The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-03-21

ANOTHER PHILADELPHIA INSTITUTION
The following act to incorporate the Philadelphia
Chamber OF Commerce has passed 10 a second
reading, and will shortly be made law by our
State Legislature:-
WhereaS 1t is deemed Advisable and proper to
erect building in the city OF Philadelphia Tor the
purpose OF aitOrdIng accommodations Tor corpora
tons, institutions, and individuals for the promo
hon of the general commercial interests OF said city
Section l. Be il enacted by the Senate and House
OF Representatives OF The Commonwealth of Penn
sylvania III General Assembly met, aud it hereby
enacted by the authority OF the same hat James A.
Wright Henry Budd Alexander q. Catte Howard
HnChman, John II. Kitchener, George l.. BuzbY,
Joseph s Perot Nathan Brooke Christian j, Hod.
man, William Bumm, Conrad s. Grove, Theodore
Wll.on, Louis ID. Baugh, Henry WinsOr, joan
Mason, Jr., Seneca l.. Malone, Samuel Hartrant5,
Charles H wor GummHg aAG o EGwara STer and nd
persons who now or hereafter may be holders of
the STOCK hereinafter mentioned, shall be and they
are hereby declared to be body corporate by he
stvle and title OF The Philadelphia Chamber of Com
merce, have perpetual succession, to be capable in
law Of suing and being sHed, to have common SEAL
and to purchase, take, and hold and by ght, grant,
demlse bargain and sale, and by any other lawful
means. tc acquire and possess saeh real estate a.
may he necessary and proper for the construction of
building 10 be styled the Philadelphia Chamber Of
Commerce, 1or The accommodation and use OF such
corporations, Institutions and individuals, accept
able to the board of directors as may desire to have
apartments therein.
section 2. That the capital stock of the said cor
poraton shall bo two handred thousand dollars
1920 000) which shall be dlVided into two thousand
shares OF one hundred col aTs Sl0Ol each, and tnat
il shah De held MS personal property, and as such
transferable under slch regulations as the corpora
tion shall deem advisable
Section 3. That general meeting OF the stock
holders OF the said corporation shall be held annually
tor the election OF President Treasurer and eight
Managers and for the transaction of other business
the officers elected excepting the lreaspTer) snail
constitute Board of Directors and shall have power
10 fill vacancies that may occur therein, and shall
continue IN office until their successors elected
but II such meeting election shall not take place
at the tlmo appointed, the corporation shall not tor
that be dissolved but such meeting or election
shall take place thereafter as may be practi-
cable: PTOOided, That Que weeks pubic notice
thereof be first gwen in three or more daily news.
papers published IN the city of Philadelphia
Section That the corporation shall have such
powers only as sbal be proper and convenient Tor
the holding, constrHcung using, and beneAclallY
eniOying the property hereubet0re referred TO, and
the income ana proceeds ta0re0f and until other
officers shall be du elected, the persons named in
the first section of this act shah be held TO The
Managers OF the sald corporation, and shall have
poWer and authority as such.
section That at all meetings OF stockholders the
representatyes oil one third OF tho who's amount OF
tbecaptal stock SAID corporation shall constitute
a quorum fer the Transaction Of business, and he
stockholders present either in person or by proxy,
sha be entitled TO one voe for each share of stock
held by them ana they shall have power to enact
by-laws for the government Of the said corporation
fTOVided The said by laas are net repaknant TO OF
Inconsistent with any of the provisions OF this enact
ment the laws Of The United states or or this
Common wealth