Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-05-22
"AsHLY LAND COMPANY

and it's domicile at the main office of said
COMPANY on Ashly Estate, in Madison
p arish, State of but said dom
icile NAV in the discretion of the Direct
ory be changed to any other locality, |
not inconsistent with the laws Of this
State. Il
Said Corporation, shall exist and
have and enjoy succession underlts cor,
porate name for the term and period
of ninty nine years, commencing on,
and to be counted from and after the
day and date h ereof.
The President, and in his absence the
G eneral Manager, and in the absence
| of both of these, the Secretary of the
| Company are hereby designated as the
officers on whom all citations and other
legal processes shall be served.
Said Corporation shall have power
and authority to contract, sue and be
sued under it's corporate name-tO
make and use corporate seal, the same
to break or alter at will-to purchase,
receive, hold, and convey, as we'll as
lease, mortgage and hypothecate under
it's corporate name, property, both real
and personal-tO make, sign, and en-
dorse promisory notes, bonds. drafts,
and bills of exchange in the transaction
of it's business-to borrow such sums of
money as may be required In the man
agement, purchase, cultivation, i'm
provement, reclamation, protection, and
DEVELOPMENT of lands and other proper
ty and all or any kind OF improvements,
and the promotion of other corporate
interests, and for this purpnse may is
sue bonds or other obligations, secured
by mortgage upon the franchises and
all or any part of the property, both
real and personal of said Company,
with power to sell, pledge or otherwi Sc
; dispose of said bonds, and to use the
same in purchase and payment for
property. To name and to appoin t
such Managers, Directors and officers,
|, and to make and establish such bylaws,
rules, and regulations for the proper
management and government Of the
necessary and proper, and the same to
, change, amend, and alter at pleasure.
ARTICLE ii.
The purposes for which this Corpor-
, alton is established are declared to be,
, to buy, hold, cultivate, improve and sell
land, and with power to mortgage and
, cucumber the same, to construct and
maintain works of land reclamation
drainage and protection-to promote
y Iimmigration-tO cultivate cotton and
, other products of the soil, and generally
! to foster agriculture and the raising OF
I stock-tO manufacture cotton, cotton
seed oil and wooden yarns and cloths
either or all to manufacture lumber
and to generally manufacture any ant
all of the raw products Of of this State
: To keep Wharf Boats and Public Land
. ings at points controlled by the Com
pany and important to its property: IL
r construct and maintain Telegraph lines
Telephone lines, Railways, Canals
). Plank roads, and covered roads: tt
q improve and navigate the waterway
eading to, passing through and contig
n nous to said lands. and to generally de
yelope the resources of the corporate
property. -
~ The capital stock is hereby
, fixed at the sum OF Tw'
d Hundred Thousand Dollars
by two thousand shares of the sum o
J. one hundred dollars each. But TIL
stock holders of said company may fron
time to time by majority vote increas
II its capital. -
The business and affairs Of said Col
II poration shall be under the super
intendence and management of Boar
}, of Directors composed of three 81 stock
e holders, each of whom shall own in hl
own name at least one share Of the Cap
e tai stock of said Company. The humble
IL of Directors may be increased at an
annual meeting of Stock holders, if 6
"a. desired, provided the vote cast in fave
4 of such change shall be q majority Q
the whole stock issued.
1t The Stakeholder rs shall meet annua
~ " for the consideration of the bushes
" of the Company and the election of
7, Roard of Directors. Said Board of d
a rectors shall be elected fl
~ the term of one year and q majority {
10 the votes cast shall elect. In the even
of failure to elect Directors at tn
- time stated, the old Directors shall col
he tinue to serve until their successors al
:, duly elected. All such elections sha
"a be BY ballot. Each share Of stock sha
ne be entitled to one vote either in pc
son or by proxy: And ten days prie
Vi notice Of such election shall be give
by publication in q newspap'
published in the Parish =.
T.