The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-17
CHARTER.
STATE OF LOUISIANA

Ot1AN
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE 1T 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. 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: ": r. BAY
LEY, E. B: WHEELOCK, HUGH KENNEDY,
BUSSEY, GEORGE JONAS W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WEIS, E. 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
tutes of the State of Louisiana, relative
to the Reorganization of Corporations" in
Thu 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-
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 NAV 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 L.
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 xistence for and during the
full term and period of twenty-five (25l 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 property
aud shall possess all the powers and privileges
which corporations are or may be by any general
law Of this State authorized to posse SO, and said
company may exerciseits corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC l. The capital stock Of this corpora ton is
hereby fxedsat THREE MILLION DOLLARS
{ 49, O00 0O0), represented by THIRTY THOU-
SAND SHARES of ONE HUNDRED DOLLARS
(s100) 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 Directors 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. III. KENNEDY, Treasurer. When one hun |
dred and fifty thousand dollars ,O00) 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 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 shall be made OF more than ten per cent 40 |
per cent? on each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC g. No stakeholder sha u be held liable or re-
,ponsible for the contracts aud faults OF the COM
oany in any further sum than the unpaid balance
1r balances due the company on shares owned by
lim, nor shall any informalities in the organiZa-
ion have the effect of annulling this Charter, or
)f exposing stakeholder to any ability 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
served there on the President of the company, or
n his absence on the Vice-President. |
SEC. 5. The sock books shall be kept at the
office of the Company, whence certificates of stock
shall be issued to the subscribers, but no trans
er of stock shall be binding upon he Company
lntl nlhue upon lUS sIoCh DOOhs, duu no stOCk |
certificate shall be issued except for full paid
tock.
Sec g. In the case of failure on the part of any
to pay the installments on his stock as
equired, the Board of Directors shall have the
ption, after thir y days written notice to the
of FORGETTING his stock, Or the amounts
previously paid thereon; and no stakeholder
hall have the right to vote while in default.
SEC. Z. All rules relative to the declaration of
ividends or divisions Of profits, as well as the
v Ua aff tho GOnonaDv shall ba mazda nv the |
board of Directors, but said rules and bylaws
hall be subject to repeal change or modiica-
ion by the holders # a majority of the stock of
he Company at their meeting.
ARTICLE III.