The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-18
CHARTER.
STATE OF LOUISIANA,

rights and privileges conferred by the ST
, tutes of the State Of Louisiana. relatiy
f thi State, they do, by these presents, form
organize, constitute and found Corporation Il
the objects and purposes as shall hereafter
enumerated and set forth; and to that end the
do hereby covenant and agree to form and COZ
stitute, and do, by these presents form and COZ
stitute themselves, and all such other persons
may hereafter become associated with them
whether by subscription, purchase. transfer
succession or otherwise. into a BODY Coz
porate." and Hereunder bind themselves, an
all who may hereafter become associated wit
them, to be governed by the following stipu
lations, obligations and regulations as articles Q
the charter OF said Corporation.
ARTICLE I.
| NAME.
The name and title of said corporation shall b
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that Dame shall have succession
| and have corporate ext. tence for and during tn
| Iull term and period of twenty-five (25) year
| from the date Of the execution OF these presents
| unless sooner dissolved in the manner hereinafte
provided for; may sue and be sued, may holt
J 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 genera
law of this State authorized to possess, and sale
company may exerciseits 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
| (s3, DOC, 0O0), represented by THIRTY THOU.
| SAND SHARES of ONE HUNDRED DOLLARS
| (s10O) 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, ~ =; B. WI WHbEEL0ok,
s. H. KENNEDY, Treasurer. When one hun
dred and fifty Thousand dollars ($150, 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 thio 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. 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 no
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 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 informallties in the organiza-
ton have the effect of annuling this Charter, or
Of exposing stakeholder to any liability beyond
the amount of his stock subscription unpaid
SEC. 4. The domicile of the company shall be
the city Of New O,leans, and citation shall be
served there on the President Of the company, or
in his absence, on the Vice-President.
SEC. 5. The 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 it's 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 installments on his stock as
required, the Board of Directors shall have the
delinquent, of forfeting his stock, the amounts
previously paid thereon; and no stakeholder
shall 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
shall be subject to repeal, change or modifca-
ton by the holders f 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 course or route as may be deemed
BY majority OF the Directors OF said company |
most expedient, beginning at point on the Mis- |
sissippi River at New Orleans, or between New |
Orleans and the parish of Ibervie, on the right |
bank of the Mississippi, and Baton Rouge on the |
eft bank or from New Orleans or Berwick's |
Bay, 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
owards aud to the city of Shreveport, or the |
,ity of Marshall or Dallas, in the State of Texas, in
such direc ion and route or routes as said company
shall fix, and with such connecting branches in
he State of Louisiana as may be deemed
proper.
Second-To locate, construct, lease, own, main
ain and use such branch railroads and tracks as
majority of the Directors of said company may
rom time to time deem proper and expedient
md for the interest Of said company to own and
o use and lease, and they shall not be restricted
n the exercise of this privilege to the State of
Inuisiana, but may connect taeir main line with
my other line or lines in other States which |
hall authorize the exercise of said privilege
within their limits, and the said company shall !
ave right to establish and maintain in the
ity of New Orleans proper freight and passen-
er depots, and to connect them by tracks and
erries with the left bank of the Mississippi River
{ such point or points as may be deemed most
for the public interest, and to use in
UGH f rries steamboats, and other vessels, and
Or the purposes of such depots, tracks and fer
les, may acquire property by appropriation.
Third To construct, establish, or purchase in
his State, and thereafter, to own, lease, main
hin and use suitable wharves, piers, warehous. 8.
ards, steamboats,, harbors, depots, stations. and
Their works and appurtenances INJECTED with
nd incidental to said railway and its connec-
ons, and to run and manage the same as the
directors of the said Company may deem to be
lost expedent and to the welfare of said corpo-
ltion.
Fourth-To take, transport, carry and convey
ersons and property upon its said railway and |
g boats, by power of steam or any other power,
nd to receive for safekeeping and to store mer-
landise and property in it's yards or warehouses,
nd to receive for such transportation, safekeep
g or storage such tolls aud charges as may
ON time to time be established or authorized to
. established by Directors Of said railroad COM
my.
To make advances of money credits upon I,
erchsndise or property, for changes made by =
her ira. sportation lines to be transported upon
) railways, steamboats, or vessels, or to be t
ored in its yards or warehouses to such extent, .
I'd upon such terms and conditions as the Direc- =
RS of said Company mlpfrom time to time es- )
ll;sb ~ authorize In ha hlishad