Evening star. [volume] (Washington, D.C.) 1854-1972, 1870-05-21
OFFICIAL,
OPTICAL.
LAWS OF the UNITED STATES,
Passed st Second Session Of Forty.nrst Congress

IPuBLIc-No. ST.
AN ACT TO provide for the creation Of corporations
w cpf,nges =, s, ooium1s ey general law
NO person holding stock in such company exc
hodns ss snd sh
81 .neb sSoIeGt 20 any liability as stock kholdcr
thse sse ssS sSss S
liable as stoekhoidsr accordingly; and the estate
TRAITOR susrdisn, trustee shall be liable in like
manner and TO the extent the teststor or in
fund scad s Rsd sses sssS TT
petent TO act and held the stock in his own name
trustee shall repres Mt the stock in his hands at ali
meetings Of the company, and may vote accordnsly
his stock as afoiead sna Psdgs
the same at all suth meetings, and may accord
-. The cckheldcEs Of any company organized under
sn ns Fl Be th set severely.
due and owing to all their labOrers servants, and
ration, and shall be individually liable for ali debts
os said cooperation TO the amount Of the stock of
Ans corporation or company heretofore formed
by special act or under the general law, and now
mercantile, insurance, porfston marketing, or
mechanical purposes, in the District OF Columbia,
may Increase or diminish its capital stock, by COM
plying with the provisions of this act to any amount
purposes OF the corporation and also extend its
business to other manufac. .urins mining or mechan-
of this act. But before any corporaton shall be en-
titled to diminish the amount Of its capital stock, if
such q debts and aSiites soaI
De satlshed and reduced so not to exceed such
diminished amount of capital; and any existing com
~ tS toTmed may come under and avail
complying with the following provisions, and there
shall be subject to ali the restrictions dnties and
liabilities of this act. "D"
ing Of the stockhoders for the pnrpose ot araine
itself Of the privileges of this act Or for increasing
extending or changing its business, it shall be the
duty OF the trustees directors to publish notice
District Of Columbia at least three succes}ye wets sa e
and to deposit notice thereof in the post office
residence, at least three weeks previous to the day
nht nSed upon ITO for hoiding such meelng specifying the
and where such meeting shall be held; and vote OF
necessary to an increase dminuton Of the amount
6i us capital stock or the extepsion or change of its
itself Of the provisions OF this act. " "'"''
at any time and place specified in the notice
shall appear by proxy in person representing not
less than two thirds Of all the shares of stock Of
corporation, they shall organize aAd proceed to a
on canyassing the votes, Il shall appear that saf
diminishing the amount of capital. or extending or
changing its business as aforesaid for availing
Ilsei OF the privileges and provisions Of this act,
certlhSate OF the proceedings, showing compliance
with The PROVISIONS Of this act the Of capitI
or changed the whole amount of debts and Iiabili-
~ which la
capital stock shall be increased diminished shall
be made out, signed and verified by the affidavit of
tarV and such certificate shall be acknowledged by
me chairman and filed as required by the first sec
OF such corporation shall be increased or DUNN
lshed to the amount specified in such certificate,
and the com pany shall be entitled TO the privileges
ana provisions, and be subject to the liabilities of
If the Indebtedness OF any company organized
under this act shall at any time exceed the amount
capital of SIlch
asserting thereto shall be personally and individu-
ally liable for such excess to the creditors Of the
No stakeholder shall be personally liable for the
formed under this act which is not paid within one
year from the time the debt becomes due, unless a
suit for the collection Of such debt shall be brought
sganst such company within year after the debt
became due; and no suit snail he brought against
in any such company, for any debt contracted by
said company, unless the same shall be commenced
within two from the time he shall have ce. se
TO be stockholder, nor until an execution against
me company shall have been returned unsaistied in
Il shall be the duty Of the trustees OF every corpo
hha'Lon I1Iined under TINS act to cause book TO
tanning the names OF all persons, alph ,betcslly
stockholders of such company, and showing their
place of residence, the number of shares OF stock
came owners such shares and the amount Of stock
actually paid in which book shall during the usual
open for Inspection OF stockholders and creditors Of
the com pany, and their personal representatives. at
ae % e SaRss WSsTs Of f, such
operations shall be located and any and every such
steckholder, creditor or representative shall have
right to make extracts from such books, and
no transfer Of stock shall be valid tor any
purpose whatsoever, except to render the per-
son TO whom IL shall be transferred liable for
the debts Of the company, according to the pro
visions Of this act, until il shall have been m
tered therein, as required by this section, 10y an
entry showing to and from whom transferred
such book shall be presumptve evidence of the facts
therein stated in favor of the plant any suit or
proceeding against such company, against any one
or more ckholders. Every officer or agent Of such
company who shall neglect to make any proper
entry in such book. shall refuse or neglect to ex
hibit the same, or TO allow the ins pected
and extracts to be taken therefrOm as herenbefore
provided, shall be deemed guilty Of a misdemeanor
and the company shall pay to the party injured
penalty OF fifty dollars for any such neglect or refu
SAL and all damages resulting therefrom and every
company that shall neglect to keep such book open
ior inspection as Aforesaid shall forfeit TO the United
States the sum of fifty dollars for every day il shall
80 neglect 20 be sued for and the name
o the people, In the supreme court the District of
Columbia. and when 50 recovered the amount shall
be paid into the treasury of said District Columbia
for the use thereof.
ITO be cOHtinH,dI