New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-13

the mead oil nuvlERtl0L
river to point the Bay Of venoa the
Vs G @ y o noo e @
don OF said known as the aray and soo grants and
river according the terms and conditions grants
we agree admit associates uader his charter such
stock the terms and conditions hereinafter provided
ARTICLE III.
The capital stock of said Company shall ten millions of
dollars divided into shares of one hundred dollars each which
$1,000 shares eight millions dollars shall be subscribed
PAID os Shall b. issued as full
paid stock and delivered to the trustees who now hold
efuas eSsea,sd 4 HsEg$@s hias.lr IA
OF the Sloo grant under the decree of the Mexican
Government.
100000 shares.
ARTICLE ".
Lists of subscriptions shall opened places
and places the Directors determine for subscription
after deducns the subscriptions of those who sign this
charter.
The be made the cash stock subscribed and to
be subscribed as aforesaid follows ten cent at the
per in ninety days thereafter and the called
each sixty days. Calls stoeE
shall be made by Of not less than sixty
ARTICLE VI.
On the this Company by said Trustees of the
said rights IN said Gar4y and sl99 grants in accordance with
Trustees the afore millions of dollars OF full paid stock
e P All ct s al e a s" Sis R Be
sa9 ria Board Of shall further
bonds of the Company Tor one million Of dollars payable
trust 10 be ssd for the payment ." nc debts and iatiss
ngdsr the soo grant h be appropriated 70 the
whom said Trustees By the terms Of said trust required
discretion may mink proper pay. being distinctly
S9 @ M S I the OF a9 What
either the said s9q Or ray grant, except as provided in The
ARTICLE VII.
dividend shall be declared before
pesd The Company shall derive revenue greater
than 10 per cent from its tolls and Whenever the receipts from
tolls shall exceed the required for the maintenance OF
s1 cont n5 Rg gn S un he ana
Tolls as TO keep the dividends down 10 10 per cent
1hs ce shall not impose any limitation on the Of
dividends 'hhl the company mag declare from sales or leases OF
its lands of revenue other than tolls for the
portation Of freight and passengers,
ARTICLE VII.
The six hundred thousand dollars aayaued by r. p Falcon
the Mexican Cove the Sloo grant shall paid
by the company IN It's S2p, on s"ca s1' as NAY be agreed
The Mexican Government In tho net profits as provided IL said
soo grant
The Sacns S Of @ Gompfy ' % q" It's S in
domicii by nine Directors whom SHALL be
mauent residents of said city Fonr Directors shall form
deut of their body and shall have eect Direct
elections all
Of oekhoer votes my be given il person or by proxy and
GD s AZ o S he y may he "a on ns
pany i'll the hands of any Of its officers.
ARTICLE X.
E%S sEe GhP wS M Eel A. Sr rSnH Tstks
aud Duncan + ksnneT 81 sGp9se the fret board Of Direct
annual SUBSEQUENT Board Shall
MGn Of Ap zach ye a4 " On the N Of It's
eligible Director unless he owns 25 shares of sleek
ARTICLE xI.
failure to elect Directors shall not dissolve the corporation,
but the Board in office shall
until Boar be elected All notices of election
in advance, in least two of the newspapers of NeS Or
leans.
ARTICLE XII.
In of failure part any subscriber pay
SEDIMENTS on his stock as reHnired the Board Directors may
ock and sell for the benefit of the Company with
out such previous notice advertisement compel by
default.
ARTICLE XII.
At all meetings of the stockholders aud at all elections
ioty of the stock represented such meetings shall govern
lug diminishing capital The Company, any
The % sac s m IssS Of the s act of the
Of corporations tor work. Of pubic improvements and utility
iug their right, agents Tor others at least three
onE Of the stock Of the Company in order 70 take valid and
holders and at all elections, majority of those present and
ARTICLE XIV
The President and Directors shall have make all by
ny S @ i've F an dc neT the eo @S
rate property real personal to doHny thing
herenbeort described with IS many tracks they may deem
nees;aty TO determine The Line and loo zion Of the roads and
purchase all materials machines vehicles teams ships vessels
and steamboats, and al! enpmcts med by them
or useful for The purposes Of the Company and in geuerd 70 do
eEety ,hirg m%fesay ana p"Ber 10 %sc he objects Of s
tnlon OF passengers, freight and mails
ARTICLE IV.
The Directors shall power appoint all officers
wants Of the Company fix their compensation and remove them
or other obligations such and such conditions it
may deem best and die Of the Company
secure the payment thereof,
ARTICLE XVI.
stated annual meeting of the stockholders shall be held
Of
the last year, operations and business and for the examination
into the condition of the affairs at which meeting q u.!
meni Of the financial and other air Of the Company shalt be
oica ei9 s "Sss 5 me b es4 @9 n PsG,o then in
call others " hen they think proper, and shall be their duty
oS stock Of The Gompa 10 cal meeting Of tie
interest Company ali meeting Of StoSkhoIder5 Shall
be held at the Office Of the Company, the city Of New Or
ARTICLE XVII.
cG SSK S,0E' ,d ha sp III the S Of The oTG"y
transfer Of stock shall be binding the Company until mado
on its stock books
ARTICLE XVIII.
r Inc ho"d OF h he "attsS to contract pe4y
The ay payaSo whS oS !" parr in the Stock Of The
COMPANY until the whole amount Of this capital sock Of the
Company shall have been exhausted.
ARTICLE NIX.
AS il will he necessary to enter "% sone arrangements with
Nessrs. Emile LaSere i. By11no hereby made the
s ' Or Go qi Of or G w s for 'Ts h %o Bes %
amendments and changes in said grants most ini
interests Of this Company
ARTICLE Xxx.
At the expiration OF the cler or whenever the dissolution
CT ns b@a AL Fsf I M EgssS w3s tf s
1t sl. he take possession Of De property or tie Cousauy;
and conduct i.stbusiIeSS 10 o qdn,ion on such 'ens and
holders regularly convened for maj and il At the
humber, shall the same for
further term, the stockholders dissenting from such NrsnewHI
nswn is fair value, be affixed by appraisers mutually
new orls 5,a ), y July 81 1851. ,,,,,,.