The Arkansas banner., 1849-01-16
THo's S. DREW.
AN ACT to incorporate the southwestern
 and Arl ansas Mining Company.


 Whfreas, II is represented to the General Assembly'
 of the State of Arkansas, that Oron D. Moulion,
 and his associates. have purchased and leased
 large tracts of land lying on or near the Arkansas
 river, con,anng valuable mines, now beng
 woraei, of silver aud lead, together with various
 other minerals; and that ample appropriated Tap-
 propriaticn to the working of the same will con
 tribute 10 tho prosperity and geaerdl ,eeIffare of
 this State; therefore,
 Section l. Be t enacted by hs General .qssena5ly of the State cf Arkansas, That Oron D. Moulton Thomas D. Merrick, and Robert E. Campbell and tker associates, and all and every person or persons and their heirs, representatives, assigns and sors, who shall become subscribers, accoRdingto the mode hereafter prescribed, shall be- and they arc hereby, incorporated by the name of srhe South western and Arkansas Mining Company" for the purposes and win the privileges and mmun mites hereinafter described, defined and granted; and by that name shall be body polite and corporate, in fact and in law, 10 sue and be sued, plead and be impleaded in all courts of justice and elsewhere; and the said company shall have power and author ty, at any time after the passage of this act 10 pur chase. receive in donation, possess, and enloy re- tain, dismiss, grant, lease, alien, self and convey under the instructions and limitations hereinafter mentioned, lands slaves, hereditaments and rights goods, ehattles and effects necessary useful for the construction of machinery, manufactures foundries, furnaces, railways, waterpoweFs, mills ilaboats seamboats, other variety of boats which
 
 their said mines, and for the transportation of the products thereof 10 markets and for the successful prosecution of the powers and privileges herein granted, or which may be necessary to secure the success of the company; and the said company shall have power to make and use q common seal, the same 10 change and renew al pleasure and 10 adopt and carry into execution snch laws, ordinances and regulations shall by its directors be adiudyed necessary and convenient for the government and management of said company, and the same to change, altar, repeal, amend and rc-enact provided the be norYepugnant to the constitution or tie United States, or of this State.
 Sec. ?. find be farthrr enacted That the cspital stock of said company shall consist of three thous- and shares, of one hundred dollars each; of which the lands, mines aud personal property, now being used in prosecuting the work of the mines on the mineral lands of the said Oron D. Moulton, Thomas D. Merrick, and Robert E. Campbell, and their as- socistes, shall constitute part at price to be de- ermned and fixed by the owners before suhscrp- ten shall be made by others; and the President and Directors shall have power, from time to time, 10 increase the capital stock of said company to such mnuntus in the exercise of sound discretion they shall ,leeu, necessary to carry every branch of industry for the purpose S :. eseieplns ihs mineral resources of the lands which they may own; pro. slded, the same shall not exceed twelve thousand shares
 Soc. }. And De II faIthe enacted, That the sub scrption 10 the said capital of the company shall be opcntu uhuef the uHtCtoh Oi tbe sad MoGltOh, Merrick aud Campbell, or either of thcm and under the direction oi such other person or persons, as they either cf them stall at snch time and place as they siaii designate, givisg notice thereof.
 Sec. i. And be II 6IrikrT enactea 1hst as soon as one thousand shares of tho stock shall have been taken, the said Moaiton, Mcrrck and Cainpheif shall give due notice of the fact, and call meeting of the stockholders at ths placc which they sbaij appoint, who may proceed to the election of board of directors. who shalt be stockholders fn said company 10 co sst of five directors, aud who shall continne in office for the term of one year, ar until their successors shall be appointed; and the said board of directors elected shall elect one of their own body to be President; yacaucies from resigna. ton or other causes shall be filled by ihe directors tbree of whom shall constitute quorum to do business, and who shall have power aud authority 10 control and manage all and initcsts of ihe company, to appoin. all agents, clerks, aad officers necessary, who shall give security and take an oath faithfully and honestly 10 discharge their aaiy In such manner and form may be required of the them and 10 hold their places a. the peasur7 of the directors. Sec. 5. And De | taffhey enacted, That the powers nod duties herein delegated to the said Moullon- Merrick and Campbell, and their associates, as 10 sell stock, and to organize the said 1 ;empany. shall cease and expire soon as the di- i 'ectors shall hMye met and elected their President rho shall issue scrip or certificates Of stock to each tock holder provided they be allowed to take stock IS other parsons.
 Sec. 6. And ts {, far.hsr saacisa, That every | shall be eligible director. and every sockhclder shal; have one vote for each share l which he may owa. to be given Yivs voce or by | 'Toxy; the directors shall be elected annually by the at such time and place ss may bs ap- 'oints by the beard, and lake oath eibeislly to