The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-10-18

any wafer OF WdCoT COuIsoS, Aoh0Ss Uoy .,
inlets. streets. yards, turnpikes or canals,
and public lands of the State of Louis
lana or of the United States through or
over which its said roads may pass,
touch or cross.
Section s. To obtain by grant or
otherwise, from any parish or state or
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 or
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 c0rpor.
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. it's 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 be served upon its President
or in his absence from the Parish OF St.
Mary, upon the president, or in 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.
The amount of the capital stock of
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 bust.
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
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
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
shall ever be held liable or
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 SUBJ
scribed for. Nor shall mere informality
IN organization have the effect of rem
1ering this charter null, or exposing
any stakeholder to any liability beyond
he amount of his stock subscription.
ARTICLE vi.
"The corporate powers Of this corpora.
ion shall be and are vested In q Board Of
Directors, composed Of Five (5) stockhold-
RS. The Board Of Directors as now con-
'tituted Is composed of the following
T. Cheney Lawless, Viii.
lam E. Stewart, Pete Cherry, Mrs. Minnie
i. Connolly and T. Clarence Law less, of
whom T. cheney Lawless is President;
". E. Stewart is Vice-President; Pete
Cherry is Secretary and Treasurer. The
.bQYe named officers and directors shall
lold Office until the first Tuesday In Nov
'mber, 1918. On which date, and annual. |
y thereafter, meeting of the st0ckhold.
RS Of this corporation shall be held and
here shall then be elected Five 10y Stock. |
folders Of this company, to serve as direc. |
ors during the ensuing year. Notice of |
his meeting shall be given In any news> |
,aper published In the Parish of st. Mary, |
for full ten (10) days prior |
hereto, or 1t may be given by personal |
ervice on each stakeholder or by letter, |
nailed to each stakeholder in the U. 8. |
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