New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-26
CORPORATIONS.
( NhARTER... CHARTER.
STATE OF LOUISIANA
PARISH OF ORLEANS, CITY OF NEW ORLEANS.

STATE OF LOUISIANA
PARISH OF ORLEANS, CITY OF NEW ORLEANS.
Be it known that on this twenty fourth day OF
the month of December in the year of our Lord
one thousand eight hundred and seveIty-two, and
of the independence of the United States of Amer.
lea the ninety Sc venth, before me- Armand Pilot,
Jr., notary public duly commissioned 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
after subscribed who declared that they agreed
and covenanted, and do, by these presents, agree
and covenant 10 form themselves into corpora
ton for the objecta and purposes and under the
stpuatiOns, regulations and obligations following,
to wit:
The name of the company shall be the View Or
leans and Grand EcOre Packet Company" and its
domicile is hereby established i'll the city of New
Orleans and it shall exist and continue for the
term OF twenty-five years from the date of these
esents unless sooner dissolved. The company
shall have a seal, having for inscription the name
of the company.
The operations of said company shall he the pur
chase or building, or chartering OF one or 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 III.
The capital stock of said company is hereby
fxed at the sum of one hundred thousand dollars,
to be paid for as follows to wit: thirty per cent az
soon as the company goes into operation and me
balance IN installment of ten per cent upon the
call OF the Board of Directors the necessities OF
The company may require il. This company shall
go unto operation as soon as the sum OF forty
thousand dollars is subscribed for.
ARTICLE ".
The affairs OF the said company shall be under
the direction of Board of Control, composed of
tive stockholders, possessing in their own name or
that of the firm of which they partners no
less than five shares of the stock of the CO mpany.
ARTICLE V.
SECTION l. The regular meeting of the stock.
holders shall be held annually on the third Monday
OF october at which meeting q ma J0rIty in 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
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. The board thus or
ganized shall have power to appoint all othcers
or agents and fix their resi- ective cOmpensatlons
Ihe board shall also appoint secretary, whose
duty independent of others that might be ascribed
to him. shall be to attend the meetings of the
boa, d, and keep correct record OF their proceed
inGs. ,
SEC @ failure to elect directors as aforesaid
shall n dissolve the corporation but the board IN
office shall continue to exercise the functions unit
q new board can be elected
SEC. g. Three m mbers of said Board Of COntrO
shah constitute quorum for the transaction o.
business, and the said board is hereby invested
with full power to frame and adopt such bylaws
rules and regulations as they may deem requisite
and cessary for the company and the transac
tons of its affairs, provided the same shall NOT
conflict with the true intent and meaning @f this
act of incorporation CT the laws of this State
They hereb, authorized to buy sell and charter
steamboats,, fuel for the use of the company, tc
make contracts, leases, mortgages, hypotheca
tons and compromises; to borrow money, and t.
build, to be built, one or more steamboats,
for said company
SEC. 4 The Board of Control shall make diyi
d. Snfta irE dos va lp
SEC ). II any member of said Board Of Contru
should cease to be a stakeholder during his tern
of service his office shall thereby, ipso factO, he
come vacant. And i'll the event of the death, per
manent absence, or resignation, Ia vacancy from
whatever cause) of any member Of said Board o
Control the board shall have power to fill yacdn
ciss OcCaSOned thereby until the first regula
meeting thereafter OF the stockholders of the saiC
company for the election OF officers OF the com
SEC g. The Board of Control shall meet month,
for the transaction of business and the presidtn
may sal them together at any time by givln;
twenty four hours notice in writing.
SECo;. No two partners whose subscriptions arr
III the name of their commercial firm shall be eli
giblB at the same time as members OF the SAX
boaoGo
SECTION 7. 1t shall be the duty of the presiden
of sad company to keep, cause to be kept, il
bound books, in the name of the company, cor
rect record of all its proceedings, transactions, &C
counts property, business and affairs, well a.
full and complete detailed accounts of the receipt
dnC. disbursements thereof lie shall, moreover
act as She treasurer of the company and keep
cash account in one of the banks in New Orleans
subject 90 the approval Of the Board of Control il
The name and tor account of the company, and Il
be alone authorized and empowered to drav
checks and transact all banking business thereof
The .s 8idcut of the company is the proper person
or waOlS sltation shall be served
ARTICLE VII.
N:l.r the period arrives from any cause for thu
winding rp Of the concerns of this company thre,
stoc holders shall be selected by majority of tn.
shall be to convert all the assets of the corpora
ton into cash. and after the pay Inent of the labl
rites of the company, disburse the surplus funds
among the stockholders Ill proportion to their re
specify. shares - -
ARTICLE VIII.
No s.ocfnolder shall ever be held liable respOr
sitle for the contracts faults of the company
beyond the amount OF bis stock in said company
ARTICLE TX.
foe the purpose of starting and putting the com
rany into operation, the following named stock
holders to wit: John c. Mitchell, ESQ Michel :ie
trich Esq, Horace +. Shropshire, Esq, John A
williams Esq, and George w. Tucker cOnsti
tuted a temporary Board OF Control, whose term o
Office shall expire soou their successors are
eIectaS and have qualified
ARTICLE X,
9Th. names and respective interest of rhe sub
scribers to this act and the amount Of their re
spectfve shares arr hereby declared to- Re as tOl
lows:
-, q, Mitchell Charles II Brown