The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-08-30

\ any WdtcT OF water COURSES, taxes, Dd ;
nlets. 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 o.
town or country. or village, or parish
ward within this state, all rights, priv
ileges and franchises, that any or sale
parishes, cities, towns or villages o.
parish wards may choose to grant. in
lawful manner with reference to the
construction. maintenance, operation,
management and use of this corporation.
its depot, cars, locomotives, and its
business within the limits of any Of the
said parish, states or villages.
Section 9. 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 any 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
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
or both.
ARTICLE w.
All citations and other legal processes
issuing from the courts against this cor.
portion shall be served upon its President
Or in his absence from the Parish of st.
Mary, upon the Vice.President, or in the
absence Of both the President and the
from the Parish Of st.
Nary, then upon the Secretary or Treas.
lrer OF this corporation, at the Office and
lomicile of the Company.
ARTICLE V.
The amount Of the capital stock Of !
his corporation shall be three hundred |
housand dollars, divided into three
thousand shares having par value of |
ne hundred dollars per share. This |
harter shall become operative, and the
aid corporation shall commence bust
ess as soon as one hundred thousand
ollars of this capital stock shall have /
cen subscribed for.
Section 2. The time and manner of
aging subscription of stock of said
shall be determined by the
'oard of Directors except that DO stock
ball be issued by the Board of Direc-
or money or property actually received,
r for labor done, or services performed.
Section 3. In case of failure on the
art Of any subscriber to pay the whole
r any part of bis subscription to the
ipital stock of this company, at the
me or in the manner fixed by the
GARD OF Directors, the shares of stock
Inscribed for by him, and the pay
ents heretofore made by him thereon,
ay at their option be forfeited 10 the
'rporation by the Board of Directors.
ter services Of written notices on the
'linquent subscriber, and failure on
3 part to pay the balance within a :.
ne fixed by the Board
Section i. No stakeholder of this
rporation shall ever be held liable or I
rsonally responsible for contracts or S
nlts OF this corporation in any further t
m than the unpaid balance due by a
% or her on the shares of stock sub I
'ibed for. Nor shall mere informality t
organization have the effect of rem
ring this charter null, or exposing
, stockholder to any Ii .bility beyond l.
amount OF his stock subscription. y
ARTICLE vi. a
The corporate powers OF this corpora
shall be and are vested in Board Of
ectors, composed Of Five (5) stockhold J.
The Board OF Directors as now con. r
uted is composed Of the following b
ckholders: T. Cheney Lawless, VIE ST
= Z. Stewart, Pete Cherry, Mrs. Minnie a,
Connolly and T. Clarence Lawless, OF a.
ON !. cheney Lawless is President:
Il. Stewart is Vice President; Pete pl
'rry is Secretary and Treasurer. The in
we named officers and directors shall er
q ofhce until the first Tuesday in Nov. "a
Der, 1918. On which date. and annual. Ia
hereafter, meeting of the stockhold. 80
OF this corporation shall be held and "
re shall then be elected Five (5) Stock. on
1ers OF this company, to serve as direc- th
during the ensuing year. Notice Of wi
meeting shall be given in any news tn
er published in the Parish of st. Mary. nr
isiana. for full ten u0) DAYS prior ~ ~
'eto, or it may be given by personal pc
ice on each stakeholder or by letter.
led to each stakeholder in the n. s. Sb
addressed IN him hor