The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-05
CHARTER.
STATE OF LOUISIANA.

STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE IT KNOWN, That on this twenty-nint
day OF the month of June, in the year of OF
Lord one thousand eight hundred and sevent
five, and OF the United States of America til
ninety-ninth.
Before me, JOHN G. EUSIIs. a Notary Pull
lie, in and for this citV, and parish of Orlean
State of Louisiana, duly commissioned and dual
fed, and in the presence of the witnesses here
matter named and undersigned:
Personally came and appeared, G. ". R. BAY
LEY, E. B: WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN B. KENNARD, CYRU
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, T.. /
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" il
thi State, they do, by these presents, form
| organize, constitute and found Corporation fol-
| the objects and purposes as shall hereafter bt
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 Body Cor.
porae," 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 1.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that pane shall have succession
and have corporate exi-tence for and during the
full term and period of twenty-fiv (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 exerciseits 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 corpora ton is
hereby fixed at THREE MILL ION DOLLARS
s3,000,000), represented by THIRTY THOU
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
1uder the incorporators herein named, who
shall constitute the Board of Direct rs and shall
lold their Office, together with the following |
named gentlemen, who shall be the officers of |
he Company until the second Wednesday in |
January, 1877: Officers, E. B. WHEELO X,
HUGH KENNEDY, Vice President;
J. HI. KENNEDY, Treasurer. When one hun
lred and fifty thousand dollars $3.50 000) of the
apital stock shall have been subscribed, the
Board of Directors are authorized to commence
he construction OF the road, and to carry out the
PROVISIONS of THU charter; to enable them to do
his, subscriptions to the capital stock shall be
ne and payable as herein provided for when
bis amount has been subscribed.
SEC. 2. The time and manner of payment for
took shall be such as may be determined by the
oard OF Directors, provided, however, that no
all shall be made of more than ten per cent 40
er cent? on each share at any time, and thirty
avs must elapse before another call can be
lade.
Sec 8. No stakeholder shall be held liable ORE
1onslbe for the contracts and faults of the com.
any in any further sum than the unpaid balance
balances due the company on shares owned by
IN, nor shall any informalities in the organiza- |
on have the effect Of annuliing this Charter, or
exposing stakeholder to any liability beyond
lie amount of his stock subscription unpaid.
SEC. 4. The dOmlcile of the company shall be =
e city OF New Orleans, and citation shall be =
rived there on the President OF the company, or =
his absence, on the Vice-President.
SEC. s. The ock books shall be kept at the :
fee of the Company whence certificates of stock y
all be issued to the subscribers, but no trans q
r of stock shall be binding upon he Company
It'll made upon its stock books, and no stock e
rtlficate shall be issued except for full paid !,
ock.
SEC. 6. In the case of failure on the part of any
bscriber to pay the installments on his stock as
luired the Board Of Directors shall have the
ton, after thir V days written notice to the
inquent, of forfeting his stock, or the amounts N
sviously paid thereon and no stakeholder 81
all have the right to vote while in default. p
SEC 7. All rules relative to the declaration of 81
ldends or divisions Of profits, as well as the IL
laws OF the Company, shall be made by the 10
ard of Directors, but said rules and bylaws II
III be subject to repeal, change or modifca- 81
q by the holders f majority of the stock of &C
Company at their meeting. Ia
ARTICLE III.
GENERAL POWERS. RI
he said company is empowered and author wi
l: 70
irst-To locate, construct. lease, own and use No
Iilroad with one or more tracks and suitable wv
nouts, OF such guage and construction and
n such course or route as may be deemed
majority of the Directors of said company
It expedient, beginning at point on the Mis-
ippi River at New Orleans, or between New
cans and the parish Of Iberville on the right
of the Mississippi, and Baton Rouge on the
bank or from New Orleans or Berwick's
, via Vermillionvlle in the parish OF Lafay-
, and Opelousas, in the parish of st. Landry,
rom any OF said points, or from any point
lin the limits OF this State, and running thence
ards and to the city Of Shreveport, or the
of Marshall or Dallas, in the State Of Texas in
direction and route or routes as said company
Ey or,Tu yfh stloh nnntir, hro III