New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-10

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prohibited from doing any act or thing to hlnaer
delay, obstruct the construction or operations Vi
said railway as herein authorized. r,,.. ,.o s,;a
SEC. l8. And be il further enacted. ThaC inc s'.lu
company shall have, at ali times the Tree thu u.l
| terrupttd use of the roadway. And If any person
persons shall wilflly and unnecessarily oostruct
or impede the passage Of or destroy or inJure the
cars, depot, stations, any other property pclohs
ing to sad sMay sb eI%E oIs and for each
such ofense the sum of ten dollars to sald company
10 be recovered and disposed OF as other nles ana
nansl,.es in said city and county, ana snail REMAIN
liable in addition to said penalty for any loss or
| damage occasioned by his: her or theiI ac. as
aforesaid; but no suit shall be brought a'ss eol
menced within sixty days after such ouense s'sah
have been committed.
SEC 49, And be it further enacted, That unless
| said corporation shall make and complete
their s.i railway between west Fifteenth street
aud the eastern terminus of north IA street WITHIN
eight months after the company shai nave oeen
fully organized then this act shall be null ana Vod,
and no rights whatsoever shall be acquired under
it and that the remainder of said road shall be
completed tif cOmmenced) to its proposed terminus
in the county of Washington within i've years
SIC 90 And he it further enacted That 10 per-
part of said road roads Or elected from the cars
thereof, for any other cause than that OF being
drunk, disorderiy, uncIean, contagously diseased
refusing pay the legal fare exactcd, OF to comply
with the general regulations of the company
SEC. IL And be il further enacted. That each Fac
of the stoekh0ders in h the ., Coum5a raw
for all the debts and liabilities of said
company to an amount equal to the amount
SEC. p. And be it further enacted That all the
provisions OF the act incorporating tile Washington
and Georgetown Railroad Company, requiring re-
ports OF expenditures, earnings, and otherwise
shall be applicable 10 the company herein incof
porated. which shall make reports as in said act
SIC g. And be it further enacted. That all acts
and parts OF acts heretofore rassed which are III
consistent with any Of th provisions OF thi5 act be
hereby repealed, so lar Us the same are INCONSISTENT
herewith.
Approved, May "a, 1870.
IPuBLtc No. 69.]
AN ACT to incorporate the National Onion Savings
Bank OF the District of Columbia.
Be it enacted by the Senate and House of Repre-
sentatvcs of the United States OF Amelica in Con-
.rcss assembled. That George II. Plant, William s.
Huntington, Lewis Clephane, H A. Willard, George
w. Adams, $. =. Brown, William Stickney. B. p.
Snyder, A. VI, L. StnrtsHant J.: H. Lathrop'
Robbins, William B. Todd, Edward Simnls
Joseph Casey. James NJ. Latta. Henry Willard,
William II. Philip, Alexander R. Shepherd, William
p Dole Hugh Mctulloch and Mathew g. Emery
hereby created, and their successors and assigns,
shall be- and they are hereby declared to be- body
polite and corporate. by the name and style OF the
the National Savings Bank of the District OF Column
hia and BY that name shall nave ana be
capable in la to and be sued plead and be inn
pleaded and be answered: defend and be de-
Tended, in all courts of law and equity. and oise-
where; to make and TO Use "a common seal aud the
same to alter or renew at pleasure; and generally
10 do and perform all things relative to the object
of this institution. which is now or shall be lawful
for amy individual or body polite or corporate TO DO
SEC O. And bc il further enacted, That the Off
OF said corporation shall consist OF president
and viceplesideut, who. together with seven trts-
tees, shall constitute Il board OF managers, four OF
whom if the president Nicc-presitent be present
shall constitute a legal meeting OF such board for
the transaction of business.
