The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-11-18
SECTION !.

SECTION l.
STATE OF LOUISIANA,
Parish of Claiborne.
BE il known that on this day, before me,
John X. RAMSEY, Recorder and ex-offcio
Notary Public in and for tho parish and
State aforesaid, duly commissioned ana
sworn according to law, personally came
John Young. Nv: Harris,
J. W. Clements, H. w. Kirkpatrick,
Allen c. Hill, Leon Kern,
A. Bishop, J. d. Nicely,
j. d. Pennington, H. c. Mitchell,
James w. Wilson, J. L. TiEnor,
John b. Burton, a. w. Palmer,
J. p. Taylor, Thomas Price,
Willis NJ. FARRELL, j. %. Meadors.
John n: Mcccamp, Asa Duty,
r. Il. Dawson, J. J. Duke,
Henry u. Philips. NJ. q. Stanper,
Who declared that they, with all others
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, i'll the parish of Ouachita, for three
years j., from this date after which NJ time e,.h Il
of Claiborne, Louisiana, for tho purpose of
constructing, operating and keeping in re-
West bank of the 6uachita river, in the Da-
vid Hasley farm, near the residence of DIR.
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.
SECTION 2.
Said railroad to be used in transporting
fsnttr DSNI k,nrN,Yn n fNf n
purpose of constructing, operating and
keeping in repair, Il 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
pany upon whom citation shall be served.
SECTION 5.
The capital stock of said Company is
hereby ii Ned ut fifteen hundred Thousand
dollars, divided into fifteen thousand shares
of one hundred dollars each.
SECTION 4.
Tho 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
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 domicile of the Company, the
Claiborne Advocate aud the Little Rock
Gazette.
SECTION 5.
Any stakeholder falling, refusing or neg
Letting to respond to the call thus made, by
payment of the amount due on his subscrip-
ton then the whole amour. of the stock OF
collectable ut once with per cent. interest
thereon from the date Of call, and the Com m,
pany shall issue certificate of stock for
the amount so collected.
SECTION 8.
The Board of Directors shall be elected by
the stockholders of the Company, and each
share shall be entitled to one vote in all
q nItiG votes Der
son or by proxy. After the first election,
the proxy shall have written authority from
his principal. a majority OF the votes cast
which shall be RIA rocc shall elect.
SECTION Z.
The Board of Directors elected ut the first
election under this charter shall continue
A. 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 tho first Monday in October
at the domicle of the Company
SECTION 8.
Tho first election under this act of incor-
poration shall take place Immediately after
the organization Of the Company by the
signing of this act, provided there be ono
hundred thousand dollars in stock sub
scribed.
Any failure on the part of the stock-hol-
ders to elect Board of Directors, as provi-
ded, shall not operate dissolution Of the
Company, but the old Board shall continue
in office unit! their successors are elected.
SECTION 10.
The President of the Company who shall
be 4 stakeholder therein, and Il member of
the Board of Directors, shall DO elected by
the Board. The first President chosen un-
der this act of incorporation shall be elected
Immediately after the organization of the
Company, and continue in office till the first
Monday 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
removable by majority of two-thirds of
caucy, in the office of President from any
cause, the Board of Directors shall at once
fill said vacancy as soon as convenient by
a new election. The Board of Directors
SHALL Also at the time of clecting Il Presi-
dent, elect from among the Stockholders a
Secretary and Treasurer, and the salary of
pany shall be fixed by the Board of Dircc-
tors, and they shall have the power to re-
| move the Secretary and Treasurer by ma
jority vote, for any cause, and have the right
of filling any vacancy occurring in their
own body.
SECTION II.
The Board ofDircctors shall be composed
of eleven Stockholders, six of whom shall
constitute quorum for tho transaction of
| business, and in the absence of tho Pres-
dent, they shall have tho power to elect n
President pro TEN.
SECTION 10.
| The Board of Directors shall have all the
| power necessary to carry out all tho 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
bred thousand dollars, without the consent
| of the Stockholders, obtained at a meeting
called for that purpose.
SECTION liz
| The duration of this corporation shall be
| twenty five years from the date of this act
and upon the expiration of its charter shall
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