The true Democrat., 1855-02-14
deem expodient for the connection of any branch

DEC. otn. be It further enacted, That in addition to the mode prescribed ill section three of the original charter, to which this is an amendment for the col lection of the calls upon the capital stock of said con- pany, if any stockholder shall neglect or refuse to pay such call within ten days after the time named for the payment thereof the corporation may brine suit against such delinquent for the amount of such call calls in any court of competent jurisdiction and recover the amount due with ten per cent dama- ges for such detenon and ten per interest from the time when the same became due until paid. - This the prescribed by section three of
 the original charter to be pursued at the option of the board of directors.
 SEC. 7th Be it further ellacted That semi annual dividends of So much of the profits the corpora ton may deem expedient, shall be made on the first Mondays of June and December of each year unless the president and directors decide on different days and paid to the stockholders as soon thereafter as may be;-and no dividend shall be made to a greater amount than the ret profits after the deduction of all expenses, and the president and directors may retain such portion of the profits contingent fund to meet subsequent expenditures, as they shall deem proper.
 SEC. 8th Be it further enacted That every Pre- sldent and director of said company and before lie acts such, shall swear or affirm as the case may be, that he will well and truly discharge the duties of hs sad office, to the best of his skill and judgment The sad president and directors may require like oath to be administered to the secretary and tyeasr CT ana others ln their employ and in addition there to pond with security in such amount as they may think advisable conditioned for the faithful perform ancc of the duties of their several offices.
 sEo 9th: Be it further enacted, That said corpo- ration shall in case, directly or indirectly enraGc in any kind of trade deal in merchandise other than such as may be necessary proper to carry in to effect the objects contemplated by the act of incor poratlon. Nor shall said corporation under any pre- text whatever enter into banking business for the purpose of receiving deposits, making discounts or issuing bills of credit of any kind or descrptou to pass circulating medium
 SEC. 10th. Be it further enacted that the president and directors shall have power to borrow money up on the credit of the corporation and such other sec rity may be in their possession promote the ob ects of this act, upon such terms is to interest and payment as shall be deemed best for the interest of the company and to issue and dispose of their bonds ill denominations of not less than five hundred dol
 lars nor more than one thousand dollars and for any amount so borrowed to mortgage their corporate pro perty and franchises to convey the same by deed of trust to secure the payment of any debt contracted by said company for the purpose aforesaid; and the president and directors of said corporation may confer upon any d0na .fde holder of any bond issued for money borrowed aforesaid the right to convert the principal due owing thereon into stock of said company At any tinle under such regulations as the board ot directors may adopt. Said company shall have power to sell said bonds, either within or with out this State. at such rates in their judgment will best advance the interest of said company.
 SEC. llth. Be 1t further enacted, That the prcsi- dent and directors clerks. officers agents and servants of said company shall beexempted from military du ty und serving on JuTles and working on the public roads.
 SEC. 12th. Be it further enacted, That the presi- dent and directors of the said company for the time Oclng are hereby authorized and empowered by them selves, their.oicers agents execute all the pow CTS herein granted, for the purpose of surveying o tting constructing, completing, altering maintain ing and Of operating said road. and fur transporting upon the same, persons goods wares and merchan- d,s, with all such powers and author of control. and management of the affairs of said company $. may be necessary and proper to carry into full and complete effect the meaning and intent of this and that to which this is an amendment.
 18th Be it further enacted That the duration of said corporation, ana the powers herein and hereby vested, well as those contained in the original char hereby continued ill said President Directors "ll1 Stockholders of said company. and those who may hereafter become stockholders therein and their successors and survivors, for the period of wo hun dred years. from the passage of this act.
 $ lith Belt further enacted, That said corporation shall have power and hereby iuily authorized to accept through its President and Directors any sup pemcnt or amendatory act, of the General Assem- ply of this State, which may be passed with view to facilitate the operation of said company or for any other purpose.
 18th. Be further enacted That it shall be lawful for the county courts ot the respective counties ill this State, through which the Arkansas Midland Railroad shall be located to subscribe stock in said railroad through the judge of said county court That before any such subscription for stock shall be made
 It shall be, and Is hereby made tle duty of the county court of the proper county to submit inc ques- ton ot Shld subscription to the legal voters of said county by giving the notice prescribed Ly law iii other casea which notice shall specify the ln mt of stock proposed to bc subscribed for and the time Wit
 in which it to be paid and if majority of the votes polled be for the subscription then the judge of the county court shall convene the said court forthwith and make the necessary order, for carrying into effect the said proposed subscription; but if majority of
 the votes pollcd shall be opposed to such sub~criution the question decided shall not be again submitted to
 the voters ot that county until after the expiration of 4C least three months. That whenever any subserl
 ton for railroad, has been made or shall hereafter be made, by the county court Of any county. the said county court Is hereby authorized to convene from tune to time, us they may deem necessary to levy a sPeca tax for the purpose ot paying said county sub S:rpton; lrocded b1reter, That no such special tax snail be levied in greater than will be sufficient to pay out the amount of stock subscribed in be-, half of the county 5a,i tuSsee with the calls righ5 fully made upon individual stockholders i'll the same company, and the money raised under the provisions 0t this act shall be expended within the county by which said stock is taken, near thereto as pract cable. hat for the purpose of meeting any uncx- pected call where there shall be special tax on hand the county court of any county may order an issue of county warrants having not more than twelve months to run to maturity as is authorized by law iii certain cases, which shall be receivable in pay for any portion of the special herein provided for- ne county court ot any county may issue bonds in sums not less than five hundred dollars nor more, than one thousand dollars, bearing interest at the rate 'i olA Dcl per and uGlhGr tle bonds. issued to the company at par in payment of its stock subscription, said bonds having more than thirty years to run; P,vrlded The provisions of this sec- ton shall not apply to the counties oi Pulaski and Prairie.
 $ l6. Be it further enacted That the provisions of section fifteen far as applicable shall apply to any incorporated town or city in the counties of Pulaski and Monroe desiring to take stock in said railroad company.
 l7. That certificates of stock shall be given to tls stockholders in said company which certificate shall be signed by the President and countersigned by the Secretary. The stock shall be assgnable by transfer on the books of the company, personally or by agent or attorney, or by the administrator executor or guardian; the conent of the President and Directors being thereto had. But such stock shall be held at all times by the company for any dues from the holder thereof to the corporation or for any sums that may thereafter become due on contract made prior to such transfer as provided in the original charter, to which this is an amendment: Ir00aded No transfer of stock shall be binding on the compan~ until regularly entered on their books Any State or any citizen, corporation company of any other State or county, may subscribe for, and hold stock in said company, with all the rights, and subject to all the liabilities of any othe stockholder and none other
 l9 Be it fnrtherenacted That this act shall take effect and be in force, thirty days from it's passage unless within that time, it shall be rejected by the company, acting through its President and Directors And its acceptance shall be by third vote of the Eoar1 nf tba bo,