The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-21
CHARTER.

-
CHARTER.
o STATE OF LOUISIANA,
. PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE 1T KNOWN, That on this twenty-nint
Z day OF the month of June, in the year of on
9 Lord one Thousand eight hundred and seventy
y five, and Of the United States Of America th
q ninety-ninth.
!. Before me, JOHN G. EUSTIS. a Notary Pub
. Lie, in and for this citv. and parish of Orleans
State Of Louisiana, duly commissioned and quail
fed, and in the presence of the witnesses here
matter named and undersigned:
VIE snd Haa K = BhY
JOHN PHELPS, JOHN q. KENNARD, CYRUS
BUSSEY, GEORGE JONAS W. B. 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 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,
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.
| 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 exercseits 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,O00,000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1oo) 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, E. B. WHEELOOK,
President; HUGH KENNEDY, Vice President;
s. Fl. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $3.50 OOO) 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 THO charter; to enable them to do
this, subscriptions to the capital stock shall be
ond hnr IaI fN,
this amount has been subscribed.
SEC. z The time and manner of payment for
stock shall be such as may be determined by the {
Board OF Directors, provided, however, that no
per cent? on each share at any time, and thirty
lays must elapse before another call can be q
made. +
SEC. g. No stakeholder shau be held liable or re-
ponsible for the contracts aud faults of the COM il
,any In any further sum than the unpaid balance /
n balances due the company on shares owned by {
lin, shall any infOrmalities in the organiZa-
ion have the effect of annulng this Charter, or
Il exposing 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 r.
erved there on the President OF the company or Ct
q his absence, on the Vice. President. g
SEC. s. The ock books shall be kept at the U
flee of the Company, whence certificates of stock o.
hall be issued to the subscribers, but no trans al
,r of stock shall be binding upon The Company a
ntil made upon it's stock books, and no stock |
erificate shall be issued except for full paid 70
;ock. tt
Sec. 6. In the of failure on the part of any
lbscriber to pay the installments on his stock as
'quired, the Board of Directors shall have the
,tion, after thir days. written notice to the
,linquent, of forfeitng his stock, or the amounts
'eviousy paid thereon; and no stockholder m
lall have the right to vote while in default. sc
SEC. T. All rules relative to the declaration of pa
vIdends or divisions OF profits. as well the 81
oard of Directors, but said rules and bylaws m
all be subject to repeal, change or modifica- u
IN by the holders IF majority of the stock of 81
e Company at their meeting. co
ARTICLE III. th
GENERAL POWERS.
The said company is empowered and author Fl,
I'd: VII
First-To locate construct, lease, own and use tor
abroad with one or more tracks and suitable no
rnouts, of such guage and construction and wr
on such course route as may be deemed
a majority of the Directors of said company
'st expedent, beginning at point on the Mis-
sippi River at New Orleans, or between New
leans and the parish OF Iberville. on the right
ak Of the Mississippi, and Baton Rouge on the
! bank or from New Orleans or Berwck's
Y, via Vermillionville, in the parish Of Lafay-
8, and Opelousas, in the parish of st. Landry,
from any OF said points, or from any point
hin the limits of this State, and running thence
Of Marshall or Dallas, in the State OF Texas, in
b direction and route or routes as said company
II fix, and with such connecting branches in
State Of Louisiana as may be deemed
per. T
econd-To locate, construct, lease own main
and use such branch railroads and tracks as oaS
ajorty of the Directors of said company may New
n time to time deem proper and expedient and
Ior tne interest OF salu company 10 own and Orle
se anu tease, anu tney sha not pe restricted duly
ie exercise VI Ihis privilege 10 the state OF bool
isiana, but may connect tneir main line with 632
other line or lines in other States which N,
i authorize the exercise of said privilege n
lin their limits, and the said company shall "
right to establish and maintain in the T,
of New Orleans proper freight and passen- and
depots, and to connect them by tracks and fife,
with the left bank of the Mississippi River cnrr
lch point or points as may be deemed most In
enient for the public interest, and to use in nv
ferries steamboats, and other vessels, and al A.
the purposes Of such depots, tracks and fer
may acquire property by appropriation ivf
lird To construct, establish, or purchase in ~
State, and thereafter, to own, lease, MAN. Tn,
and use suita BILE wharves, piers warehoust q AA