The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-15


until made upon it's stock books, and no stool
certificate shall be issued except for full pail
stock.
SEC. 6. In the case of failure on the part OF an,
subscriber to pay the in-tallments on his stock a.
required, the Board of Directors shall have thu
option, after thir days written notice to thu
delinquent, of FORGETTING his stock, or the amounts
previously paid thereon; and no stockholde
shall have the right to vote while in default.
SEC. Z. All rules relative to the declaration o
dividends or divisions of profits, as we'll 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 moditica
ton by the holders Of a majority of the stock o.
the Company at their meeting.
ARTICLE III.
| GENERAL POWERS.
The said company is empowered and author
ICED:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
by majority of the Directors Of said company
most expedient, beginning at point on the Mis-
sissppi 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 Berwick g
Bay via Vermillionville, in the parish OF Lafay-
cite, and Opelousas, in the parish of st. Landry,
or from any of said points, or from any. point
towards and to the city of Shreveport. or the
city of Marshall 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
from time to time deem proper and expedient
and for the interest of said company to own and
to use and lease, and they shall not be restricted
in the exercise of this privilege to the State of
Louisiana, but may connect tner main line with
any other line or lines in other States which
shall authorize the exercise OF said privilege
within their limits, and the said company shall
have a right to establish and maintain in the
city of New Orleans proper freight and passen-
ger depots, and to connect them by tracks and
ferries with the left bank OF the Mississippi River
at such point or points as may be deemed most
convenient for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes of such depots tracks ana fer
ries, may acquire property by appropriation.
Third To construct, establish, or purchase in
this State, and thereafter, to own, lease, MAIN
tain and use suitable wharves PIERS warehous s.
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances con- ected with
and incidental to said railway and its cOnnec-
tons, and to run and manage the same as the
Directors of the said Company may deem to be
most expedient and to the welfare Of said corpo-
ration.
Fourth-To take, transport, carry and convey
persons and property upon its said railway and
its boats, by power OF steam or any other power,
and to receive for safekeeping and to store mer-
chandse and property in its yards or warehouses;
and to receive for such transportation, safekeep-
ing or storage such tolls and charges as may
from time to time be established or authorized to
be established by Directors of said railroad com
pany.
To make advances of money or credits upon
or property, for changes made by
other tral sportation lines to be transported upon
its railways, steamboats, or vessels, or to be
stored in its yards warehouses to such extent,
and upon such terms and conditions as the Direc-
tors of said Company may from time to time es-
tablish or authorize to be established.
Fifth-To obtain and receive by purchase, |
grant from United States or otherwise, grant, gift,
devise and bequest, both real and personal prop
erty, to have and to hold such real and personal
real estate, in this State, for the objects, pur
poses, interests and business of such Company.
Sixth-To construct and maintain its said rail- |
roads or any part of the same, and to have the |
right of way therefor, across or along, or
upon any waters, water courses, river, |
lake, bay, inlet. street, highway, turnpike, |
Or canal within the State of Louisiana, which |
the course of said railways may intersect, touch |
Or cross, provided the said company shall pre-
serve any water course. street, highway, turn
pike or canal which its said railways may 30 pass
lpon, along or intersect, touch or cross, 80 as
lot to impair its usefulness to the public unnec
,ssarlly: or II temporarily impaired IN ana during
he construction of the said railroads, the said
company shall restore the same to its former
state, or to such state that its usefulness and
onvienence to the public shall not be unneces
arily impaired or I'M ured, and the said company
hall not be required to construct draw In any
ridge over and across any stream or bayou,
Except streams navigable by enrolled and Ii
ensed vessels, and when required by law.
Seventh-To obtain, by grant or otherwise,
rom any parish, city or village within this State,
10 riyilp or fr hot Of
aid parishes, cities or villages, may choose to ,
rant in reference to the construction, mainte-
ance, management and use of the railroads of I
aid company, i depots, cars, locomotives and I
8 business, within the limits of such or any of ,
aid parishes, cities and villages. /
Eiahth-To appropriate property according to ,
xisting laws. I
Ninth-To cross intercept, join and unite its {
always, and prorate with any other railroad s
eretofore or hereafter constructed in the State
Louisiana, or any other State, at any point 8
pom it's route and upon the ground of such
her railroad, with the necessary turn-outs
dings, switches and other conveyances, in 2
rtherance Of the objects Of its connections D
Tenth-To purchase or lease from any railroad u
'mpany or corporation, at any authorized sale, 8
~ railroad, and the charter, franchises prop u
ty and appurtenances thereof, and maintain Il
I'd use the same as part of the property of c
Is company. b
borrow money or to purchase or a
ase property on its credit, fer the purpose Ii
constructing and maintaining said raiiroaos or O
continuous aud connecting zines as G
renbefore provided; and as evidence of the in ii
btedness of said company for such loans, or d
e purchase or lease OF such property, to issue OF
corporate bonds or promissory notes, bea ing
erest at such rate per annum as the directory Of
ny elect, and made payable in gold or the law D
money of the United States at such times and nj
lces as may be deemed most to the advantage IL
the corpora ions. and for securing the pay 81
mt of said bonds or notes. to mortgage and al
dge its railroads, it's capital stock, its corpor D,
franchises and any OF its real or personal of
operty, or any portion of the same.
ARTICLE ". el
BOARD OF DIRECTORS. -
lee. l. The corporate powers Of this Compa. .,
shall be vested In Board of Directors COM 40
ed Of fifteen stockholders to be elected in VI
ordance with the bylaws Of the Company, ~
such officers and agents as may from time to r.
e be appointed by such board. No person liz
ii be director who is not the actual owner of ~
least ten l0) shares of the capital stock of &c 80
Company. Directors shall be elected an Cd,
lily, and continue in Office until others are l.,
tied to fill their place, and shall have power to 90
vacancies in their number caused by death, -,
gnaton or otherwise. The di ectors shall 81 81
ofxl.a; d. -