Chapter CLXVIII. *to incorporate the National Bolivian Navigation Company*
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CHAP. CLXVIII.— An Act *to incorporate the National Bolivian Navigation Company*. June 29, 1870. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, National Bolivian Navigation Company incorporated.Powers, &c. That George E. Church, William H. Reynolds, Jerome B. Chaffee, S. L. M. Barlow, James S. Mackie, Charles A. Lambard, and George F. Wilson, and such other persons as may be associated with them and their successors, are created a body politic and corporate by the name, style, and title of the National Bolivian Navigation Company, and by that name shall have perpetual succession, and shall be able to sue and be sued, plead and be impleaded, defend and be defended, in 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, and charter steam and other vessels, and employ the same in navigation between the United States and the ports of South America, or upon the Real estate, &c.rivers and navigable waters of Bolivia and Brazil, and may hold such real and personal property of every kind as may be necessary or usefulFORTY-FIRST CONGRESS. Sess. II. Ch. 168, 169. 1870.169 in connection with the said business, and may, under authority of theMay engage in public works, &c.
Peruvian and Bolivian governments, engage in public works connected with such transportation, or which may become 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 a pledge of its property and franchises: *Provided*, That the United States shall not be responsibleUnited States not to be responsible. for loss or damage resulting from the transportation of property to, or investment made in, any foreign country.
Sec. 2. *And be it further enacted*, That the capital stock of the saidCapital stock. corporation shall be one million of dollars, to be divided into shares of one hundred dollars each, and said shares of stock shall be personal property transferable on the books of the company only; and said capitalIncrease of capital.Shares. stock may be increased from time to time, as may be necessary, for the general purposes of said company. Sec. 3. *And be it further enacted*, That the said company shall haveBy-laws power to make such by-laws 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 out the general objects of the corporation, and to amend or to repeal the same at pleasure: *Provided*, That such by-laws shall not conflict with any law of the United States.
Sec. 4. *And be it further enacted*, That the stock, property, and affairsBoard of directors. of the said corporation shall be managed by a board consisting of not more than nine or less than five directors, and they may appoint a presidentOfficers and agents. and such other officers, and employ such agents, as they deem proper. Sec. 5. *And be it further enacted*, That the corporators named in thisCorporators to be directors for first year.Annual election of directors. act shall be the directors for the first year from the organization of the company, and thereafter annual elections of directors by the stockholders 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 oneProxies. vote, and a majority of the stock thus represented shall elect.
Sec. 6. *And be it further enacted*, That this act shall take effect immediately.When act takes effect. Sec. 7. *And be it further enacted*, That the principal office of the companyPrincipal office of the company to be in New York. Act may be altered, &c. shall be located in the city of New York, and that Congress shall have power to alter, amend, or repeal this act at any time. Approved, June 29, 1870.