The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-07-07

'aAeH, "oeh .ury bnah DC coseur tH1a.
Ia there should be sufficient stock subscribed in
tho city OF Mexico make up, with allotted the
books Of subscription may be reopsned such place the
United States or Europe the directors may direct, and
remain open un the whole subscription shall amount
twenty thousand shares when tbey shall be closed
subscription shall be reopened for three years.
then unless DO absolutely tor the OF
the railroad and Tor furnishing and equPping the
AKroLK
The payments the stock ribed shall be as follows
Twenty five per the time of twenty
five cent month thereafter and per cent, per
month thereafter until the whole amount be paid
Ght&t@ ARTICLE VIZ.
When the railroad shall be com and July furnish
ed and pped The cash subscribers the
placed exactly on an equality with A. G. sloo and his
shares shall be issued the sa ID cash pro
-, ne . 10 IT, @ an
the company shall stand ten millions of dollars. I'm
ARTICLE #strs ffg
No dividend shall be until the completion OF the
entitled TO receive interest the OF per per
annum. from The date OF their respective payments until
the railroad bs completed said interest shall be paid
semi annually at The Office of the company which the
stock may be subscribed. .4..t. ..rf y.
ARTICLE 81
The six hundred thousand dollars advanced to The Mex
lean with the legal charges interest here
and Tor which the contract stand, pledged. sha be
paid out Of the first money received by the company.
Two hundred thousand dollars to nav the expenses Of
taking possession OF the route and riou expenses
red In Mexico and elsewhere shall be advanced A. G
Sioo f,r the reimbursement OF which, and The interest
thereon, atthe rate of six per per snnum said Soo
hereby gives the company lien three hundred thousand
The business OF tho company shall be conducted at
its office, in the city Of New Odeans by board OF niue
shall elect OF their body president and an.
other vice pre- dent Of the company Al ali elections
given in person by and each share one
vote Legal seyce o. all process or citation against The
shall be bound by service Of process citation whether
made on the pref In person, or le bis address
a. the Office OF The company, IN The hands Of any
officers.
A. G. sloo. Arnold Harris. Edward Yorke William NJ
McApin, Angel de uIbide, and Manuel Payne shall com
the tut board of direcor and stall office
uni the first Monday OF May, 1854 The elections snail
be aauua and each subsequent board shall be elected
The hird Monday Of April in each year. and any stock
holder holding less Than five shares stock shall be ell
gbie as director.
fanre elect directors shall dissolve the corpoa
tiop but the board IN Office shall continue the
its functions until board be elected an notice,
Of elections and OF meetings OF ckhoers sfer frs,
election Of directors shall be given by publication, fifteen
days in advance, IN two newspapers ia New Orleans.
go
Agreeably to the 22d article OF the contract an Office shall
be opened IN city Mexico for The issue of sock OF
fees shall likewise be opened in London or some other
place in Europe and such other ri ice and with such
organzson and under such regulations. the drcc tors
may prescribe
ARTICLE
In OF failure the OF any subscriber pay
nsalm<n his stock required. the board Of directors
shall have the opon time thereafter, upon days
written notice the dsiauer Of ioreng stock and
selling IL for the benefit Of The company OF compelling,
by suit the payment OF such ins,alnlents and stock
holder shall BIS permitted to vote whilst in default
All meetings OF stockholders called for the purpo,e Of in
for any OF the purposes enumerated in the fifth section
of the of the legislature OF Louisiana entitled An
and utility" approved l2h March, 1882 shsl
be composed Of persons holding in their right,
company order take valid and binding action in The
all other meetings OF stockholdeIs and
govern.
ARucLr XVII.
The board OF directors shall have power make by.
laws for the proper and regular Transaction Of It's
business and that oil The company.
xviu.
The board OF directors may I'LL any vacancy thar may &C.
cur In its own body.
The president and directors shall have power to hold re-
ccive, purchase, and convey under its corporate name,
~ ~ for the eon.,p"eon enoI no
aiming OF the roads hereinbeforc deserted, with
many tracks as they may deem necessary 10 determine
tbe ne add location Of the roads. to make and con-
sruct all works Whatever, which required by the
working aud compleron Of said roads. they shall have
power make all neccs.ay contracts for the purposes
aforesaid and to purchase. with funds company
all ma terials, machines vehicles teams, ships vessels
steamboats,, and other eqoipments deemed by them
ary useful for the OF the company; fix and
collect ol, in com pance with the and in gem
era do all things necessary and proper carry into
feet the objects of this charter.
ARTICLE Xxx.
Tho directors shall have power sppon, such officers
agents. engineers, clerks and servants they may deem
At; fix their compensation, and them pleas
ure.
.gr ARTICLE XXI.
The directors borrow money for the orthe com
pauy, issue ,nds notes, other obligations same
bic such time and al 'uch of interest they
may dee proper and may the properly of In.
com pany the payment OF tnch obligations
ARTICLE XXI,
stated annua meeting Of the s,ockbodcr, shall be he IA
the election Of directors TO receive the
the condition OF the affairs VII icb meet
ing full of the ioapca and other affairs III,
shall be laid before the meeting by the preside
and directors then tn office Besides this meeting the
proper aud il shall be their duty any time, ~. writ
iston OF stockholders
stock the pspy call meeting holders
siderstioo sny matters affecting interests
the company Al meetings Of stock holders shall be held
office OF the compsny in the city OF New Orleans
Stock books shall be kept in the Offices Of the company
and transfer stock shall be binding the com pany
until made on its stock books. .##..
Ebe ttet5r ARTICLE
The board OF director. shall be authorized contract
specialy for ok labo materials and ELECTS be
ni.bsd payable In whole In
pwoy, until the ~hoie amount Of the CAPT
tai Of company shall have been duly subscribed
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