The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-19

STATE OF LOUISIANA,

observation-disclosures
STATE OF LOUISIANA,
PARISH OF ORLEANS, CrY or New ORLEANS,
BE TT KNOWN, That on this twenty-nintl
day OF the month Of June, in the year Of on
Lord one thousand eight hundred and seventy
five, and Of the United States Of America tn
ninety-ninth.
Before me, JOHN G. EUsTIs, Notary. Pub
lie, in and for this CITY. and parish OF Orleans
State of Louisiana, duly commissioned and quail
fed, and in the presence of the witnesses here
matter named and undersigned:
Ley anS RRe.HHS1sa a 4 R1
JOHN PHELPS, JOHN q. KENNARD, CYRUS
BUSsEY, GEORGE JONAS, W: B: SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L
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
organize, constitute and found Corporation fol
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
them, to be governed by the following stipu-
lations, obligations and regulations articles OF
the charter O. said Corporation.
ARTICLE I.
NAME.
The name and title Of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY CON-
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
fho dat ~ ha oF fhaaa nraa
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. 1. The capital stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
lss, 0OO,0 0o), represented By THIRTY THOU,
(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 Directors 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;
8. e. KENNEDY, Treasurer. When one hun
dred and fifty Thousand dollars ($150 000) 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 |
due and payable as herein provided for when |
This amount has been subscribed.
Sec. g. The time and manner OF payment for |
stock shall be such as may be determined by the |
Board OF Directors, provided, however, that no /
,all shall be made of more than ten per cent 40
Der cent? on each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC. g. No stockholder shall be held liable or re-
ponsible for the contracts aud faults OF the COM
,any in any further sum than the unpaid balance /
n balances due the company on shares owned by
him, nor shall any informalities in the organiza-
ion have the effect of annulling this Charter, or
# 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
q his absence, on the Vice President.
SEC. 5. The sock books shall be kept at the
flee of the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
or Of stock shall be binding upon the Company
ntil made upon it's stock books, and no stock
ertifcate shall be issued except for full paid
took.
Sec 6. In the case of failure on the part of any
ubscriber to pay the installments on his stock as
equired, the Board of Directors shall have the
ption, after thir days written notice to the
of FORGETTING his stock, or the amounts
reviously paid thereon; and no stakeholder
hall have the right to vote while in default.
SEC. 7. All rules relative to the declaration of
vidends or divisions of profits, as we'll as the
y-laws Of the Company, shall be made by the !
GARD Of Directors, but said rules and bylaws
lall be subject to repeal, change or modifca-
On by the holders # majority of the stock of
le Company at their meeting.