New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-06-02

river Bay Of Venio according
enjoying and Conducting he nasigsiio Of aid
river according the terms and Of sao and
assigns hereafter subscribe and pay FOR
stock the terms and conditions hereinafter provided.
ARTICLE III.
The capital stock said Company shall be ten millions of
divided into shares Of hundred dollars each which
$1,000 eight millions Of dollars shall be subscribed
:, 49, and paid for a. hereinafter provided:
paid stock and delivered 70 the ru.ees who hold
Of trust executed BY r. A. Hsrgoas for himself and a
representing the rights of p r. Fsconnet nos holder
Government.
100000 shares.
Lists Of subscriptions opened and places
required by the terms Of said grants and such other times
much Of said eight millions Of cash may
dedueDg the subscriptions of those who sign this
ARTICLE v.
The payments subscribed and to
time Of Subscribing cent in sixty days eafter
By The Direction nstslmens not exceeding ten per cent
EACH at intervals Of les. than sixty days Calls for
days In at least two published in New Orleans.
ARTICLE VI.
the conveyance Company by said Trustees Of the
aa s e Board q sGS c1 mali sa &c @
Trustees the Aforesaid millions Of dollars paid
cred in ss I paid IL cash and he execution
said for the purposes Of said trust The eight per cent
bonds Company one million Of dollars payable
trust payment Of the debts and liabilities
~ such he s chill be a. 20 s e. the
whom said Trustees are by the terms Of said trust required
discretion may proper pay: being distinctly under
stood that this Company assumes the Of debt what
either the said sooor Gsray grant, except
eighth article Of this charter
ARTICLE VII.
No ba declarad hafora
petsd The Company shall NOT derive net greater
exceed amount required for the maintenance Of
the road the payment Of running expenses dividend Is
tolls 50 keep the dividends down TO Is cent
This aice shall impose any Limitation on the amour. of
that The may declare from sales leases
portsticn Of freight and passengers.
ARTICLE VIII.
The hundred dollars yanced BY r. r. Falcon
by the Company in i bonds on such terms IS NAV be agreed
and the Company will reimburse itself Of Tho
Sloo grant.
ARTICLE TX.
The business the Company shall be conducted nj It's office
the city of New Orleans which shall be
domic by nine Directors Of whom least shall per
The Directors elect den ana s Vice PTe
dent out OF their body anS shall have to elect Direct
elections AT all elections Directors
each share entitled one vote Legal service Of ciis
on and al against he Company may Be made the
pany in the hands of any of its Officers.
ARTICLE x.
Emile Lasere, John NJ Bell, Alfred Penn. W. E. starke
Lionel Q. Levy, j. L. Warner J. W. Burbridge p Heber
aud Duncan Kenner sh. compose the FIRST Board of Direct
annual each subsequent elected on the third
Monday Of April Of each and the discharge Of
eligible Director unless he owns Is shares Of steck
ARTICLE xI.
but The board in office shall Continue lie Of Tneon
until new Board can be elected An notices Of election and of
in advance, least Of the newspapers New Or
leans.
failure the part any subscriber to pay the In
salnents on his stock required the Board Directors
stock and sell it for the benefit of Company may with
out such previous notice or payment by
dsau na' no '''na'' 'n" De TO vote whilst IN
ARTICLE XIII.
meetings stockholders at all elections ma
oy Of the stock represented at such meetings shall govern
except that such ngs called for the purpose Of
Of purposes in The h section q tie act Of he
iegssnrs Of Louisiana entitled &C. for the
approved March h 1855 shall be composed persons hold
osrh Of The stock Of the IL order 70 take valid ad
binding action in the premises at al other meetings Of
ARTICLE XIV.
The President and Directors shah have all by
laws for the aud regular transaction
hold receive purchase and convey
oG s pr T q liz
70 T Ss s ss they %s
make all contracts for the Aforesaid
and steamboats, and all equipments deemed them
useful for the purposes Of the Company and in general
charter including the fixing and collecting of tolls for
tation Of passengers, freight and mails
ARTICLE XIV.
The Directors shall have poyeto appoint all officers and
may borrow and issue tbareo Sa"ds
other obligations at such terms and such conditions
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
the last years operations and business and for the examination
men Of The financial and other affairs Of the COMPANY shall he
laid before the meeting By the P5edeqi and Dsetos then
call others when they think and shall be their duty
Of the stock Of he 10 cali meetne s
stockholders into any affecting
e held the Office Of the Company the city o. New Or
leans.
Stack books shall be kept in the offices Of the Company
% q stock shall al Sn to The and %
on it's stock books
The Board
work labor Materials lands and effects be furnished
uS he whole amount Of he eaps stock Of N
Company shall have been exhausted.
ARTICLE XIX.
ne e. Mexico and that e. the United ssts
LESSEE iaS IF ~, anu ~ i,, sii n.s neeps naas ~
either both Of said Governments for such modification,
amendments and changes 10 said grants judi
securing full and perfect protection for the rights
interests of this Company.
ARTICLE Xxx.
Atthe expiration the charter dssouiio
corporation shall render its liquidation necessary hrt
shall be elected by the soekhodes whose
It shall he take possession Of the property of the Copan
conduct its final liquidation such
shall be determined by meeting of
holders regularly convened for that purpose and H. at
expiration Of the present charter majority the
| in number shall desire to the
further term the stockholders dissenting from such
their desiring
new at its fair value to be affixed by appraisers mutual
| chosen for that purpose.
New Orleaus, July 80, 1851. aas
Emile LaSere. Fifty shares.
John N. Bell. Fifty shares.
J. w. Bnrbridge. .................. Fifty shares.
j. l.. Warner. Fifty shares.
Lionel @. Levy .................... Fifty shares.
W +. Starke.......................F Fifty shares.
Duncan r. Kenner.. Fifty shares
| Alfred Fem per pro. Emile LaSere Fifty shares.
John Sdell, per pro- Emile LaSere. Fifty shares
7. A, Hsrgoua,
4 Per pro. J. p. Benjamin. One hundred shsr
J. r benjamin Fifty shares.
y D. Denegre.. fifty shares
T. o. Hchert.- Fifty shares.
The undersigned Recorder Of Mortgages IN and for the
and city Of Nav Orleans eertes that the within charter
recorded this dag In bis Office In book society Nod folio A.
Il ~