The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1902-02-13
Notice of Incorporation.

Notice of Incorporation.
Notice is hereby given of the In
corporation of the OSKALOOSA &
TAMA RAILROAD COMPANY under
the laws of the State of Iowa.
L.
The name of the Corporation is
OSKALOOsA & TAMA RAILROAD
COMPANY and its principal place of
business is at Oskaloosa, Iowa.
IL.
The general nature of the business
to be transacted by this Corporation
shall be to locate, construct, equip,
maintain, operate, own or lease
line offrailroad in the State of Iowa
from BUXTON through OSKALOOSA
to TAMA,
III.
This! Corporation shall have all the
powers, rights and privileges granted
or permitted Railroad Corporations
by the laws of Iowa, and any amend
ments thereof hereafter enacted.
w.
The amount of capital stock auth
orized is One Hundred Thousand Dol
lars (s1OO, OUO) which will be divided
into shares of One Hundred Dollars
(S1O0 O0) each, and shall be paid up
on thirty (3O) days notice, in such
instalments and at such times as the
Board of Directors may prescribe;
and each share shall entitle the
owner to one vote in all Stockholders
meetings.
The private property of the Share
holders shall be exempt from corpor-
ate debts.
The time of the commencement of
this Corporation shall be the Twen-
tieth (2Oth) day of November, A. D.
1901, and it shall continue for twenty
years unless sooner dissolved accord
ing to law.
The Corporation shall commence
business as soon as Five Hundred
Dollars (s500.00) has in good faith
been subscribed to the capital Stock.
| VIII.
The affairs of this Corporation
shall be conducted by five (5) Direct
ors, who shall be chosen by the
Stockholders at their annual meeting,
the first of which shall be held on the
first Tuesday in May 1908, and annu-
ally thereafter, at Oskaloosa, Iowa,
and shall hold their Office for one (),
year and until their successors have
been elected and qualified.
Until the holding of the first Stock
holders meeting, and the election
and qualification of their successors,
the following persons shall act as
Directors, to-wit: E. G. Penrose, s.
w. Clark, John Hall Jr., w. j. John
son and U. @. Blake.
In case of any vacancy on the
Board of Directors, such vacancy
shall be filed by the remaining
Directors until the next annual meet
ing.
The officers of this Corporation
shall be President, Vice President,
Secretary and Treasurer, who shall
be elected by the Directors at their
annual meeting to be held immedi-
ately following the annual Stockhold-
ers' meeting each year at Oskaloosa,
Iowa, and said officers shall hold
their respective offices for one ~.
year and until their successors have
been elected and qualified.
Until the holding of the Directors
meeting on the first Tuesday in May,
1908, and the election and qualifca-
ton of their successors, the follow
ing persons shall act as the officers
of this Corporation; s. w. CLARK,
President; E. q. PENROSE, Vice
President; U. O. BLAKE, Secretary,
and JOHN HALL, Jr., Treasurer.
Said officers shall perform the usual
duties pertaining to their respective
offices.
| x.
The highest amount of indebted
ness to which this Corporation is at
any time to subject itself Excepting
Indebtedness evidenced by bonds or
securities issued in aid of the loea-
ton, construction and equipment Of
said railroad to an amount not ex-
ceeding $4,000 per mile of single
track shall not exceed two.thirds
I4a) of the capita stock subscrib-
ed and paid for.
II Witness our hands this thirteenth
day of January, A. d. 1902.
OSKALOOSA & TAMA RAILROAD
COMPANY.
BY s. W. Clark, President.
n Attest: U. @. Blake, Secretary.