New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-06-25

d,ions of sail known The Gsray and sloo grants
according lie terms and conditions Of ad grants and
admit such per
stock upon the and conditions hereinafter provided
ARTICLE I'LL
The capital of Company shall be ten millions Of
dollars divided into shares of hundred doarseach which
$4,000 shres or eight millions Of dollars shall be subscribed
and paid for as hereinafter provided
paid stock and delivered the trustees who now hold
he title 10 said Garay and Slo9 grants under the deed
representing the rights Of + p Feleonnet nov holder
Government.
100000 shares.
Lists Of subscriptions shall be opened at the times and places
anS places Is lie pos NAV su + SqS5 70
much Of said eight millions cash stock may
after deducting the subscriptions sign
charter
ARTICLE v.
The payments stock subscribed and TO
be subscribed aforesaid follows per at the
time OF sabscbng ten per cent in sixty days n reaer
for by the Direction not exceedng ZEN per cent
each intervals Of less than sixty days Calls
payments Of not less than sixty
days in at least TWO published in New Orleans
ARTICLE vi.
the conveyance Company Trustees OF the
said rights in said aay and soo grants with
said deed Of trust the Board Of Directors shall to
for the purposes of said and aid stock shah
said said Board Directors shall further sne 10
said Trustees for the pspose Of said trust the eight per cent
Thai portion Of said bonds which under he of aid
apdsS the so grant Shall be @ 20 se
satisfaction o. such debts ana liabilities a. to the parties to
convey the the exercise OF their uncontrolled
stood Company payment Of no debt what
Sever oy any COMPANY peI-on or persons under
eighth article Of this charter.
ARTICLE VII.
dividend shall declared before the railroad Is com
pleted The Company shall not derive net revenue greater
than Is per from It's tolls whenever receipts from
pe cent per PpSa there shall 5e atab d ian az 81 10
tolls keep the dividends down 10 per per
This Article shall not impose ans limitation on the amount Of
that the may from sales leases of
poration ofireght and passengers.
ARTICLE VIII.
The hundred advanced by F. p Falcon.
BY lie Company in bonds on such terms as may be agreed
and the Company viii reimburse itself of The share Of
the Mexican Cover nment in the net profits provided ia said
ARTICLE TX.
the city Orleans which shall forever be and remain lis
domc by nine Directors Of whom at least aa be per
quorum The Directors shall elect President Vice Presi
animal eIeeons al al IA d VIZ Dgwse ans
Of stockholders be given by proxy
each share shall be entitled Legal service Of ca
person eto his address al the office Of the COM
pany, in the hands Of any Of its officers.
ARTICLE X.
Emile Lssere, John NJ Bell, Alfred Penn W E. starke
Lionel Levy, J. Warner W Burbridge p o. Hebert
Monday May 1855 The elections shall be
annual and each subsequent Board shall be elected
duties Monday May following No one shall be
eligible Director unless he IS shares stock.
ARTICLE xI.
failure elect Directors not dissolve the corporation
but the Board in office shall continue the functions
meetings Of stockholders shall be given by publication fifteen
leans $50 u ~" VI
ARTICLE XII.
case Of failure the part Of subscriber the in
after ten days advertisement notice in writing, forfeit tie
such previous notice advertisements compel payment by
sn and no stoekheldcr shall be permitted whilst in
ARTICLE XIII.
At all meetings stockholders and at all elections ma
except that for purpose Of nereas
ing o. the capital stock Of the Company for
Legislature Of Louisiana entitled organization
approved IAN 1855 shall be Composed Of persons hold
ohs the stock Of the Company G IN o AXE e valid h, aSd
binding action in The premises at all other meetings of stock
represented shall govern.
ARTICLE XIV.
The President Directors shall have power to make all by
laws necessary proper aud regular transaction or bn
to hold receive purchase and convey corpo
say Tor the construction repair or Of the roads
necessary determine the line aud the roads and
70 make all necessary contracts for the Aforesaid
purchase ali materials machines vehicles teams ships vessels
and steamboats, and al equipments de- med by them
eharer fixing collecting Of Tolls Tor trsnspor
/ taion of passengers, freight aud mails.
ARTICLE Ky.
The Directors shall have sppont all officers aud
pleasure borrow and issue therefor bonds
deem best and mortgage the property of the Company
ARTICLE XVI.
stated annual meeting the shall be held one
week before the election of Directors report
into the condition Of the affairs which meeting full state
msn me financial and other affairs Of the Company shall be
laid before the meeting by the President and Directors then in
office Resides this meeting the President AMI Directors may
lime the written reqison of stockholders representing
81 me stock Of the Company TO call meeting of the
interest Of the Company; All meetings OF stockholders
leans '''' 's" VI
ARTICLE XVII.
ceSea oes shall 81 issued 70 Is ne go1 aP
transfer stock shall be binding on the Company until made
! ARTICLE XVIII
The Board Of Directors shall
for work. labor materials effects to be furnished 10
the Company pay able in whole or in part in the the
Company shall have been exhausted.
ARTICLE XIX.
As will be necessary some arrangements with
the Government Of Mexico and that of the United State ,
Messr Emile Lasere and j. P Benjamin heieby made The
either both of said Governments for notifications
ou for securing full and perfect po.ecen for tie rights md
interests Of this Company.
AT the expiration Of the charter the dissolution
Of the corporation = al render is icuiasion three
shall be TO take possession Of The property Of the Company
ia such as determined by meetng Of stock
holders regularly convened for that purpose and y the
expiration of the charter majority the
in amount and number shah desire TO renew the
boua transfer their stock those desiring he re
newa at is fair value to be affixed by appraisers mutually
New orleans, July s.. 1851
Emile LaSere ......s.....,E Fifty shares.
John NJ Bell. ...-..s...sssss..-..- kitT shares.
J. w, Burbrdge. ...,...,..-,...... Fifty shares.
L. Warner. -. Fiftv sharea