Des Arc citizen., 1866-06-09
ci IAN ACyTa ~ '2Fg. 'sf1,ef TO aTNco RPoRATEs T , a'sS1 THE DIES ARC AND .DARDANELLE
Ssst ltfl73 sss Ss5sss,;
1s:-A.IILRoAD CoMPAN4,

s'a Ef7i sE Ssasssss
 l Iss1A5ItLI-lROAD 1T -l COMPANH, q ln 1. BE IT ,EINAcEEp |, pYe THE GiEsERA1 ASSEMBLY OF TIE STATE OF oEpARKAYsAs--.
 l That John H. Quisenbefrv, John c. Morrill ]YJ. F. eGatewood, T John Jackson, Vim. B, I fCroeker, Jno. $, Pearson, sJno., s. Williams, \ Russ Evans, Sim Horne, A. 0. Edwards, A. J. Thomas, BsC. Totten, John C. Datie, D. ] Harshaw, J. M.i Venhble, ,R. WiHmper, An I derson Gordon, G. W. Lem6yne and J. l. l Stirmaalsshall compose said corporation With such other persons, Interpretations, sStates, Counties ntl and Cities as may subscribe, to stock in said Company, and comply with the fprovisions contained in this Act, and, also. I with the by-laws, rules and regulations of I said Company, and the general Law of the land respecting the same. .fs,., ,.- ,w
 7. That the said corporation is establish, \ ed forth purpose of constructing, working and maintaining assRailroad from Des Are, to lhtersect with the Little Rock and Fort Smith I Railroad, at the most practicable point, at or < near Dardanelle, in this State. AJ
 ie,S 3. The corporation hereby created by it's corporate name and sty aforesaid, ,rshall Il nave tsuccessssiIon for ninety7nine yearss and be em- l powered and entitled to sue and be sued, plead and be impleaded, grant ndtake by grant, contract or release, purchase and hold land and chattels, and have a common seal with power of alteration, and all other such ordi- nary and necessary powers, lbeftes,' franchf- ses,' privileges and incidents of bodies, ,corpe- rate and political, as under this Act, and the general Law of the land ;it may legally take, obtains. hold, possess and joyas l1q 8dA # le %l4, The capital stock of this, company is fixed at $l .750, ,000, lone million seven hundred and fifty thousand dollars, divided into sev- enty thousand shares of twenty-five dollars each payment Of five per cent. Acn each share shall be made when-the sum of one hundred thousand dollarss shall have been subscribed, The subsequent payments shah |, be made in sums, and at such periods as-shall be fixed by the Board of Directors; provided that the call shall not be made for more than ten per, cent, at any one time, and that sixty days notice of each callgshal be given by pulp hcaton in one newspaper published in Des Are and one in Dartlanelle, and one in Fort smith and in case no paper is published at either one, or any of the ab6y named pIaces
 then publication to. be cmade i,i any paper published in any of the-eeunties through which saidy road, shall pass; ;. and, aalso, in some paper published i'll the city .of1Lithe Rock and not more than three calls shall be made in any one year. '' a4'' '@
 z 5. The State of Arkansas, and the sev- eral counties onthe line of this road, or else where. inatllssSt ate, ma ysbeconic stocllfoldefs ln said company, by subscribing for stock therein; andein case anyor either of them do so, they shall be represented in the directory in the manner hereinafter ,proEidesl.s isari 9GI T q G., The said corporation shall go into operation and besorganized as soon as shares of stock to the amount of $l00,000 one hum dred thousand dollars shall have been subs scribed. , t .,s s-s s,,ra hue .s,nifst1t5s5 r
 7.a The business ofthe corporation shall lbe conducted at it's donMclin theacity ofaDes Arc, in Prairie county, in this State, by Q boafd composed of nineteen directors, who shall be stockholders. A quorum shall con- sist of at least seven directors, At iallgelec4 tions by the stockholders, and at all their meetings each share shall be entitled to one vote, with the exception as tor the election for directors of the, State as heReinafter menl tioned. Voters may vote in person or by proxy. n Counties becoming stockholders shall vote by such person or O. # cen as shall be des. ignated by the GoFernorqog by law, if any law on the subject be- ienaeted. Other votes may be given Tn person or by proxy; but no person shall vote more than fifteen hundred votes by proxy; and after, the, first year. all shares of stock must be owned or possessed by the voter in his own right, or by his prin- cipal three months before they are voted on. The President of the Company is fhe officer designated qS the-one on whom legal service otsall process or citatons,I writs lor notices Ragainst or to the companNnlay be made, and the company agrees: to be,bound by such ser-i vices whether made on the President in per-, 9sonl or left, in writing, to hisraddress at, the office of the company, in the handscf anyaof it's officers. yfslgl3saqas1 yio3
 7S &. The first board, of directors shall be chosen as soon as the first lists of subs6rip2 tion shall be closed. The election for the first board shall be held in the city of Des Arc, at such time and place as shall be desig
 mated by the eomnfissioners ehhtged with ire- ceiying subscriptions, as hereinafter named. Notice of such election shall be .given by twenty days publication in such newspapel's' in this Stateas the Commissioners may select. In case the State shall not, at the time of such
 election, have subscribed for any stock, nine. teen directors Fshall 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 ,{SlOQ QO0L; .tp two, ifshe spb7 scribe two hundred thousand dollars S200,- 000 and so n;ggisings aonei direetor for every hundred thousand dollars subscribed to be selected4and appointed-by the Governor,
 
 terms of service at the same time with the othei. directors elected by the stockholders at the first regular election after such stock is. taken by the State; and whepeyer stock shall be subscribed by the State,. and directors ap- pointed or selected by the proper officer, or in such way as, by law. she provides, prior to ana general electi9a,l the stockholders shall, thereafter elect oniy so many directors as will mako with thQsera PBointed or, selected by the State the number ol aipeteen,, The State shall have, no vote jn7 the election ofisuch other direetors,b bRti in phsotber votes, and at all meetings of fothe stockholders ;''she shall have one vote fer every share of stock Gsao- subscribed by her, no bs cast n sqcaAmanHes and by such officer or oficers, persaa -or per- sous, as sheshall, bylaw ssdfreeE 97 '43t.'l s, sf 2, 8. The irst election isRHll bd held under the superintendence Of three ofthe Comnis- sloners to receive stock at Des Arc; ana all subsequent elections under the .superinfen- .dence of thre6 iasmhfssiqners, to be appoiated from amqug Elie gioekhoIders, by the, Board of Directors, for etime being The first Board of Directors shall hold their office until the