The Natchitoches enterprise., 1913-05-22
CHARTER.

State Of Louisiana Parish Of Natchitoches
Be i known that on this the l7th day Of
ApnI 1913, before me the undersigned authority.
came and appeared the parties named in Article
TX hereof acting in the capacities set forth IN
said article and said appearers declared that they
do hereby organize corporation with the fol-
lowing Articles as the charter thereof
ARTICLE |.
The name Of the corporation shall be OR
ANGE-NORTHEASTERN RAILWAY
COMPANY OF LOUlSlANAT
Its domiciIe shall be the City Of Natchttoches
Parish Of Natchtoches. State Of Louisiana.
The President and In his absence the Secre-
tary Of the Corporation is hereby designated as
the officer on whom legal process shall be served.
ARTICLE II.
Il shall exist for period of SO years. 1t shall
have and enjoy the following rights and powers
and also all other rights, powers and privileges
given by present or future laws to Railway Cor
porations, VIZ:
To have and enjoy succession by its corporate
name for said period Of 90 years, to contract. sue
and be sued in its corporate name; to make and
use a corporate seal and the same to alter and
break at will; to hold, receive, appropriate, Pur-
chase and convey property, real and personal or
mixed; to name and appoint such managers, d.
rectors and officers its interests or convenience
NAV require; to make and establish such bylaws
/ for the proper management and regulation OF the
affairs Of the corporation as 1t may deem neces-
sary and proper; to leaae to or from any other
railway corporation or corporations; to borrow
money for construction. repair or acquisition OF
property or franchise and for this purpose to issue
bonds or other obligations secured by mortgage
or pledge Of the corporate property. franchises, N
comes, revenues and receipts, payable In such
terms and at such times and places as the Board
of Directors may determine; with power to SELL
pledge or otherwise dispose Of said bond on such
erms as said Beard Of Directors may direct.
ARTICLE Ill.
The pv pose for which this corporation IS es.
tablished and the nature Of the business to be
carried on by it are as follows:-
To construct, equip and maintain and operate
a railroad between the City Of Natchitoches
Louisiana and point on the Eas, bank Of thu
Sabine river, opposite the City of O;ange Texas
and to acquire by construction, purchase lease
consolidation or in any other lawful manner ex
tensions
points to such other points, whether within o
out Of this State as the Board OF Directors ma
hereafter determine; and also such bIanch line
rom said railroad and its extensions as said Boar
of Directors may deem proper; and the who'll
or any part thereof to operate itself or lease o
release in whole or in part for operation to an
other Company or companies. or sell to or con
soIidate with any other company or companies.
ARTICLE ".
i The capital stock Of this corporation is hcreb
fixed a, Five Hundred Thousand Dollars divide
into Five Thousand $4,000 shares, Of One Hun
dred Dollars each. ;,
No stock shall be issued until same is full
paid for either in money or property actually re
ceived or for services actually rendered
Property shall be received for stock only at il
fair cash value to be fixed by the Board Of Di
rectors. Services rendered and to be paid for
] stock shall only be done after tar valuation
, the said services by the Board OF Directors.
Money subscriptions should be paid as fo
lows:
In cash at the time Of subscribing.
5 The corporation shall begin business whe
Fifty Thousand Dollars Of the stock is subscribed
ARTICLE v.
All the powers Of fhis corporation, except sue
as by rhe law or by this charter are specially re
: ouired to be exercised by the stockholders them
selves, are hereby vested in and shall be exercise
BY Board Of Directors composed OF not lie
8 than SIX nor more than Eleven stockholders VIII
= shall be elected by ballot by the stockholder:
!. a meeting to be held on the lss Monday in Ma
4 Of each year after 1913.
When the Board Of Directors consists OF S
!, or more, -Four shall constitute quorom.
e The said Board shall annually elect. viva yo'
from amongst its own members, a President. VIC
president, Secretary. and Treasurer; and ma
elect or appoint such other officers. agents alto
e news, or employees as they may deem Props
r and discharge same at Will.
i The following stockholders shall compose Il
FIRST Board and shall hold office ill their .succe
sors are duly elected VIZ: