The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-10-14
SECTION |.

il known that on tnlS OuN. DeloTe Lie,
! John K. Ramsey, Recorder and eN,ofhclo
| Notary Public in and for the parish and
State aforesaid, duly commissioned ana
| sworn according 10 law, personally came
| John Young ID. w. Harris,
+. w. Clemen,s. II. w. kirkpatrick.
| Allen c. Hill. Leon Kern,
| 4. Bishop. J: D; Nicely.
!: D: PsHn IEiton H. :; r Maene''
| John b. Burton. \. w. Palmer.
Willis NJ farrell J. +. Nieadors.
John NJ Mecamp, Asa paty,
r. Il. Dawson, ): j. Duke,
Henry D. Philips. NJ. q. Stamper.
Ii. w. Patton,
Who declared that they, with all others
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
| pany, whose domicile shall be in the town OF
| Trenton, in the parish of ouachita, for three
| wears from this date, after which time it
| Shall be in the town of Homer, in the parish
| of Claiborne. Louisiana, for the purpose OF
pair. a three feet guage railroad, from the
| west bank Of the Ouachita river, in the Da-
vid Hasley farm. near the residence OF DR..
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
| Lafayette, from thence to or near the town
of Fulton, county OF Hampstead. state of
Arkansas.
| SECTION =.
| Said railroad 10 be used in transporting
freight and passengers, and also for the
purpose of constructing, operating and
| keeping in repair, magnetic telegraph line
| along said railroad, from Trenton, La, TO
Fulton, Ark, for the transmission of mes
sages. The President of said Company is
| hereby designated as the officer of said Conn
pany upon whom citation shall be served.
| SECTION ).
The capital stock of said Company is
! hereby fixed ut fifteen hundred thousand
dollars. divided into fifteen thousand shares
of one hundred dollars each
| SECTION l..
| The stock subscription of said Company
shall be payable when called for officially
| by the Board of Directors, i'll installments,
not to exceed ten per cent. of the amount cunt
| subscribed, and not to exceed three calls
per annum, notice of said call to be given
| by the Board of Directors, by advertising
| lished at the domicilc of the Company, the
Claiborne Advocate and the Little Rock
| Gazette.
| Any stakeholder failing, refusing or neg
Letting to respond to the call thus made, by
| PAYMENT Of the amount due on his subscrip-
such delinquent shall mature and become
collectable at once with per cont: interest
thereon from the date of call, and the Conn
| pany shall issue certificate of stock for
the amount SO collected.
SECTION g.
The Board of Directors shall be elected by
the stockholders of the Company, and each
| shalc shall be entitled to one vote i'll all
elections, and the votes may be cast i'll per-
the proxy shall have written authority from
his principal: a majority of the votes cast
which shall be rir" uocc shall elect.
/ SECTION Z.
1 The Board of Directors elected ut the first
election under this charter shall continue
in office until the first Monday in October,
Board Of ireeo ene sha take piaee on the
first Monday of Oct ober, 1872, and annually
thereafter on the first Monday in October
| at the dOmicile Ofthe Company.
SECTION s.
The first election under this act of incor-
pOr:,tion shall take place Immediately after
signing of this act, provided there be one
hundred thousand dollars in stock sub
| scribed.
! SECTION 8.
Any failure on the part of the stock-hol-
| ders to elect Board of Directors, as provi-
| ded, shall not operate Il 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 stakeholder therein, and member of
the Board of Directors, shall be elected by
! the Board The first President chosen UNI
l der this act of incorporation shall be elected
| Company, and continue in office till the first
| Monday in October, A: d. 1872, and the
President shall be elected annually there
| after on the second Monday of October.
SECTION IL.
The President of the Company shall be
| removable by Il majority of two-thirds of
the Board of Directors, land in case of Il va
cancy, in the Office of President from any
cause, the Board of Directors shall ut once
fill said vacancy as soon as convenient by
a new election. The Board of Directors
shall, also, at the time of electing Il Presi-
dent, elect from among the stock-holders a
Secretary and Treasurer, and the salary OF
the President and other officers of the Com
pany shall be fixed by the Board of Direc-
move the Secretary and Treasurer by a ma
jority vote, for any cause, and have the right
of filling any vacancy occurring in their
\ own body.
| SECTION l..
| The Board Of Directors shall be composed
| of eleven stockholders, six of whom shall
| constitute j quorum for the transaction of
business, and in the absence of the Presi-
dent, they shall have tho power to elect Il
| Presid ent pro ten.
SECTION IS.
The Board of Directors shall have all the
power necessary to carry out all the objects
embraced in this act of incorporation, pro-
| vided, however, that they shall not have
the right of borrowing money and mortgage
ing the road to an amount above two hun
dred thousand dollars, without the consent
of the Stockholders ohtaincd ut a meeting
called for that purpose.
SECTION II.
Tho duration of this corporation shall be
+ twenty-five years from the date OF this act,
and upon the expiration of its charter shall
be 1iuuidatcd by three Cyndics, elected by
tho Stockholders at II meeting called for
that purpose.
r SECTION 10.
Tho President shall have vor" except
in case Of tie.
SECTION il.
The Board of Directors may call other
meetings of the Stockholders when circum-
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