The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-10-07

| w -
John B. Burton, \: w. Palmer,
wills y !! M n; farrell !; +. Meas Mesdors'
John y. MeCamp, Asa DUTY,
| X. r. Dawson, J. J. Duke,
Henry D. Phi1ipss ~ g; stamper'
Who declared that they, with all others
who may hereafter subscribe stock, have
act, form and organize themselves into a
| body corporate under the name and title OF
the hs M "a ine n
| Trenton, i'll the parish OF Ouachita, for three
years from this date, after which time it
shall be in the town of Homer, in tho parish,
of Claiborne, Louisiana, for the purpose OF
constructing, operating and keeping in re-
pair, three feet guage railroad, from the
vid Hasley farm, near tho residence of DR..
| Blocker, tho town OF Trenton, Louisiana,
parish Of Union, ana 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 tho 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 be used in transporting
freight and passengers, and also for the
purpose of Constructing, operating and
keeping in repair, a magnetic telegraph line
along said railroad, from Trenton, La, to
|
| sages. The President of said Company is
hereby designated rs the officer of said Com
pany upon whom citation shall be served.
SECTION 3.
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 4.
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
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 domicfle of the Company, the
Claiborne Advocate aud the Little Rock
Gazette.
SECTION 5.
Any stakeholder failing, refusing or neg
lecting to respond to the call thus made, by
payment of the amount due on his subscrip-
ton. then the whole amount of the stock of
such delinquent shall mature and become
collectable at once with 8 per cent. interest
! thereon from the date of call, and the Com
pany shall issue a certificate Of stock for
the amount so collected.
SECTION 6.
The Board of Directors shall be elected by
the stockholders of the Company, and each
elections, and the votes may be cast in per-
son or by proxy. After the first election,
the proxy shall have written authority 18th from
which shall be atUa 1occ shall elect.
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 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 domicile of the Company.
| SECTION s.
The first election under this act of iucor-
poration shall take place Immediately after
the organization the COmnanv nv the
signing of this act, provided there be one
hundred thousand dollars in stock sub
scribed.
SECTION 9.
Any failure on the part Of the stock hol-
ders to elect a Board of Directors, as provi-
ded, shall not operate dissolution Of the
Company, but the old Board shall continue
in office until their successors are elected.
SECTION 10.
The President of the Company, who shall
be stakeholder therein, and u member of
the Board OF Directors, shall be elected by
the Board. The first President chosen I'M
der this act of incorporation shall be elected
Company, and continue in office till the first
Monday in October, A. d. 1872, and the
President shall be elected annually there
after on tho second Monday of October.
SECTION II.
The President of the Company shall be
| removable by majority of two-thirds OF
the Board of Directors, land 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 as convenient by
Il new election. Tho Board of Directors
shall, also, at the time of electinE Presi-
| dent, elect from among the stockholders a
Secretary and Treasurer, and tho salary OF
the President and other officers of the Com
pany shall be fixed by the Board of Direc-
| tors, and they shall have tho 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 Of Directors shall be composed
| of eleven stock holders, six of whom shall
business, and in the absence of the Presi-
dent, they shall have the power to elect IL
President pro tenn.
SECTION IL.
The Board of Directors shall have all tho
power necessary to carry out all the objects
embraced in this act of incorporation, pro-
vided, however, that they shall not have
| ing the road to an amount above two hun
dred thousand dollars, without the consent
of the Stockholders, obtained at a meeting
called for that purpose.
| SECTION IL.
The duration of this corporation shall be
| twenty-five years from the date of this act,
and upon the expiration of its charter shall
| be liquidated by three Cyndics, elected by
| the Stockholders Mt meeting called for
! that purpose.
SECTION Is.
The President shall have no vote except
| in case of tie.
The Board of Directors may call othe,
meetings of the stockholders when circum.
stances demand it, and shall do so when de-
manded by the Stockholders, representing
one fourth of all the stock issued.
/ SECTION II.
All rules and regulations relative to de
clarng dividends, and all other rules ant
bylaws necessary for their own government
and the regular transaction of the bushes.
of the Company may be made by the Presi