Rogue River courier. (Grants Pass, Or.) 1886-1927, 1908-08-21

tain aud operate lines Of railway, to
be operated either by stesmpower,
electricitys or any other means of OPP
GRAFTON Of railroads now or hereafter
used for such proposes, for the trans
portation of persons and property
with terminals at Grants Pass aud
Waldo, Josephine County.
2. To acquire by purchase or by
condemnation under the laws OF the
State of Oregon. all such lands. ease.
ments, building rights and privileges as
may be necessary for roadbeds, yards,
sidines, spur tracks, station groun S,
terminals and other purposes for the
complete and successful construction,
operation aud maintenance of liues of
railroad for transportation of persons
and property in said counties.
8. To buy construct and maintain
all such buildings and other structures
for the reception aud dispatch OF
persons aud pronerty, for the storage,
construction, repair aud maintenance
Of engines, cars and other vehicles to
be porpelled over such lines of rail.
road, rs may be necessary and use.
full for the operation thereof.
4. To acquire all such franchises,
easements. grants. rights. powers and
privileges under or by act of any
municipal or other public boards or
corporations as may be necessary to
carry out the other objects of this
corporation.
8. To acquire by any lawful
method under the laws of the State of
Oregon rights and privileges for uli-
lizing the water and water powers
convenient and accessible to such
lines of railroad Ms may be constr ucted
or acquired by this corporation for
the purpose Of developing such power
and thereby operating said lines Of
railroad and to build, maintain and
operate stations and plants for the
prodution of power by either steam or
water power aud particularly for the
production OF electric current whereby
to propell vehicles and operate said
lines of railroad.
Q. To buy. build, manufacture,
own aud use any rolling stock, tools,
machinery. equipment, personal
property of every character, which
may be useful or necessary in the
operation of said railroad by either
steam power, electricity or any other
power now OF hereafter used for such
purposes.
ARTILCE Ill
The amount Of the capital stock OF
said corporation shall be one million
dollars (sl 200. 900. 00) to be divided
into ten thousand shares 100000 OF
the par value of one hundred dollars
(sl0U.00) per share. OF said stock
four thousand 10000 shares shall be
designated as preferred stock and
shall be entitled to preferential
dividend accommodating from year tc
year until paid at the rate of pei
cent per year, and shall also be- tn.
titled to full payment of the face
thereof out of the assets of the cor.
portion in case Of any sale or other
liquidatiuD of its assets before pay
ment of any part of the face OF the
common stock and the remining siS
thouusnd (6000) shares shall ba desig
mated as common stock and shall be- en-.
titled to dividend If all the profits
in the operation of the raj lroad over
and above the scom mulative dividend on
the preferred stock, aud shall be en-
titled case Of any sale of or other
liqu dstion Of the assets of this corplr.
alton, to all of the assets not applied
to the payment Of the par value of the
preferred stock.
ARTICLE ".
The time Of the existence Of this
corp ration shall be fifty 600 years
from the first day of August, 1908.
ARTICLE V.
The numher OF t'ust es Of this cor
poration shall be five (5) bot by vote
OF the majority of the stock holders
at any regular or sps cisl meet lng
thereof the nuLber of trustees may
b. increas to any number not ex.
ceedinR t9).
The regular annual meeting Of the
stockhold' rs shall be held on the first
Monday Of January in each year here
after.
ARTICLE VI.
The principal place OF business OF
this corporation and its main office
shall be located in the city of Seattle,
King county, Washington, but 1t shsl
also have an Office 10 the city o.
Grants Pass, Orgon.