The true Democrat., 1855-02-14
LAWS OF ARKANSAS.
AN ALT to amend the Charter of the Arkansas
 Midland Railroad Company


 of the State of Arkansas, That the charter of sa;c railroad company, filed with the Secretary of State o sad State on the Eth day of November. A. D. 1858 "ltn all oi It's provisions be and the same is hcreb, fatiied and confirmed and enacted as one of the lay of said State ef Arkansas which said charter is in tb words following: '' '--> l. That said company shall be called "1be Ar. sah5as Midland Railroad Company" and its office i. fixed in the town of Helena and it shall he comoS of John $. Horner, John C. Palmer. r & tyinn Henry L. Biseoc, ". N. Moon. Samuel Martin a,s2 john r. James, ana such other persons as may bern- aer cake stock m said company and the said person. named, citizens o the State of Arkansas suoScoe ther names hereto for the purpose of ino the charter ln the office of the Secretary of State m te eVde"ce of the existence of such corporation and o thelr acceptance of the privileges granted bv the geGcIal I act of incorporation of January Sth is5 ana that sich other persons as may become snl,scri pefS ol stock in said company, and comply with the ProVlsols contained ill this agreement and act of in corporation. and by the bylaws rules and reoula uols or said company. and the laws of the land respecting the same, may likewise become co-oDera- tors herein. l
 $2 That said corporation established for the pur pose of constructing and maintaining a railroad OF le most eilgioe route from the town of Helena Ar kaIlSIs to the city of Little Rock in said State
 $ 3. The capital stock of said company is hereby 1Xed al one million two hundred and fifty thousand dollars, which may be hereafter increased to any sun not exceeding one million five hundred thousand dol iarS' lo"Fd necessary, which shall be divided into
 l two per cent on each share shall be made within thirty days after the time of subsc1bpg and the subsequent payments shall be made in such sums and at such periods as shall be fixed by the Roard o Dheclors fforaded, That no call shall be made fol more than ten per cent at any one tme and tha, thirty days notice of each call shall be given by pub !lcaton III one newspaper at Little Rock and one al Helena and Ii any stockholder shall fail to pay any sum required of him by the President and Directors or majority of them, which may be due on account Of his subscription of stock in said Company witbi, twenty days after the time appointed, and the same shall have been advertised in the newspapers herein before mentioned, the President and Directors or 6 majority ot them may the said share or shares to besod at pubic auction, at such time and place as they may direct giving twenty days notice of the time and place ot said sale in the manner aforesaid and after retaining the sum due with interest and all charges of sale pay the surplus if any over, to said delin- quent stochholder No stockholder shall be permit ted to vote while n default or during such time bf continued in office a director
 $ j. The said corporation shall go into operation anu Dc olganiZed US sO0n shares of stock to the amount ot fifty thousand dollars shall be subscribed
 J. The business of the corporatoin shall be con ducted at its office in the town of Helena by a board of nine directors who shall be stockholders owning ten shares and hold their office until their enccpssr are duly elected and qualified, and have compiled with the provisions of this charter and the orders bylaws. rules and regulations of this corporation The Direetora shall elect of thor body President of the Company at their first meeting after thai, election, who shall hold his office until his stccs sor Is duly elected and qualified. A quorum shall bt composed ot Ut least five Directors and in the aJencC ot the Pltelient. oe p@ te1ac1e shall be apl,ointeC in his place. At a elections by the stockholders and at all their meetings ea,h share shall bc entitled to one vote Alter the first telcction all shares of stock must be owned and possessed by the voter six months before voted on. ' otes may be given in person ol by proxy. in writing All process and notice, shal be served the President person. CT left with the Secretary, q the office of the Company.
 5. The first Bo.rd of Directors shall be chosen SC soon a the said amount of fifty thousand dollars i subscribed, and h: election shall be hell at Helena under the suPe.ntendcnce of John s. Homer Alle1 J. Folk. al-l N acr |. Pres wloare likewise ar. pointed Commissioners to open books of subsaliDti6r 70 the rrWtal ~tcek # the Company. for PIilEn county; ana F. ?. Redmond, Stlnuc Martin. anc John 4. liurwick, arc appointed commissioners fo, Monroe county; and Lewis Garret. Samuel w. Will Hams and Richard Pyburn for Prairie county: and Ebenezer Cummna, Charles T. AdaIn,on and
 for Pulasii county. Notices Of the election of Directors shall be given by publication for ono week. in each of the newspapers at Helena and out paper at Little Rock. All subsequent elections ,ha De held under the superintendtncc of three commis soEers who are not directors, to be appointed from among the stockholders by the directors for the time being. The first board of directors shall hold thei1 office until the second Monday nJ anuarv A. D. 1853 and each subsequent election shall be held on the sc- cond Monday ill January, Anno Domini. l855 and each year thereafter failure to elect directors shall not dissolve the corporaton but those in office shall continue until their successors are elected and qualified. All notices of elections and meetings of stockholders after the first election provided for sha be given ty publication thirty days in advance in one paper at Little Rock and one at Helena. The books of subscription shall be closed the 1s day of De- cember, A. D. 1853, thereafter as the sum of fifty thousand dollars is subscribed to be reopcned at the option of the president and directors
 [. The president and directors of said companv shall by theircorporatc name be capable of suing and being sued npleading and being impeadcd det;.nd- ing an4 being defended against, ill law and in equi- ty, ill a courts and places whatsoever ill ike manner and as fully natural persons; may make all usa i common seal and alter Tenca hesane at pleasure and by their corporate and style shall be capa- b.e in law. of contracting and being couracteI with: shall be and are hereby invested with all the r ,oes powers, immuntics and francllises and of acuiiing by purchase donation or otherwise; and of holding and conveying real and personal cstlte which may b.. necessary carry into efo3o fully the purpose and object If this corporation.
 8th. Any vacancy in the board of directors. oc- curing during the year shall be flied by vote Of the board of directors
 9. Ii any subscriber for stock shall be taxed by virtue of any law or ordinance for the pavnlcnt or subscriptions to the company he shal la ,e tc lI of reducing the number of his shares by any annouJ equal to that of the tax imposed, bat this re]g must b. exercised within thirty days from the date ot the law ordinance, afIer which time 1t shall not be allowed or such stockhodcr may in like m4nner at his option, have such applied towards the iav- ncnt Of his stock and indebtedness
 10 An annual meeting Of the stockhol.l .lers shall Dc held the third Monday of each J.luary. to receive the annual report of the past years tlons and business of the company at which meeting full statement of the financial affairs and other bu- siness ot the company shall be submitted by the pre- sident and directors for examination by the stockh0- ders and their agents.
 II. At all elections the vote, shall be given by ballot, ana plurality of votes shall elect.
 l2 Tine president and directors, may. if in their opnlon 1t will advance the interest of said eoupanv receive subscriptions for stock able ill o labor to be performed said railroad, under the saperintend- of the directors officers of said company: talk ing bond with approved security for the faithful per fonance of the work, when and at the point on said road, where said directors officers shall direct No director, treasurer 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 stockhoder be liable or bound to pay any great CT sum than the amount of stock by him subscribed Is. No transfer of stock shall exempt the purty transferring it from the obligation of paving install ments afterwards called for, until fifty per cent on each share shall have been paid. In testimony where of, We have hereunto subscribed our names, at the town of Hccna in the State of Arkansas on this lst day of November, in the year of our Lord one thou sand eight hundred and ffty-three.
 II. l.. BISCOE,
 ". F. MOON. .ot
 SAM MARTIN,
 JOHN T. JONES'
 C