The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-09-07


operation Of the railroad and business Of
this corporation. subject alone TO the
supervisor Of tue board OF directors
.. He shall employ or discharge all
agents, operatives aud labGrers, needed for
the construction ana operation Of the rail-
road ana business affairs OF this corpora
ton, subject only to the supervision and
approval Of the board OF directors,
4. Iio shall have the right temporarily
TO suspend any officer OF this corporation
except the president aud board Of directors
and when such officer Is so suspended hls
duties and pay shall cease unless he shall
De reinstnted By tho board Of directors
y. He shall negotiate and consummate all
trades and agreements with persons, firms
or corporations concerning the business at
fairs OF this corporation, subject 20 the
consent and approval Of the board OF al
rectots. n said board shall see proper TO
take action upon any such matters.
g. He shall have control aud manage
ment of the locomotives, rolling stock nnd
trains Of this corporation, and shall direct
the movement of all trains, regular ana
special, and OF all locomotives over the Cane
Belt railroad ana his discretion in this
matter shall be supreme, unless changed
by resolution Of the board OF directors
T. He shall have general charge aud CON
trol Of all tue property belonging to said
g. He shall have and perform such other
duties as may from time 10 time be pre-
scribed by the board of directors.
o. II IS hereby specially enacted that the
and not under the control Of. nor subject TO
the direction OF the president OF this cor
porntion, but shall be accountable for his
actions ana conduct only 90 the board OF
directors 10 session. or to the stockholders
of this corporation.
We and each Of rs William Dunovant
president and w r Bldridge Vice presl,
dent md general manager OF the Cane Belt
Railroad company do hereby agree ana
hind ourselves TO faithfully carry out and
conform to the foregoing rules regulating
our respective duties, this 10Th day OF
lsIenedD WIN. Dunoyont.
W 7 Eldndge
Fourth In view Of the fact there would
likely be no profit from the construction Of
the Cane Belt railroad other than WIS made
ON the Dunovnnt s Eldridge account, pre-
viously referred to, except such MS might
be realized from the sale or operation %
! the rond to the stockholders II was agreed
/ by and between the stockholders that In
/ lieu Of the profits which / was TO receive,
! 10000 81 the capital stock should be trans
/ ferred TO me. 10 pay the unpaid % per
! cent due thereon Messrs. Eidridgc and
I 10. deker were 20 transfer to me $500 81
said stock and Captain Dunoyant was TO
transfer TO me $4,000 thereof. have In
my possession yet the memoranda OF this
agreement made between the parties.
Messrs Eldrldge and Bocdeker did transfer
the amount they had agreed. The certin
Gates for Captain Dunovant 70 make trans.
fer of his portion were prepared by the sec
retary and forwarded to Houston for biz
execution. aud are sim IN existence. He
DELAYED signing them for several days and
then declined to do SO. and afterwarc
stated that be would pay me IN cash foI
i 80 10.
matter, and nnally sold his entire holding
received the cash therefor and never told
me about Il, aud Cid not tell the purchaser
Of my Interest IN the stock. Reference e
this matter Is made because J have IRE
quently heard criticism said TO have origi
mated with Captain Donovant concerning
my holding Of stock IN the railroad com
pany.