New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-05-21

Total ACKNOWLEDGEMENTS. 22N. $4,000
And it is contemplated and agreed that Tor the
purpose of extending said road through the city
of Carrolton. books OF subscription shall be
opened to increase said CAPITA by adding thereto
one hundred ard fi:ty thousand dollars. divided
which shall be paid W. by thu subscribers ID such
iusta!lments. marner terms and conditions as the
Board OF Directors shall determine by resolution.
And as soon the shall have been Subscribed
and the Iish: ct way III Carrollton shall have
been obt Aimed the capital OF said company shai.
be actually and defItively increased 70 inc ude
said aldtiOna! sln thereby king the total
capital OF SAT-. company 'wo hundred and sixty
Thousand dollars. divided into five thousand Two
hundred shares at fifty dollars each.
The Board Of Directors slsl. have power TO es.
tabiish rules and bylaws, according t" when am
share shares upon which any :lSta!iment snal!
remain overdue thi'ty days shall De .Ithe. for
fe:ed TO the company or sold for account Of the
delinquent. No certificate % stock shall be issued
until the full amount thereo:!s paid, and all trans
fe.s shall be made according t" the rules and by
laws to be established by :h.. Boa:i OF Directors.
ARTICLE VI
The Board Of Directors shal. be com posed 81 the
seven above named stockholders. WHO sinai. imme
diately enter upon the exercse OF their powers
and duties, and continue III office i.i sLc! Success
are elected.
On the first Mondav in Mag. 1874; and anuua, Y
thereafter there shall De an election of the seven
directors by the stG. khol,iers such elections shall
be held at the office OF the company. and notice
thereof shall be given by publication in at least
TWO daily newspapers pun l-EcU LII Tue CITY OF
New Orleans fox not less than ten DAYS previous
thereto.
holders each stakeholder shal. be entitled to one
vote for every share of stock owned by him, and
to cast the .aid vote ia person or by proxy; and,
except when 9th -rwise required by law.
iolity of the votes cast skaII decide all cleo
tons or questions.
Ia elections. the vote sha!. Ne BY ballot and
under the superintence CT two stockholders APP
pointed bv the board, or if the persons thus ap.
pointed should refuse or fail to attend, the Presi.
dent shall appoint others il their stead. or if the
President is absent or OmIs 20 make the appoint
ment, It may be made by ma jGrity OF the stock
holders present at the opening.
II from any election should fan on tie
day appointed, the President shall forthwith call
ar other meeting at ten days notice. as above pro-
vided for the purpose of effect.ng SAID election,
and Contnue to do unit! valid election OF a
majority Of the number of directors shall be had
Such majority. when elected shall rect on the
TO fiji! no their number BY election. as provided
for in the next article in case of vacancy. and to
organize by the election OF :. President.
ARTICLE VIII.
The Board of Directors shat! NEE. on the ne xt
Monday following their election and at THEN frs:
meeting shall elect a President from one of their
n, mber, who shall be also President of said com.
pany. In of the absence, direct interest IN a
question other inability OF the President to act.
t1e Board shall elect a President pro tempore who
duties of the President until the latter shall re.
slime his functions OF" be replaced. majority OF
President pro tempore As one. shall constitute a
Quorum and the vote of aOri:y If such quorum
shall constitute a valid corporate act.
They shall have power to ill by election any va
, cancy that may occur IN their OWE number DE.
tween regular elections; they sna elect al! officers
define their duties Tx their salaries and the amour:
of their bonds enact such bylaws regulations.
rules and o. dnapces as they may deem necessary
fov the good government and welfare and support
OF the corporation. and OF its affairs and property.
and NAV DELE gate to the President, OF to commit
tees of their own body. or 10 officers agents or at
,orneys in out of the State, such powers they
may deem expedient and lot Inconsistent with the
corporate powers OF the company all officers EN-.
plOyes servants Of the company shall be remov-
able at will, except the President. Each Board OF
Directors shall hold over unit! thei. successors are
duly elected and organized.
ARTICLE TX
No stakeholder In this corporation shai! ever BE
held liable responsible for the contracts or
faults of t company in any further sum than the
unpaid balance due to the company or the shares
owned by him, nor shall any mere informalty in
the organization have the effect of rendering this
charter null, or of exposing a stockholde. to any
liability beyond the amount OF his stock.
ARTICLE x.
This corporation slai! go INTO operation immedi.
ately and this charter shall endure and continue
for the term Oftwenty i've years from this date
solved by the consent of the holders of three.
tourths of the stock represented at general meet
ing convened for that purpose. such meeting may
be called by vote OF five members of the Boa I'd
of Directors or at the request N writing of stock
holders holding one third of the number of share.
issued and outstanding Thirty days previous no.
tce by publication in at least two daily newspa-
pers published in this city, shall be given of such
meeting, and the general object thereof, whether
to amend or to dissolve, shall be stated in such
notice.
The votes of the stockholders for or against any
proposition to amend dissolve shall be It corded
in writing and the lists TOR recording such votes
shall be closed in at least ten days after til. day
appointed for the general meeting Should three
his in amount of the whole humber of shares
vote for proposed measure he Lists may mme.
diately be closed.
ARTICLE Xi
The liquidation Of the affair. Of the corporation
whether dissolved by limitation by vote OF The
stoc kholders, shall be made by three commission.
ers elected by the stockholders from among their
own members If tie liquidation takes place bv
limitation of thC charter said commissioners shall
be elected tns dav fixed for the last election of
directors and If it k-s place in consequence of a
vote OF the stockholk then they shall be elected
at meeting called y til u i-e DAYS after the clos
ing of the vote, ard afte, d,e publication of ten
DAYS notice in at least two daily newspapers pub
lished in New Orleans.
Before election the con pensation of said com.
missioners shall he liked anG the terms and mode
of liquidation shall be determined at the meeting
at which they are elected by majority of the
stock pres NJ OF represented. The general meet
ing may authorize the commissioners to cell the
property aud franchises of the company in block
This done aud passed in my office at the said
city OF New Orlea ans, IN the presence of Martin l..
Aiusworth and Tn aodCTe Hermann Kock, witnesses
of lawful age, and domciliated in this city who
hereunto sign their names together with the par
the month of May, in the year of our Lord one
Thousand 2, ht hundred and seventy. three