The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-07
CHARTER.
STATE OF LOUISIANA,

STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE IT KNOWN, That on this twenty-nint
day OF the month Of June, in@the year OF on
Lord one thousand eight hundred and seventy
five, and Of the United States OF America tn
Before me, JOHN G. EUsTIs, Notary Pub
liz 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. w. II. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN q. 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" IL
organize, constitute and found q Corporation fol
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 as
may hereafter become associated with them,
whether by subscription, purchase, transfer,
succession or otherwise, into "Body Cor
porate," and Hereunder bind themselves, and
all who may hereafter become associated with
ILL.
aions, obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE 1.
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
full term and period OF twenty-five (25) years
from the date of the execution OF these presents,
mil 1iaaolvad in the manner hafelnafter
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
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
(s30O0,OOO), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
(s1O0) 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 officers of
ll6 company uutll Uuc 5cCOuu WcUufEudy III
1877: officers, E. B. WHEELOcK,
President; HUGH KENNEDY, Vice President;
S. H. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars (s150,000) 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
his amount has been subscribed.
n aud ~ &opI
stock shall be such as may be determined by the
Board of Directors, provided, however, that no
,all shall be made of more than ten per cent 40
Der cent? on each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC. g. No stakeholder shall be held liable or re-
,ponsible for the contracts and faults Of the COM
,any in any further sum than the unpaid balance |
,r balances due the company on shares owned by |
lin, nor shall any informalities in the organiza-
II 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 ice-President.
SEC. s. The stock books shall be kept at the
,fice of the Company, whence certificates of stock
hall be issued to the subscribers but no trans
err of stock shall be binding upon The Company
ntil made upon its stock books, and no stock
ert1hcate shall pc Issued except LOT Iuu pald
took.
SEC. 6. In the case of failure on the part of any
ubscriber to pay the installments on his stock as
equired the Board OF Directors shall have the
ption, after thir days written notice to the
of forfeting his stock, or the amounts
paid thereon; and no stakeholder
hall have the right to vote while in default.
SEC. Z. All rules relative to the declaration of
ividends or divisions of profits, as we'll as the
y-laws of the Company, shall be made by the
card of Directors, but said rules and bylaws
1all be eubject to repeal, change or modfica-
on by the holders Of q majority OF the stock Of
le Company at their meeting.