New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-23
CORPORATIONS.
STATE or LOUISIANA, PARISH OF Or.
LEANS.

| SiA4h ot LCUISlANA, ramon Sr IN.
| LEANS.
Be II known that, On the thirtieth day of July,
isss, before tae. edmund George Wells. Notary
Pubic in ana for the parish Of Orleans, tate OF
Louisiana aforesaid, duly co1umls sioned ana qus
ter banned and undersg ned, personally came and ap
! pearsd the persons hereinafter named and unGer-
signed who severally declared tnat. svaihng
themselves of the provisions OF the statntee of the
State OF Louisiana relative to the organizations OF
corp ratcns in tins State. they have and
agreed and DO by these presents and agree
| and bind themselves and those whom they
represent, to form themselves me and constitute
corporation for the objects ana under the stlpuia
tons, regulate ns and obligations following viz;
ARTICLE FIRST.
TIE name and title OF this Uorporation snail be
| LING COMPANY.
ARTICLE SECOND.
The domicil of the Corporation shall be the city
| OF New Orleans. state OF Louisiana; The charter
| dssol,ed. Inc Corporati on shall nave common
SEAL the device OF which shall be car fully equip
| ped, within circle, and the name of the Company
| traced thereon.
ARTICLE THIRD.
1 This Company is established for the purpose OF
developing applying ana using compressed air as
| vehicles according to the several inventions Of
| CHARLES W VALLEY. of New Orleans, and
ano improvements as he may hereafter make for
l. that purpose. The President Of the Board OF
whom ctatons and all other legal notices shall be
served.
ARTICLE FOURTH.
Tha capital stock of the Company shall be tive
thousand collars $500 re presented by Thousand
shares OF dollars $50 each, all Of which shares
money be required for the purposes set form in
article third over ana above the already realized
from the sale OF shares issued, the Board OF Direct
ors, with the approval of majority of the stock
holders, may Issue additional number of shares,
NOT to exceed. however. two hundred and fifty, of
| the nominal vaue OF twenty five collars SIS each.
TO be disposed OF in the following manner. viz: Ten
dollars $40 10 be paid ct the date of subscription;
ten dollars $50 in sixty days thereafter, and the
balance that is to say the OF five dollars So to
ii cen days notice Should the Board Of Directors
not require said balance the same shall be liQoi-
dated oy deductiDg the amount from The dividends
of the Company aecrung to said shares, said addi-
t2onal shares TO rank equally with the original
shares II all respects.
ARTICLE FIFTH.
II the powers OF the Company shall be vested IN
Board Of Directors, to consist Of eleven each OF
whom shall be required to own five shares OF the
capital stock in his own name. The present Board
OF the Company. such of them as are qualified
under this article, viz: A G. Brice. john b. Robert
son, n. q. Folger, Spencer Field, Charles W. New.
CLARK. Charles A. LsbuzAn, Edward Tomat's. and
g. Il. King shall compose an are he re by constituted
the first Board Of Directors under this charter who
shall, at their first meeting. elect one of their mum
shall remain in Office until the first Monday in No
vember, 1911. ana thereafter biennialy. at such
dste. an election for Directors shall be held; the
stockholders be convened by pubic notice IL two
OF the daily papers OF New Orleans. fifteen days be-
fore such election.
ARTICLE SIXTH.
Al all elections of Directors by the stockholders
plurality of all the cast shall be required for
m s5 9 OF by M bsS
thereof by his proxy and if from any cause, the
meeting, such meeting snail be adjourned TO day
weeks subsequent 10 such date. public notice OF
such adjournment to De given in two OF the daily
holders again fail 20 elect Oh Board OF Directors,
the old board shall hold over until the next regu
lar Biennial election.
ARTICLE SEVENTH.
