The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-17
CHARTER.

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CHARTER.
STATE OF LOUISIANA, 4
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 oul
Lord one thousand eight hundred and seventy.
FIVE, and of the United States OF America the
ninety-ninth. go
Before me, JOHN G. EUsTIs, 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:
Personally came ana appeared, g: "; Z; BAY
LEY, E. B: WHEELOCK, HUGH KENNEDY III NED
BUSSEY, GEORGE JONAS, W. 3. SCHMIDT,
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
THU 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-
stitute, and do, by these presents, form and con-
stitute themselves, and all such other persons as
may hereafter become associated with them,
Wu6uHeF Nv SuUbCTiptlDu, puTClId5e, bIdusi0I,
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 I. ''
NAME.
The name and title Of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
op1 nv hat no me aball hava
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 property,
aud shall possess all tie 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 .y tlE..
ARTICLE H. .s.-..
4F.t CAPITAL STOCK.
SEQ 1. The capitsI stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
($3,000,0O0), 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, 3. B. WHEELOoK,
President: HUGH KENNEDY, Vice President;
8. H. KENNEDY, Treasurer. When one hun
bred 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 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 q
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 10
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
Sec. 3. No stakeholder shall be held liable ORE
sponsibe 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 infornalities 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 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. 5. The stock books shall be kept at the
Office of the Company, whence certificates OF stock
shall be issued to the subscribers, but 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. 81 ..-
SEC. g. In the case of failure on the part of any
to pay the instalments on his stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
of forfeitng his stock, Or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default,