The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-28
CHARTER.
STATE OF LOUISIANA,
ISL OF ORLEANS, CRY OF NEW ORLEANS,

/ STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS, (
| BE TT KNOWN, That on this twenty -nintl
day OF the month of June, in the year Of ou
Lord one thousand eight hundred and seventy
five, and of the United States Of America thu
ninety-ninth.
Before me, JOHN G. EUsTIs, 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:
Personally came and appeared, 6. W. r. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN b. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L.
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" in
thi- State, they do, by these presents, form,
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 "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 OF said Corporation.
ARTICLE I.
NAME.
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 corporations are or may be by any general
aw of this State authorized to posse So, and said
company may exerciseite corporate powers within
my 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 MILIION DOLLARS
So. OOO. OOO), represented by THIRTY THOU |
SAND SHARES of ONE HUNDRED DOLLARS
5000 EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS.
provided that said corporation shall be organized
lnder the incorporators herein named who
hall constitute the Board of Directors and shall |
lold their Office, together with the following
lamed gentlemen, who shall be the officers Of
he Company until the second Wednesday in
resident; HUGH KENNEDY, Vice President;
!. II. KENNEDY, Treasurer. When one hun
red and fifty thousand dollars (sl5O, 000) Of the
apital stock shall have been subscribed, the
'oard Of Directors are authorized to commence
he construction OF the road and to carry out the
rovisions Of this charter; to enable them to do
his, subscriptions to the capital stock shall be
ue and payable IS herein provided for when
his amount has been subscribed.
Sec. 2. The time and manner OF payment for
took shall be such as may be determined by the
GARD Of Directors, provided, however, that no
all shall be made OF more than ten per cent 40
or cent? on each share at any time, and thirty
avs must elapse before another call can be
ade.
SEC 8. No stakeholder shall be held liable or re-
,onsble for the contracts and faults of the com.
any in any further sum than the unpaid balance |
balances due the company on shares owned by I
m nor shall any informalities in the organiza-
on have the effect of annulling this Charter or
exposing stakeholder to any liability beyond
le amount of his stock subscription unpaid.
SEC. 4. The domicile of the company shall be /,
le city Of New Orleans, and citation shall be !
rived there on the President OF the company, or
his absence, on the Vice-President.
Sec. 5. The g ock books shall be kept at the :
ice of the Company, whence certificates of stock
lall be issued to the subscribers, but no trans }
r of stock shall be binding upon he Company
It'll made upon its stock books. and no stock r
rtifcate shall be issued except for full paid I
ock. :
Sec 6. In the case of failure on the part of any
bscriber to pay the installments on his stock as
quired, the Board of Directors shall have the
tion, after thir days written notice to the
linquent OF FORGETTING his stock, or the amounts n
eviously paid thereon; and no stakeholder 8
all have the right to vote while in default.
SEC. 7. All rules relative to the declaration OF g
7idends or divisions of profits, as well as the q
laws Of the Company, shall be made by the n
ard Of Directors, but said rules and bylaws Il
Ill be subject to repeal, change or modifica. q
n by the holders # a majority of the stock of c.
. Company at their meeting. a