Chapter 1494. To incorporate the Washington Sanitary Housing Company
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/statutes-at-large/vol-33/chapter-1494-1711281·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 1494.— An Act To incorporate the Washington Sanitary Housing Company. April 23, 1904. [[H. R. 11968](/us/bill/58/hr/11968).] [[Public, No. 158](/us/pl/58/158).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That Henry Y. Satterlee, District of Columbia. Washington Sanitary Housing Company incorporated. Incorporators. Tennis S. Hamlin, John M. Harlan, S. Walter Woodward, Brainard H. Warner, John Joy Edson, Maximilian G.
Seckendorff, Wallace Radcliffe, Clement Brown, John W. Foster, George M. Sternberg, Henry B. Brown, David J. Brewer, Crosby S. Noyes, George M. Kober, Charles C. Glover, Charles J. Bell, Henry F. Blount, Charles B. Purvis, Francis J. Grimke, Frederick A. Miller, J. W. Pinchot, Mary L. D. Macfarland, Elizabeth J. Somers, Herbert Wadsworth, George Truesdell, John F. Wilkins, Simon Wolf, Henry A. Willard, J. Henry Small, 302 junior, Augustus S. Worthington, Emily Tuckerman, Thomas W.
Smith, Clare G. Addison, John B. Larner, Bernard T. Janney, Tallmadge A. Lambert, Charles E. Weller, G. Lloyd Magruder, Charles E. Foster, E. Francis Riggs, Alexander Graham Bell, Samuel R. Bond,. Caleb C. Willard, and George H. Harries, their associates and successors, Name of corporation. be, and they are hereby, created a body corporate and politic in the District of Columbia by the name, title, and style of the Washington Rights, etc., of. Sanitary Housing Company, and by that name shall have perpetual succession, and it shall be lawful for the said corporation to have a common seal, sue and be sued, plead and be impleaded, and have and Purposes. exercise all the rights, privileges, and immunities for the purposes of the corporation hereby created, which purposes are declared to be to acquire, hold, improve, rent, mortgage, sell, and convey real estate within the District of Columbia, for the building of sanitary housesfor the poor to replace the insanitary houses now occupied by them, especially in the alleys, and to rent such houses at so low a rental that dilapidated and insanitary houses will be abandoned by their tenants when, as a result of this work, better houses can be secured at the *Provisos*.
Limit of property holdings, etc. same or a lower figure: *Provided*, That the value of any and all property so acquired shall not exceed the sum of five hundred thousand Restriction. dollars: *And provided further*, That no land shall be acquired or houses built thereon except of the character hereinbefore described. Sec. 2. Capital stock. That the capital stock of said corporation shall be twenty-five thousand dollars, divided into two hundred and fifty shares of the par value of one hundred dollars each, and when said amount shall have been subscribed the said corporation shall be fully authorized and *Provisos*.
Additional stock. empowered to commence business: *Provided*, That said capital stock may be increased by the sale of additional stock from time to time, but the total issue thereof shall not exceed the sum of five hundred thousand Dividends. dollars: *And provided further*, That it shall be unlawful for the officers or directors of said corporation to declare any greater dividend to the stockholders than four per centum per annum upon the capital stock outstanding at the time of any such dividend.
Sec. 3. Board of directors. That the affairs of the corporation shall be managed by a board of directors consisting of fifteen persons, who shall for the first year be elected by the incorporators hereinbefore named, from their number, and thereafter said board shall annually be elected in such Powers of board. manner as may be provided by the by-laws of the corporation, and such board of directors shall have power to ordain, establish, and put in execution such rules, regulations, ordinances, and by-laws as they may deem essential for the good government of the corporation, not contrary to the laws and the Constitution of the United States, or of this Act, and generally to do and perform all acts, matters, and things which a corporation may or can lawfully do.
Sec. 4. Amendment. That Congress reserves the right to repeal, alter, or amend this Act. Approved, April 23, 1904.