New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-11-12

shall be appropriated as toIOWbt VIE:
5000 shares eight millions dollars shall subscribed
and paid for as hereinafter provided:
paid stock. and delivered g the trustees who now bold
ff ss e la T ad G9 qe5 a s 9eSe
representing the rights of + p Fsconnet now holder
Government.
100000 shares.
ARTICLE ~.
of subscriptions shall opened the times and places
required by the terms Of said grants and at such other times
Of said eight millions Of cash stock may
after deductng the subscriptions Of those who sign his
charter.
The payments to be cash stock subscribed and to
Of subscribing; per cent in sixty days tn reafter
s ae dg a no the I q ead
each nor a intervals Of es5 than sixty day Calls for stock
days in at least two in New Orleans
ARTICLE VI.
On the conveyance this Company by said Trustees the
s@d ghts n St @f5 sa SgS gn = VIII
Trustees the Aforesaid millions dollars Of full paid stock
e 9 IN s dap5 ~ b f an 81 s q
said Trustees for the purposes Of said the eight per
bonds the Company million Of dollars pay able
That portion of said bonds which under the provisions of said
trust is he used for the payment Of the debts and liabilities
contracted urder the soo grant shall be appropriated the
whom said trustees by the terms Of said trust required to
dscrrt5n NAV mink proper Id nav Ii being distinctly nnaer
stood that this Company assumes the Of debt what
either said Sooor Gaay grant except proydedn the
eighth article Of this charter.
ARTICLE VII.
No dividend shall be declared before the railroad Is
peted The Company shall derive net greater
Than 10 Peg cent 9m " 1a ana wfmeyeT me
the road the payment Of running expenses and dividend Of IS
tolls keep the dividends down 10 Is
This altice shall impose any limitation on the amount
its lands Of revenue oherthan tolls for the
portation ofiTeight and passengers.
ARTICLE VIII.
The six hundred thousand dollars by F. P Falcon
by the Company bonds on as may be agreed
and the Company will reimburse itself of the share Of
Sloo grant.
ARTICLE TX.
The business of the Company shall conducted atits office
the city Of New Orleans which shall forever be and remain m
domici by nine Directors Of whom at least shall be
quorum. The Directors shall elect President and Vice Pres
dent of their body and shall have power elect Direct
administrations Aaleectons Directors meetings
each share shall be entitled 10 one vote Legal service Of eta
ton and all process against the Company may be made the
pany, in the hands Of any of its officers
ARTICLE x.
Emile Lasere, John NJ Bell, Alfred Penn, ". E starke
Duncan + Kenner shall compose the Board Of Direct
ors until the 5 Monday in May 858 The elections shall be
Monday Of April Of each year and snte the discharge Of is
eligible Director unless owns25 shares Of stock
ARTICLE XI.
failure to elect Directors shall dissolve the corporation
until Board be elected All notices of election aud
meetings Of stockholders shall be given by publication fifteen
leans.
ARTICLE XII.
In Of failure the part any subscriber pay the
samen his stock required the Board of Directors may
after days advertisement in writing forfeit tie
and sell Tor the benefit of the Company may with
such previous notice Or Advertisements compel payment by
default ''s'''~', '.' y ps'','s '.s "'-'ls'
ARTICLE XIII.
Aa meetings Of the stockholders md qualifications,
oriy the stock represented such meetings shall govern
except that such meetings called for the purpose ncrea
ofthe purposes enumerated in the fifth section Of the Thu
Legislature Of Louisiana entitled Anact for the organization
of corporations for workso pubic improvements and utility
approved March l4h 1855 shall be composed OF hold
fourhs of the stock of the Company order ake valid
binding action in the premises all other meetings of stock
holders and at all elections, majority Of those present
represented shall govern
ARTICLE XIV.
The President and Directors shall have power all by
laws necessary for the proper and regular transaction of bust
hold receive purchase and convey under the cnrpo
sary construction repair manlenanceo the road
heenbefore described with many tracks they deem
puTchase Mi materials machnes vehicles teams ships vessel
and scamboats all equipments med by them necessary
useful for the purposes Of the Company and in general to Dc
charter ncHdng The fixing collecting tolls for transpor
tation ofp4ssengers freghtand mails.
The Directors shall have appoint all officers and ser
wants Of the Company fix their and remove then
at pleasure may borrow money and issue therefor bonds note
other ObEaOnsat such terms and such conditions
secure the pay ment thereof.
ARTICLE XVI.
stated annual meeting Of the stockholders shall be held
the last year, operations ana business and for the examination
men Of The financial and other affairs Of the Company shah b.
laid before the meeting by the President and Directors then
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