The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-10
CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF New ORLEANS, !

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| STATE OF LOUISIANA, T
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
| BE 1T KNOWN, That on this twenty-ninth
day OF the month of June, in the year OF our
Lord one thousand eight hundred and seventy
i've, and OF the United States OF America the
ninety-ninth.
Lie. in and for this citv. 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: "; r; BAY
JOHN PHELPS, JOHN b. 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 Reorganization of Corporations" in
thi State. they 40, By these presents, form,
the objects and purposes as 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
may hereafter become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise, into "Body Cor
porate," and hereunder bind themselves, and
all VINO may u6TodICeT become ASSOCIATED Win
them, TO be governed by the following stipu-
lalons, obligations and regulations 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 pane shall have succession,
and have corporate exi-tence for and during the
full term and period of twenty-five (25) years
frOn at n nj
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 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 corpora ton is
hereby fixed at THREE MILLION DOLLARS
Is3, o0o,0 0o), represented By THIRTY THoU,
($10O) 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 Direct 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, E. B. WHEELOCK, |
President; HUGH KENNEDY, Vice President;
s. II. KENNEDY, Treasurer. When one hun
dred and fifty Thousand dollars $3.50, OOO) 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 40 |
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC g. No stakeholder sha u be held liable or re-
,ponslble for the contracts aud faults OF the COM
oany in any further sum than the unpaid balance
,r balances due the company on shares owned by
him, nor shall any informalities 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
erved there on the President of the company, or
n his absence, on the Vlce-President.
SEC. s. The stock books shall be kept at the
,ffice of the Company whence certificates of stock
hall be issued to the subscribers, but no trans
er 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
took.
Sec. 6. In the case of failure on the part of any
ubscrber to pay the iastallments on his stock as
equired, the Board Of Directors shall have the
ption, after thir y days written notice to the
of FORGETTING his stock or the amounts
reviously paid thereon and no stakeholder
hall have the right to vote while in default.
SEC. 7. All rules relative to the declaration of
ividends or divisions of profits, well as the
y-laws of the Company, shall be made by the I
oard of Directors, but said rules and bylaws
hall be subject to repeal, change or modifica-
on by the holders # majority of the stock of
le Company at their meeting.
ARTICLE III.