The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-21
CHARTER.
STATE OF LOUISIANA


STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE 1T KNOWN, That on this twentv-nintl
day OF the month of June, in the year of gu
Lord one thousand eight hundred and seventy
five, and Of the United States of America tn
ninety ninth.
Before me, JOHN G. EUs1Is, Notary Pub
nc, In and for this CITY, and parish of Orleans
State OF Louisiana, duly commissioned and quail
ned, and in the presence of the witnesses here
matter named and undersigned:
: Re ryersonaliy came and appeared, G: ": r. BAY
LEY, +. 3; WHEELOCK, HUGH KENNEDY
/ BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, Z. L.
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severaly declared
r h an aSEa prgaes ene e bv bRs
tutes Of the State of Louisiana, relative
to the Organization of Corporations" in
| thi; State, they do, by these presents, form,
| organize, constitute and found Corporation for
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 a "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 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 existence for and during the
full term and period of twenty-five (25) years
from the date OF the execution OF these presents,
or lisa 4ba H.,
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
winch 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 Stat Of the United States that shall |
authorize the same.
ARTICLE II.
CAPITAL STOCK.
Sec. 1. The capital stock Of this corporal ton ia
hereby fixed at THREE MILLION DOLLARS
$4,000, OO0), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
capital stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
loder the lncorporators herein named, who
hall constitute the Board Of Directors and shall
lold their Office, together with the following |
famed gentlemen, who shall be the officers of {
he Company until the second Wednesday in {
anuary, 1877: Officers, E. B. WHEELOCK,
President; HUGH KENNEDY, Vice President; :
!. II. KENNEDY, Treasurer. When one hun .
red and fifty thousand dollars $3.50, OGO) of the
apltal stock shall have been subscribed the n
'oard of Directors are authorized to commence t
he construction OF the road and to carry out the
rovlslons OF this charter; to enable them to do +
lis, subscriptions to the capital stock shall be q
ue and payable as herein provided for when +
1is amount has been subscribed.
SEC. z. The time and manner of payment for h
ock shall be such as may be determined by the +,
GARD OF Directors, provided, however, that no n
VII shall be made of more than ten per cent 90 8,
'r cent? on each share at any time and thirty
ays must elapse before another call can be
ade. =,
Sec. g. No stakeholder shsn be held liable ORE n
onsible for the contracts aud faults of the COM in
my in any further sum than the unpaid balance | h.
balances due the company on shares owned by fl
m, nor shall any informalties in the organiza-
IN have the effect of annulling this Charter or
exposing stakeholder to any liability beyond
e amount OF his stock subscription unpaid. =.
SEC. 4. The domicile of the company shall be al
e city Of New Orleans, and citation shall be re re
rved there on the President of the company, or ca
his absence, on the Vice President 81
SEC. 5. The stock books shall be kept at the vi
ICE OF the Company, whence certificates of stock ~
all be issued to the subscribers but no trans al
OF stock shall be binding upon The Company a
til made upon its stock books, and no stock .
'tificate shall be issued except for full paid 10 10
ck. IN
Sec 6. In the case of failure on the part of any W
oscriber to pay the in-tallments on his stock as
uired, the Board of Directors shall have the
ion, after thir days written notice to the
inquent, OF FORGETTING his stock or the amounts me
viously paid thereon and no stakeholder sci
III have the right to vote while in default. pa
&c. 7. All rules relative to the declaration of SUI
idends or divisions of profits, as well as the tn,
laws of the Company, shall be made by the mi
ird OF Directors, but said rules and bylaws the
ii be subject to repeal, change or modifica- sh,
1 by the holders # majority of the stock of col
Company at their meeting. 6
ARTICLE III. 'n,
GENERAL POWERS. pre-
Ia cold oo,,nor,i 4, ox,xo,xouoa HUI
= 1n-po"oAeo anu "u'hoi VIII
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