ARTICLES OF INCORPORATION
of the
YOSEMITE VALLEY RAILROAD COMPANY
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KNOW ALL MEN BY THESE PRESENTS:
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That we, JOHN S. DRUM, WILLIAM B. BOSLEY, SYDNEY M. EHRMAN,
THOMAS TURNER and JOSEPH D. SMITH, all of whom are citizens of the
United States of America, and residents of the State of California, with the
name and for the purposes hereinafter stated; |
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FIRST. That the name of the said corporation shall be |
"YOSEMITE VALLEY RAILROAD COMPANY."
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SECOND. That the purposes for which said corporation is |
formed are: To engage in and conduct the business of a common carrier of passengers, express and freight of every kind, for compensation; to construct, maintain, operate and conduct, for transportation of passengers and freight for hire, a railroad of standard gauge along certain routes and between certain places hereinafter designated, together with all necessary sidetracks, spur tracks, turnouts and switches; and, in the operation of such railroad, to use steam, electricity, or any other practicable motive power; to have, use and enjoy all and singular the powers, rights, privileges and franchises which a railroad corporation lawfully may under the law of the State of California, as it now is or at any time during the existence of the said corporation shall be; to acquire, leasehold and other interest in
railroad which it is purpose, as aforesaid, of the said corporation toconstruct, and to operate such other railroads; to grant, bargain, sell, lease, convey and otherwise dispose of all and singular the property of every description, including railroads and franchises, of which said corporation shall at any time be the owner; whenever required for any of the purposes to which said corporation is created, to borrow money, and as security for the repayment of borrowed money, or for the performance of any of the obligations of the said corporation, to hypothecate, mortgage, pledge or convey in trust, all and singular property which may at any time belong to or thereafter be acquired by the said corporation; to acquire by purchase or other real estate and personal property including franchises, shares of stock in other corporation, warehouses, depots, station building, engine houses, coal chutes, machine shops, power shops, and car shops which may at any time be necessary or proper for the convenient transaction of the business of the said corporation and the exercise of its powers and franchises; and generally which shall be necessary or proper to the accomplishment of the purposes for which the said corporation is created.
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THIRD. That the said standard gauge railroad which it is the
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purpose of the said corporation to construct as aforesaid, is intended to begin at the city of Merced, county of Merced, State of California, and to run thence in a general northeasterly direction by a practicable route, to a point on the north side of the Merced River, distant about one (1) mile southeasterly from the quarter (1/4) section corner on the west boundary of Section Thirty (30), Township Two (2) South, Range Twenty-one (21)
East, Mount Diablo Base and Meridian., in the County of Mariposa, State of California.
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FOURTH. That the estimated length of said railroad is one |
hundred (100) miles. |
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FIFTH. That the place where principal business of said |
corporation is to be transacted is in the City and County of San Francisco, State of California.
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SIXTH. That the term for which said corporation is to |
exist is and shall be fifty (50) years from and after its creation.
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SEVENTH. That the number of directors of the said corporation |
shall be five (5), and the names and places of residence of the persons who are appointed such directors for the first year of the existence of the said corporation are as follows:
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NAMES. | PLACES OF RESIDENCE. |
- | JOHN S. DRUM, | San Francisco California. |
- | WILLIAM B. BOSLEY, | Oakland, Alameda County, California. |
- | SYDNEY M. EHRMAN, | San Francisco, California. |
- | THOMAS TURNER, | Alameda, Alameda County, California. |
- | JOSEPH D. SMITH, | San Francisco, California.
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EIGHTH. That the said capital stock of the said corporarion is |
and shall be the sum of Five million (5,000,000.00) dollars,
in gold coin of the
United States of America, and the number of shares into which said capital
stock is and shall be divided is fifty thousand (50,000), each of par value
of one hundred (100) dollars. |
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NINTH. That the amount of capital stock of the said corporation |
which has actually been subscribed is the sum of one hundred thousand
dollars as follows: |
NAMES OF SUBSCRIBERS | NUMBER OF SHARES | AMOUNT |
JOHNS. DRUM, | 980 | $98,000.00 |
WILLIAM B.BOSLEY, | 5 | $500.00
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SYDNEY M. EHRMAN, | 5 | $500.00
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THOMAS TURNER, | 5 | $500.00
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JOSEPH D. SMITH, | 5 | $500.00
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TENTH. That before the signing and execution of these Articles |
of Incorporation there was actually subscribed to the capital stock of thesaid corporation One thousand (1,000) dollars for each mile of the railroad intended to be constructed and operated, and that the sum of Ten thousand (10,000) dollars, being ten (10) per cent of the amount so subscribed, has been paid for the benefit of said corporation to Thomas Turner, who has been elected and appointed Treasurer of said corporation by said directors and subscribers to the capital stock of said corporation, who are the same persons. |
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IN WITNESS WHEREOF we have hereunto set our hands | and seal the 18th day of December, A. D. 1902.
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JOHN S. DRUM |
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WILLIAM B. BOSLEY |
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SYDNEY M. EHRMAN |
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THOMAS TURNER |
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JOSEPH D. SMITH |
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