Butte record., 1856-07-26
Secretary.
President.

cOunterSlgneu by the PRESIDENT at --
on this - day OF - A. b 1856
- Secretary.
-- President
ARTICLE llI.-No officer, agent, or mem
Der of the Company shall have power to in
incur any debt or peouniary obligation for.
or in the name of the Company.
ARTICLE IV.-Twenty five per cent Of all
the subscriptions to the stock shall be
paid or made payable to the Directors, i'm
mediately upon the organization of the Com
pany by the election of its officers, and the
residue shall be paid to the Directors when
called for by public notice at least ten days
before the time payment, and the call shall
be by installments of not more than twenty
five dollars on each share, and at intervals
such as the progress of the work may de
mand The certificates of stock shall be is
sued to each subscriber whenever the full
amounts of his subscription shall have been
paid, and not sooner; and they shall be
transferable by written transfer accompa-
nying the certificate, and surrender of the
original to the President. If any subscriber
shall fail to make payment Of any Install
ments for the period of fifteen days after
such time for payment shall have expired,
he shall forfeit his stock and all prior pay
ments made thereon; but in no case shall
any subscriber be released from these obH-
cations provided the contractors perform
their work as per contract.
ARTICLE V.-Each share of stock shall
entitle the holder to vote, in person or by
proxy on all matters of business or election
of officers.
ARTICLE NI.-As soon as the amount Of
stock necessary for the construction Of the
i T l, bao hec ;halF e. l,y
bona fide and responsible subscribers, the
said johnson and Senf shall notify a meet
ing of the subscribers, both by public adver-
tisement in the newspapers and Il notice
transmitted to each stockholder at least one
week before the time appointed for such
meeting to be holden at Orovlle or MarJs
vile as the said johnson and Senf may
lect. At such meeting n President shall be
chosen, who shall be ex-otiicio Director, and
also Board of Directors consisting Of five
persons, three of whom shall have power to
transact any business, also a Secretary and
Treasurer the whole to be elected by the
votes of the holders of a majority of the
stock of Said Company represented at such
meeting, in person or by proxy; said Off
GERS to continue in Office ole year.
ARTICLE VII Each officer and agent Of
the Company shall be subject to removal
from his office by vote of two-thirds Of the
Board OF Directors who shall in such case,
or in case Of the death or resignation of any
officer of the Company, have power to fill the
vacancy by reelection until the next an
nual meeting of the stockholders.
ARTICLE VII.-No person shall be eligible
to Office unless he shall be stockholdev.
ARTICLE lX.-It shall be the duty Of the
Board of Directors to call special meetings
of the stockholders whenever emergencies
may require it They shall use all proper
means to urge forward the work to the COM
pletion of the line, to see that no failure on
the part of the Company is permitted to OBJ
struct or retard the progress Of the work IN
the hands of the contractors; and upon the
completion of the line, to inspect the same,
and upon finding it to comply with the con
tract, to accept it in behalf Of the Company,
and pay over to the contractors the balance
of the installments due on said contract
ARTICLE ut shall be the duty Of the
President of the Company to preside at all
meetings of the stockholders The Secretary
shall keep and preserve the records of the
proceedings of the stockholders at all their
meetings. and the same shall be open at all
times to the inspection of the stockholders
The Treasurer shall when required give
bond to the Directors for the faithful DIS
charge of his duties, and shall keep an ac-
count of all his receipts and disbursements
ARTICLE XI The said johnson and Sent
hereby promise and agree with the other
subscribers hereto, to construct and erect
Line of Telegraph from Marysville to Oro-
vile as provided in the preamble of these
articles of association, according TO the fol-
lowing specifications, viz: The line shall
I Il. IF
bualitr, of the usual size, properly insulated
and secured by supporters of the requisite
heightl and strength. There shall be the
requisite registers, magnets, batteries and
other necessary apparatus for the Two places
mentioned in the preamble OF these aruc'e5
of Association Said Line to be completed
as aforesaid within four months after inc
payment of the first instalment on the stock
as provided by article 4, unless preven'ed py
any default on the part of the Company, or
by unavoidable accidents or obstruction oc.
curing to the constructors, for the sum OIL
$40 900. to be paid to the said johnson and
Senf in cash. in four equal installments al
intervals as nearly equal as practicable
the first installment to be paid within thirty
days after the commencement Of the work.
and the last upon the completion thereof
and the said johnson and Senf in consldef'
alton of the premises and of one dollar TO
zach of them paid the receipt whereof Is
hereby acknowledged, do hereby ; further
promise and agree with each Of the suoscrl-
bers hereto, that as soon as the said Line oi
Telegraph and instruments shall be maue.
constructed and paid for as aforesalu' .no
Line and all the instruments ana apph'a'u,
shall be owned by and be the properly oi
the said 81 Orc Telegraph Company. IN
consideration of the foregoing and oil inui-
vidual benefit and advantage, we "no'o
names are hereto subscribed, make ana con,
firm the above articles Of association anu
agreement, and agree, each for himself to
conform to and execute the same, and the
contracts and undertakings therein set for'h'
and we do further agree to take the nunher
of shares of stock Of said Company set oIpo-
site o,r names C. F. JOHNSON,
GEO. SENF.