The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1913-05-15

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 a corporation with the fol-
lowing Articles as the charter thereof
ARTICLE |.
The name Of the corporation shall be OR
ANGE-NORTHEASTERN RAILWAY
COMPANY 2F LouIsIANAI
Its domicile shall be the City Of Naichttoches
Parish Of Naichitoches. State Of Louisiana.
The President. and In his absence the Secre-
tary Of the Corporation is hereby designated as
the officer whom legal process shall be served.
ARTICLEH.
|. shall exis, for period Of 80 years, |. 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 SO years, to contract sue
and be sued in its corporate name; to make and
use 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 as its interests or convenience
may require; to make and establish such bylaws
for the proper management and regulation of the
affairs Of the corporation as it 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, 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 OF 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 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 East bank of the
Sabine river. opposite the City Of O;ange Texas,
consolidation or in any other lawful manner ex-
points to such other points, whether within or
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 part thereof to operate itself or lease or
release in whole or in part for operation to any
other Company or companies, or sell to or con-
solidate with anS other company or companies.
ARTICLE ".
The capital stock Of this corporation is hereby
fixed at Five Hundred thousand Dollars divided
into Five Thousand 5000 shares, Of One Hun
dred Dollars each.
No stock shall be issued until same is fully
paid for either in money OF property actually re.
ceiyed OF for services actually rendered.
Property shall be received for stock only at its
fair cash value to be fixed by the Board Of Di.
rectcrs. Services rendered and to be paid for in
stock shall only be done after fair valuation Of
the said services by the Board Of Directors.
Money subscriptions should be paid IS fol.
lows
In cash at the time Of subscribing.
The corporation shall begin business when
Fifty thousand Dollars Of the stock is subscribed.
ARTICLE v.
All the powers Of fhis corporation, except such
a py fnc law OF Oy uiis charter ae sPcSdny ic-
CURED to be exercised by the stockholders them
selves are hereby vested in and shall be exercised
by Board Of Directors comPosea OF not less
than SIX nor more than Eleven stockholders who
shalI be elected by ballot by the stockholders at
a meeting to be held on the lst Monday in May
of each year after 1913.
When the Board Of Directors consists Of sn
OF more, Four shall constitute quorom.
The said Board shall annually elect viva voce
from amongst its own members President, Vice.
president, Secretary. and Treasurer; and may
elect or appoint such other Officers. agents attor-
neys, OF employees as they may deem proper,
and discharge same at will.
The following stockholders shall compose the
First Board and shall hold office ill their success
sors are duly elected VIZ: