New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-22

ss ras; h"s
grant not being in this Company organization Of said Com
Board existence would deceive III The pae and pos
be dc hs of % t
'rea. Of this Board; therefore be i unanimously
Rsoved That the members OF the Board severaly hereby
That these resolutions be published the
Resolved That this Board stands adjour.ed sine de-
'S L. n lily III H. s @s1''s.
CHARTER
.
LOUISIANA TEHUANTEPEC COMPANY.
ton Of railroad and other the Isthmus
Of Tehntepec under the several grants heretofore given
grants which be us hereinafter pro
n"v ve Of ne S @ e 4
ih of March 1855 entitled AN for the organization Of
corporations for works of public improvement uy
do subscribe to and agree upon the follow charter
ARTICLE 1.
The corporation shall be called the Louisiana Tehuanepec
Company and by that shall have power authority
period twenty years. second to contract sue and
be sued in their corporate name third to make and
der their corporate name property both rai aud PERSONAL f
d sss sy x ahd and
establish such bylaws for the proper management and regua
proper.
ARTICLE II.
The said as established s for the Of con
river TO some point the Bay Of Venosa in the
Se aso 5G
Of said grants known as , Garay and sIoo grants and
river according the and conditions of grants
their assigns as shall hereafter and pay for
stock the terms and conditions hereinafter provided
ARTICLE III.
The capital stock of Company shall ten millions of
dollars divided into shares of hundred dollars each which
$1,000 shares eight millions Of dollars shall be subscribed
10000 Gv ha be Issued as full
paid stock and delivered 70 the trustees who now hold
Of By A. Hafgons for hime Is d'e as
res sna the rs of F. nov holder
Government.
100, 900 shares.
ARTICLE ".
Lists Of subscriptions shall be opened the and places
and places ms the Directors may for subscription to
after deducting the subscriptions of those who sign this
charter.
ARTICLE V.
The payments cash stock subscribed and to
be subscribed aforesaid follows per
IN ne ys and st y as ce
for by the Direction in instruments not exceeding cent
shall by Of not than sixty
days in nj least two newspapers published in New Orleans.
ARTICLE VI.
said deed Of trust the Board Directors shall
for the purposes of said trust and shall be consid
said ad Board further 10
SAID Trustees for the purposes of said trust the eight per
That portion of said bonds which, provisions
10 De dssd Tor 5he Of the debts and aes
satisfaction liabilities as 10 The parties to
convey the same the exercise sole uncontrolled
the 0f
@ sS BY any person Or Under
eighth article of this charter.
ARTICLE VII
Nc dividend shall be declared before railroad
pleted The Company shall derive revenue greater
tolls shall exceed the required for the of
per cent per ennG there shall be r"be dpiHten Of he
tolls so as to keep the dividends down TO Is cent
This article shall impose any limitation the
dividends that the Company may declare from aes leases of
its lands OF other than tolls for the
portation Of freight and passengers.
ARTICLE VII.
The six hundred Thousand dollars yanced by F. P
the Mexican grant shall be paid
by the Company its bonds such terms may be agreed
the Mexican in the net profits provided ia said
Sloo grant
ARTICLE TX.
The business of the Company shall be conducted
the city Of New Orleans which shall forever be and remain its
nanent residents of said city Four Directors shall form
dent their body power elect new Direct
annual elections At ali elections or at ali tir
stock holders votes may he yrr in nersor m r ad
zach sha re- snail he euti tn 5ra ,ot f & =; 1i
on and all nrncrss ayains the iyo,nna,, ~, M , a ~
aI,rass 10
many in the hands of anv of it's ngccts " ~ " vac '-1
f'' - ' - " ''
ARTICLE X
lionel Levy T. Wnrner r " p,trird'.,, =, -, 49,
and Duncan kanner sb, ii cnmnoss NJ a. oari ~ .
ors until The first Monday in Nav IsSs T Ii"os a. III ~
animal and each subse0Iien Rrs II % 10 rca ~ az ~ ii
Monday of April of each yrar and enter on the az H.
duties on the first Monday of NAV FOLLOWING No one hail Inc
eligible Director unless he 25 shares of stack
iafe ~ eeci directors s NOT dissolve the corporation,
u once sa continue me exercise OF It's functions
u new oai can be elected All notices OF election and OF
VI sl oe gwen by phbheaiion htteen
Law '' " a. 'e't ''''' 'io newspapers VI we" VI
.uu,a
ARTICLE ALL
part any subscriber to nav the I'm
stock reuued the Board of Directors NAV
days advertisement notice in writing forfeit he
ock sell it for the COMPANY or NAV with
such previous notice payment
and stakeholder shall be in
default.
ARTICLE VIII
- ~
A. al meetings OF the stockholders and at all elections
ority of the stock represented such meetings shall
Actpt Suc hee ns se cneu o ue purpose OF crea
nf be nrnnxas n IL an, 20 ~ ny
nra of ;a;a,a at ga. u tte u ", VI La
If Tor Ynrt. Of mimic ,;,
WI Anu H'i'S,
ing in their own right or as agents for others at least three
Company in order to take valid and
binding the premises other meetings of stock
all