FORTY-SECOND CONGRESS, 1871-1873. 695 



it is formed shall have hocn accomplished; and it shall be competent 

 to sue and be sued, plead and be impleaded, defend and be defended, 

 in all courts of law and equity in the United States; and may make 

 and have a corporate seal, and may purchase, take, have, and hold, 

 and may grant, sell, and at pleasure dispose of all such real and per- 

 sonal estate as may be required in carrying into effect the provisions 

 of an act of Congress entitled "An act to provide for celebrating the 

 one hundredth anniversary of American independence by holding an 

 international exhibition of arts and manufactures, and products of the 

 soil and mine, in the city of Philadelphia, and State of Pennsylvania, 

 in the year 1876," approved March third, 1871, and all acts supple- 

 mentary thereto; and said Centennial Board of Finance shall consist of 

 the following-named persons, their associates and successors, from 

 the States and Territories as herein set forth: * * 



SEC. 2. That the said corporation shall have authority and is hereby 

 empowered to secure subscriptions of capital stock to an amount not 

 exceeding $10,000,000, to be divided into shares of ten dollars each, 

 and to issue to the subscribers of said stock certificates therefor under 

 the corporate seal of said corporation, which certificates shall bear 

 the signature of the president and treasurer, and be transferable under 

 such rules and regulations as may be made for the purpose; and it shall 

 be lawful for any municipal or other corporate body existing by or 

 under the laws of the United States, to subscribe and pay for shares of 

 said capital stock, and all holders of said stock shall become associates 

 in said corporation, and shall be entitled to one vote on each share; and 

 it shall be the duty of the United States Centennial Commission to pre- 

 scribe rules to enable absent stockholders to vote by proxy. The pro- 

 ceeds of said stock, together with the receipts from all other sources, 

 shall be used by said corporation for the erection of suitable buildings, 

 with their appropriate fixtures and appurtenances, and for all other 

 expenditures required in carrying out the objects of the said act of Con- 

 gress of March third, 1871, and which may be incident thereto; and 

 the said corporation shall keep regular minutes of its proceedings, and 

 full accounts, with the vouchers thereof, of all the receipts and expendi- 

 tures, and the same shall be always open to the inspection of the United 

 States Centennial Commission, or any member thereof. 



SEC. 3. That books of subscription shall be opened by the United 

 States Centennial Commission, under such rules as it may prescribe, 

 and an opportunity shall be given, during a period of one hundred days, 

 to the citizens of each State and Territory, to subscribe for stock to 

 an amount not exceeding its quota, according to its population, after 

 which period of one hundred days, stock not taken ma}' be sold to any 

 person or persons or corporation willing to purchase the same. 



SEC. tt. That after the expiration of said period of one hundred days, 

 the United States Centennial Commission shall issue a call for a meet- 

 ing, by publication in one or moro newspapers published at the capital 



