The true Democrat., 1855-02-07

Io declde whether the crossing thereof l1 be by bridges or steam ferry; to prescribe tb nha and length of said bridges and the size of 4b "ath draws for the passage of vesels when over ro 'Icr streams; to contract specially for work labor sable terlals, to be furnished to the company and ma whether the whole, or any part thereof shall be ns be III the capital stock of the company: to il'!a, purchase hands and aborers; ito appoint Sn and Treasurer, Superintendent Engineers. Solicfdr other officers or servants necessary or pronor ana faithful performance of any duty necessary to th e structlon and maintainance of the said raiTr} oh- receive from the State General Governno'' to grant of lands, or become the agent of either t t pose of lands granted, and with the same tbo G IS the same, to procure the ro@l to be buflt to roI 4 contracts necessary thereto and all contracts f furnishing of iron or other necessary eo,i,C the supplies ot the road, on such terms and credit o I think proper, including all locomotives en,,inos Vy vehicles, teens and other equipments dcrrno6i "fS them necessary useful to the purposes of tbo oy pany; to borrow money for and on account of a., road ln any sums not to exceed fifty thousand Jo lars unless authorized by vote of two thirds e I stockholders exclusive of the State to excood .I e sum, and to mortgage said road and its apnprt u"V ces to secure the same; to mortgage said road o S pothecate Its receipts, to pay persons who take ! tract for building the same; when said road ~ ool- portion thereof IS finished to fix the rate of tolI f passengers and merchandise; to fix telerranb v; along sad road, and regulate the fees for mas. V sent; to make all bylaws, rules and regnlat;@so deemed necessary or convenient for the prorer sof ana regular transaction of the business of the com pany-such rules. bylaws, and regulations beino, I lect to repeal, change, amendment or modif,t;r9 oy the stockholders at their meetings or by s,d p' sldent and Directors, in the intervals; to accent o
 tons Tn land or money, or such materials or abor % may Dc useful to the company; to accept relinonS ments o1 right ot way, or purchase releases of tIo same and, to that end to submit questions of col pensaton to the proper tribunals or to arbitration o to settle the same themselves by way of compronI or delegate the power to do so, to declare sem-annu ally the dividends arising from the working of t6. road, or any section or sections of it. after nav,at Of all necessary expenses; which dividend shall beJa cared and payable within the last fifteen days of tI months ot May and November. of each year. Tbry shall make report in fall detail to the stockbolder upon the hrst days of June and December in each year.o the working of the road and its expenses a
 lrotS as also detailed statement of all contracts du ring the process ofconstructng the road and its bride eS' "lth ar account of the progress made they shan cause to be kept regular of books in which sban pc entered ln the regular order of their several datc all busress or other transactions in the comno,,' which books shall always be open to the inspertion i any stockhoder, at the effce of the company durro business hours of the day; they shall Keep stock book and certificates of stock shall be issued to the stockhoderS, and no transfer of stock shall be bind lllg on the company until made its stock books. and they shall call meeting of the stockholders on the written reqUiSitOn of stockholders representuo one hfth Of the stock of the company on the reou slon o the proper authority representing the State II Sllt becomes a SJ0ckEOIQer.
 $ Is. Any vacancy in the board of directory occur ring during the year may be fillel by vote of such Of the directors hold their offices by election l9. The limitations as to the amount which the board of directors may borrow does not apply to con- 1ractS upon credit for the Furnishing of iron, equip
 hents other necessary supplies, or labor, to con tract for the construction of the whole road or se tion thereof
 20. A stated annual meeting of the stockholders shall be held on the last Monday of December in each year to receive the report of last years operations an business and for examination into the condition of the companys affairs, before which meeting the an nual statement shall be laid.
 $ 2l. No transfer of stock shall exempt the transfer from the obligation of paying installments aterwar, called for untl the whole fifty Der cent on each L;s share shall have been paid.
 22 If any subscriber shall be taxed by yrtue of any law, or ordinance for the payment of subscrip ton to the company, he shall have the right of re- dceming the number of his shrres by any amour, equal t9 that of the tax so imposed; but this righ must be exercised within thirty days from the time of payment of such tax after which time it shall not b allowed
 S. 23. The Board of Directors shall have the power of making such arrangements as they may deem pro per for the connection of any branch road with said Little Rock and Fort Smith branch of the Cairo aud Fulton Railroad to pass on the north side of the Ar kansas river, crossing at Van Buren, to Fort Smith Tn the State of Arkansas developing the resources Of western and northwestern Arkansas that may here after be built or proposed to be built; and also fotle of said road of road towards the Pacific or elsewhere and they shall also have the power to make such arrangements or contracts with the Na- tonal Government. or individuals, or corporatonsa may be necessary to the making of said road part of the main trunk or southern branch of the Atlantic and Pacific Railroad; Prog1eI, They shall not exer- else any of the powers granted in this section, unless they shall be authorized to do so by a majority of stockholders, to be assembled at Clarksve previous,
 y or by proxies or notice, specifying the power de sired.
 $ 24. The said company hereby reserves to itself the right, either to accept reject any act of the Ge neral Assembly of this State altering or amending this charter; which shall be decided by vote of majority of all the stock exclusive of that taken by the State, at meeting of the stockholders regularly convened for that purpose.
 25 No stockholder in this company shall be, in any event responsible for losses ofthc company toy greater amount or extent in the whole than the amount ot stock subscribed for and taken by him.
 70. Any notice required by this act. charter the bylaws. to be served on stockholders may tr served on non residents by one advertisement in newspaper at Little Rock. the proper length of time required for service of such notice prior to the action ot proceedings to be endorsed thereon.
 $ 27. If the said road be any where built along or across any State or county public road or the streets or wharves of any town or city. the said company shall keep good and sufficient causewavs or adequate facilities for crossing the same and the said ralrad shall not be So constructed as to prevent the public lloiI uHlH9 dll! roaQ, street. or hgnWaN. along f across winch 1t may pass. When said railroad shSl De earned across any navgable stream a bridge shall be erected of sufficient height, or q suitable draw bridge constructed, that in no case shall the free navigation ot such stream be obstructed When any person shall own lands both sides of said railroad sad company shall, whenrequired to do so make a Keep m good repalr one causeWay, other adcQrgr means of crossing the sane
 2S. The President and Directors may fix the sala reS ot the President, and Vice President Sccrcar Treasurer, and all other officers agents and servants of sad company, and take security from them whl eXpedlent; but no director shall receive any compr sahon for his services as director.
 $ 29. The President and Directors mav if they consider It eXpedent, receive subscribtonS for stock payable III labor or materials, in and for the road be done or finished under the superintendence of the directors ot said company. officers appointed by them, bond being taken to the company with security Tor the faithful performance of the work, or furnish ing of the materials. No Director, Treasurer, Eng neer Clerk servant, other officers of the company shall be an undertakers contractor of for any work on said road
 80. At the expiration of this charter or wheneyG the dissolution of corporation shall render its qmda ton necessary three commissioners shall be eectedW the stockholders whose duty it shall be to take pos session of the property of the company, and condu4 Its business to final liquidation, such terms and such manner as shall be determined by the meetI- ot stockholders whercat they elected which mee
 ing shall be regularly convened for that purpose a If at the expiration of the present charter, maorF of the stockholders, in number and amount shall ts sire to the same for further term the stock holders dissenting from such renewal shall be bouI