Des Arc citizen., 1866-06-09
...'H VERTTAS. ONNIPO7.EN 35Esz5, .s,.
< DIES ARC, ARK, U J5NE 9s1S66:

 i shall subscribe for stock, in which case she Il mayappoint ahe iumber of directors to which
 she naybe. entitled, and, tliereupen, fhe same nHmbera of directors, previously y7elected, shall cease to be, ,directors4-frst, the one who received the lowest number of votes ;; then next, and Sd upward; and if 1t occur that two
 directors,'gor more, receive the same humber Il of votes, one or more of whom must go 0out, theImatter shall be decidedbg aot, iandthedi- 'rectors so fappQinted by the State, with the
 residue of those elected, shall constitute the
 Board for the residue of the term; provided, I that in no event shallt the President be- dis placed, ,tor ceasetolbe President by the ii5coml ing qf, suchf appointed directors, no matter
 what was his vote for director. q ,.{f offes.f, r. 2 10. The election for directors shall be annual, and each board, stibseqa1ent to the first, shall be elected on 4heR second Monday
 in December Afailiireo to elect or appoint directors shall not dissolve the corporation,
 but the board in office shall continue the exer-
 else of it's functions until new board can be
 elected or elected and appointed" All notices
 of elections and of meetings of stockholders.
 after the first election, above provided for,
 shall be given by publication, least fifteen
 days in advance 'inspch, newspapers inAthe
 counties through which said road passes, as
 may be selected by the President of said Com
 pany, and all elecfions, including the first,
 shall be held at8the dnmicil of tlie Company, ! ats such, ,plaee, there, apd between suchghours
 as shall; ;, be fixed by tAq authority ordering
 Such ifotice, '"'
 ao 2 ll.a The following pefsoiisa are hereby
 appointed Commissioners for stiie purpose of 1 receiving subscriptions to the stock ofa said asco1.boration, viz: From the eityfof Des Arc, Jim Prairie county, J. 1T. Quisenberry. ]. e.
 MorfillbW! B. Crocker and H. r. VauSnah. From Hickory Rlain, in Praipie county, h.D,s Harshaw, A. J. Thomas and W,s L.gMoore,
 From Austin in Prairie county k 2. skjileprn, Xxi
 T. J. Payne aud w. c. Robinson. From, the
 town ofI;springfeld and county of Conway
 s. s. Ford, R.oS Cargile,GJ 1iardings J. Nra
 Venable and R. W. Harper. From Dardan-l
 ellie and the county of Yell G, ". Lemoyne,
 John I. Stirinhn and John IT. Jones From 4 FoH Smith, SOL Y. Clark ant'A "A. J. May CTS. z, 12,a TAe,sad Commissioners Ishalls have power to appoint, deputies pnagents eip other \ places for the purpose of receiving subscrip-,
 tions; tand they are authorized fo open the l, books of said Company, fore sdBscriptonsY to- I stock, without giving further public notice of Fthe same; all subscriptio9s spall be returned totthe domicil at Des Arc, and the Commis-
 sioners at oDes Are sbail lave the same re-
 corded initbe Recorders Office, of he.county
 of Prairie, and otherwise, disposedeofg as niay
 be required by law. sa,ess ssS ni <, r. q2al3 The directors shall elect one of their 1 body as President, and another as Vice Presi- dent ofNthe Company, at their first meeting, after the election, and eaclr subsequent board shall elect one of themselves as President, and
 onelas Vice ,Presidenty at the first meeting
 held by said board. The President shalL vote only when there is a tie in elections, and ! when theayes andnoes are csflled.' The Vice sPresident shall not vote while acting as Presi- dente Immediately after the eleetiomof the first board of directors, subscription lists shall lYagain be opened for the term of four months, lqinthe State of Arkansas, and elsewhere as the Ii Boagd of Directors may deem advisable and tpubiic notice thereof shall be given in n anewspaper Gf there be any) at each place where subscription books are opened, and the same Commissioners may act, or the board 1 may appoint agents forfeceiving the subserip-. | tions At the end of said four, onths, if, the
 amount of subscriptions shall exceed the capi-, |. .tallrequiretl, a meeting of tho stockholders
 and sqbscpihers' shall abe held. to determine whether the capital shall be increased to the Iiwhole amount of subscription, .whicheif they do determine, may be done; but the capital be not increased then, the number of shares of stock subscrbedj b after the election of the first directory, except those taken by e'State | or counties, shall. be, reduced yudeductionss from the.largest subscriptions, so as not to dr
 minish the 'hum Der of shares of any subscriber whilst another (eKcept said subscribers, prior
 tol,the election of directors, and eEoepS the State and counties) remains with a larger, number Of shares if there still be deficiency in the alnount of capital subscribed, the said subscription books may, be 4reropened andt closed, from time to time, until the whple cap ital shall have been subscribed. It shall be the, duty of the Vice President to perform the
 duties of the President, in case of the absence or other inability of the President to actias PreFident, and he shall receive no, compensa-, ton except whife he is acting as President, provided that the President sRalf not at the
 same mereceiye any compensation. 7Hcl o8s9 pf2f14. Until the inst board of directory iss organized, the persons above specially namedi sec. l, shalf, for all purposes of iorganizar, tion, and other preliminary purposes const-
 t,te ar Board of Directors, with authority to procure, satathe cost of the company, pre- liminary examination, reconnaissance and sur
 vey of the route between Des Arc and the most
 practicable eonltecti6n, at or near Dardanelle with the Little Rock and Fort Smith Railroads And it shall be- thsir special duty to gprocurei from persons, on the whole line of the road
 rellnquishnients to the Company of the right of wa& to whichendthe Company binds itself to pay for all incidental expenses ofreconnoi1a sauce, printing. and advertising inourredEby them; and authority is hereby given them to- employ and pay all necessary agents to obtain
 such relinquishments and do anything necessa- ry to the organization ofsfre Companys
 n 15. In the case of failure on the part of. any subscriber fo pay any installpent on his stock 7 when, and asrequired, the amount due Eshallsbear interest at t he ratesoften per cent
 per annum, from, the timeit falls due. Thel board of directors shall have thaf,,o,,,o, thirty days Written notice to tue deGlnlter. to
 forfeit Ills stock and sch at auction, for the
 benefit and atatherisloof saidstoekhold2&h s,
 sue hifh for1aay s4ss' or tt,oseompel by suit t'.Ea m ,spi # E'N,ig, ra;sfad i' ,pp ,Atgekhel 4ee shall bsgperl tal'eeu tp vpttsp speFs6nally oFby proxy, for him self, er.ss proxy fog anotset, whhe' in deict.' 2 l6 Al mecting gs of st4clspolders Shall be cpnlposedoas persons. orocefpoTatisns, or the the Agents aficoFpor qrpelsgns helding t in the aggregate more than one-hhk of the
 stock.of the Company talaea and subscribed for. in order. fos la valid npfl hirdno IIeil