New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-22
CORPORATIONS,
rHaRrER. ..CHARTE
STATE OF LOUISIANA. PARISH OF OR
LEANS.

1
| LEANS.
Be it known that on the thirtieth day of July
1873. before me, Edmund George Wells 3 Notar
fuoic IN ana for tina parish Of Orleans ia 10 o
Louisiana aforesaid, duly commissioned and quaii
ned and IN the presence OF the with herens Of
Ter named and undersigned, personally came and ap
pearad the persons hereinafter named and under
signed who seVeraIly declared that, svailin
themselves OF the provisions OF the statutes OF th
State OF Louisiana relative to the organizations
computations IN this State. they have covsuantad
agreed aud DO by these presents covenant and agye
and bind themselves and those whom the,
represent, to form themselves into and constitute
corporation for the objects and under the stipu a
lions, reguators, ana Obligations following, viz:
ARTICLE FIRST.
The name and title OF this Corporation shall bt
the EEW ORLEANS PNEUMATIC PRoPEL
LING COMPANY.
ARTICLE SECOND.
The domicil OF the Corporation shall be at the cty
OF New orleans state OF louisiana he charter
shall continue Tor twenty five years uueS sooner
dissolved. he Corporation shall have common
seal, device o. which shall be q car fully equip
PED, within circle, and the name Of the Company
traced thereon.
ARTICLE Third
This Company is established for the purpose OF
developing, applying and using compressed air as
motive power IN propeIing street cars and other
y y aee9EdinS to tee several Inventions Q;
also TO develop and perfect such other inventions
ana improvenerts as he may hereafter make for
Directors is declared 10 be the officer upon
wnom citations and all other legal notices shall De
served.
ARTICLE FOURTH
The capital stock OF the Company shall be five
thousand collars $500 reDresenteG By thousand
shares OF tive collars ts5 each, all OF which shares
are oeclareC TO nave been PAID IN full should
monsg be required for the purposes set form in
article third over above the already realized
ors, with the approval of q majority OF the stocg-
holders may issue an additional number OF shares,
the nominal value OF twenty five dollars (Sz5 each
to be disposed of in the following manner viz: Ten
ten dollars $50 il sixty days thereafter and the
balance that is 20 say the sum OF five dollars 60 TO
fifteen days notice. Should the Board of directors
not require said balance, the same shall be iiloi-
dated by deducting the amount from the dividends
OF the Company accruing p said shares, SAID adoi
tlonai shares 10 rank equally with the original
SHARES IN al respects
ARTICLE FIFTH.
All the powers OF the Company shall be vested in
Bosrd of Directors TO consist of eleven. of
whom shall be required to five shares OF the
capital stock III his own name. The present Board
under this article, viz: A. G. Brioe. Jonn B. Robert
son, n: y. Foyer, Spencer Field Charles W. New.
Clark, Charles A. Labuzsn, Edward Tomat,s. and
q. b King shall compose and ere hs eby constituted
the first Board CT Directors under this charter who
shall, at their first meeting elect one of their NUM-
Der President. snd the Board, then con sttuted,
vsmber, 1871, ana thereafter biennialIy. at such
date, an election for Directors shall be held; the
stockholders TO b7 convened by public notice L. two
OF the daily papers OF New Orleans. fifteen days be-
tore such election.
ARTICLE SIXTH,
at ali elections of Directors by the stockholders a
plurality OF all the votes cast shall be required for the
election Of Director, each share of Capital stock
to De entitled 10 vote, either by the holder
fail o sna e
meeting, such meeting snail be adjourned to day
TWO weeks subsequent 10 such date. public notice Of
N cIya in rUEnn 1at.r
papers Ii at such adjourned meeting, the stock
holders again tai TO elect such Board OF Directors.
ar biennial election.
ARTICLE SEVENTH.
