The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-04-27
LEGAL ADVERTISEMENTS,

LEGAL ADVERTISEMENTS.
pike. which its said railroads may SO pas.
| along iNtersect touch or cross.
| Sec. $40 obtain by grant or otherwise
! from any Parish City village or county an,
rights immunities privileges, franchises
and snbsiders that any OF said parishes
| counties cities or villages, may choose tc
grant in reference to and aid OF the con-
struction maintainance management and
! use OF the railroads of said company its
depots. cars, locomotives, and its business
within the limits OF each and any OF sucl,
Parishes counties cities and villages.
existing or future laws All property tina,
may DO necessary to carry out the purposes
of the company.
Sec. Ito cross, intersect, join and
other railroad heretofore or hereafter con-
*tructed in the State OF Louisiana or any
other State or At any. point upon its route
and upon the ground of such other railroad
with the necessary turnonts switches and
other conveniences in furtherance of the
objects Of its connections.
Sec. Ito purchase from fanny railroad
company or corporation at any authorized
sale any railroad its chart or franchises and
appurtenances and to lease any railroad its
franchises property privileges and appur-
tenancss aud to maintain the same rs part,
of the property of this company.
Sec. l3.-TO borrow money or to pur-
chase or lease property on It's own credits
for tho purpose of constructing and MAIN
tanning said railroad and branches or es-
tabltShtnE continuous or connecting lines
a. heretofore provided; and as evidence of
the indebtedness of said company for said
loans or the purchase or lease Of such pro
missory notes bearing interest at such rate
Por annum aS the directors may elect and
made payable in good coin or In lawful
money OF the United States at such time
N 1A6NQ0 0Nn u
advantage of the corporations; and for So
curing the payment OF said bonds or notes.
to mortgage and pledge its railroad its
capita! stock its corporate franchises, its
personal property.
ARTICLE
All citations shall be served upon the
officer as the President may nama mud
designate.
ARTICLE v.
Section 1.-The amount of the capitst
stock of said corporation shall be five nun
dred thousand dollars, consisting OF five
hundred dollars each.
Sec. Five per cent of all stock sub
scrtloed shall be due and payable Mt the
time of subscription. otherwise time and
shall be determined by the Board OF Direc-
tors except that no stock or bonds shall he
issued by the company uuiesss it be for
services ss rendered rendered or for money, or property
actually received or for labor done.
Sec. SIN case of failure on tho part of
any subscriber to pay the whole or any
portion Of his subscription at the Time or In
the manner fixed by the Directors the
shares OF stock so Subscribed for under
such subscription and all payments here
tofoFo made thereundCr, shall he forfeited
to the company without any further action
on the part Of tho company, but the liabiI-
ity of tho subscriber for unpaid balance of
his subscription to the stock of the compa-
ny shali not cease or abate, but no shall be
responsible for the whole unless after the
payment OF fifty per cent Of the stock sub
scribed ny him the company shall grant a
release for the unpaid balance. No stock
holder shall DO held Liable or responsi bio
pany In any further sum than the unpaid
balance due the company on shares sub
scribed for or owned by him.
ARTICLE vi.
Tho active construction of tho railroad
herein prescribed for shall begin AS soon as
fifty thousand dollars shall have been sub
scribed I" tho capital stock OF the company.
ARTICLE VII.
Section 1.-The corporate powers of the
company shall be vested in a Board of Di-
rectOrs composed of nine stock holders to
he elected in accordance with tho by-lxws
Of the company, majority OF whom shall
c0nstitute quorum, and in such other
OthCotS HUtt dkontS us may rom t1in8 to
tiine he 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 in Office shall
continue until others are elected TO III
their places. Upon tho death. resignation
or other disability tho remaining Directors
shall have power to fill the vacancies
caused thereby. The Directors shall eject
ono oftheir number to 10 President OF said
corporation and another TO be Vice-Presi-
don't, and may elect from themselves or
appoint from others outside of the Direct.
ors ono person to DO Secretary and anoi her
may combine said officers In QUO and the
Same person If they think proper, said
Directors shall have power to make and
prescribe bylaws rules and regulation
for theg0vernment of the company as they
may deem advisable and shall have power
to alter, ameni and revoke tho same from
time to time they shall see fit, until
their successor are elected at tho first
annual meeting hereinafter provided for,
Tho Board of Directors shall consist of tho
following named persons, to-wit, u. Mill
saps, Bon Reynolds, ID. A. Breard, ST., j.
z. Parker, L. T.. Stubbs, Fred Endom,
Heard, who shall at once organize by elect
ing tho officers herein provided Cor.
Soc. An election for Directors shall he
by ballot and every stakeholder shall be
entitled to one vote in person or by written
proxy for EACH share Of ste ok owned by him
for at least thirty days previous To said
election, Tho annual meeting for tho cleo
ton of Directors shall DO held at The domi-
cile OF the company on tho second Tuesday
in The month OF April IN oach year.
ARTICLE VIII