The constitutional union., 1861-01-18


 slgnated by the Commissioners charged with receiving subscriptions, as hereinafter named.
 Notice of such election shall be given by
 twenty days publication in such newspapers
 ill this State as the Commissioners may select
 In case the State shall not, at the time of
 such election have subscribed for any stock.
 nineteen directors.shall be elected but if she
 shall have subscribed for stock or shall after
 wards do so she shall then be entitled to one director If she subscribe one hundred thou
 sand dollars, (S100 000); to two. if she sub
 scribe two hundred thousand dollars, (s200,-
 O00) and so on; giving her one director for
 every hundred thousand dollars subscribed; :;
 to be elected and appointed by the Cover
 nor, for the time being, so as to commence
 their terms If service at the same time with
 the other directors elected by the stockh0l- dors at the first regular election after such
 stock Is taken by the State.; and whenever
 stock shall be subscribed by the State, and
 directors appointed or selected by her proper
 officer, or in such way as, by law, she provides,
 prior to any general election, the Stockholders
 shall, thereafter elect only so many directors
 as will make with those appointed or selected by the State the number oI nineteen The Sute shall have no vote in the election of
 such other directors but in III other votes.
 and at all meetings of the stockholders; she
 shall have one vote for every share of stock
 subscribed ty Ser, to hc east in sach manner,
 and by such officer or officers. person or per
 sons, as she shall. by law, direct
 SEC. 9. The first election shall be held
 under the superintendonce of three of the Commissioners to.receive stock at Des Are and all subsequent elections undor the super
 intendence of three Commissioners, to be ap- pointed from among the stockholders. by the Board of Directors, for the time being. The
 first Board of Directors shall hold their office
 until the first day oi January, ci lteen hun
 dred and sixty-tLlea, unless, before that time. the State shall subscribe for stock. in which
 case she may appoint the number Of directors to which she may be entitled and, thcreupon. the same number of directors, previously
 elected, shall cease to be directors-Iirst, the
 one who received the lowest number of votes
 then the next and so upward and if 1t oc- eur that two directors or more, receive the ] same number of yoJes, one or more of whom
 must go out, the matter shall be decided by
 lot, and the directors SD appointed by the
 ttttN N'illi taAC N-bttc III ALGC ElCtLCU. Slldll
 constitute the Board for the residue of the term; provided, that in no event shall the President be displaced. or cease to be Presi- l dent by the Incoming of such appointed di- rect0Is, uo matter what Was his vote for di- rector.
 l SEC. 70. The election for directors shall ] be annual and each board, subsequent to the l first, shall be elected on the second Monday in l December. | failure to elect CT appoint direc- tors shall not dissolve the corporation, but the l board in office shall continde the exercise of ! is functions until 9 new board can be elected or elected and appointed. All notices of elections and meetings of stockholders. after ! the first election above provided for. shall be given by publication, at least fifteen days in advance, in such newspapers in the counties 1 through which said road passes, as may be 1 selected by the President of said Company. and all elections including the first, shall be held at the domicil of the Company. at such place there, and between such hours. as shall be fixed by the authority ordering such notice
 l SEC. H. The following persons are hereby ap- ! pointed Commissioners for the purpose of Ic- ] cciying subscriptions to the stock of said cor poratjou. viz; Erom the city of Des Arc, in l Prairie county. j. T. Quisenbefry, J. C. | Morrill, ". E. Crocker and Ii. ?. Vaughan l from Hickory Plain. in Prairie county. L. D. uarshaw, 1. J. TLama5 and ". j.. Moore from Austin, in Prairie county, I. C. Skillem, l '. j. Paine and ". C. Robinson; from the 1 town of Springfield and county of Conway, ! ;. $. Ford R. C. Cargile J. Harding. J. M
 Eenabie and B. w. Harper; from Dardanelle and county of Yell, G. ". Lemoyne, John 1 ]. StiInan, and john H. Jones from Fort [ Sm;th, Sol r. Clark and A. J. Mayors. SEC. F. The said Commissioners shall
 have power to appoint deputies or agents in 1 other places for the purpose of receiving sub scuptions; and they are hereby authorized ! to open the books of said company, for sub- scriptions to stock, without giving further no- ! tice Of the amc. All subscriptions shall be returned to the domicil at Des Are. and the ! Commissioners at Des Arc shall have the 1 same recorded in the Recorders office. of the county of Prairie, and otherwise disposed of as may be required by law.
 SEC. 13. The directors shall elect one of their body as President, and another as Vice President of the Company, at their first ] meeting after the election, and each subse- ] quent Board shall elect one of themselves as ] President. and one as Vice President, at the first meeting held by said Board. The Pres idmt shaH vote only when there is tie in ! elections, and when the ayes and noes are called. The Yice-President shall not vote
 while acting as President Immediately af-
 ter the election of the first board of directors, ! subscription lists shall again be opened for the term Of four months, in the State of Ar kansas, and elsewhere as the board of direc-' tors may deem advisable, and public notice ] thereof shall be given in a newspaper eff there be any) at each place where subscrip- tion books are opened, and the same Commis- sioners may act, or the board may appoint agents for receiving subscriptions At the end of said four months, if the amount of subscriptions shall exceed the capital requir-
 cd, a meeting of the stockholders and sub scrbers shall be held, to determine whether
 the capital shall be increased to the whole amount of subscription, which, if they do de-
 termine may be done; but if the capital be not increased then, the number of shares of stock subscribed, after the election of the first
 directory, except those taken by the State or
 counties, shall be reduced by deductions from