The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-26
CHARTER.
STATE OF LOUISIANA,
81 OF ORLEANS, CITY OF New ORLEANS,

| L O1J
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF New ORLEANS,
day OF the month of June, in the year of on
Lord one thousand eight hundred and sevent!
five, and of the United States OF America til
ninety-ninth.
Lie, in and for this CITY, and parish OF Orlean
State of Louisiana, duly commissioned and quail
fed. and in the presence of the witnesses here
matter named and undersigned:
Personally came and d aRpeared g; v; 3; BAY
JOHN H5Hi PH 4; JOIN 4. KESNARD, CYRG
J 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
rights and privileges conferred by the sta
tutes Of the State of Louisiana, relativ,
to the Organization Of Corporations" ii
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-
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-
ations, obligations and regulations as articles OF
the charter OF said Corporation.
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 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
company may exercise it's 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 corporation is
hereby fixed at THREE MILLION DOLLARS
(S3, OOO, OOO), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
($1OO) 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
1877: Officers, E. B. WHEELOcK,
President; HUGH KENNEDY, Vice President; |
s. II. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars ($150, 000 Of the
capital stock shall have been subscribed, the |
the construction Of the road and to carry out the
provisions of this charter; to enable them to do
This, subscriptions to the capital stock shall be
1ue and payable as herein provided for when
his amount has been subscribed.
Sec. 2. The time and manner OF payment for
stock shall be such as may be determined by the |
Board of Directors, provided, however, that no
all shall be made of more than ten per cent 10 |
Der cent? on each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC g. No stakeholder shau be held liable or re-
ponsible for the contracts and faults of the COM
AMY in any further sum than the unpaid balance
II balances due the company on shares owned by
lin, nor shall any informalities in the organiza-
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 domicie of the company shall be
he city of New Orleans, and citation shall be
erved there on the President of the COMPANY or
q his absence, on the ce-Presdent.
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
ertificate shall be issued except for full paid
took.
SEC. g. In the case of failure on the part of any
lbscriber to pay the inatallments on his stock as
squired, the Board of Directors shall have the
ption after thir days written notice to the
elinquent, of FORGETTING his stock, or the amounts
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 we'll as the
Flaws of the Company, shall be made by the !
GARD Of Directors, but said rules and bylaws
,all be subject to repeal, change or modifica-
On by the holders # majority of the stock of
e Company at their meeting.
ARTICLE III.