The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-25
CHARTER.
STATE OF LOUISIANA,
Z ORLEANS. CRY OF NV ORLEANS

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
Lord one thousand eight hundred and seventy
five, and Of the United States Of America tn
ninety ninth.
Before me, JOHN G. EUsTIs, 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:
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN q. KENNARD, CYRUS
| BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIs, Z. l.
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
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 here after 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-
latioDs, 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 pane shall have succession,
and have corporate ext tence 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 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 posse So, and said
company may eXerciseits corporate powers within
my other State of the United States that shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
Sec. /. The capital stock Of this corporation is |
hereby fixed at THREE MILLION DOLLARS |
$3,000,000), represented by THIRTY THOU |
'AND SHARES of ONE HUNDRED DOLLARS
$lO0) EACH, with the right to increase said |
provided that said corporation shall be organized
lnder the incorpOrators herein named, who
hall constitute the Board Of Direct RS and shall
odd their Office, together with the following
he Company until the second Wednesday in
anuary, 1877: Officers, E. B. WHEELOCK,
HUGH KENNEDY, Vice President:
Fl. KENNEDY, Treasurer. When one hum
red and fifty thousand dollars ($l50,0C0) of the
apital stock shall have been subscribed, the ,
oard of Directors are authorized to commence
lie construction Of the road, and to carry out the
rovisions of THU charter; to enable them to do
liz, subscriptions to the capital stock shall be 8
he and payable rs herein provided for when t
lis amount has been subscribed.
Sec. 2. The time and manner of payment for |
ock shall be such as may be determined by the 1
Dard of Directors, provided, however, that no Z
ii shall be made Of more than ten per cent 40 4
n cent? on each share at any time, and thirty
Tvs must elapse before another call can be a
sde. I
SEC. g. No stakeholder shat be held liable or re- d
onsible for the contracts and faults OF the COM il
ny in any further sum than the unpaid balance b
balances due the company on shares owned by e
m, nor shall any informalities in the organiza-
N have the effect of annulling this Charter, or
exposing stakeholder to any liability beyond
e amount of his stock subscription unpaid.
SEC. 4. The domicile of the company shall be q
e city of New Orleans, and citation shall be -
wed there on the President of the company, or -
his absence, on the Vice. President. n
SEC. 5. The ock books shall be kept at the "
ice of the Company, whence certificates of stock
all be issued to the subscribers, but no trans
Of stock shall be binding upon The Company :"
til made upon its stock books, and no stock e.
'tifcate shall be issued except for full paid 4,
'ck. VI
Sec 6. In the case of failure on the part of any
)scriber to pay the in tallments on his stock as
uired, the Board Of Directors shall have the
ion, after thir days written notice to the
inquent, of FORGETTING his stock, the amounts m
viously paid thereon and no stakeholder Sc
IL have the right to vote while in default. pa
&c. Z. All rules relative to the declaration of su
idends or divisions of profits. as well as the tn
laws of the COMPANY shall be made by the m
lrd of Directors, but said rules and bylaws tn
II be subject to repeal, change or modifica- sh
by the holders q a majority of the stock of co
Company at their meeting. al