New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-04-27
OKGANIzATIoN OF THE MIssIssIPPl

y, kNoM Al Me- by L Ia pm d tmas we
into @ hs st Of 5sDr Ne m
the laws Of that fer s hgdn
Bay the Gulf Of Mexico and tributary
n9s xheh title
snid Company shall be and established for the
nn 3sns 4%s is 81 MeR
co. and the tributary. waters thereof
Art . The said Company shall nave President, whom
Att B. The stock Of the said Company amount to
red equal Shares Of Fifty Dollars each Fifteen Dollars Shall
p at I ny Fen Dollars s mort ee
after Dollars thereafter; Fifteen Dollars in
he Time Of making the payment the subscribers shall
their notes for the other payments payable at the
After amount Fifty Thousand Dollars is subscribed
BE- at time y 1P lbs by the
Hrt l. Three Directors annually
Monday December each by ballot The three Stock
having greatest number votes shall be the Di
Of tSs umbsr Pre:den Who Shall YEAR The first
1 shat be as T. s se s nn qe a
ncase future hold said eection the day designated
aforesaid the President md Directors in office shall mold
oyer eGs he'd which can ~, be at amy time
deposited in the Pcstoice in N Orleans addressed
Dss
any general meeting of Stockholders.
Arts That the expiration of the twenty-five years for
OF the StoekhoiGers il majority and amount shall
f SANE sa is Elect e' Who Shall
Of all the property and effects of the Company sell
of the Of the liquidation and he debts Of the
s SSpn Y e ts o sSk ne c his
pose the said general qidator is hereby charged with the
Art The said corporation shall have seal of Office which
and repairs of their boats the said seal shall be
gaved with the of the Company and the figure of
Art That the Stockholders general meeting shall pass
cn'on Of the interests and Of the Company which
@ Not be Of Sx a s The
Art s. The President and Directors shall be- and they
boat with iron hull low pressure engine and boilers to make
nne and apparel and to mortgage the said boat after she is
finished the builders for such he due them
hold the boat until the price of her construction is
the payment of the price of construction at maturity of the
credit sell the said boat for cash on sons" s that The s%
unpaid portion Of hs Price be employed in hs trade for n H
shall have the right 10 nominate the captain and cerk of said
nominee but not to appoint either The captain or clerk them
Company, and shall be resident OF New Orleans
After P"ynE the o OF tue bout AL hfr eahss
pay ds ' sf o 50 get aT
ther credit said Directors shall be authorized
the snd The .nd purpose Of continuing the il
the funds pay the debt to the 6ndsr And
if necessary the Directors shall issue notes or bonds for the
ton Of the price Of said boat be due the TO be
secured by mortgage deed to trustees aforesaid all oil
which bonds shall be signed by the President, under
resolutions of the Board of Directors.
The Board OF Directors shall appoint for said boat
who shall Secretary of The Company keep n the
minute of all proceedings, and make
meeting Stockholders the Monday ii
December of each And at least when her
is sufficient surplus hand dividend of the profits shal
be DECLARED which shall be paid to the Stockholders
The President SHALL under the control of The Directors hav
entire of the boat and attend all dsbuse
the payment of all debts, the employment of the captain
officers and crew and do MI things for the successful
prosecution Of the business of the Company.
9. That time they deem necessary, five
the Stockholders have general meeting of Stakeholder
called purpose they deem necessary by calsin
given Stockholders by letters addressed
places residence stating the which the
r have called These notices be signed
Stockholders calling the and such general meeting
and thirds of all the Sockhoiertwo thirds
number and amount of stock Of the Companyeove the Pres
dent Directors either of Them and elect others in the
places their uneNpired or
Art 10 When insanen for Stock subscribed is not
punctuay when due the Directors the subscriber
the due in their option after giving hi
agent meeting of The Directors declare
forfeited well the he have paid his S,oc
In And IT, after suit and execution the due be
of snid detaung Stakeholder sciiber,
~ turn of executions operty found, " by the Sheriff. the
O. may declare his stock forfeited.
.d IL The shall keep
r. the Company Stock Book and shall issue after the
paid Certificates Of Stock showing the Sha
each Stakeholder, the
Stock of the Company shall be transferable Surrender
the Certificate and the written transfer the Stakeholder
Stock sail be liable
~ hity the otigi, nj uckholler, none other
We the subscribers hereto the Stockholders in and Me
ber of the said coroation fnr the number of Shares
ST the amounts opposite our respective names