New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-02
CORPORATIONS.
STATE OF LOUISIANA. PARISH OF OR,
LEANS

Be it known that, on the thirtieth day Of July,
1858, before me, Edmund George Wells Notary
Pubic in ana for the parish of Orleans, tate Of
Louisiana aforesaid duly commissioned ana quar-
hea and 10 the presence OF the witness az
pesrad the persons hereinafter named ana nnoer-
signed who severaliy declared that, avaihng
themselves of the provisions of the statutes OF the
State OF Louisiana relative to the organizations OF
aratons in this State. they have covenanted and
and bind themselves and those whom they
represent to form themselves into and constitute
tons. regulations, and obligations allowing. VIZ:
ARTICLE FIRST.
The name and title of this Cooperation shall be
the NEW ORLEANS PNEUMATIC PROPEL-
LING COMPANY.
ARTICLE SECOND.
The domcil of the Corporation shall be at the city
OF New Orlesns. state OF Louisiana; tho charter
shall continue for twenty five years unless sooner
SEAL the device OF when shall be car fully equip
ped, within circle, and The name of tee Company
traced thereon.
ARTICLE THIRD.
This Company IS established for the purpose of
developing. applying and using compressed air as a
motive power 10 propeliing street cars and other
S UaHRLEs " wAfLEY Of New orleans, and
also 30 develop and perfect such other inventions
ss he as 81 the soFd OF
Directors IL declared to be the officer upon
whom citations and ali other legal notices shall be
ARTICLE FOURTH.
The capital stock of the Company shall be five
thousand dollars 350 represe nted BY one thousand
shares OF i've dollars $50 each all OF which shares
are declared to have been paid IN full Should
monsy be required for the purposes set forth in
article third over ana above the sum already realized
from the sale of shares issued, the Board of Direct
ors, with the approval of majority of the stock
not to exceed, however. two hundred and fifty, OF
the nominal value OF twenty five dollars $50 EACH
dollars $40 to be paid the date of subscription;
ten dollars (SlU In sixty days thereafter and the
oe retained by the subscriber subj cot to cali upon
fifteen days notice. Should the Board OF Directors
dated py deduoting the amount from the dividends
of the Company accruing to SAID shares. said addl
tionaf shares to rank equally with the original
shares In all respects.
ARTICLE FIFTH.
All the powers of the Company shall be vested in
Board Of Directors, to consist Of eleven. each of
whom shall be required to oyn. five shares Ct the
of the Company. or suea of them as are qualified
under this article. viz: A. g Brice, John Robert
ton, Thomas NJ. Converse, j. N. X. Scott j. S.
CLARK. Charles A. Labuzan, Edward romatIs. and
the first Board Of Directors under this charter who's
shall, at their first meeting. elect one OF their num-
shall remain in Office until the first Monday in No
yember, 1871, and thereafter ienoally. at such
date an election for Directors shall be held; tue
stockholders to be convened BY public notice C two
of the daily papers OF New Orleans. fifteen days be-
fore such election
AhllOLE
At all elections of Directors by the stockholders,
plurality of all the votes cast shall be required for the
election OF Director, each share of Capital Stock
thereof or by bis proxy, and if from any cause the
stockholders fail to elect such Directors at the frat
meeting, such meeting shall be adjourned to a day
two weeks subsequent to such date public notice Of
such adjournment to be given In two OF the daily
holders again fail to elect such Board of Directors,
the old board shall hold over until the next regu
lar bienuia! election.
ARTICLE SEVENTH.
The Board OF Directors, the first Monday
the purpose OF electiDg one OF its own member
pre.idens, and shall appoint Secretary. Said
agents aua may remove the same at pleasure. and
shall fix the salaries OF all oincer5 OF the Corpora
1ursd from any of said officers and agents Said
Board mag also delegate such powers IN the transic
committees of their own body, or their officers or
agents, they may deem expecient, and may also
appoint agents within ARD without the state, under
such conditions as to them shall seem proper; and
they shalt have the power TO make bylaws, rules
aud regulations, and 10 amend and alter the Same
whenever the interests of the Company may require
It; and shall also have the power 70 supply any
vacancies that may occur in their Board such
vacancies may be declared on account of death, re-
sigu0tion want of the proper number of shares. in
s5ivency. or absence without leave tor three sue
css5ive months.
ARTICLE EIGHTH.
The President shall preside at all meetings OF the
Board OF Directors and stockholders. and in of
the absence or inability Of the President 10 preside
the Board snail appoint President pro tenn.
sary to constitute quorum.
ARTICLE NINTH,
Certificates OF stock shall be issued 70 the stock
holders signed by the Secretary and couutersiened
by the President, and every stockhoIder. By the
simpis acceptance of bis certificate of stock or
shafes under this article, shall be considered as
having Approved OF this charter, and bopnd by ali
its clauses, sp atoms and provisions All transfers
OF stock SHAH be recorded in the STOCK book of the
(fN,1 +rZr Fornn Gt hal ho
ceptance OF the transfer on tho books aforesaid
be bound to abide BY ali the causes Of this act and
the by laws and rnles that no4 or may hereafter be
adopted by this Company.
ARTICLE TENTH.
No Stock bpider shall ever be held Liable -espon-
sible Tor the contracts or faults of said Company
beyond amount Of his stock in said Company:
nor shall any mere informality in the organisation
of said Company nave the effect OF rendering the
to any greater liability beyond the amount of his
stock therein.
ARTICLE ELEVENTH.
Said Company shall sue and be sued in its cor
porate name and capacity. ana plead and be i'm
pleaded accordingly.
ARTICLE TWELFTH
The Board of Directors may accept Professionally
any power or privilege conferred on Inc Company
same framed. by the adoption of any act of
he Legislature. or by any act of Congress OF the
OF any such power or privilege should be deter
mined by vote or majority In amount of the
Stockholders.
ARTICLE THIRTEENTH.
This Charter may DE altered Or amen dad by a res.
oluton passed by two thirds of the Directors and
approved By three fourths of the stock present.
re presented, at meeting called for that purpose
giving fifteen days public notice ii two of the daily
papers OF this city.
ARTICLE FOURTEENTH.
At the expiration of this Charter, whenever the
soiu ton of this poration shah render neceS
sary its liquidation, three Commissioners shall be
I'll, cted by the stockholders from amcng its
business TO final lquldation such terms and IN
such N amer shall be determined by a majority
OF stock present or represented.
ARTICLE FIFTEENTH.
The names OF the Stockholders and the respective
number OF shares held by each, for ths present
declared to be such are subscribed and attached
TO this act and opposite the names of ssch respect
lively. .
THIS Compan4is the soils OF the patents,
improvements and extensions Gs made aad invented
by the aforesaid o ". Valley, having acquired the
same per contract with said VALLEY, dated
eleventh December, 1867, and subsequently by an
ether contract, dated eighteenth March 1853, both
deposited in The Office Of the undersigned notary
the date hereof.
Thus done and passed in my Office at the city of
New Orleans, in the presence of vii lam e. David
heTeunto slgn their with the parties aui
me, said notary, on the day, month and year first
herein written. t. &. WELLS, Notary Public
tSignedl
i p 3 4 81 IT, witnesses. znh1s 1taw,t
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