The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-18
CHARTER.

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not to impair its usefulness to the public unnec-
essarily: or if temporarily impaired IN and durlng
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-
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 navgable 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 TINS state:
any rights, privileges or franchises that any OF
| said parishes, cities or villages, may choose to
grant in reference to the construction, mainte.
| nance management and use the railroads OF
| said company, i depots, cars, locomotives anG
its business, within the limits OF such or any OF
said parishes, cities and villages.
Eighth-To appropriate property according 10
existing laws.
Ninth-To cross, intercept, join and unite its
railways and prorate with any other railroad
heretofore or hereafter constructed III the STATS
| of Louisiana, or any other State, at any point
upon Its route and upon the ground OF sucn
| other railroad, with the necessary turn-outs,
| sidings switches and other conveyances, IN
| furtherance Of the objects OF it's connections
| Tenth-To purchase or lease from any raIlfoad
company or corporation, at any authorized sale,
any railroad. and the charter, franchises, prop
| erty aud appl1rtenances thereof and maintain
and use the same as part OF tho property OF
this company.
| Eleyenth-To borrow money or to purchase or
lease property on its own credit, for the purpose
of constructing and maintaining said rallroads or
establishing continuous aud connecting lines as
hereinbefore provided; and as evidence of the in
debtedness OF said company for such 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 Ss the directory
may elect, and made payable III gold or the law
full money of the United States at such times and
places as 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. it's capital stock, its corpor-
| ate franchises and any OF Its real or personal
| property, or any portion OF the same.
ARTICLE ".
BOARD OF DIRECTORS.
| SEQ. 1. The corporate powers of this Corpa-
ny shall be vestedln 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 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 CompSny. Directors shall be elected an
| nually, and continue i'll office until others are
elected to fill their place, and shall have power to
| fill 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 Uy-lAWS anu anu
and from time to time alter, amend ana revoke
the same as they shall fit touching the govern
ment of said Company, the transfer Of it's stock.
the election of it's officers, the management and
disposition 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. 2. All election for directors shall be by
ballot, and every stakeholder shall be entitled
to one vote in person or by proxyfor each share
of stock held by him for ninety days prio, to
| such election.
| SEC. 8. Seven of the directors shall constitute
| a quorum for the transaction OF business, and
| the number OF directors msy 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.
ARTICLE V.
STOCKHOLDERS MEETINGS.
| SEQ. 1. 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
a majority of the stock there present and voting.
SEC. 2. 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.