The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-11
CHARTER.

the construction of the said railroads, the sal
company shall restore the same to its forme
state, or to such state that its usefulness an
| CONVENIENCE to the public shall not be unneces
sarily impaired or injured, and the said compan
shall not be required to construct draw in an
| bridge over and across any stream or bayou
except streams navigable by enrolled and Ii
censed vessels, and when required by law.
Seventh-To obtain, by grant or otherwise
from any parish, city or village within this State
any rights, privileges or franchises that any o
said parishes, cities or villages, may choose t.
grant in reference to the construction, mainte
nance, management and use of the railroads o
| said company, lis depots, cars, locomotives ant
| it's business, within the limits of such or any o
said parishes, cities and Villages.
Eiehth-TO appropriate property according tt
| existing laws.
Ninth-To cross, intercept join and unite it,
railways, and prorate with any other railroad
heretofore or hereafter constructed in the State
Of Louisiana, or any other State, at any poin
upon its route and upon the ground OF suct
other railroad, with the necessary turn-outs
sidings, switches and other conveyances, il
furtherance Of the objects of it's connections
Tenth-To purchase or lease from any railroad
company or corporation, at any authorized sale
any railroad, and the charter, franchises, prop
erty and appurtenances thereof, and maintain
and use the same as part OF the property o.
this company.
Eleventh-To borrow money or to purchase OF
lease property on it's own credit, for the purpose
of constructing and maintaining said railroads OF
establishing continuous and connecting lines az
hereinbefore provided, and as evidence Of the in.
debtedness of said company for such loans, OF
the purchase or lease of such property, to issue
it's corporate bonds or promissory notes, bearing
intere ST at such rate per annum as the directory
may elect, and made payable in gold or the law.
full money of the United States at such times and
places as may be deemed most to the advantage
Of the corporations, and for securing the pay
ment Of said bonds or notes, to mortgage and
pledge its railroads, its capital stock, its corpo-
rate franchises and any OF its real or personal
property, or any portion OF the same.
ARTICLE ".
BOARD OF DIRECTORS.
SEC. /. The corporate powers OF this Compa.
ny shall be vested IN Board Of Directors COM
posed of fifteen stockholders to be elected in
accordance with the bylaws Of the Company,
and such officers and agents as may from tins to
time be appointed by such board. No person
shall be director who is not the actual owner of
at least ten (10) shares of the capital stock of
said Company. Directors shall be elected an
nually, and continue in Office until others are
elected to fill their place, and shall have power to
fill vacancies in their number caused by death,
resignation or otherwise. The tectOrs shall
elect one Of their number as President OF said
Company, another Vice President, and another
Treasurer, and shall have power to make and
prescribe such bylaws and rules and regulations,
and from time to time alter, amend ana revoke
the same as they shall fit touching the govern
ment of said Company, the transfer Of its stock,
the election of it's officers, the management and
disposition of its business, property and effects,
the powers and conduct of its officers and agents,
ana all other matters which shall in any way per-
tam to the concern OF the Company.
Sec. 2. All election for directors shall be by
ballot, and every stakeholder shall be entitled
to one vote in person or by proxyfor each share
of stock held by him for ninety days prior to
such election.
SEC. 8. Seven of the directors shall constitute
a quorum for the transaction OF business, and
the number Of directors may be increased or
diminished by majority vote of stockholders in
interest at any regular meeting, provided the num-
Der shall not be less than seven nor more than
fifteen.
ARTICLE V.
STOCKHOLDERS MEETINGS.
Sec. l. Stockholders meetings may be called
at any time by We Board Of Directors and on the
requisiton Of the holders OF one-ffth Of the
capital stock issued it shall be their duty to call
such meetings for the purpose OF amending this
Charter and consideration of and action upon all
other business of the company, and all questions
arising at such meetings shall bs determined by
a majority of the stock there present and voting.
SEC. q The annual meeting of the stockholders
for the election of directors and transaction of
the regular business shall be held on the second
Wednesday in January OF each year.
ARTICLE VI.
LIQUIDATION.
This corporation may be dissolved at general
meeting convened for that purpose with the as
sent of three-fourths of the stock of the COM
such meeting, and in case OF such dissolution
the liquidation shall be conducted by three COM
missioners elected by ballot at such meeting. At
the termination of this Charter, the liquidation
shall be conducted by similar board of three
to be in the same way elected at
a general meeting Of stockholders convened for
the purpose.
Thus done and passed, at my Office, in the
presence of Andrew J. Armstrong and John W.
Hunter, lawful witnesses residing in this city,
who have hereunto signed their names as such,
together with the said appearers and me- said
notary, on the day, month and year herein first
written. after reading the whole.
Original Signed( G. W. r. BAYLEY,
j.. GIRDNER,
GEO. JONAS
JULIUS WEIS,
HU. KENNEDY,
DAVID WALLACE,
E.B. WHEELOCK,
E. L. RANLETT,
JOHN H. KENNARD,
CYRUS BUSsEY,
JOHN PHELPS, -"
w. B. SCHMIDT,
SAM'L H. KENNEDY,
A. J. ARMSTRONG,
JOHN W. HUNTER,
]. G. EUSTIS, Notary Public.
l, the undersigned Deputy Recorder Of Mort
ages in and for the parish of Orleans, city of
Jew Orleans, do hereby certify that the above
nd foregoing act Of incorporation of the ''New
orleans Pacific Railway Company" was this day
uly recorded in my office, according to law, in
ook 1lS, folios 626, 627, 62S, 629, $50, 63l and
80.
New Orleans, June 20, 1875.
Original signed.) G. DARCANTEL,
Deputy Recorder.
I certify the above and foregoing to be true
nd correct copy of the original charter and GER
fcate of recordation thereof, now extant in my
urrent register.
In faith whereof I grant these presents under |