Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-10-29


PrepsSe2. Thx; s2sl eu<yss..ssE shan tske
and Asll n zasss lad ;hsa h necs~s.ry tor .
ss.s On xkieh 70 erect = n.ssouic LAl. suisa-
be AID esaxcnsaz; far the transacsioa * ths
baziness of the association znl the prssnotioa
Of the Fineipi<. aud purposes xforussid-
Bat this rrorissoa saali not prsvsni the SID
csrP1ra;soa froza constructing suitable rooos
aud ofhcss IN connection with the sad hall %
rent, and ren;iag the szme. and rseeisieg
rent th-rsfor. 10 be applied to the prsossisa
Of the principles and purposes aSsresaid.
Sec 3. Asd be Il frfAy esscsed. Thae
the capital stock Of said eorporatisn shan Bet
exceed the sum Of three hundred thossand
dollars, and that the stock shall be divided
into shares of twenty dollars each /; and shall
be deemed perSonal property, transferable in
such manner as the constitution and bylaws
Of said corporation may direct.
Sec. 4. And be ii further esdcfed. That
within twenty days after the passage of
this act the corporators named in tho
first section. or majority of them, or If any
refuse or neglect to act, then a majority Of
the remainder, shall cause books of subscrip-
tion to the capital stock ofths said corpora
tion to be opened and kept open in such place
and for a period TO be fixed by said corpora
tors, or majority Of them, public notice Of
which may be given by advertisement or 9th
crwise as said corporators or q majority Of
them may determine; and subscribers upon
said books to the capital stock Of the corpo-
cation shall be held to be stockholders: Pro-
vided, 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 corporato1s, or q
majority Of them, his subscription shall be null
and void And when the books of subscription
to the capital stock Of said corporation shall
be closed, the corporators named in the first
section, or a majority Of them, and in case
any of them refuse OF neglect to act, then a
majority of the remainder, shall, within twen-
ty days thereafter, call the first meeting of the
stockholders of said corporation, to meet
within ten days thereafter, for the choice Of
directors, of which public notice shall be
given for three days in two public newspa.
pers 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.
Sec. 5. Ind be 1t further enacted, That
the government and direction Of the affairs Of
the corporators shall be invested in board
of directors, five in aumbcr, elected by the
on the first Monday Of Decem-
Der in each year from among the corporators
named in the first section ofthis act, and their
Successors, elected or appointed in the man
ner hereinafter declared by the masonic
bodies they represent, who shall hold their
Office for one year and until others are duly
elected and qualified to take their places az
directors; and the said directors shall elect
one OF their lumber to be president of the
board. who shall also be president of the cor
poration. and shall also elect secretary from
among their own number, or from the corpo-
rators aforesaid, who shall also be secretary
of the corporation, and they shall also choose
a treasurer, who shall give bonds with surity
to said corporation, in such sum as the said
directors may require, for the faithful dis
charge of his trust. A majority of the d.
rectors shall form a quorum for the transaction
Of business, ard in case of vacancy in the
board of directors by the death, resignation,
or otherwise, of any director, the vacancy
occasioncd thereby shall be filled by the re.
tors named in the first section Of this act, or
their successors duly elected or appointed in
the manner hereinafter declared by the ma
sonic bodies they represent.
Sec. 6. And be 1t further enacted, That
the directors shall have full power to make
and prescribe such bylaws, rules, and regu-
lations as they shall deem needful and prop.
er for the disposition and management Of the
stock, property, estate, and effects Of the
not contrary to the charter or to
the laws of the United States and the ordi.
nances of Washington city, and shall have
power to alter or amend the same as the in.
forests of the corporation. in their opinion.
NAV require. And the said directors shall
have power to regulate the payment Of interest
upon the certificates OF stock held by tho
or TO the dividends that may
accrue and shall have power to provide fur
the redemption Of the stock held by individ-
uals upon fair and equitable terms.
Sec. 2. And he Il (s,iher enacted, That
each masonic body H organization. named
in the first section Of this act. shall te entitled,
during the month cf November. eighteen hum
dred and sixty fonr. and annually thereafter.
10 meet and select. by balo', one OF its meme
lsrs as q successor TO the p-ason then. os
last. rrrrrs.nfin- IL ss members c. this eorpo.
ratisn. wbcsr annusi term expires p~xi there.
after. er which ma, have expired neat brfose
that time. 80 that said corporation shall
iacscr oonsis, o. o. cxpor.sos frosn each of
the said masonic bodies. nass-d IN the krss
sce,ioa Of ,hi. art Prsrsdsf. ks-vrer- That
shs1ld any Of the said -~vsrai masonic bodies
narp-d in the Frs s<efioa G: shis Sc. s~r-
rxpd<r OF iorfei: It's raasnn,e charter ox ssr-
rant. or frvm any esn~- cease q be reeox-
uised hy ths ozs.sr of free ard servrsei za-
sous. it shall uas thesczfier hs ~utisssd TO any
m said eOrps.,iar. ro< sksli