New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-01

TOtal. |SoV piiV,o"
And i: is contemplated and agreed that for the
purpose of extending said road through the city
of CarrOlltOn, books OF subscription shall be
opened to increase said capital by adding thereto
one hundred and fifty thousand dollars, divided
into three thousand shares OF fifty dollars each,
which shall be paid up by the subscribers id such
iustallments manner, terms and conditions as the
Board of Directors shall determine by resolution.
And soon as the same shall have been subscribed
and the right OF way IN CarroiIton shall nave nave
be actually and dehnitively increased TO include
said additional sum, thereby, making the total
capital of said company two hundred and sixty
thousand dollars, divided into five thousand two
hundred shares of fifty dollars each.
The Board of Directors shall have power to es
tabiish rules and bylaws, according to which any
share shares upon which any instalment shall
remain overdue thirty days shall be either for
delinquent. No certificate of stock shall be issued
until the full amount thereofis paid, and all trans
fers shall be made according to the rules and by
laws 20 be established by the Board OF Directors.
ARTICLE 81.
The Board Of Directors shall, be composed of the
seven above named stockholders, who shall mme-
diately enter upon the exercise Of their powers
and duties. and continue in office TIA theS success
s0'' ''s s'e''' ARTICLE VII.
On the first Monday in May. !ara and annually
thereafter there shall be an election OF the seven
directors by the stockholders such elections shall
be held at the office of the company, and notice
two daily newspapers. published ia the city of
New orleans, FOX not less than ten days previous
thereto.
holders each stakeholder shall be entitled to one
vote for every share of stock owned by him, and
to cast the said vote i'll person or by proxy: and.
except when otherwise required by law. a ma
iority Of the votes cast shall decide al! cleo
In elections, the vote shall be by ballot and
Under the s,perintenCe of two Stockholders ape
pointed by the board, or if the persons thus ap-
pointed should refuse fail to attend, the Presi.
dent shall appoint others in their stead. or if the
President is absent omits to make the appoint'
ment, it may be made by a majority OF the stock
II from any cause an election should fail on the
dav appointed the President shal! forthwith call
other meeting at ten days notice. as above pro-
vdei for the purpose of efecting sad election.
and continue to do until valid election OF a
maj or!ty of the number of directors shall be had
first Monday following theiI election. and proceed
to fill up their number by election as provided
organize by the election OF a President.
ARTICLE VIII
The Boar. o. Directors shall meet on tire next
Nonday following their election and at their first
| meeting shall elect President from one Of their
nvmbe: who shall be also President OF said com.
pany. In of the absence direct interest in a
:he Board shall. elect President pro tempore, who
! shat exercise all the powers and fulfill all the
duties of the President until the latter shall re,
the memb ers of the Board, counting the President
or President pro tempOre as one shall constitute
quorum, and the vote of majority Of such quorum
| shall constitute valid corporate act.
They shall have power to fill by election any va.
that may n theis ETn nmSsr De-
define their duties, fix their and the amount
| of their bonds, enact such bylaws regulations
| rules and ordinances as they may deem necessary
| for the good government and welfare and support
of tie corporation, and of its affairs and property
I and NAV delegate to the President, or to commit
tees Of their own BODY or to officers, agents at
rorneys in out of the State. such powers as they
! may deem expedent and not Inconsistent with the
! corporate powers of the company; all officers EN-
! plOyes servants of the company shall be remor
able at will, except the Presto cent: Bach Board Of
Directors shall hold over unit! theig successors are
| duly elected and organized.
ARTICLE TX.
No stakeholder in this corporation shall ever be
| held liable responsible for the contracts OF
faults OF company in any further sum than the
| owned by him, noy shall any mere informality in
the organization have the effect of rendering this
| charter null, or of exposing stockholdes to any
/; liability beyOad the amount OF his stock
ARTICLE x.
This CORPORATION sha'! 60 lato operation immedi
ateiv and this charter shall. endure and continue
for the term OF twenty -tiTe years from this date
| but said charter may be amended, modified or dis
, solved by the consent OF the holders OF three
fourths OF the stock represented at general meet
| ng Convened TO. that purpose. such meeting may
! be called By a vote OF five members Of the Boart
o. Directors or .fe request in writing of stoc
! holders holding one third of the number of share
| issued and outstanding. Thirty days previous ne
tice by publication in at least two daily newspa
pers published in this city, shall be given of suct
| meeting and the general object thereof whethe
| to amend to Dissolve, shall. be stated in sUcl
| notice.
! The votes OF the stockholders 70, or against an,
proposition to amend or dissolve shal. be recorded
| IN writing and the lists for recording such vote
! shall be closed in at least ten daya after the da,
| appointed for the general meeting Should three
fourths in amount of the whole number Of share
vote for any proposed measure the lists may im u
d.ately be closed
ARTICLE XII.
! The liquidation of the affairs Of the corporation
whether dissolved by limitation or by vote of th
! stockholders, shall be made by three commission
! ers elected by tie stockholders from among thei
| OWE members. II the liquidation takes place b
| limitation Of the charter said comm ssioners sha
be ele cted the day fixed for the last election
directors and il ii takes place in consequence OF
vote of the stockholders then they shall De eiecte
| at meeting called within i've days after the clo
| Ing OF the vote, and after due publication OF te
| DAYS notice in at least two daily newspapers pU
lished in New Orleans.
Before election the compensation Of said con
missioners shall be fixed and the terms and moo
of liquidation shall be determined at the meetir
| at which they elected BY majority Of Il
] stock present or represented. The general NEE