New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-11
CHARTER.
MISSISSIPPI AND MEXICAN GULF
SHIP CANAL COMPANY.


CTATE OF LoUIsIANA-PARISH OF Or
= leans-City of New Orleans BE it known that
on this sixth day OF July IN the year Of Iuo Lord
independence of the United States of America the
ninety-third, before me, Henry q Dibble, a Notary
leans, state of Louisiana, duly commissioned and
6asineff, ana IN the presence OF the witnesses
| came and appeared the parties whose names are
ayalng themselves Of the provisions of the statues
Of the state of Louisiana relative to the organiza
ton of corporations for works of public improve
ment and utility they have covenanted and agreed
and do by the5 presents covenant, agree and bind
themselves into and constitute corporation for the
objects and purpose. and under the stipuatons
and regulations following viz:
ARTICLE FIRST,
The name of the corporation shall be 1.-The Mis-.
sissppi and Mexican Gulf Snip Canal Company"
It's dom Gil shall be the city Of New Orleans and the
whom ctation 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
Mexican Gulf through Lase Borgne, under the
franchise granted by the State OF Louisiana to Rch
ard A. Stewart his associates and assigns, by 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.
All powers of the corporation shall be vested in
Board of Directors, consisting Of six persons, who
shall be stockholders of the corporation.
after. an electo for said Board Of six Directors snail
be held at the office OF the corporation, OF which
election previous fifteen days shall be given
in two newspapers published in the city of New Or
leans plurality Of votes SeGuntng one vote Tor
said Dreotprs who at the rst meeting after t their
dent OF the Board we'll as OF the corporation.
ARTICLE FIFTH.
The President shall preside at all meetings Of the
said Board Of the corporation, and in of his
shall elect 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
eeetion Il held Of which notice sba be- given as Above
held Ii.''D ~ anu 81 - 'O-'''-1' Vs. - ' "
The Board of Directors shall appoint Secretary,
Treasurer, and all such Clerks and Agents may
tx the salaries OF all officers OF the corporation and
the amount of security that shall be required from
establish such bylaws for the proper management
and regulation OF the affairs of the said corporation
said Board shall be necessary 70 form quorum, as
also TO elect officer thereof and tne said Board
occur therein by DEATH absence, resignation or any
o'ie' '"17' ARTICLE SEVENTH.
Each shareholder at all meetings for the election
of Directors other Darposes, shall be entitled, dl
reoty or DY proxy 70 one fote Aof eac Suhre OF STOCK
--'-' - ARTICLE EIGHTH
All transfers of stock shall be recorded at the Office
that purpose the new stookhoider binding himself
or herself by the mere fact of recording such trans
ations of this act and any and all the rules rega
tons, Or bylaws made and adopted in pursuance
ARTICLE NINTB.
This corporation shall be and continue for and
during the term Of twenty Ave years from and alter
ha of these presents, and mag organize for
business as tVo-thirds OF its capital stock
shall have been subscribed for.
ARTICLE TENTH.
The following named Stockholders, viz; Jane
o. Noyes, William W. Howe, Cyrus Bussey, L. j.
Highly, Thomas u Dqrant, and Samuel K Brown
who shall their first meeting elect OF their
number as President. And the said Board and the
successors to be elected provided in article fourth
ARTICLE ELEyENTH.
The Board Of Directors may accept for the oorpo-
poration BY any amendment OF the law under which
tue same is formed or by the adoption Of any new
States Congress.
ARTICLE TwELFTH.
The liquidation Of the affairs Of said corporation,
Ii Ise a5an hay % shall be Conducted
by three Stockholders, duly elected by majority in
a Sur1 e alter sixty days previous notice Ia
two newspaper rs published n New Orleans. The pc.
sation as also al other privileges to be conferred
upon said liauidAtors shah be liked N snoh manner
a. the said Stockholders may At such general meet
ing determine.
ARTICLE THIRTEESTH.
The names Of the Stockholders. their residences
and the respective sharss held By each are for the
present declared be such as are subscribed this
act and opposite the nemes OF each respectively.
Ss n q Mckay ans
H. NJ. Dibble witnesses Of lawful age, residents Of
this CITY, who hereunto subscribed their names with
the said partiesand me, Notary, after due reading
Of the foregoing on thu day and date first above
written.
tSignedl JAMES o. MOVES
W; W. HOWE,
CYRUS BuSSEk,
l. j. HIGBK,
THOMAS j. DURANTi
S. u. BROWN.
Witnesses: zuHeLIVs MCKAY and Il. N. Dr5BlE.
e' copy HEERY G. DIBBLE. notary Public,