The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1872-01-06


William II: MaNey, Naming q. stamper,
M Mhn 5 g; Min. ~ James II. Wallace,
! who may hereafter subscribe stock. have
| this day, and do by the execution of this
act, form and organize themselves into a
| the Trenton, Homer 4 Fulton Railroad Com.
Gany, whose domiciIe shall be in the town OF
| of Louisiana, for tho purpose of construct
ing, operating, maintaining and keeping
Vest b rspSei or the olrSa rive. from the
yid Hasley farm, near the residence of DIR.
Blocker, the town of Trenton, Louisiana,
thence h 81 y the most practicable route to the
| State of Louisiana; thence on the most
practicable route in tho direction of Fulton,
Louisiana and the State of Arkansas. Also
| to construct and operate magnetic tele-
graph line from the beginningto tho termi-
SECTION =
The capital stock of said Company is
hereby fixed ut two millions dollars, divi-
ded into shares OF one hundred dollars each.
SECTION 5.
Tho stock subscription of said Company
shall be payable when called for Officially
by the Board of Directors, in miscellaneous,
not to exceed ton per cent. of tho amount
subscribed, and not to exceed three calls
per annum, notice of said call to he given
by the Board of Directors by advertising
lished at the domiciic of tho Conlpany, and
in such OF her papers us the Board may Select.
SECTION 4.
Any STOCKHOLDERS falling refusing or neg
lectin:s to respond to tho call thus made by
ton. then tho Whole amount of the stock Of
such delinquent shall mature and become
thereon from the date of call, and the COM
pany shall issue certificate of stock for
the amount so collected.
SECTION 5.
the stockholders Of tho Company, and each
share shall DO entitled to one vote in all
elections, and they may be cast in per-
the proxy shall li:,vo written authority from,
his principal. No majority of the votes cast
which shall be rioa vocc shall elect.
SECTION t.
The Board of Directors elected at tho first
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 z.
The first election under this act of incor-
poration shall take place Immediately after
tho organization Of tho Company,
SECTION s.
Any failure on tho part of the stock hol-
ders to elect Il Board OF Directors, as provi-
died. shall not operate dissolution Of the
Company, but the old Board shall continue
in office until their successors are elected.
SECTION o.
The President of tho Company, who shall
be 4 Stakeholder therein, and II member OF
the Board. Tho first President chosen I'M
der this act OF Incorporation shall be elected
Immediately after the organization of the
Company, and continue in 0 flee till the first
Monday in October, A. d. 1872, and the
President shall be elected annually there
after on the second Monday of October.
SECTION 10.
Tho President of the Company shall be
removable by Il ma ority of two-thirds OF
the Board of Directors, and 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
new election. The Board of Directors
shall also, at the time of electing Presi-
Secretary and Treasurer, and the salary OF
the President and other officers OF the Com
pany shall be fixed by tho Board of Direc-
move the Secretary and Treasurer by ma.
jority vote, for any cause, and have the right
OF hiiihS any vacancy occurring III theii
The Board of Directors shall be composed
often 10) stock-hoiders, Il ma ority of whom
shall constitute aGHorum forthe transaction
| of business.
| SECTION IL.
The Board of Directors shall have all the
| power necessary to carry out all the objects
embraced in this act of incorporation, pro.
vided, however, that they shall not have
the right of borrowing money and mortgage
ing the road to amount above two hun.
drcd thousand dollars, without the consent
of the Stockholders, obtained at Il meeting
| called for that purpose.
| SECTION -.
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 liIuidatcd by three tyndics, elected by
! the stockholders ut Il meeting called for
| that purpose.
SECTION II.
| Tho Board of Directors may call other
| meetings of the Stockholders when circuni-
I stances demand it, and shall do when de-
| manded by the Stockholders, representing
| one-half OF all the stock issued.
SECTION 10.
! All rules and regulations relative 10 dc
claring dividends, and all other rules and
bylaws necessary for their own govcrnmc,
and the regular transaction of the business
of tho Company may be made by tho Prcsi
i dent and Board of Directors which shall be
I subject to alteration or appeal by tho stock.
! holders at their regular meetings.
| SECTION 10.
Stock books shall he kept III the oilico u
the company and certificates Of stock issued
by tho Board of Directors, signed by tho
! President and countcrsgned by the Secrcta
ry, and no transfer of stock shall be binding
on the Company until recorded in tho
stock books. The books of tho Conipany
! shall be open at all times for the inspection
| of hp tsin h,I