The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-10-21

:,
Notary Public in and for the PARISH ana
State aforesaid, duly COMMISSIONED ana
sworn according to law. personally came
and appeared
! j. w. Clements Ii. w. Kir|>pntrirk.
/ Allen c. Hill, Leon Kern,
j. d. Pennington. II. G. Mitchell.
James W. Wilson. j. Il. Tignor,
I John b. Burton \. w. Palmer.
! Willis NJ. farrell. J. +. Meadors,
T. +. Hays, E.S. Pipes
r.. Il. Dawson, J. J. Duke,
/ Henry d. Phiips NJ. G. Stalnper.
/ ii. w. Patton,
Who declared that they, with all others
I who may hereafter subscribe stock, have
| this day, and do by the execution OF this
act, form and organize themselves into
body corporate under the name and title of
the Trenton, Homer & Fulton Railroad Com
panv, whose domicile shall be in the town of
| Trenton, i'll the parish of Ouachita, for three
years from this date, after which Tune Il
| Shall be in the town of Homer, in tho parish
of Claiborne, Louisiana, for the purpose of
constructing, operating and keeping in re-
west bank of the Ouachita river, in the Da-
| Vid Hasley farm, near the Residence of DIR.
Blocker, the town of Trenton, louisiana,
and thence by way of Townsville, in the
parish of Union, and from thence to or near
! Lisbon and Arizona, to the town of Homer
in the parish, of Claiborne, from thence pas
sing within five miles of the town of Atlanta
to the town of Magnolia, county of Column
! bia, from thence to Louisville, county OF
of Fulton, county of Hampstead, state of
Arkansas.
SECTION =.
Said railroad to be used in transporting
! freight and passengers, and also for the
purpose of constructing, operating and
keeping in repair, a masnetiG teiegraph line
. Fulton, Ark, for the transmission of mes
sages. The President of said Company is
I hereby designated as the officer of said Com
pany upon whom citation shall be served.
SECTION 3.
| The capital stock of said Company is
hereby fixed at fifteen hundred thousand
dollars divided into fifteen Thousand shares
of one hundred dollars each.
SECTION !.
| The stock subscription Of said Company
shall be payable when called for officially
not to exceed ten per cont. of the amount
subscribed, and not to exceed three calls
per annum, notice Of said call to be given
by the Board of Directors, by advertising
the same thirty days in newspaper pub
lshed ut tho domiclc of the Company, the
Claiborne Advocate aud tn" Little Rock
Gazette.
Any stock -holder falling refusing neg
Letting to respond to the call thus made, by
payment ofthe amount due on his subscrip.
ton, then the whole amount of tho stock of
such delinquent shall mature and become
collectable at once with per cent. interest
thereon from the date of call, and the Conn
pany shah issue certificate of stock for
| tho amount so collected.
Tho Board OF Directors shall be elected by
the stockholders of the Company, and each
share shall be entitled to ono vote in all
elections and the votes may ~, be cast , IN per
| the proxy shall have written authority from
his principal. a majority Of the votes cast
SECTION Z.
! The Board of Directors elected ut the first
! election under this charter shall continue
| in Office until the first Mond lay in October,
/ 4 md IaS
| Board OF Directors shall take place on tho
first Monday of October 1872, and annually
| thereafter the first Monday in October
at tho domcile of the Company.
SECTION $.
Tho first election under this act of incur
poration shall take place Immediately after
signing of this act, provided thcro DO one
hundred thousand dollars in stock sub
Scribcd.
SECTION 9.
Any failure the part of the stock-hol-
ders TO eloct Board Of Directors, as provi-
dcd, shall not operate dissolution of the
Company, but the old Board shall continue
in Office until their SUCCESSORS are elected.
SECTION 10.
The President of the Company, who shall
be Il stakeholder therein, and II member of
the board Tho first President chosen un-
der this act of incorporation shall be elected
immediately after the organization of the
Company. and continue in Office till tho first
Monday in October, A. ID. 1872, and the
President shall be elected annually there
after on tn" second Monday of October.
SECTION il.
The President OF the Company shall be
removable by majority of twO-thirds of
the Board of Directors, iand in case of II
cancy, in the Office of President from any
cause, the Board of Directors shall ut once
fill said vacancy soon as convenient by
Il new election. The Board of Directors
shall, also, at the time of elccting a Prcsi-
dent, elect from among tho stockholders n
Secretary and Treasurer, and the salary Of
the President and other officers of the Com
pany shall be fixed by tLc Board of Direc-
tors, and they shall have the power to re-
move the Secretary and Treasurer by n ma
iority vote, for any cause, and have the right
Of filling any vacancy occurring in their
own body.
SECTION Il.
The Board of Directors shall be composed
Of eleven Stockholders, six of whom shall
constitute quorum for the transaction of
business, and in the absence of the Presi-
dent. the shall have the power to elect II
| President pro '"hH.
SECTION -.
The Board of Directors shall have all the
power necessary to carry out all the objects
! ON braced in this act of incorporation, pro-
vidcd, however, that they shall not have
ing the road to an amount above two hun
drcd thousand dollars. without the consent
! of the Stockholders, obtained nj - meeting
called for TINT purpose.
SECTION -.
/ The duration Of this corporation shall be
/ twenty-five years from the date of this act.
and upon the cxpirati ion of it's charter shall
be liquidatcd by three Cyndics, elected by
the Stockholders ut a meeting called for
that purpose.
The President shall have II" v"," except
in case of tic.
SECTION 10.
The Board of Directors may call other
- he at apl<-hallpFg