Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-05-15
NOTICE

|
attn. The amount Of the Capital Stock paid in a
the date hereof, is 1894 IS. The times and condi
tions on which the remainder of the stool tit bein
| in shares of fifty dollars sach) are as follows:
! The Board OF Directors shall have power at an,
| time when in their judgment the interest of tn
| company demand it, to require installments to h,
| paid In on said stock, in such sums they ma,
| deem necessary, not to exceed twenty-five De
centum at any one time. having first given thirt,
days notice IN newspaper published in Burling
ton, that such payment is required, and upon
OF any stockholder To make payment required
the amount OF such nstallment with interest at tn,
! rate OF ten per centum, per aRnum, may be recov
cred by suit brought IN the name of said company
against such defaulting stock holder-or by order
the Board Of Directors his stock may be forfeited
| and become the property of the company. .....
9Th. The articles of Incorporation were approved
| and adopted by the stockholders on the I'd day o
May, A. D. 1851, and said Incorporation is to con-
| tinse for the term of tweoty years.
9Th. The officers Of said eampanv President
Treasurer. and four Directors. who constitute the
Board of Directors for the Bnsaction Of the bus j.
ness pertaining to the company. The time Of hold
ing elections is the Cd day Of May, annually. The
names Of the present officers are, Hiram Leonard
! President; John G. Foote, Treasurer, and VIM M
! Graham, Luke Palmer, S. Fullenwider and Abner
| Leonard. Directors.
The following the Articles of Incorporation
as adopted, to wit:
Articles of Incorporation.
Articles lnCOrpOf alton made anu entered into
unaer and IN accordance with Statute OF the State
of Iowa, entitled Gan act TO authorize general In
corporations,' approved February god, ls47, for
The purpose of procuring the title to the land by
purchase or otherwise, for road from Burlngt n,
DeS Moiacs county, in said State to Virginia Grove,
in Louisa county, in the same State, and to con
strnct thereon Plank Road, to be held, owned and
controlled by said Incorporation. and to provide
for the management and control of the funds, prop
erty and business "f said Incorporation.
st Sal orati Sh all ho lIod
'The Burlington and Louisn County Plank Road
Company and by such such name shall contract
and be contracted with, may purchase, hold an.
convey real estate may sue and he sued, and NAV
have common seal, and said Incorporation shall
continue for the space Of twenty years. . a..
Art. ID. Any person may become stakeholder
and party TO these articles OF Incorporation. who
shall subscribe any number OF shares in the Books
OF SAID Incorporation, hereafter to be opened, or
who shall become the holder by tronsfer or assign
ment Of any share Or shares, as hereinafter prov-
ded for.
Art. Sd. The Capital Stock of said company shall
be Sixty Thousand Dollars, and may be increa sed
at the will of said Incorporation, and shall be dv-
ded into shares of Fifty Dollars each. Es
Art. 4th. So soon as five thousand dollars of the
capital stock is taken, the Stockholders shall
bic at Burlington the call Of those opening the
books, when an ins,allment Of five per centum on
etch share shall be paid to these opening the books
In trust TO he paid TO the Treasurer when elected
aRd Qualified. II the per eentage on the five thou
SINH be held of President, Treasurer and four
Directors, all of whom shall he stockholders, and
shall hold their Offices respectively for the term Of
one year and until their successors are chosen and
qualified. -=-s -= ~
Art. S. The President and Directors shall procure
the conveyance OF land for the right of way, and
take such measures as they may choose for the
struction and completion OF said road or any part
thereof; shall have power to levy and regulate tine
tolls to be charged and for the Of said
road, and to determine where It'll gates shall be
set up. and shall control the funds of said Incoror
alton, and invest the sameas the stockholders may
direct. So ~'~."
AIT. 9th. The Treasurer OF said company shall
give bond with security to the satisfaction Of the
Board of Dire cts conditioned for the safe keep
ing of all moneys belonging to said conpany, ana
the faithful discharge of his duties as Treasurer.
