Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1874-01-10
PROCEEDINGS OF THE OLYMPIA RAIL-
ROAD Union

Pursuant 10 notice the first meeting
of the trustees Of the OLYMPIA Railroad
Union wa. held n Gcn. Stevens office
last Tuesday evening. Marshall Blinn,
I. Z. McElroy, S. w. Percival, n.
Ostrandcr, \. \. Philips, S. D. Howe,
+. \. Hoffman, +. Henry, Ira Ward,
r. W. Ryerson, q. w. Biles, Hazard
Stevens, were present.
Each of the trustees having sub
. scribed stock and taken an oath faith
fully to discharge his duties, the books
were declared open.
The following Bylaws were then
passed after full discussion:
l. OrrIcEps.,-,T The corporate powers of this
company shall Ire exercised by a board of
seventeen trustees, who shall elect by ballot
from their own number Il President. Vice
President, Secretary. Treasurer and board eff
,. MEErINos- ELECTION OF TR;'arEEs.-Thc
regular annual meeting of the stockholders.
shall he held on the first Monday of Novenl-
Der of each year. at the office OF the company,
in the town of Olympia, and such other meet
ings of the stockholders, ut such times as the
board of trustees may direct to be called bya
notice published in one or more of the Olym-
liia newspapers.
At the regular annual meeting trustees to
/
and their terms of office shall begin imne-
diatclv after election. The trustees named in
the article of incorporation before the cxpir;l-
ton of their term OF Office shall call Il meeting
of the stockholders to elect trustees to serve
until the regular meeting in November.
3. SUBSCRIPTIONS AND PAYMENT OF Srocx.-
Subscriptions to the capital stock may be
paid III lands goods articles of value, mater
ialS or laborto be approved and appraised by
the hoard of appraisers
All paid up apital stock shall be forever
I l.l.a
tax from the Company. Cash subscriptions
shal bc paid, ten per cent. when subscribed
and the balance rs required by the board of
trustees in in>tallmcnts of not more than ten
per cent, at any one assessment.
No certificate shall he issuedcXccpt ttor,paid
up stock. All property and labor shall he
appraised at its actual cash value.
4. TRANSFER OF SroCK.-SharcS in the com
pany may be transferred at any time i'll the
same manner as negotiable paper.
The trustees; on motion OF Mr.. Henry; then
procccdcato elect officers. ON the first ballot
Mr.. Blinn thanked the trustees, but premp-
torily declined to act as President on the
ground that his other duties would not per-
init him to devote his time and attention to
the office.
Upon further halloting, IIaz3rd Stevens
was elected President: $. ID. Howe: Vice
President: +. A. Hoffman, Secretary; +: w.
| Rycrson, TrcaSurcr:T. +. McElroy. Ira Ward
s w. Percival, Board of appraisers.
On motion of Mr.. Ward, amended by Mr..
! BilcS, it was resolved
That the officers procure the necessary
books blanks, ETC., and take such steps as
may be necessary to carry ont the objects of
the Union, and that the Treasurer pay bills
| for necessary expenses upon the order of the
President, attcst"d by the Secretary.
On motion of Mr.. Ward, it was resolved
that the President, Vice President and Secre-
tary contract with II. i. Morris, Esq, G.:
T., upon the best terms for survey. report and
estimates of railroad from Olympia to inter
sect the Northern Pacific Railroad at or ucar
| TeniuO.
On motion of Mr.. Howe, Mr.. Munson was
authorized to collect subscriptions made for
survey and to organize and unite railroad
| interests: and was instructed to pay over his
| collections to the Treasurer.
| Hazard Stevens delivered to the Treasurer
! the subscription roll above mentioned, and
one hundred dollars being the amount thus
far collected.
On motion of Mr.. Ward il was resolved that
the subscription of ten dollars on the above
roll be taken in payment of the first install
mcnt upon one share of stock to he sub
scribcd by the party.
On motion Of Mr. Biles, the meeting adj
journcd to meet at the call of the President.
HAZARD STEVENS,
Secretary of the first meeting.