New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-20
[PUBLIC-NO. 1851

AN ACT to incorporate the National BOliv-
ian Navigation Company.
Be it enacted by the Senate and House of
Representatives of the United States of
America in Congress assembled, That
George E. Church. William H. Reynolds,
Jerome b. Chaffee, s. L. M. Barlow, James
s. Mackie, Charles A. Lambard, and George
+. Wilson, and such other persons as may
be associated with them and their success
sors, are created body polite and corpor-
ate by the name, style, and title of the Ma
tionaI Bolivian Navigation Company, and
by that name shall have perpetual success
sion, and shall be able to sue and be sued,
plead and be implicated, defend and be de-
Tended III all courts of law and equity
within the United States, and may make
and have a common seal And the said
corporation shall have power to own,
sell, build, purchase. mortgage,
employ the same i'll navigation between the
United States and the ports of South Aineri-
ca, or upon the rivers and navigabie waters
of Bolivia and Brazil, and may hold such
real and personal property of every kind as
may be necessary or useful in connection
with the said business, and may, under au-
thOrity of the Peruvian and Bolivian gov
ernments, engage in public works connected
with such transportation, or which may be-
come necessary in order to develop the
same in, upon, or near the said rivers, and
for that purpose may issue its bonds or
other obligations secured by pledge of its
property and franchises Provided, that
the United States shall not be responsible
Tor loss or damage resulting from the trans
Poftatlon OF property to, or Investment
mace IN, any foreign country.
SEC. =. And he it further enacted That
tne capital stock of the said corporation
snail De one million of dollars, to be divided
INTO snares OF one hundred dollars each, and
said shares of stock shall he nersonaI prom
erty transferable on the books of the com
pany only; and said capital stock NAV he in
creased from time to time. as NAV be neces-
sary, for the general purposes of said com
pany.
Sec 3. And be it further enacted That
the said company shall have power tn make
such bylaws as it deems proper for the
disposition of the property and estate Of the
company, the management of its business
and affairs, the term of Office and duties Of
its officers and servants, and to carry ont
the general objects of the corporation and
to amend or to repeal the same at pleasure.
provided, That such bylaws shall not con,
tiict with any law of the United States
Sec. 4. And be it further enacted, That
the stock, property, and affairs of the said
corporation shall be managed by board
consisting OF not more than nine nor less
than five directors, and they may appoint
president and such other officers, and en-
plOy such agents, as they deem proper.
SEC. 5. And be it further enacted, That
the corpOratOrs named in this act shall be
the directors for the first year from the or
ganizatiOn of the company, and thereafter
annual elections of directors by the stock
holders shall be held, at meetings to be
called for that purpose, at which each share
OF stock present, in person or by proxy.
shall be entitled to one vote, and majority
OF the stock thus represented shall elect.
SEC. 6. And be it further enacted, That
this act shall take effect Immediately.
SEC. Z. And be it further enacted, That
the principal Office of the company shall be
located in the city of New York, and that