New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-12-27

8TATB IF LOUISIANA.
PARISH or ORLEANS, CITY OF NEW ORLEANS.
-ihe month of December. in the year of our Lord
one thousand eight hundred aud seventy-two and
OF the Independence of the United States of Amer.
IC" Inc ninety -seventh, before me- Armand Pi OF,
Jr., notary public duly c0mmiss oned and sworn
IN ana Tor the parish and city aforesaid, therein
residing anu IN the presence of the witnt ssps here
matter named and undersigned, personally came
and appeared the persons whose names are herein
alter subscribed who declared that thew agreed
and COvenanttd, and do by these presents agree
aud covenant TO form theIase Ives into COrf0ra.
ton for the object, and purposes and under the
htlPuidIiOh5I regulations and Obligations following
to Wit:
ARTICLBL
The name of the company shall be the New Or.
doniic''e Is @laIeby established in the CITY Of New
Orleans, and it shall exist and continue for the
term OF twenty live years from the date Of these
presents unless sooner dissolved. The Con,Danv
shall have seal having for inscription the name
of the conn any.
ARTICLE II.
The operations of said company shall be the Dur
chabV, or OlIdlng or charteriug OK ono or more
steamboats, and the carrying IF freight or ragt on
gers, OF both on sill boats. up and down the Mis-
BlSsippl 1lYer aud Bed river and trbutarieB.
ARTICLE III.
The capital stock of said company Is hereby
liked at the sum of Que hundred thousand dollars
divided into shares of one hundred dgllars each
to DC paid tor IS follows to witt thirty per cent "a
soon as tho company goes into operation, and the
Daiaucc IN uet<blImenls of ten per cent upon the
call OF the BOlrd of Directors as the necessities of
the company may require il. This company shall
go INTO operation as ;he sum of fOrtv
Thousand dollars IS subscribed for.
ARTICLE ".
The affairs OF the said company shall he n,dar
the direction Of Board OF Control composed of
I'VE stock holders, possessing in their name or
I lat OF the firm OF which they are partners not
i6eH tuAh HVS 9harGS OF the stock of G. nlDa
ARTICLE V.
SRCTIoH l. The regular meeting Of the stock.
holders shall be held annually on the third Monday
or october, at which meeting a ua GRITTY in captal
stock, represented at the meeting, shall choose
I'VE OF the mamber5 TO serve directors for the
ensuing year at such election each share of stock
snail be eht tied to one vote, aud tne directors
ganize into board by appointing one of their
members as president. The b. ard thus or
gained shall have power to appoint all officers
or agents and Tx their res CCtIve compenBatOug
! he board shall also appoint secretary whose
duty independent Of Others that might be ascribed
70 MN. email be to attend the meetings of the |
ooa a. and keep correct record OF their proceed
SIC. 2. failure to elect directors as aforesaid. |
Sn;ell dissolve the corporation but the board in
office shall continue exercise the functions until
new board eau he elected.
bBC. J. Three m mbeIs of said Board of Control /
snail constitute quorum for the transaction of |
business, aud the said board is hereby invested !
WITH tut power to frame and adopt such by-lawp
sHd necessary for the company and the transac
1ohs OF its affairs, prOvdel the same shall not
CONNECT with the true intent and meaning If this
1Gt OF incorporation or the laws of this State |
hey are hertb authorized to buy sell and charter |
Ieam0oats, fuel tor the of the company to |
make contracts. Leases mortgages, hypotheca- |
IONS and compromises to borrow money, and to
uld, or cause to be built, one more steamboats,
or SAID company.
SIC. 4. he Board of Control shall make dfvi- |
eno5 as often as they think desirable and proper.
nEC D. II any member of said Board of Control
n afO rf=y,tI
service, his office shall thereby ipso facte be. |
ONE vacant And in the event of the death per
lament absence, or resignation "a vacancy from
hakt EeI causel OF any member Of said Board of
ontrol the board shall have power to fill vacap-
,es 4 9cca9ioned thereby until the first regular
eeuuS thereafter OF the stock holders of the said
lHpahY for the election Of officers of the com.
any.
SEC. 6. The Board of Control shall meet monthly
u the transaction of business aud the president
ay can them together at any time by giving
Feuty four hours notice in writing
SIC l. NO two partners whose subscriptions are
, me name OF their commercial firm shall be eli
De al the same time as menroers OF the SAID
ARTICLE vi
sEcTIoE l. 1t shall be the duty Of the nresdert
sad company to keep, or cause to be kept, in |
una OOoks, III the name of the company cor- |
CT record OF all its proceeding s transactions ac-
it'i.': PIop'itSI DusliebS Had affairs, well as
IL and complete detailed accounts of the REGENTS
q disbursements thereof He shall moreover, |
I as TIE treasurer of the COMPANY and keen a |
.sh account in one of the banks in New Orleans |
oJecr to The approval Of the Board OF Control in |
name and tor account of the company, and to
aloue authorized and empowered to draw |
tcks and transact all banking business Thereof.
e pr 5ideut Of the company is the proper persoa
shom citation shall be served
ARTICLE VII. :
I" zen the period arrives from au7 cause for the
nolhS up OF the conc rms of this company three
cAhold' rs shall be selected by a majority OF the
~ holders at general meeting, wioEe dutv it
III De to convert all the assets of the CORPORA.
n mic cash, aud after the pa neut of the liab4l,
IS OF the company, disburse the surplus funds
oQg the stockholders in proportion to their Te-
ARTICLE VII. t