The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-21
CHARTER.
STATE OF LOUISIANA,

BE IT KNOWN, That on this twenty-ninth
dsy 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
Before me, JOHN G. EUsIIs, Notary Pub
lic 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:
Prsfna1B5y % VIE E1 HUGH KENNEDY
JOHN PHELPS, JOHN B. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WElS, Z. l..
RANLETT and DAVID WALLACE, all resi-
dents Of this city, who severaly declared
That. availing themselves OF the powers,
rights and privileges conferred by the, sta
| tuies of the State OF Louisiana, relative
| to the Organization OF Corporations, In
| thi state. they do, by these presents, form,
organize. constitute and found a 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-
sttue and do by these form ana con-
NAV hereafter become associated with them,
whether by subscription, purchase; transfer,
succession or otherwise. into BODY COR,
porate." and hereunder bind themselves, and
ali who may hereafter become associated with
them. to be governed by the following stpu-.
ations 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 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 properly,
and shall possess all the powers and privileges
which corporations are or may be by any genera
law of this State authorized to possess, ana SAID
company may exerciseits corporate powers within
sny 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
IA OO0. OOOl. 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
nuder the incorporators herein named, who
shall constitute the Board of lectors and shall
hold their Office, together with the following
named gentlemen, who shall be the officers OF
the Company until the second "Wednesday IN
President; HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $780, C0) OF the
| capital stock shall have been subscribed, the
Board of Directors are authorized 10 CONNIE nee
the construction of the road and to carry out the
PROVISIONS of this 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
call sha 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.
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 organlza-
ton have the effect of annulng this Charter, or
of exposing stakeholder to any liability beyond
| the amount of his stock subscription unpaid.
| SEC. f. 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 Presldent; ~
SEC. 5. The ock 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. 6. In the case of failure on the part Of any
subscriber to pay the installments ON his STOCK as
required. the Board of Directors shall have the
option, after thir days written nouce to the
denouent. of forfeiting his stock, Or the amounts
previously paid thereon; and no stockholder
sball have the right to vote while in default.
SEC. 7. All rules relative to the declaration OF
dividends or divisions Of profits, as well as the
bylaws of the Company, shall be made by the
Board Of Directors, but said rules and bylaws
shall be subject to repeal, change or modltica-
ton by the holders IF majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company Is empowered ana author-
First-To locate, construct, lease, own and use
a railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
bv 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 vermilionville, in the parish Of Latay-
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 or Dallas, in the State OF Texas, in
such direction and route routes as said company
| shall fix. and with such connecting branches IN
the State of Louisiana as may be deemed
Second-To locate, construct, lease, own, main
tain and use such branch railroads and tracks as
majority Of the Directors of said company may
from time to time deem proper and expedlentt
| 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 toelr main line with
any other line or lines in other States which
shall authorize the exercise Of said privilege e
have a right to establish and maintain in the
city of New Orleans proper freight and Passen5,
ferries with the left bank of the Mississippi River
at such point or points as may be deemed most s.;
| such ferries steamboats, and other vessels, and
for the purposes of such deposs tracks ana fer
Third-To construct tablish, or purchase in
this State, and thereafter, to own, lease, main
tain and use suitable wharves, piers, warehouses
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances connected with
and incidental to said railway and its connec-
lions. and to run and manage the same as the
Directors of the said Company may deem to be
most expedient and to the welfare of said corpo-
ration.