The Alaska daily empire. [volume] (Juneau, Alaska) 1912-1926, 1922-12-06

was referred to the Committee on
pu5!ic Lands
Measure In Full
The measure follows in full:
BE 1t enacted by the Senate and
House of Representatives of the
Unted States OF America in Congress
a 5senbled, That L. r. Beckley and
associates, and all such persons as
shall or may be associated with them
and their successors, are hereby Gre
ated a body public and corporate, in
flJt and in law, by the name, style,
and title eff the United States Plati-
mum Corporation,' and by that name
shall have perpetual succession, and
shah be able ITO sue and be sued
plead and be implicated, defend and
be defended in all courts of law and
equity within the United States, and
may make and use common seal,
and the said corporation is hereby
authorized and empowered by lay
out, locate, contract, control, furnish,
maintain, and enjoy leases, concas-
sions, and physical possession of all
the platinum sands owned and con-
relied by She United States Govern
nent in and about the public do
mains OF Alaska.
Whole Thing
Sec. 2. That the person named in
the first section of this Act and his
associates shall constitute board of
mmissioners, twenty of whom shall
Constitute a quorum for the transac-
Ion of business. to be known as the
United States Platinum Corporation
Commits s'ioners. who shall meet in
the city of New York within ninety
lays after the passage of this Act,
at a time ito be designated in no.
tee to be signed by the person first
named in the list of corporators and
six OF his associates, to be published
or five days daily in a daily news
paper in the city of New York, and
when so met they may cause books
10 be opened for the subscription of
che capital stock of said company,
and when seven hundred and fifty
shares, amounting to $4,000, have
been subscribed and ten per centum
actually paid thereon in money to
the treasurer, to be elected by said
commissioners, who shall give bond
16or It's safe-keeping and payment to
the treasurer of the company when
'orgaEtzed, then lit shall be lawful for
such subscribers or stockholders, or
majority thereof, to organize said
company in accordance with the
provisions OF this Act, and to elect
not less than seven nor more than
eleven directors, "a majority of whom
IT business, and who shall hold their
offices for one year and until their
successors shall be elected and quail
lied, and the said directors shall i'm
nediaItely proceed to elect presi-
dent, vice president, secretary, and
treasurer.
"Sec. g. That the president and
vice president shall be directors AT
all elections for directors each share
of stock shall he entitled to one
NoIC' 'irdy NC SI'Sh W tAiN
holder in person, or by proxy, who
shah also be shareholder.
''The directors shall hold their of
ices for any term not exceeding
three years. as may he provided in
he bylaws, and the annual meetings
Of stockholders shall take place as
crowded for in said bylaws.
Capital Stock
"Sec A. That the capital stock
| of the United States Platinum Cor
r,oration shall be fixed by the board
t directors at a sum not exceeding
| $50, 100000 in shares of $500, and
| when the amount is so fixed it shall
never be increased except by con
| sent of Congress.
Assessment upon said stock shall
only be made by a majority vote @
| the whole number of directors at 6
| bylaws. which said assessment whe,
so ordered shall be paid at the ex
piratfon of sixty days after a notice
duly and properly mailed to eacl
shareholder, as more fully provided
1 in the bylaws.
"Sec. g. That the said compan!
shall have power and authority t.
4 make arrangements with any rail
4 road. steamship line. or other trans
4 portation company or companies nov
4 operating or hereafter operating I'm
4 dor any State, Territorial. or con
i greSsfonal authority as the judgmen
4 of the board of directors may deem
best; may purchase bonds, accep
donations of land or other propert,
from States. governments, or indi
v.duals or do and perform any act ;
natural person might do, with du'
and decent respect to law, for tn,
rightsul purpose of aiding in carrying
out the objects of this company.
i Sec. G. That all rights, lands
leases, concessions, land grants
1 agreements. franchises. privileges
and appurtenances, and property o
every description belonging to. owne'
by. or in physical or other posses
sion of the United States Platinum
Corporation. as herein provided, shall
vest in and become absolutely tn
vrrr,orfv fsf .ha Iypi.a 0tatas plafi