The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-11-04

4do,,tci at n Contention Held at CbtQ"0.
SECTION l.
| STATE OF LoUlsIANA,
Parish OF Claiborne.
BE it known that on this day, before me
John X. Ramsey, Recorder and ex-ofnclc
Notary Public in and for the parish and
State aforesaid, duly commissioned and
sworn according to law, personally came
and appeared
John Young, wv. Harris,
J. w. Clements, II. w. Kirkpatrick,
| Allen c. Hill, Leon Kern,
| a. Bishop, j. ID. Nelly,
j. d. Pennington, ii. c. Mitchell,
James w. Wilson, J. T. Tignor.
John Il. Burton, 4. w. Palmer,
J. =, TAYLOR Thomas Price,
Willis Nj. FARRELL, J. f. Meadors,
John i; m NJ MN" Mccamp, Asa puty.
X. Il. Dawson, J. J. Duke,
| Henry u. Philips, NJ. q. Stamper,
| IL. w. Patton,
Who declared that they, with all others
who may hereafter subscribe stock, have
this day, and do by the execution Of this
act, form and organize themselves into
| tho Trenton, Homer. 4 Fulton Railroad Com
pany, whose domicile shall be in the town Of
| Trenton, i'll tho parish of Ouachita, for three
shall DO in the town of Homer, in the parish
of Claiborne, Louisiana, for the purpose Of
constr1ftinE' operating and i kseP'ng IN re- re-
| west bank of the Ouachita river, in the Da-
vid Hasley farm, near the residence Of DIR.
and thence by way Of townsville, in the
parish of Union, and from thence to or near
in tho parish of Claiborne, from thence pas
| sing within five miles of the town of Atlanta
| to tho town of Magnolia county of Column
| Lafayette, from thence to near the town
of Fulton, county of Hampstead, State Of
Arkansas.
Said railroad to be used in transporting
freight and passengers, and also for the
purpose of constructing, operating and
along said railroad, from Trenton, La, to
| Fulton, Ark, for the transmission Of mes
| hereby designated as tho officer Of said Com
pany upon whom citation shall be served.
SECTION B.
Tho capital stock OF said Company is
| dollars, divided into fifteen thousand shares
| of one hundred dollars each.
SECTION 4.
Tho stock subscription Of said Company
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
the same thirty days in newspaper pub
lished at the donicile Of the Company, the
Claiborne Advocate and tho Little Rock
Gazette.
SECTION 5.
ANY StOck-hOluer full1nE, refusing or noS-
lecting to respond to the Call thus made, BY
payment of the amount due on his subscrip-
ton. then the whole amount OF tho stock Of
such delinquent shall mature and become
collectable at once with per cent. interest
thereon from the date Of call, and tho Com
pany shall issue certificate Of stock for
tho amount so collected.
SECTION 6.
The Board of Directors shall be elected by
the Stockholders of the Company, and zach
share shall be entitled to one vote in all
the proxy shall have written authority from
his principal. a majority of the votes cast
which shall be viva vocc shall elect.
SECTION 7.
The Board of Directors elected at 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
rer S the rss MondaH in
| at the domicile of the Company.
SECTION 8.
The first election under this act of incOr-
poration shall take place immediately after
tho organization of the Company by the
signing of this act, provided there DO one
hundred thousand dollars in stock sub
scribcd.
Any failure on the part of tho stock-hol-
ders to elect Il Board of Directors, provi-
Company, but the old Board shall continue
in office until their SUCCESSORS arc elected.
SECTION 10.
The President of the Company, who shall
be Il stakeholder therein, and member Of
the Board of Directors, shall DO elected by
the Board. The first President chosen I'M
der this act of incorporation shall be elected
Immediately after the organization of the
Company, and continue in Office till the Fl rst
Monday in October, A. ID. 1872, and the
President shall be elected annually there
after on tho second Monday of October.
SECTION IL.
The President Of the Company shall be
removable by majority of two-thirds of
the Board of Directors, land in case OF u va
cancy in che office of President from any
cause, tho Board of Directors shall at once
fill said vacancy as soon convenient by
n new election. Tho Board OF Directors
dent, elect from among the stockholders q
Secretary and Treasurer, and the salary of
the 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 Il ma
of filling any vacancy occurring in their
own body.
SECTION II.
The Board of Directors shall be composed
of eleven Stockholders, six of whom shall
constitute quorum for tho transaction OF
business, and in the absence or the Presi-
dent, they shall have the power to elect a
President pro tenn.
SECTION IL.
The Board of Directors shall have all the
power necessary to carry out all the objects
vided, however, that they shall not have
the right of borrowing money and mortgag
ing the road to an amount above two hun
dred thousand dollars, without the consent