The Albany register. [volume] (Albany, Or.) 1868-18??, 1869-06-12
Approved, March Is. 1869.


person or officer to enforce or attempt to
enforce such limitation after the passage
Of this act.
Approved, March Is, 1869.
No. An Act to incorporate the Ma
tioIal junction Railway Company
Be It enacted By the Senats and House Of Rep
resentatires of the United States Of America
an Congress assembled,
That James \. Magruder, John l.. Kid
well. C. II. Cragin. John W. Thompson,
Hallet Kilbourn, Alexander r. Shepard,
and William Ii. Tenney, of the District
of Columbia, together with such other
persons as may become associated with
them for that purpose, together with their
successors. are hereby created and erect
ed into body corporate and polite, in
deed and in law, by the name and title of
the National Junction Railway Company,
and by that name have perpetual success
sion. and shall be able to sue and to be
sued. to plead and be impleaded, to de-
fend and be defended, in the courts of law
and equity within the District of Column
bia. and may use a common seal, and
may adopt bylaws for the regulation of
its government.
Sec. 2. And be 1t further enacted,
| That the said corporation is hereby fully
authorized and empowered to survey To-
cate, lay out, construct collect tolls upon,
maintain. and enjoy railway line, with
appurteuances and machinery necessary
for one or more tracks within the District
of Columbia, commencing at the northern
terminus of the aqueduct bridge, in the
city of Georgetown, or at some eligible
point on the south shore of the Potomac
river above and near said bridge thence
in northeasterly direction by the most
feasible route crossing Rock creek. enter
ing the city of Washington. and passing
through either S, I, or Z street 1cest
[north,1 around the city of Washington,
crossing the branches of the city, in such
a manner as not to be dangerous to pas
sengers ana trains on either road thence
TO a point most feasible on the Potomac
river, or Eastern branch of the same, at
or near the navy yard. at point to be
indicated by the Secretary of the Navy,
with the rights. powers. and privileges to
construct the said road. the grades of the
road to be approved by the authorities of
the cities of Washington and Georgetown :;
also the privileges of locating and con-
slructing a grand Union depot on the
line of the said road, at some point be-
tween Third street west and Fourteenth
street west, in Washington city; also a
similar depot at some convenient point in
Georgetown, near the said aqueduct
Sec. 8. And be at further enacted,
That the capital stock Of said National
junction railway shall consist of FIVE
thousand shares of one hundred dollars
each, which shall in all respects be deem
ed personal property, and shall be trans
ferable in such manner as the bylaws of
said company shall provide.
Sec. A. Ana be IL further enacted,
That it shall be lawful for the said Nation
al junction Railway Company, if deemed
necessary. to borrow from time to time
sums of money not exceeding five hum
| dred thousand dollars, and to issue bonds
therefor, bearing interest not exceeding
seven per centum. payable semi-annually
and to mortgage as security therefor all
the corporate rights, franchises. property.
! real and personal, of whatever kind So
| ever, belonging to said company.
Sec. 5. Aad be AZ further enacted,
| That the persons herein named as corpo-
rators. or a majority of them, shall, with
| in ninety days after the passage and ap-
proyal of this act, meet in the city of
| Washington for the purpose of prescrib-
| ing regulations for opening books Of sub
| scription TO said capital stock. at such
| times and place as they may designate
| by public notice of at least ten days in
two daily papers in the city of Washing
ton and said books shall be kept open
until two hundred thousand dollars of
said stock shall be subscribed, and twenty
per eentum on all subscriptions shall be
paid in lawful money at the time of sub
scribing. to the person or persons
| authorized by the corporators to receive
the same and whenever that amount
shall have been subscribed. and twenty
| per centum of the same paid in as above
described, it shall be the duty of the above
| named corporators Ga majority of them
shall constitute quorum for the transac-
/ ton OF business) to call a meeting of the
stockholders, at the city of Washington,
| for the purpose of electing directors of
| the said corporation, ard each share of
said stock on which the said twenty per
centum has been paid as hereinbefore
provided shall entitle the owner to one
vote. The corporators herein named shall
designate a majority of their number to
act as inspectors of elections which ma
Jority OF inspectors SO designated shall
certify, under their names, the directors
thus duly elected, and shall notify them
of their election and the time and place of
the first meeting of the said board of di-
rectors. AT such meeting the above cor
porators shall deliver to the said directors
the books of subscription to the stock OF
said National junction Railway Company
together with the amount paid thereon
with a full report of their proceedings un-
der this act, and thereupon the duties oil
the corporators hereinbefore named shall
cease and determine forever; and there
after the said directors, with their success
sors or assigns. shall constitute the said
body polite and corporate. The direc.
tors thus chosen shall hold their office for
one year and until others are elected and
qualified to fill their places. A majority
of said directors shall constitute a quorum
for the transaction of business.
/ Sec. 6. And be At further enacted
That the said directors shall, at their first
meeting. elect from their own number a
president and vice-president. They mag
also, from time 10 time, elect treasurer
a secretary chief engineer. and genera
superintendent. together with such Other
officers, agents, and employees as they
may deem necessary, each of whom shal
hold Office or position during the pleasure
of said board of directors. The directors
shall have power to fill all vacancies ir
the board which may be caused by deatf
or resignation, except as hereinbefort
provided for. The treasurer and secreta
ry shall give bonds with security. as tht
board shall from time to lime require
Il 49,. lave Of II