New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-16
CORPORATIONS.
STATE OF LOUISIANA.
PARISH OF ORLEANS, CITY OF NEW ORLEANS


Be it known'that on this twenty-fourth day o.
the month OF December, in the year of our LORD
one thousand eight hundred and seventy-two and
of the Independence of the United States of Amer
lea the ninety -seyenth, before me, Armand Pilot
Jr, notary public duly commissioned and sworr
in and for the parish and city aforesaid therein
residing and in the presence of the wtne here
matter named and undersigned, personally came
and appeared the persons whose names are herein
after subscribed who declared that they agreed
and coyenalted, and do, by these presents, agree
and covenant to form themselves into corpora
ton for the objects and purposes, and under the
stipulations regulations and Obligations following
to wit:
The name of Che company shall be tho ''Ssw Or
leans and Grand EcoIe Packet Company" and It's
Orleans, and it SHAH exist and continue for the
term of twenty five years from the date of these
presents, unless sooner dissolved. The company
shall have seal. having FOE SnscT1ptIoS tins name
y wv ARTICLs Il,
The operations OF said company shall De the pus
chase, or building, or charterng OF one OF more
steamboats,, and the carrying of freight or passen
gers, or both, Oh said boats. up and down the NILS
slsslppi ESver and Red river and trbutarsse
ARTICLE III.
rhe capital stock of said companS ie hereby
xed at the sum of one hundred thousand dollars
divided into shares of one hundped dollars each
to be paid for as follows 10 wit thirty per cent as
soon as the company goes into operation, and the
balance in installments of ten per cent upon the
call OF the Board of Directors the necessities OF
the company may require it, This company shall
go into operation as soon as ths SUM OF forty
Thousand dollars Is subscribed foro
ARTICLE ",
The affairs Of the said. company shalt be under
the direction of Board of Control, composed of
five stockholders possessing in their own name, or
that of the firm of which they partners, no
less tbaa tive shares OF the stock OF LIS company
article Y.
sKeT1o,g 2. The regular meeting Of She stock
holders shall be held annually on the third Monday
of October, at which meeting a majority in capital
stock, represented at the meeting, shall choose
ensuing year At such election each share OF stock
shall be entitled to one vote, and the directors
elect shall within five days after their election,
members as president. The board thus or
ganized shall have power to appoint all officers
or agents and fix their respective compensations.
The board shall also appoint a secretary, whose
duty, independent of others that might be ascrbed
to him. shall be to attend the meetings of the
board, and keep correct record Of their proceed
ings.
SEC .. failure to elect directors, as aforesaid,
shall not dissolve the corporation, but the board in
office shall continue to exercise the functions until
a new board can be elected.
SEC 8. Three M mbers of said Board of Control
shall constitute quorum for the Transaction OF
business, and the said board is hereby invested
with full power to frame and adopt such bylaws,
rules and regulations as they may deem requisite
and necessary for the company and the transac-
lions OF its affairs, provided the same shall not
conflict with the true intent and meaning of this
act of incorporation the laws of this State.
They are hereby authorized to buy sell and charter
steamboats,, fuel for the use of the SOmpany, to
make contracts, leases, mortgages, hypotheca-
lions and compromises; to borrow money, and to
build, cause to be built, one more steamboats,
for said company.
SEC. L. The Board of Control shall make divi-
dends often as they think desirable and proper.
SEC. S. If any member of said Board of Control
holder QnrinQ
OF service, his Office shall thereby, ipso facto, be-
come vacant. And in the event of the death, per-
manent absence, or resignation, Ia vacancy from
whate yer canse) OF any member OF said Board of
Control, the board shall have power to fill vacan-
cies occasioned thereby until the first regular
meeting thereafter of the stockholders of the said
company for the election OF officers OF the com
pany.
Tor the transaction of business, and the president
may call them together at any time by giving
twenty four hours notice i'll writing
SEC I. No two partners whose subscriptions
in the name of their commercial firm shall be ELI
gible 1T the same time as members OF tbs said
board.
SRcTioH ?. St shall be the duty of the presden
of sad company to keep, or cause to be kept, in
bound books, in the name of the company, a cor
rect record Of all its proceedings, transactions
counts, property, business and affairs, as well
full and complete detailed accounts of the receipts
and disbursements thereof He shall, moreover,
act ths treasurer of the company, and keep a
cash acCOl ~ III one OF the DaDRS IN new orleans,
ubjecU to he approval Of the Board OF Control in
the name .ud tor account of the company, and to
be alone authorized and empowered to draw
checks auu transact all banking business thereof.
The pr .aent of the company is the proSeg person
Oh b hol.. - atop shall be served.
ARTICLE SIio
Wien th. .eriod arrives from any cause SOT the
winding up Of the concerns of this company, three
sholders shall be selected by najOrity of the
ocshOldefs Ut a general meeting, whose duty it
shall be 10 nvert all the assets of the corpora.
zion into and after the pay ment of the liabl-
tiles OF the company, disburss the surplus funds
among the stock holders Incorporates to theiE AZ
SpectivS shares
ARTICLE SIli.
No stockhsldsP shall yer lie HI dlsiable or s.spon
eble for the contracts oB faults of the company
be yonS the amount Oh ms stock On said company.
ARTICLE Iys
Sof The purpose of starting and Putting che com
rany into operation, the following named stock.
holders to wit: John c. Mitchell, Esq Michel Die
trich, Esq, Horace <. Shropshire, Esq, John A.
Williams, ESQ.,, and George W. Tucker are consti-
tuted a temporary Board of Control, whose term of
Office shall expire soon as thesS successors are
elected and have qualified.
ARTICLE <.
The names and. respective interest Of rhs sub.
scTibers to this act and the amount of their re-
spectivs shares are hereby declared to be as fol.
lows