The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-03
THE NEW BULLETIN, WEDNESDAY NOVEMBER 1876
CHARTER.
STATE OF LOUISIANA.

STATE OF LOUISIANA,
PARISH OF ORLEANS, Cry OF NEW ORLEANS,
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
fve and of the United States of America the
ninety-ninth.
Before me, JOHN G. EUs1Is, Notary Pub
Gc 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, E. B; WEEEL0CK, HUGH KENNEDY NED
JOHN PHELPS, JOHN Il. KENNARD, CYRUS
JAMES A. GIRDNER, JULIUS WELS, E. l..
RANLETT and DAVID WALLACE, all resi-
dents of this city, who seyeraly declared
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, in
thi. State, they do, by these presents, form,
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 and con-
stitute, and d. 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 'sBody 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 articles of
the charter Of said Corporation.
ARTICLE 1.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name 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,
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 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 she same.
ARTICLE II.
CAPITAL STOCK.
Sec. 1. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
t$3,0OO,00O), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1Oo) 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 following
named gentlemen, who shall be the officers of
the Company until the second Wednesday in
January, 1877: Officers, E 3. WHEELOH X,
President; HUGH KENNEDY, Vice President;
S. H. KENNEDY, Treasurer. When one hun
dred aud fifty thousand dollars (sl5O,OO0) 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 THU 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 as may be determined by the
Board of Directors, provided, however, that no
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. s. No stakeholder shall be held liable or re-
sponsible for the contracts aud 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 organiza-
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 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-Presidenr.
SEC. S. The ock books shall be kept at the
Office of the Company whence certificates of stock
shall be issued to the subscribers, but 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. G. In the case of failure on the part of any |
subscriber to pay the tallments on his stock as
required, the Board of Directors shall have the |
option after thr days written notice to the |
of forfeiting his stock, or the amounts
previously paid thereon aud no stakeholder |
hall have the right to vote while in default
Sec Z. All rules relative to the declaration of
dividends or divisions of profits, as well the |
by-aws of the Company, shall be made by the |
Board Of Directors, but said rules and bylaws
shall be subject to repeal, change or modifca-
lion by the holders # majority Of the stock OF
,he Company at their meeting.
ARTICLE III.
GENERAL POWERS.