The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-04
CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS. CRY OF NEW ORLEANS,

CAAlGxEk
STATE OF LOUISIANA,
PARISH OF ORLEANS CRY OF New ORLEANS, !
BE TT KNOWN, That on this twenty-nintl
day OF the month of June, IN the year OF oul
| Lord one thousand eight hundred and seventy
| five, and Of the United States OF America th'
| ninety ninth.
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:
Personally came and appeared, g; "; Z; Bay
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN 3. 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
to the Reorganization of Corporations" in
thi State, they do, by these presents, form,
organize, constitute and found a Corporation for
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 body Cor
DOrdtG. ana bD6TGuuuCE Ulut tuCHAboifOs, nuu
all who may hereafter become associated with
them, to be governed by the following stpu-
lations obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE /.
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 existence FOR and during the
r. nff xUnn
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 exerciseits corporate powers within
any other State of the United States that shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
Sec /. The capital stock of this corporal ton is
hereby fixed at THREE MILLION DOLLARS
{ So, OOO, 00O), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
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 officers OF
The Company until the second Wednesday in
1877: Officers, -. b. WHEELOCA,
HUGH KENNEDY, Vice President;
s. Fl. KENNEDY, Treasurer. When one hum
bred and fifty thousand dollars $780, 0) 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 thig 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.
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 40
Der cent? on each share at any time, and thirty
lays must elspse before another call can be
made.
SEC. 8. No stakeholder shau be held liable ORE
,ponsibe for the contracts and faults of the com.
oany in any further sum than the unpaid balance
1r balances due the company on shares owned by
lim, nor shall any hformalities in the organiza-
ion have the effect of annulling this Charter, or
If exposing stakeholder to any liability beyond
he amount OF his stock subscription unpaid.
SEC 4. The domicile of the company shall be
he city of New Orleans, and citation shall be
served there on the President OF the company, or
n his absence, on the Vice-President.
SEC. S. The g ock books shall be kept at the
office of the Company, whence certificates of stock
shall be issued to the subscribers, but no trans
er 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
took.
SEC. G. In the case of failure on the part Of any
ubscriber to pay the instalments on his stock as
equired, the Board of Directors shall have the
ption, after thir days written notice to the
enouent, of forfeiting his stock, or the amounts
previously paid thereon; and no stakeholder
hall have the right to vote while in default.
SEC 7. All rules relative to the declaration of
vidends or divisions of profits, as well as the
y-laws Of the Company, shall be made by the
,oard of Directors, but said rules and bylaws
hall be subject to repeal, change or moditca-
ion by the holders IF majority Of the stock Of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS. |