New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-12


signed, personally came and appeared the
several persons whose names are hereto
subscribed, who severally declared that,
availing themselves of the laws of this State
relative to the organization of corporations
for works of public improvements and for
other purposes, they have covenanted and
agreed and do by these presents covenant
and agree, and bind themselves, as well as
such other persons as may hereafter become
associated with them, to form and consti-
tute corporation and body polite in law.
under the following supulations and agree
ments, viz:
ARTICLE l.
The name and title of this corporation
shall be the New Orleans Waterwerks Com
pany. and it's domicile shall be the city of
New Orleans, in the State OF Louisiana, BY
said corporate name the SAID company
shall have and enjoy succession for the
full term and period OF twenty-five years
from and after the date OF these presents,
and shall have power and authority to
contract sue and be sued; TO make and
use a corporate seal; to hold, receive, pur-
chase, lease, mortgage, hypothecate and
ALLEVIATE or convey, under Its corporate
name, property, both real and personal, of
every description, including rights and &C
tions; to name and appoint such managers,
directors officers and employees as its inter
est and convenience may require, and to
make and establish, as well as alter and
amend, such rules and bylaws Tor the
proper management and regulation of the
affairs of said company as may pc deemed
necessary and proper.
ARTICLE III
The purposes for which this Corporation
is established and the nature of tho bust
ness TO be carried on by 1t, are declared to
be to acquire, purchase or lease, and con-
struct, maintain and carry on works to
supply the city of New Orleans, and other
cities and towns within the parishes of
Orleans and Jefferson, with ~atero
ARTICLE Plr.
All citations or other process of 9a% ebail
be served upon the president of eaid c0rpO-
rati0no
ARTICLE W.
The capital stock of this company shall
be three mill lion dollars, and be Represented
by thirty thousand shares, of the sum of
one hundred dollars each. Books of sub
scription to the capital stock of said COM
pany shall be opened by the heard of Gir8c-
tors, and the said stock shall be paid in in
stallments not exceeding ten per cent, at
such time as the board OF directors may de-
termine. Said company shall do no act under
the provisions Of this charter until fifty
thousand dollars of the said capital stock
shall have been subscribed for. At least
ten dave notice shall be given by the
board of directors by advertisements in
two newspapers, published in the city of
New Orleans, of the time and place of
payment of instaltments upon the cap
ital stock of said company, as well as
of the amount of such installment, and
any and ali subscribers to the capital stock
of said company who shall fail OF refuse
70 not. Ill ont fhaFann "a
expiration of said term of ten days, shall
forfeit unto the company all stock which
he or they may have or own, together Bith
all installments paid thereon, and such
stock shall be SeissCed and sold by the
company for its own benefit, as well as all
stock of the company, Upon such terms as
the board of directors may deem for the
best interest of the company. Each share
Of stock shall entitle the owner thereof to
one vote, on all questions and cases. OF
elections. either in person or by proSyo
aBTICLE q.
The affairs ofsaid company shat beandt z
che direction and management of q board
of directors, to be composed of five stock
holders, each of whom shall own at least
fifty shares of the capital stock of said COM
pany in his ewn name, and they shall be
elected at such time and place as shall be
named by the bylaws to be adopted by said
company A majority of the whole stock
| OF said company shall be necessary to elect,
and public notice shah be given OF the time
and place of said election by advertisement
during ten days, in two newspapers pub
lished in New Orleans. Said board OF direo
tors shall transact the business OF said
| company. and hold regular meetings at such
time as they shall fix upon. A majority of
said board shall constitute aquOrum for the
pf hnsipGaa opft shall haVa
| full power 30 make and establish,
| as well as altere amend, or re-
peal, such bylaws. rules or regulations as
| may be deemed necessary for the sgula-
| ton and management OF the buslness and
| affairs of said company Said board OF di-
| rectors shall also have power 20 buy and
| sell, lease aud hire and mortgage oS pledge
! all such real and personal property as they
| NAV deem necessary for the uses and pur-
| poses of said company, and moreover b0r-
| row money by al issue OF the bonds of the
| company or otherwise to an amount not eX-
ceeding the ca ital stock of said company.
| They shall have authority to carry into
| execution all the objects and purposes OF
| this corporation; nominate and appoint all
| officers, agents or employees fix their
| salaries and dismiss them at pleasure,
| and shall have and exercise such other and
| further powers as may be conferred upon
| the stockholders. At their first meeting
| they shall elect one of their first number as
| president of this corporation, who shall
| preside at all meetings of said board OF
| directors. ANY vacancies occurring IN thelf
| number by death, resignation or otherwise
| shall be filed by election. by the board for
! the period intervening between the occur
| renee of such vacancy and the next gen
: era! election. The first board of directors
9L,cs,, ali oil iyI
! elected under the provisions of this char
! ter shall consist OF the following named
| persons, in whom and their successors ak
corporate powers OF the corporation shall
! he vested. viz: Charles T. Howard, John
| Lockwood. Joseph K. West and 11earS Y
| Bar.iu.e!.
| SXfls.. 81.
f: # at or before the expiration az ths tern
! Of twenty-five gears herein fixed iOr tht
| duration at said company, 81. OF more OF
! the stockholders holding = majority IN
amount OF the capital stock of this corpora
. ton, shall desire to renew the charter OF
| this corporation ior further t!mes and any
| stakeholder should be unwilling to renew
| the same, those stockholders that may be
| SO unwilling to renew the same shall be
| bound to transfer the shares OF stock held
! by them 10 those desiring renewal or ex
. tension of this charter, at the market value
OF the said stock, or u the said stock should
not have known market value at that
period. the value thereof shall be fixed by
| two appraisers, one 30 be chosen by the
stockholders desiring to renew the charter
! of this company. and tue other to be
. chosen by the stockholders who may be
| Unwilling o. renew the same; and IN the
| event of disagreement between the two
appraisers SO chJsen. then said appraisers
shall choose an umpire whose decision shall
be final. Should this charter not be re
newed Rs above provided for. then on the
fourth Monday before the expiration OF the
term Of twenty i've years, OK ii sooner de
. termine,! upon. q general meeting of the