New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-21
CORPORATIONS,
STATE OF LOUISIANA
PARISH OF ORLEANS. CITY OF NEW ORLEANS

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 severty-two, and
OF the independence of the United States of Amer
lea the ninety seventh 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 eovenauted, and do, by these presents, agree
and covenant to form themselves into corpora
ton for the objects and purposes, and under the
stipulations regulations and Obligations following,
to wit:
The name of the company shall be the New Or
leans and Grand Ecore Packet Company" and its
domcile Is hereby established in the city of New
Orleans, and it shah exist and continue for the
term OF twenty five years from the date OF these
presents, unless sooner dissolved. The company
shall have SEAL having for inscription the name
OF the comI any.
The operations OF said company shall be the pur'
chase or building, or Charterins OF one or more
steamboats, and the carrying of freight or passeu-
gers, or both on said boats. up and down the Mis-
siSsipDi river and Red river and tributaries.
ARTICLE III.
The capital stock of said company is hereby
fixed at the 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, and the
balance in installments of ten per cent upon the
call OF the Board of Directors the necessities OF
the company may require il. This company shall
go into operation as soon as the Slm ct Sorty
Thousand doil2rS is subscribed for
ARTICLE ~.
The affairs Of the said company shafi Ss undee
she direction of a Board of Control lcomposed of
five stockholders, possessing in their name, or
that OF the firm of which they are partners not
less than five shares of the stock of the co pany.
ARTICLE +.
sRcfIos p The regular meeting of the stock.
holders shall be held annually on the third Monday
OF october, at which meeting majority in capital
stock, represented at the meeting, shall choose
ensuing year. At such election each snare of stock
shall be entitled to one vote, and the directors
elect shall within five days after their election
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 secretary, whose
duty, independent of others that might be ascribed
TO him. shall be TO attend the meetings of the
boa1d, and keep correct record OF their proceed
ings
SEC 2. A failure to elect directors, as aforesaid
shall not dissolve the corporation, but the board in
office shall continue to exercise the functions until
new board can be elected.
SEC. 3. Three M mbers of said Board of Control
shall constitute a 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 as they may deem requisite
and necessary for the company and the transac-
tons 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 herebj 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.
SEC l. The Board of Control shall make divi.
bends AS often as they think desirable and proper.
SEC 5. II any member of said Board of Control
Cpn SO n hp a ST q a m
of service, his office shall thereby ipso factO be-
come vacant: And in the event of the death, per
manent absence, resignation, Ia vacancy from
Whate yer cause) Of any member OF said Board OF
Control, the board shall have power to fill vacan
cies occasioned 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 and the president
may call them together at any time by giving
twenty four hours notice in writing.
SEC. :. no two partners whose subscriptions are
in the name of their commercial firm shall be eli
G;bl~ OF she same time as members OF the said
bo3rtA
SECrIos 7. Itshall be the duty of the presiden
of said company to keep, or cause to be kept, in
bound books, in the name of the company, a cor
rect record OF all it's proceedings transactions,
counts, property, business and affairs. as well as
full and complete detailed accounts of the receipts
and disbursements thereof He shall, moreover,
act as the treasurer of the company and keep a
cash account IN one or tlle 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 president of the company is the proper person
On whom! eitatioD shall be served
article VIZ
When eie psfiOd arrives from any sause for the
winding up OF the concerns of this company, three
stockholders shall be selected by majority of the
s'ocRholder at a general meeting, whose duty it
shall be to convert all the assets of the corpora.
ton into cash and after the pay ment of the labl-
tiles OF the company, disOurse the surplus funds
among the stockholders in proportion tS their re-
spsctiya shaIes
ARTICLE WIR
No seoc4holder shall ever be held liable OF fespon
sible tor the contracts or faults OF the company
To- ysIuS tie amount OF his stock i'll said company.
ARTICLE GX.
soy she purpose of starting and putting che com,
pany into operation, the following named stock
holders 10 wit: John C. Mitchell, Esq Michel Die,
trich Esq, Horace +. shropshire Esq, John A
Williams ESQ, and GeOrg" W. Tucker const
;uted a temporary Board OF Control whose term OF
office shall expire soon as taeS successors are
elected and have qualified.
ARTICLE e
sh. Games and respective inferes@ OF Phe sub
scribers 10 this act and tho amount of their re
spectjvs shares ar~ hereby declared to be fol