New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-15
CORPORATIONS,
( AfARTER. ......................C CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF NEW ORLEANS

ton for the objects and purposes, and under the
stipnatons, regulations and obligations following
to wit:
The name of the company shall be the New Or
leans and Grand Ecore Packet Company and It's
domicle Is here by established in the city of New
Orleans, and it shah exist and continue for the
term of twenty-five years from the tate 81 ftfese
presents, unless sooner dissolved The company
shall have a seal having for INSCRIPTION the name
INV ARTICLE II.
The operations OF said company shall be the pur'
chase, or building or chartering of one or more
steamboats, and the carrying of freight or passeu-
gers or both on said boats. up and down the Mis-
sissippi river and Red river and tributaries.
ARTICLE III.
The capital 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 for as follows to wit: thirty per cent as
soon as the company goes into operation, ana tne
balance in Installmsnts of ten per cent upon The
the company may require it. This company shau
go into operation soon the sum OF forty
thousand dollars Is subscribed for.
ARTICLE ".
fhe affairs of the said company shall be under
the direction of a Board of Control, composed OF
five stockholders possessing in their own name, or
that of the firm of which they are partners, not
less than i've shares of the stock of the company.
ARTICLE V.
SECTION I. The regular meeting of the stock
holders shall be held Annually on the third Monday
OF October, at which meeting majority IA capital
stock, represented at the meeting, shall choose
five of the members to directors for the
ensuing year. At such election each share Of stock
elect SHALL within FIVE days after their election,
ganize into board by appointing one of their
members as president The board thus or
ganized shall have power to appoint all officers
agents and fix their respective compensations.
The board shall also appoint a secretary whose
duty independent of others that nigh be aserbed
to him. han hA Tn at nj
board, and keep correct record OF their proceed
ings.
shall dissolve the corporation, but the board in
office shall continue to exercise the functions until
new board can be elected
SEC. ,. Three III 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 they may deem requisite
and necessary for the company and the transac-
tions OF its affairs, provided the same shall not
conflict with the true intent and meaning of this
act of incorporation or the laws Of this State.
They hereby 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, one or more steamboats,
for said company
t SEC. i fh5 Board Eff GeHtrel shall make dlvi-
bends often they think desirable and proper.
SEC. ). If any member of said Board of Control
should cease to be stakeholder during his term
OF service his Office shall thereby ipsO facto, be-
come vacant. And 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 fill vacan-
cies oCcasOned thereby until the first regular
meeting thereafter OF the stockholders of the said
company for the election OF officers of the com
pany.
for the transaction of business aud the president
NAV call them together at any time by giving
twenty four hours notice in writing
SEC :. 80 two partners whose subscriptions are
in the name of their commercial firm shall be eli
gible at the same time as members OF the said
boarA -
SECTION 2. 1t shall be the duty of the presiden
of said company to keep, OF cause to be kept, in
bound books, in the name of the company, a cor
rect record of all its proceedings, transactions
counts. property business and affairs, as we'll as
full and complete detailed accounts Of the receipts
and disbursements thereof He shall, moreover,
asst as the treasurer of the company, and keep Il
cash account in one of the banks in New Orleans
subject to the approval Of the Board of Control in
the name and for account of the company, and to
be alone authorized and empowered to draw
checks and transact all banking business thereof.
The pre- sdent OF the company is the proper persoh
Oh whom citation shall be served
ARTICLE VII
when che 3sariod arrives from any cause for the
winding mp of the concerns Of this company, three
stoC khOders shall be selected by majority of the
sfoce holders at a general meeting, whore duty it
shall be to convert all the assets of the corpora
ton into cash and after the pay ment OF the liabl
tiles OF the company, dtsburse the surplus funds
among the stockholders in proportion ts their rs
spectSvS shares. - = 1880
ARTICLE Wiz.
No st0eRholder shall ever be held liable or respon
sible for the contracts or faults of the company
beyond the amount Of his stock GA said company.
ARTICLE ".
Sor the purpose Of starting and pIrgtng the com
| pany into operation, the following named stock
holders to wit: John c. Mitchell, Esq, Michel Die
| trich Esq, Horace Z. Shropshire, Esq, John A
| Williams ESQ., and George W. Tucker are consti
} tuted temporary Board OF Control, whose term Of
office shall expire as soon as thelr successors are
| elected and have qualified.
ARTICLE q.
9he aanes ana sespectivs Interest," of Che sub
scrbers to this act and the amount of their re
| spective shares hereby declared to be as fol
| lows
John C. eiitehell, Charles II. Brown.
Horace f. Shropshire. Robert Nj. Walmsleyo
George w. Tucker. r. j. c. Bachelor
| Jonn g. Mitchell, ri. II. Carver
Caspar L Dietrich. Peter VenleI1an.
Cams & Co. William N. Levyo