The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-05-18
LEGAL ADVERTISEMENTS.

objects Of its connections.
SEC. l2-To purchase from amy railroad
r., a.
appurte0ences and to lease any railroad It.
| franchises property privileges and appnr.
! tenances and to maintain the Same as part
SEC. 1910 borrow money or to pur-
chase or lease property on It's own credits
Tor the purpose of constructing and MAIN
tanning said railroad and branches or es-
~ 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 tts corporate bonds or pro-
per annum "a the directors may elect and
made payable in good coin or in lawful
money OF the United States ut such time
advantage of the corporations; and for Sc
curing the payment Of said bonds or notes,
to mortgage and pledge its railroad It's
capital stock its corporate franchises, fits
personal pFops%sRfEfi1 cLE ~.
All citations shall DO served upon the
officer as the President may name and
designate.
ARTICLE v.
Section 1.-The amount of the capital
stock OF said corporation shall DO five hum
dred Thousand dollars. consisting of five
thousand shares of the par value of one
hundred dollars each.
Sec. 2.-Five per cont of all stock sub
scribed shall DO quo aud payable at tho
time OF subscription. otherwise time and
manner of paying subscription for stock
shall be determined by the Board OF Direc-
tors except that no stock or bonds shall he
issued by the company unlesss it be for
services rendered or for money or propert v
actually received or for labor done.
Sec. BIN case of failure on the part of
any SUBSCRIBER to pay. the whole or any
portion of his subscription at the time or in
the manner hxed by the Directors the
shares OF stock SO subscribed for under
totore made Hereunder, shall be forfeit cd
to the company without any further action
on the part OF the company, but tho iiabii-
ity of the subscriber for unpaid balance OF
his subscription to the stock of the compa-
ny shall not cease or abate, but hc shall be
responsible for the whole unless amer tho
payment Of fifty per cent OF the stock sub
release Tor the unpaid balance. No stock.
holder shall be held liable or responsi bic
for the contracts and faults of tho com.
pany III any further stni than the unpaid
scribed for or owned by him.
ARTICLE vi.
The active construction OF the railroad
herein prescribed for shall begin AS soon as
hfty thousand dollars shall have been sub
scrihed TO tho capital stock of tho company.
ARTICLE VII.
Section 1.-The corporate powers OF the
company shall be vested in u Board OF Di-
rectors composed of nine stock holders to
be elected in accordance with the by-laws
OF the company, u majority OF whom shall
constitute a quorum, and in such other
officers and agents as may from time to
time be appointed by such board. Direct
ors shall be elected annually, but in case
such annual meeting is not held at the
time appointed, the directors I'm office shall
continue until others arc elected TO fiji
their PLACES. Upon the death. Resignation
shall have power to fill the vacancies
caused thereby. The Directors shall elec,
one oftheir number to be President OF said
corporation and another to DO Vice Prcsi
dent, and may elect from themselves or
appoint from others outside of the Direct
ors ono person to DO Secretary and another
person to BIO treasurer of the company, or
may combine said officers in Que and the
same person if they think proper, said
Directors shall have power to make and
prescribe Bylaws rules and regulate ion
for thsgovernunent of the company as thoy
may deem advisable and shall have power
to alter, amend and revoke the same from
time to time as they shall SEQ fit, until
their successor arc elected ut the first
annual meeting hereinafter provided for
Tho Board of Directors shall consist of the
following named persons, to-wit, u. Mill.
saps, Ben Reynolds, u. A. Brearl Sr., j.
r. Parker, Il. p. Stubbs, Fred Endon
Edward Jonas, Jacob Marx and w, w
ing the officers herein provided for
Sec. Am election Tor Directors shall bt
by ballot and every stakeholder shall bt
entitled to one vote in person or by written
proxy for each share of stock owned by hin
for at least thirty days previous to said
election, The annual meeting for tho G Ice.
ton of Directors shall be held at the do,ni.
Gle OF tho company ON tho second Tuesday
in The month OF April in each year.
ARTICLE VII.
This corporation may DO dissolved al
Il general meeting of the Stockholders
convened for that purpose with the consent
| OF three fourths of the stock Of tho com pany
| and upon the votes of two-thirds OF the
stock represented ut such meeting, and in
| case of dissolution the liquidation shall bt
conducted by three commissioners elect ed
| by ballot at such meeting.
In testimony whereof the aforesaid par.
| ties have hereunto subscribed their names
! in presence OF X. Il. yiDson and II. J
Broadway, witnesses of lawful Rge ant
domicile, and We said deputy clerk and ex
oflicio Notary, who hereunto sign my nam'
| and aft < my seal OF Office on the day ii xct
above written.
| Attest:
| X. Il. VfNSON.
T. ]. BROADWAY.
| URIAH M1LLSAPS. share
| A. Il. SHOLARS, :.
| JOHN T.. PARKER,
/ -. a. BKEARD. SIX.
HERMAN MEYER,
! FR. ENDOM,
BEN REYNOLDS. :"
/ &. q. WOODBRIDGE,
EDWARD JONAS, "
i w. w. HEARD, "