The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-21
CHARTER.
STATE OF LOUISIANA.

CHARTER.
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. EUs1Is, Notary Pub
lie. in and for this CITY, and parish OF Orleans
State Of Louisiana, duly commissioned and quail
fled, and in the presence OF the witnesses mere
matter named and undersigned:
Personally came and appeared, G. w. r. BAY
LEY, E. b. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
BUssEY, GEORGE JONAS, W. B. SCHMIDT
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 Corporation for
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
pUTdi6, anu UQoT6uUQ6T DING themselves, anu
all who may hereafter become associated with
them, to be governed by the following stipu-
laions, obligations and regulations as 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 Dame shall have succession,
and have corporate existence for and during the
AL r;r,l ~ Nv Er-o
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,
aud 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.
SEQ. 1. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
So, ,000), represented by THIRTY THOU |
SAND SHARES of ONE HUNDRED DOLLARS |
,apital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized |
lnder the incorporators herein named, who
hall constitute the Board of Directors and shall
lold their Office, together with the following
famed gentlemen, who shall be the officers of
he Company until the second Wednesday in
anuary, 1877: Officers, E. B. WHEELOCK,
resident; HUGH KENNEDY, Vice President;
!. 81. KENNEDY, Treasurer. When one hun
red and fifty thousand dollars (s150, 000) of the
apital stock shall have been subscribed, the
,oard of Directors are authorized to commence
he construction of the road and to carry out the
rovisions of thig charter to enable them to do
mis-, subscriptions to the capital stock shall be
ne and payable as herein provided for when
lis amount has been subscribed.
Sec 2. The time and manner of payment for
Jock shall be such as may be determined by the |
GARD of Directors provided, however, that no {
Ill shall be made OF more than ten per cent no
er cent? on each share at any time, and thirty
ays must elapse before another call can be
ade. t
Sec. g. No stakeholder shau be held liable or re-
,onsible for the contracts and faults of the COM i
my in any further sum than the unpaid balance /
IN, nor shall any informalities in the organiza-
on have the effect of annulling this Charter, or
exposing stakeholder to any liability beyond
e amount Of his stock subscription unpaid. a
Sec. 4. The domicile OF the company shall be :
10 city Of New Orleans, and citation shall be | :
rived there on the President Of the company, or ]
his absence, on the Vice-President IL
SEC. 5. The ock books shall be kept at the :
ice Of the Company, whence certificates Of stock ]
TALL be issued to the subscribers, but trans !
T OF STOCK Snail De Dlnulng upon the company
It'll made upon it's stock books, and no stock | f
rtifcate shall be issued except for full paid +
ock. y
Sec 6. In the case of failure on the part of any
bscriber to pay the installments on his stock as
uuired. the Board of Directors shall have the
ton, after thir y days written notice to the
linquent, of FORGETTING his stock, or the amounts
eviously paid thereon; and no stakeholder 8
all have the right to vote while in default. p
SEC. 7. All rules relative to the declaration of 8
l. L r ~ "
laws of the Company, shall be made by the n
ard of Directors, but said rules and bylaws q
I'll be subject to repeal, change or modifca- q
q by the holders # a majority of the stock of G.
, Company at their meeting. 3,
ARTICLE. III.