The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-11-11
SEt "rlON /.

STATE or LOUISIANA,
Parish of Claiborne.
lie it known that on this day. before me.
! John X. EunSeN. Recorder and cN-ot1icio
Notary Public in and for the parish and
stat" aforesaid, duly commissioned and
sworn according to law, personally came
and appeared
John Young. u. w. Harris,
j. W. elements, II. w. kirkpatrick,
Allen c. nm, Icon Kern,
\. bishop, j. u. Ncclv.
J. u. Pennington. ii. c. Mitchell,
James w. Wilson. }. II. Tignor.
John Il. Burton, \. w. Palmer,
j. T.. Taylor, Thomas Price,
Willis NJ. farrell. j. T.. MeadorS.
T.. Il. Hays, E.S. Pipes.
John Nj. McCamp, Asa Duty,
X. II. Dawson, j. j. Duke,
Henry ID. Philips. NJ. q. Stanpcr,
II. w. Patton,
Who declared that thcy, with all others
who may hereafter subscribe stock, have
this day, and do by the execution of this
act, form and organize themselves into
body corporate under the nainc and title of
the Trenton, Homer II Fulton Railroad Conn
pany, whose domicile shall be in the town of
Trenton, i'll the parish of ouachita, for hrcc
years from this date after which time it
shall be in the town of Homer, in the parish
Of Claiborne, Louisiana, for the purpose of
constructing, operating and keeping in re-
pair, :, three feet guage railroad, from the
west bank of the Ouachitu river, in the Da-
vid HasleN 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 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
Arkansas.
SECTION >.
Said railroad to be used III transporting
freight and passengers, and also for the
purpose of Constructing, operating and
Keeping in repair, II magnetic telegraph limo
along said railroad, from Trenton, La, to
<,l
sagcS. The President of said Company is
hereby designated rs the officer of said Conn
pany upon whom citation shall be served.
SECTION ).
Tho 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 tho amount
subscribed, and not to exceed three calls
per annun, notice of said call to be given
by the Board of Directors, by advertising
the same thirty days in Il newspaper pub
liShcd at the domicilc OF the Company, the
Claiborne Advocate aud the Little Rock
Gazette.
SECTION ).
Any stock holder falling, refusing or ncn-
Letting to respond to the call thus made, by
payment of tho amount duo on his Subscrip-
ton, then the whole amount of tho stock of
collectablc ut once with per cent. interest
thereon from the date of call, and tho Com
panN shall issue Il certificate OF stock for
the amount so collected.
SECTION g.
Tho Board of Directors shall be 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
son or by proxy. After tho first election,
the proxy shall have written authority from
his principal. \ majority of tho votes east
shall
SECTION ..
The Board of Directors elected ut the first
election under this charter shall cont inuc
in Office until the first Monday in Oct ODER
\. ID. 1872. and the second election for the
Board OF Directors shall take place on the
first Monday ofOctohcr, 1872, and annually
thereafter on the first Monday in October
ut the tonlicilc Of the Company.
SECTION s.
Tho first election under this az. of incor-
r"ration shall take place Immediately after
signing of this act provided there be one
hundred Thousand dollars in stock sub
Scribch.
SECTION o.
Any FIJI lure on the part of the stocll-hol-
hcIS to eject Il Board of Directors, aS proNi-
dcd, shall not operate Il dissolution of the
Company, but the old Board shall continue
in office unit! thoir successors are elected.
SECTION 10.
The President ofthc Company who shall
DC Il Stocl<-ho!dcr therein, and II member of
the Board of directors, shall be elected by
dcrtiis act Of Incorporation shall be elected
Immediately after the organization of the
Company. and continue in Office Till the first
President 'Sifaii@bn elected annually there
after on the second Monday of October.
SECTION IL.
The President of the Company shall be
the Board of Directors, land in case of Il va
c:'ncy. i'll the Office of President from any
cause, the Board of Directors shall ut once
ill said vacancy as soon rs convenient bv
Il new election. Tho Board of Directors
shall, also, ut tho time of clcctin" PrcSi-
dent, elect from among the Stockholders Il
Secretary and Treasurer, and the salary of
the President and other officers of the Conn
pany shall be fixed by the Board of Dircc-
move the Secretary and Treasurer by II ma
ioritv vote, for any cause, and have HE right
of Hing any vacancy occurring in their
own body.
SECTION Il.
Tho Board 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-
don't. they shall have the power to elect n
President pro ten.
SECTION Is.
Tho Board of Directors shall have all the
power necessary to carry ont all the objects
vidct,, however that fhcv shall not have
the right of borrowing money and mortgage
ing the road to an amount above two hun
drcd thousand dollars, without tho consent
OF the Stockholders, obtained ut ~ meeting
called for that purpose.
SECTION II.
The duration of this corporation shall he
| invent y-iiVc Years from the date of this act,
and upon the expiration of its charter shall
| bc liquidatcd by three Cyndics, elected by
| the Stockholders ut Il meeting called foi
| that purpose.
SECTION 10.
The President shall have no vote except
/ IN, t..lsn of