New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-25


oily In h @ Of That
ee Of be L SDnmSa S the sFe" dis
Resolved That this Board be and the hereby dis
That the members of the Board severy hereby
Resolved That copy these be published in the
ResayeS Ta ILL., Raas s Ety. stands
certify the foregoing to be from the minutes
CHARTER
THE
LOUISIANA TEHUANTEPEC COMPANY,
We the undersigned having construc,
Of Tehuantepec under the grants given for
soo grants which TO be transferred hereinafter pro
Under an net Of the St iat Of pG form
18th of March, 1855 entitled IAN the organization Of
corporations for works of public improvement and utility and
we do subscribe to and upon ny charter
ARTICLE
Company and by that shall have power and anhory-
period years. ' eo Sss ss and
pc ed ea eh P had third to make and
Der their corporate name property both PERSONAL NTH
such for and rs
proper. "''
ARTICLE II.
The Said corporation is established for the purpose of con-
strueting from the head Of navigation on the
pes on ao e Any ssS a ,a hs
zacoalco river to the Bay of Veno according
enjoying and conducting the navigation
we agree to admit as associates under such per-
stock upon the terms and conditions hereinafter
ARTICLE III.
es eo sa sa Of on s be millions Of
shall be appropriated as follows, viz "''NA
a. and paid for hereinafter provided Na subscribed
10000 na Sss sSsk two "D %Gns Of dollars shall be full
me tue to sara Gaay and Sloo grants under the deed
representing the rights Of !. r Frconne, now holder
Gove!nmen
100000 shares
Lists Of snhserpons shall be opened at the times and places
and places The Directors may determine seg5 to
SO much of said eight millions of cash stock may
| charter. ' '''
ARTICLE V.
The payments to be made the cash to
be subscribed aforesaid follows per at the
time OF subscribing zen per in sixty days reaer
for by the Direction in exceeding per cent
shall be by q not less than sixty
days in at least two newspapers published New Orleans
ARTICLE VI.
On the to this Company by the
said rights said Garuy grants in accordance with
aid deed t Of trust the Board Gt Dest9Ts shall issue to said
for the purposes of said trust and sad stock shall be
aid Board Of directors s2 tSsff0 ne to 10
on o e for hs g sad hs eight cent
That portion of which under the provisions of said
the soo Shall to Ss
n sns debts s. AZ" nd, Liabilities a 10 The parties to
convey the same in the exercise Of their sole and
stood Company he payment Of no eS what
the @ y a y E4an n
eighth article Of this charter.
ARTICLE VII.
No dividend shall be declared the is com
than per cent from its tolls and whenever the receipts from
the road the of running expenses dividend
PET cent per there shall be ratae dm4aon Of the
This Article shall not impose any Limitation the
dividends that the Company declare from sales OF
It's lands or any source of other than tolls for the
portaon freight and passengers,
ARTICLE VIII.
The SIX hundred thousand dollars I'D yanced by F. P Falcon
by the Company it's bonds terms as may be agreed
on and the COMPANY will reimburse itse ont Of he share Of
sloo grant.
ARTICLE TX.
city New Orleans which shall forever be md rean s
domc by nine Directors Of whom least saa be
quorum The Directors shall elect President
supply vacancies Occur the in eryais between the
annual elections At for Directors and meetings
each share shall be entitled Legal Of
person his d the o,es s Of he CONE
pany, in the hands of any of its officers
ARTICLE x
Lionel {. Levy j. L. Warner, j. " Barbigs r g. Hsbef,
Monday May 1853 The elections shall hattie be
annual and each snbseq Board shall the third
duties the first Mogday Of May following one shall be
eligible rs Director unless he owns 2J shares of stock.
ARTICLE II.
failure to elect Directors shall dissolve the corporation
but the Board in office shall continue the functions
meetings of stockholders shall be given by publication fifteen
days in advance in AT least two of the newspapers of New
leans.
ARTICLE XII.
am eas o. on hs Fo OK s OF any BE the in
after ten days advertisement notice in writing forfeit the
out such previous notice advertisement compel payment by
SUIT and no stakeholder shall be permitted to vote whilst in
ARTICLE XIII.
At all meetings of the stockholders and at all elections
ng or dins the capa stock the nay o. Or '3efe a
of the enumerated in the fifth section Of the
Legislature Louisiana entitled the organization
be OF hS
the Company of ISs ak s vsd nd
binding action in the premises at all ohe meetings of stock
represented shall govern.
ARTICLE XIV.
The President and Directors shall power to make all by
laws for the proper and regular transaction of bust
to hold receive purchase and convey under copo
rate property real personal thing
Sy for the construction repair maintenance the
determine the line tie roads and
nnTohse all ali for hf
and s,Samboats and all equipments def med by them necessary
thing and to the oees Of to as
charter including the fixing and collecting tolls transport
TALON Of passengers freight and mails.
ARTICLE XIV.
The Directors shall have appoint all officers
wants OF the Company fix their
at pleasure borrow issue therefor bonds
other obligations such MS il
deem best mortgage property 1.-THE COMPANY to
secure the payment thereof
ARTICLE XVI.
A stated annual meeting OF the stockholders shall held
week before the election of Directors the report of
the last years operations and business examination
into the condition oil the affairs which meeting full
laid before the the President Directors then in
ohce Besides this meeting the President Directors may
call others when they think and it shall he their at
time on the written requstiOn stockholders representing
one;h OF the stock of the Company call meeting
stockholders take consideration matters he
interest of the Company All meetings stockholders Shall
be held at the office Of the Company the city Of New
leans.
ARTICLE XVII.
STICK books shall he kept The Offices the COMPANY
Certificates OF stock shall be shareholders and no
transfer OF stock shall be binding onthe Company until
on its stock books.
ARTICLE XVIII.
The Board Of Directors shall he contract sppcI
9r work. labor materials, lands and effects furnished 10
me Company payable in whole part stock of the
company, nt the whole amount of the capital
Company shall have been exhausted
ARTICLE XIX.
AS IL VIII be necessary into
the Government of Mexico and that the United Sate
MeSsrs Emile IaScre and j. p Benjamin are hereby made the
?iht agents OF the Company, with full power agree
either or both of said Governments such notifications
amendments and changes in said grants may seem most ud
cos Tor securing full and perfect protection the rights and
interests of this Company. " ~