The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-14
CHARTER.
STATE OF LOUISIANA

STATE OF LOUISIANA,
PARISH or 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. EUsIIs, Notary Pub
lie, in and for this city. and parish of Orleans,
State ~ Louisisns duly commi ssioned and quail
fed, and in the presence Of the witnesses here
matter named and undersigned:
| Personally came and appeared q. w. II. BAY
LEY, E. b. WHEELOCK, HUGH KENNEDY,
John PHELPS, JOIN M b. K y y CYRUS
lIAMFS A GIRDNER IrfIIIS WEIs L /.
RANLETr and DAVID WALLACE, ali resi-
dents of this city, who seyerally declared
That, availing themselves OF the powers,
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 Corporation for
| the objects and purposes 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 subscripu IN, 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-
ations, obligations and regulations as articles of
the charter OF said Corporation.
ARTICLE 1.
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 ext tence 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,
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 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 fixed at THREE MILLION DOLLARS
SAND lHSDV 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 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 F. B. WI WHbEEL0ok
s. H. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars $3.50 OC0) of the
capital stock shall have been subscribed, the ,
Board OF Directors are authorized 10 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 4
due and payable as herein provided for when {
this amount has been subscribed.
SEC. 2. The time and manner of payment for I
aba he ms no NV no Ia
Board of Directors, provided, however, that no G
;al shall be made OF more than ten per cent 40 8
Der cent? on each share at any time, and thirty
lays must elapse before another call can be a
made. +
Sec g. No stakeholder sha u be held liable or re-
ponsible for the contracts and faults of the COM il
,any in any further sum than the unpaid balance b
" balances due the company on shares owned by &
lin, nor shall any informalities in the organiza-
ion have the effect of annulng this Charter, or
# exposing a stakeholder to any liability beyond
he amount OF his stock subscription unpaid.
Sec. 4. The domicile of the company shall be a
he city of New Orleans, and citation shall be ~
erved there on the President OF the company or y
q his absence on the Vice-President. q
Sec. 5. The 8 ock books shall be kept at the y
flee of the Company, whence certificates of stock
hall be issued to the subscribers, but no trans a.
or OF stock shall be binding upon he Company {"
ntil made upon its stock books, and no stock f.
ertificate shall be issued except for full paid =,
took. VI
Sec. g. In the case of failure on the part of any
ubscriber to pay the n-tallments on Ais stock as
equired, the Board of Directors shall have the
ption, after thir y days written notice to the
einquent, of forfeting his stock, or the amounts m
revously paid thereon; and no stakeholder sc
nall have the right to vote while in default. pr
SEC. 7. All rules relative to the declaration of ST
vidends or divisions of profits, as well as the th
FLAWS of the Company, shall be made by the m
GARD of Directors, but said rules and bylaws th
lall be subject to repeal, change or modiica- sh
On by the holders # majority of the stock of co
e Company at their meeting. a.
ARTICLE III.
GENERAL POWERS. p
The said companyis empowered and author ",
ed: TO-
First-To locate, construct lease, own and use NO