New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-10
CHARTER.
AIISSI ssIPPI AND MEXICAN GULF
SHIP CANAL COMPANY.

STATE OF LOUISIANA-PARISH OF OR.
- leans-City Of New Ureans,-Be it known that
thousand eight hundred and sixty eight, and in the
independence of the United States of America the
Public, in and for the parish and city Of New or.
leans state of Louisiana, duly commissioned and
hereinafter named and Undersigned do personsy
came and appeared the parties whose names are
hereunto subscribed who severally declared that
awaiting themselves of the provisions of the statues
of the state of Louisiana relative to the organiza,
ment and utility they have coyenanted and agreed
and do by thes presents covenant, agree, and bind
themselves into and constitute corporation for the
objects and purposes, and under the stipulauons
and regulations following, viz:
ARTICLE FIRST,
The name of the corporation shall be THE Ms
sissippi and Mexican Gulf Ship Canal Company,
Its dom Gil 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 navigable canal between the
waters of the Mississippi river and those of the
fraaehse granted by he State of Louisiana to Rieh
ard A stewart his associates and assigns nv act
Of the Legislature Of said State approved March u,
ARTICLE THIRD.
The capital stock 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
shall be stockholders Of the corporation.
On the first day OF Ju9e 1863, and annually there;
after election for said Board of six Directors shall
be held at the office OF the corporation, of which
election previous notice o. fifteen days shall be given
in two newspapers published in the city of New Or
leans. A plurality OF votes counting vote toI
each share voted uponl shall be sufficient to elect
election shall choose one of their number for Pres
dent OF the Board as well as Of the corporation.
ARTICLE FIFTH
The President shall preside at all meetings of the
said Board of the corporation in case of his
sbsance inability to act the Board of Directors
shall elect one OF their number President pro tenn.
who shall for the time being exercise the full powers
Of President The failure to elect directors aOre
directors then in office shall no over until another
election is held of which notice shall be given above
provided for and shall continue till an election be
ARTICLE SIXTH
The Board of Directors shall appoint Secretary,
Treasurer, and all such Clerks and Agents as may
be necessary; may remove the same at pleasure j
fix the salaries OF all officers OF the corporation, and
the amount of security that shall be required from
any Of said office and agents, and shall make and
establish such bylaws for the proper management
As may be necessary and proper. A majority Of the
SAID Board shall be necessary to form quorum, as
shall also have power to fill any vacancies that may
occur therein BY death. absence, resignation, or any
O'iie' 'A'''s ARTICLE SEVENTH.
Each shareholder at all meetings for the election
of Directors other purposes, shall be entitled d
rec by proxy to one vote for each share OF stock
-''N y - ARTICLE EIGHTH
All transfers OF stock shall be recorded at the office
of said company in book of transfer to be kept
that purpose; the new stockholder binding himself
or herself by the fact OF recording such trans
ations of this act and any and all the rules, regula
tons, or bylaws made and adopted in pursuance
ARTICLE NINTH.
This corporation shall be and continue for and
during the term of twenty five years from and after
business as soon as twothirds Of It's capital stooE
shall have been subscribed for.
ARTICLE TENTH.
The following named Stockholders, viz: Jane
o. Moves, William w. Howe, Cyrus Bussey, L. j.
Highly, Thomas j. DurRnt and Samuel L. Brown
who shall at their first meeting elect one of then
number as President. And the said Board and the
said fresldent shSu serve ohtl snpersele9 ~ tnsi
successors to be elected as provided in article fourth
ARTICLE ELEVENTH.
The Board of Directors may accept for the corpo-
ration any power or privilege conferred on the cor
the same is formed, by the adoption OF any new
act Of the Legislature by any act OF the United
States Congress.
ARTICLE TWELFTH
The liquidation Of the affairs of said corporation
at the termination of its charter or sooner deter
mined upon by its stoosholdsEs ssall be conducted
amount Of the Stockholders, at a meeting convened
for that purpose attsT saty dSss preGSns n9Slee i
Rod Of liquidation, and the amount OF their compen
safion As also all other privileges to be conferred
upon SAD lquidators shall be fixed N such mannel
as the said Stockholders may at such general meet
ing determine.
ARTICLE THIRTEENTH
The names Of the Stockholders, their residences
and the respective shares held by each for thu
present declared to be such subscribed6to th
act and opposite the names of each respectively.
This done and passed in my office, in New Orlean
Aforesaid, in the presence Of Huinglius Mckay ant
II, NJ. Dibbe, witnesses. Of lawful age, residents
this city, who heroanto subscribed their names viii
the said partiesand me- Notary, after due reading
Of the foregoing on the day and date first above
csisned JAMES o. MOVES,
W. W. HOWE,
CYRUS BUSSEYs
L. j. HIGBY,
THOMAS j. DURANF,
S, Il. BROWN
Witnesses: zuNeLIUs MCKAY and II. "a. DIBBLE
A true COPY; - -.
Nsxr nrlaans univ a 1854 W oaW7Qd