The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-22
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF NEW ORLEANS, J
BE 1T KNOWN, That on this twenty nintf
,, day OF the month of June, IN the year OF ou1
Lord one thousand eight hundred and seventy
five, and of the United States OF America the
ninety-ninth.
Before me, JOHN G. EUS1IS, a 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, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN Fl. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, w. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L.
RANLETT and DAVID WALLACE, all resi-
That, ayailing themselves of the powers,
rights and privileges conferred by the sta
tUtes of the State Of Louisiana, relative
to the Organization of Corporations, III
thi State, they do, by these presents, form,
organize, constitute and found e 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-
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 stipu-
lations, obligations and regulations 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 name shall have succession,
and have corporate existence for and during the
full term and period Of twenty-five 90 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 tie 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 l. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
(S3000,0 00), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s10O) 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, z. B. WHEELOCK,
President; HUGH KENNEDY, Vice President:
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $780, 00) 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 as herein provided for when
this amount has been subscribed.
SEC, 2. The time and manner OF payment for
stock shall be such as may be determined by the
Board of Directors, provided, however, that no
call shall be made OF more than ten per cent 10
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC g. No stakeholder shau be held liable ORE
sponsible 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 informalities in the organiza-
ton have Tie effect of annulling this Charter,
o. exposing a stakeholder to any liability beyond
the amount of his stock subscription unpaid.
SEC. /. 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 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 he Company
until made upon it's 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
to pay the installments on his stock as
,eauired, the Board of Directors shall have the
option, after thr days written notice to the
7elinouent, of forfeitng his stock, the amounts
previously paid thereon; and no stakeholder
han 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
1y-laws of the Company, shall be made by the
Board of Directors, but said rules and bylaws
hall be subject to repeal, change or modltica-
ion by the holders # majority of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said companyis empowered and author
zed:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable
urnouts, of such guage and construction and
lpon 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 Iberyille on the right
,ank of the Mississippi, and Baton Rouge on the
eft bank or from New Orleans or Berwick 3 |
Bay, via Vermillionville, in the parish OF Lafay
ute, and Opelousas, in the parish of st. Landry,
II from any of said points, or from any point |
owards and to the city of Shreveport. or the |
tv of Marshall or Dallas, in the State of Texas, in
1ch direction and route or routes 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
rom time to time deem proper and expedient
nd for the interest of said company to own and |
0 use and lease, and they shall not be restricted
n the exercise of this privilege to the State of
louisiana but may connect their main line with
nv other line or lines in other States which
hall authorize the exercise of said privilege
within their limits, and the said company shall
ave a right to establish and maintain in the
ity Of New Orleans proper freight and passen-
er depots, and to connect them by tracks and
erries with the left bank of the Mississippi River
such point or points as may be deemed most
onvenient for the public interest, and to use in
uch ferries steamboats, and other vessels, and
or the purposes of such depots, tracks ana fer
les, may acquire property by appropriation.
Third-To construct, establish, or purchase in
ais State and thereafter, to own, lease, main
hin and use suitable wharves, piers, warehouses.
ards, steamboats,, harbors, depots, stations, and
tber works and appurtenances com ected with