Southern shield., 1853-11-12
ontinue until their successors are cleo

ted and qualified. All notices of cleo. tions and meeting of stock holders after the first election provided for shall be given by publication thirty days in advance, in one paper at Little Rock and one at Helena. The books of subscription shall be closed on the lst day of December, A. D. 1853, ol as soon thereafter as the sum of fifty thousand dollars is subscribed, to be reopened at the option of the Presi- dent and Directors.
 5 7. The President and Directors of said Company shall by their corporate name be capable of suing and being sued, impleading and being impleaded, defending and being defended against. in law and in equity, in all courts and places whatsoever, in like manner and as fully as natural persons; may make and use common seal, and alter the same at pleasure, ,and by their corporate name and style shall be capable, in law, of contracting and being contrac ted with, shall be and are hereby in- vested with all the privileges, powers, immunities and franchises, and of { (ac- quiring by purchase, donation or oth- erwise, and of holding and conveying real and personal estate, (which may be necessary to carry into effect fully the purposes and objects of this corporation.
 8. Any vacancy in the board of Directors occurring during the year, shall be filled by vote of the board of Directors.
 5 9. If any subscriber for stock shall be taxed by virtue of any law or ordinance, for the payment of subscrip- tion to the Company, he shall have the right of reducing the number of his shares, by an amount equal to that of the tax so imposed; but this right must be exercised within thirty days from the date of the law or ordinance, after which time 1t shall not be allowed, or such stock-holder may, in like manner, at his option, have such tax applied towards the payment of his stock in- debtedness.
 10. An annual meeting of the stock holders shall be held on the third Monday of each January, to receive the annual report of the past years op- erations and business of the Company, at which meeting a full statement of the financial affairs and other business of the Company shall be submitted, by the President and Directors, for ex- animation by the stock holders and their agents.
 5 II. At all elections, the votes shall be given by ballot, and plural | ity of votes shall elect.
 s 12. The President and Directors may if, in their opinion, it will advance the interest of said Company, receive subscriptions for stock, payable in the labor to be performed on said Railroad, under the superin.endence of the Direc- tors or officers of said Company, taking bond, with approved security, for the faithful performance of the work, when and at the point on said road where said directors shall direct. No director, treas urer, engineer, clerk, servant, or other officer of said Company or any of them, shall be an undertaken of any work upon said Railroad; nor shall any stock holder be liable or bound to pay any greater sum than the amount of stock by him subscribed.
 s 13. No transfer of stock shall exempt the party transferring it from the obligations of paying installments afterwards called for, until fifty pel cent on each share shall have beer l paid.
 In testimony whereof, we have hereun-
 to subscribed our names, at the towr
 of Helena, in the State of Arkan-
 sas, on this first day of November
 in the year of our Lord one thous-
 and eight hundred and fifty three.
 JOHN s. HORNOR, JOHN c. PALMRR,
 T. $. N. KING,
 H. l.. BISCOE, I VIM. F. MOORE, l SAMUEL MARTIN, TOIJN TN JONEC