Delaware State journal and statesman., 1864-05-03


heinhers OF the said corporation, bat shall de.
eeena 10 their successors, duly elected and ap-
polhleu IN the manner hereinafter declared by
1ne bodles they represent, for the promotion Of
the principles Of the said corporation, and the
benevolent purposes Of the Order of Free and
accepted Aasons, which they represent: Pro-
otueu' lhat sald corporation shall take and mold
II" lhore land than is necessary for a site on
which TO erect Masonic Hall, suitable and con-
venient for the transaction of the business of the
ASSOCIATION and the promotion of the principles
and purposes aforesaid. But this provision shall
not prevent the said corporation from construct
ing suitable rooms and offices in connexlon with
the said hall to rent, and renting the same, and
receiving rent therefor to be applied to the pro-
motlon OF the principles and purposes aforesaid.
Sec. q. AHd be IL further enacted. That the
capital stock of said corporation shall not exceed
the sum OF three hundred thousand dollars, and
that the stock shall be divided into shares Of
twenty dollars each and shall be deemed per-
sonal property, transferable in such manner as
the constitution and bylaws of said corporation
may direct.
Sec 4. And be il further enacted, That within
twenty days after the passage Of this act the
corporators named in the FIST section or ma
Jorty OF tbem or If any refuse or neglect to act,
then majority of the remainder, shall cause
books OF subscription to the capital stock Of the
said corporation to be opened and kept open in
such place and for period to be fixed by said
corporators, or majority of them, public notice
OF winch may be given by advertisement or
Otherwise as said oOrporAfOrs or a majority Of
them mny determine and subscribers upon said
books to the capital stock of the corporation
shall be held to be stockholders; Provided, That
every subscriber shall pay, at the time of sub
scrlblng, euch per centum of the amount by him
subscribed to the treasurer elected or appointed
DV the COrDOratOrA n mafnrifu nf
may be required by said corpurators OF majori-
" OF them, or his subscription shall be null aud
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 majority of them, and in case any Of them
refuse or a. glect to act, then majority of the
remainder, shall, within twenty days thereafter,
call the hrst meeting oil 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 news
papers published daily in Washington city, or by
written personal notice served on each stock
holder, by the secretary or 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.
Sec. b. ARd be IL further enacted That the
government and direction of the affairs of the
corporators shall be invested in board of direc-
tors, five in number, elected by the stockholders
on the first Monday of December in each year
from among the c1rporators named in the first
section Of this act and their successors, elected
or appointed in the manner hereinafter declared
by the masonic bodies they represent, who shall
hold their office for one year aud until others are
duly elected and qualified to take their places as
directors ; and the said directors shall elect one
of their number to be president of the board,
who shall also be president of the corporation,
and shall elect secretary from among their own
number, or from the corporation aforesaid, who
shall also be secretary of the corporation, and
they shall also choose treasurer, who shall give
bonds with surety to said corporation, 10 such
sum as the said directors may require, for the
faithful discharge of his trust. majority of
the directors snsll form quorum for the trans
action of business, and in case of a vacancy in
the board of directors by the death. resignston,
or otherwise, OF any director, the vacancy occa-
stoned thereby shall be filed by the remaining
directors from among the corpurators named in
the irst section of this act, or their successors
duly elected or appointed in the manner herein
after declared by the masonic bodies they repre-
sent.
sec 6 And be IL further enaetsd That the
directors shall have full power to make and pre-
scribe such bylaws, rules, aud regulations as
they shall deem neediul and proper for tue dis
position and management of the stock, property,
estate, aud effects Of the corporation, not CON
trary to the charter or TO the laws of the United
States and the ordinances of Washington city,
and shall have power to alter or amend the same
as the interests OF the corporation in their opin-
ion, may require. And the SAID directors shall
have power 10 regulate the payment of interest
upon the certihcates OF stock held by the stock
holders, or to the dividends that may accrue, and
shall have power to provide for the redemption
oil the stock held by individuals, upon fair and
equitable terms:
See, Z, Ana be il further enacted, That each
masonic body or organization named in the first
section Of this act, shall he entitled, during the
month of November, eighteen hundred aud sixty
four, aud annually thereafter to meet aud select
by ballot, one of it's members as a successor TO
the person then, or last, representing it as
member of this corporation, whose annual term
expires next thereafter, or which may have exc
pred next before that time, so that said cor
poration shall forever consist of one cOrporator
from each Of the said masonic bodies named in
the first section of this act: Provided, hoDever
That should any OF the said several masonic
bodies, named in the first section Of this act,
surrender or forfeit its masonic charter or war
rant, or from any cause cease to be recognized
by the Order OF Fee aud Acceptel Masons, it
shall not thereafter be entitled to any represen-
tatOn in said co poraton, nor shall the continued
corporate existence and rights Of this association
Ue III any wise aht oted thereby 80 long as there
remain 1--WE corpofaIos qualified TO act as such.
Sec 8. Aad be n further enacted, That auy
masonic lougp, chapter, council, commaudery,
or consislory now in existence or that may here
after be instituted in the District Of Columbia,
may, by and with the consent of two. thirds of
the corporators named in the first section, or
their successors, be admitted to a representa-
tiou in said corporation upon an equal footing
with the several masonic bodies named in the
first section Of this act.
Sec. 8. And be il further enacted That this act
may be altered, amended, or repealed, at the
pleasure of the Congress OF the United States Of
Amnricn IAnnrnred Anril 2R 1894