Mr. JOHNSON. 20% is a small proportion. The next aiiiendment was to strike out the 4th section of the bill after the enacting clause, and in lieu of it to insert: That assoon as the aforesaid 20%.on the wholo capital stock shall have been subscribed asnforesmd and the said cash payment of 10%. shalbhiwo been made the said corporators or a minority of them, shall call a meeting of the stockholders at. the National Hotel. in the city of dWualyshington. by advertisementin one or moreo the newspapersprinted in the city Of Washington ton daysprevmusto such niectingand thesaidstock holders. in person or by prox. s.all proceedto the election from among the stoveholders, by ballot. of se vendirectorsfor conducting and managing the business of said company for the term of one your from the time of their election. the said irectors. so clected shall immediatelyappoint one flioir number to be president of the board of directors, and also another one of their number to be treasurerof said company. the said president.treasurer, and direct ors. cforeentering upon the dischargeof their duties as such shall respectivelytake on oath before any officerauthorized to administer oaths. that they will support the Constitution of the U.S and will faithful] discharge the duties of their respeotive offices. n the absenceof the president a majority of said directors may appoint a president prolemporc; and a majority of said directors shall constitute a quorum for the transaction of business. The amendment was agreed to. The next amendment was to insert as a new section at this point: Sac. 5. Abife: That thesaid president. directors and treasurershall continue in offics ope year from the time of their election and the directors shall fill any vacancywhich inn happenin their own body duriu the term for whio they were elected.iiiid in caseo the death.resignation or disqualification of the presidentor treasurer.theymay electa presidentor treasurerto serve for the residue of thoterm: and thest ockholders.ine neyouraftertho day on which the electionof directors shall be 1st (mexaedeep.atinndgon thesame in every year thereattier. the sameshall appon on Sunday, and in that caseon the day succeeding.)shall elect by bul lot a new board of 7 directors from among the stockholders from whuiii a president and treasurer shall be forthwith appointed to serve one year. all of whom shall, in manner and form aforesaid, take the oath; aforesaid: and the presidentand directors, for the ham being shall give public notice in one or nioroof the nowspaperspublishediii the city ofWashington. at least tenda sprevious to the expiration of the time for which they were elected. lunchstock holder shall be entitled to onevote for everyshareof stockheldbyhim at the time; and anystock older.by written authorityiinder his hand, and executedin the presenceof 2 witnesses.may deputo any other stockholder to vote and act as proxy for him at any Ionoral ine eting.