The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-25
CHARTER.
STATE OF LOUISIANA,

| CHARTER.
| STATE OF LOUISIANA,
PARISH OF ORLEANS CRY OF NEW ORLEANS,
BE IT KNOWN, That on this twenty
day OF the month of June, in the year OF our
Lord one thousand eight hundred and seventy
FIVE and of the United States OF America the
ninety-ninth.
Before me, JOHN G. EUSTIS, Notary Pub
lie, in and for this CITY, 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 ana appeared, g: "; r; BAY
LEY, E. 3. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN y. KENNARD, CYRUS
BUSSEY, GEORGE JONAS W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WEIS,, E. l..
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severaly declared
That, ayailing. themselves OF the powers
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 TOR
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
NAV hereafter become associated with them,
whether by subscription, purchase transfer
succession or otherwise, into q Body Cor
porate," and hereunder bind themselves and
all who may hereafter become associated with
them to be governed by the following stipu-
latons, obligations and regulations as 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 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 TIE powers and privileges
| which corporations are or may be by any genera
law of this State authorized to possess and said
company may exerciseits corporate powers within
any other State OF the United States that shall
authorize The same.
ARTICLE II.
CAPITAL STOCK.
SEC. /. The capitN stock Of this corporatio is
hereby fixed at THREE MILLION DOLLARS
| ($3, GOO, 00G), represented by THIRTY TtOU
SAND SHARES OF ONE HUNDRED DOLLARS
| (s100) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
uuder 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 B. WHEELOt-K,
President; HUGH KENNEDY, Vice President;
S. FL. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $780, OG) of the
cal ital 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 may be determined by the
Board Of Directors, provided, however, that no
call shs Il be made of more than ten per cent 90
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 ORE
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-Presdent.
SEC 5. The stock 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. g. In the case of failure on the part of any
subscriber to pay the indictments on hs stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent of FORGETTING his stock, or the amounts
previously paid thereon; and no stockholder
shall have the right to vote while in default.
SEC 7. All rules relative to the declaration Of
dividends or divisions CT profits, as well as the
bylaws of the Company, shall be made by the
ard IF Directors II
shall be subject to repeal change or modjfca-
ton by the holders # 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 OF 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 |
Orleans and the parish OF Iberville. on the right
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 |
or from any Of said points, or from any point |
within the limits of this State, and running thence
towards and to the city of Shreveport, or the |
city of Marshall Dallas in the State of Texas, in
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
and for the interest of said company to own and
to use and lease, and they shall not be restricted
in the exercise Of this privilege to the State of
Louisiana, but may connect their main line with
any other line or lines IN other States which
shall authorize the exercise of said privilege
within their limits, and the said company shall
have right to establish and maintain in the
city of New Orleans proper freight and psssen-
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 DE 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
RES may acquire property by appropriation.
Third To construct establish purchase in
hs State, and thereafter, to own, lease, main
ain and use suitable wharves piers, warehouse
7ards, steamboats, harbors, depots, stations and
other works and appurtenances connected with
md incidental to said railway and its connec-
ions, and to run and manage the same as the
Of ba Copparv NOV Jaap, 70 |