TIE Board Of Directors, on the first Monday en-
suing eacr Biennial election, STA be convened TOR
the purpose OF eectlng one OF its own members
Presi dent, and shall appoint Secretary. SAID
Board may at ali times appoint al CLERKS and
agents. ans may remove the same al pleasure and
snail liz the salaries OF all officers OF the Corpora
.ion ar the amoun1 OF security that shall be re-
CURED from any Of said officers and agents Said
Board may also delegate such powers IN the transac
ton OF the ordinary business of the Company to
committees of their own body, or their officers or
agents, as they may deem expeclent, and may also
appoint agents within and without the state, under
conditions TO them snail seem proper: and
they snail Rave tae power TO make bylaws, rules
and regulations, and 20 arnerd and slter the
whenever the interests of the Company may require
1t; and SHAH also nave the power 70 supply any
vacancies that may occur in their Board; such
vacancies may be declared OIL account OF death, re-
sgnatops want OF the proper nnrnoer OF shares In
sovency, or absence without leave for three sue
cessive months
ARTICLE EIGHTH.
Board of Directors and oekholders and in of
the absence inability of the President TO preside,
raslority OF the Board Of Directors shall be neces.
sary to constitute d quorum.
ARTICLE NINTE
Certificates OF stock shall be issued to the stock
holders signed by ths Secretary aud counJersigned
by the President, and every st6cEh OlGer, By the
simple acceptance of bis certificate Of stock or
shares under this article, shall be considered as
having approved OF TINS charter, and borno by all
its clauses u atoms and provisions. All transfers
of stock snail be recorded in the stock book of the
Company, and the trans1eree shall By the mere &C
ceptance OF the transfer on the books Aforesaid,
be bound sbide by all the Of this act, and
the by laws and rdles that now may hereafter be
adopted by this Company.
ARTICLE TENTH.
No Stakeholder shall ever be held liable or respon
siDle Tor the contracts faults of said Company,
beyond tue amount OF his stock in said Company
nor shall any mere infoTmality IN the organization
of said Company have the effect Of rendering the
present Charter mall or of exposing Stockn .lder
stock therein
ARTICLE ELEVENTH.
Said Company shall sue and be sued in It's cor
porate name and capacity, and plead and be i'm
pleaded accordingly.
ARTICLE TWELFTH.
The Board of Directors may accept Professionally
any power or privilege conferred on the Company
by any amendments of the law under which the
Is framed, by the adoption of any act OF
the Legislature. or by any ACT of Gongre OF the
of any such power or privilege should be deter
mined by vote OF a majority in amount OF the
Stockholders.
ARTICLE THIRTEENTH.
This Charter may be altered or amen ded by res
oIutior passed BY two THIRDS of the Directors and
approved by three-fourths of the stock pre- sent
re presented a. a meeting called for that purpose
giving fifteen days public notice in two OF the daily
papers OF this city.
ARTICLE FOURTEENTH.
At the expiration of this Charter, whenever the
dis solution of this corporation shall render neces
ssry its liquidation, three Commissioners shall be
elected by the stockholders from among Its own
members, whose duty 1t shall be to conduct its
business to final liquid alton on such terms and IN
such manner shall be determined by ma ority
OF stock present or represented
ARTICLE FIFTEENTH.
The names of the Stockb oders and the respective
number OF shares hed by each. are for the present
declared 70 be such as subscribed and attached
to this act and opposite the names OF each, respect
lively. observation-disclosures
improvements and extensions Is made and invented
by the afore said O. w VALLEY, having acquired the
same as per contract with said Valley, dated
eleventh December, 1867. and subsequently by
other contract, dated eighteenth March, 1863, both
deposited in the office Of the undersigned notary on
the date hereof.
Thus done and passed in my Office, at the city of
New Orleans, IN the pre- sence OF Wi lam Il. David
and Jules DEAN, Jr.. competent witnesses, who
hereunto sign their with the said parties AMI
me, said notary, tine day, month and year first
herein written. Z. g. WELLS, Notary Public.
tSiEDedl
4 i DEM D + s,,1 IT. Witnesses. mhl8 ltaw4t
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