The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-20
THE SATURDAY, NOVEMBER 90 1875
CHARTER.

not to impair its usefulness to the public unnec-
essarly; or if temporarily impaired in and during
| the construction OF the said railroads, the SAID
company shall restore the same to its former
state, or to such state that its usefulness and
CONVENIENCE to the public shall not be unneces-
sarily impaired or injured, and the said company
shall not be required to construct draw IN any
bridge over and across any stream or bayou,
except streams navigable by enrolled and Ii
censed vessels, and when required by law.
Seventb-To obtain. by grant or otherwise,
from any parish, city or village within this State.
any rights, privileges or franchises that any OF
! said parishes, cities or villages, may choose to
| grant in reference to the construction, malnte-
nance management and use 1.-THE railroads of
| said company, i depots, cars, locomotives and
its business, within the limits of such or any Of
| said parishes, cities and villages.
Eiehth-To expropriate property according to
| existing laws.
Ninth-To cross intercept, join and unite its
railways, and prorate with any other railroad
heretofore or hereafter constructed in the State
of Louisiana, or any other State, al any point
upon its rohte and upon the ground OF such
other railroad, with the necessary turn-Outs,
sidings, switches and other conveyances, ID
furtherance of the objects Of its connections
Tenth-To purchase or lease from any railroad
company or corporation, at any authorized sale
any railroad, and the charter, franchises, prop
erty and appurtenances thereof and maintain
| and use the same as part OF the property OF
this company.
Eleven1h-To borrow money or to purchase or
lease property on its own credit, for the purpose
OF constructing and maintaining said rairoaGs or
establishing continuous and connecting lines as
hereinbefore provided; and as evidence of the in
debtedness OF said company for such loans, or
the purchase or lease OF such property, to issue
Its corporate bonds or promlssory notes, bea ing
interest at such rate per annum as the directory
may elect, and made payable in gold or the law
full money of the United States at such times and
places as may be deemed most to the advantage
of the corpora ions. and for securing the pay
ment of said bonds or notes, to mortgage and
pledge it's railroads, its capital stock its corpor
ate franchises and any of its real or personal
property, or any portion OF the same.
ARTICLE ".
BOARD OF DIRECTORS
Sec. l. The corporate powers of this Compa.
ny shall be vested IN a Board of Directors COM
posed of fifteen stockholders to be elected in
accordance with the bylaws of the Company,
and such officers and agents as may from time to
time be appointed by such board. No person
shall be director who is not the actual owner OF
at least ten (10) shares of the capital stock of
said Comp&uy Directors shall be elected an
nually, and continue i'll office until others are
elected to fill their place, and shall have power to
fill vacancies in their number caused by death,
resignation or otherwise. The diI ectors shall
elect one of their number as President OF said
Company, another Vice President and another
Treasurer, and shall have power to make and
prescribe such bylaws ana rules ana UiatloiS,
and from time to time alter, amend ana revoke
the same they shall see tit touching the govern
ment OF said Company, the transfer of its stock.
the election of its officers, the manag cement and
disposition Of its business, property and effects,
the powers and conduct orits officers and agents,
anu all other matters which shall in any way per-
tam to the concern of the Company.
Sec. 2. All election for directors shall be by
ballot, and every stakeholder shall be emit led
to one vote in person or by proxy for each shsre
of stock held by him for ninety days prior to
such election.
a quorum for the transaction OF business and
the number of directors may be increased or
diminished by majority vote of stockholders in
interest at any regular meeting, provided the num-
Der shall not be less than seven nor more than
fifteen.
ARTICLE Y.
STOCKHOLDERS MEETINGS.