Section 4
SEC. 4. The Governor-General, on behalf of the Government of the Philippine Islands, shall subscribe for not less than fifty one per centum of said capital stock, and the remainder may be offered to the provincial and municipal governments or to the public at a price not less than par which the Board of Directors shall from time to time determine. The number of shares of stock that may be sold to or purchased by any person, private corporation, association or copartnership, shall in no case be more than one hundred. Ten per centum of the value of all stock subscribed shall be paid at the time of the subscription, and the balance thereof shall be paid at such time as shall be prescribed by the Board of Directors. The voting power of all such stock owned by the Government of the Philippine Islands shall be vested exclusively in a committee consisting of the Governor-General and the presiding officers of both Houses of the Legislature.