The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-06
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF New ORLEANS, (
BE IT KNOWN, That on this twenty-nintl
day OF the month of June, in the year of ou
Lord one thousand eight hundred and seventy
five, and of the United States of America th,
ninety ninth.
Before me, JOHN G. EUSIIs, Notary Pub
lie, in and for this ctv, and parish of Orleans
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. r. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN 81. KENNARD, CYRUS
BUssEY, GEORGE JONAS, W. B. SCHMIDT
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 Organization 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-
etitute, 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 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
law Of this State authorized to possess, and said
company may exercisei 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
(s3, ,000), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1OO) 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, p. B. WHEELOcK,
President; HUGH KENNEDY, Vice President;
S. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars ($150,0C0) 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. 2. The time and manner OF payment for
stock shall be such 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 8. No stakeholder shsu 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 informallties in the organiza-
ton have the effect of annuling 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 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 ,he Company |
until made upon it's stock books, and no stock |
certificate shall be issued except for full paid
stock.
SEC. g. In the case of failure on the part of any
subscriber to pay the in-tallments on his stock
required, the Board of Directors shall have the
option after thr y days written notice to the
of FORGETTING 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
by-laws of the Company, shall be made by the
Board OF Directors, but said rules and bylaws
shall be subject to repeal, change or modifca-
ton by the holders # majority of the stock of
5he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
zed:
First-To locate, construct lease, own and use
railroad with one or more tracks and suitable
of such guage and construction and
Upon such course or route as may be deemed
~ majority Of the Directors OF said company
most expedient, beginning at point on the Mis-
,ssippi River at New Orleans, or between New
orleans and the parish OF Iberville on the right
,ank Of the Mississippi, and Baton Rouge on the
Bay, via Vermillionville, in the parish of Lafay-
,tte, and Opelousas, in the parish of st. Landry,
n from any Of said points, or from any point
within the limits of this State, and running thence
owards and to the city of Shreveport, or the
ty Of Marshall or Dallas, in the State of Texas in
uch direction and route or routes as said company
hall fix, and with such connecting branches in
he State Of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own, main
ain and use such branch railroads and tracks as
majority of the Directors of said company may q
rom time to time deem proper and expedient {
nd for the interest Of said company to own and
use and lease, and they shall not be restricted
n the exercise Of this privilege to the State of
.ouisiana, but may connect teeir main line with
ny other line or lines in other States which
hall authorize the exercise of said privilege
7ithin their limits, and the said company shall
ave a right to establish and maintain in the a
ity of New Orleans proper freight and passen- t
er depots, and to connect them by tracks and c
erries with the left bank of the Mississippi River
t such point or points as may be deemed most n
onvenient for the public interest, and to use in
UGH ferries steamboats, and other vessels, and
,r the purposes of such depots tracks ana fer
les, may acquire property by appropriation.
Third To construct establish or purchase in