1916] OF THE SENATE. 1345

majority vote of the stockholders annually, and to serve for the
term of one year and at such times as shall be provided by
the by-laws of said corporation; said by-laws to be made and
adopted by the Board of Directors, not contrary to law, for
the regulation of the affairs of the company, including the
appointment and pay of the president and necessary subordi-
nate officers, and the time of holding the annual meeting of
stockholders for the election of directors.

'Sec.'7. And be it enacted, That said Board of Directors are
hereby authorized to open books for subscription to the capital
stock of said canal company at such times and places as they
may deem proper, and receive subscriptions in money or in prop-
9 erty—real, personal or mixed—or in labor or services at such
valuation as may be agreed upon between the said company and
those subscribing at the time of said subscription, and said
Board of Directors shall have power to determine in what in-
stallments said subscriptions to said capital stock shall be paid;
and upon failure to pay any such installment on any such sub-
scription within twenty days after the same may be due and de-
mandable, the stock on which payment is demanded shall, at the
pleasure of the said Board of Directors, be forfeited to the
company and sold for its benefits, but the Board of Directors
may remit such forfeitures or may recover in the name of the
company such installments by suit or action at law or in such
other way and upon such terms as they may deem proper.7"

On motion of Mr. Shepherd, the House amendment was
concurred in, and Bill, as amended, was passed by yeas and
nays as follows:

Messrs.— AFFIRMATIVE.

President Chesley Holmead Mudd Warfield

Allen Collier Johnson Norris Williams

Archer Cooper Jones Ogden Zihlman

Bennett Duvall Joy Parsons

Bomberger Frick Kaufman Shepherd

Brown Harrison Legg Speicher Total—27

NEGATIVE—None.
Also

SENATE BILL No. 261, BY MR. DUVALL.
SUBJECT: NATIONAL DEFENSE HIGHWAY.

[Endorsed: "Read the third time and passed by yeas and
nay s y as amended"]

Amendment proposed by House of Delegates: "Amend the
title of the Bill by striking out the words 'and direct,' after the word 'authorize.' "