New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-02-24

ARTICLE ".

Of the sloo grant under the decree Of the Mexican
Government
100000 shares.
ARTICLE ".
Lists of subscriptions shall opened times and places
required by Of grants such other times
and places the Directors determine subscription
after deducng the subscriptions of those who sign this
ARTICLE V.
The payments be subscribed and to
be subscribed aforesaid oows per the
per ninety days remainder as called
each at intervals Of ess than sixty days Gals o oeE
payments shah be made by advertisements less sixty
ARTICLE VI.
On the conveyance this Company by Trustees Of the
said rights said Gsrey and soo grants with
Trustees the Aforesaid millions Of dollars paid stock
Tor M Of sad and Sd stock shall Be eons
said conveyance raid Board Of Directors shall
bonds Of the Company for one million Of dollars psyabe
That portion Of ssa bonds which under the provisions Of sd
contracted under the sloo grant shall be appropriated the
whom are by Of said trust required 10
convey the same in the exercise of their sole and uncontrolled
Stood that this Company the debt what
either the said soo aay grant, as IS provided IN Se
eighth article Of this charter.
ARTICLE VII.
No dividend shall be declared before railroad is com.
peted The Company shall derive revenue greater
than per from its tolls and whenever the receipts from
peT p here b @ ab pug a q 10
tolls keep the dividends down to Is per
mum ut most
dividends that the Company declare from
its lands of revenue other than tolls for the
poration of freight and passengers.
ARTICLE VIII.
The six hundred thousand dollars advanced by Falcon
by the Company in it's bonds such may agreed
on and the Company viii reimburse itself of The share Of
the Mexican in the net profits provided in said
sloo grant.
The of Company conducted at its Office in
the city of New Orleans which shall remain
domici by nine Directors of whom shall per
quorum The shall elect and Vice Pres
ors to supply vacancies that in he between he
annual elections AT all elections for Directors oil meetings
each vote Legal service Of eita
Ta sha m or y bs e Of he oG Come s
pany in the hands OF any of its officers.
ARTICLE X.
F%s 1 Sg 9 Rsne R A. A Sb RP1
and Duncan F. Kenner shall the first Board of Direct
annual be elected on the third
Monday Of AP sSR year SaS s1sr on the cSaIg Of
eligible Director unless he owns IS shares of stock
ARTICLE xI.
failure to elect Directors shall dissolve the corporation
but the Board in office shall continue the its functions
until Board can be elected All notices Of election and Of
leans.
ARTICLE XII.
In of failure the subscriber pay the
stamens on his stock required the Board Of Directors
and sell for the benefit of the Company may, with
such previous notice advertisement
default ''''''N '' - p'''1''''1 WV "'-''''
ARTICLE XIII.
At all meetings stockholders and OF all elections ma
jory of the stock represented such meetings shall
except seSh etgs are called o me purpose Of @
the enumerated in the fifth section of the act of the
corporations works public improvements and utility
approved March l4th 1855 shall be composed of hold
oarhs the stock the Company ID order 10 take valid and
binding action in the premises at all other meetings OF stock
holders and all elections majority of those and
ARTICLE XIV.
President Directors shall have power all by
laws necessary for the proper and regular transaction Of bust
name any properly or personal any thing
for the construction repair maintenance OF the roads
determine the line and of the roads and
purchase ali materials machines vehicles teams ships vessels
and steamboats, and all equipments defined by them necessary
or useful for the purposes Of the Company and in general to Dc
every thing and effect The objects Of this
| taIion of passengers, freight and mails
| ARTICLE XIV.
van Of S nave S pd Sed ss
pleasure borrow and issue therefor boRd notes
other obligations at such terms and such conditions
may deem best and the property of the Company
secure the payment thereof.
| ARTICLE XVI.
stated annual meeting of the stockholders shall be held
week before the election Of Directors to receive the report
/
into the condition Of the affairs which meeting full state
ment Of the financial and other affairs of the Company shall b
laid before the meeting by the President and Directors then II
office Besides this meeting the President and Directors
time the written requisiton of representing
one-h of the stock the Company, call meeting Of thu
stockholders take into consideration matters affecting TIT
interest of the Company All meetings of stockholders shall
held at the Office of the Company in the city OF New Or
| leans
| ARTICLE XVII.
Stock books shall be kept in the offices Of the Company
Certificates of stock shall be issued the Shareholders and
transfer stock shall be binding the Company until mad
| on its stock books.
1 ARTICLE XVIII
The Board Of Directors shall be contract specially
the Company payable in whole In in the stock Of thu
Company until the whole amount Of the capital stock OF thu
Company shall have been exhausted
| ARTICLE XIX.
As It will be enter into arrangements witt
the Government Mexico, and that of the UniRd
Messrs Emile LaSeTe aud j. p Benjamin hereby made tn
joint of the Company, with full power TO witt
either both of said Governments for such notifications
amendments changes In said judi
cou for securing full and perfect protection for the rights
interests Of this Company.
| ARTICLE Xxx.
the expiration charter whenever the dssoluto
OF the corporation shall render its liquidation necessary thre
commissioners shall be elected by the stockholders whose dut
II shall be take possession Of the property OF the Company
IN such shall he determined by meeting Of stoch
holders regularly convened for that purpose It, III
expiration of the present charter majority Of the sockhode
in and number shall desire the for
shall their those desiring the
newal at its fair value, to be affixed by appraisers mutual
chosen for that purpose.
New Orleans, July 30, 1851