696 CONGKESSIONAL PHOCEEDINGS. 



of each State and Territory, not less than thirty days prior thereto, of 

 the corporators and all others who may then have subscribed for stock, 

 to be held in the city of Philadelphia, for the purpose of electing a board 

 of directors, to consist of twenty-five stockholders, whose term of office 

 shall be one year, and until their successors shall have been qualified; 

 at which meeting those who may be present in person or by proxy, of 

 whom one hundred shall constitute a quorum, shall be competent to 

 organize and elect said officers. The said board of directors, and every 

 subsequent board, shall be chosen by the stockholders, out of a list of 

 one hundred stockholders, selected and nominated by the United States 

 Centennial Commission. Nine members of the board of directors shall 

 constitute a quorum for the transaction of business, but no election or 

 change of officers shall take place unless at a meeting of the board of 

 directors, at which a majority shall be present. 



SEC. 5. That the said board of directors shall elect, from its own 

 number, a president and two vice-presidents, whose term of office shall 

 be one year, and until their successors shall have been duly qualified, 

 and shall appoint a treasurer, a secretary, and such other officers as 

 may be required to carry out the purposes of the corporation, which 

 elected and appointed officers shall hold their respective ^offices during 

 the pleasure of the board, receiving such compensation as the board 

 may prescribe; and the board shall also adopt such by-laws, rules, and 

 regulations, for its own government, and for the government of its 

 officers, as may be deemed expedient: Provided, That the same shall 

 not be inconsistent with any act of Congress or the rules adopted by 

 the United States Centennial Commission. 



SEC. 6. That as soon as the board of directors shall have been duly 

 organized, as provided for in section five of this act, it shall be the duty 

 of the United States Centennial Commission to deliver to the said 

 board all stock subscription books, with the papers and records of any 

 kind in its possession, pertaining to the same. 



SEC. 7. That the grounds for the exhibition shall be prepared and the 

 buildings erected by the said corporation in accordance with plans 

 which shall have been previously adopted by the United States Centen- 

 nial Commission, and the rules and regulations of said corporation, 

 governing rates for "entrance" and "admission" fees, or otherwise 

 affecting the rights, privileges, or interests of the exhibitors, or of the 

 public, shall be fixed and established by the United States Centennial 

 Commission; and no grant conferring rights or privileges of any de- 

 scription connected with the said grounds or buildings, or relating to 

 said exhibition or celebration, shall be made without the consent of the 

 United States Centennial Commission, and said commission shall have 

 power to control, change,, or revoke all such grants, and shall appoint 

 all judges and examiners, and award all premiums. 



SEC. 8. That the Centennial Board of Finance shall have authority 



