New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-18
CORPORATIONS.
STAIR Of LOUISIANA.
PARISH oP ORLEANS, CITY OF NEW ORLEANS

STAIR Of LOUISIANA
PARISH oP ORLEANS, CITY OF NEW ORLEANS
Be it known that on this twenty-fourth day of
tne month OF December, IN the year OF our Lord
one thousand eight hundred and SEVENTH two and
OF the Independence of the United States of Amer.
lea the ninety seventh, before me, Armand Pilot,
Jr., notary public duly eOmmiss Oned and sworn
in and for the parish and city aforesaid therein
residing and in the presence OF the witnesses here
matter named and undersigned, personally came
and appeared the persons whose names are herein
after subscribed, who declared that they agreed
and cOvenanted, and do, by these presents agree
and covenant to form themselves into corpora.
tion for the objects and purposes, and under the
stipalations, regulations and obligations following,
to Wit.
The name of the company shall be the New Or
leans and Grand EcoIe Packet Company" and its
dOmicile Is hereby established in the city of New
Orleans and it Shall 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 for inscription the name
OF the company.
The operations of said company shall he the pur-
chase, or building, or charteIin9 OF one or more
steamboats,, and the carrying of freight passen
gers, or both, on said boats. up and down the Mis-
slssiVpi sis.T and Red river and tributaries.
ARTICLE III.
The capifaH stock of said company is hereby
nXed at the sum of one hundred thousand dollars,
dlvlued INTO shares of one hundred dollars each
to be paid tor follows to wit: thirty per cent AS
soon ts the company goes into operation and tn.
balance n nstallments of ten per cent upon the
call OF the Board of Directors the necessities of
me company may require it. This company shall
go mo operation as the sum of forty
thousand dollaTs as subscribed for.
ARTICLE ".
The affairs of the said company shall be under
the direction of a Board of Control COMPOSED of
1--WE Stockholders, posse ssng i'll their own name or
tiia! OF the firm OF which they are partners not
los Of fI..lf IL
ARTICLE V.
SRUrIeS T. The regular meeting of the stock.
holders shall be ED ANNUALLY on he thin Monday
or october, at which meeting a ma oriry in capital
stock, represented at the meeting shall choose
five of the members to serve directors for the
ensuing year. At such election each share OF stock
shall be entitled to one vote. and the directors
elect shall, within i've days after their election
ganize into board by appointing one of their
members as president The bard thus
Ganlzed shall have power to appoint all officers
or agents and fix their les, ectlve cOmpensatiOns.
he board shall also appoint % secretary whose
duty, independent OF OF hers that might be ascribed
to him. shall be to tend the meetings of the
boa d., and keep correct record of their proceed
ings
SEC Q. failure to elect directors as aforesaid,
shall n dissolve the corporation, but the board in
office shall continue exercise the functions until
a new board can be elected.
SEC 3. Three IN mbers of said Board of Control
shan constitute quorum for the transaction of
Dusluess, ana the said board IS hereby invested
with full power to frame and adopt such by-laws
rules and regulations as they may deem requisite
and ut cessary for the company and the transa6-
tons of its affairs, provides the same shall not
conflict with the true intent and meaning Of this
act OF incorporation or the laws of this State.
They are hereb authorized to buy sell and charter
steamboats,, fuel for the use OF the company to
make contracts, leases, mortgages, bypotheca-
tons and compromises; to borrow money, and to
build or cause to be built, one more steamboats,
for said company.
SEc.4 The Board of Control shall make dvi-
dend5 as often as they think desirable and proper
SEC. j. II any member of said Board of Control
should cease to be a stakeholder during his term
OF service, his office shall thereby ipso factO he
come vacant. And in the event of the death per-
mahent absence, or resignation, "a vacancy from
whatever cause) Of any member of said Board of
Control, the board shall have power to fill yacstIl-
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
SIC. g. The Board of Control shall meet monthly
to' The transaction of business and the president
may call them together at any time by giving
sW entF four hours notice in writing.
NEC. I. No two partners whose subscriptions are
III me name of their commercial firm shall bt eli
boo 4.
ARTICLE W.
Ta.fIos 7. is shall be The duty OF the presideu
Of sd company to keep, cause to be kept in
bound books, III the name of the company, a cor
rect record OF all it's proceedings, transactions &C
counts. property. business and affairs as well as
ui and complete detailed accounts of the receipts
ana dIsbuI aemehts thereof. He shall, moreover
act as the treasurer OF the company, and keep a |
ash account 0f the banks i'll New Orleans
'ubj+c to tn, pproval OF the Board of Control in
The name and or account of the company and to |
be alone an n"rized and empowered to draw |
checks and isact al banking business thereof |
The pr side il + the company is the proper persos |
1G whom 81 s'GOn shall be served.
ARTICLE VII.
"hs's she y .lod arrives from any cause for the
winding up OF IL" .Onot OF this company three
,tOcA hold rs sha Dc selected by majority of the
Ocl holders - q neral IGeetinG, whoge duty il |
,ha be 10 1T all the assets OF the corpora.
ton into asii. after the pa, meat of tho Iiab
ties OF the COmp.i Y, dsburse the surplus funds |
among the stockholders In proportion to their re.
pee Tive shares
ARTICLE VIZ
No stacfholGer shall he held liable or respon
ble for the contracts :auts of the company
,eys nd the amount OF his ock ii, said COMPANY
ARTICLE *.
For che rurpose OF starting and putting the bonn
'any into operation, he following named stock
holders, TO wit: John c. Mitchell hsu Michel Die
rich Esq, Horace r. Shropshire, Esq, John A |
Williams Esq, and George W. Tucker are constr.
uted temporary Board OF Control, whose term of
fice shall expire as soon as their successors are
Elected and have qualified.
ARTICLE Y
The slames and respective interest of sbe suS. |
cribers 70 this ace and the amount of their re-.
pective shares are hereby declared to- be as FOL.
Ows:
ohm g. Mitchell, Charles II. Brown.
lordce +. Shropshire Robert M Walmalpv I