The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1891-05-28
Charter.

and for said Parrish and State, duly commis-
stoned and qualified, and in the presence ofthe
witnesses hereinafter named, personally came
and appeared Francis M. Hanks, Jasper B.
Wilmington, Thomas W. W. Stins0n, VIM q:
| Simpson, James T Many, VIM. E. Hall, ThOs,
NJ Vaughan and Alex r. Thompson, who de-
olared. that availingtlfemselves 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,
aRditO 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 operatinga Railroad and Magnetic TeIe-
graph, on the line thereof from Red River, in
BOssier Parish, La, to Arkansas line in O,
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
tion may sue and be sued; have acOmmOn 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 gem
eral law Of the State, authorized tOposSess.-
The diomicile 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 Binety-nine years from the date
of she execution of these presents, unless
sooner dissolved in the manner hereinafter
provided for.
ARTTCLET
The capital stock of this corporation Is here
by fixed at not less than $4,000 90, and shall
not exceed the sum 5000 90.
ARTICLE 2.
The amount of share of said capital stock.
Of said ComDaDv shall ha tina auu Of iffv 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 hereafterBleeted;
provided, however, that such payments Oh
said shares of said stock shall not exceed ten
per cent. thereof at any one time, or be made
oftener than once every sixty days. Rhe style
and name of this corporation shall be the RED
RIVER AND OUACHITA TIMBER BELT
RAILROAD COMPANY.
ARTICLE j.
A Board of Directors to be composed of five
stock holders, shall be elected at the first
meeting after adoption of this charter; O ma
j0rity of the votes of said stockholders being
necessary to q choice, and the votes shall
count BY shares and not by persons, each be-
ARTICLE r.
Within ten days after Board of Directors,
shall have been elected, they shall elect one
of their number President, and may elect u
Vice President fyom among themselves to act
as Presidents IN the absence of the President
The Beard of Directors shall elect Treasures,
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
given by them, ana enact bylaws and regula-
tiODs to gOVen them in their various duties.
! ARTICLE 5.
Tie President of the Company is the officer
designated upon whom legal process msy 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
ARTIGLE g..
The President shall have the power to call
special meetings of the stock holders whenever
III his Judgment the interest of the COMPANY
may require such meeting OF meetings.
ARTICLE z.
No stock holders shall be responsible Or,held
liable tor the contracts of the COmpany iHaHy
further sum than tie unpaid balances due the
Company on shares owned by hiInsor shall any
intOrmalities in the organization have the ef-
feet of annuing this charter, or Of'a stock. HOl-
der to any liability beyond the amount, OF his
stock subscription unpaid.
ARTICLE 8.
The srOck books shall be kepY ut the office of
the Company, where certificates saall be issu-
ed TO the subscribers. but no TRANSFERRED 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.
ARTICLES
In case of failure on the part Of any subscri-
Der TO pay the installments on his stock as 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.
ARTCLE1O.
All rules relative to the declaration Of aivi-
bends, or divisions of profits as well as the by-
laws OF the Company, shall be made by the
Board of Directors, but said rules and bylaws
snail be subject TO repeal, change or mOdifica-
ton By the holders Of majority of the stock
OF the Company at their meeting.
ARTICLE IL.
thOrized:
First. To construct, establish or ps,rchaaa
and thereafter own, lease, maintaia and use
suitable whsrves piers, depOts, stations and
other works and appnrtenances connected
and to run and manage the same as the d.
rectOrs of said Company may deem to be most
expedient, and to the welfare Of said corpora
ton.
Second To take, transport. carry and coD.
vey persons and property upon its said rail-
way by steam or other power, and to receive
for safe keeping and TO store merchandise and
property IN its yards or warehouses, and to re-
CoANc tUf sucn 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 a.
sociate with any Company or Companies who
have been Incorporated and have been granted
the right of way from the United States OF anv
state, which roads connect or shall connect by
ferry or otherwise, with the said BED River
and Oaaehita Timber Belt Railway Company.
Fourth. To obtain and receive by purchase,
grant, gift and beguest both real and personal
property, and for the purchase of lands, to
issue stock certificates in payment thereof at
such valuation as may be agreed on bv tbe.
Directors Of said Company and the owners Of
Fifth. To obtain, by grant or otEsywise
from any parish, city or village within this
state any rights, privileges or franchises That
any OF said parishes, cities or villages NAV
choose to grant, in reference TO eemstruction
or maintenance, management and use of Che
Railroad, rs depOts, ears, locomotives, and its
business within the limits Of such or any 81
said parishes, cities or villages
sixth. To exproprOpriate according to ex-
isting laws. y -
Seventh. To purchase or lease from any
raIfroad company or corporation, at anv an |
rad arfo