Public Law 74–377

That, provided the same shall be found by the Public Utilities Commission of the District of Columbia to be in the public interest, the Washington Gas Light Company may, for lawful corporate purposes, by a vote of two-thirds in number of the outstanding shares of stocK of the company, increase its capitalization and from time to time issue such additional stock, in such amounts, for such considerations, of such classes, either with or without par value, and with such rights, privileges, and conditions, as said Commission may approve.

Issuance of stock.

All shares of capitol stock of said company hereafter issued for which the agreed consideration shall have been paid to the company, and all shares of capital stock of the company heretofore issued, as well as shares into which such shares heretofore issued may be changed, shall be deemed and taken to be fully paid and nonassessable, and there shall be no liability to the company or to creditors of the company on the part of any subscriber to, or holder of, such shares.

Changes permitted in outstanding stock.

Said company may, upon obtaining approval of said Commission, change all of the shares of its capital stock at any time outstanding into the same or a different number of shares issued pursuant to the provisions of this Act, by following the same procedure and complying with the same requirements as are now prescribed in section

Vol. 41, p. 1195.

639a of the Code of Law for the District of Columbia, as amended (41 Stat. 1195), in respect of a change of name by a corporation.

Sec. 2.

Provided the same shall be found by said Commission to be in the public interest, said company is further authorized to consolidate or merge with The Georgetown Gaslight Company, upon such conditions as may be approved by said Commission ; and upon such consolidation or merger The Georgetown Gaslight Company shall, without further proceedings, become dissolved and merged into the Washington Gas Light Company, and all property, rights, privileges, and franchises of The Georgetown Gaslight Company shall, subject to encumbrances or liens thereon to secure the bonds or other securities issued by The Georgetown Gaslight Company, and to the payment of any valid claims against, or indebtedness of, TheGeorgetown Gaslight Company existing at the time of such merger, pass to and be vested in the Washington Gas Light Company as its property, with all the powers, rights, privileges, and franchises now possessed by either or both of said companies, including the right in the Washington Gas Light Company to institute and prosecute in its own name any action in connection therewith: Provided, That

Proviso.

Pending actions.

pending actions against The Georgetown Gaslight Company may continue against The Georgetown Gaslight Company until the merger of said companies, and thereafter against the Washington Gas Light Company. Actions or claims against The Georgetown

Claims, etc., filed after merger.

Gaslight Company filed after the said merger shall be brought against the Washington Gas Light Company.

The Washington Gas Light Company, after such merger, shall

Corporate powers.

have the full power and authority to manufacture, transmit, distribute, and sell gas in all parts of the District of Columbia and adjoining territory, for any purposes for which gas is now or may hereafter be used; and to lay, repair, and replace gas mains and pipes in any of the streets, avenues, and alleys of the District of Columbia: Provided, That said work and its incidents, including the

Proviso.

No public expense for roadway cuts, etc.

replacement of pavement or roadway cut, shall be without cost or expense to the District of Columbia or to the United States: Provided further, That except as specifically provided in this Act

Existing charter, etc., not affected.

nothing contained herein shall be taken or construed as altering, repealing, or changing any provision of existing charter or franchise or rights of the Washington Gas Light Company or of any statute, law, ordinance, or regulation pertaining thereto.

Sec. 3.

All charters, statutes, Acts and parts of Acts, laws,

Inconsistent laws, ordinances, etc., repealed.

ordinances, and regulations inconsistent with or repugnant to the provisions of this Act, but only so far as inconsistent herewith or repugnant hereto, are hereby repealed.

Sec. 4.

The right to alter, amend, or repeal this Act is hereby

Amendment.

expressly reserved to the Congress.