New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-08

Total. ACKNOWLEDGEMENTS. $3.50 el!0OOO
And it is contemplated and agreed that for the
purpose OF extending said road through the city
q! CaTEOllton bOOks OF subscription shall be
one hundred and fifty thousand dollars, divided
INTO three thousand shares OF fifty dollars each.
which shall be paid up by the subscribers in such
installments, manner. terms and conditions as the
Board Of Drec tors shall determine by resolution
And soon as the same shall have been subscribed
and tie right OF way in CaIrolltOn shall have
been obtained, the capital of said company shall
be actually and defDitively increased to inc ude
said additional sum. thereby making the total
thousand dollars, divided into five thousand two
hundred shares of fifty dollars each.
The Board of Directors shall have power 20 es.
tabsh rules and bylaws. according TO which any
share shares upon which any installment shall
remain overdue thirty days shall! be either Cor.
feited to the company or sold for account Of the
GelnCuent No certificate Of stock shall be issued
INIT! the full! amount thereOfis paid, and all trans
ie,s shall! be made according to the rules and by.
Jaws to pc established by the Board Q! Directors
ARTICLE VI.
The roa,d Of Directors shall be composed OF the
eeven above named Stockholders. who shall imILe.
and duties aud continue in office Till their sucees.
''' ''' ARTICLE VII.
On the frs. Monday in Nav, 1854. .nd an1 ual y
thereafter, there shall be an election of the seven
dire ctors by the Stockholders such elections shall
be held at the office OF the company, and notice
thereo; shall! be given by publication ia at least
two daily newspapers, published in the city Of
New Orleans, for not less than ten dzDs previous
thereto.
At ali elections or general meetings OF the stock
holders each stakeholder shall be entitled to one
vote for every share of stock owned by him, and
to east the said vote in person or by proxy; and,
except when otherwise required BY Law. a ma
:Orty OF the votes cast ska1 decide sN cleo
!icus .uestiOns.
in elections the vote shall be- by ballot, and
under the superintence OF two stockholders ap.
ID n.
pointed should refuse fail 10 attend, tho Prtsi
dent shall appoint others in their stead. OF il the
ment. il may be made by a majority Of the stock
holders present at the opening
II i:cn any cause an e!ectlOp should fal on the
day appointed the President shall forthwith call
other meeting at ten days notice, - above pro.
vided for the purpose of sfsctlng sad election,
ma oritv Of the number of directors shall be had.
Such majority, when elected, shall meet the
first .onday following theiI eectiOn. and proceed
for in the next article ia ease of vacancy. aud to
oIgan..e cy the election OF q President.
ARTICLE VIII.
ne Board Of Directors .hali meet on the next
Monday following their election, AID al their first
meeting shall elect a President from one OF theiY
numGer who shall be also President OF said COM
pany. In of the absence, direct interest il =
question other inability of tie PRECEDENT to act,
the Beard shall elect President pro tempOre, who
.ha , exercise all the pOwtls and fnfli all the
sumo his functions or be replaced ma Ority OF
the members Of the Board, counting the President
or President pro tempOfe as one, shall constitute a
quorum and the vote of a ma jo1lty of such quorum
shall constitute q valid corporate act.
They shall have power to IL! by election any "a.
cancy that may occur N Their own number be-
define their duties fix theiI salaries and the amount
of their bonds. enact such bylaws, regulations
rules and ordinances as they may deem necessary
70, the good government and welfare and support
of the corporation, and OF its affairs ard property
and may delegate to the President OK 20 commit
tees of their own body. or to officers agents at.
rorneys in out of the State, such powers as they
may deem eXpedieut and not Inconsistent with the
corporate powers of the company; II officers, en-
ployes servants Of the comI any shall be feInov
able at will, except the President. Each Board OF
Directors shall hold until their sSclessors are
duly elected and organized
ARTICLE TX.
No stakeholder in this corporation shalt ever be
held liable OF responsible for the contracts OF
faults OF z company in any further sam than the
unpaid balance due to the mpaLy or the share!
owned by him, nor shall any mere lnformality il
charter null, or of exposing a stoCkholdeY to any
liability beyond the amount of his stock.
ARTICLE x.
This CORPORATION shall 60 INTO operation immedi
ateiy and this charter shall endure and continue
for the term of twenty five wears from this date
but said charter may he amended modified or dis
solved by the consent of the holders of three
fourtbs of the stock represented at general meet
ing convened for that purpose. Such meeting MAJ
be called by a vote OF five membe OF the Boar
u Directors, or at the reques: L writing of stock
holders holding one-third OF The number of ehare
issued and outs standing. TLiltv days previous nc
tee by publication in at !eas. TWO daily lewspa
I,eys published in this city, anal lie given OF suc
meeting, and the genera! object thereof whethe
| to amend OF 10 dissolve, Ella. se s..teG il sue
notice.
| The votes Of 'he stockholders 10Y er cai:st an
proposition to amend or dissolve snail Ue reco.de
in writing and the lists &c! .sco.d.rg such vote
han no q -ah IN n loo. - a q r,v
appointed IJr the4,en. ra! meeting. should three
l fourths in amount of the whole Lumber IF share
vote Tor any proposed measure TIC lists Nay imm'
| diately bs closed.
ARTICLE Il.
The liquidation Of ,he affairs Of .ne co,per,. ,o
whether dissolved bv limitation 0: by vote O! Il
| stockholders, shall be made ~ ;L;ee Commission
! ers elected by the stock holders from among che
| own members. If the liqulda.io.. taxes place
limitation of the charter, said Commissioners sha
! DO eIected on tine day hx.u for tie last election
directors; and If it faAes place II consequence o!
vote OF the stockholders then they shall be elect.
| at meeting called within five days after the clio
I ing Of tne vote, and after due publication Of 4
I days notice in at leas, two daily newspapers pr
! lshed III New Orleans.
| rRissoners shall be fixed and the terms an mo
| of liquidation shall be determined at the meeti
1 at which they are elected by majority OF t
| stock present or repre- seEted. The general me-
! ing may authorize the commissioners TO sell l
] property and franchises Of the company il block
| This done and passed in my Office, a. Che "a
1 city OF New Orleans, II The nre sence OF Martin
Ainsw0rth and Theodore Hermann KOck, witness
! Of lawful age, and doU.ciiiated III this city, "
/ hereunto sign their names, together Wall the 9
| the month Of May, in the year Of oux LORD q
1 thousand eight hundred and seventy three.