He shall not pay out any money except upon the
order of SAID board to be first made and registered
in the books of said company. .." .
Art. nth. Said Board shah employ some compe-
tent person TO act as Secretary, WIN shall keep the
books nf said company, and keep faithful account
who shall receive such compensation may be
fixed by said Board. Said books shall at all times
be open to tn. inspection Of any stakeholder.
AIT. sih. There shall tie a meeting of the stock
holders OF said Incorporation, six months after the
first election of officers, and semi-annually there
after. The Board of Directors shall have power tn
call special signaling the time and place
and giving six days notice thereof in such ncwsra.
pers may be publ shed in Burlington. The place
OF holding all regular meetings shall be designated
by the By Laws of the Company.
Art. 8. At any meetIn g Of the stockholders. these
articles of Incorporation may be altered or amended
by majority of the stockholders present, thirty
days notice af said amendment being given. The
stockholders shall have power to remove any officer
on complaint. by the same vote, notice being first
given to said officer Of such effnrt TO remove him
with the cause Of complaint against him. And at
all meetings of said stockholders, each share shall
be entitled to cast a vote on all questions coming
before said meeting for decision. and all shares may
be represented, and vote by proxy.
Art. 10th. The said Board Of Directors shall have
power If said capital stock shall not he subscribed
within six months, to borrow money for the COM
pietion of said road, provided m ijority OF said
stockholders shall consent to the same; and shall
have power to pledge said road by mortgage forthe
payment Of said loan or loans.
Art. nth. Dividends on said Stock shall be de-
clared quarterly, but no dividend shall exceed hf-
teen per centum. per amman, on the amount OF cap
ital stock: and the surplus of the revenues OF said
road fifteen per nam, after paying all expcn-
ses and liabilities of said company, shall he invest
ed by loan at ten per centum as sinking fund, to
be devoted exclusively to the rebuilding or repair
of said road.
Art 18th Certificates of stock in said road shall
be issued to all subscribers, which shall he signed
by the Pre- siden, and countersigned by the Secre-
tary, and sealed with the seal OF the Company-and
all contracts to bind said company shall De execu-
ted in like manner.
Art, ,sth. The stock of said company shall be
tran able by endorsement on snid certificates,
and notice of such transfer shall he served on the
Secretary of the Company, whose duty 1t shall be
to register such transfer.
Art. i4th. The Beard of Directors shall have
power at any time, when in their Judgment the in
tcrests of the company demand il, to require in
stailments to he paid IN sail stock in such sums
as they may deem necessary not to exceed twenty
five per centum at any one tine, having first given
thirty DAYS notice in newspaper published in Bur-
iington, that such payment is required, and upon
default of any stakeholder to make pay ment as re-
auired the amount Of such nstallment, with inter-
est at the rate of Ten per centum per annnm, may
he recovered by suit brought in the name of said
company against such defaultng stoCkholder, or in
the discretion of the Beard Of Directors, the shares
held by such stakeholder may be forfeited to the
use of said company, and may be so declared by the
Board of Directors.
AT. 18th. The private property Of the stockhold-
shall he exempt from liability for the debts of
the Incorporation, provided for in the sixth
ton an of the General Assembly of the state
of Iowa entitled .;An act to authorize General In
corporations,' - approved February 22d, lS47.
The foregoing Articles of Incorporation shall he
entered in the books which shai contain the sub
scrptons of shares in said capital stock and said
under the direction OF the following persons: At
Darlington, A. w. Carpenter and J. F. Taliant; at
Yellow Spring township, 5. Fuilcnwider, II. Leen-
ard and ]. II. Leatherman; at Frank township,
James Allen; and at Virginia Grove in Louisa CO.,
Cicero Hamilton.
1T. d. CRocKER, Secretary 81 said Company, do
hereby certify, that the foregoing are the Articles
of incorporation under which this company has Or
and that the perSonS named m he fnre