The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-05-11
Local AovERrlsEMEMrs.

sAsA{ 20 uOceaSafy. toc~fry OUT tho purposes
sec. Ito CROSS. intersect, join and
unite its railroads and branches with any
other railroad heretofore or hereafter con-
other State or at any point upon its route
and upon the ground Of such other railroad
with tho necessary 'turnouts :switches and
other conveniences in furtherance Of the
Sec. l2.--To purchase nom sany railroad
company or corporation at any aut horned
sale any railroad it, charter franchises and
.aPPurtenAnces and to leaac any railroad It's
tenances and 70 maintain tho same as part,
of the property OF this company.
Sec, l3;-To borrow money or to pnr-
for tue purpose Of constfaetins and G main.
tanning saia railroad and branches or es-
tablishing continuous or ,connecting lines
- heretoIore provided; and g evidence Of
loans or the purchase or lease OF such pro-
perty, to issue its corporate hoilds or pro-
tnissory notes bearing interest 1t sncA rate
psSaeis ' N sood COIN 81 sofs n.
money OF the United States At such time
and places IN may be deemed most to the
advantage OF the corporation; aud for 40
70, mortgage and pledge ita railroad its
capital stock its corporate franchises, its
privileges md any anG all of It's real and
personal properly. ~ I'll ~ F'''H
ARTICLE ",
All citations shall be served upon the
President or In his absence upon such ct hcr
officer as the President may name aud
designate. , ,-4iEg' t,stteI@ p ~
ARTICLE v.
Section 1.-The amount OF the capital
stock OF Said corporation shall be five hun
dred thousand dollars, consisting of five
Thousand shares OF the par value Of one
hundred dollars each.
Sec. 2,Fiye, per cont Of all stock sub
scrtbed shall ba due aud payable at the
time 81 subscription, otherwise time and
manner of paying subscription for stock
shall be determined by tho Board of Direc-
issued by the company unlesss it be for
services rendered or for money or property
actually received or for labor done.
Sec. Sin case of failure on tho part of
portion Of his su Inscription at the tinsc ar ii,
the manner fixed by the Directors the
shares OF stock so subscribed for un.2er
such .rn.esipton snS all payments here;
to the company without any further action
ON the part Of the company, but the liabil-
ity OF tho 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 the
payment OF hfty per cent OF the stock sub
scrlbed by him tho company shall grant a
holder shall. be held Liable or Responsible
for the contracts and faults OF the com.
pany IN any further hum than the unpaid
balance due tho company on shNres stub.
scribed for or owned by him. W -u
.l,H most ARTICLE vi. 49,
The active construction OF tho railroad
herein prescribed for shall begin rs soon as
fny thousand dollars shall have been sub
scribed TO tho capital stock OF the company
~ ARTICLE VII. '.
I I'm ..r a.,
company Shall be vested in Board OF Di-
rectors composed OF nine stock holders to
be elected in accordance with the bylaws
OF the company, majority Of whom shall
constitute q quorum, and III such other
officers and agents as may from time to
time be appointed by such board. Direct
ors shall DO elected annually, but in case
time appointed, the directors In office shall
continue until others are elected TO I'LL
their. places. Upon the death. ,resignat ion
or other disability tho remaii,ing Directors
shall have power TO ill the vacancies
caused thereby. The Directors shall elect
one OF their number 10 be President OF said
corporation and another to be Vice-Presi-
appoint from others outside Of the Direct
ors ono person TO DO Secretary and another
person TO DO treasurer OF tho 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 regulation
Tor thegoverninent or tho company as tbey
may deem advisable and shall have power
to alter, amend and revoke tho same from
tihno to time as they shall soc fit, until
their successor are elected at the first
annual meeting hereinafter provided for,
The Board OF Directors shall consist OF the
following named persons, tO-wit, u. Mill.
saps, Ben Reynolds, d. A. Breard, ST., j
p. Parker, IL. +. Stubs, Fred Endom
Edward Jonas, Jacob Marx and w. w
Heard, who shall at once organize by elect
ing tho officers herein provided for.
Sec. Am election for Directors shall bd
by ballot and every stakeholder shall bt
entitled to one vote in person or by writer
proxy for each share OF stack owned by hin
| for at least thirty days previous to sale
| election, Tho annual meeting for tho cleo
| ton of Directors shall be hold ut tho domi
ellie of the company on the second Tucsda,
! in the month of April In oach year.
ARTICLE VII.
This corporation may be dissolved n
| n general Meeting OF tho stockholder,
! convened for that purpose with tho conseD
and upon the votes OF two-thirds or The
stock represented ut such meeting, and II
| case of dissolution tho liquidation shall b'
! conducted by three commissioners elentet
by ballot at such meeting.
In testimony whereof the aforesaid par
| ties have hereunto subscribed their name.
| in presence of II. b. Vinson and 4. J
domicile, and we said deputy clerk and OK
officio Notary, who hereuuto sign MY nam,
and affix my seal or office on the day nxet
above written. ..f
r. q. VINsoN,
IT. J. BROADWAY.
j UR1AH MILISAPs. ! share
/ A. IL. SHOI.ARS =.