The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-09-30


hereby designated as the officer Of said Com
| pany upon whom citation shah he 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 1.
The stock subscription OF said Company
by the Board of Directors, in installments,
not to exceed ten per cent. OF the amount
per annum, notice of said call to be given
, by the Board Of Directors, by advertising
III, the same thirty day. in u newspaper pub up.
Claiborne Advocate md The Little F""f
Gazette.
SECTION ).
Any stock holder failing. refusing or iIes-
lccting TO respond to the call thus made, by
payment of the amount due on his subscrip-
such delinquent shall mature and become
collectable ut once with per cent. interest
thereon from tho date of call, and the Com
lany shall issue \ certificate" of stock for
tho amount so collected.
SECTION u.
The Board OF Directors shall be elected by
the Stockholders OF tho Company, and each
share shall be entitled to one vote i'll all
elections, and the votes may be cast in per-
son or by proxy. After the first election,
the proxy shall have written AUTHORITY from
his principal. 4 majority OF the votes cas-,
which shall he rico coce shall elect
SECTION :.
The Board of Directors elected 1T the first
election under this charter shall CONT n,,e
in office until the first Monday i'll October,
4. d. 1872, and the second election for the
| Board of Directors shall take place on the
first Monday Of October, 1872, and annually
thereafter ON the first Monday in October
AT the 'l"n'"il" of the Company.
SECTION :.
The first election under this ACT of incor-
pOrat ion shall take place inlnediat ely after
he orGanizatio ion of the Company by the
signing of this act provided there be one
hundred thousand dollars in stock sub
Srrihc1.
Any failure ON the part OF the ock-ho!-
iers t" elect Il Board OF Directors. ns provi-
ded. shall not operate Il dissolution of the
Company, hut the old Board shall continue
in Office until their successors ar" elected.
SECTION lu.
The Prs~idGnt ofthc Company, who shall
be Il stock-holder therein. and Il member OF
the Board of Directors, shall be elected by
the Board. The first President chosen UNI
Immediately after the organization of the
Company. and continue i'll Office till the first
Monday in October, \: .. 1872, and the
after on tn" second Monday of October.
SECTION II.
The President Of the Company shall be:
removable by majority Of two-thirds OF
the Board of Directors, iand III case OF Il va
c:,ncy, i'll the Office OF President from any
cause, the Board of Directors shall at once
a new election. The Board Of Directors
shall, also, ut the time Of elcctinS Presi-
dent, elect from among the stock holders n
the President and other officers OF tho Com
panv shall be liked by the Board OF Direc-
move tho Secretary and Treasurer by a ma
jority vote, tor any cause. and have the right
Of filling any vacancy occurring in their
SECTION ~.
The Board OF Directors shall be com posed
OF eleven Stockholders, six OF whom shall
business, and in the absence Of the Presi-
dent, they shall have the power tn elect
President pro ttH,.
SECTION Is.
The Board of Directors shall have uIl the
power necessary to carry out all the objects
embraced i'll this act Of incorporation, pro-
vided, however, that they shall not have
tho right OF borrowing money and mortgage
ing the road to an amount above two hum
dred thousand dollars, without the consent
called for that purpose.
SECTION ii.
The duration Of this corporal ion shall DE
| twenty-five years from the date of this act,
be liquidated by: three Cyndics, elected by
! the Stockholders at a meeting rnllrd for
that purpose.
The President shall have II" v"" ..cep,
in "as" of tic.
SECTION II.
The Board of Directors ma. call other
meetings of the stock holders when circum-
stances demand il, and shall do 80 when de-
manded by tho stock holders, representing
on"-t'lrh ofnll the stock issnad.
SECTION II.
All rules and regulations relative 10 de-
claring dividends, and all other rules and
bylaws necessary for their own government
and the regular transaction of the business
of tho Company may be made by the Presi-
dent and Board of Directors. which shall be
subject to alteration or appeal by the stock
holders ut their regular meetings.
SECTION IS.
Stock books shall be kept in tho office Of;
the company and certificates ofstock issued
by the Board of Directors, signed by the
President and acknowledgement by The Secreta-
~, and no transfer of stock shall be binding
on the Company until recorded in the
stock books. The books of the Company
shall be open n all times for Tho inspect ION
of the E-hol1crs.
SECTION -.
The President and Board Of Directors shall
have power TO accept donations Of the right
of way. lands, money, rights and franchises
from individuals. corporations, States or
ceptancc Of such donations shall not give
any right or privilege to the donor in the
management OF the Company.
SECTION 20.
The President and Board Of Directors ia
accepting donations of land, shall do so with
the expressed condition that the dOnat ion is
complete when the Trenton, Homer and
Fulton Railroad is finished to given point
TO be named i'll the act of donntiOn except
in cases where the doitnr expressly makes
the same unconditional. All donations in
money shall be placed III h" treasury Of III"
Company - 81 part Of heir a'tiv" assets.
SECTION u.
The SECRETARY of the Company -iinfi keen
II well bound book in which he shall tran
scribe all acts of donations, and titles Of rcal
"etHt" mad" to II" Company.
SECTION -.
The Board of Directors shall be entitled