The New Orleans bulletin., 1875-12-23
CHARTER.

not to impair its usefulness to the public unnec'
essarily; or if temporarily impaired in and during
the construction OF the said railroads, the SAID
company shall restore the same to its former
state, or to such state that its usefulness and
| CONVENIENCE to the public shall not be unneces-
sariy 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 navigable by enrolled and Ii
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 III reference to the construction, mainte-
nance management and use 1.-THE railroads Of
| said company, is depots, cars, locomotives and
its business, within the limits OF such or any of
said parishes, cities and villages.
| Eighth-To e1proprl2te property according to
existing laws.
Ninth-To cross, intercept, Join and unite its
| railways, and prorate with any other railroad
heretofore or hereafter constructed i'll 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 conTeyances, in
furtherance of the objects of its connections.
Tenth-To purchase or lease from any railroad
company or corporation, at any authorized sale,
any railroad, and the charter, franchises, prop
erty and appurtenances thereof, and maintain
ana use the same d part OF tho property Of
this company.
EIeventh-To borrow money or to purchase or
lease property on its own credit for the purpose
OF constructing and maintaining said railroads on
establishing continuous and connecting lines as
hereinbeiore proyided and rs evidence of the in
debtedress CT said company for such loans, or
the purchase or lease OF such property to issue
its corporate bonds or promissory n0tea, bea ing
interest at such rate per annUm as the directory
may eject and made payable in gold or the law
ful money of the United States at such times and
places may be deemed most to the advantage
of the corporations, and for securing the pay
ment OF said bonds or notes. to mortgage and
pledge its railroads. its capital stock, its corpor-
ate franchises and any of its real or personal
property, or any portion OF the same.
ARTICLE ".
BOARD OF DIRECTORS.
SEC. l. The corporate powers of this Compa.
uy shall be vested III Board Of Directors COM
posed Of fifteen stockholders to be elected in
accordance with the bylaws of the Company,
and such officers and agents may from time to
time be appointed by such board. No person
shall be director who Is not the actual owner OF
at least ten (10) 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 have power to
I'LL vacancies In their number caused by death,
resignation or otherwise. The directors shall
elect one of their number as President of said
Company, another Vice President, and another
Treasurer, and shall have power to make and
prescribe such bylaws and rules and regulations
and from time to time alter, amend ana revoke
the same they shall see fit touching the govern
ment of said Company, the transfer Of it's stock
the election OF its officers, the management and
disposition of its business, property and effects,
the powers and conduct ofits officers and agents,
ana all other matters which shall in any way per-
tam to the concern of the Company.
SEC. g. All election for directors shall be by
ballot, and every stakeholder shall be enti led
to one vote in person or by proxy for each share
of stock held by him for ninety days prior to
such election.
SEC. g. Seven of the directors shall constitute
d 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 num-
Der shall not be less than seven nor more than
fifteen.