The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-16
CHARTER.
STATE OF LOUISIANA.

| fARisH oF OkLEANs, CIII OF NEW OhLEANS,
BE 1T KNOWN, That on this twenty-nint
day OF the month of June, in the year OF GU
FIVE and Of the United States Of America tn
ninety-ninth.
! 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 mere
matter named and undersigned:
Personally came and appeared, g; "; Z; BAY
LEY, E. B. WHEELOCk, HUGH kENNEDY
JOHN PHELPS, JOHN a. KENNAR 3D., CYRU J
JAMES A. GIRDNER, JULIUS wells, E. L
RANLETT and DAVID WALLACE, all resi-
dents of this city, who seyerally declared
That, ayailinng. themselves OF the powers
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 Corporation fol
| 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 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-
latons, obligations and regulations as articles Of
| the clarter Oh 6a9Q COrpOTdtIOus
ARTICLE I.
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 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,
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 exercise its corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC. 1. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(s3, 900 ,OOO), represented by THIRTY TaOU-
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
named gentlemen, who shall be the officers of
the Company until the second Wednesday in
January, 1877: Officers, -. B. WHEELOCK,
s. Fl. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars $3.50, 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 thiu 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
d. Iogn dad hat
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. 8. No stakeholder shau be held liable or re-
sponsbe 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 informalities in the organiza-
ton have the effect of annuling this Charter, or
Of exposing stakeholder to any liability beyond
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-PresideRa.
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 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 6. In the case of failure on the part Of any
subscriber to pay the installments his stock as
required, the Board of Directors shall have the |
option, after thir days written notice to the |
of forfeiting his stock, the amounts
previously paid thereon; and no stakeholder |
hall 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 |
Board Of Directors, but said rules and bylaws |
hall be subject to repeal, change or modifca-
ion by the holders IF a majority of the stock Of
he Company at their meeting.