The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-24
CHARTER.
STATE OF LOUISIANA

| CHARTER.
STATE OF LOUISIANA, !
PARISH OF ORLEANS, CRY OF New ORLEANS, {
BE 1T KNOWN, That on this twenty -nintl
day OF the month of June, in the year of oul
Lord one thousand eight hundred and seventy
five, and Of the United States of America the
ninety-ninth.
Before me, JOHN G. EUsIIs, Notary Pub
lie, in and for this cit7, and parish Of Orleans
State of Louisiana, duly commissioned and quail
fled, and in the presence of the witnesses here
matter named and undersigned:
Personally came and appeared, G. W r. BAY.
JOHN PHELPS, JOHN s.. KENNARD, CYRUS
BUSSEY, GEORGE JONAS, W. B. SCHMIDT
JAMES A. GIRDNER, JULIUS WEIS, E. l..
RANLETT and DAVID WALLACE all resi-
dents Of this city, who severally declared
rights and privileges conferred by the sta
tutes Of the State of Louisiana, relative
to the Reorganization of Corporations" in
thi State, they do, by these presents, form,
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-
stitute, 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
them, to be governed by the following stipu-
lations obligations and regulations 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 name shall have SUCCESSION
and have corporate eXl-tence for and during the
full term and period of twenty-five (25l 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
aud 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 corpora ton is
hereby fixed at THREE MILLION DOLLARS
tS30000O0), represented by THIRTY THOU |
SAND SHARES of ONE HUNDRED DOLLARS |
(sl00) 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
1877: Officers, E. B. WHEELOcK,
President; HUGH KENNEDY, Vice President;
S. H. KENNEDY, Treasurer. When one hun
dred and fifty thousand dollars $3.50 OOO) 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 this 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.
AI-T . Thn fIr,a and mar nff Fa~t
stock shall be such may be determined by the
Board of Directors, provided, however, that no
call shall be made of more than ten per cent 10
per cent? on each share at any time, and thirty
days must elapse before another call can be
made.
SEC 8. No stakeholder sha u be held liable or re-
sponsible for the contracts aud 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 lnformalities in The Organza-
ton have the effect of annulling this Charter, or
Of exposing stakeholder to any liability beyond
he amount of his stock subscription unpaid.
SEC. 4. The domicle of the company shall be
The city of New o leans, and citation shall be
served there on the President of the company, or
n his absence, on the Vice. President.
SEC. 5. The ock books shall be kept at the :
)fice of the Company, whence certificates of stock
,hal be issued to the subscribers but no trans 9
er of stock shall be binding upon he Company
Until made upon its stock books, and no stock r
certificate shall be issued except for full paid :
took. :
SEC. 6. In the case Of failure the part of any
ubscriber to ply the in-tallments on his stock as
equired, the Board of Directors shall have the
ption, after thir days written notice to the
of forfeitng his stock, the amounts
reviousy paid thereon; and no stakeholder s
hall have the right to vote while in default p
SEC. 7. All rules relative to the declaration of s.
ividends or divisions Of profits, as well as the u
y-laws of the Company, shall be made by the II
GARD of Directors, but said rules and bylaws Il
nall be subject to repeal, change or modifica- s.
on by the holders # majority of the stock of c.
le Company at their meeting. a,
APTTCTE -