All corporate powers and privileges granted to telegraph companies in this state shall be granted in the manner described in this Code section. Whenever at least five persons who are 18 years of age or over and who are citizens of the United States, two-thirds of whom are residents of this state, propose to form a corporation for constructing, equipping, and operating any telegraph line or for carrying on the business of a telegraph company, they shall make and file in the office of the Secretary of State, in duplicate, a petition for charter, under their hands and seals, setting forth:

(1) The name of the corporation proposed;

(2) The object for which it is formed;

(3) The amount of its proposed capital stock;

(4) The number of shares of such capital stock;

(5) The places from and to which such telegraph line is intended to be constructed, equipped, and operated, or, if already constructed, then the places from and to which the same is intended to be operated, giving as nearly as practicable the counties and cities through which it may or does pass;

(6) The location of the principal office of such corporation by city and county, which shall be in this state;

(7) The time of commencement and duration of said corporation, the period of duration not to exceed 50 years; and

(8) The name and residence of each applicant.