The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-04-20
LEGAL ADVERTISEMENTS.

LEGAL ADVERTISEMENTS.
pike. which it's said railroads may so pass
along intersect touch or cross.
Sec. 9:.go obtain ain by grant or otherwise,
rights immunities privileges, franchises,
and subsiders that any OF said parishes
counties cities or villages. may choose TO
grant i'll reference to and aid OF the con-
struc:ion nia!nttinance management and
use Of the railroads Of said company its
depots, cars. locomotives, and its business
parishes counties cities and villages.
Sec. 1o.-To rexpropriate according TO
existing or future laws all property that
may be necessary to carry out the purposes
OF the company.
Sec. Ito cross. intersect. join and
unite its railroads and branches with any
other railroad heretofore or hereafter con-
structed in the State of Louisiana or any
other State or at any point upon its route
and upon the ground ofsuch other railroad
with !he necessary turnout. switches and
-...er conveniences in furtherance OF the
objects of its connections.
Sec. l2.-ro purchase from jany railroad
company or corporation at any authorized
sale any railroad its charter franchises and
appurtenances and to lease any railroad It's
franchises property privileges and appur-
| of the property of this company.
Sec. l3:-To borrow money or to pur-
chase or lease property on its own credits
!taining said railroad and branches or es-
tablishing continuous or connecting lines
as heretofore provided; and AS evidence Of
the Indebtedness OF said company for said
loans or the purchase or lease OF such pro-
perry, to issue its corporate bonds or pro-
missory notes bearing interest at such rate
made payable in good coin or in lawful
money Of the United States ut such time
and places as may DO deemed most to the
advantage of the corporations; and for Sc
curing the payment Of said bonds or notes,
to mortgage and pledge it's railroad its
capital stock it's corporate franchises. its
privileges and any ant. all of its real and
personal property.
ARTICLElv.
All citations shall he served upon the
President or in his absence upon such OF her
officer as the President may name aud
designate.
ARTICLE v.
Section 1.-The amount of the capital
stock Of said corporation shall be tive Lun-
thousand shares of tho par value OF one
hundred dollars each.
Sec. 2.-Five per cent Of all stock sub
scribed shall bs due and payable Ut tho
time of subscription. otherwise time and
manner OF paying subscription for stock
shall he determined by the Board Of Direc-
tors except that no stock or bonds shall tie
issued by the company unlesss it bS for
services rendered or for money or property
actually received or for labor done.
Sec: II: In case OF failure on the part Of
portion of his subscription ut the time ear ia
the manner fixed by the Directors the
shares OF stock so subscribed for under
such subscription and all payments here
tofore made thsrenndtr, shall be forfeited
to the company without any further action
on the part of the company, but the llabti-
+ ity OF he subscriber for unpaid balance OF
his subscription to the stock Of the compa-
ny shall not cease or abate, but he shall be
Responsible for the whole unless after tue
payment OF fifty per cent OF the stock sui
scribed by him the company shall grant
release tor the unpaid balance. No stock
holder snail be held liable or Responsible
for the contracts and faults OF the cotu-
panN i'll any further sum than the unpaid
balance due the company on shares sub
scribcd for or owned by him.
ARTICLE vi.
The active construction OF the railroad
! herein prescribed for shall begin It's soon a.
! fifty thousand dollars shall have beeu sub-
scrlbed to tho capital sto * OF / e cOm panv
ARTICLE VII.
Section 1.-The corporate powers Of tue
company shall be vested in Board of Iii
rectors composed of nine stock holders to
, OF the company, majority OF whom shall
constitute a quorum, and III such other
officers and agents Az may from time to
time be appointed by such board. Dirsc1-
ors shall be elected annually, but in case
such annual meeting is not held at The
, time appointed, tho directors in office shall
) their places. Upon tho death. resignation
, or other disability tho remaining Directors
shall haVo power to fill lhs vacancies
/ caused thereby. The Directors shall elect
t one OF their number to be Presidan, of snia
r corporation and another to to Vice. Presi-
f dent, and may elect from themselves or
) appoint from others outside of the, Direct
ois one person TO be Secretary aud another
f person 10 he treasurer of the company, Or
may combine said officers in one nn,i the
| Same person if they think proper, said
Directors shall have power to make AMI
iprescribe Bylaws rules ami teyulatio
) for thegovern'nent of the company ~ they
may deem advisable and shall have puwer
to alter, ame.li and revoke the same from,
: time 10 time rs they shal! see tit until
their successor are elected a. the tir,t
annual meeting hereinafter provided for
The Board of Directors shall consist OF the
| following named persons, tn-wit, 4. Mill.
saps, Ben Reynolds, ID. 4. Breard Sr 4
T.. Parker, T.. 2. Stubs, Fred Endn,n
Edward Jonas, Jacob Marx and ". W
Heard, who shall at orcs organize by slec,
ing the officers herein provided for
Sec. An election for Directors shall M
: by ballot ana every stock holder shall Nv.
entitled to one vote in person or by written
proxy for each share of st; elk owned by him
for ut least thirty days previous to said
election, Tho annual meeting tor the etec-
ton of Directors shall be held at the domi
ellie of the company on the SECOND Iuesd Az
i'll the month OF April in each year.
|; ARTICLE VII.
This corporation may ba dissolved -,
i general meeting, of the stock holder.
. convened for that purpose with lie ronse,,
of three iourthS OF the stock OF he company
, and upon the votes OF two-ihir,is OF ti,a
! ~ .tft s.tf mi H.1 al a.,