The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1872-01-13
CHARTER

/
-,@of.tcc' at "a tn3,ve,tioH 1!cl,! at 3ir.nton
SrArE ca LOUISIANA, |
Parish Of Ouachita {
SECTION l.
elio 1t known that ON this day, before mo,
Charles Dclery, Recorder and cN-otiiciu
Notary Public i'll and for the parish and
state aforesaid, duly commissioned and
sworn according to law, personally came
|HrH:,n II; F!e"inoy, :,anes Bond,
Who declared thai they, with. nil o,h6rs
who may hereafter subscribe stock, have
this day, and do by the execution of this
body corporate under tho name and tito OF
the Trenton, lIomer,N Fulton Railroad Com
nany, whose domitile shah DO in The town OF
Trenton. i'll tho parish OF Ouachsa, State
OF Louisiana. for tho purpose OF construct
inS, operating, haintaitiing and keeping
west bank Of the Ouuchita river, in the pa e
Tid Haslcy farm, near tho residence of DIR.
HfocHcr, the town OF Trenton, Louisiana.
Town OF llonier, in the parish of Claiborne,
state OF Louisiana, thence on the most
praciicahlc route il. the direction OF Fulton.
Arkansas. to tho Zine dividing the state OF
Louisiana and the State ofArlansns. Also
l" construct and operate q magnetic tco-
graph line from the beginning 60 tho tcrui-
SECTION >.
The capital stock of said Company IL
hereby liked at TWO millions dollars. aivi-
u"t mt" Sharosot onehundred do,!a>.S each.
SECTION 3.
Tic stock subscription of said Company
shall be payable WHOM called to- officially
by tho Board OF Directors, in miscellaneous,
not to exceed ton per cont. of tho amount
and not to exceed three calls
per ai.nun,, notice OF said call to DO given
hy the Board of Directors. by ADVERTISING
n ", .lN Il.
.t.icd ut tho doniicife OF tho Company, and Il
~ such other papers AS the Board may select.
- SEcr1oN L.
Any stocl>-hoitict f;sifiiig,rcfusiuc, o,. neg
icctin:s to respond to the call thus made, by
payment Of tic amount duo on his su bscrin-
lion. then the whole amount of the stock of
such delinquent shall mature ana become
thereon from the date of call, and tho Conn
pany shall issue u certificate Of stock for
he amount SO collected. ~
SECTION $.
Tho Board of Directors. shall he elected by !
he Stockholders of the COMPANY and each |
'halc shall DO entitled, to one vote in ali J
ELECTIONS, and they may DO east in per
he proxy shall have written authority from
iis principal. No majority of the votes east |
which shall he riou Uocc shall elect.
SECTION Il.
The Board of Directors elected at the first |
election under this charter shall continue |
n office until the first Monday i'll October,f
d. 1872, and tho second election for tho !
Board of Directors shall take place on the |
irst Monday of October, 1872, and annually |
hereafter ON tho first Monday in October
It the donlicilc Of tho Company. |
SECTION 7.
The first eiection under this act OF incor-
loration shall take place Immediately after
he organization OF the Company.
SECTION s.
Any failure on the part OF the stoull-hol-
lers to elect Board of Directors, rs provi-
Company, bnt tho old Board shall continue
IN Office until their successors arc elected.
SECTION o.
The President Of the Company, who shall
be Il stock holder therein, and Il member of
he Board of Directors shall be elected by
he Board. Tho first President chosen UNI
Ter this act of incorporation shall be elected
Immediately after tho organization OF The
Monday in October, a. ID. 1872, and the
President shall be elected annually thcro-
'ttcr on the second Monday OF October.
SECTION 10.
The President OF the Company shall bel
by u majority of two-thirds OIL
he Board of Directors, and III case of a va
.arcy, in thc Office Of President from any
.rlSc, the Board Of Directors shall ut once
i'll said vacancy as soon as convenient bv
nGw election. The Board of Directors
shall, also, ut the time of clcc;ing rrcsi-
secretary and 'ErOasuvcr, and the SALARY of
he President aud other officers, OF the Conn
tGlS Hi!iui DC liked ny the Board Of birCC-
ors. and they shall have tho power 10 re-
move the Secretary and Treasurer by u ma
ortiz vote, for any cause, and have the right
II HiiIiiE any vacancy occurring in thcir
p"n body.
SECTION II.
Tho Board of Directors Siun be com posed
Itcn t1o) Stockholders, anna iorit v OF whom
shall constitute anuOrlllu torihc innsnctiou
Of business.
SECTION -.
The Board OF Directors shall have al she
power necessary to carry out all the objects
ON br;lrCu in this act of incorporation, pro
vidcd, however, that they shall not hay"
the right of borrowing money and liIuri%ar-
ing tho road to an amour: above two hun |
,irch thousand dollars, without tho consent !
Of the Stock-hridcrS, objain"I nj Il meet iu," |
called for that purpose.
:i.a'T.OS Is.
TIC duration OF this corporation sii:iii br |
went A-iivc years from tho aatG Of t!i- act. |
anh upon Tia" expiration Of It's charter shall |
bee (itiHitlat"ot ny three tyH1icR elected by |
The stock -hpl1crs at m"rtiu" called for
'hn! purpose.
SECTION II.
Tho Board of Directors may r#dl other
meetings Of lhc sioci>-hnldnrs when cIIcuru-
ia, sl,.,1I Il .I,,,,, Il