The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1913-05-01
CHARTER.

State Of Louisiana Parish OF Natchltoches
Be II known that on this the 18th day of
April 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 toll
lowing Articles as the charter thereof
ARTICLE |.
The name Of the corporation shall be OR
ANGE-NORTHEASTERN RAILWAY
COMPANY OEICIuSlANAlsl= sEs------=
!, Tor Jinn 5ig;... 'bf the City of Natcnuoches
Parish Of Nstchitoches. State Of Louisiana.
The President, and In his absence the Secre-
tary of the Cooperation is hereby designated as
the officer on whom legal process shall be served.
ARTICLE II.
1t 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 80 years, to contract sue
and be sued in its corporate name; to make and
use corporate seal and the same to alter and
chase and convey property, real and personal OF
mixed to name and appoint such managers, dl-
rectors and officers as its interests or convenience
may require; to make and establish such bylaws
tor the proper management and regulation OF the
affairs OF the corporation as it may deem neces-
sary and proper; to leaee to or from any other
railway corporation or corporations; to borrow
money for construction, repair or acquisition oil
property or franchise and for this purpose to issue
bonds or other obligations secured by mortgage
pledge Of the corporate property. franchises, in
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 pr pose for which this corporation IS es-
| tablished and the nature CT the business to be
carried ca by it are as follows:-
To construct, equip and maintain and operate
a Eailroad between the City Of Natchitoches,
i Louisiana and point on the East bank Of the
Sabine river, opposite the City Of Oange Texas,
and to acquire by construction, purchase, lease,
consolidation or in any other lawful manner ex-
tensions CT said railroad both ways from said
poiat, to such other points. whether within OF
out OF this State as the Board Of Directors may
hereafter determine; and also such branch lines
from said railroad and its extensions as said Board
Of Directors may deem proper; and the whole
Or any pait thereof to operate itself or lease OF
release in whole or in part for operation to any
other Company or companies, or sell to or con-
solidatc with any other company or companies.
ARTICLE ~.
| The capital stock Of this corporation is hereby
fixed at Five Hundred Thousand Dollars divided
into Five Thousand $1,000 shares. Of One Hun
bred Dollars each.
No stock shall be issued until same is fully
paid for either in money or property actually re-
ceived or for services actually rendered.
Property shall be received for stock only at It's
fair cash value to be fixed by the Board Of Dr.
rectors. Services rendered and to be paid for in
stock shall only be done after fair valuation oil
the said services by the Board Of Directors.
| Money subscriptions should be paid as fol-
lows:
In cash at the time Of subscribing.
The corporation shall begin business when
ARTICLEV.
| All the powers Of fhis corporation. except such
as by rhe law or by this charter are specially
quired to be exercised by the stockholders them
selves. are hereby vested IN and shall be exercised
by Board Of Directors composed Of not les:
than SIX nor more than Eleven stockholders who
shall be elected by ballot by the stockholders al
meeting to be held on the lst Monday in May
Of each year after 1913.
When the Board of Directors Consists If sis
or more. Four shall constitute quorom.
The said Board shall annually elect, viva voc,
from amongst its own members, q President, Vice.
president. Secretary, and Treasurer and ma,
elect OF appoint such Other officers agents attor.
neys, or employees as they may deem proper
and discharge same at will
The following stockholders shall compose Ii.
first Board and shall hold office ill Their success
sors are duly elected VIZ;