Daily Mississippi clarion and standard. [volume] (Jackson, Miss.) 1866-1866, 1866-06-07
PUBLIC-No. 81.


sic OF Washington City.
BE It enacted by the Senate and House Of
Representatives Ct the United States Of .lu,ci-
jcd IN Congress assembled, That Max Strak-
osch William G. Pope, Max Maretzek, w
q. Metzerott, Joseph j May B. +. Isher-
wood, John q. Clark, Henry C.. Sherman,
Carl Bergman, and f. G. Adams, or any five
OF them, be, and they are hereby authorized
and empowered to receive subscriptions to
the capital stock Of II company TO be denomi-
mated The Academy of Music of Washing
ton, u. c. who shall open book for that
purpose in the city of Washington, at the
time and place to be by them designated, of
which they shall give five days notice in
two or more OF the daily papers of said city,
aud shall keep the same open until ten thou
sand shares OF fifty dollars share each shall
have been subscribed and any person of
lawful age, and a citizen of the United
States, shall be permitted to subscribe upon
paying hve dollars upon each share at the
time ot subscription. And it shall be lawful
Tor the SAID corporation TO have a common
seal sue and be sued, plead and be implead-
ed, and have and exercise al the rights,
privileges, aud immunites, for the purpose
of the corporation hereby created.
SEC. , Ind BE- it further enacted, That the
affairs of the company shall be managed by
nine directors, to be elected annually by bal
lot on the first Monday i'll October, by the
stockholders or by their legally empowered
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
general meeting of the stockholders con-
vened for that purpose by ten days public
notice III two OF more of tho daily papers of
the city of Washington PrOrided, That the
first election for directors shall be held pur-
suant to ten days notice given in one or
more papers Ofthe city of Washington by the
persons named i'll the first section of this act
or 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 in this act. And 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 Office until the next ensuing elec-
ton as herein provided for, and five members
of said board shall compose n quorum. And
III case that an election for directors should
not be made when pursuant to this act it
should have been made, the company for
that cause shall not be dissolved, and it
shall be lawful within forty days thereafter
TO hold aud make an election for directors i'll
such manner as the bylaws of the company
may prescribe, and the President and direc-
tors for the time being shall be confined in
office until such election take place. And
in the event of death resignation, or re-
moyal of any director from office, his place
for the remainder of his term may he filled
by the President and directors for the time
being, in such manner a. the bylaws may
prescribe.
SEC 3. and BE- it further enacted, That the
presidents and directors shall have power to
appoint secretary and such other officers,
agents, and clerks as may TO them appear
proper, TO fin their compensation and pay
the same.
SEC l. .hdbc HGutbcr enacted, That the
capital stock shall be called in and paid III
such installments and proportions, and al
such times and places, as the president ant
directors for the time being may require anC
designate, who shall give fifteen days notice
thereof in two or more daily papers Of the
city of Washington. And if any stockhOl
ders, subscribers their assignees or trans
tereps shall refuse or neglect to pay sucl
proportions or iustalments, at the time ant
place appointed, such stockholders, sub
scribcr transferee, or assignee shall, ut the
option Of the president and directors, tOrfe
10 the use of the company all his, her, o.
their right, title and interest i'll and to ever.
share on which such instalment has no
been paid and fresh subscriptions may b
opened for the same III such manner as tn
bylaws may prescribe, or the president ant
suit for the same and proceed against TIL
holder of said stock for the amount of tn
iustallment or proportion so unpaid PrOrl
ded That no stakeholder or subscriber shal
be permitted to vote at any election Tor d
rectOrs, or at any general or special meeting
ofthe company, on whose shares any III
stallments or arrearages may be due NOR
than fifteen days previous thereto.
SEC. 5. Ind be further enacted, That tn
,,rasi1put and directors for the time beIu
Shall have power to ordain, establish, all
nut in execution such rules, regulations, OF
din ances and bylaws as they may deeI
essential for the well government of the II
stitution, not contrary to the laws and Coz
stitution of the United States or of this ae
and generally to do and perform all act
matters, and things necessary to carry Ou
the purposes of this corporation.
SEC. 6. Ind be 1t further enacted, That th
president and directors are hereby empowe
ed and fully authorized, on behalf of til
company, to purchase and hold in fee simpl
or lease for term of years, real estate l
the city of Washington sufficient to enab
them to erect thereon building suitable tC
Operatic dramatic, and other entertain
nents, in such manner and upon such term
as NAV be by them deemed for the best Il
terests of the company.
SEC. T. Ind be it further enacted That I'll
said company are hereby authorized to DO
row to an amount not exceeding their caI
tai stock, upon bonds to be issued by sal
company secured upon their property an
franchises: ProCided, That no bond shall
issued for less sum than one hundred dc
lars, and bearing greater rate OF lntere
than seven per centum per annum.
SEC. g. And be it further enacted, That Il
president and directors shall from time
time. divide so much of the profits of sa
company as to them may appear advisabI
first deducting all expenses, and pay Il
same to the respective stockholders, or the
agents duly empowered to receive the sam
SEC. 9. And be it further enacted, That Il
stock of said company shall be transfers.
on the books of the company in such ma
ner only as the bylaws of the company ni'
direct. ,
SEC. TO- .And be it further enacted, Th
notbinO in this act shall be so construed
l...t Con NAV