesaid have perpetual succession, with power
and be sued and to make and seal and to
said company and also hold use, and enjoy sim
pie for lesser estate the lots and parcels Of ground and
TO- H. IL, 49, aud parts Of lots and H. square 49,
the plat OF said city, upon which erected the house
buildings and appurtenances known and denomjnated
the National Hotel and also any additional lots parts of
lots adjoining the said property which may be hereafter ac
quired by said company and also the improvements fixtures
convenences and advantages erected said lots parcels
OF ground appurtenant thereto;
stock of said company shall be hundred thousand dollars
divided into live thousand shares of hundred dollars
each and shalt be distributed among the parties in
the said lots OF ground and premises in such manner shall
be agreed upon between he and copnrtncr
ship, who shall be proprietor OF one
shares shall by virtue thereof be member Of said
poraton and shall be entitled at all meetings of the stock
holders for the election Of officers for any other purpose
stock so held.
SECTION B. And be farther enacted, That the affairs Of
the said company shall be conducted by president and six
directors be elected BY the stockholders present
oity thereof the first Monday Of November in
the year eighteen hundred and ttytour and the first
Monday Of November in each succeeding within thirty
days thereafter and shall continue in Office for and
until chosen and the election in Novem
Der shall be held by the persons named in The first
ton this act majority of Them and every subsequent
election shall be held by the president ana directors OF said
company.
SEcrioN Ana be further eaaed That the said pres
dent and directors shall have power fiji all vacancies which
shall in their body dnrng their continuance in
oce and prescribe the evidence ownership and mode of
transfer u shares OF stock in said company and they shall
Keep full records of their proceedings which shall be open
the inspection the stockholders at all tines, and shall report
least annually, of their affairs TO the stock
holders and shall declare dividends of the profits part
thereof Mt their discretion and generally exercise all the
AID privileges OF the corporation necessary proper
to otc he objects thereof.
SEcrIoN 5. Ana be 1t further enacted, That the shares of
the capital stock OF said company shall be deemed personal
and that special meetings of the stockholders be
called BY the presS and directors hv number not
less than third in of shares the stockholders
which meeting members present and representing
the whole capital stock, shall be quorum for the
OF business and the stockholders such meetings
general meeting where such majority stock
represented shall have full power 10 alter repeal by
regulation made by the president and directors and
may make rules and BY laws, which shall be binding
the said president and dreco' Prorded That the be
contrary to the provisions of this act.
SECTION g. And be further enacted That nothing in this
contained shall be construed the property of
said corporation from such taxation similar property be-
logging any ote individual corporation s subject
SECTION (. And be further enacted, That nothing in this
contained shall b. construed TO authorize the said
pany exercise banking privileges to issue note in
the bank note certificate pay able to bearer
SECTION g. Asd be further enueted That each OF the
Stockholders the said National Hotel Company Of Wash
ngton City shall be held liable in his her individual capa
city all the debts and liabilities of the said company how
incurred be recovered by other
debts liabilities before the court tribunal having uris
dicton oil the
SEcrloS g. Aud be further enacted That it be lawful
Congress hereafter to alter amend change orrcpesl the
foregoing act.
Approved August 3, 1854.