The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1873-02-27
tons Of this Corporation.


may at any time. BY vote IT two
thirds st the Stockholders, or, If deem.
ed necessary, by the Board Of Directors be
increased or diminished At any regular
meeting.
ART. VII TIE stock shall be divided
into shares Of Fifty rollsrs each.
AIR. VIII. No person shall be entitled
TO more votes than on one hundred shares.
ART. TX. The shnres shall be transfer
able from and after the date Of completion
of the read from Davenport to Iowa Falls.
but such transfer must be made and entered
on the Books of Record oy the Company,
and ne stock holder shall be entitled TO n
vote, or votes. on stock, not appearing on
said Records, by the person claiming TO
own the same Notice Of any such trims
fer and sale Of stock by stock Holders must
be given forthwith 70 the executive officers
of this Corpotation.
ART. X. Any person, owning one or more
shares of the stock, shall be considered a
member of this Corporation and shall at oil
regular meetings of the Stockholders be en-
titled 10 oae vote for each share of stock
owned by SUCH persons. provided, as hereto
fore stated in Article VIII, aud may cast
such vote by any other person hereto auA
thorized in writing for the purpose.
ART XII No part Of the Stock is re-
anired to be paid at the time Of subscrip-
ton After the amount of S3OGOO0 Of
the Stock is subscribed, the Directors may
order such instruments to be paid On shar es
as they may deem necessary, for the speedy
construction Of said roa';. or any part there
of. But no ls,a lment shall exceed twenty
per centum at any one time, and shall. not
10 aft than Onco
month. Notice Of such instruments re,
qnired shall be inserted in some news
pa per published in the county, where the
principal Office of the company is located.
ART XII. The Company shall have q
lien upon all the Stock subscribed for all
unpaid ,ns,allmcnts, and the Directors may
declare all such preyious payments thereon
forfeit I'd, if The installmenis levied are not
paid within thirty days after they become
due, and they shall be due one week from
The publication as aforesaid.
ART. XIII. The private property of In
dividual ckholders shall be exempt
from the payment of the corporate debts
and liabilities Of said Corporation.
ART. XIV The affairs and business 0fthis
Corporation shall be managed by Fifteen
Directors, and they are ~ Board hereby
luVebtSu WITH I'LL NHe toWO'o """ @s~N''~'''v
to carry out said business affairs, MAYORS
ty of whohi shall constitute a Quorum.
ART v. The Board Of Directors
shall elect from their own number an Exc
cutiye Committee. composed OF President
Vice President. Treasurer and Secretary,
whose duties shall be such rs generally
pertain 10 such offices, and said Directors
shall FIJI all vacancies in said Board. Said
officers shall hold their Offices until their
successors ara elected and qualified
ART. XVI. The Board Of Directors
shall be Stockholders of the corporation-
and q. leas, three forths Of them shall be
residents Of the State of Iowa.
ART. XVII TIE Treasurer and the
Secretary shall be required TO give such
sufficient Bonds and approved sure,ies as
said Board Of Directors mny require an
deem best for the corporation.
ART. XVIII. All proceedings ofsail
Executive Committee at its meetings shall
be recorded in the book Of minutes by the
Secretary, if present, if not the minutes
sha be signed by the committee aud filed
viii, thu Sec rotary who shall enter the
same on the records of the Company.
ART. XIX. The annual meeting Of the
Company shall be held at it's principal OF
flee of Business on the first Tuesday in
June each year, at which time the election
ii Directors for the ensuing year sAll take
place. ana as coon thereafter as Practicable
the Board Of Directors so elected shail select
from their lumber President. Vice Presi-
lent. Treasurer and Secretary for the en-
suing year
ART. NIX. The Secretary shall keep n
fnl, and correct account Of ali affairs, and
Of the Company, which shall
~ MI times during the business hours
and days) be subject to the inspection OF
any S,ockholLer.
Art. XXI. The Board of Directors Tor
tho Executive Cnmmittee) may employ such
clerks. managers and agents rs they deers
% sential for the good OF the Company, aud
thew are also empowered to make such ar
with parties who desire to be-
coma Stockholders in this Corporation as
,hey may deem advantageous to the corpora.
,;o,, and determine in villa, proportion the
stock snail be paid, and to make such By
laws and Regulations as they may deem
necessary for the government Of the officers
and EMPLOYEES OF said Corporation.
ART, XXI. The Directors shall have
full, power and authority to issue BondA to
borrow none , and endorse Bonds, which
may he issued by any person or corpora
ton for the purpose Of assisting in the con
struction of said Railway, Provided that
the Indebtedness of the Company shall not
al any time exceed two-thlrds Of The CAPT.
tai stock-and the Directors shall have full
power and authority to pledge or M ertgage
said Railway or property of this Corpora
ton as security for nj new borrowed. or
Bonds issued, 10 secure the performance
Of any lawful contract Of said Corpora ton
which at no time shall he greater than
Twelve Thousand Dollars per mile Of road.
All deeds, bonds and Mortgages shall be
signed by the President and Secretary
of this company. The Bonds issued shall
not exceed Eight Thousand Dollars to
the mile Of road and the stock issued shall
no, exceed Twelve THOUSAND Dollars to the
mile OF road. Said Bonds 10 draw interest
not exceeding eight percentum per annum
ART. NXllI. The Directors may call
special meetings of the Stockholders At any
time they deem il expedient, and shall call
such meetings when thereunto requested 10
writing by . majority Of Stockholders by
shares, of which meeting four consecutive
weeks previous notice in some weekly news
paper pU tlished in the county where the
principal Office OF the Company is located,
snail be given Of ths time and place Of hold
ing such meeting.
ART. XIV. No sale or transfer OF the
franchises Of .hisCorporatien shall be made
without tie consent Of three fonrths vote |
Of the Stockholders present At Getting
specially called for that purpose, of which |
notice shall have been published four con-
secutive weeks in some weekly newspaper
published in the county. where the priaci-
pal Office of the Corporation is located.
Arr. XIV: These Articles Of Incor-
poration may be altered or amen led 1t |
any meeting Of the Stockholders after |
thirty days motto !, specifying the proposed |
amendments published in the aforesaid
newspaper. provided that three -fuurths of
all the Stock-sbar represented shall favor