Louisiana capitolian. (Baton Rouge, La.) 1879-1881, 1881-10-15

dnAs0O - a1eAy
on THE
Mid-l0lisiala Railroad Comp !.
WE, Thompson j. Bird, Douglas G Monian,
w Leon Jastremski, John W Bates, Charles
Week and Andrew 3. Heron residents Of the
State Of Louisiana, by virtue Of the provisions
Of the Law Of Louisiana, for the organization Of
Corporations for work Of pnblic Improvement
do, for ourselves. our associates, and success
sors form ourselves into and constitute Cor.
porati0n for the following purposes and with
the following powers. to.wit:
Section lst. The name, style and title Of this
Corporation shall be the Mid Louisiana Rail.
road Company" under which title 1t can sue
and be sued. buy, sell lease, sub lease, and
hold real and personal estate, including rail.
way aud other properties, under the Law Of
Louisiana, and shall have and enjoy such other
rights, and follow such other pursuits a. are set
forth In the following section. The dOmicile Of
the Company Is fixed in the CITY OF Baton Rouge,
The President Of the Board Of Directors or act
ing President thereof, is designated as the off.
Ger on whom citation may be served in any
legal proceedings against the Company.
Section ed. The object Of this Company Ia to
build own and maintain line Of railway from
a point to be selected OH the Enst bank Of the
Sabine river within two hundred miles n fila
Gulf of Mexico, through or near the town If
Opelonsas to Baton Rouge, to point to he se.
lected on the West bank on the Pearl River.
South Of sthe Mississippi boundary line, and to
connect with, either as owners, lessees, or upon
any other business basis any line of railways
that may be built 0ntside the limits OF the State
Of Louisiana, west of the Sabine and eastof The
Pearl River To also build buy, lease, or 9th.
erwise obtain branches to any point within the
confines Of the State of Louisiana and buy mr.
lease any complete O, incomplete line of rail.
road that NAV subserye the purpose. and ineor.
porate the same in the main line of the Com.
pany
Section Sd. The Capital Stock ofthis Comma.
nv shall consist of FIVE million dollars. divided
into tifty thousand shares of one hundred dol.
lars each, within one week after the expiration
OF the egald, lays incidental to same and pub
licat0n of this Charter, subscriptiOn books may
be opened at Baton Rouge under direction NJ
three Commissioners, 10 5e aDpointel as here.
matter directed and said Commissioners shall
require ut the time of subscription. that each
subscriber pay the snin OF one per cent mon
the amount subscribed by him, the balance to
oe paid UPON calls made at intervals not less
than ninety days apart. At the close OF three
days, II ut least one hundred thousand dollars
Shall have been subscribed, the said Commits.
sioners shall order an election. to take pace on
the fifth day thereafter mot counting dies nom
forseyen Directors, who shsl after their organ.
ization, deal directly with said subscribers. in
the settlement of their subscriptions, issuing
call by regular resolution No stockholder shall
be responsible for any debt or liability of the
Company to more than the extent of his sub
scription, this extent being limited by this pro-
yiso that in response to any call for balances
due. subscriber may tender full relinquish
lnent of amount already paid by him. and sur
render all claims for Stock, or be may tender
such additional sum as the Board OF Directors
may agree to accept and 70 issue fully paid nm
certificates Of Stock for amount of original per
centage on amount paid in response to any prior
calls. all added to amount III addition rendered
and accepted by the Board Of Directors. The
Board of Directors upon receipt of tender OF
REIMBURSEMENT from any subscriber in response
to call, shall release said subscriber from all
responsibility and at their option forfeit aud
erase said subscription, OF sell, after ten DAYS
notice, said Stock at auction for what it will
bring, entering the purchaser name Ia lien of
the original subscriber, and issuing to said pur.
chaser certificates for full amount Of original
subscription, said purchaser 10 have and to h Id
said stock in its entirety without further pay.
ment. In case OF erasure and forfeiture, the
Stock so declared erased and forfeited will be
merged into the account of unsubscribed and
unlssued Stock. Ii Is understood that Stock
whether paid for in part or in full shall be liable
to this Company f.r it's pro rata Of taxes paid
by the Company, and that If after ten days no.
tice said per csntage Is not paid said Stock may
be sold at auction without appraisement. TO sat.
lsiy, IN part or WHOLE the pro rata due upon it.
The Commissioners appointed TO open the sub.
scrlption books and supervise the first election
OF Directors, are W. u. Randolph, ". Wax and
George Henderson, or III default Of any one or
more not serving any subscriber or subscribers
to thisCharter may till tho place or places made
vacant.
Section 4th. The number of Directors of this
company snail Do seven. all OF whom shall be
stockholders IN the Company. AT their first
meeting one OF their number shall be elected
President, who. with the Board will serve until
the first Monday OF May, 1852, or until their
successors shall De elected. And annually
Thereafter, aiter tnis days advertisement, an
election shall be held on the first Monday in
April, Tor seven directors. Any vacancy in the
Boa:d shall be filled by the Board of Directors.
The Board Of Directors shall elect all oth.r Off
GERS OF the Company and fix their salaries. and
snall nave the general management and control
OF the AFFAIRS OF the Company.
Section 5th. This Company shall exist nine.
lynne years, unless sooner placed in lquida-
dation by its Stockholders who. is order to
place the Company in liquidation, shall meet
after thirty days notice, elect three StockhoId.
ers commissioners of Liquidation provided
the vote OF two-thirds of the Stock shall be cast
in favor OF liquidation, and for the Commission.
ers, VINO shall have full power to legally and
equitaDly liquldate the affairs OF the Company.
The affairs OF the Company shall be- LIQUID tted
IN the same manner at the expiration of the
Charter, provided in the case, no call is re0ured