New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-19
ARTICLE FIRST


ARTICLE FIRST,
The name Of the corporation shall be The Mis-
gissippi and Mexican Gulf Ship Canal Company
Its dom ell shall be the city of New Orleans, and the
President Of the company shall be the officer upon
whom citation may be served.
ARTICLE SECOND.
The object and purposes of the corporation are to
open and maintain nayigable canal between the
w&ets Oh tIS ser R or1 sn9 ,ne ar b
franchise granted by the State of Louisiana to Ricn
ard A. Stewart, his associates and assigns, BY act
Of the Legislature OF said State approved March Y,
ARTICLE THIRD.
The capital stock of the company is hereby ized
al two millions Of dollars represented BY two
thousand shares Of one thousand dollars each, pay.
able in sueh manner and at such times as the Board
of Directors may determine.
ARTICLE FOURTH.
All powers of the corporation shall be vested in
shall be stockholders Of the corporation.
On the r5t day Of JuOe, 1863, and annually there
after election for said Board Of six Directors shall
be held at the office OF the corporation, OF which
in two newspapers published IN the city of New Or
leans. A plurality Of votes counting one vote for
said Directors who at the first meeting after their
election shall choose Of their number for Presi-
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 and in case of his
absence or inability to act the Board Of Directors
shall elect of their number President pro tenn
OF President The failure to elect directors afore
said shall not dissolve the said corporation, but the
election held of which notice shall be given as above
provided for, and shall continue till an election be
ARTICLE SIXTH.
The Boardo Of Directors shall appoint Secretary,
treasurer, and ali such Clerks and Agents as may
hx the salaries of all officers of the corporation, and
the amount Of security that shall be required from
any Of said Officers and agents, and shall make and
establish such by laws for the proper management
and regulation OF the affairs of the said corporation
as may be necessary and proper. A majority OF the
said Board shall be necessary to form quorum, as
shsl siso' nave power to iii any vacancies that may
occur therein by DEATH absence, resignation, or any
INV ARTICLE SEVENTH.
Each shareholder at all meetings for the election
of Directors or other purposes shall De entitled di-
rev by proxy to one vote Tor each snare OF STOCK
ARTICLE EIGHTH.
An transfers of stock shall be recorded at the Office
OF said company in book of transfer TO be kept for
that purpose; the new stockholder binding himself
fer to abide by all the terms conditions. and stipu-
lations of this act and and all the rules regula
tons, or bylaws made and adopted In pursuance
. - ARTICLE NINTH.
This corporation shall be and continue for and
the date Of these presents, and may organize for
business as soon as two-thrds OF It's capital stock
shall have been subscribed for
ARTICLE TENTH.
The following named Stoekholders, viz Jane
o. Noyes, William W. Howe, Cyrus Bnssey L. j.
HiCby Thomas j. Durant, and Samuel l. Brown
are hereby constituted the first BoRrdof Directors,
who shall az their first meeting elect one OF snelr
number as President. And the said board ana the
said President shall serve until superseded BY their
successors TO beeeeted as provided in article iourtn
ARTICLE ELEVENTH.
The Board of Directors may accept for the corpo-
ration any power privilege conferred on the cor
noratiou by any amendment OF the law under which
the same is formed, BY the adoption of any new
act OF the Legislature or BY any act OF the United
States Congress-
ARTICLE TWELFTH.
The Humiliation Of the affairs Of said corporation
at the termination OF It's charter, or sooner deter
mined upon BY its stockholders, shall be conducted
BIZ hres stockholders, duly elected by majority in
amount Of the Stockholders, At a meeting convened
two newspapers published in New Orleans. The Pc
Rod Of liquidation and the amount Of their connpen-
satiOn. as also all other privileges to be conferred
upon said lQuidAtoTs shall be Fixed IN such m amer
Is the said st0ckho ders may at such general meet
ing determine.
ARTICLE THRrEESIH-
The names Of the Stockholders, their residences
and the respective shares held By each are Tor ire
present declared 70 DO such as are psc THIS
act and opposite the names Of each respeetlysly.
This done and passed in my ONCE IN Heg orleans
Aforesaid, Sc the presence OF ZulnGnus MCKAY ana
n n. Dibee, witnesses Of iayia s ns,,ss %
the said partiosand me. Notary. after due reading
Of the foregoing on the day and date first above
"T TsisTsa, JAMES o. MOVES,
N'N w. w. HOWE,
CYRUS BUSSEY,
L. y. HIGBY,
THOMAS ]. OURANT, i
S. L. BROWN.
Witnesses; zuNoLlUs MCKAY and II. n. DmBLE-
A true copy henry c. DIBBLE, Notary Public.
m ~ Vi