The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-22
CHARTER.
STATE OF LOUISIANA,

L
| STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
| BE 1T KNOWN. That on this twenty-ninth
day Of the month of June, in the year OF our
| Lord one thousand eight hundred and seventy.
five, and of the United States of America the
ninety ninth.
State of Louisiana, duly commissioned and quail
fed, and in the presence OF the witnesses here
matter named and undersigned
Personally came and appeared, G. w. X: BAY
LEY, E B; WHEEL0CK, HUGH R Re GYI24
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
| thi State, they do, by these presents, form,
| organize, constitute and found a 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 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 eXirtence for and during the
full term and period OF twenty-five (25) years
from the date of the execution OF these presents,
III IiSSo in ba ms FER
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. l. The capital stock Of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
($3,000,000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
{s1O0) 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. WHEELO0k OK,
President; HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer When one hun
dred and fifty thousand dollars $3.50 00O) 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 this 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 |
Board of Directors, provided, however, that no
call shall be made of more than ten per cent 10
per cent? on each share at any time, and thirty |
days must elapse before another call can be
made
SEC g. No stakeholder sha u be held liable or re-
sponsible for the contracts aud 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,
Of exposing stakeholder to any liability beyond
the amount Of his stock subscription unpaid.
SEC. 4. The domicie of the company shall be |
the city of New Ofleans, and citation shall be
served there on the President of the company, or
in his absence, on the Vlce-President
SEC 5. The ock 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
to pay the in-talments on his stock as
required, the Board Of Directors shall have the
option, after thir days written notice to the
of forfeting his stock, 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
oy-laws of the Company, shall be made by the
Board Of Directors, but said rules and bylaws
,hal be subject to repeal, change or moditica-
ion by the holders # majority of the stock of
he Company at their meeting.