Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-03-09

rector the secretary In his name, shall then draw
from The said box one Of the said pieces Of paper
ana the secretary shall make record Of the said
drawing, noiins the term by each director drawn
and the 81 directors shalt hold their offices rs d.
rectors for the term indicated by the ballots drawn
by them respectively, and until their successors shall
be du elected and tive directors shall be elected
by aiot at each annual meeting OF the stockholders
OF said company. who shall hold their offices ~ d.
recors for three years. and until their successors are
elected: procided that any vacancy In the board OF
directors caused by death resignation or otherwise,
may be filled by election at any regular annual meet
ing Of the stockholders Of said company, and the
person persons elected shall hold for the unex-
pired term for which he or they shall be elected.
SEC To- A majority Of said board Of directors
shall constii ute quorum or the Transaction OF bus.
They shall meet At such tim - and places and
be convened in such manner they shall decide up
Tsey shall seiect president and vice pressdehe
from the board OF directors who shall serve for one
year, until their successors are elected. The
board OF directors hail also appoint such other om
GERS, superintendent, engineers and agents ~ they
may deem necessary, aad fix their compensation ana
duties and shall have power to make and estaosh
such bylaws AS they may think proper respecting
the property. concerns Affairs, business, stock and
government OF the corporation created by THIS act,
and the powers and duties OF its officers and commit
tees, and its officers and committees may exercise
all the powers which may be prescribed by such by
laws; and the directors may make such other rules,
regulations and orders they think proper but
such by laws, rules regulations orders shall be
Inconsistent with this act or with the constitution or
laws OF this state and the directors shall have pow
er in general to superintend and direct all the "er-
atoms, receipts, disbursements aud all other affairs
IL said company.
SEC. II. The capital stock Of said company shall
consist Of two mil ions Of dollars, with power to In
crease the same a. the company may deem necessary
AID shall be divided into such number OF shares Of
one hundred liars each as the directors shall from
time to time term ne and the directors shall cause
books to be openeGai such times and places as they
may designate to receive subscriptions to the capital
v.
person or persons they may designate giving pub
lie notice by publication at least week In pnb-
lie newspaper published at or nearest TO each place
where books to be opened for subscriptions, and
after such books shall have remained open such
length of time AS the directors may determine not
less han three days, the directors shall be author
lied dispose of any and all stock not sub crbed
for on such terms and in such nner as they shall
think proper, aud the directors are hereby author.
lied and empowered to prescribe by resolution or
otherwise, that such portion Of the capital stock AS
they shall think best, not exceeding onehf OF the
whole, shall be preferred stock aud entitled to such
dividends the directors may determine, in prefer
ence to the otner stock Of the company.
SIC. l.. The fist meeting of the directors of said
company shall be held in the age If Lone Rock,
in the county Of kichland on the second Monday III
the month OF April next, and the annual meeting OF
the stockholders shall he held at such time and place
may be prescribed by the bylaws or resolution
Of said company IN each year, aud the term OF office
OF FIVE of The directors shall expire. and their
cessors shall be ectei at the time Of such annual
IN etings.
SEC. Is. Special meetings Of the stockholders may
be called by order of the board of directors, or by
stockholders holding oue.fourth OF the capital stock
twenty days uotIce given to the stockholders,
specifying tn object OF the meeting; bat no business
Shall be transacted AT any such special meeting uu-
less majority Of the stock then issued Shall be rep
resented in sach meeting
SEC. III At all meetings of the stockholders the
votes Of stockholders may be cast in person by
proxy duty authorized, and every stakeholder shall
be emitted H. one vote Tor each and every sha e
OF stock held by him; and in ali elections for drec-
tors those stockholders equal to the number Of d.
rectors to be elected, having the greatest number OF
votes, shal be deemed and declared daily elected di
rectJrs. The election shall be.conj icted in such
manner as shall be prescribed by the bylaws or by
resolution Of the comp NY Ii Tor any cause an cleo
ton OF directors shall be had ut the time hen by
the provisions Of this act it should be had the same
may be held at such other time shall be fixed by
the bylaws OF the company, and until such election.
the directors OF the preceding year shall continue to
act, aud the corporation shall moi forfeit or lose any
OF its privileges, franchises immuultes by reason
of the irregliarity or want of any snch election.
SEC. 10, The company hereby created is hereby
authorized aud fully empowered, i'll Its corporate ca
ptcity, 10 borrow any of money from any
person or persons, corporations body polite oil
any kind and FOR any rae of Interest which may b.
agreed upon by and between said company aud any
party OF whom such money may be obtained and
to make, execute and deliver, in ont this State
al necessary writings, notes bis, bonds mort cages
and All other papers or securities, in amount or
tiun, in consideration OF any such loan, or il. dis
charge Of any liabilities they may incur Ia the con.
struGion, repair, equipment opera ing said road
or Ia any Of she transactions OF the said company au
thorize by this act and the said company is hereby
authorized, in its corporate capacity, to make exc
cate, Issue and deliver its b1uds obligations ia
such amount as the directors shall think tes fot
the interests OF said company and the directors Of
$ nd company are hereby authorized aud empowered
to prescribe the SUN for which each Of said
bonds shalt be issued, aud the time when the same
shal become due and the contracts and official
acts of said company Tor the purposes necessary l.,
carry out the objects of this corporation are hereby
declared binding IN law and equity upon said como
ration, and upon all parties To SAID contracts
sEG. To- The company hereby created shall 70,
all and evey the lands aud property which il Shall
app appropriate, take, possess, occupy or fuse pa,
tie full and aclu cash value the reol at the time il
shall appropriate, take possess, occupy or use suct
lands ami proper y, and such value shan be ascer
tain4d, fixed determined by mutual agreement ne
tween the said company and the owners of such LAND
and properly, respectively, or by and through thu
medium and appraisemeut and determination o,
award OF commissioners appointed as hereinafter
provided.
ssu. H. 1t shall be lawful for and 1t is hereb,
m, de the duty of the judges Of the circuit court
resp ctiyely through which the line of the lail
road roads of The company hereby create,
shall be locat, d. each Of sa judges in and for hi
own circuit, on he application OF SAID compay ant
A. its and charge, TO appoint app asing com
missipners under this act, three ,isinteres,ed nr
sons Of sound mind, known integrity and approve,
uasment aud actual residents Of the circuil OF slcI
jul &c. After such comnssi shall have beer
appointed aforesaid, others may and shall from
time TO time be appointed by the judges Aforesaid N
nAel occasion may require, in either Of the follow
cases LIST. Nhen any one Of he persons Their, to
fore appointed shall cease to be resident ,f the CIR
cult for which he was appointed, shall die oy be
come in any manner iucoapetent to act such com
! mi ,sioner al. W hen such person shall decline tC
| act, 10 further act sus.ii Commissioner. Sd
" hen su person shall ne eci or fail 10 act. t.
further act, such commissioner for months al
| t / being reuuto properly requested. Notice O
any application Tor the appointment Of commissioner
a, aforesaid shall be given by publication for tire
successive weeks IN public newspaper IN each com
W Of The circuit In which such Application !, made
] in which newspaper is published, AMI through
which the proposed route of s,dd raj road mall run
aud the affidavit Of the publisher or PRIMER shall b