Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-05-08

Parish, stat" OF lOulSlana:tut said dom
icilc mayin the discretion of the Direct
DRY be changed t. any other locality,
not Inconsistent with the laws of this
State.
said Corporation, shall exist and
have and CninV succession undcritS cor
puratc name for the term and period
of ninty nine years, commencing OF.
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
J. Company are hereby designated as the
officers on whom all citations and other
/ legal processes shall be served.
Sud Corporation shall nave power
aad authority to contract, sue and be
! sued under its corporate name-tu
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
I and pcrSOna!-tU make, sign, and en-
/ dorSc TrUmisory notes, bonds. drafts.
and bills of exchange in the Transaction
of its businCSS-t0 borrow such sums Of
money as may be required in the man
/ agcmcnt, purchase. cultivation, im-
T
: development of lands and other proapr-
/ ~ and all or any kind of improvements.
and the promotion of other corporate
interests, and for this purpnse NAV is
sue bonds or other obligations, secured
by mortgage upon the franchises and
al or any part of the property, both
real and personal Of said COMPANY.
with power to sell, pledge or othcrwi 50
dispose of said bonds, and to use the
same in purchase and PAYMENT for
property. To name and To appoint
such Managers. Directors and officers.
and 70 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 10
change, mend, and alter at pleasure.
ARTICLE IL.
The purposes for which this Corpor-
alton is established are declared To- hp.
To buy, hold, cultivate, improve and sell
land, and with power to mortgage and
cnCumber the same. to construct and
maintain works of land Reclamation.
drainage and protection-to promote
lInmlg ratiDn-to cultivate cotton and
other products Of the soil. and generally
to foster agriculture AMI the raiSin" Of
Stpck-tO manufacture cotton, cotton
seed oil and WGOlen yarns and cloths.
either or all to manufacture lumber.
and to generally manufacture any 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 20 its property: TO
construct and maintain Telegraph lines:
Telephone lines, Railways, Canals,
Plank roads, and covered roads: 10
improve and navigate the WATERWAYS
leading to, passing through and cOntig-
uoGs to said lands. and to general de
velope the resources of the corporate
property.
ARTICLE III.
The capital stock is hereby
fixed at the sum Of Two
Hundred Thousand Dollars.
1920 ,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 majority vote increase
its capital.
ARTICLE ".
The business and affairs of said Cor
poration shall be under the super
lntendcnce and management of Il Board
of Directors composed three 81 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 any
annual meeting of Stockholders. 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 /
ly for the consideration of the business
of the Company and the election of a
Roard 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 10 elect Directors at the /
time stated, the old Directors shall con /
tinue to serve until their successors are .
duly elected. All such elections shall .
be by ballot. Each share of stock shall .
De entitled to one vote either i'm per
son or by proxy: And ten davs prior .
notice of such election shall be given .
by publication I'm Il newspaper
published in the Parish OF /,
OF Madison, Louisiana, or in the .
CITY OF Nlcksburg, Mississippi. The said .
Hoard OF Directors shall have full pow
er and authority to appoint such Off
GERS, clerks or agents rs hey NAV deem
necessary for the business of said Com
pany: and to make and establish as
well rs to alter and amend any and all
bylaws, rules and regulations as they
may deem necessary for the protection
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 AMI de-
fine and restrict the duties and powers
Of all officers of the COMPANY.
\ majority Of the Directors shall
quorum for the transaction
Of business, and any vacancy which
may occur in any Board from death or
resignation, shall be flied by the re-
naming Directors. Directors shall at
heir regular annual meetings elect one
)t their nuInbe to be President of the
Corporation, and shall also elect a Seq
rotary and Treasurer who shall give
such bond as the Directors shall re-
luire. Ii shall not be essential that
he person so elected Secretary and
Treasurer shall be stock holder. All
officers of the Corporation shall hold
heir offices until their successors are
July elected and qualified,
ARTICLE V.
No stakeholder shall ever be liable or
'esponslhle for the contracts or faults
II sad corporation in any further sum
han the unpaid balance due the Com
)any on the shares owned bv him or her
lor shall any mere informalitv in or
'anlZatiOn have the effect OF rendering
his charter null. or Of exposing any
itOckh Older to any liability beyond the :