New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-04-12

B sSArr a. rotj1slxxx Pan IN 0nxaAn8
CrrT OH INV Ontnxpk
:. i sr.,v, th.t % ~ saehfk ~ fmazsa, II
ia vs - 81 our Lord one tho1send saGbt hundred
IA sSsveStvsece 81 q the indspen1ence e he
United Ststes Of America the ninety 18th, ossoye
tSs s sss 81 oresns, state 81 Iouisiana duly
commissioned and qualified, and IN the p.esence g
the witnesses hereinafter named ana unae1renc.o,
sfter named and undersigned, who declared that,
awaiting themselves Of tho provisions fthe statutes
e 81 thew DO ST tSsse presents
into and constitute . corporation for the following
specified oljects and under the following stipuia-
''' ARTICLE
The Official name Of the cergogas"n. :naI 6e ne
TON COMPANY, and It shall have corporate seal
with the name Of the company thereon
ARTICLE IL
The business and legal domicile of the company
or corporation shall be in the city Of New Orleans,
subject to removal only by vote Of three fourths
of the stockholders.
ARTICLE III.
The object of this colhpany is to construct or
otherwise to procure and maintain one or more
the mississippi river its trbutaries for the pur
nose Of carrying freight mails and passengers; to
construct docks .wharves buildings and such other
constructions as may be necessary to the building
and repairing Of vessels. and generally to- exercise
snch Incidental powers and privileges are hereby
OF may be conferred on them orthe purposes afoEe-
said
The president Of the company thus formed is
hereby constituted the officer on whom citations
may No 'ef'e~' ARTICLE v.
The capital stock Of this corporation is hereby
fixed at one million dollars, represented by ten
per cent of each subscription shall be pay able in
conformity with Article XII, and 1t Is provided
that this company shall be authorized to receive
-, la Aa 9TH
capital stock thereof at it's cash value and that
the appraisal of the same be referred Othe stand
Directors for such purpose; and provided, Also
that the company may commence business ct any
time the Board Of Directors may deem it advisa-
amouns not exceeding two millions of dollars by .
vote representing twO-thirds of the capital Of one
million dollars. II is also provided that no fur.
of the first five hundred shares Of the said com
pany subscribed for other than the payment
Pr%nnSer 'O Of a the amount Of stock which
may be subscribed for. other than the
said five hundred shares, shall be paid at such
the Board of Directors; provided. no more than
ten per cent OF said subscription shall be called for
at any one time, and not oftener than once in
ARTICLE vi.
Three.fourths Of the stockholders in capital
shall have the power to wind up and settle all
existence, or Of making such @oiifcations add.
lions or changes to this act as may be required,
provided the same are just and proper, on giving
ten days previous notice In two Of the newspapers
published in this city.
ARTICLE VII.
The Board of Directors, ut an early day, shall
proceed to elect the officers of the corporation,
treasurer, superintendent, secretary and such
other officers they may deem necessary. the first
two Of which shall be from their own number
ARTICLE VIII.
The term for which this corporation is formed
shall be twent y-fve years.
ARTICLE TX.
SECTION l. The regular meetings of the stock
holders of this company shall IL held annually,
commencing on the first Monday In june A. D. 1871
seven Of their number to serve directors for the
ensuing year, who shall form and constitute board
Of control for the management Of the affairs of the
company for the following year, or until their sue
cessOrs are appointed; aud until the election Of d
rectors as aforesaid, the following named persons
affairs Of said company, any three Of whom shall
constitute . quorum, viz: Joseph c. Hess, David
DeHaven. John W. Blanks. Henry L. Jones, Dexter
Phelol, who shall hold their office until after the
first regular election.
SIC. Z failure to elect directors at regular
meeting of the stockholders shall not dissolve the
company but the directors then in Office shall con-
time to exercise their functions until new board
SEC 3. Five members Of said Board of Directors
shall form quorum to do Business, and the Board
sna e e maze snd adopt
Of the company. provided the same do not conflict
with the true intent and meaning Of this act Of in
Of Directors may declare dividends from time to
time, as they may deem advisable.
SIC. 4. II any director ehall cease to be stock
holder during his term Of Office it shall be declared
vacated, or in the event Of the death, permanent
absence or resignation of any director. the board
shall have the authority to fill the vacancy occs-
stoned thereby.
ARTICLE K
No stockholder shall ever be held liable or respon-
sible for the contracts faults Of said company
beyond the amount Of his, her their stock in
said company. nor shall any mere informality in
the organization of said. company have the
effect Of rendering the present charter null,
or 81 enqposn,s stock!odsr to any greater
therein
ARTICLE ri.
Should any subscriber refuse or neglect to nav
punctually, his, her their installments, the.
per annum shall be added thereto from maturity
until final payment; and if any subscriber neglects
or refuses to pay his her Or thei! within
Board Of Directors shall have the right of causing
any share or shares upon which any instalment
may be DUE to be sold at auction or to forfeit said
shares, or to compel by suit, the payment Of such
installments as the board may deem advisable.
ARTICLE Kill
No subscription to be binding until the sum of
fifty Thousand dollars is subscribed, when pay.
ment OF ten per cent shall be due and pay able.
ARTICLE XIII. q
The following named persons are stockholders in
said company. and, SUCH entitled to the mum.
Der OF shares placed opposite to their Names re-
spectyely, to wit: Joseph c. Hess, David DeHaven,
John w: Blanks, Henry L. Jones' Dexter G. Hitch.
cock William - Bates and William H. PhelOn.
And, in conclusion, the stockholders hereinbefore
named in confirmation of the aforesaid stipulations
covenants and agreements, ordained and estab-
lshed by the present act for sthe purposes above
mentioned and to that effect only. have herein.
after subscribed their names respectively.
United States internal revenue stamp to the
value Of twenty cents is hereunto attached, and
duly cancelled
Thus done and passed at the city of New Orleans
aforesaid, the day, month and year first above writ.
ten, in the presence of John D. Harde and William
\. Sheppard, competent witnesses of lawful age
dOmicated in this city, who hereunto sign their
names, together with the said parties, and me-
notary.
Original signed
J. c. Hess, 70 shares; D. DeIfaven. 80 shares.
W. II. PhelOn. 70 shares; ]. w. Blanks, 70 shares;
Henry L. jones, 70 shares; D. g. Hitchcock, 20 shares
w. A. Bates, 20 shares.
JOHN D. HARDK,
w. II. SHEPPARD.
J. BENDERNAGEL Notary Public.
STATE OF LOUISIANA
Parish Of Orleans. !
l. the undersigned, notary, do certify the forego.
ing to be true copy of the original act file and
of rpcO in ulvO off