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

BE 1T KNOWN, That on this twenty-nnt
day OF the month of June, in the year of on
Lord one thousand eight hundred and seventy
> fve and Of the United States of America tn
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:
4 Personally came and appeared, G.. W. R. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
: JOHN PHELPS, JOHN q. KENNARD, CYRUI
gUSsEY, GEORGE JONAS, ": B: SCHMIDT
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That, ayailing themselves of the powers
rights and privileges conferred by the sta
tutes of the State of Louisiana, relative
to the Organization of Corporations" il
thi State, they do, by these presents, form
organize, constitute and found a Corporation TO,
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-
sttute, 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-
lations 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 rame 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 corpora ton is
hereby fixed at THREE MILLION DOLLARS
(s3, 600, OO0), represented by THIRTY THOU-
SAND SHARES Of ONE HUNDRED DoLLARs
(s10o) 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 1871 io 0fieer y,-I p B. WHEEL0cK,
s. Fl. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars $3.50 OOO) of the
capital stock shall have been subscribed. the
Board of Directors are authorized to commence
provisions Of thiU charter; to enable them to do
this, subscriptions to the capital stock shall be
due and payable as herein provided for when
this amount has been subscribed.
SEC. 2. The time and manner of payment for
stock shall be such may be determined by the
Board OF Directors, provided, however, that no
call shall be made of more than ten per cent 40
per cent? on each share at any time and thirty
days must elapse before another call can be
made.
Sec 8. No stakeholder shall be held liable ORE
sponsble 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 info malities in the organiza.
ton have the effect of annulling this Charter, or
)f exposing stakeholder to any liza ity beyond
5he amount of his stock subscription paid a
SEC. 4. The domicile of the company shall be r
he city of New Orleans, and citation shall be =
erved there on the President of the company, or 8
u his absence, on the VIce-Presidenr. r
Sec 5. The ock books shall be kept at the q
fce of the Company, whence certificates of stock a
hall be issued to the subscribers, but no trans
err of stock shall be binding upon The Company
ntil made upon its stock books, and no stock | f.
ertiicate shall be issued except for full paid ii
took. "
Sec. 6. In the case of failure On the part of any
ubscriber to pay the iastallments on his stock as
equired, the Board of Directors shall have the
ption, after thr Y days written notice to the
of forfeiting his stock, or the amounts 49,
revlously paid thereon and no stakeholder 81
hall have the right to vote while in default Ok
Sec. 7. All rules relative to the declaration of p
vidends or divisions of profits, as well as the =.
y-laws of the Company, shall be made by the "
GARD of Directors, but said rules and bylaws ~
lall be subject to repeal, change. or modfca- a.
on by the holders # majority of the stock of 81
lie Company at their meeting. "
ARTICLE III. th
GENERAL, powFpa
The said company is empowered and author pr
ed: Fl
First-To locate, construct, lease, own and use wi
railroad with one or more tracks and suitable to-
rnouts, OF such guage and construction and no
ION such course or route as may be deemed WI
a majority OF the Directors of said company
ost expedient, beginning at point on the Mis-
'sippi River at New Orleans, or between New
nix of the Mississippi, and Baton Rouge on the
t bank; or from New Orleans or Berwicks
y, via Vermillionville, in the parish OF Lafay-
e, and Opelousas, in the parish of st. Landry,
thin the limits ofthis State, and running thence
wards and to the city of Shreveport, or the
y of Marshall or Dallas, in the State of Texas. in
,h direction and route or routes as said company
Ill fix, and with such connecting branches in
, State Of Louisiana as may be deemed
)per.
'econd--To locate, construct, lease, own. main J
n and use such branch railroads and tracks as L
laJOflty or tne directors OF said COMPANY NAV gag
m time to time deem proper and expedient Me-
for the interest of said company to own and and
Use and lease, and they shall not be restricted Orl
he exercise of this privilege to the State of dull
lisana, but may connect ther main line with boo
other line or lines in other States which 632.
ii authorize the exercise of said privilege n
hin their limits, and the said company shall {
9 a right to establish and maintain in the
of New Orleans proper freight and passen- I
depots, and to connect them by tracks and and
les Vith the left bank of the Mississippi River tifc
uclDboint or points as may be deemed most curr
venient for the public interest, and to use in In
1 ferries steamboats, and other vessels. and my
the purposes Of such depots, tracks and fer Sd
may acquire property by appropriation
lird-To construct, establish, or purchase in iy
State, and thereafter, to own, lease, main =
and use suitable wharves, piers, warehouses
Is, steamboats,, harbors, depots, stations. and
r works and appurtenances con- ected with
incidental to said railway and it's connec
J, and to run and manage the same as the
ctors of the said Company may deem to he
expedient and to the welfare Of said corpo
q.
take, transport, carry and convey
1ns and property upon it's said railway and
pats, by power Of steam or any other power