The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-17
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS City OF NEW ORLEANS,
BE 1T KNOWN, That on this twenty-nint
day OF the month of June, in the year of on
five, and of the United States of America tn
ninety ninth.
Before me, JOHN G. EUsTIs, a Notary Pub
lie, 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: ". r: BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN q; KENNARD, CYRU;
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
thi State, they do, by these presents, form
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
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-
ations, obligations and regulations as articles OF
the charter Of said Corporation.
ARTICLE l.
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
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 corporation is
hereby fixed at THREE MILLION DOLLARS
49, 00,G00), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(S100) 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
R60ll6lu6D, WHO SLdll Ut tU6 OIlCGfS OF f,
the Company until the second Wednesday in
January, 1877: Officers, E. B. WHEELOCK,
President: HUGH KENNEDY, Vice President;
S. 81. 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 thiD charter; to enable them to do |
this, subscriptions to the capital stock shall be
due and payable as herein provided for when
h hoe haop 11,oa had
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
all shall be made of more than ten per cent 10 |
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
i'm, nor shall any informalities in the organize
ion have the effect Of annulling this Charter, or
# exposing a stakeholder to any liability beyond
he amount OF his stock subscription unpaid.
Sec. 4. The domicile Of the company shall be
erved there on the President of the company, or
4 his absence on the Vice-President.
Sec. 5. The g ock books shall be kept at the Z
flee of the Company, whence certificates of stock
hall be issued to the subscribers but no trans
n of stock shall be binding upon The Company |
ntil made upon its stock books, and no stock {
ertifcate shall be issued except for full paid /
.ock. II
Sec 6. In the case of failure on the part of any
lbscriber to paw the installments on his stock az
,quired, the Board of Directors shall have the
otion, after thir days written notice to the
3linquent, of FORGETTING his stock or the amounts
reviously paid thereon; and no stakeholder 9
lall have the right to vote while in default.
Sec. 7. All rules relative to the declaration of +
vidends or divisions of profits, as well as the !.
laws of the Company, shall be made by the y
oard of Directors, but said rules and bylaws =
all be subject to repeal, change or modifca- .
IN by the holders of a majority OF the stock of q
q Company at their meeting.
ARTICLE III. i
GENERAL POWERS.
The said company is empowered and author p
First-To locate, construct, lease, own and use "
'ailroad with one or more tracks and suitable tt
rnouts, OF such guage and construction and n
on such course or route as may be deemed W
majority OF the Directors OF said company
ost expedient, beginning at point on the Mis-
sippi River at New Orleans, or between New
leans and the parish OF Iberville, on the right
nix of the Mississippi, and Baton Rouge on the
t bank; or from New Orleans or Berwick's
y, via Vermillionvile, in the parish OF Lafay-
e, and Opelousas, in the parish of St. Landry,
from any of said points, or from any point
thin the limits fthis State, and running thence
wards and to the city of Shreveport. or the
OF Mar5nau OF OallaS III the STATE OF IeXaS, IN
ch direction and route or routes as said company
Ill fix, and with such connecting branches in
, State of Louisiana as may be deemed
oper.
second To locate, construct, lease, own, main
n and use such branch railroads and tracks as
majority of the Directors of said company may ga
m time to time deem proper and expedient NJ
for the interest Of said company to own and an
use and lease and they shall not be restricted Or
the exercise Of this privilege to the State of du
usiana, but may connect tbeir main line with DO
other line or lines in other States which 63:
III authorize the exercise Of said privilege
hin their limits and the said company shall
7e right to establish and maintain in the
of New Orleans proper freight and passen-
depots, and to connect them by tracks and an
lies with the left bank of the Mississippi River tiff
uch point or points as may be deemed most cul
venient for the public interest, and to use in !
h ferries steamboats, and other vessels, and my
the purposes of such depots, tracks ana fer 30
/, may acquire property by appropriation. d.
hird-To construct, establish, or purchase in j
State, and thereafter to own, lease, MAIN =
and use suitable wharves, piers, ware houses,
Is, steamboats,, harbors, depots, stations, and
Or works and appurtenances corrected with