Nebraska advertiser., 1867-01-17

shall designate the time when and the paso where
said s~lsotioa shalI be held aud the stsekholdsrs
shall then aud there sioct nine directors 20 serve
until the next ensuing election and until their sue
eessors shall be duly elected and qualified IS pro-
vided for in this act. And at the frst ensuing
meeting Of the directors sfteF every election they
shall appoint Que Of their number IS president,
who shall hold Office untiLthe eieetion and qualid-
eatiou Of his successor. And Eve members Of said
board shall compeae q quorum, And in case that
an election fer directors should not de made when
pursuant to this acs IL should have deem made, the
company for that cause shall not be dissolVsp
and it shall be lawful within forty days thereafter
to bold and make an election for directors ia such
mrnner as the bylaws OF the company May pre-
scribe, and the president and directors fer tho time
being shall be continued in once until such election
tcke place. And in the event ofdeath resignation,
or removal Of any director frOm Office, his place for
the remainder Of his term may be fllOd BY the
president and directors for the time being, IA such
manner as the bylaws may prescribe.
Sec. 3. And be it further enacted, That the
president anb directors shall have power to appoint
a secretary and such Ohter officers, agents, and clerks
as may to them appear proper, to tx their eompen-
satisu, ard paKtae same.
Sec. 8. And be it further enacted, That the cap
itol stock shall be called in and paid in sach in
stallments and proportions, and ct such times aud
places, as the president and directors, for ihe time
being, may redpire and designate. And If any
STOCKHOLDERS, subscriber their assignee or transfers.
Shall ISIuSt VI uekAcCb a Jay 5uCQ pEopOEhAOG VI III
stalmsnt &C the time and place appointed, such
stockholders, Subscribers, transferse, or assignee
shall, at the optien oe the president and directors,
forfeit to the use of the company all his, her, or their
right, title, and interest in and to eS very share on
which such inTtalments have not been duly paid
and fresh subscriptions may be oyened for the said
shares in such manner IS the bylaws may pre-
SC ribe or the president aud directors may, az II cir
option, suit for any instalment that may
be due and unpaid, and recover against the holder
Of said stock for the amount Of tire ssme: Provi-
ded, Thrt no stakeholder or subscriber shall be
permitted to vote at any election for directors OF
at any general or special nesting Of the company,
on who's shares any instruments or RrrearsngQos
may be due more than fifteen days previous thereto:
Sec. 5. And be it further enacted, That the
president and directors for the time beidg shall
have power to Ordain, establish, and put ia execu-
tiOn speh rules, regulations, ordinances, and by
laws az they may deem essential for the Well-gOv-
eminent Of the institution, not contrary to the
laws and Constitution of the United States or Of
any State, or of this act, and generally to do and
perform all acts, matters, and things which a cor
pOratiOn may OF can lawfully do.
Sec. o. And DO II further enacted, That the
president and directors are hereby empowered and
fully authorized, en- behalf Of said company, to
c AIRY on the business Of mining for iron ore and
other native minerals, and manufacturing and
preparing the same for market and to purchase
and hold by deed for a term CT in fee simple such
real estate and other properly within the District
Of Columbia snd State of Virginia as may be neo-
sssary and proper tor the purposes aforesaid and
to issue bonds not exceeding one half Of the cap
ital stock, upon such terms as may be deemed for
the best interests Of the company Provided, That
no bond shall be issued for q less sum than one
hundred dollars, or bearing interest st 3 rate ex-
six per centum pes annnm,
Sec. z. And be it further enacted, That the
p~residant and directors are hereby empowered aud
fully authorized. on behalf Of said company, to
lease, demise, bargain, sell, and convey Spy lands
and real estate which may be owned or held by
said company, and TO execute and deliver to pur-
ehasers good and suficientdseds thereof.
Sec. 8. And be il further enacted, That the
stock Of said company shall be transferred on the
books Of the company in such manner only as the
bylaws of the company shall diract.
Sec. 9. And be itfurther enacted, That nothing
in this act shall be so constructed as making il
Derpssual,but Congress may at any time alter,
Imend, or repeal the same.
Approved, July %, 1856.