New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-28


sss aS Of point The Bay #
Coazacoacos river the Bay of Venosa according
enjoying and conducting the navigation
river the terms and conditions of said and
admit associates this
and their assigns shall hereafter pay
stock upon the terms and conditions hereinafter provided
ARTICLE III.
The capital stock Of said Company shall be millions of
sooo shares eight millions Of dollars subscribed
10000 >ha,es, two millions Of dollars shall
the title to said Garay and soo grants under the deed
OF trust executed BY P A Harg9ns for himself and
OF the sloo grant under the decree OF the Mexican
Government
100000 shares
ARTICLE ".
Lists Of subscriptions shall be opened at the times and places
required by the terms of said and such other times
so much Of said eight millions Of cash stock as may remain
after deduetg the subscriptions of those who Sign this
ARTICLE V.
The payments to be made the cash stock subscribed
be subscribed a? aforesaid are follows the
time OF subscrbg ten cent in sixty days th
in ninety days thereafter the
each intervals less than sixty days Calls Tor stock
payments shall be made by advertisements than sixty
days in at least two newspapers published in New Orleans
ARTICLE VI
On the conveyance TO this Company by said Trustees of the
ad 1gs sad GaG and Sq9 grants in accordance with
Trustees the aforesaid two millions of dollars of full paid stock
eed IN ali @ ps e ea s s" Sie on ife es
said conveyance said Board of Directors shall
bonds of the Company for million Of dollars pay able
tr payment Of the debts and lab,ies
under the soo n sh be appropriated 70 the
whom said Trustees by the terms of said required
discretion may think proper to pay It being distinctly uHe
stood, that this Company the payment debt
contracted by persons, under
either the said S9o aray grant except provided
eighth article Of this charter.
ARTICLE VII.
dividend shall before the railroad is com
peed The Company shall! derive
than Is per cent from its tolls and whenever the receipts from
tolls shall exceed the required for the
the oad the payment Of running expenses and dividend Of Is
per cent per annuu there shall be rabe diuton Of the
tolls so rs to keep the dividends down TO u per cent
dividends that the Company declare from sales
lis lands Of othertha tolls Tor the
portation Of freight and passengers.
ARTICLE VIII.
The six hundred thousand dollars advanced by F. Falcon;
ny ' and ,ba oSnnn VIII r U r l f
the Mexican Government in the Let profits provided i'll said
Sloo grant.
| ARTICLE TX.
The business Of the Company shall be conducted
the city of New Orleans. which
domc BY nine Directors of whom at least shall be
quorum The Directors shall elect President resi.
os to supply vacancies that occur in the neTyas between the
elections all elections for Directors all
each Share sa be entitled to one VOTE Legal Of ci@
%T i" or s h the oee Of he @
pany, in the hands OF any OF its officers
| ARTICLE Y.
Gs sy Ga9 ws M R I arb rS2 Y s6sf
and Duncan kenner sh II compose the first Board of Direct
nnEa and each Subsequent Board shall be on the third
MSG on s p o " Of nS 9 the Ys 3 9
eligible Director unless he owns p shares of stock.
ARTICLE NJ.
failure elect Directors shall not dissolve the corporation
bnt the Board in office shall continue the of its functions
until new board can be elected Al notices of election I'D Of
days in ADVANCE in at least TWO OF the newspapers Of New Or
ARTICLE XII
In of failure the of subscriber the in
stalments on his stock as required The Board Of Directors
days advertisement notice writing. forfeit
and sell it benefit of the Company, may, with
such previous advertisement compel payment by
default.
ARTICLE Kill
At all meetings of the stockholders and at all elections
oriy of the stock represented at such meetings shall
that such meetings called for the of mcre
ing diminishing capital stock of the Company my
the purposes enumerated in the hh section Of the act OF the
OF corporations works of pubic improvements and utility
approved March l4h 1855 shall be composed of persons hold
foGrths stock Company, in order take valid
holders and at all elections, majority of those present anc
ARTICLE xiv.
The President Directors shall have power all by
laws necessary for the proper and regular transaction Of bust
hold receive purchase and convey under the
any property real personal do thing
sary tor the construction repair or Of the road
necessary the line and location of the roads
purchase all materials machines, vehicles teams ships vessel
and ssamboais aud all de- med BY them neGessa
every Thing and proper 10 effect he objects Of TIL
taon of passengers, freight and mails.
ARTICLE XIV.
wants Of the COMPANY x their compensation and then
at pleasure may borrow and issue therefor bonds note
other obligations such terms and on such condi'on as
msy deem best and mortgage the property Of The Company
ARTICLE XVI.
stated annual meeting Of he oekholde, shall be held on
ek oeoe me eeGon s al sU i1Ggs
into the condition the affairs at which meeting full stat,
laid bSore thu msstns, By the Pee9 rseors
Sg SJ sss This Sa St5ps 3 s be s any,
time the written requstion OF Stockholders representa-
9ckholds take INFO coasdernSn any matter afelns tn
be held the office Of the Company IN the city Of New Oh
ARTICLE XVII.
Stock books shall be kept the Offices Of the Company
Certificates shall be issued the shareholders and
transfer OF stock shall be binding on lie Company until mh
ARTICLE XVIII.
The Board shall be authorized to contract special
for work labor materials lands and effects to be furnished
the Company in whole or in part in the stock Of III
Company shall have been exhausted
ARTICLE XIX.
As il will into some arrangements wit
the Government Of Mexic0 and the United
Messrs Emile IaSere j. P Beriam hereby made III
either Or 10Th Of said governments for snch modification
amendments changes in said grants rs may most ul
cous FOX full and perfect pro.ec2n Tor the rights
interests Of this company.
ARTICLE XXX.
exiraon of charter, whenever the diSsOutio
corporation all render its liquidation thre
shall be elected by the stockholders whose dlt
shall take possession the property Of the C0uHu,
and conduct fra; liquidation, lch
in murner shall determined by meeting of Socl
holders Regularly convened for that purpose and il. til
expiration OF The present charter majority Of the CckUder
1n md number, shall desire the for
further term the stockholders Dissenting from sRch
shall boua 10 their stock those desiring the
neWai, It's fair NtNea TO De aHlNeu by appraisers mutual
chosen Tor thai purpose.
New br!caus. July ~, 1885,
Emile Las my shares.
John NJ. Bell. tltiy shares
j. W. BMrbTidEe-. -.......,-.... FlitS shares
J. l.. Warner. ''-''.'' lttS shaFes.
Lionel G. leYy-... fltS sNares
W. e StaTke. ,s,...- tlty shares
Duncan F. kenler. .tltY shares
Alfred Penu per pro. Emile lRSere Fifty shares
John S'deli per pro Emile l.ASerc. Fifty shares
Z. A. HnrgoUS,
Per pro. J. P. Benjamin, One hundred share
J, P. Beujnmin. observation-disclosures. FIFTY shares
j ID. DeneErc, ''.''''. NY SHARES.
. Z, .. Hebert '''''tFity suatee.
The undersigned Recorder of Mortgages in and for the pa
city Ct New Orleans. cehes that the within charter
recorded this day in his office, in book society No folio IS
: JOHN HOLMES, Recorder.
New Orleans August 4, 1857. ans Law
: ALGlERS WAREHOUSES; APPLY 7
n COCHRAN HALL, Agents, No. Sc DRAWER street,
tbg