New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-03-22


and places the Directors determine for subscription
after dedue'ng the subscriptions of those who sign this
| charter.
The payments subscribed and to
be subserbed aforesaid folo~s per
in ninety day. thereafter; and the remainder
each intervals Of than sixty days for stock
payments shall be made by less sixty
days in at least pnbshe In New Orleans
| ARTICLE vi.
the conveyance this Company said
said rights in said Garey and Sloo IN accordance with
Trustees millions dollars paid stock
cred respects pad cash; execution Of
said conveyance ad Board OF directors shall further
bonds of the Company million Of dollars, yable
trns is payment the debts and liabilities
contracted u|der the Soo grant shall be appropriated the
whom said are BY the term. Of said tlu required TO
discretion may think proper to pay: it being distinctly under.
stood that this Company the Of debt
either said ray grant, except provided
eighth article Of this charter.
ARTICLE VII.
No dividend shall the railroad is com
peed The Company shall not derive net Ieverue greater
shall exceed the required maintenance Of
the road the payment Of running and dividend Of Is
tolls to keep the dividends down Is
This shall impose any Limitation amount Of
dividends that the Company may declare from sales leases
pOrtalOn of freight and passenpers
ARTICLE VIII
The six hundred thousand dollars dvaneed by r. p
Mexican Cove the sloo grant be pas
by the company in its bonds such terms be
the Mexican Cove nment in the net profits provided
Sloo grant
The business Of The Company shall Be conducted aits office
domc by nine Directors, Of whom least ssa be per
residents Of s.t ely -Four Directors .ha w. form
dent of their body and shall have elect
annual egcons At ali election. for Directors and at ali meeting
Of be given in person Or BY
ton and AL process against he Company may De made the
pany, in the hands Of any of its officers.
| ARTICLE K.
Emile Lasere, John NJ Bell, Alfred Penn, W E. starke
Kenner shall compose Of Direct
ors noi the first Monday in May ISIS The elections sh. b
Monday Of Of each yea and enter on the discharge Of il
eligible as Director unless owns Is shares of stock
ARTICLE xI
failure to elect directors shall dissolve the corporation
until Board can be elected All notices Of election aud
meetings of stockholders shall be given by publication fteeI
leans.
ARTICLE XII.
In failure on the part any subscriber to pay the in
salments his stock required the Board Of Directors may
and sell for The benefit of Company Of may
such previous notice advertisement compel payment b.
default.
ARTICLE XIII.
At all meetings the stockholders all elections
jority Of the stock represented such meetings shall
that such meetings called for the purpose of
diminishing the capital stock Of the Company
the enumerated in the 9Th section the Of tn
o sornoons or public .p ns sn
approved March 4h 1855 shall be composed persons hold
Of The stock o. the Company order 10 take valid an
holders and At all elections majority Of those present an
ARTICLE XIV.
md shalJn
laws necessary for the proper and rega transaction OF bust
rate name any property personal do any thing
Tor the construction repair of the road
necessary determine the line and loo alton of the roads
purchase materials machines vehicles teams ships vessel
and seamhoa aud all equipments de- med BY them
every thing and proper 70 effect the objects Of hi
taion of passengers, freight and mails
ARTICLE XIV.
The Directors shall have appoint all officers and
wants OF The Company fx their and remove then
at pleasure borrow money and issue therefor bonds note
other obligations at such terms and such cnndtious
deem hest and MORTGAGE the property of the Company
ARTICLE XVI.
stated Of the stockholders shall held
week before the election o. Directors receive the report
into the condition Of the affairs which meeting full stat
meeting by President
office Resides this meeting, the President and Directors
the written acquisition of stockholders representa-
stockholders take into ossideraion any matters affecting
the Company All meetings stockholders sha
held the office of the Company, in the city Of New
leans.
ARTICLE XVII.
STICK books shall be kept in the offices OF the Compan
Certificates Of stock shall be issued the shareholders
transfer of stock shall be binding the Company until
. | on its stock books.
a ARTICLE XVIII.
The Board Of Directors shall authorized special
for work. labor, materials lands aud effects furnished
the Company payable in whole part stock Of
Company until the whole amount Of the capital
Company shall have been exhausted.
) ARTICLE XIX.
As Il will be enter into arrangements
the Government Of Mexico and that of the United Stat
Messrs Emile aSere and j. r. Benjamin hereby made
joint agents Of the Company, with full power agree
either both of said Governments for such mod6cato
amendments and changes in said may u
for securing full and perfect protection for rights
Ia interests Of this Company.
ct ARTICLE Xxx.
At the expiration of the charter the dissout
Of the corporation shall render its liquidation necessary
commissioners shall be elected by the
it shall be to take possession the property the Compa
and conduct its business to hR liquidation, such
in such shall be determined by meeting OF
holders regularly convened for that purpose and H. at
expiration Of the present charter majority the sckholde
VI amount and number shall desire the same loi
further the stockholders dissenting from ssch
shall be bount TO transfer their stock those desiring the
news at Its fair value TO be affixed by appraisers mutaa