New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-23
CHARTER,
MIssI ssIPPl AND MEXICAN GULF
SHIP CANAL COMPANY.

CTATE OF LOITIsIANA-PARISH OF OR.
- leans-City OF New Orleans BE it known that
Thousand eight hundred and sixty eight and in the
independence OF the United States of America the
ninety-third, before me, Henry O. Dibbe, Notary
Public in and for the parish and city Of New Or
leans state Of louisiana duly commissioned and
Hereinafter named and undersigned, personally
hereunto subscribed who ssveraiiy declared that
GyalIng themselves of the provisions of the statues
ton Of corporations tor works OF public improve
ment and utility, they have covenanted and agreed
aud do by these presents covenant, agree and bind
themselves into and constitute corporation for the
objects and purposes, and under the stipulahous
ard regulations following, viz;
ARTICLE FIRST,
The name Of the corporation shall be The Mis-
sissppi and Mexican Gulf Ship Canal Company"
President of the company shall be the officer upon
whom citation may be served.
ARTICLE SECOND.
Tire object and purposes of the corporation are to
open and maintain a navigabe canal between the
waters Of the Mississippi river and those Of the
ranehse granted BY the State of Louisiana to Rich
ard A. Stewart, mis- associates and assigns by act
ARTICLE THIRD.
The capital stock Of the company is hereby fred
Thousand shares of thousand dollars each, pay
able in sueh manner aud at such times as the Board
o. Directors may determine.
ARTICLE FOURTH.
All powers Of the corporation shall be vested in q
Board Of Directors, consisting of six persons, who
On the first day Of Ju.e, 1883 and annually there.
after an election for said Board of six Directors sha
election previous notice OF fifteen days shall be given
IN two newspapers published in the city of New Or
each share voted uponl shall be sufficient to elect
said Directors, who at the first meeting after their
election shall choose one Of their number for PTesi-
dent Of the Board well as Of the corporation.
ARTICLE FIFTH.
The President shall preside at all meetings of the
ABSENCE or INABILITY to act the Board Of Directors
shall elect one of their number President pro tenn,
Sf PFesdent The failure to elect directors as SfoTe
said snail dissolve the said corporation, but the
election is held which notice shall be given as above
provided for, and shall continue till an election be
D''0' ARTICLE SIXTH.
The Board of Directors shall appoint Secretary,
Treasurer, aud all such Clerks and Agents as may
be necessary; may remove the same at plessurei
tx the salaries of all officers of the corporation, and
any Of sad ofee and agents, and shall make and
establish such bylaws for the pEoper. mansgemene
as may be necessary and proper. A majority of the
said Board shall be necessary to form quorum, as
shall also have power to ill any vacancies that may
therein by death, absence, resignation, or any
ARTICLE SEVENTH.
Each shareholder at all meetings for the election
OF Directors or other purposes shall be entitled. d
recy by proxy to one vote for each share OF stock
ARTICLE EIGHTH.
All transfers of stock shall he recorded at the Office
OF said company book Of transfer to be kept for
that purposei the new stockholder Dlnulng himself
herself by the mere fact OF recording such trans
fer to abide by all the terms conditions and stipu-
lRtonB of this act and any and all the rules regula-
tions, or bylaws made and adopted in pursuance
thereof,
80, ARTICLE NINTH.
This corporation shall be and continue for and
during the term of twenty five years from and after
me date Of these presents and may organize for
business ss soon as twothrds OF is capital stock
sAAn nANs OeeH sNU70i'OeN III
ARTICLE TENTH.
The following named Stockholders viz: Jane
O. Moves William W, Howe, Cyrus Bussey, l.. j.
HjFby Thomas 81 Durant and Samuel L. Brown
VINO snail az their frst meeting elect one Of their
number as President. And the said Board and the
'1' N'''''' ARTICLE ELEVENTH.
The Board Of Directors may accept for the eOrpo-