Public Law 38–CXCI

That

Potomac ferry company incorporated.

Henry D. Cooke, John B. Hutchinson, H. C. Fahnestock, Thomas Clyde, and William B. Hatch, and their associates and successors, or a majority of them, are hereby created and constituted a body politic and corporate by the name and style of the Potomac Ferry Company.

Sec. 2.

And be it further enacted, That

Capital stock and shares.

the capital stock of said Company shall not be less than one hundred thousand dollars, nor more than five hundred thousand dollars, to be divided into shares of one hundred dollars each.

Sec. 3.

And be it further enacted, That

Line of vessels between Washington and Alexandria.

said company is authorized and empowered to establish and run a line or lines of vessels, propelled by steam or other power, between the cities of Alexandria and Washington, and other ports in the State of Virginia, on the Potomac River, Chesapeake Bay, or the tributaries of the same.

Sec. 4.

And be it further enacted, That

Powers and privileges.

said company is also authorized to purchase, hold, and grant such real estate as may be necessary to carry into effect the purposes of this act, and to build all necessary docks, wharves, and buildings thereon for their own use; may transport passengers and freight of every description, subject to the rules and regulations and laws of the United States; may sue and be sued; may have a common seal, and generally may have and possess the rights and privileges usually possessed by similar corporations.

Sec. 5.

And be it further enacted, That

Directors and officers.

the affairs of said company shall be managed by such officers as the stockholders in general meeting shall elect, and such agents as may be appointed by the board of directors.

First meeting.

The persons named in the first section of this act, or a majority of them, may call a meeting of the stockholders for the purpose of organizing said company, at such time and place as they may determine upon, after advertising the time and place of such meeting for ten days, in one or more newspapers published in the city of Washington. The officers of said company once elected shall hold their offices until their successors are chosen.

Sec. 6.

And be it further enacted, That

By-laws.

the said board of directors may make all necessary rules and by-laws for the transfer of the stock and the general management of the business of said company; and each stockholder in said company shall be individually liable for all claims against the same at the time such claims accrue.

Sec. 7.

And be it further enacted, That

Act, when to be in force.

this act shall be enforced from the passage thereof.

Sec. 8.

And be it further enacted, That

Act may be altered or repealed.

congress may at any time hereafter alter, amend, or repeal this act.