Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1886-05-01

ing, to-wit
: ARTICLE |.
The name and title of said Corpora
ton shall be
"AsHLY LAND COMPANY"
and its domicile at the main Office ofsaid
Company on Ashly Estate, in Madison
/. Parish, state of Louisiana;bu said dom
icile may in the discretion ofthe Direct
DRY 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 ereof
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 be served.
Said Corporation shall have power
and authority to contract, sue and be
sued under its corporate name-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 hypothecate under
Its 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 its 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 NAV 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 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 NAV be
necessary and proper, and the same to
change, amend, and alter at pleasure.
ARTICLE III.
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
lmmigratlon-to cultivate cotton and
other products of the soil and generally
TO foster agriculture and the raising of
stock-tO manufacture cotton, cotton
seed oil and wooden yarns and cloths.
either or all to manufa cture lumber.
and to generally manufacture anv and
all OF the raw products of of this State. |
10 keep W harf Boats and Public Land |
lngs 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 to generally de-
velope the resources of the corporate
property.
ARTICLE III.
The capital stock is hereby
Hundred Thousand Dollars.
{ $500 ,000,) divided into or represented
by two thousand shares of the sum of
one hundred dollars each. But the
stock holders of said company NAV from
Tune to time by majority vote increase
its capital.
ARTICLE ".
The business and affairs of said Cor
poratlOn shall be under the supcr-
and management of a 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 any
annual meeting of Stockholders, if SO
desired, provided the vote cast in favor
u such change shall be a majority of ,
the whole stock issued.
The Stockholders shall meet annual
y for the consideration of the business
II the Company and the election of a
BOARD of Directors. Said BoarI of Di- ,
'ectors shall be elected for
he term of one year and majority of
he votes cast shall elect. In the event
IF failure to elect Directors at tbe
lime stated, the old Directors shall con.
lnue to serve until their successors are
iuly elected. All such elections shall
De by ballot. Each share of stock shall
De entitled to one vote either i'm per
ION or by proxy: And ten davs prior
iotice OF such election shall be given
PuplcatiOn In newspaper
' - IN the Parish of
or In the I
lty OF Nicksburg, Mississippi. The said
foard OF Directors shall have full pow
r and authority to appoint such ofIi-
ers, clerks or agents as they NAV deem
lecessary for the business of said Com
ANY: and to make and establish as
rel as to alter and amend any and all q
ylaWs, rules and regulations as thew ,
nay deem necessary for the protect on a
Import and management of the affairs II
interests and business of said COMPANY %
nd said bylaws shall also fix the time /,
nd place for annual meetings and de- -
ne and restrict the duties and powers
all officers of the Company.
majority of the Directors shall n
cnSutute quorum for the transaction
business, and any vacancy which
lay occur in any Board from death or
esignation, shall be filled by the re-
lalnlng Directors. Directors shall nj G.
neir regular annual meetings elect one ~
their number to be President of the
operation, and shall Also elect a Sec.
'tary and Treasurer who shall give f,
ich bond as the Directors shall re- NJ
IRE. 1t shall not be essential that
lie person so elected Secretary and W
reasurer shall be stock holder. All to
1lcnrS of tha II,