New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-11
CHARTER
OR THE
LOUISIANA TEHUANTEPEC COMPANY.


LOUISIANA TEHUANTEPEC COMPANY.
We the undersigned having agreed the
ton OF railroad and other communication the Ishmus
Of Tehuantepec under the several heretofore given for
sl9o grants which 70 be transferred to hereinafter
have s s for that form
18th of March 1855 entitled AN for the organization of
corporations for works of public improvement utly and
,owit:
ARTICLE 1.
The corporation shall called the Louisiana Tehrantepec
Company by that shall power authority
enjoy by corporate name
the period Of years contract
be sued in their eorPorste name third to make and use cor
der their property both and PERSONAL fifth,
interest aud may require sixth
establish such for the proper management and egua
proper.
ARTICLE II.
The said corporation is established for the purpose
structing carriage road from the head navigation the
river to point the Bay Of ventosa
river to the Bay Sentoea according the
enjoying conducting navigation Of said
river according to the terms and conditions of said grants
and their assigns shall hereafter subscribe pay
stock the terms and conditions hereinafter provided
ARTICLE III.
hs ca G Slo sad o sha be millions
seoo shares eight Of dollars shall be subscribed
10000 shares millions dollars shall issued as full
the title to said aray and soo grants under .he deed
of trust executed by ?. A. Hargous, for himself
Of the sloo grant under the decree of the Mexican
Government.
100000 shares.
ARTICLE ".
Lists Of subscriptions shall be at the times and places
required by the terms of said and at such other times
40 pe a as saS rg o % .os for up0
after dedueting the subscriptions of those who sign this
charter.
ARTICLE "
The TO be made the cash subscribed
8; e per ar" as Sty ds s Per the
cent in ninety days thereafter and the called
sse6 q les: ,ha9 sixty Cans
days III al least TWO published in New Orleans,
ARTICLE VI.
On the this Company by said Trustees of the
SAID Of n bs F q SS scors sa @ with
Trustees the aforesaid two millions of dollars of full paid stock
cred ali respects as paid in cash. and on the execution Of
said a'd Board Of Directors shall further issue
bonds Of the Company for one million Of dollars payable
ns, is to be used for the syent Of the debts and liabilities
Of suck The s s19 1 ae BE as pr BIZ t. the
whom said trustees by the terms of said trust required
discretion think pay it being distinctly
stood that This Company assumes the of debt
either the said s92 or Gaa grant except as is provided in the
ARTICLE VII.
No dividend shall be declared before the railroad is
pleted The COMPANY shall not derive net
tolls exceed the amount required for The maintenance Of
the road the payment Of running and dividend Of 10
tolls 10 keep the dividends down to Is per
This Article shall impose any limitation the
dividends that the Company may declare from sales or leases of
its lands of other tolls
| poration of freight and passengers.
ARTICLE VIII.
The six hundred thousand dollars advanced by F. Falcon
the Mexican grant. shall be paid
by the Company in its bonds such may be agreed
the Mexican in the net profits, provided i'll said
! sloo grant
ARTICLE TX.
The business of the Company shall be in
the city Of New Orleans which shall forever be and
donci by nine Directors OF whom at least shall he
nsuen residents Of said city. Four Directors shall form
dent of their body shall power new Direct
supply vacancies that occur in the intervals between the
OF eft % s votes ay be or by pg0.
ton process against Company may be made on the
or left his address the office Of the Com
pany. in the hands Of any of its officers.
ARTICLE Y.
Emile Lasere, John NJ Bell, Alfred Penn, " = Sarke,
f. compose first Board Of Direct
ors until the first Monday in Msy ss The elections shah
%p On e I'll. Ms "Gh "a TaS S aw% the Gsrss
eligible Director unless he owns % shares Of stock.
ARTICLE XI.
failure elect Directors corporation
but the Board in office shall continue the Of its functions
until new Board can be elected All notices Of election and
meetings of stockholders shall be given by publication fifteen
days advance in at least two of the newspapers Of New
| leans.
| ARTICLE Kill
In of failure part any pay the in
salments on his STOCK required the Board Of Directors
oek and e for the 6ens or of Re conps wr Of s e
out such previous notice advertisement compel payment by
5' sna no shall be to vote whilst in
ARTICLE Mi.
At all meetings of the stockholders elections ma
ority of the stock such meetings shall govern
that such called for the purpose Of
enumerated in the fifth section Of the
Legislature of Louisiana entitled An for the Organization
approved lh 1856 shall composed Of persons hold
oar Of the stock the Company in taks valid and
binding action the premises at al other meetings of stock
represented shall govern.
ARTICLE XIV.
The President and Directors shall have all by
laws for the proper and regular of
to hold receive purchase and convey under corpo
sary for the construction repair roads
10 with s " d rs as they RAY
to make all for the purposes aforesaid
and steamboats, and NIL de med by them
or useful for the purposes Of the Company and in general to do
charter including the fixing and collecting of tolls for transport
| ARTICLE XIV.
The Directors shall have power to appoint all officers and
pleasure may borrow money bouis notes
or other obligations at such and such conditions
may deem best and mortgage the property of the Company
secure the payment thereof
! ARTICLE XVI.
stated annual meeting Of the stockholders shall be held
week before the election Directors receive the report OF
into the condition Of the aars whie meeting nD fail
et OF the financial and other affairs OF the Company shall be
office Besides this meeng the President and Directors
g Others when they think proper and shall be their duty at
ouet Of the stock of the Company, call meeting of the
interest of the Company nectius of so .khors Shall
be hsd at the office Of the Company in the city Of New Or
ARTICLE XVII.
Stick books shall be Kept the offices of the COMPANY
t.Nnofr Of stock shall be binding the Company until made