New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-05-19


Pacific Ocean constructing also railroad from said
the Bay Of ve1oa according 70 the con-
enjoying and conducting the navigation Of said
we agree 10 under this charter such
and their assigns as shall hereafter s9d pay for
ARTICLE III.
The capital stock Of said Company shall be ten millions q
dollars divided into shares OF hundred dollars each which
scoc sa2ss eight million. Of dollars shall be subscribed
10000 shse or two millions Of dollars shah be issued full
the title Garay and slOO under the deed
q ns. @ b E a EaFgGs for Sss Ssss
Of the sloo grant under the decree Of the Mexican
1t Government
100000 shares.
ARTICLE w.
Lists Of subscriptions shall opened the times and places
required BY Of said and such other times
places the Directors determine for subscription 20
after dedaeng the subscriptions Of those who now sign 'h'
charter.
The uavmens to be made on the cash subscribed
be subscribed aforesaid are as follows zen per cent at the
per in ninety days and The remainder as called
each nor at intervals Of les, sixty days Calls stock
shall be made by Of not les than sixty
days in least two newspapers published In New Orleans
ARTICLE vi.
On the conveyance this Company BY said Trustees of the
said rights said Gsrsy and soo grants m accordance with
Trustees the Aforesaid two millions Of paid stock
for h Of sad ane su On bs &c Of
said tad Board Of Directors shall further issue to
bonds Of the Company for one million Of dollars, payable
trust to Be used for the payment and liabilities
under the soO shall be appropriated 70 the
whom said usess BY the terms Of said rns required e
eonysy the name n n nrone ~ nav being uUde
stood this Company the Of no debt what
either the said grant except the
eighth article of this charter.
ARTICLE VII.
a.ha
peed The Company shall not derive net revenue greater
o % escsd he amour; required for The Of
the road the payment Of running expenses and dividend Of
tolls keep the dividends down TO Is per cent per an
This atcie shall not impose any limitation the Of
dividends that the Company may from sales or leases
portaiion of freight and passengers
ARTICLE VIII
The six hundred dollars by f. p Falcon
by the Company such be agreed
on and the Company will reimburse itself Of The share
Mexican in the net profits as provided in said
soO grant
the city of New Orleans which shall forever be and remain it's
dOmic by nine Directors Of whom at least ssa be per
quorum The Directors shall elect President and Vice Pres
supply vacancies that the in eryas between the
AT all elections for Directors and
each shall be entitled Legal service OF eits
PGeden person or Of the
psny. in the hands of any OF its officers.
| ARTICLE x.
Lionel Levy j. L. warner j. W. BGrbridgc r O. Hebsri
h SsV the s Of Pa
and subsequent shall be elected third
Ss % s p Monday No
eligible Director unless he owns Is shares Of seck
| ARTICLE xI.
failure elect Directors shall dissolve the corporation
Board in office shall continue the exercise Of its Junction.
meetings Of stocShoders shall Be given BY publication officer
days advance in at least Of the of New Or
leans.
of failure the subscriber the In
after ten days writing til
stock and sell il for The benefit Of the Company Or may with
default.
At all meetings the stockholders and at all elections
y Ci the stock Il s9an %esss shall
ing diminishing the capital stock Of the Company for
Legislature Of Louisiana entitled An act Organization
% @ &c or
ing in their right agents for others at least three
binding action in The premises at ali other meetings Of
holders and all elections majority of those present
ARTICLE XIV.
The President and power all by
TO hod receive purchase and under the
property real or personal to do any thing aece
heenbefore described with many tracks they deeI
determine tht OF ROADS,
to all necessary for the Aforesaid
purchase all materials machines vehicles teams ships yesse
purposes Of the Company and in general to
thing s saa al
' tatiOn of passengers, freight and mails.
d ARTICLE XIV.
The Directors power appoint all officers and
of the Company fix their compensation and remove the
or obligations such and sueh conditions
deem best and mortgage the property OF the Company
!. ARTICLE XVI.
meeting Of the stockholders shall be held
:, Directors the
operations and business and for the ex.mina,
en Of the financial Of Company shall
laid before the meeting by the President and Di,sctors then
call others when they think proper and shall be their
one Of the stock Of the Compaay to cali meeting
stockholders take into consideration matters affecting
N held the once of the Company in the city Of New
~ leans.
SoCs' shall be KEEP! IN hs Gcss Of Ss
transfer Of stock shall be binding the Company until mt
10 on its stock books.
The Board Of Directors shall be conractspecia
lar for work labor Materials lands and effects to be furnished
cUmp%ns usti the whole amount Of The capital stock Of
~ 81 Company shall have been exhausted
!" ARTICLE XIX.
will be Necessary 70 enter int some
M smS sr f 81 are hereby
joint agents Of the Company with full power TO agree
amendments changes said grants may
for securing full and perfect protection for the rights
JE. ARTICLE Xxx.
Atthe expiration charter wheneverthe dissou
the s render ~ ~ So.
shall be to take possession o. he property o. the ComD
md n such manner as shall be determined by meeting Of
regularly for that q sSS 4
in amount and numbeI shall desire 20 renew the same
ne soan ns their stock hose desiring
nswa at is fair value to be affixed by appraisers mutt