The Weekly Arizonian., 1870-08-20

be stockholder and qualified to vote fol directors at the election at which he shall be chosen. The directors shall hold theil offices for one year. and until others are elect ed and qualified.
 SEC IL, And be it further enacted, Ina meetings of the stockholders may be called at any time during the interval between the annual meetings, by the directors, or by the stockholders owning not less than one>tourth of the stock, by giving thirty days public notice of the time and place of the meeting; mad when any such meeting Is called by the stockholders, the particular object of such meeting shall be stated in such notice, and
 if at any such meeting thus called majority in value of the stockholders are not repres- ented in persons or by proxy, such meeting shall be adjourned from day to day, not ex- ceeding three days, without transaetlng any business, aud if whithin said three days stockholders having a majority of the stock do not attend such meeting, then the meet ing shall be dissolved.
 SEC 12 And be it further enacted, That at a regular meeting of the stockholders of any such corporation, 1t shall be the dyty ot the president and directors in office for the pre- cediug year to exhibit a clear and distinct statement of the affairs of the said company, aud at any meeting of the stockholders ma jority of those present, in person CT by proxy, mayrequire similar staten rents from the direct> ors, whose duty it shall be to furnish them when required; and at all general meetings of the stockholder ia such company may re- move any president or any director, and elect others in their stead: ProUided, That notice of such intended removal shall have been given as required in the two last preced- ing sections.
 SEC. l3. And be it further enacted, That in case 1t shall happen at any time that an election of directors shall not be made Ou the day designated by the bylaws Of the company when it ought to have beem made, the com pany for that reason shall not be dissolved, if whithin ninety days thereafter they shall hold an election for directors in such manner as shall be provided by the bylaws of the com panY. There shall be president of the con- pauy who shall be chosen by and from the directors, and also such subordinate officers as the company by-lnws may designate, who may be elected or appointed, and required to give such security for the faithful performance of the duties of their offices as the company by its by laws may require: Pr0Uided, That Uo- thing herein contained shall be so construed as to prevent the stockholders from Iemoving a president in the manner prescribed in the preceding ection.
 SEC. l4 And be it further enacted, That it shall be lawful for the directors to call in and demand from the stockholders, respect. ivey any sums of money by them subscribed, in such payments as the directors shall deem proper, under the penalty of forfeiting the
 E..z IL .l,.-l fo. Ill payments made thereon if payment shall not be made by the stockholders within thirty days after personal demand or notice requir~ ing such payment: PrOUided. That sub scriptions shall not be required to be paid except in equal instalments of not more than ten per centum per month.
 SEC. l5. And be it further enacted, That the directors of such company shall have power to make bylaws for the management and disposition of stock, property, and business affairs of such company, and prescribing the duties of the officers, artifcers, and servants that may be employed and for the appoint ment of all the officers for the carrying on all the business within the object and purposes of such company.
 SEC l6. And be it further enacted, That the stock of such company shall be deemed personal estate, and shall be transferable only on the books Of the company but no shares shall be transferable until all previous calls thereon shall have been fully paid or the shares shall have been forfeited for the non- payment of calls thereon.
 SEC. IT. And be it further enacted, That the president and majority of the directors, with- in thirty days after the payment of the last nstalment of the capital stock so fixed and limited by the company, shall make certif- cate stating the amount of capital stock so fix ed and paidiu which certificate shall be signed by the President aud q majority of the direct ors, audsworn to the president andsecretary; aud they shall, within the said thirty days, file and record the same in the office of the regis ter of deeds for the District of Columbia.
 SEC. l8 And he it further enactei that every such company, which shall be certified by majority of the directors, and fled in the office Ofthe register Ofdeeds aforesaid, for the