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

do form themselves into and constitute u
under the following stipula-
lions and agreements which they adopt AS
their Charter, to-wit:
ARTICLE
Said corporation shall be known and de-
signated py the title OF ''Monroe Trans
portation Company" its domicile shall be
III the city OF Monroe, La, and it shall
exist and enjoy succession for period Of
ninety-nine years from the date hereof UNI
The President of the corporation. or in
his absence the Vice-President, or in the
absence OF both, the Secretary, shall be the
officer upon whom all citations and other
legal process shall be served.
ARTICLE II.
ton shalt be to build, purchase, charter.
and otherwise acquire, one or more boats
to run from Monroe to points on Missis-
sippi, Rcd, Ouachita rivers and their tribu
tares, and theI CATER to use, operate, own,
enjoy, sell, mortgage, cucumber and dis
pose OF steamboats, and other water crafts,
to construct wharfs, landings, warehouses,
warfboats and elevators. for it's own use.
or for elevating, storing handling the
freight of other Steamboats, or transporta-
ton companies or for any person. to trans
or water craft in the Mississippi, Red and
Ouachita Rivers and their tributaries, and
to receive therefor such compensation as
mated by the proper officers Of said Com
pany; to receive and store merchandise
and property in its yards, warehouses;, or
therefor as may from time to time be es-
tablished by the officers of said company,
to sue and be sued, and further to do ali
ment Of the cf,icers and directors 81" OF saia
company for the 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
dollars each, payable OH demand in cash at
the time of subscription. The said capital
stock may be increased to a sum not OK
ceeding twenty-five Thousand dollars on
compliance with existing laws.
ARTICLE Nv.
All the corporate powers of this CON-
pany shall he vested in and exercised by
board of directors to be composed of eight
stock holders
L. D. McLain, J. NJ. Rabun, L. Drummer, J.
p: Wimberlyi v: n Wii wi, iM ). NJ L.
agent, with the said l.. D. McIain US Presi-
dent and Treasurer, j. NJ. Rabun Vice
President and NJ. L. Meredith Secretary,
and officers who shall hold their office u,-
til the first Monday of July, 1889, and until
their successors shall have been duly elect
cd and qualified, on the first Monday of
July 1883, and on the same date annually
thereafter an election for directors shall 10
held ut the Office of the 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 tho remaining directors.
Any failure to elect directors at a general
meeting OF the stockholders shall not dis
! solve the company but the directors then
function until a new board is elected, four
| members of said board shall constitute Il
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 tho transaction and management
| of the business and affairs of said corpora
make and use corporate seal with such
| inscription and device as they may select
] and shall elect a President, Vice President,
Secretary and Treasurer. and all other Off
GERS necessary i'll the transaction of the
business of the company.
ARTICLE
| This charter may be ali cred or amended
or this corporation dissolved by a vote OF
three fourths of the stock present or repre-
sented at meeting of the stockholders
convened for that purpose after fifteen days
each stock holder 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 NAV be
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 took holders NAV
DO called by the president or in case of his
absence by the vice president, at any time.
upon similar notice.
In the event 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 q general meeting of the stock
| holders convened for that purpose, \ 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 the corporation,
| sell or otherwise dispose OF it's assets and
| after paying it's liabilities distribute the ex-
] cess prorata among the Stockhol ders.
Should either of said commissioners die or
| resign, the business and affairs Of said cor
poration shall be liquidated and closed bv
| the remaining commissioners.
ARTICLE
No stakeholder of this company shall
| ever be held liable or 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 bv
him, nor shall any mere informality in
organization have the effect of rendering
this charter null or of Nposing stockhoI-
der to any liability beyond the amount of
| his stock.
Thus done and passed in my notarial
| office Mt Monroe aforesaid in presence of
| X. IL. Endom and Il. G.. Hudson, n,pet ent
| witnesses residing in this city. who hereuu-
to subscribe their names with the parties
hereto on the day and date set forth in the
| capt. ion hereof.
l.. u. MCLAIS,
j. -. wIMBERLY.
BY l.. II. Mci.ain,
| J. NJ. RABUN,
| w. II. WILLIAMSDN,
by J. NJ. RahpH,