Year: 1861

tion or junction with the Little Rock and Fort Smith Railroad, or any other road that may be hereafter built or proposed to be built; and. also, for the connection with said road. of road towards the Pacific ocean, or elsewhere and they shall also have power to make such arrangements or contracts with the National Government, or individuals, or cor porations, as may deemed necessary and bene- iicial for said road provided, that the powers granted in this section shall only be exercised when the exercise thereof is authorized by vote of d majority of stockholders to be assem- bled on notice, at Des Are.

 SEC. 24. No stockholder of this Company, shall be liable or responsible, in any event, for the losses of the Company to 3 greater amount or extent than the amount of the stock subscribed for and taken by him.

 SEC 25. Any notice required by this act, charter or the bylaws, to be served by stock holders may be served on non-residents by advertisement in some newspaper along the line of said road, or in the city of Little Rock, thirty days before the action or proceeding to be endorsed thereon

 SEC 2G If said road be anywhere built along or across any public road, or the streets or wharfs of any town or citt the said Com pany shall prepare and keep in order, good and adequate facilities for crossing the same; and in nowise obstruct the public in the use of said street, road or highway. If said road should be carried across any navigabe stream, 1t shall be done in such manner as in noWise to obshuct the free navigation of said river

 SEC. 27 The president and directors may fix the salaries of the president and yice-presi- dent secretary treasurer and all other officers, agents and servants of said company and take security from them when deemed expedent; but no director shall receive any compensa- ton for his services.

 SEC. 28 The president and directors may, if they consider it expedient, receive subscrip- tions for stock, payable in work or materials, in and for said road, to be done and finished under the superintendence of the directors of said Company, or officers appointed by them, bond being taken to the company, for the faithful performance of the work, or furnish ing of the materials No director, officer, servant or agent of the company shall be an undertaken or contractor for any work on said road.

 CEC. -0 -AG IIlC CA plldlIOH OI JlIlS CudIlCI, or whenever the dissolution of corporation shall render its liquidation necessary, three commissioners shall be elected by the stock holders, whose duty it shall be to take posses sion of the property of the company, and conduct its business to final liquidation, on such terms and in such manner as shall be determined by a meeting of the stockholders, whereat they are elected, which meeting shall be regularly convened for that purpose; and, if at the expiration of the present charter, majority of the stockholders, in number and amount, shall desire to renew the same for further term, the stockholders dissenting shall be bound to transfer their stock to those desiring the renewal, at its fair value, to be fixed by appraisers, mutually chosen for that purpose.

 SEC. 30. This charter shall continue for niney-nine years at the end, whereof, the corporate powers hereby granted shall cease, and terminate; and nothing in this act shall ever be construed as confcming banking priv ileges.

 SEC 31 That this act shall take effect, and be in force, from and after its passage.