New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-22
CHARTER
QUARTER
TATE OF LOUISIANA. PARISH OF ORLEANS
NEM OR EANS

| STATE OF LOUISIANA PARISH OF ORLEANS
CITY OF NEW ORLEANS.
| Be it known that on this sixth day OF March, in
! tho. year OF our Lord one thousand eight hundred
| and seventy one. before me, Thomas Jefferson
| Beck "A notary public i'll and tor the parish and
| stat. aforesaid. dOmciliated in said city of New
Orleans duly commissioned and qualified, and IN
presence OF the Witnesses hereinafter named and
| Undersigned, personally came and appeared the
parties whose names are o'inecrintd hrlrlo who
s.verally declared that. awaiting themselves of the
pro, -ions of the Law, OF iht state {" Louisiana rela
tive to the organization OF corporation, IN the said
state they have coNcnanted and agreed and do by
| thee. presents covenant and agree AMI bind them
seyc, and those whom they represent to form them
| selves INTO ana constitute corporation for
the objects aud under the stipulhtIon- and articles
| follow ing, to Wit:
ARTICLE L.
The Ia me and style IT this corpora. .on ,ha.. "
| Compans. The place chosen fOf IT'S d"mict.e rs
the city OF NV Orleans, in the stat" OF LOUISIANA
Said corporation shall have and ENJOY Succession
by its corporate, name: shall contract, SUI and be
sued sha 4 have power ANA authority 70 make ami
! use u corporate seal having TOR dcvic" the coat;
| ot-irns OF the United States, aud for an inscription
TN. name OF til. corporation. 1t shall hold receive
purchase. sell and otherwise convey ulit! It's cor
! poIatt name property both real ana personal,
mo, ible and iInmOvable shall maine and appoint
such managers directors and officer, as its Interest
| aud convenience may require; II shall make ami
| establish such bylaws rules anu regulations Tor
| the proper Ilanag. ment of its business and affairs
as may be necessary and proprT and 1h,n Possess
generally all such powers ana privileges us are
| gwen by law 10 corporations.
ARTICLE II.
| The object and purpose of the company are de
clartd to bt the navigation by steam OF th' Huf
OF Me xico the Atlantic Ocean and the rivers bays,
sounds and waters ada or tributary thereto.
between the following ports: New Orleans. Louisi-
ana; Cedar KEYS. Florida; Key West. Florida Ha-
wanna. Cuba; o between any two or more OF them
auv other ports or places upon the coast OF the
Atlantic Ocean the Gulf of Mexico, or the waters
tributary thereto together with the ports of the
West indies, and connecting with any rail or water
line lines from such ports, by building for
their INST, equippns, fitting, purchasing, charter
ing navigating and owning vessels to be propelled
solely or partially by the power aid of steam or
hy wind or otherwise TO be used i'll all lawful
licrce and navigation between the potts aforesaid
or between any such OF them as Ill the judgment of
the directors OF this company may be -Apedleut,
and upon the ocean and seas, and for the transpor
tatlou of passengers, trelGhts and mails thereon,
between said ports; and to acqalre and hold real
or personal property tor its own proper use and
benefit.
mated as the officer Oh whom citation notices aud
other .csal proce 81 may be served
ARTICLE "
The capita stock of the company hereby fixed
at rhe sum OF two bundled and nifty thousand
ID $50 O00) dollars, d. dri into two thousand five
handled share, of one hundred tlo0I dollars each,
twenty five per of which shall be paid in cash
AT the time OF signing this charter, and the remain
der in such manner the Board of Directors shall
hereafter determine. ANY share or shares of stock
Of -aii company on which any instalment shai.
day fixed by the Board of Directors for the pay
mcnt OF said nstallmen together with all the par,
| ti.l payments that have been made. sad
stock. shall, Ipso facto. became forfeited to sad
company.
ARTICLE V.
This corporation shall exist for the term of
twenty-five years, unless soncr dissolved pro-
vded tor in Article IN OF this charter.
ARTICLE VI
The powers OF the corporation vested in the
President and Board OF Directors. consisting OF
seven stockholders, who shall be elected annually
the third Thursday OF the month of February;
III each wear by the stockholders, at such place in
The city OF New Orleans as may be selected, after
ten DAYS advertisement in at least two lit " spapers
published in the city OF New Orleans. ANY stock
holder shall be eligible director, provided that
ten shares OF the stock OF the company is owned
! by him or his commercial firm All elections OF
directors shall be by ballot, and held under the
superintendent of committee of three stock
holders To be- appointed by the Board OF Directors
outside OF t4tir own BODY Every bona nde OWNER
OF stock shall he enttled to only vote for ever
Der of two hundred and fifty shares, but shall b-
entitled 10 only one vote for every three shares
amount OF two hundred and fifty shares provided
that no person shall br entitled TO vote on any
share shares of stock that have not stood III his
her or their names on the books of the COMPANY
for sixty DAYS prior To any such election. Every
stakeholder to BIZ entitled to vote at election
by proxy, provided the authority be i'll writing.
ARTICLE VII
The company shall commence operations when
ever one hundred and fifty Thousand ($lOlVo
dollars OF the capital stock thereof shall have
been subscribed. No certificate of stock shall BIZ
issued until the same shall have been fully paid up
and no transfer OF less than share of the capl
tai stock threeof shall be made the books OF
said company.
ARTICLE VIII
No stakeholder shall ever b. liable or Responsible
for the contracts or faults OF tli, corporation in
any further sum than the unpaid balance due to
the company on the shares owned by him:
shall any mere intornatv IN organization have
the effect OF rendering charter null of expos
ins stockholdcr to any liability beyond the
ARTICLE TX
Three-tourths OF the stockholders in capital at a
general mretn. to be convened for that purpose
after thirty days notice in two newspapers shall
| have the power to make anv lnO,iitications aIli
ions or changes in this act of Incorporation or
increase its capital. or 10 dissolve it; and this
value OF one hundred dollars shall he conside red
stakeholder, and shall vote prescribed in article
SIX; and any and all such modification, add
ton change or dissolution shall be rendered
required by law.
ARTICLE X
At the expiration of the term OF this act OF in
corporation, or at its earlier termination as pro
vidtd i'll the preceding article the affairs OF the
company shall be liquiaied. its debts and all
other liabilities PAID and the balance of It's funds
II any, shall BE- divided pro rata among the stock
holders under the charge and superintendent OF
three commissioners, to be- appointed by the Board
of Directors who shall continue to act unit the
business OF the company shall be tutil civ closed
and iqnidatcd; and the case of the death of
either one or two of them, then tn, survivor alone
shall act.
ARTICLE XII
The Board of Directors OF this comp,nT shall
elect annually at their first mectin. a president
aud they shall also elect such other officers clerks
or agents as shall be necessary to carry out the
p'lslhe>S ana objects OF said company. for such
time as they may choose; they shall fix the salaries
OF all officers, and the amount of security to b-
required from each The board shall have power
7" NIL vacancies caused by death resgnat ions or
insolvency OF any of its members and shall accept
b-tutcs for OF its members at their request
i'll writing.
IN. following named seven persons shall conSt!,
"te I'M, hr>t board OF Directors. and they and ali
future boards and presidents shall hold their ). ats
uitii thtr successors shall have been elected AMI
4iilfed IN accordance with article six
| ISAAC n. MARKS NAt;IN pI'IG
| JULIUS VAIRIN PAIL EoJ'RCHY
| WILLIAM =. CLYDE ISAAC ROBERTS
| JOSEPH II. OGLESBY.
| ARTICLE XII