The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-30

CHARTER.
STATE OF LOUISIANA.
PARISH OF ORLEANS, CRY OF NEW ORLEANS.


STATE OF LOUISIANA,
!. PARISH OF ORLEANS, CRY OF New ORLEANS,
BE 1T KNOWN, That on this twenty-nint
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 th
ninety-ninth.
lie, in and for this CITY. and parish Of Orleans
State OF Louisiana, duly commissioned and quail
lied, and in the presence of the witnesses here
matter named and undersigned:
SsRe snd dsaRPeaHFnd e. VI BAY
JOHN PHELPS, JOHN Fl. KENNARD, CYRUS
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, ayailing. themselves of the powers
rights and privileges conferred by the sta
tutes of the State Of Louisiana, relative
to the Organization Of Corporations" il
thi, State, they do, by these presents, form
organize, constitute and found Corporation fo1
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 here after become associated with them.
whether by subscription, purchase. transfer,
| succession or otherwise, into a sBody Cor
porate," and hereunder bind themselves, and
all who may hereafter become associated with
|
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 ORLEA Ms 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
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 corporation is
hereby fixed at THREE MILL ION DOLLARS
SAND SHARES of ONE HUNDRED DOLLARS
(sl00) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS, |
provided that said corporation shall be organized
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 Wednes day in |
January, 1877: Officers, = B. WHEEL0cK,
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $3.50 000) 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
GhoI naJlnh dot k,,Il
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, aud thirty
lays must elapse fore another call can be
made.
SEC. 8. No stakeholder sh&u be held liable or re-
,ponsible for the contracts aud faults of the COM
oany in any further sum than the unpaid balance
n balances due the company on shares owned by
lim, nor shall any informalities in The organza-
ION have the effect OF annulllng this Charter, or
II exposing stakeholder to any liability beyond
he amount of his stock subscription unpaid.
SEC. 4. The domicile of the company shall be /.
he city OF New Orleans, and citation shall be
erved there on the President of the COMPANY, or
u his absence, on the Vice President.
SEC. S. 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
er Of stock shall be binding upon The Company
ntil made upon its stock books, and no stock | .
ertlticate shall be issued except for full paid :
took.
Sec. g. In the case of failure on the part of any
1bscriber to pay the installments on his stock as
squired, the Board Of Directors shall have the
ption, after thir y days written notice to the
einquent, of FORGETTING his stock or the amounts
reviously paid thereon and no stakeholder s.
1all have the right to vote while in default. P
SEC. 7. All rules relative to the declaration of 81
vidends or divisions Of profits, as well as the Il
y-laws OF the Company, shall be made by the n
GARD Of Directors, but said rules and bylaws Il
lall be subject to repeal, change or modifca- 81
On by the holders IF majority of the stock of c.
e Company at their meeting.
ARTICLE III. "
GENERAL POWERS. Pl
The said company is empowered and author W
ed: ~
First-To locate, construct, lease, own and use ~
railroad with one or more tracks and suitable W,
rnouts, Of such guage and construction and "
on such course or route as may be deemed
majority Of the Directors of said company
ost expedienf, beginning at point on the Mis-
sippi River at New Orleans, or between New
leans and the parish OF Iberville on the right
nix of the Mississippi, and Baton Rouge on the
I bank; or from New Orleans or Berwck's
y, via vermillionville, in the parish Of I.afay-
from any of said points, or from any point
Thin the limits Of this State, and running thence
Yards and to the city of Shreveport, CT the
' of Marshall or Dallas, in the State of Texas, in
ID direc ZION and route or routesas said company
Ill fix, and with such connecting branches in
State of Louisiana as may be deemed !
per.
econd-To locate, construct, lease, own main 90,
D and use such branch railroads and tracks as Ne
lajorlty of the Directors of said company may anl
N time to time deem proper and expedient ORR
for the interest of said company to own and d,i
iSo anu ic"eo' Hnu 'iioy s"ii ioI De lesIcteu boo
lisiana, but may connect their main line with n