The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-14
CHARTER.

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not to impair its usefulness to the pubic unnec-
essarily or if temporarily impaired In ana curing
the construction of the said railroads, the salo
state. or to such state that its usefulness ana
CONVENIENCE to the public shall not pc unheces-
| sarily impaired or injured, and the said company
shall not be required to construct draw ~ any
| bridge over and across any stream OF bayou
except streams navigab!e by enrolled ana IL
censed vessels, and when required by law.
| Seventh-To obtain, by grant or otherwise,
from any parish city village within this state,
any rights, privileges or franchises that any OF
said parishes, cities or villages, may choose 10
| rant in reference to the construction, malnte-
| nance management and use the railroads OF
| said company i depots, cars, locomotives ana
its business within the limits of such or any OF
| said parishes, cities and villages. :.
Eighth-To appropriate property according TO
| existing laws. -.
| Ninth-To cross. intercept, join and unite lts
RAILWAYS, and prorate with any other railroad
heretofore or hereafter constructed IN the State
| of Louisiana, or any other State, at any polnt
| upon its route and upon the ground OF such
other railroad with the necessary turn-outs,
sidings switches and other conveyances, III
| furtherance OF the objects of it's connections
Tenth-To purchase or lease from any railroad
| company or corporation, at any authorized salo'
| any railroad, and the charter. franchises, prop
| erty and appurtenances thereof, and maintain
| and use the same as a part OF the property OF
| tins company.
Elevepth-To borrow money or to purchase or
lease property on its credit, fer the purpose
of constructing and maintaining said railroads OF
establishing continuous and connecting lines as
hereinbefore provided; and as evidence OF the IN
debtedness OF said company for such loans, OF
| the purchase or lease or such property to issue
It's corporate bonds or promlssory notes, pea 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.
ARTI~LE ~.
BOARD OF DIRECTORS.
Sec. l.. The corporate powers of this Compa'
nv shall be vested IN a Board OF Directors COM
posed of fifteen stockholders to be elected IN
accordance with the bylaws of the Company,
| and such officers and agents as may from time 10
time be appointed by such board. No person
shall be director who is not the actual owner OF
at least ten (10) 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
ELL vacancies in their number caused by death,
resignation or otherwise. The directors snail
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
dlsposi ion of its business, property and effects,
the powers and conduct Of its officers and agents,
anu all other matters which shall in any way per-
tain to the concern of the Company.
Sec. 2. All election for directors shall be by
ballot, and every stakeholder shall be emit led
to one vote in person or by proxyfor each shsre
of stock held by him for ninety days prior to
such election.
SEC. 8. Seven Of the directors shall constitute
a quorum for the transaction of business, and
the number of directors may be increased or
diminished by a 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.
SEC /. Stockholders meetings may be called
at any time by the Board of Directors and on the
requisition 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
arising at such meetings shall be determined by
| jority 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.
ARTICLE VI.
LIQUIDATION.
This corporation may be dissolved at general
meeting convened for that purpose with the as
sent of three fourths of the stock of the COM
pany and two thirds Of the stock represented at
such meeting, and in case OF such dissolution
the liquidation shall be conducted by three COM
missioners elected by ballot at such meet pg. At
the termination of this Charter, the liquidation
shall be conducted by similar board of three
commissioners, to be in the same way elected at
general meeting Of stockholders convened for
the purpose.
THUS done and passed, at my office, in the
presence of Andrew J. Armstrong and John W.
Hunter, lawful witnesses residing in this city,
who have hereunto signed their names a such,
together with the said appearers and me, said
notary, on the day, month and year herein first
written, after reading the whole.
Original Signedl. G. w. X. BAYLEI,
J. A. GIRDNER,
GEO. JONAS,
JULIUS WEII,
HUI KENNEDY,
DAVID WALLACE,
j.. B. WHEELOCK,
E. L. RANLETT,
JOHN Il. KENNARD,
CYRUS BUSoEY,
JOHN pH 4Ei p: o'''
'.
SAM'L H. KENNEDY,
A. J. ARMSTRONG;
JOHN W. HUNTER,
J. G. EUSTIS, Notary Public.
l, the undersigned Deputy Recorder Of Mort
cages in and for the parish of Orleans, city of
New Orleans, do hereby certify that the above
and foregoing act of incorporation of the s'New
Orleans Pacific Railway Company" was this day
duly recorded in my Office, according to law, in
book 11s, foios 626, 627, 62S, 500, $50, 631 and
632.
New Orleans, June 20, 1875.
Original signed.) G. DARCANTFL,
Deputy Recorder.
certify the above and foregoi G to be true
and correct copy of the original charter and GER
tficate Of recordation thereof, now extant in my
current register.
In faith, whereof, grant these presents under
my hand and the impress of my official seal, this
Sd day Of July, A. D. 1875.
j. G. EUSTIS, Notary Public
i've I'm IS Carondelet street.