The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-07-26
NAVIGATION IMpROV~a-,rv g.
CHAKTER.
STATE OF LOUISIANA, I
nh ~ Cftv ~ Nav Orleans.

STATE OF LOUISIANA
Parish and CITY Of New Orleans.
BE 1T KNowN thst on uis 18th Day OF Jul, IN the year
Lord thousand eight hundred and .xty eight she
u. Is @ c1. hDd Hero J notary puOe
!, for ne parish and city q New Orleans state ot Loul
4 the hns,es hersinafe PANIED and snde, g3d gsrsoa
y and appeared he several persons 9
6ssIfED STATES NAVIGATION iNPsovEMesr
Sis si,g ncopea 81 BY an act Sssssi Be ore me- notary on
h 1h Gay 81 SS SsS ss, anSs ss s ss Usvu
No Of act Of the Legislature Of the ate en
Is Of Public improvement usity" approved March
l4h n S. the requisite and Legal noses and pub
sor. 70 the StockI Of sAd Company hid made
and gwen general NEE ing Of me ssekh9S-rs Of ,Ad
h city 10th day July thousan sght hundred
and sixty eight for ~ P1gGs Of Of h sd A Used
before me- notary the h day Of june eighteen HUNDRED
S. sosE therein as also ihrssf ubs
apta stock subscribed or 10 said COMPANY agrssd sad as
Contrary should modified and changed 50 as to read as
ARTICLE FIRST.
The name and title Of said CoroorAton shall be TaE
UNITED STATES NAVIGATION INPNOvEMeN
SS p1.s5 T stae f %Sna process shall Is
served on the PIesidsni OF tie Corporation
ARTICLE SECOND.
The objects and purposes of said Corporation the
the bars aAd tie Irotsoton Of the leyees Of tue
ebss ns IF rivers and the removal q tidal b as The
of solid marine foundations Tor hght6o Uses and
and Application Of MeneO "OassOn de ksrn Improve
Tsntea EDWARD Msnieo BY the Kingdom q Grsa srsa
and by The Ueited states OF AIsre aud Il such oteet
means, machinery sPgar ,tus and Improvements as may
Be nV.si OF s % sRs o.
and working ON ru,on
The capital stock Of ts corporation Hereby axed At the
tbousano shares Of aud any dollars each Of
which Opehf viz Ten thou and sha,es reserved aud
for the PURPOSES expressed in he following article
The other one-haI thousand shares shall be sub
towit: The subscribers shall pay into the
hands Of the resident Gpon the com9ys org FOR
subscribed by them q he remaining tive hsodrsd and tsen
s OF SRS SSa ss y cent. - in every four
si sseE such cali By the Board Directors
s nv "soS1 Of each share via oss bundled md
s1 dollars and hy ents shal be psyrbl on demand
Of the sad cOmpanys ofsS6ls,Sn business upon thirty
DAYS notice, asthe Board Of Direct nsy require
But should Boara of Dreet.rs after years deem IL
make tu demands on the Stockhold
cred TO issue Cereates Of stock uy paid 20 ali such
who may have previously pad up all calls or de
No call shah at sny one time be made for NOE Twelve
ars ssia1ens Of Ten per cent And "a Sid any stock
holder TAIL or refuse 70 R.y any INST ca ed Tor q
may declare the stock OF such delinquent forfeited
All ND s eVsg SS S.a on said sSs h be
the Company the Bad OF Directors in their discretion,
the nquent subscribers they shs deem advisable
ARTICLE FOURTH.
or the ten thousand shares or one Of the capital stock
and set apart in tae oIesoas sTee nvs thousand
Of he aid "a Son de Fer o. enforcement 10 m ne ioa ,da
shall long the following parties in the respective
| Man CO. twenty five hundred shares EdwsTd Eontains
Twelve hundred and 6ty sh@reI rhs remaining thoa.
sand shares Of the ten thousand shares aforesaid,
' disposed Ss sRd Of ny the SoG
s s a s s3 a.Uo,sS Of SS ~
vote entire Board Of Diec Sad ten thousand
of but no event me Thereof be Os
n S d MsTs Pon and nf s '
rights and Interests N and 20 SAID psten styled uAson DC
use T. lame vend others being deemed
beeLt consideration for said ten tn 'usAnd shares
ARTICLE FIFTH.
Aueowers Of the Corporation shall be vestei In BOARD
consisting OF Eight reet1s who shtl own eeh AZ le at
ing sl,et, one Of th.if own r nun, p"seea, Of
ti"n, through their President and D1ss Ors shs
have snd enjoy succession nay contract, sue aad %
make and loEse seal bold receive pa iaase ant
real property for Toe use Of 1s said Cor orse only
paper, secured by mortgage on property IN The CITY
double tle value Of the loaned tina, sac
loans shall be made only on vote Of least hreefoarths
said sssrs OF Directors appoint Secretary ard al
1Sn S pas RG AsD he salaries % Of y the cSpo
and the amount Of security tast shall Pe rev aired from
such bylaws iol th prope management and Of th
majority Of the said Board shat be 70 form
quorum as also 70 elect on Ger s there % Aaa ne sa
therein by dea absence resignation othe
'"0''' ARTICLE SIKH.
On the first Monday june thousand eight hun
bred sxtynine aud annually thereafter, election
the Cooperation which election previous notice Of hes
day shall be ven IN two nessptpss Poi he'd IN Neg W
voted upon shall be sufficient . elect such ID ~
r,eo,s or oher purp ses ,ha enttled directly
proxy, vote sacn share Of stock hsd 6y ham
the said Cooperation but the Drecoss thea 10 oes sh
hou until smother eectsn held which notice sht
be given above provided Tor and shall continue until
ARTICLE SEVENTH.
All transfer Of stock a be Office Of Con
psny book OF rsnse TO be Kept that purpose II
new stockhhOlder binding himself or herself b. the me
ditions stipulaDts Of this act and all tns ruls
regulations By made and adopted pursuance therec
ARTICLE EIGHTH.
This Corporation shah be and continue for and during Il
term 81 'S s nav foq business as S a. two tho
sand shsres the CAPITAL stock, specified in Article rhir
g shsll have been subscrbsdfor
ARTICLE NINTH.
The following named Stockholders. viz: John Davidso
| Max y Biyney, Charles Lesseps. William II. Meisl
flank W sey mour James ID. Blar. hobert Rabers Al
6irsetors Who sh- at meeting Of
number a. President ana the said Board shall
superseded BY tuer sseeessos TO eec'ed as p-oYded
= | Article sixtn- . ,,
The Board OF Directors may accept Professionally any pow
or pnve conferred the Association by amen
oil which the is fr ned OF D. the adopiu
| Of any Lev AIT Begisaurs BY any Of 80
ress cf tie United States America; but the final
snce 81 any power privilege shall be determined By
J. vote If he mAjs rity amount Of the btOckhOlders
ARTICLE ELEVENTH.
The lauidat n OF the affairs OF Corporation at
termn 4ton OF lie charter, il determined
ckholders shall be conducted by three StockhOf
duly elected oy maioruy ia amount o. tue 0cShod-rs
nesting eued purpose. after sixty days
vious In published In NeF Orlea
Ths ne liquidation AID he amount OF their conpen
ion alsO all other privileges TO be conferred
0udstors sha be fixed 10 such the said StOS
: | holders may At such general meeting determine.
> ARTICLE TWELFTH.
The names Of the Stockholders their residences, and
respective number Of cha held by each for the ess
'f declared ueh subscribed this act oppos
the nAmes o each respectively.
| Ub.r.fora The supearers themseiyes thu