The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-14
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CITY OF NEW ORLEANS,
BE IT KNOWN, That on this twenty-nint
day OF the month of June, in the year OF on
Lord one thousand eight hundred and seventy
five, and Of the United States Of America tn
ninety-ninth
Before me, JOHN G. EUSTIS, Notary Pub
lie, in and for this CITY. and parish Of Orlean:
State Of Louisiana, duly commissioned and quail
fed, and in the presence Of the witnesses. here
matter named and undersigned:
Personally came ana appeared, G. ". R. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN Il. KENNARD, CIRU!
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
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 Reorganization Of Corporations" il
thi State, they do, by these presents, form
Organize, constitute and found Corporation FOL
the objects and purposes as shall hereafter be
enumerated and set forth; and to that end 4hey
do hereby covenant and agree to form and con.
stitute, and do, by these presents, form and con-
stitute themselves, aud all such other persons As
may hereafter become associated with them,
whether by subscription, purchase, transfer,
| succession or otherwise, into BODY Cor
/
| all who may hereafter become associated with
them, to be governed by the following stipu-
latons, obligations and regulations as articles OF
! the charter OF said Corporation.
ARTICLE /.
MAIZE.
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 (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 tie powers and privileges
which corporations are or may be by any genera
law OF this State authorized to possess, aud said
company may exerciseits 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 corporation is
hereby fixed at THREE MILLION DOLLARS
($3, O00), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(S100) EACH, with the ri ht 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 il
January, 1877: officers, E. B. WHEELOcK
President; HUGH KENNEDY, Vice President
S. Fl. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (s150, 000) 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 thU 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 may be determined by the
Board OF Directors, provided, however, that ne
call shal be made of more than ten per cent 90
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shat be held liable ORE
sponsible for the contracts and faults of the
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 the effect Of annulling this Charter or
of exposing a stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec. T. The domicile OF the company shall be |
the city of New Oleans, and citation shall be |
served there on the President of the company, o. |
ID his absence, on the Tice-President. |
SEC 5. The stock books shall be kept at the |
office of the Company, whence certificates Of stocE
shall be issued to the subscribers, but no trans,
fer of stock shall be binding upon he 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
to pay the iustalments on his stock as
required, the Board Of Directors shall have the
option, after thir days written notice to the
Of forfeting his stock, the amounts
previously paid thereon; and no stakeholder
hall have the right to vote while in default.
SEC. 7. All rules relative to the declaration OF
dividends or divisions of profits, as well the
bylaws of the Company, shall be made by the
3oard of Directors, but said rules and bylaws
hall be subject to repeal, change or modifica-
ion by the holders If ma jority of the stock OF
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is 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
pon such a course or route may be deemed
y a majority of the Directors Of said company
most expedent, beginning at point on the Mis-.
issippi River at New Orleans, or between New
orleans and the parish OF Tbervile, on the right
ank of the Mississippi, and Baton Rouge on the
eft bank; or from New Orleans or Berwick's
,ay via Vermiilionville, in the parish OF Lafay-
tie, and Opelousas, in the parish of ST. Landry,
r from any of said points, or from any point
7ithn the limits of this State, and running thence
owards and to the city of Shreveport, or the
ity of Marshall or Dallas, in the State of Texas, in
UGH direc ion and route or routes said company |
hall fix, and with such connecting branches in
he State Of Louisiana as may be deemed
roper.
Second-To locate, construct, lease, own, main
ain and use such branch railroads and tracks az
majority Of the Directors of said company may :
ON time to time deem proper and expedent !
nd for the interest of said company to own and 3
use and lease, and they shall not be restricted
the exercise of this privilege to the State of q
nuisiana, but may connect their main line with .
ny other line or lines in other States which 3
lall authorize the exercise of said privilege
thin their limits, and the said company shall
ave right to establish and maintain in the
ty of New Orleans proper freight and psssen-
or depots, and to connect them by tracks and a
rries with the left bank of the Mississippi River u
such point or points may be deemed most G.
'nvenient for the public interest, and to use in
ch ferries steamboats, and other vessels and n
r the purposes of such depots, tracks and fer 81
es, may acquire property by appropriation.
Third TO construct, establish, or purchase in
Is State, and thereafter, to own, lease, main =
in and use suitable wharves, PIERS warehouses
rds, steamboats,, harbors, derots, stations. and
her works and appurtenances connected with