The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1891-05-21
Charter.

Ctate of Louisiana, Parish of BOsssier.-
y Be it known, that on this, the 18th day of
May. A. D., 1891, before me, Benjamin F. Fort,
Deputy Clerk and ex-ofieiO a Notary Public in
and for said Parish and State, duly commits
stoned and qualified, and in the presence of the
witnesses hereinafter named, personally came
and appeared Francis M. Hanks, Jasper B.
Wilmington, Thomas w. w. Stinson, VIM. B.
Simpson, James T. Many, VIM. E. Hall, Thos.
NJ Vaughan and Alex. r. Thompson, who de-
elared, that availing themselves of the powers,
rights and privileges conferred by the statutes
of the State of Louisiana, to the organization
of corporations in this State, they do by these
presents form, organize, constitute and found
a corporation for the objects and purpose as
shall hereafter be enumerated and set forth,
and to that end they do hereby covenant and
agree to form and constitute themselves, and
all such other persons as may hereafter become
associated with them into body corporate,
for the purpose of constructing, maintaining
and operating Railroad and Magnetic TeIe-
graph, on the line thereof from Red River, in
Bossier Parish, La, to Arkansas line in
nOrtheasterly direction, and such other points
as may be determined hereafter, either by con-
struction or by purchase of any other road al
ready built or partially built. Said corpora
tlOn may sue and be sued, have a (ommon seal,
enact and repeal bylaws, may hold real and
personal property, may make contracts, may
receive grant of land or personal property, and
shall possess all the powers and privileges
which corporations are or may be by any geu-
eral law of the State, authorized to possess
The domicile of said corporation is fixed at the
town of Benton, for the present, and shall
have corporate existence for and during the
full term of ninety-niDe years from the date
of the execution of these presents, unless
sooner dissolved in the manner hereinafter
provided for.
The naOital stock IF thie aarDOPatiO1 EEL opa
by fixed at not less than $50 900 90, and shall
not exceed the sum $500,e00 90.
ARTICLE 2.
The amount of share of said capital stock
of said Company shall be the sum of fifty dol
lars, and the time and manner of payment for
stock shall be such as may be determined by
the Board of Directors, to be hereafter elected;
provided, however, that such payments on
said shares of said stock shall not exceed ten
per cent. thereof at any one time, or be made
ottener than once every sixty days. The style
and name of this corporation shall be the RED
RIVER AND OUACHITA TIMBER BELT
RAILROAD COMPANY.
ARTICLE 3.
A Board of Directors to be composed of five
stock holders, shall be elected at the first
meeting after adoption of this charter; a ma.
jOrity Of the votes Of said stockholders being
necessary to a choice, and the votes shall
count by shares and not by persons, each be-
ing entitled to vote.
ARTICLE A.
Within ten days after Board of Directors
shall have been elected, they shall elect one
of their number President and NAV elect a
Vice President from among themselves to act
as President in the absence of the President.
The Board of Directors shall elect a Treasurer,
Secretary and such other officers as may be
deemed necessary. The Directors shall fix the
amount of salary and compensation of all its
officers and the amount of securities to be
NJ md aaNH wvl, 4.
lions to goyen them in their various duties.
ARTICLE 5.
The President of the Company is the officer
designated upon whom legal process may be
made, and such service may be made in per-
son or by leaving the same at the office of the
Company at its dOmicile with any of its officers
ARTICLE e,
The President shall have the power to call
special meetings of the stock holders whenever
in his Judgment the interest of the Company
may require such meeting or meetings.
ARTICLE z.
No stock holders shall be responsible or held
liable for the contracts of the Company in any
further SUN than the unpaid balances due the
Company on shares owned by him, or shall any
lnformalities in the organization have the eff
feet of annuling this charter, or of stock hol-
der to any liability beyond the amount OF. his
stock subscription unpaid.
ARTICLE g.
The srOck books shall DO kept ut the Office of
the Company, where certificates saall be issu-
ed to the subscribers, but no transfer of stock
shall be binding upon the Company until
made upon the stock books and no stock GER
tIhcate shall be issued except for full paid
stock.
ARTICLE9.
In case OF failure on the part of any subscri-
Der to pay the installments on his stock "a re-
quired, the Board of Directors shall have the
option after thirty days written notice to the
delinquent OF FORGETTING his stock, or the
amount previously paid thereon, and no stock
holder shall have the right to vote while in
default.
ARTIcLE1O.
All rules relative to the declaration of diyi-
dends, or divisions of profits as we'll as the by
laws OF the Company, shall be made by the
Board of Directors, but said rules and bylaws
shall be subject to repeal, change or modffica-
ton by the holders Of a majority of the stock
OF the Company at their meeting.
ARTICLE H.
The said Company is empowered and au-
thorized:
First To construct, establish or purchase.
and thereafter own, lease, maintain and use
suitable wharves, piers, depOts, stations and
other works and appurtenances connected
and to run and manage the same as the d.
reetors of said Company may deem to be most
expedient, and to the welfare of said corpora
ton.
Second To take transport, carry and con-
Vey persons and property upon its said rail-
way by steam or other power, and to receive
forsafe keeping and to store merchandise and
property IN its yards or warehouses, and to re.
ceive for such transportation, safe keeping or
storage such tolls and charges as from time TO
time may be established or authorized to be es-
established by directors of said railroad Com
pany.
Third. To consolidate. confederate and as
sociate with any Company or Companies Who
have been Incorporated and have been granted
the right of way from the United States or any