Year: 1873




which shall be given in one news
paper published in Monroe and
one in Bastrop, if one be publish
ed there, for at least thirty days
before said vote shall be taken.
Said meeting shall appoint con-
missionerS to hold such election,
and the result of the election shall
be reported to the board of direc-
tors of this company and be en-
tered on their minutes and carried
out by the directors.


Sec. 5. Be it further enacted, &C.,
That the corporate rights and
privileges of this company shall
rest in and shall be exercised by
a board of directors, and that the
corporators named in the first sec
tion of this act shall constitute
the board of directors, who shall
hold their Office as such until the
first Monday in November, a. D.,
1873; that if any of the said incor-
porators shall die or dispose of
their entire interest or stock in
this railroad or notify the board of
directors that they have resigned
their dictatorship therein, so as to
reduce the number of directors
below the number of nine. it shall
be the duty of the remaining di
rectros to fill the vacancies by the
election of stockholders in place
thereof, so as to keep the number
of directors nine. That said board
shall convene at the domicile of
this company, on the call of the
president, who is hereby author
ized to call the directors together
i'll order to organize, and upon
meeting, if there be a majority
present, they shall organize by
electing a president from their
own body, and secretary, who
shall not be director, and they
may elect or appoint any other
officer or employe they may deem
necessary for the purposes of the
company; and shall fix the salary
of the president and the salary or
compensation of all other officers
of the company, and may require
bonds from any such officers, ex-
cept the president thereof, in such
amount as they may fix, to be ap
proved by the president, and all
such officers, except thepresident,
may be removed by the president;
and said board of directors may
pass all ordinances and bylaws
not in conflict with the laws of
this State. The term of office of
the president shall be for the term
of office of the board of directors,
by whom he is elected. The sec
ond board of directors of said com
pany and all subsequent boards
shall hold Office for one year from
the first Monday in November of
the year in which they are elected,
and shall be composed of nine
members, to be elected on the 6rst
Monday of November, A. D., 1873.
and every year thereafter. The
board of directors shall appoint
three stockholders commissioners
to hold such elections, and it shall
be the duty of the board of direc-
tors to advertise such election in
one newspaper in Monroe and
Bastrop not less than ten days
before each election. The cleo
ton shall take place at the Office
of the company, and be reported
by the commissioners TO the exist
ing board Of directors, who shall
notify the persons elected, and
upon majority of the nevERlect-
ed members assembling they shall
organize, and the old board shall
deliver over to them all the books,
papers, money, property and other
effects belonging to the company.
A a;oriey of those voting shall
elect each share of stock; shall be
entitled to one vote, and votes for
directors may be given by proxy.
A failure to elect on the day here
in fixed from any cause, shall
have the effect of continuing the
old board until the next election
as herein fixed; a majority of the
directors shall constitute quorum
to do all the business of the COM
pany, and any vacancies occur
ring therein shall be filled by
electing stockholder by the re-
naming directors, any director
who parts with all his stock in the
company shall cease to be a direc-
tor, and his place shall be filed
as are other vacancies, but in adj
mitting associates a two-thirds
vote shall be necessary.