Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1862-05-30


bound to keep said tracks, and for the space
of two feet beyond the outer rail thereof, and
also the space between the tracks, at all times
well paved and in good order, without expense
to the United States or to the cities of Wash
ington and Georgetown.
Sect. .. And he it enacted, that nothing in
this act shall prevent the government, at any
time, at their option, from altering the grade
or otherwise improving PENNSYLVANIA avenue,
and such other avenues and streets as may be
occupied by said roads, or the cities of Wash
ington and Georgetown from so altering or
improving such streets and avenues as may
be under their respective authority and con-
troll, and in such event it shall be the duty of
| said company To change their said railroad so
| as to conform to such altered grade and pave
| mentS.
Sect. 6. And be it further enacted, That
this act may at any time be altered, amended,
or repealed by the congress Of the United
States.
Sect. I. And be it further enacted, that
nothing in this act shall be so construed as to
authorize said body corporate to issue any
note, token, device, scrip, or other evidence
of debt to be used as currency.
Sect s. And he it further enacted, that the
capital stock of said company shall not be less
than three nor more than five thousand dol
lstTS, anu tlldI inc STOCK snail De divided INTO
shares of fifty dollars each, and shall be deem
ed personal property transferable in such
manner as the bylaws of said company may
direct
Sect. 8. And be it further enacted, that the
said company shall place tirst-class cars on
said railways, with all the modern improve
mcnts for the convenience and comfort of
passengers and shall run cars thereon during
the day as often as every five minutes, except
as to Seventh and Fourteenth streets, and on
these once in fifteen minutes each way, and
until twelve O'Clock at night as often as every
half hour; and throughout day and night as
much ottener as public convenience may re-
| quire.
Sect. 10. And be it further enacted. that
said company shall procure such passenger
rooms, ticket offices, stables, and depots at
such points as the business of the railroad
and the convenience of the public may re-
qulre. And the said company is hereby au-
thorized to lay such rails through transverse
or other streets may be necessary for the
exclusive purpose of connecting the said sta
bes and depots with the main tracks And
the said company is hereby authorized to pur-
chase or lease such lands or buildings as NAV
be necessary for the passenger rooms, ticket
offices, stables. and depots above mentioned
Sect. IL. And be it further enacted that
all articles of value that may be inadvertently
left in any of the or other vehicles of the
said company shall be taken to their principal
depot and entered in book of record of I'M
claimed goods, which book shall be open to
the inspection of the public at all reasonable
hours of business.
Sect. u. And be it further enacted. that
said corporation SHALL on demand of the pres
ident of the United States, secretary of war,
or secretary of the navy, cause to be trans
ported over said railway any freight cars laden
with freight for the use of the United States
the officers causing such service to be done
shall pay reasonable compensation therefor
Sect. ID And be it further enacted. that
within five days after the passage of this act
the corporators named in the first section, or
a majority of Them or if any refuse or neg
lect to act, then majority of the remainder,
shall cause books of subscriptions to the capital
stock of said company to be opened and kept
open, in some convenient andaccessible place
in the city of Washington, from nine o'clock
in the forenoon till five o'clock in the after
noon, for a period to be fixed by said corpora
tors, not less than two days, and said corpor-
atOrs shall give public notice, by advertise
ments in the daily papers published in the city
of Washington, Of the time when and the
place where said books shall be opened, and
subscribers upon said books to the capital
stockholders: Provided, that every subscri-
Der shall pay at the time of subscribing twen-
| ty-iye per centum OF the amount by him sub
| scribed TO the treasurer appointed by the cor
| poratOTs, or his subscriptions shall be null
and void. Ii at the end of two days
| larger amount than the capital stock of said
company shall have been subscribed. the
| books shall be closed, and the said corporators
named in the first section shall forth
with proceed TO apportion said capital stock
among the subscribers pro rata, and make
public proclamation of the number of shares
allotted To cach which shall be done and COM
| pleted on the same day that the books are
| closed: Provided, further, That nothing shall
be received in payment of the twenty -five
centum at the time of subscribing except
money or checks or certificates of deposit en-
dorsed good" by the president or 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 corpora
tors named in the first section, or a majority
of them, and in case any of them refuse or
| neglect to act, then Il majority of the remain
| der shall, within twenty days thereafter, call
the first meeting of the stockholders of said
| company, to meet within ten days thereafter,
for the choice of directors, of which public
| notice shall be given for five DAYS in two pub
lie newspapers, published daily in the city of
| Washington, or by written personal notice to
each stakeholder by the clerk of the corpora
| ton; and in all meetings of the stockholders
each share shall entitle the holder to one vote,
to be given in person or by proxy.
Sect. IA. And be it further enacted, That
the government and direction of the affairs of
| the company shall be vested in the board of
! 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 presi-
dent Of the board, who shall also be president
of the company; and they shall also choose
treasurer, who shall give bonds with surety to
said company, in such sum as the said direc-
tors may require, for the faithful discharge of
his trust. In case of vacancy in the board
of directors by the death, resignation, or 9TH
erwise, of any director the vacancy occasion
ed thereby shall be filled by the remaining di-
rectors.
Sect Is. And be it further enacted, that the
directors shall have full power to make and
| prescribe such bylaws, rules, and regulations
| as they shall deem needful and proper, touch
| ing the disposition and management of the
stock, property, estate, and effects of the COM
pany, not contrary to the charter, or to the
| laws of the United States, and the ordinance
of the cities of Washington and Georgetown