Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-07-09

contract and shall be subscribed for exclusively ly
1000 reserved for the State of Tabasoo.
1000 1000 do do do do chiapas
35 to be divided equally between Arnold Harris Ed
ward Yorke, William NJ. Goodrich, Henry Rem
shaw, Garnett Duncan, Robert M. McAlpin, and
Angel de Iturbde, who have each agreed to subscribe
and pay for five shares of said stock
1893 to be subscribed as hereinafter provided.
100000
Art Lists Of subscription shall be opened such time
in such and Mt such places in the United States in
Europe and in The city Of Mexico, the directors direct
for the subscription to the stock, and shall remain open until
the stock assigned to each place be subscribed when they
shall be closed but in the city Mexico they shall be kept
open Tor SIX months unless the amount be taken when
they shall b0 closed
Art In should not be sufficient stock sscrib
ed in the city Of Mexico TO make up, With. that allotted to
the United States and Europe twenty thousand shares the
books of subscription may be rcoened such place the
main until the whole subscription shall twenty
thousand shares when they shall closed and the ubscp
less it be absolutely necessaf the completion Of the rail
Art and s s furnishing the as !.
follows Twenty.d pei cent s the time of subscribing
twenty-five per cent mont.heeaftcr and per ceA
per month thereafter until tle Whole amount be paid
Art When the railroad shah be completed and fully fur
nshed aud equipped the cash SUBSCRIBERS the shall
be placed exactly on an equality With A. g. soo and bAs
signs and II necessary to accomplish this additional shares
shall be issued the said subscribers Ao rato make
the shares Of the cash subscribers in all fifty
that the aggregate the whole stock Of the company shall
stand ten millions Of dollars
Arts No dividend shall be made until the completion of
railroad but all the subscribers the cash stock shall be
entitled to receive interest the of six per per
from the date of their respective payments until the
railroad be compleed said interest shall be paid semi
| subscribed.
Art The six hundred thousand dollars advanced to the
Mexican Government with the legal charges and interest
ereon and for which the contract stands Pledged shall
be paid out of the first money received by the company
Art TO- Two hundred thousand dollars pay the expenses
OF taking possession OF the route and various in
cured in Mexico and elsewhere shall be advanced to A. O.
soo Tor the reimbursement Of which and the interest there
at the rate of six per annum, said Soo hereby
gives the company lien three hundred thousand dollars
Of his stock.
Art H. The business Of the company shall be conducted at
its Office in the city of New Orleans by board of nine drec
tors three of whom shall quorum The directors shall
elect of their body president and another vice pre-
sident OF the AT all elections by the stockholders
and at all their meetings. votes may be given in person
proxy and each share shall Legal
all OF citation against the company may be made
the president and the company shall be bound by service Of
citation whether made the president in person.
or left to his address at the Office Of the company in the hands
of any Of its officers
Art IL. A. g. soo, Arnold Harris Edward Yorke William
NJ Goodrich, Henry Renshaw Garnett Duncan Robert NJ.
cApin Angel de Iturbide and Manuel Payne shall CON-
pose the first board of directors and shall
until the first Monday of May 1854 The elections shall be
annual and each subsequent shall
third Monday of April each year and stakeholder hold
ing not less than five shares Of stock shall be eligible
director.
Art b. failure elect directors shall not dissolve the
corporation but the board in Office shall the
Of It's functions until board be elected All notices
election of directors shall be given by publication fifteen days
IN advance, in two newspapers in New Orleans.
Art H. Agreeaby to the I'D article of the contract
office shall be opened in the city Of Mexico for the issue of
stock Offices shall likewise be opened London
other place in Europe and such other places and with such
organization and under such regulations the directors
prescribe.
Art Is In of failure the part any subscriber to
pay the instruments his stock required the board Of d
rectors shall have the option any time thereafter upon
days written notice the defauer, OF forfeing the stock
and selling it for the benefit of the company of compelling
stakeholder
shall be permitted to whilst in default.
Art TO- All meetings Of stockholders called for the purpose
OF increasing diminishing the capital stock of the
for any of the purposes enumerated in the fifth
ton of the act Of the Legislature Of Louisiana entitled An
act for the organization of corporations works public
improvements and utility approved 18th Of March, 1882
shall be composed of holding in their right
agents for Others least stock Of the
company in order take valid and binding in the
PREMISES at all other meetings of stockholders and all
elections majority of those present and represented shall
govern
Art H. The board of directors have power to make
NIL bylaws necessary for the proper regular Of
its bus and that of the company
Art rs The board of directors may fill any vacancy that
may occur in its own body
Art TO- The president directors shall have power Ia
held receive purchase and convey under its corporate name
any property real personal movable nmovable do
every thing necessary for the construction repair main
tanning of the roads hereubefoe described with many
tracks as they deem necessary determine tho line
and location Of the roads, and and construct all
works whatever which required by the contract and
which they deem necessary for the proper working
completion Of roads They shall have the mower to make
chase with the funds Of the company all machines
vehicles ships vessels steamboats, and other equip
ments deemed by them necessary useful for the purposes
the company 10 FIX and collect tolls in compliance with
contracts and in general do all things necessary pro-
per TO carry into effect the objects Of this charter
Art ~ The directors shall have power appoint such
GERS agents engineer clerks and they may
lit 10 fix their compensation and them pleasure
Art ~ The directors may borrow for the Of the
company issue bonds notes. other obligations same
payable at such time and at such Of interest they
deem proper and may mortgage tho property Of the
pany to secure the payment Of such obligations.
Art 81 stated annual meeting Of the stockholders shall
be held week before tho election directors 10 receive
tho report Of the last years and business
examination into the condition Of the affairs at which
ing ful statement Of the financial and other affairs Of the
company shall be laid before the meeting by the president
and directors then in Office Besides this meeting pres
dent and drec call others when they think proper
and II shall be their duty, time the written requs
ton oil stockholders representing fifth Of the stock of the
company to call meeting Of the stockholders to take into
consideration any matters affecting the Of the
pnny All meetings Of stockholders shall held the Office
OF the company in the city Of New Orleans.
Art 23 STICK books shall be kept in the Offices Of the
pany Certificates Of stock shall be issued TO the sharchod
and transfer shall be binding the company
until made on its stock books.
Art a. The board Of directors shall be authorized TO
tract specially for work. labor materials and effects 10 be
furnished to the company payable in whole or in part in the
stock Of the company until the whole amount Of the capital
stock OF the company shall have been duly subscribed
Art 20 At the expiration Of the charter whenever the
dissolution of the corporation shall render its liquidation
cessary three commissioners shall be elected by the stockhod
er whose duty shall be take possession of the property
OF the company and conduct its business to ina qudaton
such terms and in such shs be determined by
meeting OF stockholders regularly convened for that pur
pose and IT. at the expiration Of the present charter,
Jory Of the stockholders in number and unit shall desire
to renew the for further the stockholders dissent
ing from such shall DO bound transfer their
to those desiring the fair vane be ax by