New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-06

AG1aI. Z-GD OliUttt
And it is contemplated AID agreed that for the
purpose OF extending said Ioad through ehe city
OF CaTrollton. books of subscription shall be
opened to increase said capital by adding thereto
one hundred and fifty thousand dollars, divided
into three thousand shares OF fifty dollars each
which shall be paid up by the sGbscrl bers iii such
instal!ments. manner terms and conditions as sae
Board OF Directors shall determine by resolution
And soon as the same shall have been subscribed
and the right OF way in Carroiiton shall nave
been obtained. the capital Of said company 5ha j
be actually ard deEnitively increased to inciuGe
said additional sum thereby making the total
capital Of said company two hundred and sixty
Thousand dollars. divided into five thousand TWO
hundred shares Of fifty dollars each.
The Board of Directors shall have power TO es-
tablIsh rules and bylaws, according 10 which any
share or shares upon which any iLstallmeue shah
remain overdue thirty days shall be either for
teited to tie company or sold .or account Of the
delinquent. No certificate O. stock shall be issued
untl the full amount thereof is paid and ali trans
teIs shall be made according to the rules and by
laws to be established by the Boa1d u Directors.
ARTICLE u.
Tie Board Of Directors shall be composed Of tie
seven above named stockholders, who shall mme-
dately enter upon the exercise OF their powers
and duties, and continue in Office till their success
sOIs are elected.
On the first Monday in May, 1874 and annusl,y
thereafter, there shall be election ste seven
directors by the stockholders such elections shall
se he'd at the Office OF the company, and notice
two daily newspapers, published ia the city of
New Orleans, for not less than ten days previous
thereto.
Al all elections or general meetings of .he stock
holders each stakeholder shall be entitled to one
vote for every share of stock OWED by him, and
to cast the said vote in person or by proxy; and
except when otherwise required by law. ma
jorlty of the votes cast shan decide al cleo
tiqDs or questions .
under the superlntencs CT two stockholders ap-
pointed by the board or if the persons thus APP
pointed should refuse or fail to attend, the Pres
dent shall appoint others III their ste ad Oh if the
President is absent or omits to make the appoint
Inert, if may be made by majority Of the stock
holders pIese ut at the opening.
II from any cause all election should fail on the
day appointed, the President shall forthwith call
al other meeting at ten days notice, above pro-
and continue to do so until a valid election of a
majority of the number of directors shall be had.
such majority; when elected shall meet on the
first Monday following they election, ard proceed
TO I'LL up their numoev by e'e Ction as provided
for in the Ltxt article III case of vacancy, and 20
organize by the election OF President.
ARTICLE VIII.
The Board of Directors sha:l meet on the next
Monday following their election and at their first
meeting shall elect a President froY one of their
nj nber, who shall he also President OF said com
pany. In case OF the absence, direct interest in a
question other inabilit of the Mt to act
The Board snail EJECT President pro tempoIe, who
sha exercise all the powers and fulfill al the
duties of the President until the latter shall re-
sumo his functions or he replaced. majority OF
the of the Board counting the Pres dent
or President pro tempore one shall constitute a
quorum, AID the vote Of ma jority of such quorum
shall constitute valid corporate act.
They shall have power to ill by election any va
cancy that may occur in their own number be
tween regular elections they snail elect all ottic
define their duties fix theiI salaries and the amount
of their bonds enact such bylaws regulations
rules and ordinances as they may deem necessary
for the good government and welfare and support
Ofthe corporation, and of its affairs and prOperty
President tO
tees of their own body, to officers agents or at.
torney in out of the State, such powers as they
powers OF the company; all officers en-
ployes or servants of the company shall be remov-
Directors shall hold over until their successors are
duly elected and organized.
ARTICLE TX
No stakeholder in this corporation shall ever he
held liable or responsible for the contracts of
faults OF tee company in any further sum than the
owned by him, nor shall any mere lnformality in
he organization have the effect of rendering This
,harter null, or OF exposing stakeholder to any
liability beyond the amount OF his stock.
ARTICLEX
This corporation shall 60 INTO operation immedi.
itelv, and this charter shall endure and continue
or the term of twenty five years from this date:
lut said charter may be amended modified or dis
solved by the consent of the holders of three
ouIhs of the stock represented at general meet.
ng convened for that purpose. Such meeting may
" called by vote OF five members of the Board
DIRECTORS or at Inc request. N writing, of stock
folders holding one third of the number of shares
ssued and outstanding. Thirty DAYS previous no. |
ice, by publication in at least two daily pewspa- |
ers published in this city shall be gwen Of such
Meeting, and the general OBJECT thereof, whether
o amend or to dissolve, shall be stated in such |
office.
The votes of the stockholders for OR against any
TO amend or dissolve shall be recorded |
4 writing. and the lists tor recording such votes
hail be closed IN at least ten days after the day
pponted for the general meeting. Should three
Jurth i'll amount OF the whole number of shares
ote for any proposed measure the lists may ilnme-
lately be closed.
ARTICLE XII
The liquidation of the affairs of the CORPORATION |
neither dissolved by limitation or by a vote of the
5ockholdere snail be made by three commission |
rs elected by the stockholders from among their |
WI members. If the liquidation takes place by
imitation of the charter, said comm issioners shall
Gle cted on tine day fixed for the last election of
irectors and if it takes place in consequence of
ote of the stockholders, then thew shall be elected
meeting called within five days after the clos
e of the vote and after due publication of ten |
avs notice in at least two daily uewspanera nuh. |
shed in New Orleans |
Before election the COMPENSATION of said com
lssioners shall be fixed and the terms and mode |
liquidation shall be determined at the meeting |
Mhlch tney are elected by majority of the
Ock present or represented. The general meet |
g may authorize the commissioners to sell the |
Operty and franchises of the company in block
This done and passed in my office at the said |
ty of New Orleans, IN the presence Of Martin L. |
and theodore Hermann Kock witnesses |
reunto sign their names, together with the par.
- and me, the said notary, on this sixth day of
9 month of May, in the wear of our Lord one |
ousand eight hundred and seventy three.