New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-23
CORPORATIONS,
4 'nAhIEh. .'....................CH CHARTER.
STATE of LOUISIANA
PARISH OF ORLEANS, CITY OF NEW ORLEANS

~ LpOio1aNa
PARISH OF ORLEANS, CITY OF NEW ORLEANS.
Be il known that on this twenty-fourtb dav NJ
the month Of December in the year of our Lord
one thousand eight hundred and severty-two and
OF the Independence OF The United States of Amer
lea the ninety-seventh, before me- Armand Pilot.
Jr., notary public duly counmiss 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 10 form themselves into a corpora.
ton for the ebiecta and purposes and under the
sti9u:ations. equations and obligations following,
to vii:
The name of the company shall be the New Or
leans and Grand EcOTe Packet Company" and It's
domiciie is hereby established i'll the city of New
Orleans and il 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.
ARTICLE II.
The operations CT said company shall be the pur-
chase, or building, Oh chartering OF one or more
STEAMBOATS,, and the carrying of freight or pas
gers, or both, sal boats. up and down the Mis-
sissippi river and Red river and tributaries.
ARTICLE III.
The capital stock of said company is hereby
fixed al the sum Of one hundred thousand dollars,
dlvIGed INTO shares of one hundred dollars eac a,
to be paid for as follows to wit: thirty per cent
soon as the company goes into operation, and the
balance N miscellaneous of ten per cent upon the
call of the Board OF Directors as the necessities of
the company may require il. This company shall
60 INTO operation as soon as the of forty
Thousand dollars is subscribed for.
ARTICLE ".
The affairs of the said company shall be under
the dive elton OF a Board of Control cumposed of
five stockholders, possessing in their own name or
that OF the firm OF which they are partners not
less than tive shares of the stock of the company
ARTICLEv V.
SECTION l. The regular meeting of the stock.
holders sh ali be held annually the third Monday
or October, DIT which meet ny ma. Ority in capital
stock, represented at the meeting shall choose
five OF the members to serve directors for the
ensuing yeaT. At such election each share of stock
shall he entitled to one vote, and the directors
elect shall within five days after their election
ganize into d board by appointing one of their
members as president. he b, ard thus
gained shall have power to appoint all officers
or agents and fix theig' res. eCtlve COmpensatons
he board shall also appoint a secretary, whose
d. ~ independent OF others that might be ascTibed
10 him shall DO to at end the meetings of the
boa d, and keep correct record of their proceed
ings.
SEC 3. o failure to elect dire ctOrs as aforesaid
shall Mt ssolve the corporation but the board III
office shall continue to exercise the functions until
a new board can be elected
SEC. 3. Three 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 tor the company and the transac-
tiOns of its affairs, provideL the same shall not
conflict with the true intent and meaning IF this
act of incorporation or the laws of this State.
They hereb authorized to buy, sell and charter
steamboats,, fuel for the use of the company, to
make contracts leases, mortgages, hypotheca-
tons and compromises; to borrow money, and to
build, cause to be built more steamboats,
for said company.
SEC l. The Board of Control shall make divi-
bends as often as they think desirable and proper
SEC. s. If any member of said Board of Control
ha -lT1,I
OF service, his office shall thereby psO facto, be-
come vacant. Aud in the event of the DEATH per
manent absence, or resignation, Ia vacancy from
whatever cause) of any member of said Board of
Control the board shall have power to I'LL vacan-
ces ocGasioued thereby until the first regular
meeting thereafter of the stockholders of the said
company foI the election of officers of the com
pany.
SEC. G. The Board of Control shall meet monthly
'or the transaction of business aud the president
may call them together at any time by giving
VentJ four hours notice in writing.
SEC. I. No two partners whose subscriptions
i the Name of their CONNER cial firm shall be eli
g.. hle az tho same Time as members Of the said
beard
S,crIos 2. II shall be the duty of the presiden
OF said company TO keep, cause to DO kept, i'll
bound books, in the name of the company,
rect record OF all its proceedings, transactions
counts propt rty, business and affairs as well as
full and complete detailed accounts of the receipts
and disbursements thereof. He shall, moreover
act the treasurer of the company, and keep a
ubircU to the approval OF the Board OF Control in
I Ia. name and for account of the company. and TO
be alone authorized and empowered to draw
checks and transact all banking business thereof
The president of the company is the proper person
90 ~AoR citation shall be served
aRTICLE VIB.
Whom che pt giod arrives FROM ANY cause for the
winding up of the concerns of .fis company, three
stock hul1ers shall be selected by majority of the
S och holders at general meeting, whore duty it
shall be to convert all the assets of the corpora
ton into cash and after the pa' ment of the liabl
ftes of the company, dsburSe the surplus funds
among the stockholders in proportion to their re-
spsctiv0 shaTeA
ARTICLE viz.
go stakeholder shall ever be held liable or respon
s bic for the contracts or faults OF the company
De ond She amount OF his stock i'll said company.
ARTICLE TX
FOR the purpose Of starting and putting the com
pany into operation the following named stock
holders to wit John c. Mitchell, tsq Michel Die
trich Esq, Horace E. Shropshire, Esq, John A.
" ilams Esq, and George W. Tucker are consti-
tuted temporary Board of Control whose term of
Office shall expire as soon as their successors are
elected and have qualified.
ARTICLE X.
Tire names and respective interest Of the sub
scribers to this act and the amount of their re-
spective shares are hereby declared 80 10 as fol-
lows.