The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-02-16
CHARTER.
STATE OF LOUISIANA,

CHARTER.
STATE OF LOUISIANA,
PARISH OF ORLEANS, CRY OF NEW ORLEANS,
BE TT KNOWN, That on this twenty-ninth
dsy OF the month OF June, IN the year OF our
Ave. and Of the United States OF America tne
n'P Before me-. JOHN g. EUsT1s, Notary Pub
lie. in and for this CITY. and parish OF Orleans
State of Louisiana, duly commissioned ana 9ua la
fed and in the presence OF ede WITNESSES ~
'f Personally came and appeared, G. ": 3: BAY
LEY. E. B. WHEELOGK, HUGH R II1 6Ha2A.,
JOHN PHELPS, JOHN d. KENNARD, CYRUS
BUssEY, GEORGE JONAS, " w., - w SGaM L
R ANfT 4 and DAVID WALLACE, all resi-
dents Of this city, who severally declared
That. ayailing themselves OF the powers,
rights and privileges conferred by the sta-
tutes of the State Of Louisiana, relatlve
to the Organization Of Corp saato form IN
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 an9 con-
sttute, and do by these PRESENTS form ana con.
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-
lations, 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 pane shall have succession,
and have corporate existence for ana curing the
full term and period OF twenty-five tzol 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 properly,
and shall possess all the powers and privileges
which corporations are or may be by any genera.
law CT this State authorized to possess, and said
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 corpora ton is
hereby fixed at THREE MILLION DOLLARS
ls3, 0OO, 00o), represented ~ THlRTY THnU
($1OO) 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 Directors and shall
named gentlemen, who shall be the officers OF
the Company until the second Wednesday in
January, 1877: officers, p. B. WHEEIOCK,
President: HUGH KENNEDY, Vice President;
s. H. KENNEDY, Treasurer. When one hum
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 thi0 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, 2. The time and manner OF payment Tor
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 sh&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 informalities 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 Orleans, and citation shall be
served there on the President Of the company, or
in his absence, on the Vice President.
Sec. s. The stock books shall be kept at the
Office of the Company, whence certificates OF stock
shall be issued to the subscribers, but no trans
until made upon its 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 nstallments on bis stock as
required, the Board of Directors shall have the
option, after thir days written notice to the
delinquent, of FORGETTING his stock, or the amounts
previously paid thereon; and no stakeholder
shall have the right to vote while in default.
SEC. z. All rules relative to the declaration Of
40 of rr0fito wa1l
bylaws of the Company, shall be made by the
Board of Directors, but said rules and bylaws
shall be eubject to repeal, change or modifca-
ton by the holders Of q majority OF the stock Of
the Company at their meeting.
ARTICLE III.
GENERAL POWERS.
The said company is empowered and author
ICED:
FirstrTo locate, construct, lease, own and use
q 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 Iberville, on the right
bank Of the Mississippi, and Baton Rouge on the
left bank; or from New Orleans or Berwick's
Bay, via vermilonville, in the parish OF Lafay
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 in
such direction and route routes as said company
shall fix, and with such connecting branches in
the State OF Louisiana as may be deemed
proper.
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 expedient
and for the interest Of said company to own and
to use and lease, and they shall not be restricted
in the exercise Of this privilege to the State of
Louisiana, but may connect their main line with
any other line or lines in other States which