The Empire County argus., 1854-11-25

tate the and parcels of ground and premises situated
in the city of Washington being lots g. g. TO- H. r. b.
and part of lots and A. in square 49, the plat of said
city, upon which are now erected the house buildings
and appurtenances known and denomnated the Nation
al Hotels and also any additional lots parts of lots
adjoining the SAID property which may be hereafter
qured by said company and also the improvements, fix
tures convenenccs and advantages erected said lots
parcels of ground appurtenant thereto.
SEC. And be FURTHER enaccd, That the capital stock
of said company shall be five hundred thousand dollars to
lars each and shall be distributed among the parties nte
rested in the said lots of ground aud premises in such man
shall be agreed upon between hem and every per-
cenartnershp, corporation, who shall be
prietor of shares SHALL by virtue thereof be
member of said corporation, and shall be entitled at all
meetings of the stockholders for the election Of officers
for any other purpose to one vote in person or by proxy
for every share of the stock so held.
SEC g. And be further enacted That the affairs of the
said pany shall be conducted by president and six d
rectcrs be elected by the stockholders present
ority thereof the first Monday of November
in the year eighteen hundred and your and the first
Monday of November in each succeeding year within
thirty days thereafter and shall continue in Office for one
year and until chosen and that election
in November next shall be held by the persons named
the first section of this act, maorty of them and
ry subsequent election shall be held by the president and
directors OF said company.
SEC T. And be fither encted That the said president
and directors shall have powor to fill all vacancies which
Office and to prescribe the evidence of ownership and mode
of transfer of shares of stock in said company and they
shall keep full records Of their proceedings, which shall be
open to the inspection of the stockholders at all times and
shall report at least annually, statement of their affairs
to the stockholders and shall declare dividends of the
fits any part thereof at their discretion, and generally
may exercise all the power and privileges of the corpora
ton necessary proper promote the objects thereof
SIC g. And be further enacted, That the shares of the
capital stock of said company shall be deemed personal
estate and that special meetings of the stockholders
be called by the president and directors by number
less than onehr in amount of shares of the stock
holders, which meeting members present, and represen
ting majority of the whole capital stock, shall be quo
rum tho transaction of business and stockholders
such meetings, at any general annual meeting, where
such majority Of stock shall be represented shall have full
power to alter repeal any bylaw regulation made by
the president and directors and may make rules and
bylaws, which shall be binding the said president and
directors Prouided That the be contrary the
provisions of this act.
Sec. g. And be 1t further enacted That nothing in this
act contained shall be construed to exempt the property Of
said corporation from such taxation similar property
belonging to any other individual corporation subject
to.
SEC. T. Ind be further enqcted, That nothing in this
act contained shall be construed to authorize the said
pany to exercise banking privileges to issue any note
in the form of bank note certificate payable to bear
SEC 8. And be further enacted, That each of the stock
holders in the said National Hotel Company of Washing
ton City shall be held liable in his her individual capa-
city for all the debts and liabilities of the said company
however contracted incurred to be recovered by suit
other debts liabilities before the tribunal
having jurisdiction of the
SEC. g. And be 1t further enacted That it may be law
full for Congress hereafter to alter amend change repeal
the foregoing act.
Approved August 3, 1854.