New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-03-15
ARTICLE II.


r. a.
Of the soO grant under the decree Of the Mexican
Government.
100000 shares.
ARTICLE ".
Lists Of subscriptions shall be opened the times and places
required BY the terms Of said grants and at such other times
and places as The may determine for subscription %
80 much Of SAID eight millions OF cash stock as may remain
charter.
ARTICLE V.
The payments be made subscribed
be subscribed aforesaid follows per cent the
time of subscribing in sixty days ih reaer
per ninety days thereafter and the remainder called
each intervals Of than sixty days stock
shall be made by advertisements Of less than sixty
days IN at least two newspapers published in New Orleans
ARTICLE W.
On the conveyance Company by said
said rights in said tasy and Soo grants in with
Trustees the Aforesaid millions Of dollars paid stock
'so he e sad S on R es
said raid Board of Directors shall further issue
bonds the Company million Of dollars payabew
Thai 70 n Of s sf 9Gd SS qae The s 5 e d
contracted under the soo grant shall be appropriated 70 the
whom said Trustees the said required
convey the in the exercise of their sole and uncontrolled
Stood that this Company the of debt what
either said soo Garay grant except provided in the
eighth article Of this charter.
ARTICLE VII.
No dividend shall be declared before the railroad
pleted. The Company shall derive greater
than Is cent from its tolls and whenever the receipts from
tolls shall exceed the required for the Of
the road the Of running expenses and dividend of ID
cent annum there shall be ratabe dminuon Of the
tolls so As TO keep the dividends down Is cent
dividends that the Company declare sales Of
its lands Of otherhan tolls for the
portation of freight and passengers.
ARTICLE VIII.
The six hundred Thousand dollars advanced by p Falcon
by the ompany bonds on such terms as may be agreed
on ana me VIII Temhnlse Itself out OF ne share 81
soo grant.
ARTICLE TX.
city Orleans which shall forever be and remain it's
domie by nine Directors Of whom at least shall be
quorum The Directors shall elect President and Vice Pres
supply the intervals between the
At all elections for Directors and all meetings
each shall be entitled Legal OF
President so h q the oe Of Inc oc Come 5e
pany, in the hands OF any of its officers.
ARTICLE Y.
Emile LaSere, John NJ. Bell Alfred Penn, W. E. starlse
Duncan T. Kenner sh compose the first Board of Direct
annual subsequent the third
M9d D 81 @ N fsSh es a9 a 9 rs al
eligible as Director unless owns Is shares Of stock
ARTICLE XII
failure to elect Directors shall not dissolve the corporation
but the Board in office shall continue the exercise of its functions
until new oada can DC e.eed Al nouees OF election sTd Of
deans
ARTICLE XII.
failure the part any subscriber pay
saments his stock required the Board Directors
after days advertisement notice in writing forfeit the
stock and sell it for the benefit of the Company may with
previous advertisement compel payment by
default.
At all meetings stockholders elections
jory Of the stock represented at such meetings shall
ns o diminishing hs epta stock Of the Company or for
Of the purposes enumerated in the Md section OF the act of the
Corporations pubic improvements utility
approved March 4h 1855 shall be composed OF hold
in their right for others, least three
fourths stock OF Company in order take valid and
binding premises all meetings of
holders all elections majority of those present and
ARTICLE XIV.
The President and Directors shall have power all by
laws necessary for the proper and regular transaction of bust
rate any property real or personal do thing
Tor the construction repair of the roads
necessary to the line of roads
purchase ali @as ysbe shps
and steamboats, aud all equipments by them necessary
thing necessary and effect the objects of ,h'
taion Of passengers, freight and mails.
ARTICLE XIV.
The Directors shall have appoint all officers and
the Company fix their
pleasure borrow and issue therefor boRd note
may deem best and mortgage the properly of the Company
ARTICLE XVI.
stated annual meeting of the stockholders shall be held ont
week before the election of Directors to receive the report
the last operations and business and for the examination
into the condition of the affairs a. which meeting full state
OF the financial and other affairs of the Company shall b.
office Besides this the President Directors ma!
call others when they think proper and shall be their duty
oneh Of the stock OF the Company, to call meeting of TIT
Of Company All meetings of ,khoders shal
held at the office of the Company in the city Of New Or
| leans.
ARTICLE XVII.
STICK books shall be kept in the offices Of the Company
Certificates of stock shall be issued the Shareholders
transfer OF stock shall be binding on the Company until mad
| on its stock books.
ARTICLE xyIII
The Board of Directors shall be authorized contract special
for work labor Materials lands and effects be furnished
Company, until the whole capital tn
| Company shall have been exhausted
| ARTICLE XIX.
As will into arrangements wit
the Government Of Mexico snd that Of the United State
Messr Emile Laere and j. p Benjamin hereby made III
either Governments for such modification
amendments and changes in snd most jud
interests of this Company.
ARTICLE Xxx.
Al the expiration of the charter whenever the dissouto
of the corporation sha render its liquidation necessary hr,
commissioners shall be elected by the stockholders whose du
shall be to take possession Of the property of the Complain
and conduct business to final Liquidation such terms ar
in such shall be determined by meeting of stool
holders, regularly convened for that purpose and H. at
expiration of the charter majority of the stakeholder
in number, shall desire the for
further the ockhoders dissenting from such
shall be bound transfer their stock those desiring the
newa at its fair value, TO be affixed by appraisers mutual
| chosen for that purpose.
Emile lsaSere Fifty shares.
yoh1 NJ Bell .;'''''''.'..'''''' Ely Ely shares
J. l.. Warner. Fifty shares.
Lionel y Levy Fiity shares.
Duncan Y. Kenner ........... -. Fifty shares.
Alfred Penn per pro. Emile LaSere .Fifty shares.
John Slidel, per pro- Emile Lasere. Fifty shares.