The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-29
CHARTER.
STATE OF LOUISIANA,

PARISH OF ORLEANS, CITY OF NEW OhLEANo'
| BE 1T KNOWN, That on this twenty-nlnth
| dav OF the month of June, in the year OF our
Lord one thousand eight hundred and seventy
| five, and Of the United States OF America LIE
| ninety-ninth.
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 underslgned:
Personally came ana aRpeare1di e. " MIH 4 Bh9
LEY, E. B. WHEELOCh, HHGH h NJ Mr.
JOHN PHELPS, JOHN q. kE ~ r., G4 1I1T
JAMES A. GIRDNER, JULIUS WElS, E. L.
RANLETT and DAVID WALLACE, all resi-
dents of this city, who severally declared
That, ayailing. themselves OF the powers s
tutes of the State Of Louisiana, relative
| to the Organization OF Corporations, III
| ths State, they do, by these presents, forn
organize, constitute and found a Corporation lor
! the objects and purposes as shall hereafter De
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 a ''Body Cor
porate," and Hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stlpu-
lations obligations and regulations as articles OF
ARTICLE l.
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 existence for and during the
full term and period OF twenty-five CO. 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,
NAV receive grants OF land or personal property,
aud shall possess all the powers and privileges
which corporations are or may be by any general
law of this State authorized to possess, and sald
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 MILLION DOLLARS
(s3,OO0,OOO), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1O0) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the lncorporators 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, =. B. WHEELOCk,
President; HUGH KENNEDY, Vice President.
y. HI
dred and fifty thousand dollars $3.50 0O0) 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 SIS herein provided for when
this amount has been subscribed.
SEC 2. The time and manner OF payment Tor
stock shall be such as may be determined by the
Board of Directors, provided, however, that no
.o1. Il. Ne 40 f poor han
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shall be held liable ORE
spousible for the contracts and 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 informalties in the organiza
ton have the effect of annuling this Charter, or
OF exposing stakeholder to any liza blllty beyond
the amount of his stock subscription unpaid.
SEC 4. The domicile Of the company shall be
the citv of New Orleans, and citation shall be
served there on the President of the company, or
in his absence, on the Vlce-Presldent.
SEC s. The stock 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 The Company
until made upon its stock books, and no stock
certificate shall be issued except for full paid
stock.
SEC. 6. In the case of failure on the part of any
subscriber to pay the instalments on his stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent of forfeitiDg his stock or the amounts
previously paid thereon; and no stockhoider
shall have the right to vote while in default.
SEC T. All rules relative to the declaration OF
dividends or divisions OF profits, as well as the
bylaws 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 Ct majority OF the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company Ia empowered and author
lied:
First-To locate, construct, lease, own and use
a railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course route as may be deemed
by majority of the Directors Of said company
most expedient, beginning at point on the Mis-
sissippi River at New Orleans, or between New
Orleans and the parish OF Iberville, on the right
bank of the Mississippi and Baton Rouge on the
left bank; or from New Orleans or Berw'chs
Bay, via Vermillionville, in the parish OF Lafay-
cite and Opeousas, in the parish of st. Landry,
or from any Of said points, or from any point
within the limits ofthls State and running thence
towards and to the city of Shreveport, or the
city of Marshall or Dallas, in the State OF Texas, in
such direction ana route or routes as said company
shall fix, and with such connecting branches in
the State of Louisiana as may be deemed
Second--To locate, construct, lease, own, main
tain and use such branch railroads and tracks az
majority of the Directors of said company may
from time to time deem proper and expedent
and for the interesto of said company to own and
to use and lease and they shall not be restricted
in the exercise of this privilege to the State of
Louisiana, but may connect their malnS with
any other line or lines in other States which
shall authorize the exercise of said privilege
within their limits, and the said company shall
have a right to establish and maintain in the
CITY of New Orleans proper freight and passen-
ger depots, and to connect them by tracks and
ferries with the left bank of the Mississippi River
at such point or points as may be deemed most
convenient for the public interest, and to use in
such ferries steamboats, and other vessels, and
for the purposes of such depots, tracks ana fer
ries, may acquire property by appropriation.
Third-To construct, establish, or purchase in
this State, and thereafter, to own, lease, MAIN
tain and use suita BILE wharves, piers, warehouses:
yards, steamboats,, harbors, depots, stations, and
other works and appurtenances connected with
and incidental to said railway and it's connec-
tons, and to run and manage the same as the
Directors of the said Company may deem to be
most expedient and to the welfare of said corpo-