The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-24
CHARTER.
STATE OF LOUISIANA,


= day OF the month of june in the year of OF
Lord one thousand eight hundred and sevent
five, and OF the United States OF America tt
ninety ninth.
"a lie, in and for this CITY, and parish OF Orean
n State Of Louisiana, duly commissioned and quail
= fed, and in the presence of the witnesses here
= matter named and undersigned:
Personally came and agpeaTed, G. " nR 3; BA3
JOHN PHELPS, JOHN b. KENNARD, CYRU
n BUSSEY. GEORGE JONAS, W. B. SCHMIDT
' JAMES A. GIRDNER, JULIUS WEIS, E. L
, RANLETT and DAVID WALLACE, all resi-
\ dents Of this city, who seyerally declared Ga
rights and privileges conferred by the sta
: tutes Of the State OF Louisiana, relativ
j to the Reorganization Of Corporations" il
r THU State, they do, by these presents, form
organize, constitute and found a Corporation TO
. the objects and purposes as shall hereafter b'
: enumerated and set FORTH and to that end the.
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 al
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 charter OF said Corporation.
ARTICLE l.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that Dame shall have succession,
and have corporate exi-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,
Il and hall oil md nriu
which corporations are or may be by any general
law of this State authorized to possess, and said
company may exerciseits 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
t$3,00O,0O0), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s100) 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. WHEELOCK,
President; HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (s15OOOO) 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 THU 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. q The time and manner of payment for |
stock shall be such as may be determined by the
Board OF Directors, provided, however, that no
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 g. No stakeholder shall be held liable or re-
sponsible 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 annulling this Charter or
Of exposing stakeholder to any liability beyond
the amount of his stock subscription unpaid.
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-President.
SEC. 5. The sock books shall be kept at the
office of the Company, whence certificates of stock
shall be issued to the subscribers, but no trans
Ter of stock shall be binding upon The Company
until made upon it's 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
to pay the installments on his stock as
,equired, the Board Of Directors shall have the
option, after thir y days written notice to the
of FORGETTING his stock, or the amounts
previously paid thereon; and no stakeholder )
hall have the right to vote while in default.
SEC 7. All rules relative to the declaration of
dividends or divisions of profits, as well as the
,y-laws OF the Company, shall be made by the /.
hall be subject to repeal, change or modifica-
ion by the holders # majority of the stock Of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS. &c
The said company is empowered and author
,ed:
First-To locate, construct, lease, own and use t
railroad with one or more tracks and suitable 4
lrnouts of such guage and construction and "
pom such course or route as may be deemed
majority of the Directors of said company
lost expedent, beginning at point on the Mis-
ssippi River at New Orleans, or between New
reans and the parish OF Iberville, on the right
anl of the Mississippi, and Baton Rouge on the
# bank or from New Orleans or Berwick's
ay, via Vermillionvile, in the parish OF Lafay-
tie, and Opelousas, in the parish Of st. Landry,
from any of said points, or from any point
thin the limits OF this State, and running thence
wards and to the city Of Shreveport, or the
ty of Marshall or Dallas in the State of Texas in
lch direction and route or routes as said company
lall fix, and with such connecting branches in
10 State of Louisiana as may be deemed
oper.
Second-To locate, construct, lease, own, main
in and use such branch railroads and tracks as e
majority Of the Directors of said company may N
ON time to time deem proper and expedient az
ID for the interest of said company to own and o.
use and lease, and they shall not be restricted dr
the exercise Of this privilege to the State of DC
but may connect their main line with %
" other line or lines in other States which
all authorize the exercise of said privilege
thin their limits, and the said company shall
we right to establish and maintain in the
y of New Orleans proper freight and passen. an
r depots, and to connect them by tracks and TIL
rres with the left bank of the Mississippi River Gu
such point or points as may be deemed most
nvenient for the public interest, and to in M
CHI ferries steamboats, and other vessels, and 30
the purposes of such depots tracks ana fer
g, may acquire property by appropriation.
Third TO construct establish or purchase in =
Is State, and thereafter, to own, lease, main
n and use suitable wharves piers, warehouse 8. Pa
rds, steamboats,, harbors, depots, stations and
ler works and appurtenances connected with -
d incidental to said railway and its connec- OF
MS, and to run and manage the same as the on
rectors of the said Company may deem to be az az
,st expedent and to the welfare of said corpo- Al
ion. -
Fourth-To take, transport, carry and convey nc nc
rsons and property upon its said railway and gu