The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-30
CHARTER.
STATE OF LOUISIANA,

STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE IT KNOWN, That on this twenty-ninth
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.. W. K. BAY
LEY, E. B. WHEELOCk, HUGH KENNEDY,
JOHN PHELPS, JOHN q. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT,
RANLETT and DAVID WALLACE, all resi-
dents Of this city, who severally declared
That availing themselves of the powers
rights and privileges conferred by the sta
tutes of the State Of Louisiana, relative
to the Organization Of Corporations" in
thi State, they do, by these presents, form,
organize, constitute and found g 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-
stitute themselves, and all such other persons as
| 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 stlpu-
lations obligations and regulations as articles OF
the charter Of said Corporation.
ARTICLE [.
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-teuce for and during the
full term and period of twenty-five (Z5l year.
from the date Of the execution OF these presents,
unless sooner dissolved in the manner hereinafter
l,n 1aI l,,Il
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 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. |. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(s3, 0O0,0 00), represented by Thirty THOU
SAND SHARES Of ONE HUNDRED DOLLARS
($100) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the lncorporator5 herein named, who
shall constitute the Board of Direct, 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, Z, 3. WHEELO K,
President; HUGH KENNEDY, Vice President,
S. FL. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (Sl50,0C0) Of the
apital 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
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 fer
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
panv in any further sum than the unpaid balance
or balances due the company on shares owned by
him. nor shall any informaliJies in the organiza
ton have the effect Of annulling this Charter
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec 4. The donicile 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 Nice-Presldent.
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 he 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 iustallnents on his stock as
the Board Of Directors shall have the |
option, after thirty days written notice to the |
delinquent of FORGETTING his stock, or the amounts
previously paid thereon; and no stakeholder |
shall 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 moditca-
ton by the holders # majority Of the stock of |
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company Id empowered and author
lied:
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 a 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 Berwicks
Bav via Vermillionylle in the parish OF Lafav- |
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 andrunning 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 or routes as said company
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
majority of the Directors of said company may
rom time to time deem proper and expedient
md for the interest of said company to own and
20 use and lease, and they shall not, be restricted
n the exercise of this privilege to the State of
louisiana, but may connect teeir main line with
my other lne or lines in other States which
hail authorize the exercise of said privilege
within their limits, and the said company shall
nave right to establish and maintain in the
ty of New Orleans proper freight and passen-
,er depots, and to connect them by tracks and .
erres with the left bank of the Mississippi River
It such point or points as may be deemed most {
convenient for the public interest, and to use in
UGH ferries steamboats, and other vessels, and | !