New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-02-03

itions Of said grants known as The aray and soo an and
river, according the and conditions grants and
to admit associates under this charter such per-
and their assigns shall hereafter subscribe pay
stock upon the terms and conditions hereinafter provided
ARTICLE III.
doa divided into shares of hundred dollars each which
5000 shares or eight millions Of dolla shall be subscribed
and paid for As hereinafter provided
10000 millions Of dollars shall he issued fall
pzd stock. and delivered TO the trustees who now bold
Of trust executed By + & Harsoa for himself and as
[sp5s.egiing the rights Of 4 r Feo9ge noy holder
Government.
100000 shares.
ARTICLE ".
ss Of subscriptions shall opened the times places
and places the Directors determine for subscription
much OF said eight millions OF cash stock remain
charter.
ARTICLE V.
The payments cash stock subscribed and to
he subscribed aforesaid folows per
time Of subscribing zen cent in sky days III reafer
cent IN ninety days thereafter and the remainder called
for BY the Direction 10 nstnsn not exceeding per
, @ s f d o. b y e"y ~ mot, MI 80, 100 i
days, In at least two published in New Orleans.
ARTICLE W.
conveyance Company said Trustees the
said rights IN ssid tiarsy and sloo grams in aeeordanee viii
said deed Of trust the Board Of Directors shall issue said
Trustees the aore aid two millions Of dollars Of full paid stock
for h purposes OF said trust and aid stock shall be eonsid
sad eoDye! d Board oil directors shall further issue 10
said Trustees for the pspose' Of ed trust the eight per
That portion Of said bonds which, under provisions Of said
1. to De used Tor we plsnen d he debts and liabilities
satisfaction Of such debts and liabilities the parties
convey same Of their sole and uncontrolled
d,een nay think proper to p"y it being d;ne gGaet
Sever contracted by any company person or persons under
eighth article Of this charter.
ARTICLE VII.
Nodividend shall be declared before the railroad
than Is per from tolls and whenever Tic receipts from
tolls shall exceed the amount required for the maintenance Of
per cent per annuu there shall be raabe dmimton of the
This shall impose any Limitation on the amount Of
dividends that the Company declare from aes
is lands source otheftnan tolls the
portalion Of freight and passengers.
ARTICLE VIII.
The six hundred thousand dollars advanced by F. Falcon
the Mexican Cove the Soo grant SHAH paid
on Company T3mburse itself ou Of he share Of
The Mexican in the profits, provided said
Sioo grant.
ARTICLE TX.
The business Of The Company shall be conducted
the city Of New Orleans. which shall forever be
domici by nine Directors OF whom least sAa per
quorum The directors shall elect President and Vice PTesi
dent out Of their body and shall have elect Direct
annual elections At all elections Directors meetings
each share shall be entitled to one Vote Legal se9vee 81 c
Ton md AL process against he Company may be made the
pauy, in the hands of any of its officers
ARTICLE x.
Emile Lasere, John NJ Bell, Alfred Penn W f. starke,
Lionel c, Levy, J. l. Warner J. ". Bnrbde p Hebert
and Duncan kenuer shall compose the st Board Of Direct
annual and each subsequent Bord be the third
Monday Of April of each and the discharge Of
eligible Director unless 3 shares Of sisek
ARTICLE II.
failure to elect Directors shall dissolve the corporation
Board Office exercise Of functions
until oa can be elected All notices Of election ard
in advance in at least OF the newspapers Of New
ARTICLE ytr
In of failure the part any pay the
siamen on his stock required the Board Of Directors
and sell it FOR he benefit Of the Company may with.
default >'''''' '-''' 30 p''''1 'O'' "H''' "
ARTICLE XIII.
At all meetings of the stockholders and at all elections
jory OF the stock represented such meetings shall govern
Aeepl ha sgsh melgs are called oT the purpose Of ncre
Of the purposes enumerated in he 9Th section Of The act Of the
Of corporations Tor work, Of pubic improvements and utility
approved March l4h 1855 shan be composed persons hold
ing in their right agents for others three
fonrhs Of the stock Of Company order and
holders and at all elections maoy Of those present and
represented shall govern
The President and Directors shah power by
laws necessary for the proper aud regular transaction of bust
property real personal do thing
hefenbelore described with as many tracks as they may deem
necessary determine the line and loo ton of the roads and
purchase all materials machines, vehicles teams ships. vessel.
every thing necessary aud PROPER to effect the objects of this
tation Of passengers freight and mails.
ARTICLE XIV.
The Directors shall power appoint ser
wants Of The Company their and remove them
pleasure borrow and issue therefor bonds
may deem best and mortgage the property OF the Company
ARTICLE XVI.
stated annual meeting Of The stockholders shall be held
into the condition Of the affairs which citing full
laid before the meeting by the President and Directors then ii
office BESIDES this NEE ing the President and Directors ma,
time the written requson Of stockholders epresentnl
stockholders take into consideration matters affecting th
interest Of the Company Az meetings Of sto kh9dsr shsl
held at the Office OF the Company In the city OF New Or
beans
ARTICLE XVII.
Certificates Of stock shall BE- issued to the Rareholses and
transfer Of stock shall be binding on the Company until mad
ARTICLE XVIII.
The Board OF Directors shall be authorized contract pccA
for work labor materials lands and furnished
The mpany payable in whole or in part in the stock Of III
Compan' until the whole Of the capital stock Of tn
| Company shall have been exhausted
| ARTICLE XIX.
As IL will be necessary enter into arrangements wit
Wsssrs Emile Iasere and j. p Benjamin are hereby made ii
both % i0 psS Hh
amendments and changes in said grants may ud
| interests of this Company.
! ARTICLE Xxx.
Al the expiration of the charter or whenever dssOuto
of the corporation all liquidation necessary
shall be by stockholders whose dut
and conduct il bnses to rai qndation on such terms an
II such manner as shall be determined by meeting Of soel
expiration Of the present charter majority of the sockhoder
further term the stockholders dissenting from ssch
shall be bonnt to transfer their stock those desiring the
newa 1T its fair value, to be affixed by appraisers mutual
5. New orea. 5. July 80 1857.
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