Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1877-04-11

more, J. L. Taylor, j. II. Merrill,
John kirkpatrick, J. M. Hedrick, w.
A. McGrew, and p. g. Ballingall.
The report of the committee was
adopted, and the above named gen.
tlemen were chosen directors.
On motion, DR.. j. L. Taylor was
elected President of the company, w.
E. Chambers its Secretary, and e. F.
Blake, Treasurer.
w. E. Chambers then moved that
since the two blanks left in the original
report Of the committee on articles of
incorporation had been filed by the
election of eleven directors and the
election of President, Secretary and
Treasurer, that the articles as thus
completed be adopted as q whole.
Carried.
It was moved and carried that the
city papers be requested to publish
the proceedings of this meeting.
On motion, the meeting then adj
journcd.
The following are the articles of
incorporation as adopted:
articles of Incorporation Of the o.
tumtca- and Northern RdiLyodd
Company:
ARTICLE l. We, the undersigned,
citizens of the State ofIowa, together
with our associates, successors, and
assigns, and all persons who may be-
come stockholders under these arti-
cles, do hereby become incorporated
under the name and style Of the OF
tumwa and Northern Railroad Com
pany, for the purpose of constructing,
owning and operating railroad, and
branches, extending northward from
Ottumwa to Iowa City, in johnson
county, or Cedar Rapids, in Linn
county, or to both points named, with
a branch road at Kirkville, in Wapel-
10 county, Iowa, intcrsecting the Cen
| trail Railroad Of Iowa at Oskaloosa,
or some point between Oskaloosa and
Eddyyiile. : -
ART. 2. The principal place Of
business of said company shall be ut
Ottumwa, Iowa, until otherwise orr
dered by the Board Of Directors.
ART. 3. This corporation shall have
exercise and enjoy al, the rights,
powers and franchises, authorized by
the Fifty-secOnd chapter of the revised
code of Iowa, entitled, Corporations
for pecuniary profit" together with
all the other rights and powers grant,
ed by law to railroad companies.
ART. 4. The capital stock shall be
Three Hundred Thousand Dollars,
and may be increased by the Board
of Directors. The time and condi-
tons upon which it is to be paid in
shall be such as the Board of Direc-
tors may from time to time designate.
| ART. s.. The stock shall be trans
ferable on the books OF the company
at its principal Office, and at such
other place or places as the Board Of
Directors may designate,-the stock
to be divided into shares of One
Hundred Dollars each, and each share
shall be entitled to one vote, either
by the owner or by proxy, at all
meetings of the stockholders.
ART. g. This company shall COM
mence on the 9th of April, A. D.,
1877, aud shall continue fifty years
with the right of renewal.
/ ART. Z. The affairs of the company
shall be managed by q board of eleven
directors, majority of whom shall
constitute quorum for the transac-
ton of business.
ART. 8. Until the annual meeting
in first Monday Of July, and until
their successors are duly elected and
qualified, the following persons are
hereby constituted directors, to-wit
S. d. Carpenter, c. f. Blake, L. e.
Gray, Theophilus Slutz, Samuel Gill
more, j. l.. Taylor, j. III. Merrill,
John Kirkpatrick, j. Nj. Hedrick, w.
A. McGrcw, P. G. Ballingall; and UNI
til the annual election in July, 1877,
the officers shall consist of James l..
Taylor, President; w. E. Chambers,
Secretary, and Chas. F. Blake, Treas
urcr.
/ ART. 8. The annual meeting of the
stockholders shall take place on the
first Monday of July in each year,
and special meetings shall be held al
such times as the President may des-
ignate. Thirty days notice Of any
special Injecting shall be mailed to
each registered stakeholder.
| ART. 10. The Directors are fully
empowered to carry ont tho objects
of this incorporation, and they may
by o unanimous vote, authorize the
President, Treasurer and Secretary
to convey the whole or any part of
the franchise and property of the
company, or by majority vote of
any meeting, authorize the same off,
GERS to execute bonds and deeds of
trust to secure the same on the rail-
road and property of this company to
such extent, and upon such terms and
conditions, as may be deemed for the
best interests of this company in Sc
curing the construction Of said rail-
road. The Directors shall have full
power to fill any vacancy in tho
Board, and to perform all other acts
that they may consider beneficial to
their corporation.
i ART. II. The officers of this COM
pany shall consist Of President, to
be elected by the Directors from their
own number, and also q Treasurer
and Secretary, to be appointed by tho
Directors, and such other officers as
the Board of Directors may desig-
nate.
4 ART. IL. All certificates of stock
and agreements shall be signed by the
President and countersigncd by the
Secretary.
Art. Is. The aggregate indebted
ness Of this company shall in no case
. exceed two-thirds Of tho capital
stock.
ART. IA. The private property OF
the stockholders shall not be subject
to the debts Of tho company. III
ART. Is. These articles may be
! amended at any meeting Of the stock
! holders, after thirty days notice spec.
|. flying the proposed amendments, and
published In at least two papers ON
J. tho line Of the road, provided that
: two-thirds Of all the stock subscribed
Il favor such NEUTRALITY-SUSPICIOUS.
|. may also be made by the unanimous
D vote Of all the Directors.
! 8. ID. CARPENTER,
I G.. +. RLAKE,
{ L. E. GRAY,
2 THEoPHILUS SLUT,
SAMUEL GILMoRE,
j. L. TAYLOR,
ri J. III. MERRILL,
0 JOHN KIRKPATRICK,
]. n. HEDRIcK,
w. A. McGREw,
" i. q. BALLINGALL,
w =. CHAMBERS.