New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-17
CORPORATIONS.


CHAKTEK ..... ..."......:. Oh AKTER.
STATE OF LOUISIANA. PARISH OF OR,
LEANS.
Be II known tnat on the thirtietn day Of July
1868, before me. Edmund George Wells, Notary
Public in for the parish of Orleans, tate OF
Louisiana aforesaid, duly commissioned and quail
fed. and the presence OF the witnesses hereinat
pearad the persons hereinafter named and under
signed who severaily declared that, avaiiing
themselves of the provisions Of the statutes OF the
State Louisiana relative to the organizations of
corp ratops this State, they have covenanted and
and bind themse Ives and those whom they
represent, form themselves into and constitute
cor poratlon for the oblect and under the stpuis
tons, regulations, and oDlga'lons following, VIZ:
ARTICLE FIRST.
The name and title of this Corporation shall be
the NEg ORLEANS PNEUMAriC PROPEL-
LING COMPANY.
ARTICLE SECOND.
The domcil of the Corporation shall be at the city
OF New Urleans, state OF Louisiana: the charter
shall continue for twenty five years unless sooner
dissolved. The Corporation shall have common
SEAL the device OF which snail be fully equip
ped, within circle, and the name OF the Company
ARTICLE THIRD.
This Company is established for the purpose Of
developing, applying and using compressed air as
motive power IN propeliing street cars and other
CHAKLES w Wiley of New Ureans and
also to develop and perfect such other inventions
and improvements as he may hereafter make for
that purpose. The President OF the Board OF
Directors declared 10 be the officer upon
VT ON citations and all other legal notices shall be
served.
the capital stock OF the Company shall be five
thousand dollars 5000 represented b. thousand
declared have been paid full Should
money be required for the purposes forth in
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 twentyf five dollars S25l each,
to be disposed OF in the following manner, viz: Ten
dollars $40 to be paid at the date OF subscripton
ten dollars $50 in sixty days thereafter, and the
balance, that to the OF five dollars 49, to
he retained by the su 5scrber subject to call. upon
fifteen days notice. Should the Board of Directors
not require said balance. the shall be liqoi-
da' ed deducting the amount from the dividends
of the Company accrvlng to said shares, said addi-
tional shares 10 rank equally with the original
shares In all respects.
ARTICLE FIFTH.
All the powers ofths Company shall be vested in
Board OF Directors, TO consist of eleven, eacn of
whom shall be required to own five shares OF the
capital stock in his name The present Board
OF the Company. or sucn of them as qualified
under this article, viz: A 6; Brce. Jonn b. Robert
ton, ihomos Il. Converse, s J. NJ K. Scott J. s.
Clark Charles a. Labuz.n Edward fomat,s. and
the first Board Of Directors under this Charter who
shall, at their first meet,n elect one of their
Der PRESIDENT and the Board. as then constituted.
vember, 1871, ana theresfter bien nialiy. at such
date, election for Directors shall be held; the
stockholders to be convened by pubic notice two
of the daly papers OF New Orleans, fifteen days be-
fore sucn election.
ARTICLE SIXTH,
AT all elections of Directors by the stockholders,
plurality of all the votes cast shall be for the
election of Director, each share CT Capital Stock
TO be entitled to- one vote, either by the holder
fhoya nf nv n fynn fho
holders fail to elect such Directors at the first
meeting, such meeting shall be adjourned to day
such Adjournment to be given in two of the daily
papers II at such adjourned meeting meeting the stock
the old Boar d shall hold until the next regu-
lar biennial election
ARTICLE SEVENTH.
The Board of Directors. the first Monday en-.
suing each biennial election STA l be convened for
the purpose OF eiectlrg one OF it's own mem bers
President, and shall appoint q Secretary. Said
Board may at all times appoint all clerks and
agents. ans may remove the same at pleasure. and
snail fix the salaries of all officers of the Corpora
ton, an d the amount of security that shall be
CURED from any of said officers and agents. Said
Board may also delegate such powers in the transac
ton of TIE ordinary business OF the Company to
committees of their own body or their officers or
agents, as they may deem expedient, and may also
appoint agents within and without the State, under
such conditions as to them shall seem proper; and
they shalt have tie power 10 make bylaws rules
and regulations, and To amend and alter the same
whenever the interests of the Company may require
vacancies that may occur in their Board; sucn
vacancies may be declared On account of death, re-
signation want of the proper number of shares in
solvency. or absence without leave for three sue
ARTICLE EIGHTH
The President shall preside at all etngs Of the
Board of Directors and s ockhoders and in case of
the absence inability CT the President to preside,
the Board s5aH appoint a PRESIDENT pro tenn. a
5ary TO constitute quorum.
ARTICLE NINTH
Certificates OF stock shall be issued to the stock
holders signed by the seeretsry and countersgned
simple acceptance of his certificate of stock or
shares under this article, shall be considered as
having approved of this charter, and bonnd by all
its clauses, stpu atons and provisions All transfers
Of stock shall bs recorded in the stock book of the
,eptance OF the transfer on the books aforesaid
be bound to abide by ell the clauses of this and
The by laws ana rules that now may hereafter be
adopted BY this Company.
ARTICLE TENTH.
No Stakeholder shall ever be held liable or respon-
sible Tor the contracts or faults of said Company,
nor shall any mere infornality in the organization
If said Company have the effect of rendering the
% any greater liability beyond the amount OF his
stock therein.
ARTICLE ELEVENTH.
Said Company shall sue and be sued in its cor
oorate name and capacity. and plead and be i'm
pleaded accordingly.
ARTICLE TWELFTH.
The Board of Directors may accept Professionally
my power or privilege conferred on the Company
)y any amendments of the law under which the
anne Is framed. by the adoption of any act of
he Legislature. or by any act of Congress of the
IN tied States OF America but the final acceptance
If any such power privilege should be deter
mined BY vote OF a msjority in amount OF the
stockholders.
ARTICLE THIRTEENTH.
This Charter may be altered or amende by a res
ution passed by two THIRDS of the Directors AM |
pproved by three-fourths OF the stock present or
epreseDted at a meeting called for that purpose |
living fifteen days public notice in two Of the daily
,6pers OF this city.
ARTICLE FOURTEENTH.
At the expiration of this Charter or whenever the |
OF this corporation shall render neces
airy its liquidation, three Commissioners shall be |
lscted by the stockholders from among its own |
BUSINESS to final liqu1o ton such terms and
uch manner as shall be determined by q majority |
stock present or represented.
ARTICLE FIFTEENTH. |
The names of the Stockh oders and the respective
lumber of shares held by EACH are Tor the present
declared to be such are subscribed and attached
this act and opposite the names OF EACH respect
Vely.
ARTICLE SIXTEENTH.
This Company is the sole owner of the patents, |
y the aforesaid q. w. Valley, having acquired the |
anne per contract with said Valley, dated |
leventh December 1857 and subsequently by an
Their contract, dated eighteenth March, 1858 both
deposited in the Office of the undersigned notary on
he date hereof.
Thus done and passed in my Office at the city of |
lew Orleans in the presence of Viii lam E. David |
nd Jules Dejan Jr., competent Witnesses who |
ereunto sign their with the said parties an
ne, said notary, the day, month and year first
erein written. E. G. WELLS. Notary Public.
4 " P E bsvrD Dr. Witnesses. mhls ltaw4t