The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-02
CHARTER.
STATE OF LOUISIANA, |
PARISH OF ORLEANS, CITY OF NEW ORLEANS, I

STATE OF LOUISIANA, I
PARISH OF ORLEANS, CITY 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 thu
Before me, JOHN G. EUsTIs, Notary Pub
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:
LEY, E. B. WHEELOCK, HUGH KENNEDY,
JOHN PHELPS, JOHN b. KENNARD, CYRUS
| BUSSEY, GEORGE JONAS, W. B. SCHMIDT,
JAMES A. GIRDNER, JULIUS WEIS, E. L.
dents of this city, who severally declared
rights and privileges conferred by the sta
tutes Of the State of Louisiana, relative
thi State, they do, by these presents, form,
organize, constitute and found q Corporation for
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 here after 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 as articles OF
the charter OF said Corporation.
ARTICLE 1.
NAME.
The name and title of said corporation shall be
the NEW ORLEANS PACIFIC RAILWAY COM
PANY, and by that pane shall have succession,
and have corporate exi-tence 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 posse SO, and said
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 corpora ton is
hereby fixed at THREE MILL ION DOLLARS
00o represented Ry Thirty Thnn
(s10Ol 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 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. WHEELO X, |
HUGH KENNEDY, Vice President, |
). Fl. KENNEDY, Treasurer. When one hun
lred aud fifty thousand dollars (s15O, O00) 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
lue 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 no
yer cent? on each share at any time, and thirty
lays must elapse before another call can be
made.
SEC 8. No stakeholder shall be held liable or re-
ponsibie for the contracts aud faults OF the COM
ANY in any further sum than the unpaid balance
r balances due the company on shares owned by
m nor shall any informalties in The organiza
ion have the effect of annulling this Charter, or
I exposing stakeholder to any liability beyond
he 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 l.
SEC. 5. The ock books shall be kept at the
flee of the Company, whence certificates of stock
hall be issued to the subscribers, but no trans
n of stock shall be binding upon The Company
ntil made upon its stock books, and no stock
ertifcate 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
,qured, the Board of Directors shall have the
,tion, after thir y days written notice to the
slinquent, of FORGETTING his stock, the amounts
.eviously paid thereon and no stakeholder
lall have the right to vote while in default. I
SEC. Z. All rules relative to the declaration of
vidends or divisions of profits, as well as the {
laws of the Company, shall be made by the I
oard OF Directors, but said rules and bylaws t
aIl be subject to repeal, change. or modifca- 8
IN by the holders # a majority of the stock Of C
Q Company at their meeting.
ARTICLE III.