New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-10
CORPORATIONS.
QUARTER. ................. CHART
STATE OF LOUISIANA.
PARISH oP ORLEANS, CITY OF Naw ORLEANS.

Be it known that on this twensy.fourth day OF
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
ica the ninety seventh, before me, Armand Pilot,
Jr, notary public duly eommissl 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.
and cgvsn8nted, and do, by these presents, agree
and covenant to form theEast Ives into = corpora.
ton for the objecte and purposes, and under the
stipulatons regulations and Obligations following,
TO wit:
The name Of the company shah be the New Or
leans and Grand Eoore Packet Company" and its
domicie is hereby established in the city of New
Orleans, and 1t shah exist and continue for the
term OF twenty five years hom the date OF these
presents unless eOoner dissolved. The company
shall have seal, having for nsoT f,tion the name
of the COMPANY.
The operations of said company shah be the Pur-
chase or Building, or eharterina of one OK more
steamboats, and the carrying of freight or passen-
gers or both, on said boats. up and down the Mis-
sssippi river and Red river and tributaries
ARTICLE I'll.
The eapital stock of said company Is hereby
fixed at the sum OF one hundred thousand dollars
divided into shares Of one hundred dollars each,
to be paid Tor follows to witt thirty per cent as
soon rs the Company goes into operation, and tne
balance in instaliments of ten per cent upon the
call of the Board of Directors as the necessities Of
the company may require it. This company shau
go into operation AZ soon as the sum OF forty
thoHsa nd dollars is subscribed foT.
ARTICLE ~.
The affairs of the said company shall be under
the direction of Board of Control, composed OF
i've stockholders, possessing in their own name or
that Of the firm OF which they partners, not
less tnaA i've shares Of the stoek Of the mpany.
ARTICLE V.
SECTION The regular meeting of the stock
holders shall be held annually OIL the third Monday
OF October aJ witch meeting ma uriy In capital
stock, represented at the meeting shall choose
five OF the members to serve as directors for the
ensuing year At such election each share OF stock
elect shall, within five days after their election or
ganise into a board by appointing one OF their
gani8ed shall have power to appoint all officers
or agents and fix their res, ectIse sompensations
1he board shall also appoint secretary, whose
to him. shall be to attend the meetings OF the
boa d, and keep correct record OF their proceed
ings. -
SsO. Q. A failure to elect directors, aforesaid
shall n dissolve the corporation, but the board IN
office shall continue to exercise the functions until
new board can be elected
sBG. ,. Three mbers of said Board of Control
shall constitute quorum for the transaction OF
business, and the said board Is hereby invested
with fai power to frame and adopt such by-laws
rules and regulations as they may deem requisite
tions of its affairs, provided the same shall not
conflict with the true intent and meaning ST 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, hypothecs
tions and compromises to borrow money, and to
build, cause TO be built, one or more sIeamboa
for said com pany.
SEQ. A. The Board of Control shall make divi-
dends often as they think desirable and proper
SEQ s. II any member of said Board Of Control
should cease to be a stOckholder during his term
of service, his office shall thereby, ipso fseto be-
GENE vacant. And in the event of the death, per-
mauent absence or resignation, "a vacancy from
whatever eause) Of any member Of said Board Of
Control the board shall have power to I'LL vacsn-
cies oeessioned thereby until the first regular
meeting thereafter of the stockholders OF tho said
company for the election OF officers OF the COM
SEQ. 6. The Board of Control shah meet monthly
for the transaction of business. and the president
may call them together at any time by giving
twenty. four hours notice in writing.
SEC. I. No two partners whose subscriptions are
In the name Of their commercial firm ehai be ell
gble at the same time as members OF the SAID
board
sKorIos J. 1t shan be the duty Of the presiden
OF sald company to keep, or cause 10 be kept, In
bound books in the name of the company, a cor
rect record Of all its proceeding g. transactions, &C.
counts, property, business and aaars as we'll az
fa ard pete del allied accounts Of the receipts
aid disbursements thereof He shall, moreover
act the treasurer of the company, and keep
eash account in one Of the banks in New Orleans,
the came and for account of the company, and to
be alone authorized and empowered to draw
chry ke and transact all banking business tnereoi
The M. sident of the company is the proper person
o. whom citation shall be served
ARTICLE VII
When the pr Rod arrives from any cause for the
winding mp OF the cOnse rms of this company, three
stoee b.lders shall be selected by majority of the
8 oc holders at general meeting, whore duty it
shal - 10 convert all the assets OF the corpora
ton il, cash, and after the pay ment of the fabil
itles OF he eeIaPany disburse the surplus funds
among tit. stockholders in proportion to their re-
spective sllGre&
ARTICLE VIII.
No etockho}der shall aver be held liable or reSpon
sible for the con racts faults of the company
beyond the amount OF his stock IN said company.
ARTICLE TX.
For the purpose OF starting and putting the oom-
pany into operation, the following named stock
holders to Wit, John @. Mitchell, Esq Michel Die
.rieh, Bsl;, Horace x shrogshire. Bsq., John A.
tuted a temporary Board OF Control, whose term Of
office shall expire soon as their suecessors are
elected and have qualified.