New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-29
CHARTER
Or THE
LOUISIANA TEHUANTEPEC COMPANY,


seal fourth to hold receive purchase convey u
their n 05po nn" name smc b0 real and fifth
their interest aud convenience require sixth to make and
Of affairs Of the corporation as may be necessary and
proper.
sucng carriage road from head Of mitigation on the the
Coatzacoalcos river to some point Bay Ventoa
Pacific And OF @ e also railroad from said
dions said grants the aay and soo grants and
enjoying and conducting the navigation
we agree to admit as our under this charter such
stock the terms and conditions hereinafter provided
ARTICLE III.
The capital stock Of said Company shall be ten millions Of
shall be appropriated as follows, viz:
and paid for as hereinafter provided:
10000 ha,es 6 or two millions Of dollars shall be issued as m
% e to aa f y and oo g. the deed
representing the rights Of + r Fsconns now holder
Of the sloo grant under the decree Of the Mexican
100000 shares.
ARTICLE ".
Lists of subscriptions shall be opened the times places
required by the of said grants
eight millions cash stock as may remain
after dedacting the subscriptions of those who sign this
charter.
ARTICLE V.
The payments to be made the cash stock
III bcbng in sixty d s Pr al e
per in ninety days thereafter and the remainder called
each intervals Of less than sixty days Calls
days, in at least Two newspapers published in New Orleans
ARTICLE VI.
On the to this Company by said Trustees of the
d ass sna h oa SqS scor @ %
Trustees the aforesaid two millions of dollars OF full paid stock
cred in all respects paid in cash and on the execution of
said conveyance aid Board Of Directors shall further issue to
bonds Of the Company for million Of dollars payable
uTder the soo grant s be appropriated 70 the
whom said Trustees are by the terms of said trust rqured to
the a2 e SSsf 9 he be S na
stood this Company payment debt what
the sd Or Gnrsy ra as Is he
| eighth article OF this charter
ARTICLE VII.
No dividend shall be declared before the railroad is
pleted The Company shall derive greater
than cent from its tolls and whenever the receipts from
the road payment Of running expenses dividend Of Il
tolls to keep the dividends down Is per cent
This shall impose any Limitation the
dividends that the Company declare from sales leases
its lands of revenue oherth than tolls for the
poration OF freight and passengers.
| ARTICLE VII.
The six hundred Thousand dollars advanced by F p Falcon
the Mexican Government for The Soo shall be pac
by the Company in its bonds, such be
and the Company will reimburse itself of The share
the Mexican in the profits provided in SALT
Sloo grant
ARTICLE TX.
The business Of The Company shall be conducted its office
the city of New Orleans which shall forever and
domici by nine Directors Of whom al least seven shall be
quorum The Directors shall elect President Vice Presi
dent of their body and shall have elect Direct
annual elections At ali elections Directors and at ali meeting
each share shall be entitled 10 one Vote Legal service Of ca
ion AID al process agn The H9Mpsny may BE- made on tn
pany, in the hands of any of its officers.
| ARTICLE X.
Emile e Lasere John NJ Bell Alfred Penn, " E. Sisrkt
Kenner shall compose the first Board Of Diee
@ n a sn Mnd Bo s hs sas ON e
Monde" Of Ap Of Ma each % aS On the s
eligible Director unless he owns % shares of stock.
ARTICLE XI.
failure elect Directors shall dissolve the corporation
the Board office shall continue the Of its function
until Board be elected All notices of election and
meetings of stockholders shall be given by publication fee
days in ADVANCE in of the newspapers of New
leans.
ARTICLE XII.
In case of failure on the part any subscriber pay
stalments stock required the Board of Directors
ock and sell for the benefit Of the Company or may viii
d 5t nn' no stakeholder shall be permitted to vote whilst
ARTICLE XIII.
At all meetings of the stockholders and all elections
jority the stock such meetings shall govern
that meetings called for the of ncrea
ing diminishing the capital stock of the Company or for NJ
oihe purposes fifth section Of the of i
Legislature OF Louisiana, entitled An for the orgnniac
approved March llh 1856 shall be composed persons h6
Of the rFh Of the S
STng acton in The AT H G, OF SS 81 S'V
ARTICLE XIV.
The President Directors shall have power omake all
laws for the and regular transaction of m
hold, receive purchase and convey under the corp
ary The construction repair maintenance Of the roa
herenbeore described with as many tracks as they may dee
to make all contracts for the PURPOSES Aforesaid
purchase all Materials machines vehicles teams ships veS
|
useful for The purposes Of the Company and in general
charter including the fixing and collecting of tolls for ansp
tation OF passengers, freight anu mails
ARTICLE Nv.
The Directors shall have powerto appoint all officers aud 81
wants Of the Company fix their ] nga Fe"Ee the
other obligations at such terms ana on sch CONDITIONS ~
deem best and mortgage the property OF the Company
y secure the payment thereof.
stated meeting OF the stockholders shall be held
week before the election Directors receive the report
the last years operations and business and for the cN nnn
of financial and other affairs Of the Company shall
aa eefqe ne mseti"g eS NE he Pdp p AMI D"ors
t. call Others they think proper and shall he their duty
one it'll Of the stock Of tn Company, call meeting of
StorkhodrrS 10 take into eoHsid'r%S my @IerS
70 be held the office of the Company III the city Of New
leans.
Sick books shall be sp n S a %esf G S 3
transfer of stock shall be binding OIL The COMPANY until mi
lie GU its stock books
Board of Directors shall be authorized contract ec
for work labor materials lands and effects to he Furnished
tompans Until he whole amour, Of the capita" stock of
20 Company shall have been exhausted
/" ARTICLE XIX.
As 1t will he enter into some arrangements
the Government Of Mexico and that Of the United St
joint agents the Company with nll power TO aEr" V
either both of said Governments ,oF SErh moa,ara'ig
" cous for securing full and perfect projection tor the ga
Interests OF this Company
y Y