The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-13

STATE, OF LOUISIANA,
PARISH OF ORLEANS CRY OF NEW ORLEANS,


STATE OF LOUISIANA
| PARISH OF ORI.KANSy CRY OF NEW ORLEANS,
BE IT KNOWN. That on this twenty-nint
day OF the month Of June, in the year OF on
Lord one thousand eight hundred and seventy
five, and Of the United States of America til
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:
LEY, 3. B. wHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
BUSsEY. GE0hGE, JONAS, "; B; SCHMIDT
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
thi. State, they do, by these presents, form
organize, constitute and found Corporation fol
the objects and purposes as shall hereafter be
enumerated and set forth; and to that end they
stitute, and do, by these presents, form and con-
stitute themselves, and all such other persons az
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 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. :,
VII 41f ARTICLE /.
rt 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 Ell -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
may exerciseits corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC. I. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
t$3, 000, 0O0), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
(S10O) 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
the Company until the second Wednesday in
1877: Officers, E. B. WHEELOcK,
President; HUGH KENNEDY, Vice President;
). 81. KENNEDY, Treasurer. When one hun
bred and fifty Thousand dollars $3.50 0G0 of the
capital stock shall have been subscribed, the
Board Of Directorsare authorized to commence
he construction OF the road and to carry out the
provisions of thiu charter; to enable them to do
his, subscriptions to the capital stock shall be |
lue and payable as herein provided for when |
his ann omit has haan uhscrihed
Sec. 2. The time and manner of payment for |
took shall be such as may be determined by the |
3oard OF Directors, provided, however, that no |
all shall be made OF more than ten per cent 40 |
yer cent? on each share at any time, and thirty |
lays must elapse before another call can be |
made.
SEC 8. No stakeholder shsll be held liable or re-
ponsible for the contracts aud faults OF the com
ANY in any further sum than the unpaid balance !
r balances due the company on shares owned by |
i'm, nor shall any informalities in the organize
ion have the effect of annulling this Charter, or
( exposing stakeholder to any liability beyond |
he amount of his stock subscription unpaid
SEC. 4. The domicile of the company shall be
erved there on the President Of the company, or
D his absence, on the Vice. President.
SEC. 5. The ock books shall be kept at the
flee Of the Company, whence certificates Of stock
hall be issued to the subscribers, but no trans
Or OF stock shall be binding upon he Company
ntil made upon its stock books. and no stock
srtifcate shall be issued except for fall paid
,ock.
Sec 6. In the case Of failure on the part of any
lbscriber to pay the installments on his stock as
,quired, the Board of Directors shall have the
otion, after thir days. written notice to the
,linquent, Of FORGETTING his stock, or the amounts
.eviously paid thereon; and no stakeholder :
lall have the right to vote while in default.
SEC. Z. All rules relative to the declaration of !
vidends or divisions of profits, as well as the
p Ia Wi Of the (y0nDanv shall ba made nv the !
oard of Directors, but Said rules and bylaws
all be subject to repeal, change or modifica- 6
IN by the holders Of majority Of the stock of
q Company at their meeting.