The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-28
CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF New ORLEANS, I

l
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE 1T KNOWN, That on this twenty-nint
day Of the month Of June, in the year of OIL
Lord one thousand eight hundred and sevent
five, and of the United States of America Ii
ninety ninth.
Before me, JOHN G. EUSTIS, Notary Pull
lie, in and for this citv, ard parish of Orlean
State Of Louisiana, duly commissioned and quail
fed, and in the presence of the witnesses hers
matter named and undersigned:
Personally came and appeared, G.. W. R. BAY
LEY, E. b. WHEELOCK, HUGH KENNEDY
JOHN PHELPS, JOHN II. KENNARD, CYRU
| BUSsEY, GEORGE JONAS, W. B. SCHMIDT
JAMES 4; GIRDNER, JULIUS WEIs, E. I
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, relativ
| to the Reorganization Of Corporations" il
| thi State, they do, by these presents, form
organize, constitute and found Corporation to-
the objects and purposes as shall hereafter b,
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
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 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 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 it's corporate powers within
any other State of the United States that shall
authorize the same.
ARTICLE II.
CAPITAL STOCK.
Sec /. The capital stock of this corporation is
hereby fixed at THREE MILLION DOLLARS
SAND SHARES of ONE HUNDRED DOLLARS
($100) EACH, with the right to increase said
capital stock to TWELVE MILLION DOLLARS,
provided that said corporation shall be organized
shall constitute the Board Of Directors and shall
hold their Office, together with the following
named gentlemen, who shan be the officers Of
the Company until the second Wednesday in
January, 1877: officers, E. B. WHEELO0K,
HUGH KENNEDY, Vice President;
5. H. KENNEDY, Treasurer. When one hun,
lred and fifty thousand dollars $3.50 000) Of the
capital stock shall have been subscribed, the
Board of Directors are authorized to commence
he construction OF the road, and to carry out the
provisions Of this charter; to enable them to do
his, subscriptions to the capital stock shall be
iue and payable as herein provided for when
his amount has been subscribed.
Sec. 2. The time and manner of payment for
took shall be such as may be determined by the
Board of Directors, provided, however, that no |
all shall be made of more than ten per cent 40
yer cent? on each share at any time, and thirty |
lays must elapse before another call can be |
made.
Sec 8. No stakeholder sha U be held liable or re-
ponsible for the contracts and faults of the COM
ANY in any further sum than the unpaid balance |
r balances due the company on shares owned by
i'm, nor shall any infOrmalities in the organiza-
ion have the effect of annulling this Charter, or
I exposing stakeholder to any liability beyond
be amount OF his stock subscription unpaid.
SEC. 4. The domicile of the company shall be |
be city of New Orleans, and citation shall be
erved there on the President Of the company, or
, his absence, on the Vice. President.
Sec. 5. The stock books shall be kept at the
flee OF the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
|
ntil made upon its stock books, and no stock
srtifcate shall be issued except for full paid
;ock.
Sec 6. In the case of failure on the part of any
lbscriber to pay the installments on his stock as
'quired, the Board of Directors shall have the
otion, after thir days written notice to the
einquent, of FORGETTING his stock, or the amounts
'eviOusly paid thereon and no stakeholder
lall have the right to vote while in default.
Sec. Z. All rules relative to the declaration of
vida dc diviai IF 10 ~ |
Laws Of the Company, shall be made by the ]
,ard Of Directors, but said rules and bylaws
all be subject to repeal, change or modifica- {
IN by the holders Of a majority of the stock of
g Company at their meeting.
ARTICLE III.
GENERAL POWERS. II
The said company is empowered and author !,
I'd: !
First-To locate, construct lease, own and use !,
abroad with one or more tracks and suitable y
rnouts, Of such guage and construction and
on such course or route as may be deemed
a majority of the Directors Of said company
'st expedient, beginning at point on the Mis-
sippi River at New Orleans, or between New
leans and the parish Of Iberville on the right
nix Of the Mississippi, and Baton Rouge on the
t bank or from New Orleans or Berwicks
e, and Opelousas, in the parish Of st. Landry,
from any of said points, or from any point
hin the limits of this State, and running thence
Yards and to the city Of Shreveport, or the
of Marshall or Dallas, in the State of Texas, in
ii direction and route or routes as said company
III fix, and with such connecting branches in
State of Louisiana as may be deemed
per.
locate, construct, lease, own, main .,
q and use such branch railroads and tracks as &
Majority Of the Directors of said company may .,
m time to time deem proper and expedient q
for the interest Of said company to own and 4,
use and lease and they shall not be restricted ~
he exercise Of this privilege to the State Of 90
1isiana, but may connect their main line with "
other line or lines in other States which
II authorize the exercise of said privilege
hin their limits, and the said company shall
q right to establish and maintain in the on
Of New Orleans proper freight and passen- til
depots, and to connect them by tracks and on ~,
les with the left bank of the Mississippi River "
UGH point or points as may be deemed most NJ
venient for the public interest," and to use in al
b ferries steamboats, and other vessels, and ~
the purposes of such depots, tracks ana fer
. may acquire property by appropriation. :
bird To construct, establish, or purchase in
State, and thereafter, to own, lease, main. Pa
and use suitable wharves, PIERS warehouses
H. steamboats,, harbors depots, stations and :