New Orleans Republican., 1873-05-28

And it is contemplated and agreed that for the
purpose of extending said road through the city
opened to increase said capital by adding thereto
one hundred and fifty thousand dollars, divided
into three thousand shares of nifty dollars each,
which shall be paid up by the subscribers Id such
installments manner, terms and conditions as the
Board of Directors shall determine by resolution.
And as soon as the same shall have been subscribed
and the right CT way in CarrOtou shall have
been obtained, the capital of said company shall
be actually and dehnitively increased to include
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 TO which any
share or shares upon which any installment shall
remain overdue thirty days shall be either for.
feited to the company sold for account Of the
delinquent. No certificate OF stock shall be Issued
until the full amount thereofis paid and all trans
frrs shall be made according to the rules and by.
laws to be established by the Board OF Directors.
ARTICLE VI.
The Board of Directors shall be composed o. the
seven above named stockholders. WHO shall iInne
Giately enter upon the exercise OF their powers
and duties, and continue in office 's their success.
'''' N-N 0 ARTICLE VII
On the first Monday in May, 1874, and annual
thereafter there shall be an election of the
directors by the stockholders; such elections shall
be held at the office OF the company, and notice
Thereof shall be given by publication il at least
two daily newspapers. published in the city of
New Orleans for not less than ten days previous
thereto.
At all elections OF general meetings of the stock
holders each stOckhoder shall be entitled to
vote for every share of stock owned by Kim and
except when otherwise required by law,
iOlity Of the votes cast shall decide all eiec-
tons questions.
under the superintence of two stockholders ap-
pointed by the board, or if the persons thus ap-
pointed should refuse or fail to attend the Presi-
dor Gh a StFai ii = q
President is absent or omits to make the appoint
ment, it may be made by majority of the stock
holders present at the opening.
If from any cause election should fail on the
day appointed, the President shall forthwith call
al other meeting at ten days notice, as 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 first Monday following thei1 election. and proceed
to fill up their number by election, as provided
for in the next article in case of vacancy. aIG TO
organize by the election of President.
ARTICLE VIII.
The Board OF Directors .haN meet on the mex.
Monday following their election, and at their first
meeting shall elect President from one OF their
number, who shall be also President of said com
pany. In of the absence, direct interest III a
question other inability of the President to act.
the Board shall elect President pro TEN pore, who
shall exercise all the powers and fulfil all the
duties of the President until the latter shall ie-
sumo his functions or be replaced A majority OF
the members of the Board counting the President
or President pro tempOre as one, shall constitute
quorum, and the vote of majority of such quorum
shall constitute a valid corporate act.
They shall have power to fill by election any
cancy that may occur in their own number be.
tween regular elections; they snail elect all officers
de fine their duties, fl their salaries and the amount
of their bonds, euact such bylaws, regulations
rules and ordinances as they may deem necessary
for the good government and welfare and support
OF the corporation, and of its affairs and property
and may delegate to the President, or to commit.
tees of their o: BODY or to officers agents OF st.
n lav
may deem eXpedent and not Inconsistent with the
corporate powers of the company; all officers,
poves or servants of the company shall be remov-
able at will, except the PresiGen Each Board OF
Directors shall hod unit, theIv Secesso.s are
duly elected and organized.
ARTICLE TX
No stockhoier il this corporation shall ever be
held liable or responsible for the contracts or
faults of t. e company in any further sum than the
unpaid balance due to the company or the shares
owned by him, nor shall any mere lntormalitv in
the organization have the effect of rendering This
charter null, or of exposing a stOckhOldey to auy
liability beyond the amount of his stock.
ARTICLE K.
ately, and this charter shall endure and continue
for the term OF twenty-five years from this date:
but said charter may be amended modified or dis
solved by the consent of the holders of three
fOurths of the stock represented at general meet
ing convened for that purpose. Such meeting NAV
be called by vote of five members of the Board
of Directors or at the request, in writing of stock
holders holding one third of the number of shares
issued and outstanding Thirty days eviOus no.
tice, by publication in at least two daily newspa.
pers published in this city, shall be given of such
meeting, and the general object thereof whether
to amend to dissolve. shalI be stated in such
notice.
The votes of the stockholders for or against anv
proposition to amend dissolve shall be recorded
in writing and the lists for recording such votes
shall be closed in at least ten days after the day
appointed for the general meeting. Should three
fourt lis in amount of the whole number of shares
vote for any proposed measure the lists may nlue.
diately be closed.
ARTICLE Xl.
The liquidation Of the affairs Of the eorporatioc
whether dissolved by limitation by vote OF the
stoc ckholdere shall be made by three commission.
ers elected by the stockholders from AlOng their
own members. If the liquidation takes place bv
limitation of the charter said commissioners shall
be ele cted on the day fixed for the last election Of
directors and if it takes place in consequence of
vote of the ckholkers, then they shall be elected
at meeting called within five days after the cos
ing of the vote, and after due publication of ten
days notice i'll at least two daily newspapers pub
lished in New Orleans
Before election the compensa satior OF said com.
n nssOners shall be fixed and the terms and mode
Of liquidation shall be determined at the meeting
at which they are elected BY a majority OF the
stock present or represented. The general meet
ing may authorize the commissioners to cell the
property and franchises of the COMPANY in block
This done and passed in my office at the said
city of New Orleans N the presence of Martin L.
and Theodore Hermann KOck witnesses
3f lawful age, and dOmicilia:ed in this CITY, who
lereunto sign their names, together with the par
ties and me, the said notary on this sixth day of