The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-24

do hereby covenant and agree to form and col
stitute, and do, by these presents, form and col
n stitute themselves, and all such other persons
. may hereafter become associated with then
. whether by subscription, purchase. transfe
d succession or otherwise, into BODY Co
4 porate," and hereunder bind themselves, an
all who may hereafter become associated wit
them, to be governed by the following stipl
= lations, obligations and regulations as articles
the charter OF said Corporation.
y ARTICLE 1.
NAME.
The name and title of said corporation shall b
, | the NEW ORLEANS PACIFIC RAILWAY CON
PANY, and by that pane shall have Succession
: and have corporate exl-tence for and during tn
full term and period Of twenty-five (25) year
from the date Of the execution OF these presents
unless sooner dissolved in the manner herelnafte
provided for; may sue and be sued, may hol
real and personal property, may make contracts
, may receive grants OF land or personal property
and shall possess all the powers and privilege
which corporations are or may be by any geners
law of this State authorized to possess, and sal
company may exerciseits corporate powers With
any other State of the United States that sha
| authorize the same.
ARTICLE II.
CAPITAL STOCK.
Sec 1. The capital stock of this corporation i
hereby fixed at THREE MILLION DOLLAR.
$1,000 00o), represented By THlRTY Tao ~
|
($10O) EACH with the right to increase sail
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators herein named, WIN
shall constitute the Board OF Directors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers O.
the Company until the second Wednesday il
January, 1877: Officers, E. B. WHEELOCK
President; HUGH KENNEDY, Vice President
s. H. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars (s150, O00) of the
| capital stock shall have been subscribed, the
| Board Of Directors are authorized to commence
| the construction ofthe road and to carry out the
provisions Of thiD charter; to enable them to do
| due and payable as herein provided for when
| this amount has been subscribed.
| SEC. g. 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 call can be
made.
SEC. g. No stakeholder shall be held liable or re-
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 owned by
him. nor shall any nformalities in the organiza-
ton have the effect Of annulling this Charter or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec A. 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 Vice-President.
SEC s. The 8 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 The 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
subscriber to pay the instsllments on his stock as
required, the Board OF Directors shall have the
option, after thir days written notice to the
delin hent, of forfeting his stock Or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC. 7. 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 modifica-
ton by the holders # q 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
bank of the Mississippi, and Baton Rouge on the
left bank or from New Orleans or Berwick's
Bay, via Vermillionvile, in the parish of Lafay-
cite, and Opelousas, in the parish OF st. Landry,
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, in
such direction and route routes as said company
shall fix, and with such connecting branches in |
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 |
a majority of the Directors of said company may |
from time to time deem proper and expedient |
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
within their limits, and the said company shall
have right to establish and maintain in the
city of New Orleans proper freight and paesen-
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, main
tain and use suitable wharves, piers, warehouss
Yards. steamboats,, harbors depots, stations, and
other works and appurtenances connected with
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
It's boats, by power of steam or any other power,
and to receive for safekeeping and to store mer-
,haudise and property in it's yards or warehouses,
and to receive for such transportation, safekeep-
ing or storage such tolls and charges as may
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 trat sportation lines to be TT transported upon
It's railways, steamboats, or vessels, or to be
stored in it's yards or warehouses to such extent,
md upon such terms and conditions as the Direc-
;ors of said Company may from time to time es-
sblsh or authorize to be established.
Fifth-To obtain and receive by purchase,
yrant from United States or otherwise, grant, gift,
ievse and bequest, both real snd personal prop
,rty, to have and to hold such real and personal
eal estate, in this State, for the objects. pur-
,oses interests and business of such Company
S;xth IT, oo,Strnot N m aiptap ia sai6 rail