The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-17

ftltute, ana DO, Dy THESE presents, form ana con
stitute themselves, and all such other persons a
may here after become associated with them
whether by subscription, purchase, transfer
succession or otherwise, into "Body Cor
porae," and hereunder bind themselves, ant
all who may hereafter become associated witt
them, to be governed by the following stipu
lations, obligations and regulations as articles O
the charter OF said Corporation.
ARTICLE I.
| NAME.
The name and title of said corporation shall b.
| 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) year
from the date of the execution OF these presents
unless eooner dissolved in the manner hereinafter
provided for; may sue and be sued, may hole
real and personal property, may make contracts
may receive grants of land or personal property
and shall possess all the powers and privileges
which corporations are or may be by any genera
law of this State authorized to posse g. and said
company may exercseits 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 000000), 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
under the incorporators herein named, who
shall constitute the Board of Direct RS 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. WHEELOcK,
President; HUGH KENNEDY, Vice President;
s. FL. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars (S150, 000) of the
capital 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 thiu charter; to enable them to do
This, subscriptions to the capital stock shall be
due and payable IS 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 shall be made of more than ten per cent 40
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shall be held liable or re-
sponsible for the contracts and 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 informalties in the organiza-
ton have the effect of annulling this Charter Or
Of exposing a 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 President.
SEC. S. The g 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 it's 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
to pay the installments on his stock as
required, the Board of Directors shall have the
option, after thir 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. 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
hall be subject to repeal, change or modifica-
ion by the holders Ct a majority of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
zed:
First-To locate, construct lease, own and use
railroad with one or more tracks and suitable
lrnouts, of such guage and construction and
pom such a course or route as may be deemed
a majority of the Directors OF said company
lost expedient, beginning, at point on the Mis-
ssippi River at New Orleans, or between New
rleans and the parish OF Ibervile, on the right
ank of the Mississippi, and Baton Rouge on the
1T bank or from New Orleans or Berwick's
ay, via Vermilionvile, in the parish of Lafay-
tie, and Opelousas, in the parish of st. Landry
from any OF said points, or from any point
thin the limits of this State and running thence
wards and to the city Of Shreveport, or the
ty Of Marshall or Dallas in the State of Texas in
lch direction and route or routes as said company
nall fix, and with such connecting branches in
le State Of Louisiana as may be deemed
roper.
Second-To locate, construct, lease own, MAIN
i'm and use such branch railroads and tracks as
majority of the Directors Of said company may 8
ON time to time deem proper and expedient {
I'd for the interest of said company to own and {
use and lease, and they shall not be restricted |
the exercise OF this privilege to the State of 6
auisiana, but may connect their main line with
~ other line or lines in other States which
thin their limits, and the said company shall
i've a right to establish and maintain in the a
ty OF New Orleans proper freight and passen- L
n depots and to connect them by tracks and c
rries with the left bank of the Mississippi River
such point or points as may be deemed most | n
nvenient for the public interest," and to use in 8
oh ferries STEAMBOATS, and other vessels and
r the purposes of such depots, tracks ana fer
g, may acquire property by appropriation.
Third TO construct, establish, or purchase in
ls State, and thereafter, to own, lease, MAIN P
IN and use suitable wharves, PIERS warehous 8.
rds, steamboats,, harbors, depots, stations, and
her works and appurtenances con, ected with o
d incidental to said railway and its connec- Q
ms, and to run and manage the same as the a
rectors of the said Company may deem to be a
,st expedient and to the welfare Of said corpo- =,
ion. ~
Sourth-To take, transport, carry and convey .
rsons and property upon Its said railway and =
boats, by power of steam or any other power, IL
1 to receive for safekeepng and to store mer-
indise and property in its yards warehouses; "
to receive for such transportation, safekeep- y
or storage such tolls and charges as may -
m time to time be established or authorized to y
by Directors of said railroad COM 81 81
~. -;
o make advances of money or credits upon VI
or property, for changes made by ia
er trat sportation lines to be transported upon !"
railways, steamboats, or vessels, or to be Pt
red in its yards warehouses to such extent, n,s
upon such terms and conditions as the Direc- VI
s of said Company may from time to time es- t ll
lish or authorize to be established. I'd
ifth-To obtain and receive by purchase,
mt from United States or otherwise, grant, gift,
Use and bequest, both real and personal prop FL
7. to have and to hold such real and personal u
estate, in this State, for the Objects pur- sh
es. interests and business of such Company.
construct and maintain it's said rail- pc
Is or any part of the came, and to have the
It of Way therefor across or along or