New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-25
CORPORATIONS.
4 h'.''''.'.....'........& CHARTER
STATE OF LOUISIANA
PARISH OF oRLBzSS, CITY OF NEW oRbEsss

4 enh..-''.. CHARTER,
STATE OF LOUISIANA
PARISH OF oRLBAFSS, CITY OF NEW ORLEass,
Be it known that on this fwenty-fourth day Of
1iio niol.n 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 nlnety-seyenth, before me, Armand Pilot
Jr. notary public duly commiss, oned and sworn
IN and for the parish and city aforesaid, therein
residing and in the presence OF the wtne sses here
lDafter 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 thtIlst Ives into a corpora
ton for the objects and purposes and under the
stlpnlatlons. regulations and obligations following
TO witt
ARTICLE
The name Of the company shall be the "Tew Or.
leans and Grand Ecore Packet Company" and its
dOmlclie IL hereby established il the city OF New
Orleans, and it shall exist and continue for the
presents unless sooner dissolved. The company
shall have seal. having Tor inscriptions the name
Of the company.
The operations OF said company shall be the pur-
chase, or building, charteping OF one or more
steamboats, and the carrying Of freight or pasSen-
gers, or both. on sail boats. up and down the Mis-
slssippi civsr and Red river and tributaries
ARTICLE III.
The capital stock of said company Is hereby
hAoi dI lHe sum OF one hundred Thousand dollars,
uiVioed INTO shares of one hundred dollars each,
10 oe PAID tor as follows to wit: thirty per cent as
aon as the company goes into operation, aud the
nllance IN lnstallments of ten per cent upon the
call OF the Board of Directors as the necessities of
me company may require il. This company shall
20 INTO operation as soon as the sum Of forty
thousAno ooilals Is subscribed for.
ARTICLE ".
The affairs of the said company shall be under
the direction of Board of Control composed Of
possessing in he'll
thai of the firm of which they are partners not
less than five shares of the stock of the co mpany
ARTICLE
SRCrIoN l. The regular meeting of the stock
holders shall be held annually the third Monday
OF october, az which meeting ma Orify in capital
stock, repre- ented at the meeting shall choose
five of the menfoers to serve as directors for the
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 or
ganize into board by appointing one of their
members as president he b ard thus or
ganzed shall have power to appoint all officers
or agents and fix their res ectIve cOmpensations.
The board shall also appoint a secretary, whose
DIT ty independent of others that might ascrihed
10 him. shall be to at end the meetings of the
boa'd, and keep correct record of their proceed
ings.
SIC. 2. A failure to elect directors as aforesaid,
shall dissolve the corporation but the board in
office shall continue to exercise the functions until
a new board can be elected.
SIC. 3 Three mbers of said Board of Control
sHhll constitute u quorum Tor the transaCtlOQ of
business, and the said board is hereby invested
with fIl power to frame aud adopt such bylaws
rules ana regulations as they may deem requisite
sdld III cessary for the company and the transac-
tons of its affairs, provideI the same shall not
conflict with the true intent and meaning IF this
act OF Incorporation or the laws of this state.
They are hereb authorized to buy, sell and charter
steamboats,, fuel for the of the company, to
make contracts, leases, mortgages, hypotheca-
tons and compromises; to- borrow money and to
build. or cause to be built: Oy steamboats,
for said eompanyo
Size The Board of Control shal2 make divi-
dends as often as they think desirable and proper
SEC 5. 1T any member Nf said Board of Control
should cease 10 be ckbolder during his term
OF service his Office shall then ebv, ipsO factO be-
come vacant. Aud bn the event of the death, per-
Hahent absence, or resignation, "a vacancy from
" huttVer cdust) of any member Of said Board of
'ohlro tho o"drtl shaLI nave power 10 NIL yacan-
ce'' occasioned thereby until the first regular
meeting thereafter OF the stockholders of the said
company fog the elestlon OF officers OF the com.
panyo
SIC. 6. The Board Of Controf s.lalY meet monthly
Tor the transaction .,f business, and the president
may call them f0gethe, At any Zine BY giving
VENT four hours notice in writing
SEC. :. No two partners whose subscriptions arc
N the name Of their commercial firm shall be eli
( bic ct The same time as members 81 the said
lSari.
SECTION 2. II shall be ihe duty of tn, presiaer
" SAID company to keep, or .Ius. to b. kept in
bound books, il the gamr Of he cOmpsny n cor
'"ct rvcOrd'Ot all its pruccedu gs TRANSACTIONS &C.
counts prop rty, business aHd affairs, as well as
ul and complete del allied accounts of the receipts
AMI disbursements thereof He shalt moreover
icc as the treasurer of the COMPANY and keep a
FASH account i'll one of the banks IN New Orleans
ubject to the approval OF th. Board of Control in
hr name and Tor account of the company, and to
% alone authorized and empowered to draw
'htckS and transact all banking business thereof.
Ehc PR sdent Of the company is the proper person
ii! whom citation shall be served
ARTICLE VII.
when The period arrives from any carsc for the
winding up of the concerns of this COMPANY three
tockhOld rs shall be selected by IL majority of the
oc} holders ut a general mertIng whOse duty it
hail be to convert all the assets of the CORPORA
ion into cash, and after The pa, mrnt of the labil.
tIss Of the company, disbursc the surplus funds
uonS tn stoc khoiderS III proportion TO their TO-
p<sctIve ShaIea
ARTICLE VIII.
40 stakeholder shall ever be held liable or resbon
ible for the contracts faults Of the company |
eS Oud the amount OF his stock in said COMPANY, |
ARTICLE k
For the purpose OF starting and putting The com.
any into operation, the following named stock. |
nldeis. to wit: John G. Mitchell, ESQ Michel Die
rich, Esq, Horace X. Shropshire, ESQ, JOHN A. |
Esq. and George W. Tucker are consti- |
uted temporary Board OF Control whose tenn of |
flee shah expire soon their Successors are |
lected and have qualified.
ARTICLE Y
The names and respective interest Of the sub |
cribers 10 this act and the amount of their re- |
Jws:
MIN G.. Mitchell Charles n Rrnwn