The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1873-02-06
Articles Of Incorporation.
article. u Incorporation Of tie People,
lNarrou Gaags Railroad Company Of
Io,1.

dFUC<S ~ AWsV(W ~
Narro,v Gaags Railroad Company Of
Io.aa.
BE IL remembered that tho following Ar
ticlss OF Incorpsraticn are adopted and Mel
for the purpose OF constructing and operAt>
ing Railway from Davenport in Scott
county. State Of lowa) on the most practi-
cable route via Upton lin Cedar county,,
Linn. johnson and Benton counties
Spring Creek. Union Grove in Tama
county, Elder., Iowa Fails Qn har-
din county, - some point on the Mis-
.suri River, in the State Of Iowa, with
4 single or toubls track, branch roads, con.
pec,ious and extensions, and ofsueh gusgs
| A NAV seem best to the ofhcsrs OF the Cor
poraiion,
AxT. I. The name Of this Corporation
shall BE- the Peoples Marrow Guage Rail-
rad COMPANY Of Iowa. and ito principal
Office Of business shall be at Spring Greek,
rsma county, Iowa, until otherwise de-
eided. SIS.
ART. H. This Company assumes, - .
corporstiou. all the powers, privileges aud
immun,tie, specified in Chapter So Of the
Revised Statu,es cf the Legislature Of the
State OF Iowa Of the year 1860, and the sew.
eral acts amsnda,ory thereof and enrplc !
uentary thereto, the power bargaining
BY grant, rift, demise, purchase or coniem-
| nation and helling, using and transferring
| in any ma md, not prohibited by law, all
real and personal esta,e such 40 may be
REQUIRED and 10 necessary end convenient
I 10 FULLY carry out the object and purposes
Of this corporation in the prosecution Of ito
business.
ART. III. This Corporation shall adopt
q corporate seal and shall have power to
sue and be sued, and to prosecute and dc.
fend oil ac,ioas and special pro ceedings in
,ts corporate name and capacity, to make
,ll contracts fer the building aud cosstruc.
ton OF said road, and conducting the af
u, Laws and Regt alions for the complete
government Of said Company, aqd DO any
and all acts and things whatsc.ter not in
consistent with the purpose Of this Coipo-
ration and the laws Of the Statet Of lows.
Art. Nv. The Corporation shall com.
mence on the Let day Of January A. D. 1873
and continue Tor FIFTY years with the right
Of renewal. /.
ART. V. The management, government,
and eontrole Of this road shall b and rest
forever in the resident stockholders Of the
state Of Iowa, and shall also forever be sub.
jsct u the Articles, Bylaws AMI RegulA-
lions Of THE Cooperation.
ART. vi. The Capital Stock Of this
Corporation shall b Two Million Dollars,
but the Same may ~ any time, BY vote Of
twe-thirds Of the Stockholders, or, If deem.
ed necessary, by the Board Of Directors be
increased or diminished ~ any regular
meeting.
ART. VIZ The steck shall BE- divided
into shares Of Fifty collars each.
ART. VIII. No person shall be entitled
10 more votes than one hundred shares.
ART. TX. The shares shall DO transfer
able from aud after the date CT completion
of the read from Davenport to Iowa Fails,
but such transfer must be made and entered
on the Books Of Record Of the Company,
and No stakeholder shall be entitled to
vote, or votes, on stock, not appearing on
said Records, by the person claiming to
own the same. Notice Of any such trans
fer and sale Of stock by stock holders must
BE- given forthwith 70 the executive officers
OF this Gorpotation.
ART X Any person. owning one or more
shares Of the stock, shall be considered .
member Of this Corporation and shall At all
regular meetings Of the Stockholders be en-
4:-a = ve1e, f.. ~-.A. Si'..~ - ssnok
owned BY SUCH persons, provided, - hereto
fore stated in Article VIII. ana fiay cast
such vote BY any other person hereto su-
thorised 10 writing for the purpose
ART. II. No part Of the Stock is re-
quired to be paid at the time Of subscrip-
ton. After the amount Of 100000, Of
the Stock 10 subscribed tho Directors may
order each instalment to DO paid On shares
- they may deem necessary, fer the speedy
construction Of said road. or any part there
Of. But no i,s,allment shall exceed twenty
per centum At any one time, and shall not
be ordered more oftsn tnan once in one
month. Notice Of such miscellaneous re-
quirsd shall be inserted in some news
ps per published in the county, where the
principal Ofics of the company 10 located.
ART. XII. The Company shall have
lien upon ell the Stock subscribed for all
unpaid installmcn.s, and the Directors may
declare oil such previous payments thereon
forfeit ID, II the installments levied are not
paid within ::thirty days after they become
due, and they shall bs due one week from
The publication ~ Aforeaaid.
ART. XIII. Tho private properly Of In
diyidual Stockholders shah 10 exempt
from the payment Of the corporation debts
and Liabilities Of said Corporation
ART. XIV. The Board Of Directors
| uhsll elect from their own numbsr an Exc
eu.ive Committee sompessA Of . President
Vice President, Treasurer and Secretary,
whose duties shall BE- such % generally
pertsiA to sucL Offices, and said Directors
| shall hll all vacancies in said Board. Said
officers shsll held their Offices until their
\ successors srs elected and qualified
ARR. XIV. The Board Of Directors
shall BE- Stockholders Of the corporation
and .. least three for.hs Of them shall BE-
residents Of the State of Iowa.
AKT. XVI TIE Treasurer and tn.
Secretary shall be required 10 give sue.
sufficient Bonds and approved Sureties -
said B1ard Of Directors may require an
deem best for tle corporation.
ART. XVII. All proceedings Of said
Executive Committee st its meetings shall
Be recorded 10 the book Of minutes by he
Secretary, il prssest, il net the minutes
shs be signed BY the committee aud fled
with III Fec rotary. who shall enter The
same On the records Il tho Compauy.
ART. XVIII. TIE annual meeting Of the
Company shall Do held u i.s principal o.
ace Of Business on the frat Tuesday in
June each year, q which time the elsc,ioa
of Directors for the ensuing year shall TAXI
place. and - soon thereafter - pre- .ticsbls
ths board Of Dirsessrs % elected shall selscl
from their Number President. Vice Prssi-
dent, Treasurer and Secretary for the On.
suing year.
ART. XIX. The Secretary shall keep .
full asd cerrect account Of oil Affairs, aud
proceedings Of the Company, whick shall
1t al Tires during the business hours
and daysl b. subject to the inspection Of
any 6ssekhsldsr.
| ART. Xxx. The. Board Of Directors (or
the Executive Committee may employ such
clerks, managers aud agents ~ they deem
elssntisl for tho good Of tho Company, and
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