Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-05-15


andits dOmicilc at the main office of said
Company on Ashlv Estate, I'm Madison
Parish, State but said dom
| icile may III the discretion of the Direct
ory be changed to any other locality,
not inconsistent with the laws Of this
State.
Said Corporation, shall exist and
have and enjoy succession underits 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 hereof.
The President, and in his absence the
General 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 he served.
Said Corporation shall have power
and authority to contract, sue and be
sued under its corporate namc-to
make and use corporate seal, the same
to break or alter at will-tO purchase,
receive, hold, and convey, as well as
lease, mortgage and hypothecatc under
its corporate name, property, both real
and persOnal-tO make, sign. and en-
dorSc prOmlsOry notes, bonds. drafts,
and bills of exchange in the transaction
of its buSiness-to borrow such sums of
money as may be required in the man.
a@emcnt, purchase, cultivation, i'm
prOvement, reclamation, protection, and
development of lands and other proper
~ 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 otherwise
dispose of said bonds, and to use the
same in purchase and payment for
property. To name and to appcint
such Managers, Directors and officers.
and to make and establish such bylaws.
rules, and regulations for the proper
management and government of The
affairs of said Corporation. as NAV be
necessary and proper, and the same to
change, mend, 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
immigration--tO cultivate cotton and
OF her products Of the soil, and generally
to foster agriculture and the raising of
stpck-tO manufacture cotton, cotton
seed oil and wooden yarns and cloths,
either or all to manufacture lumber.
and to generally manufacture anv and
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: TO
construct and maintain Telegraph lines:
Telephone lines, Railways, Canals,
Plank roads, and covered roads: TO
improve and navigate the WATERWAYS
leading to, passing through and contig-
uous To said lands. and 10 general V de-
veiope the resources of the corporate
property.
ARTICLE III.
The capital stock is hereby
fixed at the sum Of Two
Hundred Thousand Dollars,
$500 ,000,) divided into or represented
by two thousand shares of the sum of
one hundred dollars each. But the
stockholders of said company may from
time to time by a majority vote increase
its capital.
ARTICLE ".
The business and affairs of said Cor
poration shall be under the super
intendence and management of Board
of Directors composed of three 80 stock
holders, each of whom shall own in his
own name at least one share of the Capi-
tai stock Of said Company. The number
of Directors may be increased at anv
annual meeting of Stock holders, if so
desired, provided the vote cast in favor
Of such change shall be majority of
the whole stock issued
The Stockholders shall meet annual
~ Tor the consideration of the business
OF the Company and the election of n
BOARD Of Directors. Said Boarl of Di-
rectOrs shall be elected for
the term of one year and majority of
the votes cast shall elect. In the event
of failure to elect Directors at the
time stated, the old Directors shall con-
tlnue to serve until heir successors are
duly elected. All such elections shall
be by ballot. Each share Of stock shall
De emitted to one vote either in per-
son or by proxy: And ten DAYS prior
nouce OF such election shall be given
by publication in newspaper
published in the Parish of
OF Madison, louisiana, or in the
city of Nicksburg. Mississippi. The said
Roard Of Directors shall have full pow
er and authority to appoint such Off
GERS, clerks or agents as they NAV deem
necessary for the business of said Com
pany: and to make and establish as
well as TO alter and amend any and all
bylaws, rules and regulations as they
may deem necessary for the protect on
support and management of the affairs.
interests and business of said Company,
and said bylaws shall also fix the time
and place for annual meetings and de-
fine and restrict the duties and powers
OF all officers of the Company.
n majority Of the Directors shall
constitute quorum for the transaction
OF business, and any vacancy which |
may occur in any Board from death or /
resignation, shall be filed bv the re-
manning Directors. Directors shall Mt
their regular annual meetings elect one
OF their Der to be President of the
Corporation. and shall also elect a Sec /.
rotary and Treasurer who shall give
such bond as the Directors shall re- :
quire. 1t shall not be essential that I.
the person SO elected Secretary and
Treasurer shall be a stock-holder. All /
officers of the Corporation shall hold .
their Offices until their successors are /
duly elected and qualified,
ARTICLE V.
No stakeholder shall ever be liable or .
responsible for the contracts or faults /
of said corporation in anv further sum
than the unpaid balance due the Com
pany on the shares owned by him or her
nor shall any mere inforinalitv in or
,-ari tfnr bayo Tho 1H,,t 6