The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1866-11-15
CHAP. XCVI.
CHAP. XCVI
An Act to incorporate the Academy of Music of
Washington City.

An Act to incorporate the Academy of Music of
Washington City.
Be it enacted by the Senate and House of Rep
resentatives of the United States of America in
Congress assmbled, That Max Strakosch, Will
liam G. Pope, Max Maretzek, w. G. Metzerott
Joseph J. May, B. F. sherwood, John g. Clark,
Henry c. Sherman, Carl Bergman, and F. G..
Adams, ar any five of Them be, and they are here
by, authorized and empowered to receive sub
scrptions to the capital stock of a company to be
denominated The Academy of Music of Wash
ington, D. D., who shall open a 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, and shall keep the same
open until ten 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 be permitted to subscribe upon paw
ing five dollars on each share at the time OF sub
scribing. And it shall be lawful for the said 3or-
poration to have common SEAL sue and be sued
plead and be- implicated, and have and exercise all
the rights. privileges, and immunities, for the
purpose of the corporation hereby created
SEC 2. And be it further enacted, That the af-
fairs of the company shall be managed by nine di-
first Monday of October, by the stockholders or
by their legally empowered agents. and each
share of stock shall enttle the holders thereof to
one vote; the election to be held at the Office of
the company at a general meeting of the stock
holders convened for that purpose by ten DAYS
public notice in two or more of the daily PAPERS
of the city of Washington Provided, That the
first election for directors shall be held pursuant
to ten days notice given in one more papers of
N
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 stock
holders shall then and there elect nine directors
to serve until the next ensuing election as proyi-
ded for in this act And at the first ensuing meet
ing 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 election as herein provided for
and five members of said board shall compose a.
quorum. And in crse that an election for direc-
tors 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 and
make an election for directors in such manner "a
the bylaws of the company NAV 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 or resigna-
place Tor the remainder of his term NAV be filled
by the president and directors for the time be-
ing, in such manner as the bylaws NAV pre-
scribe. ' f
Sec. 8. And be it 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. d. And be it further enacted, That the CAP
ital stock shall be called in and paid in such in
stalments and proportions, ana at such times and
Places as the president and directors for the time
being may require and designate, who shall give
fifteen days notice thereof in two more daily
papers of the city of Washington. And if any
stockholders, subscribers, their assgnees or trans
ferees, shall refuse neglect to pay such proper
lions or instruments, at the time and place appoin-
ted, such stockholders subscriber, transferee, or
assignee SHALL at the option of of the president and
directors, forfeit to the use of the company all
his her, or their right title, and interest in and
TO every share on which such instalement has not
been duly paid; and fresh subscriptions may be
opened for the same, in such manner as the by
laws may prescribe, the president and directors
may at their option commence suit for the same.
and proceed against the holder of said stock for
the amount of the instalment or proportion so.
unpaid: Provided, That stakeholder or sub
scriber shall be permitted to vote at any election
for directors, or at any general special meeting
OF the company, on whose shares any instale,
ments or arrearages may be due more than fifteen
days previous thereto
SEC. 5. And be it further nacted That the
president and directors for the time being shall
have power to ordan, establish, and put in execu-
ton such rules, regulations, ordinances and by-
laws as they may deem essential for the well poy-
eminent of the institution, not contrary to the
laws and Constitution of the United States or of
this act, and generally to do and perform all acts
matters, and things necessary to carry out the
purposes CT this corporation. -
Sec. g. And be it further enacted That the
president and directors hereby empowered
and fully authofized, on behalf of the company to
purchase and hold in fee SIMPLE, or lease for
term of years, real estate in the city of Wasbino
ton sufficient to enable them to erect thereon a
building suitable for operate, dramatic and other