Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-04-17

andi domiCile at the main office of said
COMPANY on Ashly Estate, i'll Madison
Parish, State of but said dom
icile may in the discretion Of the Direct
orv be changed to any other locality,
not inconsistent with the laws of this
State.
Said Corporation, shall exist and |
have and emo succession undcrits cor
porate name for the term and period |
Of ninty nine years, commencing on,
and to be counted from and after the |
dav and date hereof,
The President. and in his absence the !
General Manager, and i'll the absence
of both Of these. the Secretary of the
Company are hereby designated rs the
officers on whom all citations and other
LEGAL processes shall be served.
Said Corporation shall have power
aud authority to contract, sue and be
sued under it's corporate name-tO
make and use corporate seal, the same
to break or alter az wiil-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 prOmisOrv notes, bonds. drafts,
and bills of exchange in the transaction
of its business-to borrow such sums of
money as NAV be required in the man
agement, purchase, cultivation, I'M
prOVcment, reclamation, protection, and
/ DEVELOPMENT Of lands and other proper
IL and all or any kind of improvements,
/ and the promotion of other corporate
/ in terestS, and for this purpnse may 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 otherwise
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 to make and establish such bylaws,
rules, and regulations for the proper
management and government of the
affairs of said Corporation, as may he
! necessary and proper, and the same TO
/ change. amend and alter at pleasure.
ARTICLE II.
The purposes for which this Corpor-
/ alton j. 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
! immigrati0n-to cultivate cotton and
other products Of the soil. and generally
10 ltlSi tI dEti'tll tii = anu illt lsiN4ii VI
stock to manufacture cotton, cotton
seed oil and wooden yarns and cloths,
either or all to manufacture lumber,
and 10 genera ly 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
panv 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 TO general de-
velope the resources of the corporate
property.
The capital stock is hereby
Hundred Thousand Dollars.
$500 ,OOO,) 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
ARTICLE ".
! The business and affairs of said Cor
pOration shall be under the super
intendence and management of a Board
Z Of Directors composed fthree 90 stock
holders, each of whom shall own in his
own name at least one share of the Capt.
, tai stock of said Company. The number
of Directors NAV be increased at any
annual meeting of Stock holders, if &C
, desired, provided the vote cast in favor
of such change shall be a majority OF
the whole stock issued.
The Stockholders shall meet annual
" 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 fol
e the term Of one year and a majority OF
! the votes cast shall elect. In the event
l of failure to elect Directors at the
t time stated, the old Directors shall con
=, tinue to serve until their successors are
d duly elected. All such elections shall
n be by ballot. Each share of stock shall
!, be entitled to one vote either in per
son or by proxy: And ten days prior
o notice of such election shall be given
by, publication in a newspape
; published in the Parish o.
I of Madison, Louisiana, or in the
, city ofNicksburg, Mississippi. The sal,
u Roard of Directors shall have full pow
v er and authority To appoint such Oil
), GERS, clerks or agents as they may deem
q necessary for the business of said Com
pany: and to make and establish a
=, well as to alter and amend any and al
4 bylaws, rules and regulations as'the'
n may deem necessary for the protect OF
support and management of the affairs
e interests and business of al Company
and said bylaws shall also fix the tim
: and place for annual meetings and de
V fine and restrict the duties and power
! of all officers Of the Company.
A majority of the Directors shal
A constitute quorum for the transaction
of business, and any vacancy whicl
IL may occur in any Board from death o
{ resignation, shall be filled by the re
manning Directors. Directors shall u
; their regular annual meetings elect on
q of their number to be President Of tn
Corporation, and shall also elect Sec
e rotary and Treasurer who shall Civ
c such bond as the Directors shall re
quire. 1t shall not be essential tina
V the person so elected Secretary an,
II Treasurer shall be q stakeholder. Al
officers of the Corporation shall hol'
their offices until their successors ar
duly elected and qualified,
ARTICLE V.
No stakeholder shall ever be liable o
!. responsible for the contracts or fault
6 of said corporation in any further sun
u than the unpaid balance due the Com
q pany on the shares owned by him or he
i.