Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-05-22
NOTICE
NOTICE
Of the Incorporation Of the Burlington and Louisa


Sd. The amount Of the capital Stock incorporat.
ed is sixty thousand dollars, and may be increased
At the will Of said Incorporation.
4th. The amount Of the capital stock paid in at
the date hereof, is 1884 Is. The times and condi-
tons on which the remainder of the stock ut being
in shares Of fifty dollars each) are as follows:
The Board Of Directors shall have power at any
time when in their judgment the interest OF the
company demand 1t, to require installments to be
paid in on said stock, in such sums they may
deem necessary, not to exceed twenty-five per
centum at any one time, having first given thirty
days notice in a newspaper published in Burling-
ton, that such payment Is required, and upon default
Of any stakeholder to make payment as required,
the amount OF such nstallment with interest at the
rate OF ten per centum, per annum, may be recov-
cred by suit brought in the name Of said company
against such defaultng sockholder-or by order Of
the Board Of Directors his stock may be forfeited
and become the property of the company.
5th. The Articles of Incorporation were approved
and adopted by the stockholders on the I'd day Of
May, A. D. 1851. and said Incorporation is to con-
tinue for the term OF twenty years.
9Th. The officers OF said company ere President
Treasurer, and four Directors, who constitute the
Board of Directors for the Transaction Of the busi-
ness pertaining to the company. The time OF hold
ing elections is the ID day Of May, annually. The
names of the present officers are, Hiram Leonard,
President; John G. Foote, Treasurer, and VIM NJ
Graham, Luke Palmer, 5. Fullenwider and Abner
The following are the Articles Of Incorporation
as adopted, to wit
Articles of Incorporation.
Articles Of Incorporation made and entered into
under and in accordance with Statute of the State
of Iowa, entitled ssAn act to authorize general In
corporations,' approx ed February 22d, ls47, for
the purpose of procuring the title to the land, by
purchase or otherwise. for a road fTo Burngt IN,
Des Mones county, in said State to Virginia Grove,
in Louisa county in the same State, and to con-
struct thereon Plank Road, to be held owned and
controlled by said Incorporation, and to provide
ma mn nj and Of t,p fund
erty and business of said Incorporation.
Article list. Said Incorporation shall be called
s<The Burlington and Louisa County Plank Road
Company and by such such name shall contract
and be contracted with, may purchase. hold am.
convey real estate may sue and he sued, and may
have a common seal, and said Incorporation shall
continue for the space Of twenty years.
Art. I'd 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 transfer assign
ment of any share or shares, as hereinafter provi-
ded for.
Art. Sd. The Capital Stock of said company shall
be Sixty Thousand Dollars, and may be increased
at the will Of said Incorporation, and shall be divi-
ded into shares Of Fifty Dollars each.
Art. 4th. So soon as five thousand dollars of the
capital stock is taken, the stockholders shall assem-
BILE at Burlington on the call of those opening the
books, when an installment OF five per Centum on
each share shall be paid to those opening the books.
in trust to be paid to the Treasurer when elected
and qualified. If the per centage the five thou
sand dollars shall be paid in, thereupon an election
shall be held of President, Treasurer and four
Directors, all Of whom shall be stockholders, and
shall hold their Offices respectively for the term OF
year and until their successors are chosen and
qualified
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
structon and completion of said road or any part
thereof; shall have power to levy and regulate tine
tolls to be charged and collected for the of said
| road, and to determine where toll gates shall be
up and shall control the funds of said Incorpor
alton, and invest the same the stockholders may
direct.
Art. 9Th. The Treasurer of said company shall
give bond with security to the satisfaction of the
Board Of Directors, conditioned for the safe keep
ing of all moneys belonging to said company, and
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. 7th. Said Board shall employ some compe-
tent person to act Secretary, who shall keep the
books Of said company, and keep faithful account
therein OF all transactions OF SAID company; ana
| who shall receive such compensation as may be
| fixed by said Board Said books shall at all times
be open to the inspection Of any stakeholder.
Art. sth. There shall be 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 to
call special meetings, designating the time and place
!
pers as may be published in Burlington. The place
Of holding all regular meetings shall be des, gnated
by the Bylaws Of the Company.
Art. 3. At any eetlng of the stockholders, these
articles of incorporation may be altered or amended
by majority Of the stockholders present, thirty
! days notice Of 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 effort to remove him
with the cause OF complaint against him. And al
all meetings OF said stockholders, each share shall
! be entitled to cast 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 be subscribed
within six mcnths, to borrow money for the COM
pletion of said road, provided a majority Of said
stock holders shall consent to the same and shall
have power to pledge said road by mortgage for the
payment Of said loan or loans.
| Art. 18th. Dividends said stock shall be de-
clared quarterly, but dividend shall exceed fif-
teen per centum, per annum, on the amount OF cap
ital stock and the surplus Of the revenues OF said
road fifteen per centum, after paying all expen
ses and liabilities Of said company, shall be 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 be signed
BY the President, and countersigned by the Secre-
tarv, and sealed with the seal of the Company-and
| all contracts to bind said company shall be execu-
ted in like manner.
| Art. 18th. The STOCK OF Salu company SHaii De
transfer able by endors ement on said certificates,
and notice of such transfer shall he served on the
| Secretary of the Company, whose duty 1t shall be
t to register such transfer.
! Art. i4th. The Board Of Directors shall have
power at any time, when in their judgment, the in
| tcrests of the company demand it, to require in
stallments be paid in said stock in such sums
as they may deem necessary, not to exceed twenty
five per centum at any one time, having first given
thirty days notice in newspaper published In Bur-
| lington, that such payment is required, and upon
| default of any stakeholder to make payment as re-
uuired, the amount of such nstallment, with inter
est at the rate Of ten per centum per annnnl, may
| be recovered by suit brought in the name OF said
company against such defaultng stakeholder, or in
the discretion of the Board Of Directors, the shares
! held nv such stakeholder may be forfeited to the
use of said company, and may be 50 declared by the
| Board Of Directors.
Art 18th. The private property OF the stockhold-
ers shall be exempt from liability for the debts OF
the Incorporation, provided for in the sixth sec
ton of act of the General Assembly Of the state
of Iowa. entitled "An act to authorize Genera, In
corporations" approved February 22d, 1917.
The foregoing Articles Of Incorporation shall he
| entered in the books which shall contain the sub
scriptions Of shares in said capital stock and said
books shall be opened at the following places and
under the direction of the following persons: At
Burlington, A. w. Carpenter and j. F. Tallant; at
Yellow Spring township, S. Fulienwider, II. Leon
| ard and j. H. Leatherman; at Frank townsh
James Allen; and at Virginia Grove in Louisa CO.,
| Cicero Hamilton.
| 1T. D. CROKER, Secretary of said Company, do
/ I'm rtrgIa