The true Democrat., 1855-02-14
MORNING, FEBRUARY IA, 1855.
simultaneously, only commencing at the Mississipp

construction, repar and maintenance Of the railroad heretofore described with many tracks they may deem necessary to fix and determine the line of the road, and depots that may be necessary make and contract or procure To be made and constructed all works and erectons whatever for the proper and com plete working of said road construct all bridges over navlgable and other rivers and streames and slues decide whether the crossing shall be by bridges or ferry, to contract specially for work labor or mate ras to be furnished to the company and agree whether the whole any part thereof shall be payable in the capital stock of the company, to hire and purchase hands or aborers, appoint Secretary andreasur- er Superintendent Engineers, Solicitor and other off cers or servants necessary proper for the faithful performance of any duty necessary to the construc ton and proper maintenance of the said railroad to receive from the State general government grant Of land or become the agent of either to dispose of lands granted and with the same or the aid of the same, to procure theroad to be built to make all con- tracts necessary thereto and to make all contracts for the furnishing of iron other necessary equipments or supplies of the road, such terms and on such credit as they shall think proper, including locomo-
 Ves engnes cars, vehicles necessary useful to the purposes of the company to borrow money for or on account of said road for any not to exceed one hundred thousand dollars unless authorized by vote of two-thrds of the stockholders exclusive of the State, to fix the rate of toll for passengers and chandse produce and stock, etc. to make all laws rules and regulations deemed necessary and conve, nent for the proper sate and regular transaction of the business of the company such rules laws and regulations being change, amendment
 
 ngs, or by said President and Directors in the in terval to accept donations in land or money or such material and labor may be useful to the company to accept the right of way purchase or release of the same to declare semi annually the dividends ars ing from the road after paying off all necessary expen ses The dividends shall be declared and payable the fifteenth day of November and May in each year. they shall make areport in full detail to the stock holders, upon the first day of November and May of working of the road, its expenses and profits They il of 1ybi shall be kept ill regular order of all business and other transactions of the company, which books shall always be open to the inspection of any stockholder at the office of the company during the business hours of the day. They shall call a meeting of the stock holders on the written acquisition of stockholders re- presenting one fourth of the stock of the company or on the reqstion of the proper authority represent ing the State. II she becomes stockholder.
 $ Is. Any vacancy in the Board of Directors ocur- ring during the year, may be filled by vote of such of the Directors hold their offices by elections
 l9 The Limitation as to the amount which the Board of Directors may borrow, does not apply to contracts upon credit for the furnishing ron equip ments other necessary supplies or labor or the con tract for the construction ot the whole any part thereof.
 20; No transfer of stock shall exempt the trans terrer from the obligation of paying miscellaneous a terwards called for until in the whole fifty per cent on each of his shares shall have been paid.
 21. The said company hereby reserves to itself the right either to accept reject any act of the Ge
 
 this charter, which shall be decided by the vote of majority of all the stock, exclusive of that taken by the State, at meeting of the stockholders regularly convened for that purpose.
 5 22 No stockholder in this company shall be in any court responsible for losses of the company to any greater amount extent ill the whole than the amount of stock subscribed for and taken by him or her.
 23. The stockholders of said company at d gene ral meeting convened for that purpose may make any 0r a6 to nhar ter not inconsistent with its general purposes mate rial objects or with the said act granting corporate powers for certain purposes; Pr0gMed That such mo dcation addition changes shall receive the assent of the holders of three tourths of the stock ill their own right, which notifications additions or changes shall De proper authenticated and filed in the office ot the Secretary of State in accordance with the pro visions of said act.
 A. The President and Directors may fix the sala- rles of the President, Secretary, Treasurer and all other officers, agents and servants of said company and take security from them when eXpedient but no Director shall receive any compensation for his ser vices as Director.
 $ 25. No Director Treasurer, Engineer Clerk. Ser want, or any other officer of the company shall be an undertaken or contractor of, for any work on said road.
 26. The expiration of this charter or whenever the dissolution of the corporation shall render its liquidation necessary three commissioners shall be elected by the stockholders whose duty it shall be to take possession of the property of the company and conduct Its business to final liquidation, such terms and III such manner as shall be determined by the whereat they are elected which meeting shall De regularly convened for that purpose and ii at the expiration of the present charter orty of the stockholders III number and amount shall desire to renew the for further term the stockhold- CTS dissenting from such renewal shall be bound to transfer their stock to those desiring the renewal at it's fair value to be fixed by appraisers mutually chosen for that purpose
 P. If it should become necessary the Directors hu oa atir,r of tho holders to the capital stock of said corporation The President and Directors may, if they consider eXpedent, receive subscriptions for stock payable in labor or material for the road In testimony whereof we do hereunto severally subscribe names on this the twelfth day of August, A. D. eighteen hundred and fifty two; and do also state and set down the amount of stock for which we subscribe.
 Aud aohereas, The said company is now construct Ing and building the railroad mentioned n said char ter, and for which the same was formed, and that the said charter may be legal binding and eectua to all lntents and purposes if the had been originally enacted by the General Assembly of this State the sameis hereby declared to be as legal bnd ing and efectua to all intents and purposes if the same had been originally enacted by the General As semby of this State; ProUded, That nothing herein contained shall be construed to apply to the twenty third section of said rected charter, and that the powers, privileges and franchises specified and con- tained in said charter with and after the period of twenty-five years, from and after the date of filing the in the office of the Secretary of State shall cease.
 S ?. Be it further enacted, That sworn copies or transcripts of all entries, accounts minutes and pro- ceedings in any book pertaining to the business of said company certified under the hand of the Secre tary, and seal of said company shall be received in evidence in any of the courts of this State without producing the original books, in the same manner only that the books would be received as evidence, subject however, to be rebutted by any other compe tent testimony.
 8. And be it further enacted, That this act be and is hereby declared public act and that the same be in force from and after its passage
 Approved, 22d January, 1S55 AN ACT supplemental to an act entitled an act in
 relation to the Mississippi Ouachita and Red River
 kallroad Company. passed at the present General
 Assembly of the State of Arkansas
 l. Be it enacted by the General Assembly of the State of Arkansas, That all the rights, powers pr veges and franchises, specified and contained in the charter of the Mississippi, Ouachita and Red River Railroad Company, and recited in the act passed by the General Assembly of the State of Arkansas dur ing the present session. entitled act in relation to the Mississippi, Ouachita and Red River Railroad Company, and to which this act is supplemental, be and the same are hereby extended to the period of ninety yeas from and after the twety ninth day of November, A. thousand eight hundred and ffty-two; Prooided, That nothing herein contained shall be construed to apply to the twenty third sec ton of said rected charter and that this act take effect