Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-06-09

named in the first section or MAORI
ty of them, or if any refuse or neglect
TO act, then majority of the remain
der, shall cause books of subscription
TO the capital stock of the said corpo
ration to be opened and kept open IN
such place and for q period to be fixed
by said corporators, or a majority OF
them, public notice of which may be
given by advertisement or otherwise
as said corporators or a majority OF
them may determine and subscrl.
bers upon said books to the capital
stock Of the corporation shall be held
20 be stockholders Procided, That
every subscriber shall pay, at the
time Of subscribing, such per centum
of the amount by him subscribed to
the treasurer elected or appointed by
the corporators, or q majority of them,
as may be required by said corpora.
tors or a majority Of them, or his sub
scription shall be null and void. And
when the books Of subscription to the
capital stock of said corporation shal
he closed, the corporators named il
the first section, or majority o.
them, and in case any of them refuse
or neglect to act, then a majority OF
the remainder, shall, within twenty
days thereafter, call the first meeting
of the stockholders of said corpora
ton, to meet within ten days thereaf.
ter, for the choice of directors, OF
which pnblic notice shall be given for
three days in two public newspapers
published daily in Washington city
or by written personal notice served
on each stockholder, by the secretary
or clerk of the corporation. And in
all meetings of the stockholders each
share shall entitle the holder to one
vote, to be given in person OR by
proxy. us - a
Sec. 5. And be u further enacted,
That the government and direction OF
the affairs Of the corporators shall be
! invested in board of directors, five
in number, elected by tue stockholders
on the first Monday of December in
each year from among the corporators
named in the first section of this act,
and their successors, elected or ap.
pointed in the manner hereinafter de.
clared by the masonic bodies they rep.
resent, who shall hold their office for
one year and until others are duly
elected and qualified to take their
places as directors and the said di
rectors shall elect one of their number
to be president Of the board, who
shall also be president of the corpora
ton, and shall elect a secretary from
among their own number, or from the
icorporators aforesaid, who shall also
he secretary of the corporation, ant
they shall also choose treasurer, wht
shall give bonds with surety to sai'
corporation, in such sum as the sal
directors may require, for the faithfr
discharge of his trust. A majorit
of the directors shall form quorur
for the transaction of business, and j
case of vacancy in the board Of d
rectors by the death, resignation, o
otherwise, of any director, the vacan
cy occasioned thereby shall be fille'
by the remaining directors from anon,
the corporators named in the first sec
ton of this act, or their successor
duly elected or appointed in the man
ner hereinafter declared by the mason
ic bodies they represent.
q Sec. 6. And be IL further enacted
That the directors shall have full pow
er to make and prescribe such bylaw.
rules, and regulations as they sha
deem needful and proper for the disp'
sition and management Of the stool
property, estate, and effects of the CO
poration, not contrary to the charte
or to the laws of the United State
and the ordinances of Washingto
city, and shall have power to alter @
amend the same as the interests Of tn
corporation, in their opinion, may n
quire. And the said directors shaI
have power to regulate tho paymen
Of interest upon the certificates o
stock held by the stockholders, or {
the divideds that may acquire, anc
shall have power to provide for tht
redemption of the stock held by indi
viduals, upon fair and equitable terms
Sec. I. And be IL further enacted
That each masonic body or organiza
ton, named in the first section of this
act, shall be entitled, during the month
of November, eighteen hundred ant
sixty-four, and annually thereafter. t.
meet and select, by ballot, one of il
members as successor to the persol
then, or last, representing it as mem
Der Of this corporation, whose annua
term expires next thereafter, or whicl
may have expired next before tina
time, SO that said corporation shal
forever consist Of one corporator fror
each of the said masonic bodies
named in the first section of this act
Prorided, hOacerer, That should any G
the said several masonic bodies
named in the first section of this act
surrender or forfeit its masonic char
ter or warrant, or from any caus
cease to be recognised by the Orde
Of Free and Accepted Masons, it shall
not thereafter be entitled to any rep
Yesentation in said corporation, no
shall the continued corporate existenc
and rights of this association be ii
anywise affected thereby, SO long a
there remain five corporators qualife,
to- act as such. aaua.. H
Sec. 8. And be IL further enacted
That any masonic lodge, chapter, coul
ell. commandery, or consistory now ]
existence or that may hereafter be il
stituted in the District Of Columbia
may. by and with the consent of two
thirds of the corporators named in tn
first section, or their successors, b.
admitted to a representation in sal,
corporation upon an equal footing
with the several masonic bodie,
named in the first section Of this act
Sec. 9. And be IL further enacted
That this act may be altered, amen
ded, or repealed, at the pleasure O
the Cong ress Of the United States O
America.
Approved. April 26, 1864.
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