The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-12-02

National Government, provided that the az
ceptance of such donations shall not civ
any right or privilege to the donor in tn
management of the Company.
SECTION 20.
The President and Board of Directors il
accepting donations Of land, shall do so wit
the expressed condition that tho donation i
complete when tho Trenton, Homer ant
to be named in the act of donation, excep
in cases where tho donor expressly make:
the same unconditional. All donations il
money shall be placed in the treasury of the
| Company as a part of their active assets.
~ SECTION p.
The Secretary of the Company shall keep
| n we'll bound book in which he shall tran,
| scribe all acts of donations, and titles of real
estate made to the Company.
SECTION p.
The Board of Directors shall be entitled
to the necessary expenses in attending meet
ings of the Board.
SECTION %.
The Board of Directors are also empower
ed to receive stock subscription in unencum-
bored lands within ton miles Of the road at
their present cash value, to DO determined
by the Board OF Directors tors and the party sub
cessary for constructing the road.
SECTION p.
Tho title of all lands taken in stock sub
scription or otherwise acquired shall be Ia
ken in the corporate name of tho Company
by the PRESIDENT tnereOf, or an agent duly
authorized thereto by the Board Of Directors
SECTION 25.
Thirty days prior to the annual election
of the Board of Directors, they shall publish
at the domicile of the Company and in the
Claiborne Advocate and Little Rock Ga
zette n full and complete statement of tho
financial condition ofthe Company.
SECTION ~.
The Board of Directors shall require from
the Treasurer, bond with ample security to
Amount
that may come into his hands.
SECTION %.
The Board of Directors shall commence
the work of construction soon as the
cash subscription is obtained, and shall take
necessary steps Immediately to have a SUR
vey of the route made, with estimates of
manner that contracts for grading, cmbank-
nlefts, trestle-work and bridging may be
lot out on its completion.
SECTION IS.
Any stock hoider shall have tho right ut
any time of surrendering the amount of his
stock subscription upon the payment of
$3.50 thirty-three and one-third per cent.
thereof into tho treasury OF the Company.
SECTION %.
Any or all of the Directors shall DO subject
to removal by two-thirtls vote OF all tho
Stockholders, at a meeting called for that
at the domicile of tho Company and in the
Claiborne Advocate and Little Rock Ga
zette, by twenty-five per cent. of the stock
holders.
In full proof of which have caused said
appearors to sign this net in presence of tho
attesting witnesses with me, said notary,
on this tho 10th day of September, A. b.
1871, at Colquitt, Louisiana.
John Young, d. w. Harris,
J. w. Clements, II. w. kirkpatrick,
Allen G. Hill, Leon Kern,
a. Bishop, j. u. Medley,
J. ID. Pennington, II. G. Mitchell,
James W.Wilson, J. II. Tignor,
John Il. Burton, A. w. Palmer,
J. =. Taylor, Thomas Price,
Willis NJ. FARRELL. j. f.. MeadOrs,
Il. f. Hayes, Il. s. Pipes,
John NJ. McCamp, Asa Duty,
X. Il. Dawson, j. J. Duke,
Henry ID. Philips, NJ. G. Stamper,
II. w. Patton.
J. II. FLOURNOY,
Chairman T., II. 4 X. X. Convention.
N. BARTLETT, Sec'y,
BEN. X. COLEMAN, Asst Sec'y.
-inest
B. G. GREER,
JNO. NJ. TAYLOR,
JNO. II. RAMSEY,
5t Recorder and Notary Public.