The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-09-20

III ,es, or parts Of the same. and to hav
right of way across, along or upol
any water or water courses. lakes. bays
inlets. streets. yards, turnpikes or canals
and public lands of the State of Louis
lana or of the United States through Of
over which its said roads may pass
touch or cross.
| Section s. To obtain by grant o.
otherwise, from any parish or state Oh
town or country, or village, or parish
ward within this state, all rights. priv.
ileges and franchises, that any or said
parishes, cities, towns or villages OF
parish wards may choose to grant. in
construction. maintenance, operation,
its depot, cars. locomotives, and its
business within the limits of any of the
said parish, states or villages.
Section 8. To appropriate property for
its purposes, according to existing or
future laws,
Section 10. To cross, intersect. join
and unite its railroads and branches
with ally other railroads heretofore or
hereafter constructed In the State of
Louisiana, or any other state, or any
point upon its road, and upon the
grounds of such other railroads else
where that the necessary sidings, spurs,
switches and other conveniences in fur
therance of the business of this corpor-
porption may require.
Section IL. To purchase or lease from
any other corporation or railroad, the
railroad or railroads, franchises. prop
erty, and appurtenances thereof, as to
maintain, use and operate the same as a
part of the property of this corporation.
Section IL. To borrow money, is
sue bonds, to purchase or lease prop
!! erty on its own credit, for the purpose
of constructing, maintaining and oper-
ating its railroads and branches, or es-
tablishing continuous or connecting
lines, as hereinbefore provided, and as
evidence of the indebtedness of said cor
pOration for such lines, or for the pur-
chase, lease or construction of such
property to issue its corporate bonds or
promissory notes, bearing interest at
such rates per annum as the said cor
poration may elect, payable at such
times and places as may be agreed upon,
and for securing the payment of such
bonds or notes. and the interest thereon,
to mortgage and pledge its railroads, its
capital stock. its corporate franchises
and any or all of its real or personal
property, or both.
ARTICLE w.
All citations and other legal processes
| issuing from the courts against this cor.
portion shall he served upon its President
or in his absence from the Parish of st.
Mary, upon the Vice. President, or in the
absence of roth the President and the
Vice-President from the Parish of st.
Mary, then upon the Secretary or Treas.
urer of this corporation, at the office and
domicile of the Company.
| ARTICLEV v.
| The amount of the capital stock oi
this corporation shall be three hundred
thousand dollars, divided into three
thousand shares having par value of
one hundred dollars per share. This
charter shall become operative, and the
said corporation shall commence BUSH
ness as soon as one hundred thousand
dollars of this capital stock shall have
been subscribed for.
| Section 2. The time and manner of
paying subscription of stock of said
corporation shall be determined by the
Board of Directors except that no stock
shall be issued by the Board of Direc-
tors, or by the corporation unless it be
for money or property actually received.
or for labor done, or services performed.
| Section 3. In case of failure on the
part Of any subscriber to pay the whole
or any part of his subscription to the
capital stock of this company, at the
time or in the manner fixed by the
Board of Directors, the shares of stock
subscribed for by him. and the pay
ments heretofore made by him thereon,
may at their option be forfeited 10 the
corporation by the Board of Directors,
after services of written notices on the
delinquent subscriber, and failure on
his part to pay the balance within a
time fixed By the Board.
Section 4. No stakeholder of this
corporation shall ever be held liable or
personally responsible for contracts or
faults of this corporation in any further
sum than the unpaid balance due by
him or her on the shares of stock sub.
scribed for. Nor shall mere informality
in organization have the effect of rem
dering this charter null, or exposing
any stakeholder to any liability beyond
the amount of his stock subscription.
ARTICLE vi.
1.-THE corporate powers Of this corpora
ton shall be and are vested in Board of
Directors, composed of Five (5) stockhold
ers. The Board of Directors as now con-
stituted is composed Of the following
stockholders: T. Cheney Lawless, Will
liam E. Stewart, Pete Cherry, Mrs. Minnie
H. Connolly and T. Clarence Law less. of
whom T. cheney Lawless is President;
W. Z. Stewart is ce-President; Pete
Cherry is Secretary and Treasurer. The
above named officers and directors shall
hold office until the first Tuesday in Nov
ember, 1918. On which date, and annual
ly thereafter, meeting Of the stockhold.
ers OF this corporation shall be held and
there shall then be elected Five (5) Stock
holders OF this company, to serve as direc-
tors during the ensuing year. Notice of
this meeting shall be given In any news |
paper published in the Parish of st. Mary, |
Louisiana. for full ten (10A> days prior