The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-31
CHARTER.
: STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,

Lord one thousand eight hundred and seventy
five, and Of the United States OF America tn
ninety ninth.
Before me, JOHN G. EUSTIs, Notary Pub
lie, in and for this CITY, and parish OF Orlean:
State of Louisiana, duly commissioned and quail
fed. and in the presence OF the witnesses here
matter named and undersigned:
Ley E. T. % VIE E1 HUGH Kennedy
JOHN PHELPS, JOHN 81. KENNAKD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. L
RANLETT and DAVID WALLACE, all resi
| 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" IL
thi State, they do, by these presents, form
organize, constitute and found a Corporation TO,
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-
sttute, 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-
latons, obligations and regulations as articles OF
the charter OF said Corporation.
ARTICLE 1.
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 existence 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 corporations are or may be by any general
law of this State authorized to possess, and SAID
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 corporation is
hereby fixed at THREE MILLION DOLLARS
tS3, 900 OOO), represented by THIRTY THOU
SAND SHARES of ONE HUNDRED DOLLARS
(slOO) EACH. with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
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
the Company until the second Wednesday in
January, 1877: Officers, y. b. WHEELOCK,
President; HUGH KENNEDY, Vice President;
S. Fl. KENNEDY, Treasurer. When one hum
bred and fifty thousand dollars (s150, 000) 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 thi8 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 q 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
lays must elapse before another call can be
made.
SEC. g. No stakeholder shau be held liable ORE
sponsble for the contracts and faults OF the COM
oany in any further sum than the unpaid balance
Or balances due the company on shares owned by
lim, nor shall any informalities in the organiza-
ion have the effect of annulling this Charter, or
If exposing stakeholder to any liability beyond
.he amount of his stock subscription unpaid.
SEC, L. The domicle of the company shall be
he CITY of New Orleans, and citation shall be
served there on the President OF the company, or
n his absence, on the Vice-President.
SEC. 5. The 8 ock books shall be kept at the
office of the Company, whence certificates OF stock
shall be issued to the subscribers, but no trans
,er 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
to pay the lnstallments on his stock as
,ption, after thir days written notice to the
lenauent, of forfeiting his stock, the amounts
previously paid thereon and no stakeholder
hall have the right to vote while in default.
SEC. 7. All rules relative to the declaration of
dividends or divisions of profits, as well as the
,y-laws of the Company, shall be made by the
Board of Directors, but said rules and bylaws
hall be subject to repeal, change or mOdifica-
ion by the holders of majority of the stock Of
he Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
zed:
First-To locate, construct, lease, own and use
railroad with one or more tracks and suitable |
urnouts of such guage and construction and
pon such course or route as may be deemed |
y majority of the Directors OF said company |
lost expedent, beginning at point on the Mis- |
,rleans and the parish Of Iberville, on the right
ank of the Mississippi, and Baton Rouge on the
,ft bank; or from New Orleans or Berwick's |
lay, via vermillionville, in the parish Of Lafay-
tie, and Opelousas, in the parish OF st. Landry,
r from any of said points, or from any point
owards and to the city Of Shreveport, or the
ty of Marshall Dallas, in the State of Texas, in
UGH direction and route or routes as said company
hall fix, and with such connecting branches in
he state OF LOulSldua DIS De OeSMeQ
roper.
Second-To locate construct, lease, own, main
hin and use such branch railroads and tracks as
majority of the Directors of said company may
,om time to time deem proper and expedient
nd for the interest of said company to own and
, use and lease, and they shall not be restricted
the exercise of this privilege to the State of
ouisiana, but may connect their main line with
nv other line or lines in other States which
hall authorize the exercise Of said privilege
thin their limits, and the said company shall
ave a right to establish and maintain in the
ty of New Orleans proper freight and passen-
err depots, and to connect them by tracks and
rres with the left bank of the Mississippi River
such point or points as may be deemed most
,nvenient for the public interest, and to use in
lch ferries steamboats, and other vessels, and
n the purposes Of such depots, tracks ana fer
es, may acquire property by appropriation.
Third-To construct, establish, or purchase in
lis State, and thereafter, to own, lease, main-
in and use suitable wharves, piers, warehouses
ards, steamboats,, harbors, depots, stations, and
her works and appurtenances connected with
I'd incidental to said railway and its connec-
ons, and to run and manage the same as the
irectors of the said Company may deem to be
ost expedient and to the welfare Of said corpo.
ton.
L