New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-21

unanimously
Resolved That this Board be and the hereby dis
Resolved That members of the Board severay hereby
Rssos T copy of these resolutions be pDsh.o in
Resolved, That this Board stands adjourned sine de-
the TO be true fEG tiST r. %ins's
CHARTER
OF
LOUISIANA TEHUANTEPEC COMPANY.
We the undersigned having agreed to unite for
ton Of railroad and Other communication the hmus
that by the Mexican Government called aray and
vded have determined for that purpose corporation
Hfs Of Y "s Sf as o4 % s
corporations for works of public improvement and uy and
ws sS no" subscribe to and agree upon the follow charter
ARTICLE L.
The corporation shall be called the Louisiana ehpHnepec
first to have and to enjoy succession by their corporate nae
be sued in their corporate name; third make
% e ns so o I
and appoint such directors and officers
establish such by laws for the proper and regu
ton of the affairs of the corporation may be and
proper
ARTICLE II.
The said CORPORATION is established for the purpose of
river to point the Bay Of ventea the
ofs" G s sy o "so the a
dto OF said grants known the Garay and Soo and
river according the conditions of said grants and
assigns shall hereafter subscribe and pay for
stock the terms and conditions hereinafter provided
ARTICLE III.
The capital stock of Company be ten millions of
dollars divided into shares of hundred dollars which
sOoO shares eight millions dollars shall subscribed
30 m and paid for as hereinafter provided
10000 hae. two millions of dollars shall be sued full
paid stock and delivered ,9 the trustees who now hold
of trust executed by F. A. nargoas for himself and
OF the Sloo grant under the decree Of the Mexican
Government
100000 shares
ARTICLE ".
Lists of subscriptions shall be opened The times places
required by the of said grants and such other
and places AS The Directors may deerine for subscription TO
after deductng the subscriptions of those who sign this
charter.
The be made the cash stock subscribed and to
be subscribed aforesaid follows ten cent at the
in ninety thereafter remainder called
eac nor at ss than sixty s ' ay for stock
shall be made by Of not less than sixty
days in Ut least two newspapers published in New Orleans
ARTICLE VI.
On the this Company by said Trustees Of the
SAID [gh's in said ar1y and sq2 grants il accordance with
Trustees the aforesaid two millions of dollars OF g paid stock
cred in respects if paid in cash and on the execution Of
said laid Board of Directors shall further issue
said Trustees for the of said the eight per
bonds Of the COMPANY for one million Of dollars payable
trust be used for the payen, Of the debts and liabilities
Of neh SSe sd" es s parties e to
whom said Trustees by the of said trust required to
ant Sy % d dey nSe
stood that This Company the of debt what
contracted by company pers0us under
either the said s9o aay grant except provided in the
eighth article of this charter.
ARTICLE VII.
No dividend shall declared railroad il com
peed The Company shall not derive net Ltyenue greater
man 10 Per cent ron IT'S tolls and whenever from
t3lls sG exceed the amount required Tor The maintenance OF
the road the payment Of running expenses and dividend Of Is
tolls so as to keep the dividends down TO Is cent
This a'ce impose any limitation on the amount of
dividends That the Company may declare from He or leases Of
portation Of freight and passengers.
ARTICLE VII.
fhe FIX hnnded thousand dollars I'D yHnced BY Falcon
by the Company in its bonds on such terms may be agreed
te Mexican 6oHen in the net profits as provided ia said
| Soo grant.
ARTICLE TX.
The business of the Company shall be conducted office
the city Of New Orleans which shall forever be and remain
domc by nine Directors Of whom at least shn be
mament residents Of said city, Four Directors shall form
dent of their body and shall have elect Direct
or" to supply yHe"ne1T thu, 3seH IN the eryas between The
sse bae ss Se ss msy be ge in Or BY
President eftto his address Office Of the
pany, in the hands of any of its officers,
ARTICLE X.
Gme Laser 'GP NJ h M ES, En-" T.
until tie Monday May lS5S The elections shall be
%S9day Of Ap Of ae a and The Of
eligible Director unless he owns % shares Of stock
ARTICLE XI.
failure to elect Directors shall dissolve the corporation
until new Boa can be elected All neiees Of eeeiion and
meetings OF shall be given by publication fifteen
leans
ARTICLE XII.
In of failure tie part OF subscriber pay the In
amens his stock, required the Board of Directors may
after ten days adyersemen or notice in writing forfeit The
ont such or m
dtfauIt. ' ~ '''N>''''' '''' ''''''S '''e "'''
ARTICLE XIII.
At all meetings of the stockholders and all elections
oy of the stock represented such meetings shall
except meetings called purpose nceas
Gf enumerated the afh sseoa 4 he Of %
Legislature Of Louisiana entitled An ac for NE ornn1aor
approved March l 1856 COMPOSED Of persons h6l
"S, S"" 9 s" IL, SS5 'S
"nG tn al J m Ro!s
ARTICLE XIV.
The President shall have power 10 make all by
laws for the proper and reuar transaction of bust
re any PROPERTY o SPv e s
for the construction repair main of the road
necessary Of the roads anc
all materials macnss Vehicles teams ships vessel
anu e f M ana m PINE de- med by them necessary
eEery thing and proper to effect The objects of th
charte including the liking and collecting OF tolls for
tation OF passengers, freight and mails.
ARTICLE XIV.
The Directors shall have appoint all officers and
of the Company fix their compensation then
at pleasure may borrow money aud issue therefor bonds
other obligations and conditions as
deem best and mortgage the property Company Il
secure the payment thereof.
ARTICLE XVI
stated animal meeting Of the stockholders shall be held
week before the election of Directors receive the report
the last years operations and business
into the condition of the affairs which me- citing fn state
of the financial and other the Company shall h
ad The meeting by the PRECEDENT and Directors then
Office Besides this meeing the President
call others when they think proper shall duty
time on the written equun Of stockholders
onett o. the stock of the Company call meeting tn
ockhoder 10 take into consideration any matters affecting
interest Of the Company All meetings kholders shall
leans