The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-15

IS whether by subscription, purchase. transfe
k succession or otherwise. into ''Body Co
porate" and Hereunder bind themselves, an
all who may hereafter become associated wit
them to be governed by the following stipl
lations, obligations and regulations as articles
the charter OF said Corporation.
ARTICLE 1.
NAME.
The name and title of said corporation shall b
the NEW ORLEANS PACIFIC RAILWAY CON
PANY, and by that name shall have succession
and have corporate Xi-tence for and during th
full term and period of twenty-five (25l year
from the date of the execution OF these present.
unless sooner dissolved in the manner hereinafte
provided for; may sue and be sued, may hol
real and personal property, may make contracts
may receive grants OF land or personal property
and shall possess all the powers and privilege
which corporations are or may be by any genera
law of this State authorized to possess, and sal
company may exercise lts corpora tie powers With
any other State of the United States that shal
authorize the same.
ARTICLE II.
| CAPITAL STOCK.
SEC. 1. The capital stock of this corporatio il
hereby fixed at THREE MILLION DOLLARS
SAND SHARES Of ONE HUNDRED DOLLAR:
($100) EACH, with the right to increase sale
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators herein named, whr
shall constitute the Board of Direct and shall
hold their Office, together with the following
named gentlemen, who shall be the officers Of
| the Company until the second Wednesday in
January 1877: Officers, E. B. WHEELO3K
President; HUGH KENNEDY, Vice President
S. H. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars (sl50,0O0) 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
| =
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 g. No stakeholder sha be held liable or re-
sponsible for the contracts and faults of the COM
pany in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any informalties in the organiza-
ton have the effect of annulling this Charter or
of exposing stakeholder to any liability beyond
the amount OF his stock subscription unpaid.
Sec. 4. The domcile 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 ock books shall be kept at the
shall be issued to the subscribers, but no trans
fer Of stock shall be binding upon The 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
subscriber to pay the in-tallments his stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent, of FORGETTING his stock, or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC 7. All rules relative to the declaration of
dividends or divisions OF profits, as we'll 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 # a ma orty of the stock of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said companyis empowered and author
ized
First-To locate, construct, lease, own and use
a railroad with one or more tracks and suitable
turnouts, of such guage and construction and
upon such course or route as may be deemed
by ajerity of the Directors of said company
most expedient, beginning at point on the Mis-
sssippi River at New Orleans, or between New
Orleans and the parish OF Iberville, the right
bank of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwick |
Bay, via Vermlonyille, in the parish Of Lafay-
~, ". It,I
or from any of said points, or from any point |
within the limits of this State and running thence
towards and to the city OF Shreveport, or the |
city of Marshall or Dallas in the State of Texas in
such direction and route or routes said company
shall fix, and with such connecting branches in |
the State of Louisiana as may be deemed |
proper.
Second To locate, construct, lease, own, main
tain and use such branch railroads and tracks as
a majority Of the Directors Of said company may
Frn,,,f Irnp tn mo iant
and for the interest Of said company to own and
10 use and lease and they shall not be restricted
n the exercise of this privilege to the State of
L ouisiana, but may connect tseir main line with
my other line or lines in other States which
shall authorize the exercise Of said privilege
within their limits, and the said company shall
nave right to establish and maintain in the
ty of New Orleans proper freight and passen-
,er depots, and to connect them by tracks and
erries with the left bank of the Mississippi River
It such point or points as may be deemed most
convenient for the public interest, and to use in
UGH ferries steamboats, and other vessels, and
or the purposes of such depots, tracks ana fer
les, may acquire property by appropriation.
Third To construct, establish, or purchase in
his State, and thereafter, to own, lease, main
ain and use suitable wharves, piers, warehouse g
ards, steamboats,, harbors, depots stations and
ther works and appurtenances connected with
nd incidental to said railway and Its connec-
ions, and to run and manage the same as the
directors of the said Company may deem to be
lost expedient and to the welfare of said corpo-
alton.
Fourth-To take, transport, carry and convey
ersons and property upon its said railway and
3 boats, by power of steam or any other power,
nd to receive for safekeeping and to store mer-
haudise and property in its yards or warehouses,
nd to receive for such transportation, safekeep-
lg or storage such tolls and charges as may
'om time to time be established or authorized to
e established by Directors of said railroad COM
any It
To make advances of money or credits upon ,
Merchandise or property, for changes made by
Their traE sportaton lines to be transported upon
8 railways, steamboats, or vessels, or to be |
tored in its yards or warehouses to sNch extent,
nd upon such terms and conditions al the Direc-
)rs of said Company may from time to time es- /.
4blish or authorize to be established. L
Fifth-To obtain and receive by purchase
rant from United States or otherwise, grant, gift,
evise and bequest, both real and personal prop F
-ty. to have and to hold such real and personal [
al estate, in this State, for the objects, pur- s
oses, interests and business of such Company.
Sixth-To construct and maintain its said rail- ?
ads or any part Of the same, and to have the
ght of way therefor, across or along, or
o0n anv waters water courses. river 4