The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-09
CHARTER.

the construction OF the said railroads, the sal
: company shall restore the same to its forme
state, or to such state that its usefulness an
CONVENIENCE to the public shall not be unnecef
sarily impaired or INJURED, and the said compan
, shall not be required to construct draw in an
bridge over and across any stream or bayou
except streams navigable by enrolled and Ii
censed vessels, and when required by law.
Seventh-To obtain, by grant or otherwise
from any parish, city or village within this State
any rights, privileges or franchises that any o
said parishes, cities or villages, may choose u
grant in reference to the construction, malnte
nance, management and use Of the railroads O
said company, i 8 depots, cars, locomotives ant
its business, within the limits of such or any o
said parishes, cities and villages.
Eiehth-To appropriate property according t.
existing laws.
Ninth-To cross, intercept, join and unite it
railways, and prorate with any other railroad
heretofore or hereafter constructed in the State
OF Louisiana, or any other State, at any poin
upon its route and upon the ground OF suct
other railroad, with the necessary turn-outs
sidings, switches and other conveyances, il
furtherance Of the objects of its connections
Tenth-To purchase or lease from any railroad
company or corporation, at any authorized sale
| any railroad, and the charter, franchises, prop
| erty and appurtenances thereof and maintain
| and use the same as part OF the property Of
this company.
| Eleventh-To borrow money or to purchase OF
lease property on its own credit, for the purpose
establishing continuous and connecting lines as
hereinbefore provided, and as evidence of the in
debtedness Of said company for such loans, or
the purchase or lease OF such property, to issue
it's corporate bonds or promissory notes, bearing
interes st at such rate per annum as the directory
| may elect and made payable IN gold or the law
full money of the United States at such times and
places as may be deemed most to the advantage
OF the corpor atoms, and for securing the pay
| ment of said bonds or notes, to mortgage and
pledge its railroads, its capital stock, its corpo-
rate franchises and any OF it's real or personal
property, or any portion OF the same.
ARTICLE ~.
BOARD OF DIRECTORS.
SEC. l. The corporate powers of this Compa.
ny shall be vested in Board of Directors COM
posed of fifteen stockholders to be elected in
accordance with the bylaws of the Company,
and such officers and agents as may from time to
time be appointed by such board. No person
shall be director who is not the actual owner Of
at least ten (10) shares Of the capital stock Of
said Company. Directors shall be elected an
nually, and continue in Office until others are
elected to fill their place, and shall have power to
fill vacancies in their number caused by death,
resignation or otherwise. The directors shall
elect one of their number as President of said
Treasurer, and shall have power to make and
prescribe such bylaws and rules and regulations,
and from time to time alter, amend ana revoke
the same as they shal see fit touching the govern
mcuU Ol bdlu OOmpdLy, tut tIdu51tI VI lU5 SUCK.
the election of its officers, the management and
disposition of its business, property and effects,
the powers and conduct of its officers and agents,
ana all other matters which shall in any way per-
tam to the concern Of the Company.
Sec. 2. All election for directors shall be by
ballot, and every stakeholder shall be entitled
to one vote in person or by proxyfor each share
of stock held by him for ninety days prior to
such election.
SEC. 8. Seven of the directors shall constitute
Gov hn otin NJ h,1pin aud
the number Of directors may be increased or
diminished by majority vote of stockholders in
interestat any regular meeting, provided the num-
Der shall not be less than seven nor more than
fifteen.
ARTICLEv.
STOCKHOLDERS MEETINGS.
Sec. 1. Stockholders meetings may be CT He'd
at any time by the Board of Directors, and on the
requistion of the holders Of one-tifth of the
capital stock issued it shall be their duty to call
such meetings for the purpose OF amending this
Charter and consideration OF and action upon all
other business of the company, and all questions
arising at such meetings shall be determined by
a majority Of the stock there present and voting.
SEC. O. The annual meeting of the stockholders
for the election of directors and transaction of
the regular business shall be held on the second
Wednesday in January Of each year.
ARTICLE VI.
LIQUIDATION.
This corporation may be dissolved at a general
meeting convened for that purpose with the as
sent of three-fourths of the stock of the COM
pany and two thirds of the stock represented at
such meeting, and in case of such dissolution
the liquidation shall be conducted by three COM
missioners elected by ballot at such meeting. at
the termination of this Charter, the liquidation
shall be conducted by similar board of three
to be in the same way elected at
a general meeting Of stockholders convened for
the purpose.
Thus done and passed, at my Office, in the
presence OF Andrew J. Armstrong and John w. |
who have hereunto signed their names as such,
together with the said appearers and me, said
notary, on the day, month and year herein first |
written, after reading the whole. |
Original Signedl G. W.. r. BAYLEY,
ia. GIRDNER,
GEO. JONAS,
JULIUS WEIS,
HU. KENNEDY,
DAVID WALLACE,
f. B. WHEELOCK,
Z. L. RANLETT,
JOHN H KENNARD,
CYRUS BUSsEY,
JOHN PHELP p: :, ''
w. B. SCHMIDT,
SAML II. KENNEDY,
A. J. ARMSTRONG,
JOHN w. HUNTER,
J. G. EUSTIS. Notary Public.
l, the undersigned Deputy Recorder of Mort
ages in and for the parish of Orleans, city of
Sew Orleans, do hereby certify that the above
nd foregoing act Of incorporation of the "New
orleans Pacific Railway Company" was this day
uly recorded in my office, according to law, in
ook 1lS. folios 626, 627, 62S, 629, $50, 631 and
80.
New Orleans, June 90, 1875.
Original signed.) G. DARCANTFL,