The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-11
CHARTER.
STATE OF LOUISIANA,


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. 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 and appeared, G. w. r. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY,
| JOHN PHELPS, JOHN Ii. KENNARD, CYRUS
JAMES A. GIRDNER, JULIUS WEIs, E. L..
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 Reorganization 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-
sttute, and do, by these presents, form and con-
stitute themselves, and all such other persons as
may here after 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 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 exirtence 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 property,
aud shall possess all the powers and privileges
which corpora tons 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 l. The capital stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
s3OOOOOO), 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, =; B. WH6EELocK,
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 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
days must elapse before another call can be
made.
SEC. g. No stakeholder shau be held liable or re-
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 shallany infOrmalities in the organlZa-
ton have the effect of annullng 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-Presdent.
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. G. In the case of failure on the part of any
subscriber to pay the installments on his stock
required, the Board of Directors shall have the
option, after thir days written notice to the |
of FORGETTING his stock the amounts
previously paid thereon; and no stakeholder |
shall have the right to vote while in default.
SEC. Z. 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
ROard of DrectOrG but said ruleS and bylaws |
,hall be subject to repeal, change or modfca-
ion by the holders If a majority of the stock of
he Company at their meeting.