The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-03

provided for: may sue and be sued, may mold
real and personal property, may make contracts,
NAV receive grants OF land or personal property,
aud shall possess all tie powers and privlleG
which corp0rafiOns are or may be by any genera
law OF this state authorized to possess, and SAID
company may exerciseits corporate powers Wltfnn
any other State Of the United States th&t shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
SFc I. The capital stock Of this corpora zion is
hereby fixed at THREE MIL! ION DOLLARS
fS3 OgG OODl represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLAR,
(S1OO1 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
named gentlemen, who shall be the otfcers OF
the Company until the second NeGngsday IN
President: HUGH KENNEDY, Vice President,
5. H. KENNEDY, Treasurer. When one hun
bred aud fifty thousand dollars (Sl30,0C0) OF the
| capital stock snail have been subscribed, the
Board OF Directors are authorized TO commence
the construction Of the road, and to carry ont the
provisions of this charter; to enable them to dc
this. subscriptions to the capital stock shall be
due and payable rs herein provided for when
this amount has been subscribed
SEC 2. The time and manner OF payment Tor
| stock shall be such as may be determined by the
| Board Of Directors, provided, however, that ne
call shall be made Of more than ten per cent 10
| per cent? on each share at any time, aud thirty
| DAYS must elapse before another call can be
made.
SEC. 3. No stakeholder shau be held liable ORE
sponsible for the contracts and faults OF tho com
pany in any further sum than the unpaid balance
| or balances due the company on shares owned by
| him. nor shall any iulormailtles III the orSanIza
| ton have the effect Of annulng this Charter or
| OF exposing a stakeholder to any liability beyond
! the amount Of his stock subscription unpaid.
| SEC. t. The donicile Of the company shall be
! the city Of New 0ilean5, and c.ta'lon shall be
served there on the President OF the company OF
! in his absence on the Vice-President.
| 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 70 stock
certificate shall be issued except for fun PAID
SIC. 6. In the case of failure on the part of any
subscriber to pay the indictments on his stock as
| required the Board of Directors shall have the
option after thir V days written nOuce to the
DELINQUENT of forfeting 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, well IS the
bv-laws Of tie Company shall be made by the
| Board of Directors, but said rules and bylaws
-halI be snbiect to repeal, change or mOdliCa-
ton bv the holders # a 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
| 2 railroad with one or more tracks and suitable
/ turn0uts, of such guage and construction and
upon such course or route as may be deemed
| bt a majority of the Directors Of said company
I OF M he
| sissippi River al New Orleans, or between New
Orleans and the parish OF Ibervlle, on the right
| bank Of the Mississippi, and Baton Rouge on the
left bauk: or from New Orleans or Berwick's
Bay via EermillionvIle, IN the parish OF Latay-
elite and Opelousas, in the parish OF ST. Landry,
or from any OF said points, or from any point
within the limits Of this State, and drumming thence
! towards and TO the city Of Shreveport. or the
city OF Marshall Dallas. IN the State OF leXas N
sreh Grec ion and route or routes as said company
| shall fix. and with such connecting branches III
| the State Of Louisiana as may lie deemed
proper.
| Second--To locate, construct, lease, own, main
| tain and use such branch railroads and tracks as
| a majority Of the Directors Of said company may
from time to time deem proper and expedient
and for the interest of said company to OWL and
to Use and lease, and they shall not be restricted
in the exercise Of this privilege to the State OF
| Louisiana, but may connect tnelr nam line with
any other line or lines III other States which
| shall authorize the exercise Of said privilege
within their limits, and the said company shall
! have a right to establish and maintain III the
city Of New Orleans proper freight and passen-
| uer dpDctq and to connect them by tracks and
| ferries with the left bal IF the Mississippi River
| at such point or points may be deemed most
convenient for the pul lie interest, and to use III
| 5ucn ferries steamboats, and other vessels, and
| for the purposes of such depOts, tracks ana fer
| Tics. NAV acquire property by appropriation.
| Third To construct, estipllsh, Or purchase IN
| this State and thereafter to own, lease, main
tain and use suita bic wharves, piers, ware hOIls
Yards, steamboats,, harboTs, depot51 stations. and
| other works and appurtenance5 con ected with
| and incidental to said railway and its cOnnec-
| tious. and to run and manage the same the
| Directors Of the said Company may deem to be
| most expedient and to the welfare OF said corpo-
ration.
| Fonrth-To take, tran. port, carry and convey
| persons and property NJ on KS sad railway and
It's boats by power OF am or any other powf r,
and to receive for satekt epng and to store mer-
chaudse and property IL its yards or warehouses,
and 10 receive for such transportation, safekeep
! ing or storage such tolls and charees az may
from time to time be established or authorized to
be established by Directors Of said railroad COM
pany.
merchandise or property, tor changes made by
other ira sportation lines to be transported upon
| its RAILWAYS steamboats, or vessels, or to be
stored in its yards or warehouses 10 such extent
| and upon such terms and conditions as the Direc-
| tors Of said Company msy from time to time es-
tabli-h or authorize to be established.
/ Fifth-To obtain and receive by purchase,
grant from United States otherwise grant, gift.
devise and bequest, both real and personal prop
ertv. to have ard to hold such real and personal
real estate, in This state, for the objects, pur-
pose :. interests and business of such Company.
! Sixth-To construct an maintain its said rail-
roads or any part Of the same, and to have the
richt of way therefor, across or along, OF
upon any waters, water courses, river,
lake, bay, inlet. street, highway, turnpike,
or canal within the State of Louisiana, Which
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