The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-11-08

operate its said railroad roads or branch
lines, or parts of the same. and to have
its right Of way across, along or upon
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 or
over which its said roads may pass,
touch or cross.
Section 8. To obtain by grant OF
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 it's
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 it's 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 tho 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 Vice. President. or In the
absence Of both the President and the
ce-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.
ARTICLE v.
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 8. 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 Of their option be forfeited to 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 q |
time fixed by the Board.
Section 4. No stockholder 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 |
10 organization have the effect of rem
lering this charter null, or exposing |
my stockholder to any liability beyond
he amount of his stock subscription.
ARTICLE vi.
1.-THE corporate powers Of this corpora.
ion shall be and are vested in Board Of |
Directors, composed Of Five (5) stockhold-
III. The Board Of Directors as now con.
tituted is composed Of the following
T. Cheney Lawless, Viii.
lam e. Stewart, Pete Cherry, Mrs. Minnie
Con0lly and T. Clarence Law less, Of
vhom T. cheney Lawless il President;
v. Z. Stewart is Viae-P President; Pete
;herry is Secretary and Treasurer. The
bove named officers and directors shall
lold Office until the first Tuesday In Nov.
mber, 1918. On which date, and annual.
= thereafter, . meeting Of the stockhold.