The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-09
CHARTER.
STATE OF LOUISIANA,

:
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF NEW ORLEANS,
BE 1T KNOWN, That on this twenty-ninth
dav Of the month of June, in the year OF our
Lord one Thousand eight hundred and seventy
five, and of the United States OF America the
ninety ninth.
Before me, JOHN G. EUS1Is, Notary Pub
lie, in and for this CITY. and parish OF Orleans,
State of Louisiana, duly commissioned and quail
fed, and in the presence of the witnesses here
matter named and undersigned:
LEY, E. B. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN q. KENNARD CYRUS
BUSSEY, GEORGE JONAS W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WEIS, E. l..
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That, availing themselves of the powers,
rights and privileges conferred by the sta
tutes of the State OF Louisiana, relative
to the Organization of Corporations" in
organize constitute and found a Corporation for
the objects and purposes shall hereafter be
enumerated and set forth; and to that end they
do hereby covenant and agree to form and con-
stitute, and do, by these presents form and con-
stitute themselves, and all such other persons as
may hereafter become associated with them
whether by subscription, purchase. transfer
succession or otherwise, into BODY Cor
porate" and Hereunder bind themselves, and
all who may hereafter become associated with
Them to be governed by the following stipu-
latons, obligations and regulations as articles Of
the charter OF said Corporation.
ARTICLE l.
NAME.
| The name and title of said corporation shall be
| the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that pane shall have succession,
and have corporate exi-tence for and during the
| full term and PERIOD of twenty-five (25) years
from the date of the execution Of these presents,
unless sooner dissolved in the manner hereinafter
provided for; may sue and be sued, may hold
real and personal property, may make contracts,
may receive grants OF land or personal property,
and shall possess all tie powers and privileges
which corporations are or may be by any genera
law of this State authorized to possess, and said
company may eXerciselts corpora te powers within
any other State of the United States that shall
authorize the came.
ARTICLE II.
CAPITAL STOCK.
Sec. /. The capital stock Of this corporation is
hereby fixed at THREE MILLION DOLLARS
| (S3, 000, 000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s100) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
| under the lncorporators herein named, who
shall constitute the Board of Directors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers Of
the Company until the second Wednesday in
January, 1877 Officers, = B. WHEELOCK,
President; HUGH KENNEDY, Vice President;
s. FL. KENNEDY, Treasurer When one hun
bred and fifty thousand dollars t$l50, 0G0) of the
capital stock shall have been subscribed, the
Board of Directors are authorized to commence
the construction Of the road and to carry out the
provisions of thi0 charter to enable them to do
this subscriptions to the capital stock shall be
due and payable as herein provided for when
this amount has been subscribed.
Sec. q The time and manner of payment for
stock shall be such as may be determined by the
Board of Directors, provided, however, that no
call shall be made OF more than ten per cent 90
per cent? on each share at any time. and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shall be held liable ORE
sponsible for the contracts aud faults OF the com
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any nformalities in the organza-
ton have the effect Of annulling this Charter, or
of exposing stakeholder to any liability beyond
the amount of his stock subscription unpaid.
Sec. 4. The domicle of the company shall be
the city of New Orleans, and citation shall be
served there on the President OF the company, or
in his absence, on the Vice President.
SEC. s. The stock books shall be kept at the
Office of the Company, whence certificates of stock
shall be issued to the subscribers, but no trans
fer of stock shall be binding upon The Company
until made upon its stock books, and no stock |
certificate shall be issued except for full paid
stock.
SEC G. In the case of failure on the part of any
subscriber to pay the in-talments on his stock as
required, the Board of Directors shall have the |
delinquent, of forfeting his stock, the amounts
previously paid thereon; and no stakeholder |
shall have the right to vote while in default.
Sec. 7. All rules relative to the declaration of
dividends or divisions OF profits, as well as the
bylaws of the Company, shall be made by the |
Board Of Directors, but said rules and bylaws |
shall be subject to repeal, change or modifica-
ton by the holders of a majority of the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said companyis empowered and author
lied:
First-To locate, construct, lease, own and use
a railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
by majority Of the Directors of said company
most expedient, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville. on the right
bank Of the Mississippi, and Baton Rouge on the
Bay, via Vermillionville, in the parish OF Lafay-
cite, and Opelousas, in the parish Of st. Landry,
or from any of said points, or from any point
within the limits ofthis State and running thence
city Of Marshall Dallas, in the State of Texas, in
such direction and route or routes as said company
shall fix, and with such connecting branches i'll
the State of Louisiana as may be deemed
proper.
Second--To locate, construct, lease, own MAIN
tain and use such branch railroads and tracks as
majority of the Directors of said company may !
rom time to time deem proper and expedient !
md for the interest of said company to own and
10 use and lease, and they shall not be restricted
n the exercise of this privilege to the State of
but may connect their main line with |
my other line or lines in other States which
hall authorize the exercise of said privilege
within their limits, and the said company shall
rave a right to establish and maintain in the
ity of New Orleans proper freight and passen-
ser depots, and to connect them by tracks and 3
erres with the left bank Of the Mississippi River
It such point or points as may be deemed most c
for the public interest, and to use in
UGH ferries steamboats, and other vessels, and \
or the purposes of such depots, tracks and fer 3
les. may acquire property by appropriation.
Third-To construct ablish, or purchase in
his State, and thereafter, to own, lease main :
ain and use suitable wharves, piers, warehouses
ards, steamboats,, harbors, depots, stations and
Their works and appurtenances connected with
nd incidental to said railway and its connec-
ons, and to run and manage the same as the
directors of the said Company may deem to be