The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1888-05-12

ephoue and telegraph lines as a majority OF
| the directors of said company may from
for the interest of said company. Said
company shall not be restricted in the OK
ercise of these privileges of to or concern
ing either OF said branch lines TO tho State
OF Louisiana but may connect its main line
with any other line or lines in such other
States rs shall authorize the exercise of sand
privilege within their limits: and said COM
pany shall have the right to acquire by ex-
preparation such properly as it may require
for its purposes; and to receive such tolls
and charges as may from time to time be
fixed by the directors OF said company.
Sec. $50 obtain and receive by pur-
chase. grant, gilt, devise and bequoSt both
real and personal property to have and to
bold such real and personal property for
the objects. purposes, intents and business
of said company.
Sec, Ito construct and maintain it's said
line or any part of the same and to have
the right of way therefor across, along or
inlet, street. highway, turnpike or canal,
which it's said line may pass along, inter-
sect, touch or cross.
Sec. $40 borrow money, to purchase or
lease property on its own credits for the
purpose OF constructing and maintaining said
telephone and telegraph line and branches
or establishing continuous or connecting
lines as herein before provided.
ARTICLE ".
All legal process shall be. served upon
tho President, or in his absence, upon the
secretary. treasurer or general attorney of
ARTICLE ".
The amount of capital stock of this COR
poration shall be the sum of $4,000 pO} six
thousand dollars, consisting of I2OO) twelve
hundred shares of $50 COY fifty dollars each
par value.
ARTICLE VI.
The time and manner of paying subscrip-
ttons for stock of this corporation shall DO
determined by tho board OF directors; ex-
cent that stock Shn1l ha iSS,,oH hxyt "a
company unless it be for services rendered
or for money Or property actually received
or Tor labor done.
In event of failure on the part of any
subscriber to pay the whole or any portion
of his subscription at the time or times or
in the manner fixed by the directors, tho
shares of stock SO subscribed for under such
subscription and all Payments made there
under shall DO forfeited to tho company
without any further action on tho part Of
the company; but all liability of said sub
scriber to said company by reason Of such
unpaid subscription shall, upon such for
foiture, cease.
ARTICLE VIII.
. Until such forfeiture no stock hoitle shall
be held liable or responsible for the con-
tracts, faults or obligations OF said company
i'll any further sum than the unpaid balance
to the company on shares owned by him Or
her.
ARTICLE IN.
Tho corporate powers of this company
shall be vested i'll u board of directors COM
posed of five stockholders TO he elected M
nually on the first Monday in December OF
each year, and in such other officers and
agents as may from time to time be an
pointed by said board. In event the annual
election above referred to does not take
place the existing board of directors shall
continue to exercise the functions of Office
until their successors are legally elected
or other disability of any officer or director
the remaining directors shall have power to
I'LL the vacancies caused thereby. The di-
rectors shall elect one OF their member to be
President and may elect from themsel Ives
or appoint from others outside of the d.
rectors one person to be secretary and an
other to be treasurer of said company or If
tho board OF directors so DESIRE the secre-
tary and treasurer may he combined in one
person. Said directors shall have power to
make and prescribe such bylaws, rules
and regulations for tho government of tho
company as they may deem advisable and
shall have power to alter, amend or revoke
the same from time to time rs they shall
see fit. An election for directors shall be
by ballot and every stakeholder shall DO
entitled to one vote in person or bv written
proxy for each share of stock owned by
him. Three directors shall constitute a
quorum for tho transaction of bnsineas.
ARTICLE X.
This charter may DO modified. altered or
amended or this corporation itSolf dissolved
at general meeting of tho Stockholders
convened for that purpose with consent of
three tOurthS Of tho stock of the COMPANY
and upon It vote of two thirds Of the stock
company represented at such meeting: and
III event of such dissolution, the liquidation
shall DO conducted by three commissioners
elected by ballot at such meeting: mt the
termination of this charter tho liquidation
shall be conducted by n similar board of
commissioners to.be in tho same way elect
cd at Il general meeting of the stockholders
convened for that purpose.
The first board of directors of this cOrpo-
ration shall DO composed of Moses Elder,
II. j: Blanks, @. A. Singer, Il. G. Hudson,
and John =. Parker. In testimony whereof
we tho said parties hereunto sign our names
in tho presence of II. X. Russell and JOS. T..
McGuire, Witnesses of lawful ago and DOM
icl, who together with said parties sign
their names hereto before Austin Green.
Clerk OF 9Th Judicial District Court and
EN.oflicio Notary Public, within and for
said parish Erusures and interlineatiou
mado before signing.
l.. G.. HUDSON
ROBT. j. NELSON,
S. MEYER,
A. =. SHOLARS
FRANK =. STUHBS
JOHN =. PARKER,
q. n. SINGER.
Attest:
II. II. RUSSELL.
JOS. f. MCGUIRE.