Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1865-03-23


Representatives of the United States of Amer |
lea In Congress assembled, That James Har- |
per, Thomas Patton. c. Fl. Moody, John W. |
Magill, John NJ. Reilly. B. +. Guy, Valentine |
Blanchard, Thomas j. Fisher, Hudson Taylor, |
Augustus +. Perry, d. Walker, James Mont. |
gomery. Joseph J. May, or any five of them. |
be, and they are hereby, authorized and em. |
powered to receive subscriptions To the capital
stock of company to be denominated 1.-The |
National Union Insurance Company of Wash. |
ington," who shall open book for that pur. |
pose in the city of Washington, at the time |
and place to be by them designated. of which |
they shall give ten days notice in two or more |
Of the daily papers of said city, and shall
keep the same open until twenty thousand
shares of fifty dollars a share each shall have
been subscribed; and any person of lawful
age, and citizen of the United States, shall
he permitted to subscribe upon paying five
dollars on each share at the time of subscrib-
ing. And it shall be lawful for the said cor
poration to have common seal, sue and be
sued, plead and be impleaded, and have and
exercise all tho rights, privileges, and immu-
mites for the purposes of the corporation here
by created
Sec 2. Ind be il further enacted, That
the affairs of the company shall be managed
by nine directors to be elected annually by
ballot on the second Monday Of July by the
agents and each share of stock shall entitle
the holder thereof to one vote the election
to be held at the Office of the company at a
general meeting of the stockholders convened
for that purpose, by ten days public notice i'm
two or more of the daily papers of the city of
Washington ProsIded, That the first election
for directors shall be held pursuant to ten
days notice given in one or more of the daily
papers of the city of Washington by the per-
,~.,l s..,t &c
any five of them. who shall designate the
time when and the place where said election
shall be held and the stockholders shall then
and there elect nine directors to serve until
the next ensuing election as provided for i'm
this act. Aud at the first ensuing meeting of
the directors after every election, they shall
appoint one of their number as president,
who together with themselves, shall hold Of
flee until the next ensuing election, as herein
provided for i; and five members of said board
shall compose a quorum. And in case that an
election for directors should not be made when
pursuant to this act 1t should have been made
the company for that cause shall not be dissol-
we'd and it shall be lawful, within forty days
thereafter, to hold and make an election for
directors in such manner as the bylaws of the
company may prescribe, and the president and
directors for the time being shall be continued
in Office, until such election take place. And
in the event of death, resignation, or removal
Of any director from Office, his place for the
remainder of his term may be filled by the
president and directors for the time being, in
such manner as the bylaws may prescribe.
Sec. 8. And be IL further enacted, That the
president and directors shall have power to ap-
point secretary and such other officers, agents,
and clerks as may to them appear proper, to
fix their compensation and pay the same.
Sec 4. And be il further enaeted. That the
capital stock shall be called in and paid in
such instalments and proportions, and at such
times and place, as the president aud directors
for the time being may require and designate,
who shall give fifteen days notice thereof in
two or more daily papers of the city of Wash
| ington. And if any stockholder, subscriber,
their assignee or transferee, shall refuse or neg
lect to pay such proportion or instalment, at
the time and place appointed, such stockhold-
er, subscriber, transferee, or assignee SHALL at
the option of the president and directors, for
| felt TO the use of the company all his, her, or
their right, title, and interest in and to every
share on which such instalment has not been
duly made; and fresh subscriptions may be
opened for tho same, in such manner as the
bylaws may prescribe, or the president and
directors may, at their option, commence suit
for the same and recover against the holder of
said stock for the amount of the instalment or
proportion SO unpaid: Prorided, That no
StOckholder or subscriber shall be permitted TO
vote at any election for directors, or ut any
general or special meeting of the company, on
| whose shares any instalments or arrearages
may be due more than fifteen days previous
thereto. t
Sec 5. .4nd be IL further enacted, That the
president and directors for the time being
shall have power to obtain, establish, and put
in execution such rules, regulations, ordinan-
ces. and bylaws as they may deem essential
for the well government Of the institution,
! n 1t contrary to tho laws and Constitution ot