The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1867-02-10
OFFICIAL.
LAWS OR THE UNITED STATES,
Passed at the First Session of the Tairty-Ninth
Congress.
CHAP. CCXvIII-AN ACT to incorporate tn,
Metropolitan Mining and Manufacturing Con

CHAP. CCXvIII-.AN ACT to incorporate the
Metropolitan Mining and Manufacturing Com
pany.
sentaiives of the United States of America in Con-
gress assembled, That John Ford, George ID. Will
lams Thomas w. hyde. Oliver Edwards, Charles
II Herd, Samuel A. Fulton Chnrels Otis, Charles
A. Eceston George w. Holmes, Joseph X. Hollis,
John f. Broanhead and Lewis p. Moody, or any
five of them be, and are hereby authorized and en-
nowered to receive subscriptions to the capital
stock of corporation 60 be nOmina cd the Metro.
poitan Mining and Manufacturing Company OF the
District of lumbia who shall open book for that
purpose in the city Of Washington, at the time and
pace TO be by them designated, OF which they shall
give five days notice In two or more Of the daily
papers ofsisd city, and shall keep the same open
until twenty thousand shares of one hundred dol
lars share each shall have been subscribed and
any person Of lawful age and citizen Of the Uni
ted States, shall be permitted to subscribe upon
paving five dollars on each share at the time Of
subscribing And it shall be lawful fOr the So d
corporation 30 have common seal, cue anu be
sued, plead and be implicated and have and exer-
else all the rights, privileges and immunties FOR
the purpose of tho corporation hereby created.
Sec. g And be 1t further enacted, That the a.
fairs of the company shall be managed by nine oil
rectors to be elected annually by ballot on the sec
ond Monday OF July. by the stockholders or by
their legally empowered agents; and each share OF
stock shall entite the holder thereof 10 one vote
the election to be hell 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 Washing
ton by the persona nHtneu III inc HTht beCIlOu VI
this act or my five of them, who shall designate
the time when and the place where said election
shall be held, and the stockholders shall then aud
there elect nine directors to serve until the next
ensuing election and until their sucr essors shall be
duly elected and qualified as provided for in this
act. And at the first ensuing meeting O. the di-
rectora after every election they shall appoint one
Of their number as president who shall hold Office
until the ectOn aud qualification of his successor
And five members of said board shall conn. SO q
quorum And in case that an election for direc
ora shOnl1 ba fnn1a when pursuant to This act
IL should have been made, the company for that
cause shall not he dissolved and IL shall be lawful
within forty days thereafter to hold and make an
election for directors in such manner as the
of the company may prescribe, and tho president
and directors for the time being shall be continued
in Office until such ecton take place. And In the
event Of he DEATH resignation, or removal of any
director from office, his place for the remainder oil
his term may be fill cd by the president and direc
tors for the time bring, in such manner as the by
laws may pres ribe.
Sec g. And be it further enacted That the pre-
sident and directors shall have power to appoint
secretary and such other officers agents and clerks
sati0n and pay the same
Sec L. And be it further enacted, That the capt.
tai stock shall be called in and paid in such install
ments and proportions and at such times
places, the pre.ilent and drec ors, for the tim
being, may require AID designate. And If any
stockhoder, subscriber their assignee or trans
or instament ot the tii5 aid 3a6S sP 6nr t28orie
stockhoder, subscriber ttansieree assignee shall
at the option of the president and directors forfeit
TO the nse OF the company oil his her or their
right title, and interest in and 10 every share on
which such ms ailments have not been duly paid !
and fresh subscriptions may be opened for the said
shares in such manner us the bylaws maytprescribe
the president and directors may at their option,
commence suit for any instalment that may BIO dine
sand unpaid and recover against the holder of said
stock for the amount of the same; Provided. That
no stakeholder or subscriber shall be permitted to
vote at any election for directors at any general
or special meeting of the company, on whose shares
any instalments or arroarages may be due more
than fifteen days previous thereto.
Sec s. And be 1t further enacted, That the
president and directors Tor the time being shall
have power % ordaiD establish, and put in execu-
tion such rules regulations, ordinances and by
laws as they NAV deem essential for the v ell-gov-
eminent of the institution not contrary to the laws
end Constitution of the United States or of any
State, or Of this act. and generally e do and per
tion may can lawfully do.
Sec, g. And be it fuI ther enacted, That the pre-.
sident and directors arc hereby empowered and
fully authorized behalf of said company, TO car
ry the business of mining for iron and other
native minerals, and manufacturing and preparing
the same for market; and to purchase and hold by
deed for term in fee simple such real estate and
other property within the District Of Columbia and
State Of Virginia as may DO necessary and proper
for the purposes aforesaid; and to issne honda not
exceeding one.half of the capital stock, upon such
terms may be deemed for the best interests OF the
company Provided, That no bond shall he issued
for less sum than one hundred dollars or bearing
interest at rate exceeding six per centum per
mum.
Sec I. And be 1t further enacted, That the
president 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 he owned or held by said
company, and to execute and deliver to purchasers
good and sufficient deeds therefor.
SEQ 8. And be it further enacted That the stock
# said company shall be transferred on the books
IF the company in such manner only as the bylaws
IF the company shall direct.
Sec y. And be II further enacted That the moth.
ng in this act shall be 50 construed as making it
perpetual, but Congress may at any time alter,
mend or repeal the same
Annrova1 ,Iulv Ir6g