Delaware State journal and statesman., 1862-05-30

the clerk of the corporation; and in all meet
ings of the stockholders each share shall entitle
the holder 10 one vote, to bs given in person or
by proxy
SEC Ia. And bel further enacted Tint the GOV
ernment and direction Of the affairs of the eompa.
ny shall be vested in the board Of directors seven
in number, who shall be stockholders, and who
shall ho'd their office for one year and ill others
are duly elected and qualified TO take their places
as directors; and the said directors IA majority
of whom, the president being one shall be
quorum) shall elect one of their number 10 be
president of the board, who shall also be pres-
dent of the company md they shall also choose
treasurer, who shall give bonds with surety to
said company in such sum as the said directors
may require, for the faithful discharge Of his
trust. In case of vacancy in the hoard of di-
reCtors by the death, resignation or otherwise
OF any director, the vacancy occasionel thereby
shall be filled by the remaining directors
Sec. 10. And BE- il further enacted That the
directors shall have full power to make and pre-
scribe such by laws rules and regulations as
they shall deem needfu and proper touching the
disposition and management OF the stock, pro
perty, estate and effects of the company, not
contrary to the charter or to the laws of the
Uuited States, and the ordinances of the cities
OF Washington and Georgetown.
Sec l6. And b. IL further enacted, That there
shall be an annual meeting of the stockholders
for choice Of directors, to he holden Mt such time
and place, under such conditions, and upon such
notice, as the said company in their by laws may
prescribe and said directors shall annually
make report in writing oi their dOings to the
stockholders and to Congress.
Sec. ". And be il FURTHER enacted, That the
Mayor, Common Council, and the several officers
of the corporation Of the cities Of Georgetown
0r Washington, and the said corporations are
hereby prohibited from doing any act or thing
to hinder, delay or ohstruct the construction or
operation OF said railroad, as herein authorized.
Sec. lS. And be il FURTHER enacted, That the
said company shall have at all times the free aud
uninterrupted use of their roAd way; and if
any person or persons shall viii fully and unne-
ceasarily obstruct or impede the passnge on or
over said railway or any part thereof or shall
iniure or destroy the cars depot stations, or nny
property belonging to said raroad company.
the person or persons so offending shall forfeit
and pay for every such offence the sum Of five
dollar' TO said company, and shall remain liable
in addition to sail penalty, for any loss or dam
age occasonel by HIS her their act, as alOre-
said but no suit shall be brought unless com
menced within sixty days after such offence shall
have been committed,
Sec. 10 Ind be IL further enacted That un-
less said corporation shall make and complete
their said railways between the Capitol and
Georgetown within sixty working days after tho
company snail nave heen organized, auu IRON
the Capitol to the Navy Yard within sixty days
thereafter, and on said Seventh street, and from
said Boundary street, on Fourteenth street, tt
the point of intersection as aforesaid within sil
8 months from the approval of this act then this
act shall be null and void, and no rights what
ever shall be acquired under it.
Sec. 20. lind te il FURTHER enacted, That al
acts aud parts of acts heretofore passed, whicl
: are Inconsistent with any of the provisions 0
this act are, for the purposes of this act, hereh
repealed, so far as the same are inconssten
herewith.
e Approved May II, 1862.