The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-17
CHARTER.

CHARTER.
not to impair it's usefulness to the public unnec
essary; or if temporarily impaired in and during
the construction Of the said railroads, the sale
| company shall restore the same to Its former
state, or to such q state that its usefulness ano
CONVENIENCE to the public shall not be unneces
sarily impaired or III ured, and the said company
shall not be required to construct draw III any
bridge over and across any stream or bayou
except streams navigable by enrolled ana Il
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 OF
said parishes cities or villages, may choose 70
grant in reference to the construction, mamie.
nance management and use the railroaas o.
said company is depots, cars, locomotives ant,
its business, within the limits OF such or any OF
said parishes, cities and Villages.
Eiehth-To appropriate property ACCORDING 10
existing laws. RS :,
Ninth-To cross, intercept, join and unite its
railways, and prorate with any other railroad
heretofore or hereafter constructed in the State
of Louisiana or any other State, at any point
upon its route and upon the ground OF such
other railroad, with the necessary turn-outs,
sidings, switches and other conveyances, In
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 appurtenauces thereof, and MAINTAIN
and use the same as q part of the property OF
this company. .U.t,
Eleventh-To borrow money or to purchase or
lease property on its own credit, for the purpose
OF constructing and maintaining said railroads or
establishing continuous and connecting zines 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 promssory notes, bea ing
interest 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 corpora ions, and for securing the pay
ment of said bonds or notes, to mortgage and
pledge its railroads. its capital stock its corpor-
ate franchises and any of its real or personal
property, or any portion OF the same.
ARTICLE ~.
BOARD OF DIRECTORS.
SEC. /. 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 by laws 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 Q0) 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
Company, another Vice President and another
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 shall fit touching the govern
ment Of said Company, the transfer of its stock.
the election of its officers, the management and
disposition of it's 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 proxy for each share
of stock held by him for ninety days prior to
such election.
SEC 3. Seven Of the directors shall constitute
quorum for the transaction of business, and
the number Of directors may be increased or
diminished by majority vote of stockholders in
interest at any regular meeting, provided the num-
Der shall not be less than seven nor more than
fifteen.
ARTICLE V.
STOCKHOLDERS MEETINGS.
FEC. /. Stockholders meetings may be called
at any time by the Board Of Directors, and on the
requsition of the holders OF one-ffth 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. 2. 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.