Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-03-09
STATE OF MISSISSIPPI,
LowNDEs County,

1fOWNOGS OOON4
To WIT: -
Artsclss Of association and agreement,
made and entered INTO, By and be-
t,oeen the Stockholders Of the COtnnp-
bus and T1Ombigby Iransportd-
ton Company of the States Of Aissts>
sippi and Alabama, for the purposes
hereinafter mentioned.
The undersigned, Citizens Of the
States of Mississippi and Alabama, do
tby these presents, covenant and agree
to and with each other, to form thena-
selves into an Association or Company
to beknownby the style and name ofthe
"CoLUMBUs AND ToMBIGBY Trans
PoRrAT1oN COMPANY" for the purpose
of Transporting Goods, Wares, Mer-
chandize, Produce and Passengers, and
any other thing to and from the cities
ofNew Orleans, Mobile, and to and
from any point or points, towns or 9th
er places, situated on tile River Tom
bigby or its tributary streams, by
Steamboats,, ToW-boats and all other
boats and Vessels, necessary and prop
er for the business of transportation.
and for the further purpose of Banking,
and for the better securing each other,
and all others whose interest il may
concern, for the faithful payment of
Stock subscribed for by each member
or members, and against the ultimate
debts and liabilities of the Association
or Company; the members and stock
holders of said Company, do each and
severally bind themselves by the fol.
lowing Articles of Association, viz:
Article lst. The Company shall be
known and designated by the name and
style of Columbus and Tombigby
Transportation Company and all acts
done and performed under that name
and in accordance with these Articles
Of Association, shall be binding upon
all and each member of tho ompany.
Article Cd. The capital stock Of said
Company shall not exceed the sum Of
One Million of Dollars, and shall be
divided into shares of one hundred
dollars each.
Article Sd. The Company by a ma
jority ofvotes shall select two disintcr-
ested and responsible persons to act as
Trustees: and each and every men,
Der subscribing for stock in said Com
pany, shall before he or she receives a
certificate for the same, after paving
promptly, that part of the stock, which
may be required to be paid down in
cash, execute his stock note or bond
for the residue ofthe Stock, payable to
the President of said Company or bear
er. And for the purpose of securing
the prompt payment of said note or
bond, or any part of the same, in case it
becomes necessary for the Company
in the estimation of majority of the
Company, TO require an additional por-
ton ofthe Stock to be paid down in
money, each and every member Of said
Company, shall make and execute a
Deed Of Trust to said Trustees, con-
veying to them in trust for said Com
pany (the member conveying excep~
ted1 unincumbered Real Estate, TO
which he has a fee simple title, or
mixed estate of value to double the
amount of stock note or bond aforesaid.
The value of said real or mixed estate
to be ascertained, in such manner as
may be adopted and directed by the
Company.
Article 4tb. Whenever any mem
Der has fully paid up or satisfied the
Company for the full amount of his or
her stock, secured by deed of trust,
as also all other claims, binding the
real or mixed estate Of such stockhol-
der, which the Company may have
against him or her; then he or she may
demand of the Company a release
deed, for the property so conveyed by
the deed of trust; and it shall be the
duty of the Company or its authorized
gents to have the said deed Of release