Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1849-02-22
PLANK ROAD.
Articles Of INCORPORATION,

Made and entered into, under and in accordance
with Statute of the State Of Iowa. entitled An act
20 authorize General Interpretations" approved Feb
ruary 22d, A. D. ls47 for the purpose Of procuring
the title to the land, by purchase otherwise for
road from Burlington, Des Moines County, in said
state,to Mount Pleasant, Henry County, in said
State, and to construct thereon plank road to be
held, owned and controlled by said corporations and
to be replaced by Rail Road, whenever said corpo-
ration shall deem it expedient, and to provide for
the management and control of the funds, property
and business Of said corporation.
ART. l. Said corporation shall be named and styled
the Burlington and Noun, Pleasant Plank Road Com
pany, land by such name may contract and be con
tracted with, may purchase, hold convey real es-
tate, may sue and be sued, and may have a common
seal, and said corporation shall continue fer the
space Of twenty years.
ART. ?. Any individual may become a stockhold-
er ana party to these articles of incorporation. who
snail subscribe any number of shares in the books
OF SAID corporation, hereafter TO be opened or shall
become the assignee by transfer, hereinafter pro-
vided, OF any share or shares.
ART. 3. The capital stock Of said company shall
be sixty thousand dollars and may be increased at
the VIII OF said corporation, and shall be divided in
to shares Of fifty dollars each.
ART. 4. So soon as fifteen thousand dollars of the
capital stock is taken, the stockholders shall
Die at Burlington, on the call of those opening the
BOOKS, when an installment of per cent. on each
snare, shall be paid to those opening the books in
trust to be paid to the Treasurer when elected and
IN, thereupon an election shall be held Of pres-
dent, Treasurer, and four Directors, all of whom
Snail be stockholders, and hold their Offices for the
space OF one year, and until their successors are
chosen.
ART. s. The President and Directors shall pro-
cure the conveyance of land for a right ofway and
take such measures as they may chooses for the
struction and completion of said road or any part
thereof, shall have power to levy and regulate the
tolls to be cha rged for use of said road and de-
he cot, ,nis ball
trol the funds OF said corporation and invest the
same as the stockholders may direct.
ART. 8. The Treasurer of said CORPORATION shall
give security to the satisfaction OF said board for
the sale keeping or all moneys belonging to said
poration and the faithful discharge of his duties
ana shall not pay out any moneys except upon the
order OF said board, to be first made and registered
in the looks of said company.
ART. 7. Said board shall employ some Compctt mt
person to act Secretary, who shall keep the books
OF sand company, and keep faithful account there
IN OF all the transactions of said company; and who
snail receive such compensation may be fixed by
said board. Said books shall at all times be open to
the inspection Of any stakeholder.
ART. s. There shall be meeting of said stock
holders SIX months after the first election of said
officers, and semi-annually thereafter; and said
BOARD shall have the power to call special meetings,
designating the place, and giving six days notice in
such newspapers as may be published in Burlington
ond Mount Pleasant. The places Of all regular meet
lngs shall be designated by the bylaws.
ART.S. At any meeting of the stockholders the Sc
articles OF incorporation may be altered or amend
ed by vote Of two-thirds of all the stockholders,
thirty days notice of said amendment being given y
and the stockholders shall have power TO remove
one officer on complaint, by the vote, notice
being hrst given such officer Of sue effort for re-
moval, and at all meetings Of said kholders
share shall be entitled to cast vote on all questions
coming before said meeting for decision. and ali
shares may be represented and vote by proxy.
ART. 10. The said board of directors shall have
power, II said capital stock shall not be subscribed
WITHIN three months, to borrow money for the COM
pletion of said road, provided majority of said
stockholders shall consent to the same and shall
have power to pledge said road by mortgage for the
payment Of said loan or loans.
ART. II. Dividends on said stock shall be declar-
ed quarterly; but no dividend shall exceed fifteen
per centum per annum on the amount of capital
stocks and the surplus Of the Of said road
over fifteen per cent, after paying all expenees and
Liabilities Of said company, shall be invested by loan
at 10 per cent. sinking fund, to be devoted ex-
clusirely to the rebuilding or repair of said road.
ART. -. Certificates OF stock in said road shall
be issued to all subscribers, which shall be signed
by SAID President and countersigned by said Secre-
tary and sealed with the seal of said corporation
and all contracts to bind said corporation shall be
executed in like manner.
ART. ID. The stock of said company shall be
transferable by endorsement said certificates, and
notice OF such transfer to be served on the secre-
tary of said board, whose duty it shall be to regis
ter such transfers.
ART. IA. The Board Of Directors shall have DOW
er at any time, when in their judgment the exigen-
cies OF the company may demand it, to require in
staments TO be paid ip in said stock in such sums
sthey may deem necessary, not to exceeds per