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


y eans-City of New oreans.-Be 1t known that
this Of July I tns year Of our L9Td one
Independence of the United States Of America the
Pubic, 10 and for the parish and city Il New or
leans state of Louisiana duly commissioned and
ana named and pssona
came and appeared the parties whose names
herr unto subscribed, who severaily declared that
availing themselves Of provisions of the statues
of the State Of Louisiana relative to the organza-
ment and utility, they have coyenanted and agreed
and do by the9 presents covenant, agree, and bind
themselves into and constitute corporation for the
objects and purpose, and under tne stipulatlons
and regulations following, WIS
ARTICLE FIRST,
The name Of the corporation shall be The Mis-.
sissippi and Mexican Gulf Ship Canal Company"
Its dom ell shall be the city Of New Orleans and the
whom citation may be served.
ARTICLE SECOND.
The object and purposes Of the corporation are to
open and maintain a navigable canal between the
waters of the Mississippi river and those of the
franchise granted by the State of Louisiana to Ricn
ard A. Stewart, his associates and assigns by act
1850 s. = '' " = ' '''''' "''''''1 - I'll 49,
ARTICLE THIRD
The capital ST ock of the company is hereby fixed
at two millions Of dollars, represented by Two
able in such manner and at such times as the Board
of Directors may determine.
ARTICLE FOURTH,
All powers OF the corporation shall be vested in A
Board of Directors consisting OF six persons, who
shalt be stockholders of the corporation.
after an election for said Board Of six Directors shall
be held at the Office OF the corporation, of which
election previous notice fifteen days shall be given
in newspapers published in the city Of New or.
leans. A plurality of votes icoupting ore vote for
each share voted upon, shall be sufficient to elect
said Directors, who al the first meeting after their
election snail choose one Of their number for Presi
dent of the Board as well as OF the corporation.
ARTICLE FIFTH
The President shall preside at ali meetings of the
said Board, or Of the corporation and in Of his
shall elect one Of their number President pro tenn,
who shall for the time being exercise the full powers
said shall not dissolve the said corporation but The
directors then in office shall no over until another
Rs sG i0r ana 'hAi continue ll an election be
ARTICLE SIXTH
The Board Of Directors shall appoint A Secratarv
Treasurer, and all such Clerks and Agents as NAV
be necessary may y, remove The same at pleasure
the amount Of security that shall be REQUIRED rom
any Of said ONCE and agents, and shall make and
and regulation Of the affairs Of the said corpoTation
as may be necessary and proper. majority Of the
also TO elect any officer thereof; and tine said Board
shall also, haye power 20 nil any vacancies that may
other cause.
ARTICLE SEVENTH.
Each shareholder at all meetings for the election
OF Directors or other purposes snail be entitled d
reot by proxy to vote for each share Of stock
held by him.
ARTICLE EIGHTH
All transfers Of stock shall he recorded at the asce
Il SAM 10 2e9S Fl STd5ass e be kept tog
or herself by the mere fact of recording such trans
fer to abide by all the terms conditions and stipu.
atons Of this ACT and any and all the rules, reepIa
1tho a or bylaws made and adopted in pursuance
ARTICLE NINTH.
This eOrpOratlDn shall he and ropti.,,o e..
during the term q twenty five years from and after
tne oase o. sness Fsssents and may organize for
snail have been subscribed tor
ARTICLE TESrH.
The FOLLOWING named Stoekaqlders viz: James
o. Moves, William W Howe, C5sus Bussey j, p
Highly, Thomas j. DuFant, and Samuel N RTo,1n
who shall a. their hrst meeting elect one 81 tbsi,
number as Preslasnt and ne SAID Board sad the
successors to be elected provided in article iourth
ARTICLE ELEVENTH.
The Board Of Directors may accept for the oorpo-
ration any power or privilege conferred on the cor
the same is framed, or by the adoption Of any new
see OF the Legsiature or by any act Of the United
ARTICLE TWELFrH
The liquidation of the affairs Of said corporation
ct the termnaton Of its charter or 4 sooner deter
BY thres StockhOders duly oieetsd BY majority in
amount Of the stoekho ders, a. meeting convened
two neWspapsra Published IA New Orleans The pc
ROD Of hquidation and the amount OF their e0mpen
nAtloq. IS also all other privileges to be conferred
upon said liQuidators. shall be hxed such manner
a. the said stockholders may at such general meet
ing ootermine
ARTICLE rHlRtEENTH
The nAmeso Of the Stockholders. their residences
and tne reepeotsge sharas held by each are for the
present declared to be such subscrbedato this
act and Opposite the names OF each respectively.
TINS done and passed in my ONCE, in New Orleans
aiores4id, IN the pfesence OF Zuinglius Mckay and
n NJ Dlb6s, witnesses. Of lawful age, residents OF
this city, who hereuqtQ subscribed their names with
the said partiesand me, Notary, after due reading
written.
signed JAMES o. MOVES,
rrraf. ". ", HOWE
CHRUS BUSSEY,
y. j. HIGBY,
l.ll #aar THOMAS .. DURANTA
IL as 3. l.. BROWN, =
Witnesses: zuRGLTUs McKkN aud a. n. DmsLu
HENRY c. DIBBLE, Notary Public
new Orieanas Jaly 9, 1853 yT oasS0d