New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-11-05

dons Of said grants known as the aay and Soo grants and
river according the and conditions said grants and
admit under this charter such per
stock upon the conditions hereinafter provided
ARTICLE ILL.,
The capital Of Company shall be millions of
dollars divided into shares Of hundred dollars each which
shall be appropriated follows, viz:
$1,000 shares eight millions of dollars shall be subscribed
- H., and paid for a. hereinafter provided
10000 shHe millions Of dollars shall be Issued full
paid stock and delivered the trustees Who hold
the title to said 6aray and Soo grants under the deed
representing the rights Of F. P. Fsiconnet, now holder
Of the Sloo grant under the decree of the Mexican
Government, -..
100000 shares.
ARTICLE w.
Lists Of subscriptions shall be opened the times and places
required by The Of said grants and such other times
eight millions of cash stock may
after deducng the subscriptions Of those who sign this
ARTICLE V.
The payments be made the cash stock subscribed
r. ~ e Tn a ct # Ii ts PR At ae
per ninety days thereaftsr and remainder called
III 10 ,nade nv nd II iot 1ss ttsa 49,
days In at least two in New Orleans
ARTICLE VI.
On the conveyance to this Company by said Trustees Of the
said rghtsn said Gaay and Soo grants in accordance with
the aforesaid two millions Of dollars Of full paid stock
Ped IL ali as if psd Il eaE aid On i he executions
said conveyance ad Board of Directors shall further issue
TG5 o g @ G5 sbieb Under s DT6gas oij
trnsf 10 he the payment the and liabilities
contracted urder the Soo grant snail be appropriated TO the
satisfaction Of such debts and liabilities as to the parties
whom said Trustees by the terms Of said trust required
convey the same in the exercise OF their sole and uncontrolled
stood that This Company the payment Of debt what
either the soo aTay grant except provided in the
eighth article Of this charter.
ARTICLE VII.
Eodfvend shall railroa1 is
peted The Company shall not derive net greater
than il per cent from its tolls and whenever from
tolls shall exceed the amount required or t maintenance Of
the road the payment Of running expenses and dividend Of Is
tolls keep the dividends down 10 Is per cent
This tce shall not impose any limitation on the amount of
dividends that te omPEy may from ee or leases Of
paration oftrsight and passengers
ARTICLE VIII
The six hundred thousand dollars advanced by F P Falcon,
to the Mexican Government for the soo grant shall be paid
on and he Company Will reimburse itself Of The
Sioo grant.
ARTICLE TX,
The business of Company shall be conducted aits
domici by nine Directors whom least shall per
quorum The Directors shall elect President and Vice Pre8
of their body and shall have POweto elect Direct
annual elections aaieecons for Directors and ameetnes
each share Shall be entitled Legal service Of cta
ton nd all process against The Company may be made the
pany, in the hands of any Of its officers.
ARTICLE K.
Emile I.asere, John NJ. BELL Alfred Penn, W. E starke
Duncan 1euuer shel compose the first Board Of Direct
ofs until the rS M3naay ~ naS 6S me elections snail be
W f ETH s az % ' ,r ana erte S ~ IL e ~
5ties ~, he fst NGHia; Of Nav foo,rin M one bs m
eligible as Director unless Ii owns 25 shares of stock
ARTICLE X.
failure TO elect directors shall not dissolve the corporation
but the Board in qce shall continue the exercise functions
meetings Of stockholders shall be given BY pnbcatQg fifteen
feS y " ~ " - 600 49, " 'F"P " ''" VI
ARTICIE XII
7s s,i, -, 80, ~ C - - ,,,r % 49, ~ T.,
sAngn o., 'sSlocS H rFG"9eI e GSrG Pi my
elog Sg 3 @ i Seft of he Con'nanv m ts
out suGn pre- o ~ u an, 5 Pv PaS!gH y
defalt
ARTICLE XIII
At all meetings of the stockholders and elections ma
ority Of the stock represented such meetings shall govern
6s OF dmiang he eaS SICK 81 he Company Or FOR any
s engmssd The h @ qf the act of e
Of corporations for %orksof pubic improvements and utility
jig their right agents for others a least three
BHd action in he premises at ali other meetings Of stock
bnIdr md at ali elections majority of those resent nd
TspTe5ented sh all govern '''o
AN11oLh AI''
Inc resident ana DlFeGor' snS aaHG power az 0{
ness to hold receive purchase convey under copo
rate name any property personal duany thing
say for he construction repair maintenance roads
necessary to determine he line and location Of Tie roads and
10 make all necessary contracts for The purposes aforesaid 70
purchase all materials machines vehicles teams ships vessels
useful for the purposes Of the Company and in general do
every ming htGessE aa p9e ~ eTtG' w GolegS o. ls
charter hclndhE the ming anu Oh Tolls Tor tfehspof
tation OF passengers, freight aud m@ils'
ARTICLE XIV.
The Directors shall have powero appoint all officers and
Of the Company fix their compensation and them
at pleasure may borrow money and Issue bonds not9s
other obligations at such terms and on such cononsa as
secure the payment thereof
ARTICLE XVI