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

SECTION /.
STATE OF LOUISIANA,
Parish of Claiborne.
Be it known that on this day. before me,
John X. Ramsey. Recorder and ex-oflicio
Notary Public in and for the parish and
State aforesaid, duly commissioned and
sworn according to law, personally came
and appeared
J. w. Clcments II. w. kirkpatrick,
Alien G. Hill, Leon Kern,
\. Bishop, j. ID. Nicely,
j. d. Pennington, II. c. Mitchell,
James w. Wilson, j. II. Tignor,
John b. Burton, A. w. Palmer,
j. p TAYLOR Thomas Price,
Willis NJ. FARRELL, J. T.. Meadors,
l.. +. Hays, ELS. Pipes,
John NJ. McCamp, Asa Duty,
X. Il. Dawson, J. j. Duke,
Henry ID. Philips. NJ. G. Stamper,
Who declared that they, with all others
who may hereafter subscribe stock, have
this day, and do by tho execution Of this
act, form and organize themselves into
body corporate under the name and title of
the Trenton, Homer & Fulton Railroad Com
pany, whose domicile shall be in the town of
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
constructing, operating and keeping in re-
pair, 4 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 m, thence to or near
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
Lafayette, from thence to or near the town
of Fulton, county of Hampstead, State of
Arkansas.
SECTION ..
Said railroad to DO used i'll transporting
freight and passengers, and also for the
oeppin i "l rc1or nma
along said railroad, from Trenton, La, to
Fulton, Ark, for the transmission of mes
hereby designated as the officer of said Com
pany upon whom citation shall be served.
SECTION 3.
The capital stock of said Company is
dollars, divided into fifteen thousand shares
of one hundred dollars each.
SECTION 1.
The stock subscription of said Company
shall be payable when called for officially
by the Board of Directors in installments,
not to exceed ten per cent. of the amount
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 q newspaper pub
lshed at the domicile of the Company, the
Claiborne Advocate aud the Little Rock
Gazette.
SECTION s.
Any stakeholder falling refusing or neg
lcctng to respond to the call thus made, by
of the amount due on his subscrip-
ton, then the whole amount of tho stock of
such delinquent shall mature and become
collectable ut once with per cent. interest
thereon from the date of call, and tho Com
pany shall issue 4 certificate of stock for
the amount SO collected.
SECTION g.
The Board of Directors shall DO elected by
the stockholders of tho Company, and each
share shall be entitled to one vote in all
elections, and the votes may be cast in pcr
the proxy shall have written authority from
his principal. \ majority of the votes cast
which shall be aiva rocc shall elect
SECTION 7.
The Board of Directors elected at the first
election under this charter shall continue
in Office until the first Monday i'll October,
\. ID. 1872. and the second election for the
Board of Directors shall take place on the
first Monday of October, 1872, and annually
thereafter on tho first Monday in ctobcr
ut the donicilc of tho Company.
SECTION s.
The first election under this act of incor-
porat ion shall take place Immediately after
The organization of the Company by the
signing of this act, provided there be one
thousand dollars in stock sub
scribed.
SECTION 9.
Any failure on the part of the stock-hol-
dcrs to elect Il Board of Directors, as prOvi-
ded, shall not operate dissolution of tho
Company, but the old Board shall continue
in office until their successors are elected.
SECTION 10.
Tho President of the Company, who shall
be stakeholder therein, and II member of
the Board of Directors, shall be elected by
tho Board. The first President chosen un-
der this act of incorporation shall be elected
after the organization of the
Company, and continue in office till the first
in October, A. d. 1872, and the
President shall DO elected annually there
after on the second Monday of October.
SECTION IL.
The President of the Company shall be
by a majority of two-thirds of
the Board of Directors, and in case of Il va
cancy, i'll the office of President from any
cause the Board of Directors shall at once
fill said vacancy as soon as convenient by
Il election. The Board of Directors
shall, also, ut the time of elccting Presi-
dent, elect from among the stockholders a
Secretary and Treasurer, and the salary of
t he President and other officers of the Com
pany shall be fixed by the Board of Direc-
tors, and they shall have the power to re-
move the Secretary and Treasurer by n ma
of filling any vacancy occurring in their
own body.
SECTION II.
The Bourd 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 Prcsi-
dent, they shall have tho power to elect a
President pro tenn.
SECTION b.
The Board of Directors shall have all tho
power necessary to carry out all the objects
embraced in this act of incorporation, pro-
vidcd, however, that they shall not have
tho right of borrowing money and nOrtga
ing the road to an amount above two hun
drcd Thousand dollars, without the consent
Of the Stockholders, obtained at a meeting
called for that purpose.
SECTION II.
The duration Oft this corporation shall he
t,vemt S--tiye wears from the date of this act