The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1867-02-23

al expenses of the county of Washington or
Georgetown is liable for, to enable the said court
to demand of either OF said cities payment of its
proportion of said expenses already incurred, or
for the supreme court of the District of Colum
bia to act summarily in the matter and give judy
ment, according to the provisions of the act of
July one, eighteen hundred and twelve, entitled
" An act comforting certain powers the levy
court for the county of Washington, in the Dis
trct of Columbia.'
Approved July %, 1866.
CHAP CCXVIII.
An Act to incorporate the Metropolitan Mining
and Manufacturing Company.
Be it enacted by the Senate and House of Rep
rcsentatves of the United States of America in
Congress assembled, That John Ford George D.
Williams. Thomas w. Hyde, Oliver Edwards
Charles H. Herd Samuel A. Fulton, Charles Otis
Charles a. Ecleston, George w. Holmes, Joseph
E. Hollis, John F. Broadhead, and Lewis P
Moody, or any five of them, be, and are hereby,
authorized and empowered to receive subscrip-
tions to the capital stock of corporation to be
dcnominated the Metropolitan Mining and Manu-
featuring Company OF the District Of Columbia,
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, and shall keep the same open until
twenty thou. and shares of one hundred dollars
share each shall have been subscribed and any
person of lawful age and citizen of the United
States, shall be permitted to subscribe upon pay
ing five dollars on each share at the time of sub
scribing. And it shall be lawful for the said
poration to have common seal, sue and be sued,
plead and be implicated, and have an exercise all
the rights, privileges, and immuntcs for the pur-
pose of the corporation hereby created
Sec. 3 And be it further enacted, That the af-
fairs of the company shall be managed by nine
directors, to be elected annually by ballot on the
second Monday of July, by the stockholders or
by their legally empowered agents; and each
share of stock shall enttlo the holder thereof to
one vote; the election to be held at the office of
the company at general meeting of the stock
holders convened for that purpose, by ten days
public notice in two more of the daily papers
of the city of WashngtOn: Provided That the
first election for directors shall be held pursuant
to five days notice given in one more of the
daily papers OF the city of Washington, by the
persons named in 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 until the next ensu-
ing election and until their successors shall be du-
ly elected and qualified provided for in this act
An at the first ensuing meeting of the directors
after every election they shall appoint one of their
number president, who shall hold Office until
the election and qualification of his successor -
And five members of said board shall compose a
quorum. And in case that election for drec-
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 rs
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 i'll the event of the death, reSig-
nation, or removal of any director from office,
his place for the remainder Of Ills term may be fill
led by the president and directors for the time
being, in such manner as the bylaws may pre-
scribe.
Sec. 5. And be it further enacted That the pre-
sident and directors shall have power to appoint
secretary and such other officers, agents, and
clerks may to them appear proper, to fix their
compensation, and pay the same.
Sec. 4. And be it further enacted, That the cap
II %-a1-.l hall hoe 1l,J
stalments and proportions, and at such times and
places the president and directors Tor the time
being, may require and designate. And if any
stockholder, subscriber, their assignee or trans
fierce, shall refuse neglect to pay such proper
tion or instalment at the time and place appon-
ted, such stockhOlder subscriber, transferee or
assignee shall, at the option of the president and
directors forfeit to the use of the company all
his, her, their right, title and interest in and
to every share on which such instalments have
not been duly paid and fresh subscriptions may
be opened for the said shares in such manner as
the bylaws may prescribe, or the president and
directors may, at their option, commence suit for
any instalment that may be due and unpaid, and
recover against the holder of said stock for the
amount the same: Provided, That no stock
holder subscriber shall be permitted to vote at
any election for directors or at any general OF spe
cial meeting of the company, on whose shares any
instruments or a rearages may be due more than
fifteen days previous thereto.
Sec. 5. And be it further enacted, That the pre-
sident and directors for the time being shall have
power to ordan establish, and put in execution
such rules, regulations, ordinances, and bylaws
as ihey may deem essential for the we'll, overn-
ment of the institution, not contrary to the laws
and Constitution of the United States of any
State, of this act, and generally to do and per-
form all acts, matters, and things which corpor
alton may or can lawfully do.
Sec. 6. And be it further enacted, That the pre-
sident and directors are hereby empowered and
fully authorized, on behalf of said company, to
carry on the business of mining for iron ore and
other native minerals and manufacturing and pre-
pairing the same for market; and to purchase and
hold by deed for 4 term in fee simple such real
estate and other property within the District of
Columbia and State of Virginia as may be neces-
sary and proper for the purposes Aforesaid; and
to issue bonds not exceeding one half of the CAPT
tai stock, upon such terms as may be deemed for
the best interests of the company: Provided,
That no bond shall be issued for less sum than
one hundred dollars, or bearing interest at rate
exceeding six per ccntum per annum.
Sec z. And be it further enacted, That the pre-
sidcnt and directors are hereby empowered and
fully authorized, on behalf of said company, to
lease, demise bargain, sell, and convey any lands
and real estate which may be owned or held by
said company, and to execute and deliver to pur
chascrs good and sufficient deeds therefor.
Sec 8. And be it 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 direct.
Sec 8. And be it further enacted, That moth
in this act shall be so construed as making it per-
petual, but Congress may at any time alter,
amend, or repeal the same.
Approved, Suly %, 1866