The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-12
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CHARTER.
STATE OF LOUISIANA,
PARIsH or ORLEANS, CITY OF NEW ORLEANS

| STATE OF LOUISIANA,
PARIsH OF ORLEANS, City OF NEW ORLEANS, {
BE 1T KNOWN, That on this twenty mint
day OF the month of June, in the year OF on
Lord one thousand eight hundred and seventy
five, and Of the United States of America tn
ninety-ninth.
Before me, JOHN G. EUS1IS, 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 and appeared, g. w. X. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
| BUSSEY, GEORGE JONAS, W. b. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. l.
dents Of this city, who severaly 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 do, by these presents, form and con-
may hereafter 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 name shall have succession,
and have corporate exi-tence for and during the
full term and period of twenty-five (25) years
fro, he 10 IN ~ IF fhasa
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,
aud 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
($3, 000, 000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
($1O0) 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
III,
the Company until the second Wednesday in
January, 1877: Officers, E. B. WHEELOCK,
HUGH KENNEDY, Vice President;
5. H. KENNEDY, Treasurer. When one hun
lred and fifty thousand dollars $780, 00) Of the
"a 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 this charter; to enable them to do
his subscriptions to the capital stock shall be |
1ue and payable as herein provided for when |
his 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
all shall be made OF more than ten per cent 40 |
Der cent? on each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC g. No stakeholder shau be held liable or re-
ponsible for the contracts and faults of the COM
ANY in any further sum than the unpaid balance
II balances due the company on shares owned by
lin, nor shall any informalities in the organiza-
ion have the effect of annuling this Charter, or
# exposing stakeholder to any liability beyond
he amount of his stock subscription unpaid
SEC 4. The domicile of the company shall be
he city of New Orleans, and citation shall be
erved there on the President of the company, or
q his absence, ON the Vice-President.
SEC 5. The ock books shall be kept at the
flee OF the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
er Of stock shall be binding upon he Company
ntll Ilaue upon ltS sIOCh UOohss duu uO sJOCh |
ertifcate shall be issued except for full paid
took.
Sec 6. In the case of failure on the part of any
ubscriber to pay the in.tallments on his stock as
equired, the Board of Directors shall have the
ption, after thir y days written notice to the
of forfeiting his stock, or the amounts
paid thereon and no stakeholder
hall have the right to vote while in default.
Sec. T. All rules relative to the declaration of
ividends or divisions of profits, as we'll 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 modifca-
on by the holders # majority of the stock of
he Company at their meeting.
ARTICLE III.