New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-01-08
ARTICLE l..



stock the terms and conditions hereinafter provided
ARTICLE I'LL
dollars divided into shares of each which
5000 shares sight millions Of dollars shall be subscribed
! =, ~ and paid for as hereinafter provided
paid stock and delivered TO the trustees who hold
trust executed by a. Hseu G th Sn aesa
representing SI the rights Of 4 r F.eonnet now holder
| Government.
100000 shares.
ARTICLE Nv.
List Of subscriptions shall be opened the places
places he Directors may dsisas for sfp 70
s mGsn o d ght o. sSh stock as may remain
charter
ARTICLE "
The payments made on tho cash stock subbed and to
be subscribed ss aforesaid follows the
pe cent N SnetS a zen per ss Ty days m ten
for by the Direction in nalments exceeding per cent
payments by Il not less than I1
days in at least two newspapers published in New Orleans
ARTICLE vi.
On the conveyance Company By said Trustees OF the
id tights IN sad Gsr@y and S9o grants IL accordance with
Trustees the millions Of dollars Of full paid stock
for ,h purposes Of said rust and said stock shall be eonsd
said conveyance ad Board Of Directors shall issue to
Thai marian ~ saiS ~ ih o. IA,s pay able Il
trust is to be used for the Of liabilities
" ger NE soo grant shall be appropriated % the
whom said Trustees by the terms Of said required
convey he same in the exercise of their sole and
stood tina, this Company payment Of no debt what
either grant, except cI as provided PROVIDE Gn ss
eighth article of this charter.
ARTICLE VII.
No dividend shall be declared before the railroad is com
peted The Company shall derive net revenue greater
tolls shall The amount required for The nntensnee ~
the road the Payment Of running expenses and dividend
tolls 50 as 10 keep the dividends down Is per per
his shall impose any limitation on the amount Of
that The Company declare from sales leases Of
portation of freight and passengers
ARTICLE VIII.
The SIX hundred thousand dollars advanced by p r. Falcon
net to the Mexican Cove the soo grant shall be paid
oy the Company IN IL bonds such may agreed
IN Sna he company WI reimburse itself out Of The share Of
re Mexican nment in the net profits provided said
ARTICLE TX.
the 9 eS 81 Ss 4 GR@g s sa ONCE
domic by Directors Of whom AZ least ven ali % c
manent residents Of said city. Four Directors shall form
dent out Of their body and shall have
annual elections AT all elections for and at ali
Of votes may be given in by proxy
lion and AL process against The Company BE made
pafy in the hands Of any Of its Officers.
ARTICLE x.
Emile Lasere, John NJ. Bell, Alfred Penn w. E. stsrke
and Duncan Kenner s compose he srs Hoard IF bges
Ss and seh sGasy o Ins she'll b
Monday Of April Of each year and enter the discharge
eligible as Director unless owns Is shares sisck
ARTICLE xI.
but tie Board in oGiee mai eonjpe ~, ss
until new Board cen be elected All notices Of election aud Of
leans. '1' "ps'' u NC" VI
ARTICLE XII.
In of failure part any subscriber to pa, the In
smen on bis stock required tho Board Of may
ock and sell it for The benefit of Company Or may With
OUT such previous notice or advertisement compel payment by
default WV """s' j"
ARTICLE XIII
all meetings Of the stockholders and AT all elections ma
jority Of the stock represented meetings shall govern
ing diminishing capital stock Of The COMPANY or or
s emG%sTsed u he hh sse2l Of the &C. Of Che
9r work. pp3c improvements and uyp
ing in their own right for others least three
b Ga o. we s,oek Of t1e Company in order take valid
holders and at all elections, minority those present and
represented shall govern
ARTICLE XIV.
me PRESIDENT and Directors shall have power make all by
hold receive purchase and convey under The eorpo
sary Tor he construction rera or a @ raa
heylnpelore described with many tracks they may
to make all necessary for purposes Aforesaid to
and steamboats, ain equipments de med by them Necessary
or useful for the purposes Of the Company and general TO
charter Including the fixing and collecting tolls for Transport
ARTICLE XIV.
at 81 KS sna nave power g appoint all officers and
tle luelF compensation ana them
al pleasure may borrow and issue therefor bonds notes
or other obligations such such conditions rs il
secure The payment thereof
ARTICLE XVI
stated annual meeting Of The stockholders sh be held one
week beoe the election Of Directors to receive the report Of
tie condition Ct lie affairs al beb a ,Ur te SH .
ment Of The financial and other affairs Company shall be
oee Besides ths meeting. the President Directors may
any time on he written W. % pc 'hel5 DUTY at
Que N o ne stock Of the COMPANY, call meeting the
nterest Of The Company An meetings Of sto khoders shall
beans. IL 'n0 ''S o. Ne" or-
ARTICLE XVII.
9 DOCS o shS be KEPT IN The Offices Of the Company
on ~ 81 itock shall be binding the Company until
ARTICLE XVIII.
ne b9ard Oh Directors shall be authorized to specially
ss @g Pqy Y. IN whole in part in Che stock q e
Company shall have been exhausted.
ARTICLE XIX.
, ~ y WI oe necessary TO enter into arrangements
Ness Emile LaSere and j. Beniamn are beTeb teg Sgs
or 10th Of Sd AMEN ' for s%e to with
amendments AID changes in said grants may Judi
interests OF this Company. {
ARTICLE Xxx.
A. 9s SSpgoh o. The charter whenever the dissolution
shall be elected by the stockholders whose duty
md e9anet rs % r qadaton on such terms ma
FOLDERS TeaI snni oe deemined by meeting Of stock
expiration OF The present charter majority Of the oekudes
p amount and number shah desire to renew the sane far
qer term me stockholders dissenting from sHch renewal
h be bouut t0anser their 10 those desiring me re-
hosen for that purpose - = 'if mummy
New Orlea July 30 1851
kmie LaSee Ffffv shares
John VI. Bell ..... p ~. s,srss
J. W. Burbridpe Fii,ss $500
j. l.. Warner. my sbSrss
lidnel g. Leyy....,........ Fin, shares
- 81, ~ FIFTY shares.
=
Z llred Tenn pro- Emile IaSere. Fifty shares
T. A. Hafgous D