Rapides gazette. (Alexandria, La.) 1869-187?, 1873-07-12

purposes Of Tins act OF Incorporation to
sue and 10 sneed, 10 plead and be implead-
ed in oil courts Of thss State, to puchase,
lease, cell On otherwise dispose ofany prop
ty, real or personal lor rights and credit,
and generally TODD whatever natural per-
son may do in the corporate name. The
president of this company is hereby desig-
mated as the person on whom all legal no
tees orservices are to he made, which may
be made on him personally, or be left at the
Office of the company to his address; that
this company shall have . seal of office
which they may change or alter at their
pleasure, and copy of any Of the proceed
ings If this company certified to be correct
under the signature of the secretary there
of and the seal of this company shall be
prima facie evidence in all courts of this
State that it is a true copy of the original.
SEC. 2. Be il further enacted, ETC., That
the. name and title of this company shall
be the Monroe, BastrOp and Arkansas Rail-
road Company, and the dOmicile thereof is
fixed i'm the town of Monroe, parish of
Ouachita, in the State of Louisiana.
SEC. 3. Be it further enacted, ETC., That
the main object of this company shall be to
lay out, locate, construct, equip, and there
of to own, maintain, operate and ENJOY
continuous single or double track railway
from the town of Monroe, by the way OF
Bastrop, in the parish Of M0rehouse, 70 such
point in the State of Arkansas as may be
hereafter determined by the board Of direc-
tors of this company, looking to connec-
ton with the railroads in the State of Ar
kansas. This company shall have the right
of way of one hundred feet on each side,
from the centre of said road over any lands
owned by the State at the time Of the final
location of any part or section of said road,
and shall have the right to take earth, tim
Der, or materials Of any kind off Of or from
any State lands in the use of tho said rail-
road owned by the State at the time such
may be taken. This right to take earth,
timber or other material shall cease as soon
as the State may sell or part with such
lands that in the event of this company
failing TO agree with the owners Of any
land on the line of such railroad; needed for
right of way or necessary depots, wood
sheds, water stations or other uses, it shall
have the right to cause the same to be ex-
prOpriated for that purpose, by complying
with the forms of law expropriating pro-
perty for public uses.
Sec. 4. Be it further enacted, ETC., That
the capital stock of this company is hereby
fixed at the sum of five hundred thousand
dollars, tn be divided into five thousand
shares of one hundreddollars each reserv-
ing to the stockholders of this company, by
a vote of two-thirds of the stock already
issued, the right either to increase or re-
dnce the said capital, as they may see fit.
The vote for the above purpose shall be VA
ken at the meeting csled by order of the
board of directors Of this company, to meet
at the Office of the company on q day to be
fixed by the directors, notice of which shall
10 N Gp,aT MOI Oh, I'm.
roe, and onesin Bastrop, if one De published
there, for at least thirty days before said
vote shall be taken. Said meeting shall
appoint commissioners to hold such election,
and the result Of the election shall be re-
ported to ahe board Of directors of this COM
pany and be entered ON their minutes and
carried out by the directors.
SEC. 5. Be it further enacted, ETC., That
the corporate rights and privileges of this
company shall rest ia and shall be exercised
by board Of directors, and that the cor
porators named In tho first section OF TINS
act shall constitute the board of directors,
who shall hold their Offices as such until
the first Monday of November, A. D., 1873.
that if any of the said incorporators should
die or dispose of their entire interest and
stock in this railroad or notify the board of
directors that they have resigned their di
rectorship therein, so as to reduce the num-
Der of directors below the number of nine,
it shah be the duty of the remaining direc-
tors to fill the vacancies by the election Of
in place thereof so as to keep
the number Of directors nine. That said
board Of directors shall convene at the DOM
icile of this company, on the call OF the
president, who is hereby authorized to call
the directors together in order to organize,
and upon meeting, if there be q majority
present, they shall organize by electing u.
president from their own body, and q secre-
tary, who shall not be director, and they
may elect or appoint any other officer or
employee they may deem necessary for the
purposes of the company; and shall fix the
salary of the president and the salary or
of all other officers of the
company, and may require bond from any
such officers, except the president thereof,
in such amount as they may fix, TO be ap-
proved by the president, and all such Oh.
GERS, except the president, may be removed
by the president, and said board Of direc-
tors may pass all ordinances and bylaws
not in conflict with the laws Of this State.
TIL. term of Office Of the president shall be
for the term Of Office of the board Of direc-
tors, by whom he is elected. The second
subsequent boards shall hold Office for one
year from the first Monday of November of
the year in which they are elected and
shall be composed of nine iuembers, to be
elected on the first Monday of November,
A. ID. 1873, and every year thereafter. The
board of directors shall appoint three stock
holders commissioners to hold such cleo
lions, and it shall be the duty of the board
Of directors to advertise such election in
one newspaper In Monroe and Bastrop not
less than ten days before such election. The
election shall take place at the Office Of the
company, and be reported by the commits
sioners TO the existing board of directors,
who shall notify the persons elected, and
upon majority of tho newly elected mem:
bers assembling they shall organize, and
the old board shall deliver over to them all
the books, papers, meney, property and
other effects belonging to the company. A
majority of those voting shall elect each
share stock shall be entitled to one vote,
and votes for directors may be given BY