The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-12

CHARTER.

not to impair its usefulness to the pubnc unnec'
essarily; or if temporarily impaired IN ana durns
the construction of the said railroads, tne salu
company shall restore the same 10 lts lornie
state, or to such state that it's usefulness and
CONVENIENCE to the public shall not be unneces-
sarily impaired or injured, and the SAID company
shall not be required to construct draw IN any
| bridge over and across any stream or bayou,
except streams navigabe by enrolled ana IL
| censed vessels. and when required by law.
Seventh-To obtain. by grant or otherwise,
from any parish city or village within this State,
any rights, privileges or franchises that any OF
said parishes, cities or villages, may choose TO
| Grant in reference to the construction, malute.
nance management and use O 1.-THE railroads OF
| said company, is depots, cars, locomotives and
| lis business, within the limits of such or any OF
said parishes, cities and villages.
| Eiehth-To expropriate property according to
| existing laws. :.
Ninth-To cross, intercept, join and unite its
RAILWAYS, and prorate with any other railroad
heretofore or hereafter constructed IN the state
of Louisiana, or any other State, at any point
upon its route and upon the ground OF such
| other railroad with the necessary turn-outs,
sidings, switches and other conveyances, in
| furtherance of the objects OF its connections
Tenth-To purchase or lease from any railroad
| company or corporation, at any authorized SAFE
| any railroad, and the charter, franchises, prop
| erty and appurtenances thereof, and MAINTAIN
and use the same part OF the property OF
| this company.
Eleventh-To borrow money or to purchase or
| lease property on its own CT edit, fer the purpose
of constructing and maintaining said rallroaGs OF
| establishing continuous and connecting ines as
| herenbefore provided; and as evidence OF the H.
| debtedness OF said company for snch loans, or
the purchase or lease OF such property, to issue
It's corporate bonds or promlssory notes, bea ing
| interest at such rate per annum as the directory
may elect and made payable in gold or the law
| full money of the United States at such times ana
| places as may be deemed most to the advantage
| Of the corpora ions, and for securing the pay
ment of said bonds or notes, to mortgage and
pledge its railroads. its capital stock, It's corpor-
| ate franchises and any of its real or personal
property, or any portion OF the same.
| ARTICLE w.
| BOARD OF DIRECTORS.
| SEC. 1. The corporate powers of this Compa-
| nv shall be vested IN Board of Directors COM
| posed of fifteen stockholders to be elected IN
| accordance with the bylaws OF the COMPANY,
and such officers and agents as may from time 10
| time be appointed by such board. No person
shall be director who is not the actual owner OF
| at least ten (l0) shares OF the capital STOCK OF
said Company Directors shall be elected an
| nually, and continue in office until others are
elected to fill their place. and shall nave power 10
| fill vacancies in their number caused by death,
| resignation or otherwise. The di, ectors shall
| elect one of their number as President OF SAID
Company, another Vice President, and another
Treasurer, and shall have power to make and
|
and from time to time alter, amend ana revoke
the same as they shall see tit touching the govern
ment of said Company, the transfer OF Its STOCK.
the election of its officers, the management and
dlsposi ion of its business, property and effects,
the powers and conduct Of its officers and agents,
ana all other matters which shall in any way per-
tain to the concern of the Company
SEC g. All election for directors shall be by
ballot, and every stakeholder shall be emit led
| to Dne vote in person or by proxyfo each share
| AL Inv for
| such election.
| SEC g. Seven of the directors shall constitute
| quorum for the transaction OF business, and
| the number of directors may be increased or
diminished by majority vote OF stockholders In
interest at any regular meeting, provided the mum
Der shall not be less than seven Nor more than
| fifteen.
| STOCKHOLDERS MEETINGS.
Sec. /. Stockholders meetings may be called
| at any time by the Board OF Directors and on the
requisition Of the holders Of One-ffth OF the
capital stock issued it shall be their duty to call
| such meetings for the purpose OF amending this
| Charter and consideration OF and action upon all
other business of the company, and all questions
arising at such meetings shall be determined by
| majority of the stock there present and voting.
| SEC q The annual meeting of the stockholders
| for the election of directors and transaction of
| the regular business shall be held on the second
Wednesday in January OF each year.
| ARTICLE VI.
| LIQUIDATION.
| This corporation may be dissolved at general
meeting convened for that purpose with the as
sent of three-foufths of the stock of the COM
pany and two thirds of the stock represented at
| such meeting, and in case OF such dissolution
| the liquidation shall be conducted by three COM
missioners elected by ballot a. such meet ng. at
| the termination of this Charter, the liquidation
| shall be conducted by similar board of three
| commissioners, to be in the same way elected at
a general meeting OF stockholders convened for
| the purpose.
| Thus done and passed. at my Office, in the
| presence of Andrew j. Armstrong and John W.
| Hunter, lawful witnesses residing in this city,
who have hereunto signed their names as such,
together with the said appearers and me, said
notary, on the day, month and year herein first
| written, after reading the whole
Original Signed) G. w. R. BAYLEY,
| ia. GIRDNER,
| GEO. JONAS,
| JULIUS WEII,
| HUI. KENNEDY,
DAVID WALLACE,
| F. b. WHEELOCK,
| E. L. RANLETT,
| JOHN H. KENNARD,
| CYRUS BUScEY.
JOHN pH III p: '''
| w. B. SCHMIDT,
SAM'I H. KENNEDY,
i
| JOHN W. HUNTER,
| J. G. EUSTIS. Notary Public.
| l. the undersigned Deputy Recorder Of Mort
cages in and for the parish of Orleans, city Of
New Orleans, do hereby certify that the above
and foregoing act Of incorporation of the New
Orleans Pacific Railway Company was this day
duly recorded in my Office, according to law, in
book lis, foios 626, 627, 62S, 629, $50, 631 and
632.
New Orleans, June 20, 1875.
| Original signed.) G. DARCANTEI.
| Deputy Recorder.
| certify the above and foregoing to be true
and correct copy of the original charter and GER
tifcate of recordation thereof, now extant in my
| current register.
In faith, whereof, I grant these presents under
my hand and the impress of my official seal, this
3D. day of July, A. D. 1875.
| J. G.. EUSTIS, Notary Public.
| i've I'm IS Carondelet street.
| Mrs. III. 4. Elliott,