The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-25

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
| all who may hereafter become associated with
them, TO be governed by the following stipu-
lations obligations and regulations as articles OF
the charter oil said Corporation.
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 ext tence for and during the
full term and period of twenty-five (25l 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 corporation 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 she same.
ARTICLE II.
CAPITAL STOCK.
SEC. l. The capital stock of this corporation is
hereby fixed at THREE MILL ION DOLLARS
ga, 600, 000) represented by Thirty THOU
SAND SHARES of ONE HUNDRED DOLLARS
(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 Direct rs 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. WHEELOlK,
President; HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (sl5O,OC0 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 elap5e before another call can be
made.
SEC. 8. No stakeholder sh&u be held liable ORE
sponsbe for the contracts aud faults OF the com
pans 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 annullng this Charter, or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
SEC. 4. 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. S. The ock 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 in-talments on his stock as
the Board of Directors shall have the
option, after thir days written notice to the
of forfeiting his stock, or the amounts
paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC. Z. 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 moditca-
ton by the holders f a majority Of the stock OF
The Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
zed:
, railroad with one or more tracks and suitable |
,urnouts, of such guage and construction and |
lpon such course route as may be deemed |
BY majority of the Directors oil said company |
most expedienf, beginning at point on the Mis-
II
orleans and the parish OF Ibervile, on the right |
,ank of the Mississippi, and Baton Rouge on the
eft bank or from New Orleans or Berw.cks |
Bay, via Vermillionville, in the parish OF Lafay-
,tte, and Opelousas, in the parish of ST. Landry,
IL from any of said points, or from any point
within the limits OF this State, andrunning thence
owards and to the city OF Shreveport, or the
,ity Of Marshall or Dallas, in the State of Texas, in
uch direc lion and route or routes as said company
shall fix and with such connecting branches in
la+n Of Ion may
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 eXpedlent
md for the interest Of said company to own and
o use and lease, and they shall not be restricted
n the exercise of this privilege to the State Of
but may connect their main line with
INV other line or lines in other States which
hall authorize the exercise Of said privilege
within their limits, and the said company shall
rave right to establish and maintain in the
,ity of New Orleans proper freight and passen-
ger depots, and to connect them by tracks and
erries with the left bank Of the Mississippi River
Vt such point or points az may be deemed most
convenient for the public interest, and to use in
ucb ferries steamboats, and other vessels, and
or the, purposes of such depots, tracks ana fer
les, may acquire property by appropriation.
Thrd-To construct, Establish or purchase in
his State and thereafter, to own, lease, MAIN
ain and use suitable wharves piers, warehOus
ards, steamboats,, harbors, depots, stations, and
ther works and appurtenances con ected with
nd incidental to said railway and its connec-
ions, and to run and manage the same as the
directors of the said Company may deem to be
aost expedient and to the welfare Of said corpo-
alton.
Fourth-To take, transport, Gerry and convey
ersons and property upon its said railway and
Is boats, by power of steam or any other power,
nd to receive for safekeeping and to store mer-
haudise and property in its yards or warehouses,
nd to receive for such transportation, saiekeep-
ne or storage such tolls aud charges as may
rom time to time be established or authorized to
g established by Directors of said railroad COM
any.
TO make advances of money or credits upon
Merchandise or property, for changes made by
Their transportation lines to be transported upon
Is railways, steamboats, or vessels, or to be
tored in its yards or warehouses to such extent
nd upon such terms and conditions as the Direc-
Drs Of said Company may from time to time es-
ablish or authorize to be established.
Fifth-To obtain and receive by purchase,
rant from United States or otherwise, grant, gift,
evise and bequest, both real and personal prop
rty. to have and to hold such real and personal
cal estate in this State, for the objects, pur-
oses. interests and business Of such Company. !