The Board Of Directors, on the first Monday en-.
suing each blennisl election, STA | be convened for
Prezid dent, and shall appoint Secretary. Said
Board may st all times appoint al CLERKS and
agents: ana may remove the same st pleasure, ard
shall TX the salaries OF ali otucers OF the Corpora
on, ans the amount OF security that shall De re-
lulred from any 4 said officers and agents Said
1oard inay also delegate such powers IN the transac
ION OF TIE OrGIE2ry business OF the Company to
committees of their own body, their officers or
AGENTS, as they may Deem expeoient and may also
ppoInt agents within and without the State under
ucl conditions SIS to them shall seem proper; and
ney shall t2re tire power TO make bylaws. rules
+heneveT the interests OF the Company NAV REQUIRE
T. and shall also have the power TO sunpIf apy
acarcles that may occur IN their Board: such |
acancles may ce declared on CT death re-
EQUATION, want of the proper number OF shares IN
essIve months.
ARTICLE EIGHTH
The President shall preside at ell meetings Of the
he absence or inability Of the President 10 preside
he Board shai appoint President pzo tenn. A |
as!oritg of the Board OF Directors shall BE- necss
ary TO constitute a quorum.
ARTICLE NINTH,
Certificates OF stock shall be issued 10 the stock.
oiders signed by tbs secretary and couutersIgued
y the President. and every stockho.Cer. by the |
hares under this article, shall be considered as |
avlng apprcVed'ot this charter and boUnd by eli |
$ clauses stpu atons and provisions. All transfers
stocl>shan be recorded in the stock book of the |
Company, and the tIausieree snail, by ne mere &C.
eptance OF the transfer on the books aforesaid.
bound to abide by all the clauses Of this act. aud
le by avs 10 r1ies that now o. mar hereafter pa
dopted bV tais Company.
AaTICLE TENTH
No ckholGer shall ever be held liable Or respon-
pie pie, for the CONTRACTS or faults Of said COMPANY
pr SEAL any mere inforrnatg in the organization
6 Gqka3y haze the o effect Of sG9dsTPg the
apy greater liability beyond the amount OF his
ock therein.
ARTICLE ELEVENTH.
Said Company shall sue ard be sued in its cor |
'rate name and capacity, and plead and be i'm
eaded accordingly.
ARTICLE TWELFTH
The Board of Directors may accept professionally
~ power or privilege conferred on the Company |
|
me framed, or by the adoption of any new act OF
@ Legislature. by any act of Congress of the |
nited States of America, but the final acceptance |
any such power Or privilege should be deter
med by vote OF majority in amount OF the
ockholders.
AATICLE THIRTEENTH.
This Charter may De altered or amer dee by res |
alton passed by two thirds OF the Directors and |
proved BY three fourths of the stock pre- sent, or
;ns a. ge ne oaiso ffr that purpose
pers OF this city.
ARTICLE FOURTEENTH.
1t the expiration o. this Charter, or whenever the
solution OF this corporation shall render rsces. |
y its liquidation, three Commissioners shall be |
cted by the stockholders from among its own |
siness 10 final Liquidation on such terms and IN
IN manner as shall be determined by ma rity |
stock present or represented
ARTICLE FIFTEENTH
The names of the Stockh olders and The respective
inber Of shares he!c by each, are for the present
2lared to De such as are subscribed and attached
this act and opposite the names of each, respect
- ARTICLE SIXTEENTH l.
his Company IS the Sole owner OF The patents. |
prove meuts and extensions IS made and invented
the aforesaid q. W. valley, having acquired the
ne as per contract with said Wallfy, dated
venth December, 1857, and subsequently by an. a
ler contract dated eighteenth March, 1853, both I
posted In the office Of the undersigned notary on
date hereof. 7
has done and passed in my Office, at the city of t
W Orleans, N the presence OF VII lam K. David i
Jules Dean. DR.. competent witnesses, who
rsunto siga their names with the said parties AMI
;. said notary, OF the day. meath and year first q
rein written. 4. O. WELLS. Notary Public.
tsigped)
i Il q 3 4 IN Jr' Witnesses. mhl8 ltawlt
George Wescn, batuzaI turk, and John Bank q
VS.. Frederick Res.
18TH DISTRICT I}; COURT a,g, FOR THE t
writ OF sale directed by the | Il