The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-04
CHARTER.
STATE OF LOUISIANA

: /
STATE OF LOUISIANA, !
PARISH OF ORLEANS, CRY OF New ORLEANS,
BE 1T KNOWN, That on this twenty-nintl
day OF the month of June, in the year of oul
Lord one thousand eight hundred and seventy.
i've, and OF the United States of America the
ninety ninth.
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 presence of the witnesses here
matter named and undersigned:
Personally came and appeared, G. w. R. BAY
LEY, Z. B. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN H. KENNARD, CYRUS
JAMES A. GIRDNER, JULIUS WEIS, Z. l..
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severalIy declared
That, availiug. themselves of the 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 a 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 hereafter become associated with them,
whether by subscriph n, purchase. trans fer,
| succession or otherwise, into Body Cor
pora,e," and Hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stipu-
atiops, obligations and regulations as articles of
the charter Of said Corporation.
ARTICLE /.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that came 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.
ias N ma hara ft.,l
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 posse SO, and said
company may exercise its corporate powers within
any other State Of the United States that shall |
authorize the same.
ARTICLE H.
CAPITAL STOCK. |
SEC. 1. The capital stock of this corpora ton is
hereby fixed at THREE MIL. ION DOLLARS |
(s3,000,000), 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 Direct RS and shall
hold their Office, together with the following
named gentlemen, who shall be the officers Of
the Company until the second Wednesday in
January, 1877 officers, L B. WHEELOC X,
President; HUGH KENNEDY, Vice President;
dred aud fifty thousand dollars $780, 0O) 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
due and payable as herein provided for when
his amount has been subscribed.
SEC. 2. The time and manner of payment for I
stock shall be such as may be determined by The t
Board OF Directors, provided, however that no T
AL shs be made of more than ten per cent no :
Der cent? on each share at any time, and thirty
lays must elapse before another call can be q
made. I
SEC g. No stakeholder shau be held liable or re-
ponsibe for the contracts aud faults of the COM
,any in any farther sum than the unpaid balance L
n balances due the company on shares owned by | e
Tim, nor shall any informalities in he organiza-
ion have the effect OF annullng this Charter, or
# exposing stakeholder to any liability beyond
he amount OF his stock subscription unpaid.
SEC. 4. The domicile Of the company shall be a
he city of New o leans, and citation shall be !
erved there on the President Of the company, or y
o his absence on the Vice-Presdent.
SEC. 5. The ock books shall be kept at the y
flee OF the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
Or OF stock shall be binding upon The Company :"
nti made upon its stock books, and no stock O.
ertifcate shall be issued except for full paid :,
tock. VI
Sec 6. In the case of failure on the part of any
lbscriber to pay the installments on his stock as
,quired, the Board of Directors shall have the
otion, after thir days written notice to the
einquent, of forfeiting his stock, or the amounts
-eviously paid thereon; and no stakeholder sc
lall have the right to vote while in default. ps
SEC. T. All rules relative to the declaration of gu
vidends or divisions of profits, as well as the th
Laws of the Company, shall be made by the m
BARD Of Directors, but said rules and bylaws th
all be subject to repeal change or modif1ca- sh
IN by the holders f majority of the stock of co
e Company at their meeting. al
til