The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-01
CHARTER.
STATE OF LOUISIANA,

dents Of this city, who seyerally declared
That, awaiting. themselves OF me powers
rights and privileges conferred by the sta
tutes of the State Of louisiana. relative
to the Reorganization Of Corporations, IN
thi State, they do, by these presents, form.
organize, constitute and found q Corporation tor
the objects and purposes as snail hereafter Is oe
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
NAV hereafter become associated with them
whether by subscription, purchase, transfer,
succession or otherwise, into 'Body Cor,
porate," and Hereunder bind themselves, ana
ali who may hereafter become associated with
them, to be governed by the following stlpu.
laions, obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE l.
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,
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 or may be by any general
law of this State authorized to possess, and SAID
apv 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
C$3, 900, OO0), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
$500 EACH, with the right to increase said mlt
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 ofiicers OF
the Company until the second Wednesday in
January, 1877: Officers, z. B. WHEELOpK,
President; HUGH KENNEDY, Vice President;
s. II. KENNEDY, Treasurer. When one hun
dred and fifty Thousand dollars ($15O, OOO) OF the
Board of Directors are authorized to commence
the construction of the road and to carry out the
provisions of thiu charter; to enable them to 90
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 10
per cent? ON each share at any time, and thirty
days must elapse before another cau can be
made.
SEC. 8, No stakeholder sh&u be held liable ORE
sponsible for the contracts and faults OF the com
pany in any further sum than the unpaid balance
or balances due the company on shares cWned py
him. nor shall any informalities in the organizat
ton have the effect of annullng this Charter, or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid
Sec. 4. The domicile Of the company shall be
the CITY of New Orleans, and citation shall be
served there on the President OF the company, or
in his absence on the Ylce-Presidenr.
SEC. s. The ock books shall be kept at the
Office of the Company, whence certiicates OF STOCK
shall be issued to the subscribers but no trans
fer of stock shall be binding upon the Company
until made upon its stock books, and no stock
certificate shall be issued except for full paid
stock.
SEC. G. In the case Of failure on the part of any
subscriber to pay the in-talments on hls stock az
REQUIRED. the Board Of Directors shall have the
option, after thir days written notice to the
denouent, Of forfeiting his stock, or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC T. All rules relative to the declaration OF
dividends or divisions of profits, as well as the
bylaws of the Company, shall be made by the
Board Of Directors, but said rules and bylaws
shall be subject to repeal, change or modifca-
ton by the holders Of a majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
lied:
First-To locate construct lease, own and use
railroad with one or more tracks and suitable
turnouts Of such guage and construction and
upon such course or route as may be deemed
by majority of the Directors OF said company
most expedient, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville, on the right
bank of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwlcks
cite, and Opelousas, in the parish OF st. Landry,
or from any of said points, or from any point
within the limits of this State, and running thence
towards and to the city OF Shreveport or the
city OF Marshall Dallas in the State OF Texas, in
such direction and route or routes as said company
shall fix, and with such connecting branches Ill
the State of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own, MAIN
tain and use such branch railroads ana tracks as
majority of the Directors OF said company may
from time to time deem proper and expedent
and for the interest of said company to own and
to use and lease and they shall not be restricted
in the exercise of this privilege to the State of
Louisiana, but may, connect thelr main hne with
anv other line or lines in other States which
shall authorize the exercise OF said privilege
within their limits, and the said company shall
have a right to establish and maintain IN the
city OF New Orleans proper freight and passen-
ger depots. and to connect them by tracks and
ferries with the left bank of the Mississippi River
at such point or points as may be deemed most
for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes of such depots, tracks ana fer
ries. may acquire property by appropriation.
Third-To construct, establish, or purchase IN
this State and thereafter, to own, lease, MAN.
tain and use suitable wharves, piers, warehous 6.
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances connected Win
and incidental to said railway and its connec-
tions, and to run and manage the same as the
Directors Of the said Company may deem to be
most expedient and to the welfare OF said corpo-
ration.
Fourth-To take, transport, carry and convey
persons and property upon its said railway and
its boats, by power Of steam or any other power
chandise and property in its yards or warehouses,
and to receive for such transportation, safekeep-
from time to time be established or authorized to
be established by Directors of said railroad COM
pany.
To make advances of money or credits upon
or property, for changes made by
other transportation lines to be transported upon
its railways, steamboats, or vessels, or to be
tored in its yards or warehouses to such extent,