Mariposa Democrat., 1857-04-01
ARTICLES OF ASSOCIATION
For the Formation Of the nInriposa Telegraph
Company.
- X H A NJ u L r


WHEREAS H. r. GRaIAM Co.. all of Stockton, in the State
Of California being desirous to organize Company under
California for the construction of Electric Telegraph Line
| from Marip0sa 10 stockton, via
And Articles of Association being requisite to carry the
into effect the following has been agreed on by the
said Graham Co. and all other parties whose names may
be subscribed hereto as Stockholders, viz
ARTICLE The company shall be known by the name Of
"THE MARIPosA TELEGRAPH COMPANY. "
The Capital Stock the Company shall be Twenty Thousand
Dollars with power to increase the same by vote Of two.
thirds Of the Stockholders And the stock shan be divided
Of One Hundred Dollars each aud represented by
certificates Of shares.
ATncr 2 The certificates Of Stock shall be issued by the
Board Of Directors signed by the Secretary and counter
signed by the President of the Company in the form follow
| ins srAEn',,sa, eomPANr
! II Is hereby certified that ia
entitled 10 One Share Of Stock Of One Hundred Dollars, in
the Marp0sa Telegraph Company This Stock is transferh
bic only the books Of the Company by assignment in
writing and surrender Of This certificate to the President
Of the Company and the holder Of this certificate by the
acceptance thereof shall become party to the existing
tcles association Of the Company, and shall be bound
thereby as II an original subscriber thereto and shall en-
titled all the privileges and subject all the obligations
Of an original proprietor of said stock.
This stock is subject to assessment in testimony
whereof the Company have caused this certificate be
signed by the Secretary and countersgned by the President
day of AD.
ARuIE 3. No officer, member agent of the Company
shall have power incur any debt pecunary obligation
for, or in the name of the Company.
ART1uE Twenty five cent OF all subscriptions TO
the Stock shall be paid made PAYABLE to the Directors
Immediately upon the organization of the Company 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
previous TO the time Of payment and the call shall be by
nstament Of not than twenty live dollars each
share and at intervals such the progress OF the work may
demand
The certificate Stock shall be issued each subscriber
whcnC the full Of his subscription shall have
been paid and not sooner and they shall be by
Of the original 70 the IfSsieSt.
AK1tIT g. Each share Of shall entite the holder to
by all matters OF business
or election Of officers.
ARr1r As soon "a the amount Of stock required for
the constructing said line shall have been subscribed for by
de and responsible subscribers, the said Graham
Co shall notify meeting Of the subscribers. both by pub
lie advertisement in the papers, and notice transmitted
by mail to each Stakeholder ten days at least before the
time appointed for such meeting, to be holden at such time
and place the said Graham 4 Co. may select Al such
meeting President shall be chosen who shall be oco
Directar and also Board Of Directors consisting OF five
persons three Of whom shall have power to transact any
business also Secretary and Treasurer the whole to be
elected by the votes Of the holders Of the majority OF the
Stock Of said Company represented at such meeting IN per
sou or by proxy said officers to continue IN oAce one
year.
Article l. Each officer and agent Of the Company shall
he subject to removal from hs Office by vote Of two thirds
Of the Board Of Directors who shall in such case or in case
Of the resignation or deeease of any officer Of the Company
next annual meeting Of the Stockholders.
ARTICLE s. No person shall be eligible to Office unless he
shall be sockholler owning Stock absolutely and in his
own right.
Article o. It shall be the duty of the Board of Directors
to call special meetings Of the Stockholders whenever emer
qences require H. Ihey snail use W
urge forward the work to the completion OF the Inc 10
that failure the part of the Company permitted
to obstruct reard the progress OF the work IN he hans
Of the contractors and upon the completion Of the ne 10
inspect the same and upon neng y % comply WIN .no
the balance Of the Instruments que on
said contract 80 a.,
ARTICLE TO- 1t shall be the duty OF the President of tho
Company to preside at all meetings Of the eoeknoes anu
the Secretary shall keep and preserve the records OF tho
proceedings Of the Stockholders at all Their neengs ana
the same shall be open all times TO the inspection OF
Stockholders The Treasurer shall when requested give
bond Directors for the benefit OF the Company salts
facory secured the faithful discharge oi s duties,
and shall keep account Of all his reeeps and dsburse-
ments. -, = r. ,., ,.,
aree with the other Subscribers hereto to construct and
Greet line Of Telegraph between Marposa and Stockton,
% nroyided in the Preamble of these Articles of Assoca
lion MI; the line shall be constructed with iron wire
of the quality size not less than No r. properly secu-
cured and insulated and supported BY poles Of the requ
site height and strength there shall be requisite magnets
registers and batteries for the places mentioned in the Pre-
able these Articles Of Association said line to be com
peed as aforesaid within six months after the payment
Of the first nalment on the stock as provided V Article
unless prevented by default the part OF tho Com
pany by unavoidable accident, by obstruction occur
ring 10 the Contractors for the Of Twenty Thousand
Dollars be paid to the said Graham Co. in cash. in four
equal nstaments at intervals nearly equal as pracca
bic The FIRST nsalmen to be paid upon the organization
the Company and the last upon the completion Of the
work and the said Graham Co in consideration OF tee
promises and of one dollar each of them paid the receipt
whereof Il hereby acknowledged do hereby further fomse
agree with each Of the other subscribers heeo hat
a. Son a M saia line of learanh and instranens shall
he made constructed erected and paid for 50 aforesaid the
line and all the instruments and aparads shall be owned
by and be the property Of the sad harposa ieegrah
Company ,.-,,,
In consideration of the foregoag and OF our Individual
benefit and advantage whose names are hereto Subscr-
bed make and confirm the above Articles Of Association
and agreement and agree each for himself 70 conform TO
and execute the same ard the contracts aud undertakings
number of hares stock said Company set opposite our
names, - - ,-.,,,,, m
att IL kOhsii-AA " w.