The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-08
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, Cry OF New ORLEANS,
BE 1T KNOWN, That on this twenty-nint
day OF the month of June, in the year OF on
Lord one thousand eight hundred and seven y;
five, and Of the United States OF America tn
Before me, JOHN G. EUsTIS, Notary Pull
lie, in and for this CITY. and parish OF Orlean
State Of Louisiana, duly commissioned and quail
ned and in the 81 e nefs
Personally came and appeared, G. ": r. BAY
LEY, E. B. WHEELOCK, HUGH KENNEDl
JOHN PHELPS, JOHN q. KENNARD, CYRU
BUSsEY, GEORGE JONAS, "; 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
thi State, they do, by these presents, form
organize, constitute and found a Corporation FOL
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 name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that Dame shall have succession,
and have corporate exi-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,
aud shall possess all tho powers and privileges
which corporations are Of rnay be by any general
law of this State author to possess, and said
conn any may exerciseits corporate powers within
any other State of the United States that shall
authorize she same.
ARTICL% II.
CAPITAL STOCK.
SEC. 1. The capital stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
SO, 0OO, OO0) represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators 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
January, 1877 Officers, p. B. WHEELQOK,
President; HUGH KENNEDY, Vice President;
]. H. KENNEDY, Treasurer. When one hun
lred aud fifty Thousand dollars $3.50, 000) of the
capital stock SHALL have been subscribed, the
Board Of Directors are authorized to commence
he construction of the road and to carry out the
provisions Of this charter; to enable them to do
his, subscriptions to the capital stock shall be |
lue and payable as herein provided for when |
his amount has been subscribed.
SEC. 2. The tinle and manner of payment for |
took shall be such as may be determined by the |
Board of Directors, provided, however, that no |
all shall be made of more than ten per cent 10 |
yer cent? On each share at any time, and thirty |
lays must elapse before another call can be
made.
SEC. 3. No stakeholder shall be held liable or re-
ponsibe 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-
ION have the effect of annulling this Charter, or
exposing a stakeholder to any liability beyond
be amount Of his stock subscription unpaid.
SEC. 4. The domcile of the company shall be
he city of New Orleans, and citation shall be
erved there on the President OF the company, or
his absence, on the Vice. President.
SEC. 5. The ock books shall be kept at the
flee Of the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
,r of stock shall be binding upon The Company
ntil made upon its stock books, and no stock
eriiicate shall be issued except for full paid
ock.
SEC G. In the case of failure on the part of any
lbscrber to pay the in.tallments on his stock as
quired the Board of Directors shall have the
,tion, after thir days written notice to the
,inquent, of FORGETTING his stock, or the amounts
eviousy paid thereon and no stakeholder !
all have the right to vote while in default. |
SEC. T. All rules relative to the declaration of :
vidends or divisions Of profits. as well as the
laws Of the Company shall be made by the !
,ard of Directors, but said rules and bylaws
all be subject to repeal, change or modifca-
IN by the holders a majority of the stock of
g Company at their meeting.