Source: http://mdh.contentdm.oclc.org/cdm/ref/collection/molaws/id/44789/
Timestamp: 2019-08-19 04:45:11
Document Index: 306786424

Matched Legal Cases: ['§ 2', '§ 3', '§ 4', '§ 5', '§ 2', '§ 3', '§ 4', '§ 5']

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254 RAIL   ROADS.
estates, real, personal or mixed; of what kind or quality soever, and the same
from time to time, to sell, mortgage, grant, alien or dispose of, and to make
dividends of such portion of the profits as they deem proper, and also to
make and have a common seal, and the same to alter or renew at pleasure,
and also to ordain, establish and put in execution such by-laws, ordinances'
and regulations as shall appear necessary and convenient for the government
ofthe said corporation, not being contrary or repugnant to the constitution
and laws of the United States, or of the State of Missouri; and generally to
do all and singular the matters and things which to them it shall lawfully appertain to do, for the well being of the said corporation, and the due management and ordering the affairs of the same; Provided, always, that it shall
not be lawful for the said corporation to deal, or use, or employ any part of
the stock, funds or money, in buying or selling any wares or merchandize in
the way of traffic or in banking or brokering operations.
§ 2. That the capital stock ofthe said corporation shall be six hundred
thousand dollars, divided'into six thousand shares of one hundred dollars each;
and it shall be lawful for the said corporation, when and so soon as in the
opinion ofthe board ofdirectors hereinafter appointed a sufficient amount
of stock shall have been taken for that purpose, to commence, and carry on
their said proper business and rail-road operations under the privileges,
conditions and restrictions of this charter; and with the capital aforesaid to
conduct and carry on the same until the company shall find it expedient and
necessary to increase their capital, which they are hereby authorized to do
from time to time, so that the same shall not exceed the sum of one million
§ 3. That the said company are hereby authorized and empowered to
cause books for the subscription of stock, to be opened, at such times and
places as they may- deem most conducive to the attainment of the stock required.
§ 4. That the stock, property, affairs, business and concerns ofthe said
company, shall be managed and conducted by nine directors, who may respectively hold their offices for one year, or until others may be chosen, and
no longer; which directors shall at all times during their continuance in office
be stockholders in the said company in their own right, and shall be citizens
of the United States; and the said directors shall hereafter be elected on the
first Monday in May in each and every year, at such hour of the day, and at
such place as the board of directors for the time, being shall appoint; of
which electmn public notice shall be given in one of the public newspapers
at Palmyra, and at least thirty days immediately preceding such election, and
such election shallbe holden under the inspection of three stockholders, not
being directors, to be appointed previously to every election by the board
of directors; and such election shall be made by ballot and by a plurality of
votes of the stockholders present or their proxies by written authority, allowing one vote for every share of said stock; but no share shall entitle the
holder to vote, unless the same shall have been held by him or her, at least
sixty days next immediately preceding such election. And the first directors
shall be John McKee, William Stewart, James Eareckson, Arthur L. Johnson, James Hanna and Benjamin Forman, who shall serve until other directors shallbe elected accrdingto the provisions herein specified.
§ 5. That the directors herein before named shall as soon as may be after
the passing of this act, and the directors to be chosen at such annual election,
shall as soon as may be thereafter, proceed to choose out of there own body
one person to be president, who shall preside until the next annual election
thereafter; and in case ofthe death, resignation, or inability or refusal to serve
ofthe nresident or any director of said company, such vacaney, or vacancies^
Identifier LAWS_9th_1836-1838_0254.tif
Transcript 254 RAIL ROADS. estates, real, personal or mixed; of what kind or quality soever, and the same from time to time, to sell, mortgage, grant, alien or dispose of, and to make dividends of such portion of the profits as they deem proper, and also to make and have a common seal, and the same to alter or renew at pleasure, and also to ordain, establish and put in execution such by-laws, ordinances' and regulations as shall appear necessary and convenient for the government ofthe said corporation, not being contrary or repugnant to the constitution and laws of the United States, or of the State of Missouri; and generally to do all and singular the matters and things which to them it shall lawfully appertain to do, for the well being of the said corporation, and the due management and ordering the affairs of the same; Provided, always, that it shall not be lawful for the said corporation to deal, or use, or employ any part of the stock, funds or money, in buying or selling any wares or merchandize in the way of traffic or in banking or brokering operations. § 2. That the capital stock ofthe said corporation shall be six hundred thousand dollars, divided'into six thousand shares of one hundred dollars each; and it shall be lawful for the said corporation, when and so soon as in the opinion ofthe board ofdirectors hereinafter appointed a sufficient amount of stock shall have been taken for that purpose, to commence, and carry on their said proper business and rail-road operations under the privileges, conditions and restrictions of this charter; and with the capital aforesaid to conduct and carry on the same until the company shall find it expedient and necessary to increase their capital, which they are hereby authorized to do from time to time, so that the same shall not exceed the sum of one million of dollars. § 3. That the said company are hereby authorized and empowered to cause books for the subscription of stock, to be opened, at such times and places as they may- deem most conducive to the attainment of the stock required. § 4. That the stock, property, affairs, business and concerns ofthe said company, shall be managed and conducted by nine directors, who may respectively hold their offices for one year, or until others may be chosen, and no longer; which directors shall at all times during their continuance in office be stockholders in the said company in their own right, and shall be citizens of the United States; and the said directors shall hereafter be elected on the first Monday in May in each and every year, at such hour of the day, and at such place as the board of directors for the time, being shall appoint; of which electmn public notice shall be given in one of the public newspapers at Palmyra, and at least thirty days immediately preceding such election, and such election shallbe holden under the inspection of three stockholders, not being directors, to be appointed previously to every election by the board of directors; and such election shall be made by ballot and by a plurality of votes of the stockholders present or their proxies by written authority, allowing one vote for every share of said stock; but no share shall entitle the holder to vote, unless the same shall have been held by him or her, at least sixty days next immediately preceding such election. And the first directors shall be John McKee, William Stewart, James Eareckson, Arthur L. Johnson, James Hanna and Benjamin Forman, who shall serve until other directors shallbe elected accrdingto the provisions herein specified. § 5. That the directors herein before named shall as soon as may be after the passing of this act, and the directors to be chosen at such annual election, shall as soon as may be thereafter, proceed to choose out of there own body one person to be president, who shall preside until the next annual election thereafter; and in case ofthe death, resignation, or inability or refusal to serve ofthe nresident or any director of said company, such vacaney, or vacancies^