The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1888-12-15
LEGAL ADVERTISEMENTS.

LEGAL ADVERTISEMENTS
for the purpose of constructing aud main
tanning said railroad and branches, or es
tablisHin0 continuous OF connecting line
as heretofore provided; and AS evidence @
the Indebtedness OF said company Tor salt
loans, or tho purchase or lease OF sucl
property, to issue its corporate bonds al
promissAry notes, bearing interest ut sucl
rate per annum AS the directors may elect
and made payable in gold coin, or In the
lawful money Of the United States, Mt suct
times and places as may be deemed inost
to the advantage of the corporation; and FOL
securing the payment of said bonds or
notes, to mortgage and pledge It's railroads,
its capital stock, its corporate franchises;
personal property. .,r..
ARTICLE ".
All citations shall be served upon the
President. or in his absence upon tho Sec
rotary, Treasurer. or General Attorney, or
such other officer as the President may
ARTICLE Y. cd zen, s' ~.
Section l. The amount of the, capital
stock OF said corporation shall be Five
Hundred Thousand Dollars, consisting of
five thousand shares Of the par value ofone
Sec, 2. Ton Dor cent. of all stock sub.
scribed, shall 30 due and payable at the
tune Of subscription. otherwise the time
stock aa sssii Sc % Sy the Board e Of
DirectoEs: except that no stock or bonds
shall be issued bv the company, unless 1t
be for services rendered e.. Or tor money or
doue. atsis ~ :tStts - - mr. 3D.
Sec. 3. IL. case of = failure on the part of
any subscriber to pay the whole or any
In the manner fixed by the directors, the
aharos Of stock 30 subscribed for, under
such Subscription, and all payments there
fore made hereunder, shall be forfeited to
the part OF the company; hut the liability
Of tho subscriber for the unpaid balance OF
his subscription to the stock OF the cam
be rssponsible for the whole, unless after
the payment of fifty. per cent. of the stock
subscribed by him, the company shall grant
= release for the unpaid bslance No stock
for the contracts and faults of the company
In any further sum than the unpaid bal
ance or balances due to the company on
shares owned by him or hor. "a li.I ''"a
tIstfu ARTICLE vi. N5.s.tHv
The active construction OF the railroad
herein provided for, shall begin. when as
much rs Sevcnty-five Thousand Dollars
have been aubscrlb bed to the capital stock
OF tho company. O., "tfi t.''.' fEN
.s,.,,.. o. ARTICLE VII. -ie ,ut F
Section l. The corporate powers of the
company shall be vested in Board of Di.
rectors composed of eleven stock holders, to
be elected in accordance with the bylaws
Of the company. and In such other officers
sna ~ as MAY 70
be Director who is not the actual owner
OF at least five shares OF the capital stock of
said company. Directors shall be elected
meeting il not held ut tho time appointed,
tho directors in office shall continue therein
until others are elected to fill their places.
Upon the death. resignation, or other dis
aaTNk -
manning directors shall have power to Ill
the vacancies caused thereby. The direc-
tors shall elect one of their number 10 be
So ba VUe snd NAV elect from
themselves. or appoint from others outside
of the directors one person to be Secretary,
and another person to DO Treasurer of the
company. Said directors shall have power
to make and prescribe such BY Laws, rules
and regulations for the government Of the
company as they may deem advisable, and
shall have the power to alter, anlond and
shall SEQ fit. until their successors are
elected at the first annual meeting herein
after provided for. Ihe Board of Directors
sons, to-wit: i. +. Stubs. Fred. Endom,
A. B. Sholars. U. MiIIsaps, J. +. Parker, Il.
Fudickar, X. J. Nelson,T. N. Conner, $.
Meyer, l.. Enaut and I. Baer, who shall Mt
once organize by electing the officers here
Sec Q. An election for directors shall he
by ballot, and every stakeholder shall DO
entitled TO one vote, In person or by proxy,
for each share of stock owned by him tor
at least thirty days previous to said cleo
ton. '.''
Sec. 3. Five directors shall constitute q
quorum for the transaction of business.
Sec 4. The annual meeting for the cleo
ton of directors and the transaction of such
business may he brought before the
meeting, shall be held on tho second Tues
day in the month of May of each year.
ARTICLE VIII.
This corporation may be dissolved at a
general meeting of tho stock holders, con-
three fourths of the stock OF tho company,
and upon the vote of two-thirds of the stock
represented at such meeting; and in case of
such dissolution, the liquidation shall DO
conducted by three commissioners elected
by ballot at such meeting; at the Terminus
conducted by similar board OF three COM
missioners, to be in the same way elected
at general meeting of the stockholders
convened for that purpose.
In testimony whereof, the aforesaid par
ties have hereunto subscribed their names
in the presence OF II. II. Russell and G. II.
TrousdRle. witnesses of lawful age and
domicil, and me, said deputy clerk and ee-
oDicio Recorder and Notary Public, who
hereunto sign my name and afiix my seal
of Office on the day and date first above
written.
Interlineations, insertions and erasures
made before signing.
FRANK r. srUBBs, 10
A. Is. SHOLARS, 10 g
l.. ENAUT, "
1. BAES. 10 -
=. MEYER 10 %
+. ENDOM, ''
A M.