The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-20
CHARTER.
STATE OF LOUISIANA,
ARfsH OF ORLEANS. Cry OF NEW ORLEANS,

GAY OF L0o mOQtQ Oh Juuc, III LILO yOoA ~ "
Lord one thousand eight hundred and seventy
five, and Of the United States OF America tn
ninety ninth.
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, =. W. r. BAL
LEY, E. B. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN IN b. KE E sO, GYR nJ
JAMES A. GIRDNER, JULIUS WEIS, Z. L
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
to the Organization of Corporations" ii
| thi State, they do, by these presents, form
organize, constitute and found Corporation fo
the objects and purposes as shall hereafter bt
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 al
may hereafter become associated with them
whether by subscription, purchase. transfer
succession or otherwise, into Body Cor
poraie," and Hereunder bind themselves, and
all who may hereafter become associated with
them, to be governed by the following stipu.
ations 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 ext teDce 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 it's corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
SEC. 1. The capitsl stock of this corpora ton is
hereby fixed at THREE MILLION DOLLARS
$4,000, o0o) represented BY THIRTI TaoH,
(s1OO) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS
provided that said corporation shall be organized
under the incorporators herein named, who
shall constitute the Board of Direct RS 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, f. b. WHEELOCK,
President; HUGH KENNEDY. Vice President;
s. Fl. KENNEDY, Treasurer. When one hum
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 THU 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. 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 (lO
nh, uhara Oh firnn md rfu
days must elapse before another call can be
made.
SEC. 8. No stockholder shau 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 informaGties in the Organiza-
ton have the effect of annulling this Charter,
of exposing a stakeholder to any liability beyond
the amount of his stock subscription unpaid.
SEC. t. The domicile OF the company shall be
the city of New Ooleans, and citation shall be
served there ON the President OF the company, or
in his absence, on the Vice-President
SEC. s. The g. ock books shall be kept at the
office of the Company, whence certificates of stock
shall be issued to the subscribers, but no trans
fer of stock shall be binding upon he 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 on his stock as
option, after thir days written notice to the
delinquent, of forfeiting his stock, OF 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
bylaws Of the Company, shall be- made by the
Board Of Directors, but said rules and bylaws
hall be subject to repeal, change or modifca-
ion by the holders # q majority of the stock of
he Company at their meeting.
ARTICLE III.
GENERAL. POWERS. |
The said company is empowered and author
zed: