Des Arc citizen., 1859-04-08
DIES ARC AND ATLANTA RAIL ROAD - MEETING AT HICKORY PLAIN.

III oCNoiudhOS Witd HACfiOuo bOtlCCs tuS delegations from Pigeon Roost, Caroline, and White River townships, assembled at Hickory Plain, on Saturday the 2d day of April, 1859, for the purpose ofuniting up- on some feasible plan to build Railroad from Des Arc to Atlanta--thence 10 Fort Smith.
 On motion, Col. J. c. DAVE was called to the chair, and w. c. ROBINSON, Esq, appointed Secretary.
 The following delegations came for ward, and the Secretary enrolled their names, viz;
 PIGEON Roosr TowNsHIp-Dr. ". L. Moore, Levi Byram, A. M. Reinhardt, Asa PipLin, D. Harshaw and J. c. Davie.
 CAROLINE TowNsH1p.-A. B. Candy, ". Lewis and ". c. Robinson. WHITE RIVER TowNsHIP.-Dr. T. Sanders, Russ Evans, Le Roy Harshaw, J. A. Moon, J. r. Carr, Col. W. W. Wair and J. c. Morrill,.
 The following plan for organizing the DEs Aac AND ATLANTA RAILROAD Con- pANY was adopted by the meeting The undersigned, recognizing the necessity of a Railroad connection between Des Arc
 and Atlanta, and desirous of forming such
 connection, do form ourselves into q Joint
 Stock Association for that purpose, and in fartherance of the object proposed to be at tained, do agree to pay to the President and Directors hereafter to be elected by said
 Company, the sums annexed to our several
 names subject to the conditions and limita- tions hereinafter prescribed.
 ARTICLE 1.-The said association is estab- lished for the purpose of constructing, work ing and maintaining Railroad from Des Arc by wag of Hickory Plain, to Atlanta, in Prai- rie county, Arkansas.
 ARTICLE 2.-The Capital Stock of the Company is fixed at two hundred thousand dollars divided into eight thousand shares of twenty-five dollars each; payment of one and half per cent. on the amount of each share shall be made when the sum of one hundred thousand dollars is subscribed, which amount may be expended in having a survey of the route made and in liquidation of other incl dental expenses that may accrue. The subse- quent payments shall be made in sums and at periods such as shall be fixed by the Board of Directors; provided that sixty days notice of each call shall be made in the Des Arc Citi- zen.
 ARTICLE 3.--The said association, or com pany, shall go into effect as soon as shares of stock to the amount of one hundred thousand dollars shall have been subscribed and shall be organized by meeting of the stockholders at the town of Hickory Plain, as soon after that fact is known as possible. Said organization to be effected by the election of nine Directors to be chosenia the manner following, viz Each stockhoIder shall be entitled to a num- Der of votes equal to the number of shares he may have subscribed Share holders may vote either in person, or by proxy.
 ARTICLE 4.-The Directors immediately upon their election shall meet and organize by the election Of a President, who shall be paid salary of - dollars per annum, and Secretary and Treasurer to be paid a salary of
 - dollars per annum.
 ARTICLE 5.-The President of the Board of Directors shall be the legal representative of the Company, upon whom ali processes, citations, writs, or notices, to or against the Company shall direct, and the stockholders agree to be bound by such service.
 ARTICLE 6.-The President and Directors shall have power to do anything necessary for
 
 the Railroad hereinbefore mentioned, with as many tracks as they may deem necessary; to fix and determine the line of the Road and the depots that may be necessary; to make and construct, or procure to be made and construc- ted, any erectlons whatever, for the purpose and complete working of said Road; to con tract specially for work, labor, or materials to be furnished to the Company, and agree whether the whole or any part thereof shall be payable in the Capital Stock of the Con- pany; to hire and purchase hands and laborers: to appoint any officer servant, proper for the performance of any duty necessary to the construction and maintainance of said Road. to make all contracts for the furnishing of iron or other necessary equipments or supplies of the Road, on such terms and credits as they think proper; to borrow money for and on ac- count of said Road, and to mortgage said Road and it's appuftenances to secure the same: to mortgage said Road and appurtenances or hy- pothecate It's receipts to pay persons who take contract for building the same; provided, ney- ertheless that the Directors shall in no in stance issue the bonds of the Company or in any manner pledge it's faith for the payment of any sum beyond the solvent subscriptions, unless by the consent of the stock holders re- presenting two-thirds of the stock. When said Road or any part thereof is finished. to fix the rates of toll for passengers and mer- chandise; 10 accept donations in land or money. or such materials or labor, as may be necessa- " to the Company; to accept reinquishments of right of way or purchase releases of the same; to make all bylaws, rules and regula- tions deemed necessary, or convenient for the proper, safe, and regular transaction of the business of the Company-such rules, by-laws and regulations being subject to repeal change. amendment, or modification, by the stock holders at their meeting or by said President and Directors, in the intervals; to declare semi-annually the dividend or dividends aris- ing from the working of the Road or any part thereof, after payment of all necessary ex- Penses, which dividends shall be declared and payable within the months of ---and--- of each year. They shall make a report in full detail to the stockholders upon the- day of----of each year of the working of the Road, and its expenses and profits, as also, detailed statement of all contracts during the process of constructing the Road and its bridges, with an account of the progress made; they shall cause to be kept regular set of books, in which shall be entered, in the reg Hlar order of their several dates, all business oy other transactions of said Company. which books shall always be open for the inspection of any stock-holder, at the office of ihe Com pany, during business hours of the day; they shall keep a stock book, and certificates shall be issued to the stockholders, and no transfer