SEC, 3. Aid be il further enacted, That said cor
poration shall meet annually in the month Of April,
and as much oftcner as they may judge eNpcdlelt,
and any seven members of said corporation, the
president, secretary or treasurer being one. shall
be q quorum. and the said corporation at their
annual meeting shall have power TO elect
q president and treasurer, who shall give
bond in the sum OF ten thousand dollars
Tor the faithful discharge of the duties OF his
office and all such other officers as may be deemed
necessary; which officers shall continue in Office
wear and until Others are chosen Ill their stead,
and all officers chosen Shall be under oath TO the
faithful discharge OF the duties OF their offices,
respectively,
SEC. !. And be it further enacted, That said corpo-
ration may receive on deposit for the use ana
benefit Of the dcrosors. all sums OF money offered
fer that purpose. Al such SUMS may be invested
in the stock any bank Incorporated ny Congress,
OF may be loaned interest TO any such bank or
NAV b.. loaned on bonds notes with collateral Sc
culiy of the stock Of such banks al moi more than
ninety per censm of its par value, or they may be
invested At in the public funds OF the United
States Of the several States, or loaned on pledge
OF an, of said funds. or invested in loans on mort
cages o.; real estate Provided. That the Whole
amount of stock held by the institution at time
i'll any enc bank, both by way OF an investment and
surety FOR loans, shall not exceed one-liaf OF
the capital stock OF such bank, and that not more
than thrcc-quarters OF the whole deposited i'll
the institution shall be at any one time invested i'll
mort cages of real estate. The income or interest
OF ali deposits shall I've divided among the dcposi
tors their legal representatives according TO the
terms OF interest stipulae ed; and the principal
NAV he Withdrawn such times III such manner
as the corporation shall in its bylaws direct.
SIC 5. And he it further enacted That 10 Off
Ger. director. or committee charged with the duty
OF investing the deposits shall borrow any portion
thereof, the same, except in pay ment OF the
expenses OF the corporation; and II an! Office
director agent or other person connected with
said bank. and interested with the funds or de-
posts thereof, shall embezze or frindulcntly con
vert the same to his use, he shall I've deemed
guilty of larceny. and shall conviction thereof
by any court competent 10 try the otcnse. be i'm
prsoned III the penitentiary not less than one nor
SIC. g. and be it further enacted, That
tile subordinate officers and agents Of said
corporation shall respectively give such
curity for their fidelity and good conduct as
the board of managers may from time to time re-
quirc, and said hoard shall Tx the salaries Of such
officers and agents.
SEC. :. And be it further enacted, That the per-
sons named IS corporators in the first section of
this act shah he authorized 10 meet and organize
said bank hv the election of one Of their number
as president, 9nd one vice president. and there
upon shall proceed to elect such persons as they
shall select he added to their board of managers,
that the whole number OF trustees, or managers,
including the president and viceprcsdcnt, shall not
SEC. g. And be if further enacted That this
poration shall make an annual report TO Congress OF
their funds and investments. Said returns shall
specify the following particulars, namely: The
number of dcpositors; total amount of deposits;
amount invested in bank stock and deposited in
bank on interest; amount secured by bank stock:
amount invested i'll public funds; loans on security
OF public funds; loans on mortgage OF real esN'tc;
loans on personal securities; amount of cash on
hand: total dividends of the year; annual expenses
OF the institutions; all of which shall be certified
and sworn to by the treasurer; and five or more of
the managers shall also certify and make oath that
the said return is correct according to their best
know ledge and belief.
SEC. 9. And be it further enacted, That the books
of said corporation shall, at all times during their
hours OF business be open for inspection and
animation to the Comptroller OF the Currency
dcpositorS.
SEC. 10. And be it further enacted, That said
por:stion may make bylaws for the more orderly
management of their business, not repugnant 10
law: may have common seal, which they may
change at pleasure that all deeds, grants, cOven
ants, and agreements. made by their treasurer, or
any other person by their authority, shall be good
and Valid and said corporation shall have power to
sue and may he sued, defend and be held to an
sHcr. by the name aforesaid.
SEC. II. And he it further enacted. That the said
corporation shall file a bond, with security, with
the clerk of the supreme court OF the District to he
approved by OF the Judges OF the said court, to
the United States in the penal sum OF two hundred
Thousand dollars, with ii condition to pay ami to
satisfy 20 every deposior person entitled. such
the party may be entitled TO, within thirty
days after such deposit shall be demanded; aud
which bond may be sued by any depositor per
entitled after such demand ard refusal to pay;
and That the said supreme court shall have power
10 require new bond. and new security, at amy
time they may deem it necessary for the interest
of parties interested.
SIC T. And lie il rthcr enacted That Congress
shall, at al times, POSSESS the power 10 alter,
amend. or repeal this act.
Appro',d, May u, 1870
fPKBLLC-S0. .0.I
An ACT 20 incorporate the Trustees rf the Cor
..oran Gallery OF Art and for other ,,.lr,oses
Be- enacted by the Senate ana House OF Repre-
sentotive' Of the Sfitcd state; Of america in Con
Ha:.. George v. Riggs, AHthou, Hide, James q.
BeITCt James G. Kennedy Henry d. tooke.and james
{. McG'liIe. Of the city of Washington, and OF