The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-10
CHARTER.
STATE OF LOUISIANA,

BE 1T KNOWN, That ON this twenty-ninth
day Of the month of June, in the year OF our
Lord one thousand eight hundred and seventy
FIVE and of the United States OF America the
Before me-, JOHN G. FUs1Is, Notary Pub
lie. in and for this CITY, and paflsh OF Orleans,
State of Louisiana, duly commissioned and 4uaH-
fed, and in the presence of the witnesses here
matter named and undersigned;
LEY, E. B. WHEELoCK, HUGH KENNEDY 7lo4
JOHN Phelps, JOHN Il. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS Wells, Z. H.
RANLETT and DAVID ar MahL dscIsre al resi-
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 III
thi. State, they do, by these presents, Ioriu,
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 ana con-
stitute, and do, by these presents, form and con-
stitute themselves, and all such other persons DIS
NAV here after become associated with them,
whether by subscription, purchase, trans ter,
succession or otherwise, into BODY Cor
porate," and hereunder bind themselves, ana
all who may hereafter become associated Win
them, to be governed by the following stipu-
ations 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 pane shall have succession
and have corporate exi-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 sue and be sued, may hold
real and personal property, may make contracts,
NAV receive grants OF land or personal property,
and shall possess all the powers and privileges
which corporations are or may be by any genera,
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. l. The capital stock Of this corpora ton Is
hereby fixed at THREE MILL ION DOLLARS
$4,000, OO0l, represented by THIRTY ThCU-
SAND SHAPES OF ONE HUNDRED DOLLARS
(s1O0) 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 l9l.oWlnS
named gentlemen, who shall be the officers OF
the Company until the second Wednesday IN
January, 1871: Officers, e B. WHEELO X,
President; HUGH KENNEDY, Vice President;
S. Il. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars (sl50,0C0) of the
ca pital stock suall have been subscribed, 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 DO
this, subscriptions to the capital stock shall be
due and payable as herein provided Tor when
this amount has been subscribed.
SEC. q TIE 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 ~
per cent) on each share at any time, and thirty
days must elapse before another call can be
SIC. 3. No stakeholder shau be held liable or re-
sponsble for the contracts aid 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 informalities in the organlza-
ton have the effect Of annuling this Charter, or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid
SEC 4. The domicile OF the company snail be
the city Of New o leans, and citation shall be
served there on the President OF the company, or
in his absence, on the Vice-President.
SEC 5. The ock books shall be kept at the
Office of the Company whence certificates OF STOCK
shall be issued to the subscribers, but no trans
fer Of stock shall be binding upon he Company
until made upon its stock books, and no stock
certificate shall be issued except for full paid
stock.
SEC. 6. In the case of failure on the part of any
suDSrrlber to pay the StOCh
REQUIRED, the Board of Directors shall have the
option, after thir days written nouce to the
deliauuent, of forfeitng 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 oil
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 moditca.
ton by the holders a majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company ID 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
Bay, via Vermillionville in the parish of Lafay-
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 or Dallas, in the State OF Texas, IL
such direction and route or routes as said company
| shall fix, and with such connecting branches il
the State of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own, main.
tain and use such branch railroads and tracks as
majority Of the Directors of said company may
from time to time deem proper and expedient
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 teeir main line with
any 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
convenient for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes of such depots, tracks and fer
ries, may acquire property by appropriation.
Third To construct establish, or purchase in
this State, and thereafter, to own, lease, main
tain and use suitable wbarves, piers, warehoust g.
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances con- ected with
and incidental to said railway and its connec-
tons, 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.