New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-13
5 sETgBIlcAN2 THgFsDhY, Jun p Asn - LLLLL-A
CORPORATIONS.
(vHAhTEh
CITY OF NEW ORLEANS. STATE OF LOUISIANA.

CITY OF NEW ORLEANS, STATE OF LOUISIANA.
Re il known that on the fifteenth day of Nav,
in the wear of our Lord one thousand eight hun
bred and seventy -one, before me- Edward Barnett,
CITY of New Orleans and State Of Louisiana afore-
said duly commissioned and sworn, personally
a1d
and those whom they Represents, VINO declared
that awaiting effhe rights and privileges
granted by and contained in the provisions OF the
statutes of the State of Louisiana relative TO the Or
ganization of corporations in tins state they nave
covenanted and agreed, and do by these presents
Covenant agree and bind themselves, and those
whom they represent to form themselves into con
stitute and establish corporation or body polite
for the objects and purposes and under the stlpu-
lations, agreements and regulations hereinafter
''' ~ w. - ARTICLE I.
This corporation shall be known and ,b Designated
domicile shall be and is hereby fixed and estab-
lished in the city of New orleans. 1t shall exist
for the term OF twenty-five wears from this date,
unless sooner dissolved by vote OF tLree-fourths
of the stockholders thereof
ARTICLE Il.
The president or in his absence, the secretary
of the company shall be the proper person on
whom to serve citations or all other legal oocu
ments or writs in all suits against the company
ARTICLE III,
The objects and purposes of said association are
hereby declared to be the establishment of race
course for the advancement of racing ana the nm
proyement of the breed of horses; the estaDiisn.
Ineut of a clubhouse for the social enjoyment OF
its members and such other purposes IN eounec,
ton Herewith as may be designated by the Board
VI D''' ARTICLE "
The capital stock of the said association is fixed
at the sum of one hundred thousand dollars, dvd
ed into shares of one hundred dollars each, which
capital stock may he increased to amount not
to exceed two hundred and fifty thousand dollars,
by vote of two-thirds of the stock holders there
Of paw on No
pany shall be made follows, viz: ten per cent on
subscription and the balance in such insfallmsnts
as the directors, from time t. tine may can H.
giving least fifteen days notice thereof IN two
newspapers published in the city of New Orleans
same within fifteen days after becoming due, as
aforesaid, the stock and any payments made
thereon may be declared forfeited by vote OF
the Board OF Directors.
ARTICLE v
The association may go into operation as soon as
fifty thousand dollars OF the stock shall have been
subscribed.
For the purpose of carrying out its objects the
association shall have the right to purchase or
lease Awhatever grounds and buildings may be
deemed necessary
There shall be elected annually, on the second
Monday of May, a Board of Directors consisting
OF twenty-one members, who shall be chosen by
the stockholders from their number at such place
in the city of New Orleans as may be selected,
after ten days advertisement in two of the news
papers pub ished in this city, and shall hold office
until their successors elected and qualified
The board thus elected shall at their first meeting,
elect such officers as they may think proper, and
shall make such bylaws, rules and regulations for
the government OF the association and the election
of members as they may deem necessary. 1t shall
REQUIRE majority of the stock voting to constitute
an election of the board each share being entitled
to one vote.
The stockholders shall not be responsible for
losses or damage incurred BY said association De,
tba of pau tai stuck held and owned
by him or them respectively
ARTICLE TX
All the powers of the said association shall be
vested in the Board of Directors thereof who shall
in the board or otherwise The said board shall be
authorized to receive further subscriptions until
the amount subscribed shall have reached the
aforesaid sum of One Hundred Thousand Dollars.
fi" ARTICLE X
The following named stockholders, elected on
the eighth instant are hereby constituted the first
Board of Directors and invested with all the rights
and powers herein specified, VIZ;
- g. II. Sloeomb, X. NJ. Montgomery,
c. 7. Howard. =. Sa9,non,
L. Z. Lemarie, ii. B. Foley,
S. L. James, John A. Morris,
G. A. Weed, L E Genny.
E. A. Yorke. Edward Barnett
D. Wallace. g. G. Garner,
P. o. Hcbert, James I. Pace,
The failure for any cause to elect directors on
the day when such election should have been
held, shall not dissolve the association, but the
directors then in Office shall hold over until their
successors are elected and qualified.
ARTICLE XII.
This corporation shall be capable in law to buy,
SELL mortgage take, receive, hold and in any
acquire real and personal property; it shall be
capable to cite and be cited, TO and be sued;
it shall be and is hereby empowered and author
lied to make rules, bylaws, ordinances, and to do
and perform any and everything needed for its
government and support not repugnant to the
constitution and laws of the United States, and of
the State of Louisiana, and of this act of ineor-
poration.
The said association shall have seal with such
device upon the same Is the Board of Directors
may adopt, and the name Of the association en-
ARTICLE XIV.
The affairs of the association shall be liquidated
by three commissioners, appointed by the stock
holders from among themselves, at general meet
ing convened for that purpose, after the delay and
in the manner pointed out for the election of
directors; all necessary powers shall be conferred
on them, their compensation and term of Office
shall be fixed, their duties defined and the manner
in which they may be, removed or their term of
ARTICLE XIV.
The stockholders of the company, at a general
meeting to be convened for the purpose after ten
days notice in two of the newspapers published iu
the city, shall the power to make any Changes
additions or notifications in this act of ncOrp0ra-
tion provided that three -fourths of the stock
presented at such meeting shall vote in favor of
such proposed measures and any of such change
addition or modification shall be recorded as re-
| quired by law. E
Thus done and passed in my office at the city of
New orleans aforesaid the day, month and
year first above written, and in presence of Messrs
Marcel T. Ducros and Joseph W. Jones' competent
witnesses, who hereunto sign their names with
said parties and me- notary.
Original signed:
C. II. SLOCOMB
GUS. A. BREAuX and others
NJ. 4. DUCROS,
]. W. JONES.
EDWARD BARNETT, Notary Public.
l certify the foregoing to be true copy of the
original act extant in my current records
In faith whereof grant these presents under
my signature and t he impress of my seal of office
at the city of New Orleans, on the fifth day of
June, eighteen hundred and seventy-one
EDWARD BARNETT. Notary Public,
je9 law5t
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