The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-27
CHARTER.
STATE OF LOUISIANA,

81 CHARTER.
STATE OF LOUISIANA, ---------- |
PARISH OF ORLEANS, CRY OF NEW ORLEANS
BE IT KNOWN, That on this twenty-nintl
day OF the month of june, in the year of ou
Lord one thousand eight hundred and seventy
five, and Of the United States Of America the
Before me, JOHN g. EUsTIs, Notary Pub
lie, in and for this citv. and parish of Orleans
State Of Louisiana, duly commissioned and quail
fed, and in the presencs OF the witnesses here
| matter named and undersigned:
Personally came and appeared, G: W r: BAY
LEY, E. b. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN H. KENNARD, CYRUS
BUssEY, GEORGE JONAS "; B; SCHMIDT
RANLETT and DAVID. WALLACE, all resi-
dents of this city, who severaly declared
That, availing themselves of the powers,
rights and privileges conferred by the sta
tutes OF 1.-THE State Of Louisiana. relative
TIL 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, apd 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
them, to be governed by the following stipu-
lations, obligations and regulations as articles of
the charter OF said Corporation.
j. Il ARTICLE I.
t.f.B; aAF..f- NAME. .,- H..
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
ell xorv, and IF txyop ty-f va
from the date Of the execution of these presents,
unless eooner dissolved in the manner hereinafter
provided for; may sue and be sued, may hold
real and personal property, may make contracts,
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 exercise its corporate powers within
any other State Of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK. u .-.-. Sd,
SEC. 1, The captaI stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
pr nNs Ry Ta!RTH
($1OO) 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
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;
bred and fifty thousand dollars (sl5O, 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
1,,a ND h1a an horoin r1rOyidad forv uhau
this amount has been subscribed.
Sec. q. The time and manner OF payment for
stock shall be such as may be determined by the
Board of Directors, provided, however, that no
per cent? on each share ct any time, and thirty
days must elapse before another call can be
made. li a44 Df 4y'a3 ESIe bn
SEC. 8. No stockholder shsu be held liable orre-
sponsibie for the contracts and faults OF the COM
pany in any further sum than the unpaid balance
Or balances due the company on shares owned by
him, nor shall any inforrnalities In the organiza
ton have the effect OF annuling this Charter, or
Of exposing stakeholder to any liability beyond
the amount OF his stock sub scription unpaid.
SEQ A. The domicile of the company shall be
the city of New o. leans, and Citation shall be
served there on the President OF the company, or
Ia his absence. on the Vice President.
SEC. 5. The stock books shall be kept at the
office Of the Company, whence certificates OF stock
shalt be issued to the subscribers, bat no trans
Ter 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
stock. 4 ti aH -l. sE t6-4f III rl Il
SEC. G. In the case of failure on the part of any
to pay the installments his stock as
.equired, the Board of Directors shall have the,
option, after thir days. written notice to the |
OF forfeting his stock or the amounts
previously paid thereon and no stakeholder
hall have the right to vote while in default.
SEC. Z. All rules relative to the declaration of
dividends or divisions Of profits, as well as the
,y-laws Of the Company, shall be made by the |
Board of Directors, but said rules and bylaws
hall be subject to repeal, change or modifca-
ion by the holders . majority of the stock Of
he Company 1t their meeting.
r. f....s. ,r. ARTICLE III. .-.,. ~
'rE eco GENERAL POWERS. y > ...,..
The said company is empowered and author
zed: