The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-30
CHARTER.
STATE OF LOUISIANA,

day 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
Before me. JOHN G. EUSTIs, Notary Pub
Lie, in and for this CITY, and parish OF Orleans,
State of Louisiana, duly commissioned and quah-
fed and in the presence of the witnesses here
matter named and undersigned:
LEY. E. B. WHEE E HUGH KENNEDY,
JOHN PHELPS, JOHN 81. KENNARD, C1EuS
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
rights and privileges conferred by the sta
tutes of the State of LOUISIANA, relative
to the Reorganization of Corporations, IN
thi State, they do, by these presents, form,
organize, constitute and found q Corporation Tor
the objects and purposes as shall hereafter De
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 q BODY Cor
porate," and Hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stlpu..
lations obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE I.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY. and by that name 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 the powers and privileges
which corporations are or may be by any general
law of this State authorized to possess, and said
company may exercise its corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
Sec. 1. The capital stock of this corporatio is
hereby fixed at THREE MILLION DOLLARS
(s3,O00,000), represented by THIRTY TdOU-
SAND SHARES of ONE HUNDRED DOLLARS
($100) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the incorporators herein named, who
shall constitute the Board of Directors and shall
hold their office, together with the following
the Company until the second Wednesday in
January, 1877: Officers, E. B. WHEELOCK,
President: HUGH KENNEDY, Vice President;
s. 81. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (s150,0C0) 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 this 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 2. 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 DO
per cent? on each share at any time, aud thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shall be held liable ORE
sponsbe for the contracts and 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 iaformalties in the organiza.
ton have the effect of annuling this Charter, or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec. 4. The domcile OF the company shall be
served there on the President of the company, or
in his absence, on the Vice-Presidenr
SEC. 5. 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 it's stock books and no stock
certificate shall be issued except for full paid
stock.
SEC. 6. In the case of failure on the part of any
subscriber to pay the inatalments on his stock as
option, after thir days written NOTICE to the
delinauent, of forfetipg his stock or 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 modifca-
ton by the holders Of majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is 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 expediont, beginning at a 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
left bank; or from New Orleans or Berwicks |
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, ndrunning thence
towards and to the city of Shreveport. or the |
city of Marshall Dallas in the State of Texas, in
such direction and route or routes said company
shall fix, and with such connecting branches in |
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 |
and for the interest Of sad company to own and |
to use and lease, and they shall not be restricted
n the exercise of this privilege to the State of
Louisiana, but may connect their main line with |
INV other line or mes IN other States which |
hall authorize the exercise of eaid privilege
within their limits, and the said company shall
nave right to establish and maintain in the