The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-29
CHATTER.
STATE OF LOUISIANA,
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STATE OF LOUISIANA, |
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE TT KNOWN, That on this twenty-nintt
day Of the month Of JUICE, in the year OF oul
Lord one Thousand eight hundred and seventy
five, and Of the United States Of America the
Before me, JOHN G. EUs1Is. 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 B. WHE Ia4S R REGHA REN GYR2s
BUSsEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER. JULIUS WEIs, E. l.
RANLETT and DAVID WALLACE, all resi-
dents Of this city, who severally declared
That syailng themselves Of the Pc powers,
| tutes Of the State Of Louisiana, relative
to the Generalization of Corporations" in
thi, State, they do, by these presents, form,
organize, constitute and found 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 subserpaon' purchase o transfer Ser
porae," 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 Of said Corporation.
ARTICLE I.
NAME.
The name and title Of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY. and by that name shall have successlon
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 the powers and privileges
which corpora tions are or may be by any general
company may exercise its 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
fs3 OO0. eO0). represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(s1OO) EACH, with the right to increase said
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 De the officers OF
January, 1871: Officers, p. B. WIMBLEDON,
President; HUGH KENNEDY, Vice President;
8. Fl. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars $3.50, 0OO) 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 40
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC. 8. No stakeholder shsu be held liable orr re-
sponsible for the contracts aud faults OF the COM
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
ton have the effect of annulling this Charter,
OF exposing a stakeholder to any liability beyond
the amount Of his stock subscription unpaid.
Sec 4. The domicie 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 e. 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 ,he Company
certificate shall be issued except for full paid
stock.
SEC. 6. In the case of failure on the part of any
subscriber to ~ the installments on his stock as
required, the Board of Directors shall have the
option, after thir y days written noIice to the
delinquent of forfeiting his stock or the amounts
previously 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 we'll 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 If a majority Of the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
MR. .a;d coYrpopv il ompoworad and aufhnr-