The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1856-06-19


holder in some one of the companies,
parties hereto. Should neither OF the in
Ispectors attend at the time and place ep-
pointed for election, the stockholders
present at the time fixed for opening the
polls, shall have power by the vote of a
majority in number of those present, to
choose three persons being stockholders
in one or more of the said companies,
whom. or any two of whom shall have
power to act as the judges of the said E.
lection. All stockholders in the several
companies entitled to vote at any election
OF directors in the several companies par
ties to this agreement. shall have the right
;sc vote at the said election in person or
by proxy, and shall be seyerally entitled
to one vote for each share of stock being
Fifty dollars at par) held by such stock
holders in either of said companies. The
fifteen persons being stockholders in some
one or mora of the said companies. parties
hereto, receiving the highest number Of
votes at the said election, shall be the first
directors of the Pittsburg. Fort Wayne
and Chicago Railroad Company, and shall
hold their Office for one year. and until
their successors are chosen according to
law.
ART. 8. Said Directors shall, at the
first meeting after the election, elect a
President and Vice President from their
own number, and shall also then, or as
soon as conveniently may be thereafter,
elect or appoint Secretary and Treasurer
of said company, and such other officers,
Engineers, Superintendents, Clerks, A
gents, Assistants and other employees
as they shall from time to time find neces-
sary for the proper transaction Of the bu-
siness of said company.
ART. A. After the consolidation here
in provided for is perfected, and after said
t first election, stockholders in said consoli
dated company only by surrender and ex-
change Of their certificates. in their seve-
raj companies or otherwise, shall be enti-
tied to vote at any meeting of the stock
holders of said consolidated company.
ART. S. The capital stock Of said
Pittsburg. Fort Wayne and Chicago
Railroad Company shall be sixteen mil
lions of dollars, to be divided into three
hundred and twenty thousand shares Of
fifty dollars each, and the directors ol
said new corporation may increase the
capital stock thereof when necessary.
ART. 6. II being agreed that the es-
tate, property and franchises of the said
several companies parties hereto, which
in pursuance of the laws of said states,
will rest in said new corporation, are rela-
lively of unequal value, the parties here.
! to, with a view to make compensation
for such differences to the stockholders OF
the said companies respectively, do FIX
upon the following amounts to be allow
ed therefor, by the issue of certificates or
scrip as hereinafter mentioned to wit:
/ /. The stockholders of the said Ohio
and Pennsylvania Railroad Company shal
each be entitled to one hundred and TWEEN.
ty dollars of the stock of said Pittsburg
Fort Wayne and Chicago Railroad Com
pany, for each one hundred dollars o.
stock held in the said Ohio and Pcnnsylva
MIA Railroad Company.
g. The stockholders of said For
Wayne and Chicago Railroad Company
shall each be entitled to one hundred ane
sixty dollars of stock of said Pittsburg
Fort Wayne and Chicago Railroad Com
pany for each one hundred dollars of stocl
held by them in said Fort Wayne ant
, Chicago Railroad Company.
g. The stockholders of the Ohio anc
Indiana Railroad Company shall each b.
entitled to Fifty dollars in the stock Of sait
Pittsburg, Fort Wayne and Chicago Rail
road Company, for each share Of stool
held by them in said Ohio and Indian
Railroad Company.
ART. 7. All stock and bonds of eithe
OF the companies, parties hereto, owne'
> or held by either of the others of sal,
companies. and now or hereafter in thei
control, shall be surren dered and uer
ged in said consolidated company, there
. by lessening the capital stock and liabili
ties Of said consolidated company to tn
amount Of such surrendered and merge
d stock and bonds. '''-'
: ART. 8. The holder or holders Of an
:, convertible bonds of the several compa
'f MES, parties hereto, shall be entitled {
J. receive, on such surrender of such bond
n according to the tenor thereof to the sal
y consolidated company, stock in said cor
solidated company for the bonds SO SUI
l. rendered.
e ART. 8. In all cases in which sui
re- scriptions or agreements with either
e said companies. parties hereto, for tt
'f stock of either of said companies, hay
= been heretofore made by any person {
T, persons, or bodies polite or corporate, an
! said subscriptions or contracts for stoc
: yet remain unpaid or unperformed, eithf
= in whole or in part, the stock of said COZ
" solldated company, may. upon paymer