The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1858-09-18

Cedar county. With the views, We have
resolved to build eight miles to connect
with the G., l. Il N. r. II. We feel it
important that tho road should be built
south, and are ready aud willing to do
oil that We can in assisting it, although
We have already undertaken heavy task
for our little place, aud as much as we
can be asked to do. The plan Of organi-
zation rests with you. Our design in
having scoerate organization for our
road was to keep the complete control Of
it, because companies like individuals can
best manage their own affairs themselves.
We are hearty glad to meet you in this
work, and to aid you in every way in our
power.
A committee, consisting of Geo. G.
Stone, j. Scott Richman, Thos. Hanna,
William II. Tuthill, and John gilbert
son, was then appointed to draft plan
of organization and report at IL a clock
which at the time appointed reported as
follows:
Plan Of Organization Of the .Muscatine
Branch Of the Upton X. Il. Co.
LIST. That the 7. r. r. Co authorize
the construction of branch of this road
from some point at or near Upton, in
Cedar county, to some point at or near
Wilton, in Mnscatinc county, and au-
thorize the opening of books for SUBJ
scriptions to the stock of said branch, in
Upton, Wilton and Muscatipe.
I'd. That the capital stock of said
branch shall be 100000, divided into
shares of $50 each.
3D.. That the affairs of said branch
shall be under the control of FIVE Direc-
tors, two of whom shall reside in Cedar
county, aud three in Muscatine county;
the said five Directors to be part and
parcel of the Upton r. r. Co.
4th. That the finances of the branch
and the main road shall be entirely sepa-
rate, and the main road shall not be re.
sponsible for any contracts of said branch,
nor shall the said branch be responsible
for any contracts or Indebtedness of
the main road, III less hereafter agre9d
9Th. The stock of said branch aud
the maine road shall be distinct and sepa-
rated Provided, that the same may be
consolidated by the joint action of the
said branch and the main road at any time
hereafter.
9th. The said branch shall have all
the rights and privileges conferred by
the charter of the Upton II. Il. Co. up
on the main line, or by the laws of the
State, and shall exist for the same length
of time.
7th. The said branch shall be called
the Muscatine Branch Of the Upton X.
r Co., and by that name may contract
and be contracted with, sue aud be sued,
and acquire and hold real and personal
property, and dispose of the same in
such manner as its Directors may deter
mine.
Sth. The five directors herein prov =
ded for, or a majority of them, shall have
power to bind the said branch for all con-
tracts by them entered into in behalf of
the said branch.
9th. The Directors Of said branch
may appoint Secretary and Treasurer,
and such subordinate officers as they may
uteEi nsStssiiy.
10th. The Directors herein provided
for shall be appointed in the first instance
By the Directors Of the L. II. II. Co.
and shall hold their Offices until the next
regular election by the L. II. r. Co., ct
which time aud thereafter the said Di-
rectors shall be chosen by the stockhold-
ers Of the said branch, and all vacancies
occurring in the Board of Directors of
the said branch shall be filed by the Di-
rectors thereof
18th. The principal place of business
for the said branch shall be at the city
Of Muscatine, and the annual meeting
of the stockholders shall be on tue same
day with that of the meeting of the stock
holders of the main road.
The report was unanimously adopted,
to be submitted as the action Of this
meeting to the approva! OF the Upton
X. II. Co. The meeting was then adj
dressed by j. Scott Hickman aud others,
after which it adjourned.
The following gentleman were nomina-
ted by the Muscatine delegation as the
Directors from that county for the Mus
catine Branch: j. Il. Dougherty, jos.
A. Green, and Thos Hanna.
GEO. SCHMUCkER, Pres't