The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1888-07-21
ARTICLE 7.

ton shalt be to build, purchase, charter.
and otherwise acquire, one or more boats
sippi, Red, Ouachita rivers and their tribu-
taries, and thereafter to use, operate, own
enjoy, sell. mortgage, cucumber and dis
Pose OF steam6oats and I'd other water crafts,
warfboats and ELEVATORS, for its own use.
or for elevating, storing handling tho
freight OF other steamboats, or transporta-
ton companies or for any person, to Grams
port freight and passengers by steamboat
or water craft in the Mississippi, Red and
Ouachita Rivers and their tributaries, and
shall from time to time be fixed and dlesig-
mated by the proper officers Of said Com
pany to receive and store merchandise
and property IN its yards, warehouses;, or
WhartbOats, and receive such compensation
therefor as may from time to time he es-
tablished by the officers of said company.
to sue and be sued: and further to do ali
ment of the officers and directors OF said
company for tho welfare and business of
said company.
ARTICLE III,
The capital stock of this corporation is
hereby fixed at the sum OF two thousand
dollars, divided into forty share of fifty
tho time of subscription. The said capital
stock may be increased to a sum not ex-
ceeding twenty-five thousand dollars on
compliance with existing laws.
ARllCLE Nv.
All the corporate powers of this COM
Pany shall be vested in and exercised by a
board of directors to be composed of eight
+: D. McLain, J. NJ: Rabnn, L. Drummer, j.
D; Wimber1yi v: H: Williamson, NJ. 1.
agent, with the said L. D. McLain as Presi.
dent and Treasurer, J. NJ. Rabun Vice
President and M. L. Meredith Secretary.
shall compose the first Board of Directors
n oHlyINn QkNul1 hold
III the first Monday Of July, 1889, and until
their successors shall have been duly elect
cd and qualified, on the first Monday of
thereafter an election for directors shall be
held at the Office of tho company;a ma
jority of votes cast shall elect, each share of
stock being entitled to one vote, either in
person or by proxy; all elections shall be
by ballot; any vacancy occurring on said
board from any cause whatever shall be
filled by the remaining directors.
meeting of the stockholders shall not dis
solve the company but tho directors then
In office shall continue to exercise their
function until new board is elected, four
members OF said board shall constitute n
quorum for tie transaction of all business.
said board of directors shall have the right
to adopt such by laws, rules and regula-
tons for the transaction and management
OF the business and affairs of said corpora
ton as may be necessary and proper aud to
make and use corporate seal with such
luSCElpLlOu Auu u0SlCo NJ Ln0y NAV select.
and shall elect President, Vice President.
Secretary and Treasurer, and all other OFF,
GERS necessary in the transaction of the
business of the company.
ARrICLEv.
This charter may DO tered or amended
or this corporation dissolved by vote of
three, fourths of the stock present or repre-
sented at q meeting of tho stockholders
convened for that purpose after ii fifteen DAYS
written notice shall have been given to
each stockholder or his duly authorized
representive by the secretary to be left at
his place of business or residence or sent to
him by mail or the said notice may DO
given at the option of the president, by
fifteen days publication thereof in one Of
the weekly newspapers of the city of Mon
roe.
Special meetings of the stockholders may
be called by the president or in case of his
upon similar notice.
In the went of the dissolution or at the
termination ofthis charter, the liquidation
Of the affairs Of the company shall be con-
Quoted by two commissioners to be- elected
by ballot at a general Meeting of the stock
holders convened for that purpose, a ma
jority vote ofthe stock present or represent
ed shall elect. The commissioners thus
elected shall at once proceed to settle and
wind up the business of tho corporatiou
sell or otherwise dispose of it's assets and
after paying its liabilities distribute the ex-
cess prorata among the stockholders.
Should either of said commissioners die or
resign, the business and affairs OF said cor
poration shall be liquidated and closed by
the remaining commissioners.
ARTICLE vi.
No stakeholder of this company shall
ever be held liable responsible for the
contracts or faults of tho same in any
further sum than the unpaid balance due
to the company on the shares owned by
hin, nor shall any mere informality in
organization have tho effect of rendering
I his charter null or of exposing a stock hoi-
der to any liability beyond the amount of
his stock.
Thus done and passed In my notarial
office at Monroe aforesaid in presence of
Il. III. Endom and r. &. Hudson competent |
witnesses residing in this city, who hereuu-
to subscribe their names with the PARTIES |
hereto on the day and date set forth in the
hereof.
l.. ID. McLAIN,
J. ID. WIMBERLY,
BY J.. ID. McLIain,
J. NJ. RABUN,
W. Ii. WILLIAMSON,
by J. NJ. Rabun,
w. Z. RENWfCK, Agent
NJ. l.. MEREDITH.
l.. BRtNNER.
Witnesses,
II