Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1866-02-23
Iowa Central Railroad Company.
ARTICLES OF INCORPORATION.

ARTICLES OF INCORPORATION.
! BE II remembered that the persons
whose names are subscribed to the fol
lowing Articles of Association have as.
sociated ourselves together for the pur.
| pose of constructing, maintaining, and
operating Railroad from thu Soutl,
line of the State of Iowa by the way o
Oskn loosa, to Cedar Falls, In Black
Hawk County; constructing said Rail.
road upon and across all roads and
highways upon and along the liua oi
the same, and building and maintaining
all bridges that may be necessary To the
building and operating the said Rail.
road under and by virtue of the Fifty.
second Chapter of tRe Revised Statutes
or the State of Iowa of 1850, entitled
Corporations for peruniarv profit. u
and such other laws OF the State of Iowa
as are nmendatory thereto, and have
adopted the following articles of Incor.
pOration
ARTICLE |. The name of this Asso-
ciation shall be "The Iowa Central
Railroad Company"
ART. III. This Company assumes as
a corporation all the powers, privileges
and immunities specified i'm Chaptc,
Fiity-two of the Revised Statutes OF
Iowa of 1860, and all laws of the State
of Iowa amendatory thereto, and the
power of acquiring by grant, purchase
or condemnation, and holding, using
and transferring in any manner not
prohibited by law, all such real estate
ana personal estate, as may be required,
necessary and convenient to fully carry
out the object and purposes of this asso-
citation, in the proper prosecution of its
business; and the principal office for
the transaction of the business of the
company shall be at Oskaloosa, in the
State OF Iowa.
ART. III. Tho company shall have
full power TO sue and be sued, to adopt
a seal, to make all contracts for the pur.
pose OF building the said road and con-
ducting the affairs thereof, to establish
bylaws and regulations for the gov
ernment of the company, and manage
ment of the affairs thereof, not incon.
sistcnt with the laws OF the State of
Iowa.
ART. w. Thiscorporations shall COM
mence on the 5th day of january, 1865.
and continue for fifty years with the
right of renewal. The capital stocl,
ohali h~ si a uIfiiiun uoliars, winch shall
be divided into shares OF one hundred
dollars each.
AM. v. IS tilulTS OI ln1S COTDOr0-
ton shall be managed by twelve direct
ors, who shall hold their Offices until
their successors are elected and qualifl-
cd.
ART. vi. The Directors shall elect
from their own number n President and
Vice President, who shall hold their
offices for one year from the day of their
election, and until their SUCCESSORS are
elected and qualified,
ART. VII. The Directors shnll elect
Il Secretary and Treasurer, who shall
hold their offices during the pleasure Of
the Board of Directors. The Treasurer
shall be required by the Board to give
bond in such sum rs shall be required
by the Board, with approved security.
ART. VIII. No person shall be eli
giblc to the Office of Director. who is
not II stockholder therein. David Nor
gan, Henry Z. Pickrcll, Andrew G..
Williams, n. Il. Fisher, VIM. Pearson,
Jr., VIM. Il. Smith, Dennis Bryan,
Miles White, Samuel II. Shlpicy, Tru-
man Camp, Reuben Nickel, and Daniel
Anderson are hereby constituted the
Directors of this Company, who shall
hold their offices until their successors
are elected and qualified.
ART. TX. The election Of Directors
of this company shall be held on the
first Tuesday of January in each year,
except that the election i'm January, A.
u. 1866, shall be held on the 18th day of
January, A. u. 1866. In all elections by
the Stockholders, each person or corpO-
ration shall be entitled to one vote Tor
each share of stock owned by him or
her, and may cast such vote by any
other person by him or her authorized
ia writing 70 TO do.
ART. Y. Real estate, personal prop
erty, work and labor may be taken and
received as stock at such price and up
on such terms and conditions us may be
agreed upon with the Directors, and the
Directors are empowered to make such
arrangements and agreements with par
ties and corporations who may wish to
become stockholders in the company as
they may deem most advantageous to
the interest OF the company, and may
determine when and in what proDor-
tiOns the stock shall be paid.
ART. Nj. The Directors shall have
full power and authority to- issue bonds,
to borrow money and endorse any bonds
or other obligations which may he is
sued by any person or corporation, for
tile purpose Of assisting in the coiistruc-
ti0n OF said road, provided that the in
debtedncss of this Company shall not
at any time exceed the sum Of four mil
lion dollars, and the Directors shall
have full power and authority to pledge
or mortgage said road and property of
this Company as security for money
borrowed, or to secure the performance
of any lawful contract or engagement
or the Company.
ART. XII. The Directors may call
meetings of the stock holders ut all times
they see proper, and shall do go upon
the written request OF Il m ijority of the
stockholders, in interest OF which meet
ing they shall give 30 days notice in
some newspaper.
ART. XIII. The Directors shall have
power to appoint as many Engineers,
Attorneys and Agents, as they may
deem expedient and necessary to the
proper prosecution of the affairs of the
Company, but an entry of such appoint
ment must be made upon the books Of
said Company.
ART. XIV. 1t shall be competent
for the Directors to mortgage for n peri
od not less than ten years, or to lease for
a period not more than ten years, to
any person or company, the estate,
rights and franchises of which it may
be possessed, or to enter into "A running
arrangement with any other COM pany
or companies for not more than ten
years, il, in the opinion Of such Direct
Ors, such mortgage, lease or running
arrangement would facilitate the con-
structioD, or promote the interests Of
this company.
ART. XIV. All persons or corpora
fiOns may become members Of this Com
pany who shall subscribe one or more
shares to the capital stock, and seven of
the Directors must be and remain resi-
dents of the State Of Iowa, and said
Board Of Directors shall have full pow
er to fill all vacancies occurring in their
own body.
ART. XVI. The private property OF
individual stockholders shall he ex-
empt from the payment of corporate
debts of the Company.
ART. XVII. The Directors shall be
empowered to issue preferred stock In
payment Of debts of the Company, pro-
vided that the amount thereof shall not
exceed the amount Of paid up common
stock, nor shall the same draw more
than eight per cent. in dividend per AN
mum.
ART. XVIII. That no as,e ef tn.