The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-21

NAV hereafter become associated with them,
whether by subscription, purchase. transfer,
succession or otherwise into ''Body Cor
porate" and Hereunder bind themselves, ana
all who may hereafter become associated with
them, to be governed by the following stlpu-
lations obligations and regulations as articles OF
the charter Of said Corporation.
ARTICLE /.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that name 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,
NAV receive grants OF land or personal property,
aud shall possess all tie powers and privileges
which corporations are or may be by ally genera
law of this State authorized to POSSESS, and SAID
company may exercised corporate powers within
anv 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 MILL ION DOLLARS
(s3 600 ,G0O), represented by THIRTY THOU
SAND SHARES Of ONE HUNDRED DOLLARS
(SlOO) EACH with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
under the incorporates 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, Z B. WHEEIO TX,
President; HUGH KENNEDY, Vice President,
s. Fl. KENNEDY, Treasurer. When one hun
bred and fifty thousand dollars (Sl50, 000) of the
canital stock stall have been subscribed, the
Board of Directors are authorized 10 commence
the construction Of the road and to carry out the
provisions OF this charter; to enable them to do
this. subscriptions to the capital stock shall be
due and payable as herein provided Tor when
this amount has been subscribed
SEC g 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 III
per cent? on each share at any time, and thirty
DAYS must elapse before another call can be
SEC. 3. No stakeholder shall be held liable ORE
sponsible for the contracts aud faults OF the com
panv in any further sum than the unpaid balance
or balances due the company on shares owned by
him, nor shall any informalities in the organlza-
ton have the effect Of annulling this Charter,.or
Of exposing stakeholder to any liability bfyono
the amount OF his stock subscription unpaid.
SEC f. The doIaice 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-Presldent
SEC 5. The stock books shall be kept at the
office Of the Company, whence certlhcates OF stock
shall be issued to the subscribers, but no trans
fer OF stock shall be binding upon ,he Company
until made upon it's stock books, and no stocb
certificate shall be issued except for full PAID
stock.
subscriber to pay the indictments on his stock
required, the Board of Directors shall have the
option after thr days written notlce to the
delinquent of forfeiting his stock, or the amounts
previously paid thereon; and no st2cknoldef
shall have the right to vote while IL default.
SEC T. 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
shall be subject to repeal, change or modihca
flon bv the holders # a majority of the stock OF
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
lied:
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 a course or route as may be deemed
nv a majority of the Directors Of said company
most expedent, beginning at point on the MIS-
siasippi River at New Orleans, or between New
Orleans and the parish OF Ibervlile on the right
bank of the Mississippi, ard Baton Rouge on the
left bank; or from New Orleans or BerWchs
Bav. via Vermillionville, in the parish Of Lafay
cite and Opelousas, in the parish OF st. Landry
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, III
such direction ana route or routes as SAID company
shall fix, and with such connecting branches III
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
from time to time deem proper and eXpedlent
= MANY n lNG1 Q1o Z
To rse and lease and they shall not be restricted
in the exercise of this privilege to the state OF
Louisiana, but may connect thelr man line WITH
anv other line or lines in other States which
shall authorize the exercise OF SAID privilege
within their limits, and the said company shall
have a right to establish and maintain IN the
CITY of New Orleans proper freight ard passen-
rer depots. and to connect them by tracks and
ferries with the left bank of the Mississippi River
at such point or points as may De deemed most
convenient for the public interest, and to use II
suca # rries steamboats, and Other vessels, and
for the purposes of such depots, tracks ana fer
riea, may acquire property by appropriation
Third To construct, establish, or purchase IN
tLIs State, and thereafter, to own, lease, Inalt-
tain and use suitable wharves, piers, warehous
wards. steamboats,, hal bors depots, stations, ana
other works and appurtenances con ected with
and incidental to said railway ana Its connec-
tons, and to run and manage the same az the
Directors Of the said Company may deem to b.
~
ration.
Fourth-To take, t ansport, carry and convey
persons and property upon Its sad railway ana
it's boats. by power OF steam or any other power,
and to receive for safekeeping and to store mer-
cbandise and property in its yards or warehouses,
and to receive for such transportation, safekeep-
ing or storage such tolls end charges ss may
from time 10 tine be established or authorized to
he established by D rectocs of said rairdei com
p8ny.
merchandise or property, for changes made by
ether traF sportation ines to be transported upon
III ALWAYS steamboats, or vessels, or to be
stored in its wards or warehouses to ouch extent,
g17d mon such terms and conditions as the Direc-
tors of said Company may from time TO time ez-
teIlish or authorize to be established.
Fifth-To obtain and receive by purchase
grant from United States or otherwise, grant, gift
devise and bequest, both real and personal prop
er+v. to have and to hold such real and personal
real estate, in this STATE, for the objects, pur
poses. interests and business Of such Company.
Sixth-To construct and maintain it's said rail-
roads or any part Of the same, and to have the
right of way therefor across or along, or