The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-10-28
STATE OF LOUISIANA,
Parish of Claiborne.

this day, and do by the execution OF this
body corporate under tho name and title of
the Trenton, Homer Il Fulton Railroad Com
Trenton, in the parish of Ouachita, for three
years from this date, after which time it
shall be in the town of Homer, in the parish
of Claiborne, Louisiana, for the purpose of
constructing, operating and keeping in re-
pair, a three feet guage railroad, from the
vid IIasley farm near tho 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
bia, from thence to Lewisville, county of
Lafayette, from thence to or near the town
of Fulton, county of Hampstead. State OF
Arkansas. .t1
SECTION .. -
Said railroad to be used in transporting
freight and passengers, and also for the
purpose of constructing, operating and
! keeping in repair, a magnetic telegraph line
Fulton, Ark, for the transmission Of mes
sages. The President OF said Company Is
hereby designated as the officer of said Com
SECTION ;. t.R
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
by the Board of Directors, in installments,
subscribed, and not to exceed three calls
per annum, notice of said call to be given
tho same thirty days in q newspaper pub
lished at the domicflc OF the Company, the
Claiborne Advocate aud the Little Rock
Gazette.
Any stock holder failing, refusing or neg
Letting to respond to the. call thus made, by
ton. then the whole amount of tho stock of
such delinquent shall mature and become
as on hs
Pany shall issue a certificate or stock for
| the amount SO collected.
..- srr..-- SECTION d.
The Board of Directors shall be elected by
the Stockholders of the Company, and each
sha1 @ 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 majority Of the votes cast
SECTION Z.
| The Board Of Directors elected at the first
election under this charter shall continue
| in office until the first Monday in October,
A. d. 1872, and the second election for tho
| Board of Directors shall take place on the
| first Monday of October, 1872, and annually
5hgFsaffsT on th S first %ndax in October
SECTION g.
The first election under this act OF incor-
por,tion shall take place Immediately after
tho organization of the Company by the
signing of this act, provided there be one
hundred thousand dollars in stock sub
scrbed.
SECTION 8.
Any failure on tho part of the stock-hol-
doris to elect Board of Directors provi-
ded, shall not operate a dissolution of the
Company, but the old Board shall continue
in office until their successors are elected.
SECTION 10.
The President of the Com w , shall
be a STOCKHOLDERS therein, and u member of
tho Board of Directors, shall be elected by
der his act of incorporation shall be elected
ilnme diately after tho organization of the
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 a majority of two-thircs of
the Board of Directors, kand in case of a va
cancy, in the office of President from any
cause, the Board of Directors shall at once
| fill said vacancy as soon rs convenient by
| Il new election. The Board of Directors
shall, also, at the time of electing a Presi-
dent, elect from among the stock-holders a
Secretary and Treasurer, and the salary of
| the President and other officers of the Com
! tors, and they shall have the power to re-
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 II.
| Tho Board of Directors shall be composed
| of eleven stockholders six of whom shall
| constitute a quorum for the transaction of
business, and in the absence of the Presi-
dent, they shall have the power to elect n
! President pro tenn.
SECTION II.
The Board of Directors shall have all the
power necessary to carry out all the objects
embraced in this act of Incorporation, pro-
| vidcd, however, that they shall not have
the right of borrowing money and mortgag-
ing the road to an amount above two hun
bred thousand dollars, without the consent
of the tock-holders, obtained at meeting
called for that purpose.
SECTION ii.
The duration of this corporation shall be
twenty -five years from the date of this act
and upon the expiration of its charter sha II
DO liquidated by three Cyndics, elected by
the Stockholders at meeting called for
'n"' purpose SECTION Is.
Tho President shall have no v"," except
in case OF tic.
SECTION Ii.
!, The Board of Directors may call other
meetings of the Stockholders when circum.
stances demand it, and shall do so when do
nlanded by the Stockholders, representing
one-fourth Of all the stock issued.
SECTION II.
All rules and regulations relative to de
claring dividends, and all other rules anc
, bylaws necessary for their own government
and the regular transaction of tho cuisines.
dent and Board of Directors, which shall bt
l subject to alteration or appeal by the stock
holders ut their regular meetings.
SECTION Is.
Stock books shall be kept in the Office o
the company and certificates of stock issuet
by the Board of Directors, signed by tn
ry, and no transfer OF stock shall be binding
on the Company until recorded in tn
stock books. The books of the Compsn,
shall be open at all times for the inspcctio
of the stock holders.